The Kobeissi Letter reported that bank cash at the Federal Reserve fell to about $2.93 trillion; Adam Livingston says that level signals a shift that would favor bitcoin.
Sen. The United States national debt has climbed to $38 trillion, prompting calls for new approaches to restore fiscal stability. Interest payments are projected to reach $14 trillion over the next decade, raising concerns about long-term solvency. Lummis said selling or revaluing U.S. gold certificates to fund Bitcoin purchases could "cut the national debt in half over 20 years."
Wall Street is discreetly gearing up for a significant alteration in the Federal Reserve?s $6.6 trillion balance sheet, coinciding with a sudden rise in Bitcoin?s price. According to a report, Bitcoin?s price has recovered from a recent ?flash crash,? soaring nearly 10% and surpassing $111,000.
Major cryptocurrencies are trading higher ahead of a busy week featuring key Federal Reserve and Bank of Japan rate decisions alongside earnings reports from influential Mag 7 stocks.
Grant Cardone, the U.S. real estate mogul behind Cardone Capital, is closely watching where trillions in money market cash might flow next. What Happened: In a recent X post, Cardone cited Federal Reserve data showing around $7 trillion sitting in money markets. The post drew lively discussion.
Wall Street's equity benchmarks hit fresh all-time highs on Friday after a soft consumer inflation report reinforced expectations of further monetary policy easing by the Federal Reserve next week.
US equity indexes closed higher on Friday after mild consumer inflation data from September reinforced interest rate cuts and a rise in technology stocks. * Inflation in the US rose at a slower pace in September, with the consumer price index up 0.3% from the previous month, easing from August's 0.4% increase, according to the Bureau of Labor Statistics.
"Investors were not disappointed," said John Kerschner, global head of securitized products and portfolio manager at Janus Henderson (JHG). "Inflation came in softer than expected, leading to a tepid bond market rally" and ensuring a rate cut at the upcoming Federal Open Market Committee meeting.
A cooler-than-expected inflation report is likely to give the Federal Reserve the confidence it needs to proceed with a rate cut next week, as markets now fully price in a quarter-point reduction in the federal funds rate.
Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index up 1% and the Financial Select Sector SPDR Fund adding 1.3%. The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund increased 0.6%. Bitcoin added 0.3% to $110,928, and the yield for 10-year US Treasuries was one basis point higher at 4.00%. In economic news, the consumer pric...
Consumer stocks were lower late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund down 0.4% and the Consumer Discretionary Select Sector SPDR Fund easing 0.3%. The University of Michigan consumer sentiment index for October was revised down Friday to 53.6 from the 55.0 print in the preliminary estimate, compared with expectations for a smaller downward revision to 54.5 in a su...
American debt hit a record high of $38 trillion earlier this week. A government shutdown isn't the only thing that could be putting pressure on the country?s health moving forward, as the national debt passed $38 trillion for the first time. While that milestone is alarming on its own, the speed of the increase is even more striking.
Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index up 1% and the Financial Select Sector SPDR Fund adding 1.3%. The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund increased 0.6%. Bitcoin added 0.3% to $110,928, and the yield for 10-year US Treasuries was one basis point higher at 4.00%. In corporate news, Coinbase shares ...
The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.
Reckoner Capital Management introduced its newest ETF, the Reckoner BBB-B CLO ETF (RCLO), launched on Wednesday, with more than $27 million in assets under management. John Kim, Reckoner co-founder and CEO, explained the launch timing amid high investor demand for CLO-targeted ETFs, especially from those seeking higher yields and diversification away from conventional fixed-income products.
The consumer price index rose by 0.3% in September and was up 0.2% excluding food and energy prices, both measures below expectations. The overall gain lifted the year-over-year increase to 3% from 2.9% in August, while the core measure was up 3% year-over-year after a 3.1% rate in the previous month.
US benchmark equity indexes were higher intraday after a soft September inflation report reinforced expectations of further monetary policy easing by the Federal Reserve. The Nasdaq Composite was up 1.4% at 23,251.1 after midday Friday, while the Dow Jones Industrial Average rose 1.2% to 47,273.1. The S&P 500 rose 1% to 6,804.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund adding 1.2%. The Philadelphia Housing Index rose 0.8%, and the Real Estate Select Sector SPDR Fund increased 0.7%. Bitcoin edged up 0.2% to $110,347, and the yield for 10-year US Treasuries was slightly higher at 3.99%. In economic news, the consumer price...
Gold moved lower early on Friday, resuming a correction from Monday's record high, even as a key U.S. inflation measure slowed last month, firming expectations for a cut to interest rates by the Federal Reserve.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund adding 1.2%. The Philadelphia Housing Index rose 0.8%, and the Real Estate Select Sector SPDR Fund increased 0.7%. Bitcoin edged up 0.2% to $110,347, and the yield for 10-year US Treasuries was slightly higher at 3.99%. In corporate news, Brookfield Asset ...
