U.S. home sales in 2022’s last quarter dove 40 percent from the same period in 2021, online brokerage Redfin reported.
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WHOLESALE INFLATION STRONGER IN JANUARY THAN PREDICTED
In January, the Producer Price Index (PPI), a measure of wholesale prices, gained 0.7 percent, the greatest monthly increase since June, and 6 percent annually, the U.S. Bureau of Labor Statistics reported.
AMERICANS ARE TAPPING THEIR SAVINGS TO MEET BASIC EXPENSES
Twenty-seven percent of Americans are pulling money out of their savings accounts to keep spending, and 54 percent of that group is using that money to meet basic living expenses, an Ipsos poll has found.
CONSUMERS SPENT MORE TO BUY LESS IN JANUARY
The dollar volume of U.S. retail sales last month shot up 3 percent from December’s total, according to the U.S. Census Bureau, beating analysts’ prediction of a 1.8-percent rise.
NATIONAL DEBT TO GROW BY $19 TRILLION BY 2033
Current federal spending trends will add $19 trillion to the U.S. national debt over the next ten years, $3 trillion more than previously estimated, because of additional expenses in interest payments, military budgets, and retirement and veterans benefits, the Congressional Budget Office (CBO) said in a 15 February report.
U.S. ECONOMY REMAINS SURPRISINGLY RESILIENT. OOPS.
Household incomes are rising, the economy is adding jobs, and consumers spent 3 percent more money in January than in December, following two months of decline.
RECESSION, “HARD LANDING” DUE AFTER JUNE
A U.S. recession will arrive in the second half of this year, bogging down stock prices, Bank of America analysts predicted in a report last week.
EMERGING MARKETS’ STOCK AND BOND RUN IS RUNNING DOWN
Developing nations began this year by selling almost $41 billion in bonds, with their equity markets riding the wave.
INVESTMENT-GRADE BOND FUNDS GAIN RECORD VOLUME OF NEW INVESTMENTS THIS YEAR
Since 1 January, funds around the world investing in investment-grade corporate bonds—a category that excludes junk bonds—have taken in about $19 billion in new cash, the Financial Times reported, a record amount at this point in any year.
MARKETS REVISE THEIR OUTLOOK ON INTEREST RATES
In recent weeks, markets had banked on the idea that the U.S. Federal Reserve would either continue to increase its key interest rate modestly, hold rates where they are, or even cut them.