Update (0930ET): President Biden released a statement Friday morning on the assassination of former Japanese Prime Minister Shinzo Abe. Biden said he was “stunned, outraged, and deeply saddened” by the news. Here’s President Biden’s full statement: I am stunned, outraged, and deeply saddened by the news that my friend Abe Shinzo, former Prime Minister of… Continue reading Former Japanese PM Abe Shot Dead During Speech, “Frustrated” Assassin Arrested
Category: Finance
Wall Street Stunned As June Payrolls Unexpectedly Smash Expectations As Labor Force Shrinks, Household Survey Tumbles
With even permabull economists conceding that the US economy is slowing rapidly and today’s payrolls report should show a big slowdown, moments ago the BLS confirmed yet again that the monthly payrolls number is nothing but a politically mandated homework assignment (where trends only change when someone gets a tap on the shoulder), when –… Continue reading Wall Street Stunned As June Payrolls Unexpectedly Smash Expectations As Labor Force Shrinks, Household Survey Tumbles
Biden Signs Executive Order In Attempt To Safeguard Abortion Access After Flood Of Criticism
The Biden administration is desperately attempting last-ditch efforts at protecting legal access to abortion in the wake of the Supreme Court’s monumental overturning of Roe v. Wade, with the President signing an an executive order Friday aimed at “protecting access to reproductive health.” Despite Biden calling the court’s decision a “tragic error” – fellow Democrats… Continue reading Biden Signs Executive Order In Attempt To Safeguard Abortion Access After Flood Of Criticism
The One Commodity That Won’t Stop Soaring
Authored by Tsvetana Paraskova via OilPrice.com, In the past week, nearly all commodity markets have crashed amid growing fears of a recession, but one commodity price continues to rise. A combination of reduced supply from Russia and an outage at the U.S. Freeport LNG facility has sent natural gas prices soaring. One analyst compared today’s… Continue reading The One Commodity That Won’t Stop Soaring
Something Snaps In The US Labor Market: Full, Part-Time Workers Plunge As Multiple Jobholders Soar
Something odd emerges when looking at the June payrolls report. On one hand, the closely followed establishment survey came in red hot, and despite dropping modestly from May, it still printed some 100K above the median consensus expectation, printing at 372K… … and with wages coming in line, rising 0.3% M/M or 5.1% Y/Y, it… Continue reading Something Snaps In The US Labor Market: Full, Part-Time Workers Plunge As Multiple Jobholders Soar
“The Debate Is Over”: Morgan Stanley Unloads On The Dismal State Of The US Consumer
Yesterday, we reported that in Morgan Stanley’s Sunday Start note, the bank’s chief US equity strategist, Michael Wilson, wrote that while valuations have corrected a lot this year, this was all due to higher inflation and a more hawkish Fed. At the same time, the Equity Risk Premium (ERP) still does not reflect the risks… Continue reading “The Debate Is Over”: Morgan Stanley Unloads On The Dismal State Of The US Consumer
Musk Says Q2 Has Been A “Tough Quarter” For Tesla In Internal Email
Elon Musk is apparently already lamenting what is going to a “tough quarter” for the company – though warnings like these in the past have sometimes appeared to be Musk setting low expectations for the market so the company’s numbers simply don’t look as bad. We won’t know until Tesla reports its Q2, but for now one… Continue reading Musk Says Q2 Has Been A “Tough Quarter” For Tesla In Internal Email
We Are Trading Like It’s A Race Which Central Bank Can Crash Their Economy The Fastest
By Michael Read, Bloomberg Markets live commentator and reporter Big moves in high volumes — that’s where we are at so far today. Eurodollar futures are down 20-23 ticks in the red pack and 17-19 ticks in greens, with volumes over 200% of the 7-day average during the last five hours of trading. Spicy. In… Continue reading We Are Trading Like It’s A Race Which Central Bank Can Crash Their Economy The Fastest
Iran Says Nuclear Deal Remains “Possible” As Latest Technical Advances Still “Reversible”
Within a mere months ago there were high hopes that Iran and global signatories to the 2015 JCPOA were wrapping up a restored nuclear deal. There was even talk that a finalized agreement was ‘imminent’ – but now just weeks after some of these optimistic headlines at a moment Washington scrambles to tap more global… Continue reading Iran Says Nuclear Deal Remains “Possible” As Latest Technical Advances Still “Reversible”
El Erian: Inflation “Could Have Been Avoided” If Fed Had Acted Earlier
Authored by Rita Li via The Epoch Times, Allianz chief economic adviser Mohamed El-Erian said in an interview that the current inflation problem in the United States could have been largely avoided if the Federal Reserve acted earlier. “The problem for us all is they’re far away from the first best response,” El-Erian told CBS’ “Face the Nation” on June 12.… Continue reading El Erian: Inflation “Could Have Been Avoided” If Fed Had Acted Earlier