US equity indexes broke records as cooling consumer price inflation reinforced market expectations that the Federal Reserve will cut interest rates two more times this year. The Nasdaq Composite climbed 1.3% to 23,238.2, after hitting a record 23,246.546 level earlier in the session. Technology, utilities, and communication services emerged as the top gainers intraday.
US private-sector output grew in October at the fastest pace in three months amid gains in both manufacturing and services, according to S&P Global's (SPGI) flash purchasing managers' index released Friday. The composite output index rose to 54.8 this month from 53.9 in September, compared with a 53.5 reading in a survey compiled by Bloomberg.
All three major US stock indexes were up in late-morning trading Friday after the latest consumer price index showed inflation came in below expectations. The US seasonally adjusted CPI rose by 0.3% in September, below expectations for a 0.4% gain in a survey compiled by Bloomberg and following a 0.4% increase in August, according to data released Friday by the Bureau of Labor Statistics.
US consumer sentiment dropped for a third consecutive month as concerns over high prices persisted, final survey results from the University of Michigan showed Friday. The main sentiment index slipped to 53.6 this month from 55.1 in September.
A wide range of economists say the Federal Reserve now has the green light to cut interest rates, following a cooler-than-expected inflation report that suggests price pressures are easing ? and that monetary policy can shift focus toward the softening labor market.
US consumer prices grew less than expected in September, while core inflation surprisingly ticked down, reinforcing expectations for another interest rate cut next week. The Bureau of Labor Statistics originally planned to release the September consumer price index report on Oct. 15, but rescheduled it due to the ongoing government shutdown.
The University of Michigan consumer sentiment index for October was revised down Friday to 53.6 from the 55.0 print in the preliminary estimate, compared with expectations for a smaller downward revision to 54.5 in a survey compiled by Bloomberg. That was below the final reading of 55.1 in September.
Gold moved lower early on Friday, resuming a correction from Monday's record high, even as a key U.S. inflation measure slowed last month, firming expectations for a cut to interest rates by the Federal Reserve.
Price pressures edged up in September, but at a slower-than-expected pace, with key inflation metrics reinforcing the Federal Reserve's current rate-cut path and fueling investor optimism on the stock market. The headline CPI rose 3% year-over-year, according to Friday?s report from the Bureau of Labor Statistics ? released after a nine-day delay due to the government shutdown.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.3% in September, below expectations for a 0.4% gain in a survey compiled by Bloomberg as of 7:30 am ET and following a 0.4% increase in August, according to data released Friday by the Bureau of Labor Statistics.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust was 0.5% higher in Friday's premarket activity, ahead of the potential release of the delayed September CPI report.
JPMorgan Chase (JPM) and Mitsubishi UFJ Financial Group (MUFG) are among the banks leading a $38 billion debt offering as soon as Monday for data center projects in Texas and Wisconsin, Bloomberg reported Friday, citing sources familiar with the matter.
California's recent tax revenues exceeded forecasts, but the state faces structural deficits that drive budgetary borrowing and have narrowed its reserves.
European bourses tracked modestly lower midday Friday as traders weighed economic and earnings reports, and awaited a European Central Bank rate decision slated for next Thursday. Retail and tech stocks led gainers on continental trading floors, while food and property shares lagged.
The US dollar rose against its major trading partners early Friday ahead of the rescheduled consumer price index report for September at 8:30 am ET. The report was originally set to be released on Oct. 15, before being delayed due to the government shutdown.
Russia's central bank Friday said its Board of Directors decided to cut the key rate by 50bps to 16.50%, as inflation expectations remain "high." The rate reduction was less than the median consensus expectation for a 100bps cut, provided by Commerzbank, although the bank pointed out that some forecasters anticipate the rate being left unchanged.
Wall Street futures pointed moderately higher pre-bell Friday as traders awaited the next inflation report from Washington, and weighed earnings-season results.
CIBC said it expects the Bank of Canada to ease administered rates by 25bps next week. This will take the policy interest rate to 2.25%, the deposit rate to 2.20% and the bank rate to 2.50%. Canada's central bank is slated to publish its policy statement next Wednesday, at 9:45 a.m. ET.
Canadian retail sales jumped 1% month over month in August in both nominal and real terms, said Bank of Montreal. Despite that decent print, sales have been "choppy" in recent years, noted the bank. The previous inflation spike and resulting monetary tightening, the soft labor market, and trade and economic uncertainty have all weighed heavily on consumers, pointed out BMO.
"Over the next fiscal year, I look forward to collaborating with MSRB Board members from across our industry, and the nation," Board Chair Natasha Holiday said.
Societe Generale in its early Friday economic news summary pointed out: -- US dollar bid, United States Treasury yields steady ahead of U.S. CPI, PMIs. -- Germany manufacturing PMI firms to 49.6 in October from 49.5, services leap to 54.5 from 51.5, the strongest since May 2023. -- Japan's consumer price index accelerates to 2.9%% year over year in September from 2.7% in August.
The release of September's Consumer Price Index (CPI) is expected to show a 3.1% rise in the cost of living from a year earlier, the highest in 18 months, according to FactSet.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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