Feb 6, 2024 | Markets
The New York Fed’s Center for Microeconomic Data released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2023 this morning. Household debt balances grew by $212 billion over the last quarter. Although there was growth across most loan...
Feb 6, 2024 | Markets
The Fed isn’t going to cut rates in May. Wages are growing and productivity is growing, too. But it may not be able to cut rates anytime soon. Here’s why: A record $8.9 trillion of government debt will mature over the next year, see the first chart below. The...
Feb 5, 2024 | Markets
Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks. What’s amazing about the mess of the office sector of commercial real estate (CRE) is just how far and wide these mega-losses – by some...
Feb 4, 2024 | Markets
Processing fees hit record low as smelters compete for ore Nation’s capacity expansion is likely to continue regardless Years of relentless growth are finally catching up with China’s copper smelters. Stung by disappearing profits, the country’s top industry body last...
Feb 3, 2024 | Markets
The grim state of China’s housing market has so far had little effect on the iron ore price because its steel mills are diverting their surplus output onto export markets where they are adding to what the OECD says is a crisis of excess steel supply. While the...
Feb 2, 2024 | Markets
Investors not bothered by change in timing of rate cuts: BofA Magnificant Seven technology stocks driving S&P 500 returns The rush into technology stocks is resembling the bubble of 1999, reflecting an assumption that the economy will perform strongly despite...
