One of the bond market’s most reliable indicators of impending U.S. recessions is predicting a disaster. The Federal Reserve Powell made it clear yesterday the FED will remain committed to its battle on inflation. The spread between 2- TMUBMUSD02Y, 4.351% and 10-year Treasury yields TMUBMUSD10Y, 3.634% is stuck at one of its most negative levels …
Continue reading “Most deeply inverted Treasury curve in more than 4 decades”
U.S. stocks rallied sharply on Wednesday, clinching their biggest gains since Nov. 10 on the final trading day of the month, as stocks celebrated Fed Chairman Jerome Powell’s comments that the central bank is leaning toward smaller interest-rate hikes in December. The S&P 500 SPX, +3.09% closed 122.47 points, or 3.1%, higher at 4,080.10, while …
Continue reading “Dow soars 700 points at close on Powell’s remarks”
The United States economy grew at a faster-than-expected annual rate of 2.9% in the third quarter of 2022, according to the second estimate published by the Bureau of Economic Analysis on Wednesday. Today’s reading came in slightly higher compared to the initial estimate of 2.6%. The latest data “reflected upward revisions to consumer spending and …
Continue reading “US economic growth tops estimates, GDP up 2.9% in Q3”
(Reuters) – Former Russian President Dmitry Medvedev warned NATO on Tuesday against providing Ukraine with Patriot missile defence systems, denouncing the alliance as a “criminal entity” for delivering arms to what he called “extremist regimes”. Medvedev, who once cast himself as a liberal moderniser as president from 2008 to 2012, has increasingly emerged as one …
Continue reading “Medvedev: NATO could become legitimate target over Ukraine aid”
Bank of America Corporation CEO Brian Moynihan said on Tuesday, during an interview with CNN, that China’s most recent shutdowns of areas hit with the COVID-19 virus will cause further obstruction of supply chains. “We’re all concerned about it,” Moynihan stated, adding that from an economic perspective these shutdowns are likely to cause world disruptions. …
International Monetary Fund (IMF) Managing Director Kristalina Georgieva underlined on Tuesday it is “too early” for the Federal Reserve to “back off” interest rate increases, after several policymakers’ voiced support for slowing down the pace of the rate hikes starting from its December meeting. The IMF head also expressed optimism that the energy crisis brought …
Continue reading “IMF says ‘too early’ for Fed to back off rate hikes”
TOKYO/SINGAPORE (Reuters) -Oil jumped on Tuesday, buoyed by hopes that China would relax its COVID-19 controls after rare protests against the country’s zero-COVID strategy over the weekend in big Chinese cities. Brent crude futures advanced $1.4, or 1.7%, and traded at $84.57 a barrel at 0645 GMT. U.S. West Texas Intermediate (WTI) crude futures rose …
Continue reading “Oil Up as OPEC meets and China spins COVID infections”
Stocks sank on Monday as protestors in China and hawkish comments from Fed officials weighed on the market. Unrest over China’s zero-COVID policy could exacerbate supply-chain issues, which are partly responsible for rising inflation. St. Louis Fed President James Bullard added the US had “a ways to go” on rate hikes before claiming victory on …
Continue reading “Dow plunges 500 pts amid China protests, Fed’s remarks”
St. Louis Fed President James Bullard confirmed on Monday the Federal Open Market Committee (FOMC) would have to continue hiking rates next year until it reaches the 5-7% rate range. This means the Fed will have to increase its key rates by at least one more percentage point. Bullard agreed with his colleague from the …
U.S. stock-index futures sank Sunday night, indicating possible losses on Wall Street on Monday, as Asian markets fell following widespread public demonstrations in China and as oil prices hit a 2022 low. Dow Jones Industrial Average futures YM00, -0.36% were down more than 150 points, or 0.5%, as of 11:30 p.m. Eastern, above their session …
Continue reading “U.S. stock futures fall as Chinese protests rattle markets, oil hits 2022 low”