(Reuters) – The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default. The Senate voted 63-36 to approve the bill that had… Read More »US Congress averts historic default, approves debt-limit suspension
When we look at recent declines in tech valuations, it’s tempting to turn to prior down markets for guidance on how a recovery might play out. Over the past 25 years, two historic downturns stand out as possible comps. One… Read More »Downturns Recover In Years. Popped Bubbles Take Decades
Three years ago, at the onset of the COVID-19 pandemic, CPA decision-makers in business and industry were historically pessimistic about their own organizations. A year later, they were mostly optimistic, with 76% in the second quarter of 2021 expressing optimism… Read More »Pessimism, contraction plans rise for CPA decision-makers, survey shows
A phenomenon that defined the pandemic-era labor market is over: the Great Resignation — workers furiously quitting for new, likely higher paying jobs — is a thing of the past. Why it matters: The historic surge of quitters was a… Read More »The Great Resignation is over, quit rates return to pre-pandemic levels
Bond traders look set to pivot from worrying the US wouldn’t raise its debt limit to fretting about what the increase means for money markets. The concern is that with a tentative deal pending, the Treasury will soon replenish its… Read More »Debt-Ceiling Relief May Be Short as Focus Turns to T-Bill Deluge
KEY POINTS Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures… Read More »Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed
The government’s two main measures of US economic activity diverged in the first quarter, with one gauge painting a picture of weakness. Gross domestic product rose at a revised 1.3% annualized pace in the first quarter, up slightly from the… Read More »Two Key Gauges of US Economic Activity Diverged in First Quarter
Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further, minutes… Read More »Fed officials less confident on the need for more rate hikes, minutes show
KEY POINTS Even as inflation cools, consumers still show signs of strain. As of April, the share of adults feeling stretched too thin held nearly steady at 61%, according to a new LendingClub report. However, high-income earners are increasingly under pressure, LendingClub found.… Read More »Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle
Investors are boosting their bullish bets on US equities, making positioning increasingly “one-sided,” according to Citigroup Inc. strategists. Market participants have added $21 billion in new long positions on S&P 500 futures, Citi’s data showed, even as talks in Washington… Read More »Citi Says Buyers Plow $21 Billion Into US Stocks