Biden Will Continue to Lower Inflation
Inflation fell from 9.1% in June to 3%. Americans have lost buying power since Biden became president, raising inflation fears. Prices rose 15.6% and income 12.2% since January 2021. Trump’s actual earnings were 2.5% higher than Biden’s 1.1% decline. Since then, real wages have increased, which may slow profit growth in 2024. Biden’s favor rating…
The Collapse Of Credit Suisse, will maintain its archives for fifty years
According to the Aargauer Zeitung, a parliamentary investigation into Credit Suisse’s failure will seal its files for fifty years, causing concern among Swiss historians. After thirty years, the investigative committee will submit witness testimony and records to the Swiss Federal Archives. Sacha Zala, the president of the Swiss Society for History, emphasized the significance of…
Good News Comes With The Fallen of US Dollar
The dollar is falling due to weaker US inflation, benefiting risk assets worldwide. It is down 13% versus a basket of currencies and at its lowest level in 15 months. A weaker dollar makes US goods more competitive internationally and makes it cheaper for corporations to transfer foreign profits into dollars. Russell 1000 technology businesses…
Treasury euphoria fades away, following strong economic data.
Consumer sentiment has attained its highest level in nearly two years, and short-term price expectations have risen. The US yield increased by 14 basis points to reach 4.77 percent, and the dollar rebounded from its worst week since November. The S&P 500 had its strongest week since mid-June, despite stock market consolidation. Earnings estimates for…
Binance discharges workers just days after its top executives leave.
Binance, the world’s largest cryptocurrency exchange, has experienced job cuts due to management departures. The Wall Street Journal reported over 1,000 people laid off in recent weeks. Binance CEO Changpeng Zhao denied media estimates and stated that the exchange is still hiring. The SEC sued Binance and Zhao for “web of deception” last month, but…
Bitcoin lingers near its 13-month peak as investors rejoice.
A US court has ruled that Ripple Labs Inc.’s XRP coin is not a security, leading to a rise in Bitcoin’s price. This marks the first time the SEC has brought a case against a cryptocurrency company, and buyers are hopeful that other cryptocurrencies may not be stocks. Binance, the world’s largest cryptocurrency exchange, has…
U.S. banks say the economy is strong but slowing, and they warn of risks ahead.
Due to increasing interest rates and a robust economy, major U.S. banks reported increased profits, but consumer spending concerns, credit card losses, and office commercial real estate posed risks. Investors dismissed the earnings of JPMorgan Chase, Wells Fargo, and Citigroup, despite the fact that they were the finest in a while. At JPMorgan Chase and…
China Future Property Prices are moving very slowly
As economic growth slows, China’s new house prices stayed flat in June, the poorest performance of the year, pressuring government authorities to help. Developers defaulting on payments and suspending pre-sold housing project building hurt the property industry, which contributes for 25% of the nation’s GDP, in 2017. Over the last year, federal, state, and municipal…