The Wall Street Journal – Central Bankers Ramp Up Currency Wars Currencies have slumped across the globe in recent months as countries from India to China rushed to cut interest rates or take other action to boost faltering economic growth. The European Central Bank last week launched a bond-buying program in a strike against fears… Continue reading Currency Wars
The Wall Street Journal – How a Two-Tier Economy Is Reshaping the U.S. Marketplace The emergence of a two-tiered U.S. economy, with wealthy households advancing while middle- and lower-income Americans struggle, is reshaping markets for everything from housing to clothing to groceries to beer. “It’s a tale of two economies,” said Glenn Kelman, chief executive… Continue reading A Tale Of Two Income Brackets
Bloomberg – This Software Aims to Read Between Lines of Fed Statement The last official statement from the Federal Reserve’s policy committee was more than 700 words, but all that many players in financial markets cared about were whether two of them, “considerable time,” would be present. Evan Schnidman says he has a better way.… Continue reading Let The Machines Interpret FOMC Statements
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[pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=236″] CNBC – Rate hike now seen in September: CNBC Fed survey “The FOMC is in a terrible spot here,” John Donaldson of Haverford Trust wrote in response to the survey. “They need to begin to normalize rates so they have the full range of tools available if/when they need them in the… Continue reading The CNBC Fed Survey
The Wall Street Journal – Jon Hilsenrath: Hard Choices on Easy Money Lie Ahead for Fed Chief This week completes Ms. Yellen’s first year as central bank chief, one in which she followed through on a plan her predecessor put in place to wind down the Fed’s third bond-buying program aimed at bolstering the economy… Continue reading The FOMC Decision Is Today
<Click on chart for larger image> The Wall Street Journal – Big Oil Faces Time of Reckoning In the coming days, the world’s biggest publicly traded oil companies will report fourth-quarter earnings, offering the best look yet at the bite lower crude prices have taken out of Big Oil. For BP PLC, lower oil prices… Continue reading More On Q4 Earnings Expectations
<Click on chart for larger image> <Click on chart for larger image> The Wall Street Journal – Growth in U.S. Home Prices Continues to Slow November saw a further downshift in the yearly growth in home prices in many U.S. cities, according to a home price report released Tuesday. The home price index covering the… Continue reading Home Prices
Real Time Economics – A Midsummer Disinflation Nightmare for the Fed? They said Tuesday they expect the Fed to wait until March 2016 to start raising rates. Previously, they had predicted liftoff in January 2016. This puts Fed officials in an awkward position, particularly if unemployment continues to move lower. The jobless rate was 5.6%… Continue reading Inflation Expectations
The Wall Street Journal – ‘Staggering’ iPhone Demand Helps Lift Apple’s Quarterly Profit by 38% Apple Inc. surpassed even the most bullish Wall Street expectations for its holiday quarter with an improbable trifecta: selling more iPhones at higher prices—and earning more on each sale. The Cupertino, Calif., company said it sold 74.5 million iPhones in… Continue reading Apple’s Record Quarter
CNBC – Gundlach: Fed should hold line: ECB QE will fail The Federal Reserve has little justification to raise interest rates amid a deflationary global backdrop, bond expert Jeff Gundlach said. “There was a year, 1937, when the Federal Reserve tightened credit conditions prematurely and it led to the second leg of the Great Depression,”… Continue reading Gundlach: ECB QE Will Fail
Bloomberg.com – Tsipras Aims to Avert Catastrophe But Greek Markets Sink Further An index of Greek lenders dropped to its lowest level since at least 1995, with National Bank of Greece SA, Eurobank Ergasias SA and Piraeus Bank SA declining as much as 23 percent. “The overall environment is very negative and everybody is waiting… Continue reading Greece