A little more judging by stock futures reaction this morning. Thank China for some of that as the country announced the biggest easing in COVID travel requirements since about March 2020. China’s news may add to the sense that inflation has peaked, given the supply constraints that the lockdown there has produced. That brings us … Read more
It’s easy to want to duck for cover given the carnage seen this year in stocks and bonds, particularly with the Federal Reserve vowing to wage an unconditional battle against high inflation. While inflation running at a 40-year high still sits near the top of the list of worries for many investors, another potential bugaboo … Read more
Bank of America Corp. and JPMorgan Chase & Co. emerged with the lowest marks among the overall passing grade for banks in the Fed’s annual stress test, analysts at Jefferies and Citigroup said Friday. Also weighing in on the stress test, Morgan Stanley analyst Betsy Graseck cut her price targets for Bank of America Corp. … Read more
Yet a big question still facing investors, lenders and anyone trying to navigate the still-hot housing market is whether the Federal Reserve will start selling its trove of mortgage holdings to fortify its inflation fight. The central bank is so far trying to counter inflation by more traditional means: raising benchmark interest rates. No doubt, … Read more
In the history of the Federal Reserve, the most revered chairmen are William McChesney Martin, Paul Volcker and Alan Greenspan. All gained their reputation by decisive monetary policy action at times when stock and bond markets did not want or expect them to act. William McChesney Martin was blamed for creating the recessions in the … Read more
The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it passed its annual stress test of capital reserves. The Fed estimated $612 billion in losses potential for banks in its most severe economic scenario, and said … Read more
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’ll walk you through what’s going on in the current bear market. As usual, find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also reach me through email … Read more
As the country enters hurricane season from June 1 to the end of November, homes in New York and Miami are at the highest risk for property damage, according to a report released Wednesday from housing-research firm CoreLogic. Overall, more than 33 million homes in America are at risk of suffering damage from hurricanes, according … Read more
Steve Reich Mortgage rates climbed above 6% last week, according to Bankrate data, with some pros saying they may go higher. (You can see the lowest mortgage rates you may qualify for here.) On top of that, home prices have risen more than 20% year-over-year, causing affordability challenges for many aspiring homebuyers. And it’s likely … Read more
Ben Bernanke, former chairman of the Federal Reserve, has been a vocal skeptic on bitcoin BTCUSD, -1.34%. It’s stated that the cryptocurrency has no underlying value and cannot act as a store of value, which renders it not credible as a currency. “If bitcoin were a substitute for fiat money, you could use bitcoin to … Read more
