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Under the hood, Services inflation continues to accelerate to its highest since August 2016 as goods inflation languishes...
Another major drop in mortgage rates caused a massive jump in borrowers applying to refinance their home loans. The surge sent total mortgage application volume up 55.4% last week, according to the Mortgage Bankers Association.
Goldman's top U.S. stock strategist cut his mid-year S&P 500 forecast to 2,450, meaning the bank sees the market falling another 15%.
Yesterday was "Reversal Tuesday." Stocks rallied on the promise of government stimulus. The dollar and the bond market also turned around. In his podcast, Peter Schiff said the bond market was the one to watch because it's possible that the promise of more stimulus could have finally pricked the overblown bond bubble.President Trump floated the idea of a payroll tax cut. There is also talk of bailouts for oil companies and other industries hit hard by the coronavirus, such as airlines and cruise companies.
Oil prices crashed early this week as Russia and Saudi Arabia launched a full-blown price war. The big drop in the price of oil pulled stocks down yet again, with the Dow Jones losing over 2,000 points. But in an interview on RT, Peter Schiff said he thought the drop in oil would prove to be short-lived because ultimately the dollar is going to collapse.
Gold prices rose on Wednesday after a steep fall in the previous session, as doubts about a stimulus package proposed by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic weighed on risk sentiment.
That is, the chance that the Fed’s official interest rate will again go to zero for the first time since the financial crisis is, well, solidly in the 100% range.
The escalating coronavirus outbreak is giving the U.S. Federal Reserve a policy headache like never before: how to judge the potential impact on the economy in the absence of reliable data on how fast the flu-like illness is spreading across the U.S.
The Federal Reserve has a lot to worry about these days. And while it's not often mentioned, at the top of the list should be preventing rates on longer term U.S. Treasuries, the world’s risk-free benchmark securities, from falling to zero.
Stocks moved higher on Tuesday as investors bet on fiscal stimulus to ease the coronavirus crisis.
Payments on mortgages are to be suspended in Italy due to the coronavirus outbreak, the country’s government has announced.
Trump Administration Likely to Delay April 15 Tax Filing Deadline on VirusMar 11, 2020 - 03:46:51 PDT
The news comes as President Trump and his economic team work to assemble an economic response to the deadly coronavirus' spread and its impact on markets and the economy.
That proposed tax change would last through the rest of the year, and would apply to both employers and employees...
The outbreak has triggered a collision of unstable debt and an oil price crash. A global recession of some form is no longer a tail-risk. It is imminent and inescapable.
Christine Lagarde said Europe risks a major economic shock similar to the financial crisis unless leaders act urgently on the coronavirus, and indicated the European Central Bank will take steps as soon as this week.
Australia’s central bank has just dropped one of its strongest hints of how quantitative easing could look Down Under. It turns out to be quite different to what many in markets are expecting.The Reserve Bank of Australia may follow the Bank of Japan’s targeting of bond yields rather than...
The Bank of Japan may expand monetary stimulus next week by pledging to buy exchange-traded funds (ETF) faster than the current pace, if market volatility persists enough to hurt business confidence
The central bank has also announced a new term-funding scheme to support small and medium-sized companies, as well as new steps to help commercial banks lend more.
Dow Futures Point to an Opening Loss of 500 Points After Tuesday's SurgeMar 11, 2020 - 03:15:41 PDT
U.S. stock futures fell sharply on Wednesday, pointing to another volatile session on Wall Street.
COVID-19 cases surpassed 1,000 in the United States on Tuesday, according to Johns Hopkins University data.