This is week 46 of job cuts. And get ready for a bad situation to get much worse. The higher the U.S. and EU raise interest rates the deeper economies will decline and the higher the unemployment numbers will rise.
Tag: U.S. economy
PIMCO BRACES FOR “HARDER LANDING”
Pacific Investment Management Co. (Pimco), the largest U.S. active bond fund manager, believes markets are far too optimistic about the U.S. Federal Reserve’s and European Central Bank’s ability to bring inflation to heel without causing a recession.
CHAPTER 11 BANKRUPTCIES JUMP 68 PERCENT THIS YEAR
The number of business and personal Chapter 11 bankruptcies shot up to 2,973 during this year’s first five months, a 68-percent increase from the 1,766 in the same period in 2022, data service Epiq Bankruptcy reported on 3 July.
WAGES ROSE, UNEMPLOYMENT FELL AGAIN IN JUNE
In June, wages were 4.4 percent higher than a year earlier and unemployment edged down to 3.6 percent from 3.7 percent in May.
THE BET: TWO MORE FED RATE HIKES THIS YEAR
All 11 voting members of the U.S. Federal Reserve’s Open Market Committee agreed to defer an interest rate increase in June’s meeting, the session's newly-released minutes show.
ECONOMIC UPDATE — MARKET OVERVIEW
The true fear of an economic calamity on the near horizon was further clarified yesterday as gold once again illustrated its status as the world’s number one safe-haven asset.
SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
Over the next 18 months, commercial real estate values will plunge by as much as 40 percent in Boston, Chicago, Los Angeles, New York City, San Francisco, and Washington DC, according to a new forecast from Capital Economics.
SPOTLIGHT: BIGS GETTING BIGGER
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend... which hit record highs during the COVID war when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies.
TOP TREND 2023, OFFICE BUILDING BUST: OREGON’S LARGEST CITY LOSING POPULATION
Portland, Oregon’s flagship city known for being clean and safe and for its hip vibe, watched its population swell by 23 percent during this century’s first two decades.
INVESTMENT BANKING FEES PLUNGE
With fewer mergers, acquisitions, and initial stock offerings taking place this year, investment banks have seen their revenue from managing such deals fall to $12.8 billion this year through May, down 35 percent compared to the first five months of 2022, the Financial Times said.