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Treasury Cash Remains Below $100 Billion as Debt-Ceiling Standoff Drags OnMay 18, 2023 - 05:46:52 PDT
The amount of funds the US government has to pay its bills rebounded after falling to the lowest level in more than a month, though there’s still a risk it will run out of money by early next month if the debt limit isn’t raised or suspended before then.
The Bank of England has insisted it did not fuel a boom in house prices following the global financial crisis.
The Bank of England is holding a “Festival of Mistakes” this week, celebrating lessons learnt from financial disasters of the distant past. Economists at the BoE and the European Central Bank underestimated the scale and persistence of inflation. Across the world, poor forecasts have contributed to central bankers failing to do their main job: maintaining price stability.
The $1.3 trillion market for reselling leveraged loans is facing its lowest profitability in years, potentially making it harder for lower-rated companies to refinance debt.
Bets against regional banks continue to pile on even as the sector recovers from the turmoil that shook financial markets in March.
Slowdown in Residential Construction Centers on Single-Family Houses. Multifamily Flattens at Highest Level Since 1986May 18, 2023 - 05:33:14 PDT
Single-family construction still dominates, but its share of residential construction falls to the lowest in decades.
US commercial real estate prices fell in the first quarter for the first time in more than a decade, according to Moody’s Analytics, heightening the risk of more financial stress in the banking industry.
Looming behind market fears over the prospect of a historic US default is the less-discussed risk of what would follow a deal to resolve the debt-ceiling impasse.
In January, the $31.4 trillion debt limit - the amount of debt the U.S. government can hold - was reached. That means U.S. cash reserves could be exhausted by June 1 according to Treasury Secretary Janet Yellen. Should Republicans and Democrats fail to act, the U.S. could default on its debt, causing harmful effects across the financial system.
Walmart Inc raised its annual sales and profit targets on Thursday as the retail behemoth drew from price-conscious shoppers trading down to cheaper meat products and store brands, easing worries of consumer spending softening due to inflation. Walmart has been keeping grocery prices low to fend off competition from Target Corp and Kroger even as the industry struggles...
"We're Going Up": Steve Cohen Turns "Pretty Bullish" As 300 Million AI-Driven Layoffs Send Profit Margins SoaringMay 18, 2023 - 05:20:57 PDT
First, the good news. After two years of declining margins due to runaway inflation and soaring input prices, the worst of the profit margin recession is behind us.
Global Markets-Wall Street Set to Open Higher, European Shares Boosted by Debt Deal HopesMay 18, 2023 - 05:19:00 PDT
European shares rose on Thursday and Wall Street was set to open higher, as traders bet that politicians in the United States would reach a deal to avoid a debt default. Wall Street closed sharply higher on Wednesday and the positive market sentiment continued during Asian trading, with Japan's Nikkei hitting a new 20-month high, after President Joe Biden and top U.S....
Total household debt eclipsed $17 trillion for the first time ever in the first quarter of 2023 as Americans wrestle with persistent price inflation.After charting the biggest rise in 20 years during the fourth quarter, household debt climbed again in Q1, rising by $148 billion. The 0.9% increase pushed total household debt to $17.05 trillion, according to the latest data by the New York Fed.
Gold had dropped by over $100 in the last two weeks. Meanwhile, the dollar rose to a 7-week high on May 17. If you're thinking that this looks a lot like how gold and the dollar moved at the height of the Federal Reserve's inflation fight, you're right. That's because the central bankers at the Fed have stepped up the hawkish rhetoric in the last couple of weeks increasing expectation that interest rates will stay higher for longer.But talk is cheap. The real question is how will the Fed respond when the bottom drops out of the economy.
There is an insidious force destroying cities in America and around the world, that very few realize. It is a hidden killer that continues each passing day, week, month, and year... especially in a world now facing energy and resource constraints. What is it...
In fact, TD Bank is putting their money where their mouth is. They think the selloff is going to be short lived; and they think current longs in the market are a lot more patient than usual.
Gold to See a Significant Break Higher on a Weekly Close Above $2,075: Credit SuisseMay 17, 2023 - 13:30:16 PDT
“Post the current ranging phase, we believe the market will eventually move to new record highs, supported by lower US Real Yields. With this in mind, above $2,075 on a weekly closing basis would be seen to mark a significant break higher, opening up a move to our first core upside objective at $2,330/2360.”
Gold's struggle are due to profit-taking and rebound in dollar and yields -- factors likely to be temporary. Our longer-term gold outlook remains bullish.
May 17, 2023 - 12:48:40 PDT
The world’s debt nearly set a record high in the first quarter of 2023, with sharp increases in mature markets such as the US, according to the Institute of International Finance.
The swift growth of artificial intelligence technology could put the future of humanity at risk, according to most Americans surveyed in a Reuters/Ipsos poll published on Wednesday. More than two-thirds of Americans are concerned about the negative effects of AI and 61% believe it could threaten civilization.