- The Problem With Analysts Forecasts: Lance Roberts
Near bull market peaks, investors begin to rationalize overpaying for assets. Inevitability, the myth of "cash on the sidelines," is used.
- 3 days ago, 15 Jan 21, 7:50pm -
- World Economy Boxed In, Gaping Deficit, Taper Specter
Shocks to supply chains are engulfing a wider swath of the global economy, threatening to stifle Asia’s trade-led recovery...
- 3 days ago, 15 Jan 21, 7:43pm -
- Japan’s 2020 Corporate Bankruptcies Fall to 31-Year Low with Government Aid
The drop reflects the impact of the government's measures, including interest-free loans without collateral that helped small and medium-sized companies.
- 3 days ago, 15 Jan 21, 7:43pm -
- ECB’s Stournaras: Many Euro Zone Banks Underestimate Credit Losses from Pandemic
Many euro zone banks underestimate credit losses they are likely to incur from the COVID-19 pandemic and supervisors will focus on asset quality this year, European Central Bank Governing Council Member Yannis Stournaras said on Friday.
- 3 days ago, 15 Jan 21, 7:24pm -
- Wells Fargo Slides After Another Dismal Quarter With Misses Across The Board
As a result of these ugly results, the stock is not happy, sliding over 2%.
- 3 days ago, 15 Jan 21, 7:23pm -
- Higher Costs, Weak Revenue Cloud Citi’s Quarterly Profit Beat
Citigroup Inc reported fourth-quarter profit that beat market expectations on Friday, but that failed to impress Wall Street as higher costs and a fall in revenue across its consumer business weighed on the results.
- 3 days ago, 15 Jan 21, 7:22pm -
- JPMorgan’s Record Profit Comes With Warning That Risk Isn’t Gone
Still, the firm cautioned that uncertainty remains and that it wasn’t reducing the money set aside for credit card losses as it waits to see the impact of fiscal stimulus efforts.
- 3 days ago, 15 Jan 21, 7:09pm -
- More Cash Means More Problems for Big Banks: WSJ
Large lenders enter 2021 coiled with potential energy from their deposit-fueled cash piles, but it’s hard to pinpoint when that might translate into shareholder returns.
- 3 days ago, 15 Jan 21, 7:01pm -
- Fed’s Rosengren Says Need to Keep Buying MBS, Treasuries
Federal Reserve Bank of Boston President Eric Rosengren said on Friday he welcomes President-elect Joe Biden's proposed $1.9 trillion stimulus package as "big" but "appropriate," and signaled the Fed has no inclination to dial back from its own super…
- 3 days ago, 15 Jan 21, 6:58pm -
- Fed’s Kashkari Sees Pandemic Hampering Activity Through All of 2021
Federal Reserve Bank of Minneapolis President Neel Kashkari on Friday said he believes the pandemic will weigh on Americans through all of 2021, and emphasized the need for a speedier vaccine rollout as well as continued fiscal support.
- 3 days ago, 15 Jan 21, 6:55pm -
- You Can Switch Your Medicare Advantage Plan If You Want To
While you can switch to a different Advantage Plan through March 31, there are some key aspects of coverage to check before you finalize your decision.
- 3 days ago, 15 Jan 21, 6:48pm -
- The Social Security Retirement Age Could Change. What That Could Mean for Benefits
Social Security rules may alter the age at which people are eligible for full benefits. A new congressional report examines how that would work.
- 3 days ago, 15 Jan 21, 6:46pm -
- IRS delays start of tax filing season to Feb. 12
This year, however, the IRS will need more time to prepare after the Covid relief act that took effect in late December. And yes, the tax filing deadline is still April 15.
- 3 days ago, 15 Jan 21, 6:21pm -
- ‘Spend As Much As You Can,’ IMF Head Urges Governments Worldwide
Policymakers worldwide should embrace more spending to help revive their stuttering economies, the head of the International Monetary Fund said on Friday at Russia's annual Gaidar economic forum.
- 4 days ago, 15 Jan 21, 5:35pm -
- Expect the Weak Dollar Trend to Return: Bloomberg
It was meant to be the no-brainer trade of 2021: Keep selling the dollar on a big-spending Joe Biden presidency. The money-printing required to fund U.S. stimulus would heap pressure on the greenback, reinforcing a market dynamic at work since March.
- 4 days ago, 15 Jan 21, 5:26pm -
- Global Economy Starts the New Year Weaker Than 2020 Ended
After the holiday slump, activity in several of the world’s largest advanced economies extended their recovery in the second week of January. Yet compared with early December, Bloomberg Economics gauges that integrate data such as mobility, energy…
- 4 days ago, 15 Jan 21, 5:20pm -
- ECB Warns Banks Have Yet to Fully Feel Pandemic’s Impact
“The crisis is not over, and its economic impacts have still to fully emerge,” Irish governor Gabriel Makhlouf said on a panel Friday. “Euro-area banks are likely to face significant losses and further pressure on their already weak profitabili…
- 4 days ago, 15 Jan 21, 5:16pm -
- Inflation Plays Are Outperforming Deflation Assets by the Most in 15 Years: MW
The new year is obviously young but already there is a pretty clear theme on display in financial markets.
