The Weekly Bottom Line: Inflation Pressures Remain Elevated
U.S. Highlights The consumer price index rose 0.4% in September, sending year-on-year inflation to 5.4%. Core prices (excluding food and energy) rose 0.2% on the month and held steady at 4.0% y/y. A 0.4% increase in the heavily-weighted shelter component...
Week Ahead: Will Risk-on Continue if there is Stronger Data this Week?
Last week was quiet as far as news was concerned, and the markets were left to themselves to act without an obvious catalyst. While the chatter was on higher US inflation and stronger bank earnings, markets seemed to brush them...
Retail Sales Recap: American Consumer is Alive and Well
US Retail Sales for September MoM increased by 0.7% vs an expectation of -0.2%. August’s print was also revised higher from 0.7% to 0.9%. It appears Americans haven’t been affected yet by any increasing costs due to supply chain issues. ...
Week Ahead: Rising Prices Raise Stakes for Rapid Rate Increases
All about Inflation Wall Street still remains upbeat despite growing an energy crisis that threatens the economic recovery, widespread price increases, and mixed economic data. It seems that inflation will remain elevated for a lot longer than the Fed imagined,...
Grayscale Investments close to filing application for spot bitcoin ETF, source says
Michael Sonnenshein, chief executive officer of Grayscale Investments LLC, speaks virtually during a Crypto Summit Feb. 25, 2021. Daniel Acker | Bloomberg | Getty Images Grayscale Investments plans on filing an application to convert the world’s biggest bitcoin fund into...
Michael Burry of ‘The Big Short’ asked about shorting crypto days before bitcoin hit $60,000
Andrew Toth | FilmMagic | Getty Images “The Big Short” investor Michael Burry inquired about ways to bet against bitcoin just before the world’s largest cryptocurrency hit a six-month high to breach the $60,000 level. “Ok, I haven’t done this before,...
Stocks making the biggest moves midday: J.B. Hunt, Charles Schwab, Virgin Galactic, 23andMe and more
Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. J.B. Hunt Transport Services — Shares of J.B. Hunt jumped...
91% of people with health savings accounts make this mistake
The Good Brigade | DigitalVision | Getty Images The vast majority of health savings account owners aren’t investing their money — and it’s likely shortchanging them over the long term. Just 9% of accountholders were investing a portion of their...
Forward Guidance: Inflation in Focus in BoC Surveys and Canadian CPI Data
Canada’s headline inflation rate likely rose again in September, to 4.2% year over year—the highest level since 2003. Outside of volatile food and energy products, it probably rose 3.3%. Faster growth in shelter-related expenses likely remained a key driver of...
Fed’s Barkin backs tapering plans and expresses concern about inflation
Richmond Federal Reserve President Thomas Barkin said Friday he’s on board with reducing the amount of economic help the central bank is providing as concerns grow about inflation. With the Fed indicating that it’s likely to start pulling back on...
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