Asset managers BlackRock, State Street, and Vanguard are being investigated to determine if they have stuck to their roles as passive investors in several U.S. banks.
Category: 9 April 2024
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U.S. TRADE DEFICIT WIDENS AGAIN IN FEBRUARY
The U.S. trade deficit widened by 1.9 percent in February to $68.9 billion, deepening by 1.9 percent from January and expanding for the third consecutive month.
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MEGABANKS LIED TO SECURITIES INVESTORS
Several large U.S. banks overstated the income streams of commercial mortgage-backed securities when they were sold to investors, according to a forensic study by two business school professors.
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IN 22 STATES, YOU GOT TO BE RICH TO BUY A HOUSE
In 22 states and Washington D.C., potential home buyers need a six-figure income to afford a median-priced home, Bankrate.com has calculated.
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U.S. DEBT OUTLOOK WORSE THAN OFFICIALS ADMIT
In its latest forecast, the U.S. Congressional Budget Office (CBO) sees the federal government’s debt rising from 97 percent of GDP in the last fiscal year to 116 percent by 2034, higher than during World War II.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: GOLD SETS ANOTHER RECORD
Gold’s price rose another 1.61 percent on 5 April to trade at $2,325.70, giving a 12.77-percent gain so far this year.
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HEDGE FUNDS LOOK TO EUROPE TO EXTEND STOCK RALLY
As U.S. stocks become more expensive, investors are turning to Europe where valuations are lower and a cautiously optimistic economic outlook hints at rising equity markets, Bloomberg reported.
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TECH STOCKS WILL COOL AS MARKET RALLY BROADENS
The current stock market rally has been driven by tech stocks, particularly the “Magnificent Seven” of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.
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IN CENSORSHIP 2.0: SCOTLAND’S NEW LAW BANS FREE SPEECH
Scotland passed a new law that is ostensibly intended to firm up protection for minority groups from hate crimes but has been called intentionally vague and a major broadside attack against speech.
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AS FORECAST: U.S. SCHOOLS SEE ‘EXPLOSION’ OF STUDENTS MISSING FROM CLASS
The New York Times published a report late last month titled “Why School Absences Have ‘Exploded’ Almost Everywhere,” which noted that 26 percent of school students in the U.S. were “considered chronically absent last school year, up from 15 percent before the pandemic.”