Economists and policy makers are ‘sleepwalking’ toward next financial crisis, Mervyn King says- Market Watch--10.21.19
The IMF and World Bank have both officially slashed their global growth forecasts and warned of consequences if the U.S.-China trade war is not ended.
Bank heads warn of looming liquidity crisis- Axios--10.21.19
A growing number of market analysts are sounding the alarm that the repo market shock may have been the first sign of a liquidity shortage. Now, the heads of major banks are also voicing those same concerns.
US weekly jobless claims rise modestly- CNBC--10.17.19
The number of Americans filing applications for unemployment benefits rose marginally last week. The data suggests the labor market continues to tighten. Employers are hanging on to their workers as the pool of qualified workers continues to shrink.
69 Percent Of US Households "Are Preparing For A Possible Recession"- Zero Hedge--10.17.19
More than two-thirds of all U.S. households "are preparing for a possible recession" right now. There seems to be a growing national consensus that the U.S. economy is heading for big trouble.
US retail sales unexpectedly decline in a sign that consumer economy could be cracking- CNBC--10.16.19
U.S. retail sales fell for the first time in seven months in September, raising fears that manufacturing-led weakness was spreading to the broader economy.
QE4 Officially Begins: Fed's First T-Bill Purchase Is 4x Oversubscribed Amid Massive Liquidity Demand- Zero Hedge--10.16.19
The Fed has purchased $7.501 billion in Treasury Bills. This, combined with the repo operation announced earlier, confirms that there is a dramatic need for liquidity among the Primary Dealer community.
U.S.-China tariffs drag global growth to lowest in a decade: IMF- Reuters--10.15.19
The U.S.-China trade war will cut global growth to its slowest pace since the 2008-2009 financial crisis, the IMF warned. According to its latest World Economic Outlook projections, the IMF shows GDP growth at 3.0%, down from 3.2% in a July forecast.
One look at this and you’ll get why Warren Buffett sits on a record cash pile- Market Watch--10.15.19
Warren Buffett's Berkshire Hathaway is sitting on a record cash pile of $122 billion. According to chart data, valuations are at a level not seen since the internet bubble two decades ago.
Larry Summers: US economy is just one bad recession away from zero rates or worse- CNBC--10.14.19
Without any major changes, Larry Summers predicts that there is little chance of Fed policy rates staying above zero. The ECB and Bank of Japan first went into negative rates in 2014 and 2016, respectively.
Only half of Gen Xers have a retirement account, and that's a catastrophe in the making- Business Insider--10.14.19
According to a survey of more than 2,000 Americans, exactly half of Generation Xers say they don't have a retirement savings account, while 13% say they have one but aren't actively contributing to it.
The Fed is extending its overnight funding operations through January 2020- CNBC--10.11.19
The Fed will be extending its temporary overnight repo operations through at least January. In addition, the Fed also said it will be buying short-duration treasury bills through at least the second quarter of 2020.
Trump administration clears the way for sanctions on Turkey: ‘We can shut down the Turkish economy’- CNBC--10.11.19
Treasury Secretary Steve Mnuchin says President Trump has given his administration authority to put sanctions on Turkey. The move comes in response to a Turkey offensive in Syria.
Expert who called the 2008 crisis says repeat of December meltdown is inevitable- Market Watch--10.10.19
According to Goldman Sachs alumnus Raoul Pal, a repeat of a stock selloff may be inevitable. Pal believes "We're coming into a period of illiquidity for equities."
Gas prices exceed $5 a gallon at some Los Angeles area stations- Fox 5 New York--10.9.19
Gas prices have reached its highest level in California since 2015, and some gas stations in the Los Angeles area are now charging more than $5 a gallon.
UBS says global growth will slow in 2020 to its slowest pace since the financial crisis- Markets Insider--10.2.19
The UBS chief investment officer has a very negative outlook for 2020. UBS expects global growth to slow to its slowest pace since the global financial crisis.
September private payrolls report shows the pace of hiring is slowing- CNBC--10.2.19
Private payrolls rose by 135,000 in September, bringing the monthly average down to 145,000, compared with 214,000 a year earlier.
Second-quarter U.S. GDP left at 2%, slower economic growth seen persisting- Market Watch--9.26.19
The U.S. economy grew more slowly in the second quarter and the slow growth is expected to persist through the end of the year largely due to the trade fight with China.
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