The U.S. banking sector saw stock prices sink on 7 August after Fitch Ratings lowered its credit ratings on 10 small and midsize lenders and put 17 other institutions under review.
Tag: U.S. Economy
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FITCH DOWNGRADE AN OMINOUS SIGNAL
When Fitch Ratings downgraded the U.S.’s credit rating from AAA to AA+ on 1 August, analysts were quick to dismiss it as meaningless to investors, citing the stock market’s lack of reaction.
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INVESTORS EXPECT RECESSION, SEE CURRENT MARKET STRENGTH AS TEMPORARY
Two-thirds of respondents in the latest Market Pulse survey of 410 major investors expect the U.S. economy to slip into a recession before 2025.
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ECONOMIC UPDATE –MARKET OVERVIEW
It’s summertime, and the living is easy.
Much of the world, particularly those in the northern hemisphere, is in a summer state of mind.
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HOME INSURANCE COSTS MORE BUT BUYS LESS COVERAGE
After losing money in five of the last six years, home insurers are raising premiums but offering less coverage for the price as they try to rebuild their profits, The Wall Street Journal reported.
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REMOTE WORK HAS DAMAGED U.S. PRODUCTIVITY, STUDIES SHOW
Employees working remotely are no more productive than they were when spending five days a week in the office and workers spending all their time at home are less productive than before the COVID War, according to several studies, The Wall Street Journal reported.
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SHARE BUYBACKS ARE OUT, CORPORATE REINVESTMENT IS IN
While the economic outlook was cloudy, corporations plowed their cash into buying their own shares to maintain share prices.
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WORRY SIGN: MAJOR INVESTORS HOLDING ON TO CASH
Asset managers are having a hard time persuading endowments, foundations, pension funds, and other large investors to stop sitting on their cash, according to the Financial Times.
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AMERICANS SINKING INTO DEBT
Americans have charged a record $1 trillion to credit cards and other forms of revolving debt, the Federal Reserve Bank of St. Louis announced last week.
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DEATH OF THE DOLLAR: FITCH’S DOWNGRADE THE BEGINNING OF THE END
After holding a AAA credit rating for decades—the highest possible—the U.S. saw its rating downgraded by Fitch Ratings to AA+, prompting a series of critical comments from government officials and other notable executives.