Last week, Banxico’s rate-setting committee voted unanimously to hold the central bank’s key interest rate at 11.25 percent for its fourth consecutive meeting, matching the unanimous expectation of 23 economists Bloomberg surveyed.
Tag: Economy
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TOP TREND 2023, GOING GREEN, LIKE IT OR NOT: CHINA’S LARGEST OIL COMPANY SAYS GASOLINE DEMAND IS PERMANENTLY DECLINING
Sinopac, China’s largest oil company, has calculated that the world’s gasoline demand has peaked as electric vehicles (EVs) have aggressively asserted their place in the global vehicle market.
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HAS THE POST-COVID TRAVEL BOOM PEAKED?
JetBlue Airways reported a downturn in U.S. domestic travel in August, while low-fare Spirit Airlines has issued a profit warning and has resorted to “deep discounting” to spur ticket sales.
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BIGS NOT GETTING BIGGER: PRIVATE EQUITY CAPITAL DRIES UP
Mergers and acquisitions worldwide slowed to a value of $2 trillion in the first nine months of this year, the least since 2013 and a 28-percent decline from the same period in 2022, according to data from the London Stock Exchange Group.
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EUROZONE INFLATION SLOWEST IN TWO YEARS
In September, inflation among the 20-nation Eurozone fell to an annual rate of 4.3 percent, its slowest in two years, and beat analysts’ forecasts of 4.5 percent.
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EUROPE’S BOND MARKET TANKS
Investors in European bonds sold off last week on fears that the European Central Bank will hold rates higher for longer and because Italy’s budget deficit came in larger than expected.
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JPMORGAN CHASE SETTLES EPSTEIN SUIT FOR $75 MILLION
JPMorgan Chase, the largest U.S. bank by assets, agreed to pay $75 million to the government of the U.S. Virgin Islands. The agreement is part of a string of suits by people and organizations claiming to have been victims, in one way or another, of the jet-setting sex trafficker Jeffrey Epstein.
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THE SYSTEM IS ON THE CUSP OF LOCKING UP, AGAIN!
If you were to ask the average person “what happened during the 2007-2008 Stock Market Crash/Financial crisis?” What caused it? You may hear answers like; “it was brought on by banks who were writing subprime mortgages, giving mortgage loans to anyone with a heartbeat-regardless of if they had a job, or even the ability to make mortgage payments.”
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SPOTLIGHT: “BIGS” GETTING BIGGER
As we have noted since the Central Banksters started to rapidly raise interest rates, the decade’s long merger and acquisition spree is over. However, the “Bigs” will still get bigger, as they buy out overleveraged companies that can’t afford to borrow at high rates to refinance while, at the same time, recessionary pressures erode their profitability.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s economic crisis has emboldened reformers who argue for structural change to the country’s economy, challenging other officials who contend that stimulus spending will put China’s productivity back on track, Reuters reported.