You can also read the St. Louis Fed’s white paper here.
US bank stocks declined after Moody’s Investors Service lowered its ratings for 10 small and midsize lenders and said it may downgrade major firms including U.S. Bancorp, Bank of New York Mellon Corp., State Street Corp., and Truist Financial Corp. Higher funding costs, potential regulatory capital weaknesses and rising risks tied to commercial real estate
Congratulations, of a perverse sort, to President Biden and his Congressional comrades. The latest budget figures show that they are breaking peacetime, non-crisis records for spending and deficits. And there’s no respite in sight. The Beltway brethren racked up a deficit of $1.62 trillion for the first 10 months of the fiscal year, according to
Japanese government bond yields jumped on Monday as global debt, currency and equity markets began to absorb a landmark shift by the Bank of Japan to allow yields to rise more freely. Analysts said BoJ governor Kazuo Ueda’s decision to loosen the central bank’s grip on long-term bond yields marked a significant step towards unwinding
Industrial shares are on a tear, junk-bond spreads are narrowing, quants are ramping up Treasury shorts and everyone is piling into stocks. What once was a posture of skepticism among investors has morphed into something approaching euphoria. Cash and hedges are out, replaced by demand for everything from small caps to meme stocks. Fueling the