- 4 days ago, 15 Jan 21, 4:38pm -
- Dollar Index on Track for Biggest Weekly Gain Since November
Currency markets turned risk-averse on Friday, with the dollar on track for its biggest weekly gain since November 2020 and analysts predicting further short-term strength as rising coronavirus infections limit risk appetite.
- 4 days ago, 15 Jan 21, 4:38pm -
- Goldman Pours Cold Water On Biden's Fiscal Plan, Sees Just $1.1 Trillion Enacted
Biden will likely outline this second proposal in a few weeks, potentially around the time the White House submits a preliminary annual budget proposal to Congress.
- 4 days ago, 15 Jan 21, 4:21pm -
- China Set to Topple U.S. as Biggest Economy Sooner After Virus
China’s economic ascent is accelerating barely a year after its first coronavirus lockdowns, as its success in controlling Covid-19 allows it to boost its share of global trade and investment.
- 4 days ago, 15 Jan 21, 3:52pm -
- One of the Greatest Economic Blunders in History: Rickards
We cannot print our way out of a liquidity trap. We cannot spend our way out of a debt trap. The Fed and Congress may try to stimulate the economy, but they will fail.
- 4 days ago, 15 Jan 21, 3:49pm -
- UK Economy to Take at Least Two Years to Return to Pre-COVID-19 Level
It will take more than two years for Britain's economy to recover to its pre-COVID-19 level, a Reuters poll found, but the Bank of England was still expected to keep rates steady until at least 2024 and to avoid negative borrowing costs.
- 4 days ago, 15 Jan 21, 3:39pm -
- The U.S. and China Are Running Out of Time: Bloomberg
President-elect Joe Biden and China’s Xi Jinping know their nations need to find a way to manage their rivalry over the long-term. If the two leaders are to put the relationship on a more even keel, though, they don’t have much time.
- 4 days ago, 15 Jan 21, 3:39pm -
- America’s Biggest Owner Of Farmland Is Now Bill Gates
Bill Gates, the fourth richest person in the world and a self-described nerd who is known for his early programming skills rather than his love of the outdoors, has been quietly snatching up 242,000 acres of farmland across the U.S. — enough to mak…
- 4 days ago, 15 Jan 21, 3:02pm -
- Tech Exodus: California Tech Companies Leaving For Texas
A growing number of tech companies are packing their bags and moving out of the Golden State. Leading names in the industry are now adding their names to the list.
- 4 days ago, 15 Jan 21, 2:51pm -
- Tech Coalition Working to Create Digital COVID-19 Vaccination Passport
A coalition of health and technology organizations are working to develop a digital COVID-19 vaccination passport to allow businesses, airlines and countries to check if people have received the vaccine.
- 4 days ago, 15 Jan 21, 2:48pm -
- Rabobank: "The Fed Is In A Fantastic Position Where The More It Fails, The More It Is Needed"
The Fed’s Powell made it clear yesterday: “Now is not the time to be talking about exit. I think that another lesson of the global financial crisis is be careful, not to exit too early.” Folks, that is the *only* lesson the Establishment has le…
- 4 days ago, 15 Jan 21, 2:42pm -
- Four Things That Could Pop the ‘Rational Bubble’ in Equities: Mohamed El-Erian
There could be “some sort of market accident. We are seeing a lot of risk taking,” El-Erian pointed out. This harkens back to the crash of 1999, when valuations of tech startups soared, then crashed, as investors were willing to pay elevated pric…
- 4 days ago, 15 Jan 21, 1:49pm -
- These States Are Suffering the Worst Sustained Unemployment
While some states have seen unemployment applications recede from record highs after the coronavirus pandemic first roiled America’s employment picture, others have suffered stubbornly high job losses months into the recovery.
- 4 days ago, 15 Jan 21, 1:44pm -
- US Retail Sales Tumble For 3rd Straight Month On Slump In Restaurant & Online Spending
The biggest headline under the surface is the fact that non-store retailers (Amazon etc.) plunged 5.8% MoM. And while motor vehicles sales rose 1.9%, the lockdowns sent Food Services & Drinking Places sales down 4.5% MoM...
- 4 days ago, 15 Jan 21, 1:40pm -
- JPMorgan Beats Profit Estimates on Better-than-Expected Credit, Record Trading Revenue
The bank released $2.9 billion from its pile of cash set aside for expected loan defaults in the quarter, resulting in a $1.9 billion boost after about $1 billion in charge-offs
- 4 days ago, 15 Jan 21, 1:39pm -
- Pain, Despair and Poverty Reach Fever Pitch for Unemployed Workers
Nine months ago, the coronavirus pandemic upended the economy, swiftly pushing millions into joblessness. Financial plight has been growing steadily since the summer as Americans await further relief from Congress.
