The cost of hedging interest rates has become another blade slashing office landlords’ operating margins. For many, it may be the factor that forces them to sell or declare bankruptcy.
Category: 9 May 2023
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GLOBAL FOOD PRICES RISE IN APRIL, ENDING 12-MONTH DECLINE
The overall global price of foods rose 0.6 percent in April, the first time in a year that the price failed to decline, according to the U.N. World Food Price Index.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is week 38 of our reporting the long trend-line of layoffs that signal recession in a country near you. Inflation and interest rate hikes are causing companies in many sectors to lay off employees.
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SALES OF NEWLY BUILT HOMES SURGE
Newly built homes made up about a third of homes listed for sale in March, according to the U.S. commerce department and the National Association of Realtors (NAR).
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FED HIKES RATE A QUARTER POINT, HINTS IT MIGHT STOP NOW
As expected, the U.S. Federal Reserve raised its key interest rates a quarter point on 3 May, setting them at 5 percent on deposits and 5.25 percent on loans, their highest levels since 2007 as the Great Recession set in.
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JOBS, WAGES BOTH RISE AGAIN IN APRIL
The U.S. economy sprouted 253,000 new nonfarm jobs last month, galloping past analysts’ consensus expectation of 180,000.
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CHINA OUTPACES U.S. IN INITIAL PUBLIC STOCK OFFERINGS
Initial public stock offerings (IPOs) in China raised five times as much money as U.S. IPOs in this year’s first quarter, the Financial Times reported.
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CORPORATE PROFITS EDGE UP
With about 70 percent of S&P-listed companies having reported their first quarter’s earnings, net profit margins of those companies have ticked up to 11.5 percent from 11.3 percent the quarter before, according to The Wall Street Journal.
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TOP TREND 2023, AI WE OWN YOU: CHATGPT GOUGES EDUCATION STOCKS
Education stocks sold off last week after Chegg Inc., which publishes textbooks, study guides, and other learning materials, warned that the surge of students’ interest in the ChatGPT artificial intelligence (AI) was hurting sales and “having an impact on our customer growth rate,” CEO Dan Rosensweig said in a call with analysts.
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DISARM THE IRS, DE-MILITARIZE THE BUREAUCRACY AND DISMANTLE THE STANDING ARMY
“There are instruments so dangerous to the rights of the nation and which place them so totally at the mercy of their governors that those governors, whether legislative or executive, should be restrained from keeping such instruments on foot but in well-defined cases. Such an instrument is a standing army.”
—Thomas Jefferson, 1789