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: TRENDS ON THE U.S. ECONOMIC FRONT – May 9 2023
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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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GOLD PRICE HOVERS NEAR ALL-TIME HIGH
Last September when gold prices were sinking, The Trends Journal forecast that prices had bottomed. As we go to press, spot gold is selling at $2035 per ounce.
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ECONOMIC UPDATE—MARKET OVERVIEW
It’s a numbers game. And of course like most games, those dealing the cards can rig the game. Oh what wonderful news last week. With more jobs created than The Street anticipated, equity markets soared on the “news” that despite the Bankster Bandits raising interest rates for the 10th time in a row, nonfarm payrolls increased 253,000 for April.
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U.S. BANKING CRISIS: NOT OVER YET?
Regulators’ seizure of First Republic Bank on 1 May and its quick sale to JPMorgan Chase for $10.6 billion marked a new chapter in the U.S. banking crisis, not its end.