- 4 days ago, 15 Jan 21, 1:38pm -
- Stimulus Check Confusion and Delayed Tax Refunds: IRS Watchdog Details Failures
As the pandemic raged in 2020, the Internal Revenue Service stumbled, according to a new watchdog report, resulting in underpayments of stimulus checks, delayed tax refunds, and other missteps.
- 4 days ago, 15 Jan 21, 1:31pm -
- Biden Calls for $30 Billion More in Rental Assistance and Extending Eviction Ban
President-elect Joe Biden called on Congress to pass a range of protections and financial relief for Americans at risk of eviction or foreclosure.
- 4 days ago, 15 Jan 21, 1:27pm -
- The President-Elect’s Spending Plan Could Lead to an Event Like the 1929 Stock Market Crash
David Neuhauser, of small, Chicago-based hedge fund Livermore Partners, said that Biden's spending plan appeared to be an attempt to mimic the "roaring 20's."
- 4 days ago, 15 Jan 21, 1:16pm -
- Joe Biden Unveils $1.9 Trillion COVID Stimulus Plan
Biden unveiled his 2-step plan of "rescue and recovery" in a 30 minute presentation, which was just as was leaked in advance: a $1.9 trillion stimulus proposal which will encounter immediate Republican opposition due to its big-ticket spending on Dem…
- 4 days ago, 15 Jan 21, 1:12pm -
- Covid Live Updates: CNBC
The U.S. is recording at least 238,800 new Covid-19 cases and at least 3,310 virus-related deaths each day, based on a seven-day average of JHU data.
- 4 days ago, 15 Jan 21, 1:07pm -
- Gold Outlook 2021: World Gold Council
Gold outperformed major assets in 2020. We believe gold investment will remain well supported while gold consumption should benefit from the nascent economic recovery, especially in emerging markets.
- 4 days ago, 14 Jan 21, 8:56pm -
- Why Comparisons Between Bitcoin and Gold Are Absurd: David Rosenberg:
No one ever talks about the risk that gold could go to zero — because it can’t
- 4 days ago, 14 Jan 21, 8:51pm -
- What's Going To Happen To The Dollar?: Miller on the Money
“A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inf…
- 4 days ago, 14 Jan 21, 8:51pm -
- Biden Stimulus Plan Leaks: Will Total $1.9 Trillion, Includes $1,400 Stimmy Check
It may not be quite $2 trillion as CNN leaked last night, quoting "one lawmaker" in close contact with the Biden team who said it was "taking a shoot for the moon" approach with the package", but it's close.
- 4 days ago, 14 Jan 21, 8:48pm -
- Market Cap to GDP: An Updated Look at the Buffett Valuation Indicator
With the Q3 GDP Third Estimate and the December close data, we now have an updated look at the popular "Buffett Indicator" -- the ratio of corporate equities to GDP. The current reading is 176.6%, down from 174.3% the previous quarter.
- 4 days ago, 14 Jan 21, 8:30pm -
- Gundlach’s Forecast for 2021: The Year of Regime Change
In his forecast for 2021, Jeffrey Gundlach predicted a “regime change.” Investors should prepare for themes that reverse prior trends: U.S. equities will underperform the rest of the world, inflation will rise, volatility will be higher, and the…
- 4 days ago, 14 Jan 21, 8:27pm -
- UN Urges Nations to Scale Up Climate Change Adaptation to Avoid Major Economic Loss
The UN estimated that annual climate change adaption costs could reach between $140 billion and $300 billion by the end of the decade.
- 4 days ago, 14 Jan 21, 8:18pm -
- Atop the Powerful Budget Committee at Last, Bernie Sanders Wants to Go Big
Sanders, the most progressive member of the chamber, will have a central role in shaping and steering the Democrats’ tax and spending plans through a Congress that they control with the slimmest of margins.
- 4 days ago, 14 Jan 21, 7:49pm -
- Rising Rates Have Traders Debating Trigger Point for Stock Upset
As benchmark Treasury yields rise amid expectations for stronger growth, the key question on investor minds is how high can they climb before spoiling the global risk-asset rally. Some such as JPMorgan Asset Management worry about the pace of the asc…
- 4 days ago, 14 Jan 21, 7:38pm -
- Powell Sees No Interest Rate Hikes on the Horizon As Long As Inflation Stays Low
Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.
- 4 days ago, 14 Jan 21, 7:29pm -
- Let Unsound Money Wither Away
A bank deposit is not itself money and will only be paid and received in lieu of money as long as the public does not have the slightest doubt in the banks.
- 4 days ago, 14 Jan 21, 6:36pm -
- Is 2021 an Echo of 1641?
If you don't discern any of these dynamics in the present, what are you choosing not to see?
- 4 days ago, 14 Jan 21, 6:32pm -
