One of the most vital pieces of plumbing that powers the global financial system usually runs so smooth that it gets overlooked by market watchers. It’s the “repo market,” comprising the short-term funding that banks and financial counter-parties regularly tap to lend each other trillions. It’s suddenly in the news again, and for all the wrong reasons. The repo market is looking a lot like it did on the precipice of the 2007 housing market…"Why the Repo Market is such a Big Deal—and Why Its $400 Billion Bailout is so Unnerving"
The US Federal Reserve cut benchmark interest rates anew last week. — REUTERS FEDERAL RESERVE policy makers generally sound open to reducing interest rates again, though they’re far from committing to do so. That’s the message gleaned from comments on Friday by US central bankers, including influential Vice Chairman Richard Clarida. “They expressed willingness to move if need be,” said Lou Crandall, chief economist at Wrightson ICAP LLC. “But if the data and the global…"Federal Reserve policy makers open to trimming benchmark rates again"
THE PESO is poised to strengthen further this week as central banks around the world continue to ease monetary policy, with the Bangko Sentral ng Pilipinas (BSP) expected to follow suit in its review this week. The local unit ended at P51.96 per dollar on Friday, strengthening by 22 centavos from its P52.18 close against the greenback the previous day. Week on week, however, the peso was weaker versus its P51.91-per-dollar finish last Sept. 13.…"Peso to strengthen before BSP review"
By Mark T. AmoguisSenior Researcher YIELDS ON government securities (GS) went sideways last week as the trade spat between the United States and China eased ahead of the meeting between the two countries’ trade deputies. GS yields, which move opposite to prices, went up by an average of 4.3 basis points (bp) week-on-week, according to the PHP Bloomberg Valuation Service Reference Rates as of Sept. 20 published on the Philippine Dealing System’s Web site. “GS…"Yields on gov’t securities inch up on US-China, Fed"
What does an Ivy League educated, Taiwanese-American entrepreneur have in common with an Italian-born, millennial college drop-out? Both head political movements whose popularity is built upon the promise of automatically putting extra cash in your bank account every month, ostensibly to boost the purchasing power of the most economically vulnerable families. U.S. presidential candidate Andrew Yang and Luigi Di Maio, head of Italy’s populist Five-Star Movement, are both big believers in the notion of every…"Andrew Yang’s Universal Basic Income Plan Has Already Gotten a Test Run—In Italy"
The whole idea of “the economy” as we know it today is still a relatively new phenomenon. In fact, the modern concept of gross domestic product (GDP) as a way to measure economic growth wasn’t developed until the aftermath of the Great Depression. Simon Kuznets, an economist who won the Nobel Prize for his work in this area, put forth a report to Congress in 1934 using a concept called national income to track economic…"What’s the Difference Between a Recession and a Depression? Here’s What History Tells Us"
It’s almost a rite of passage for stars of stage and screen: Hit the bigtime, open your own winery. Like Angelina Jolie, whose estate in France’s Provence region produces award-winning vintages. Well, New York City comedian Brian Quinn is attempting the blue-collar version of that dream: Brewing beer on Staten Island. The star of long-running TruTV prank show “Impractical Jokers” snapped up the name to Rubsam & Horrmann, a defunct brewery from New York City’s…"No Joke: How Fireman-Turned-Comedian Brian Quinn Tapped into the Brewery Business on Staten Island"
When the bond market showed an inverted yield curve in late August, the stock market sold off 800 points in a day. When President Trump announced new tariffs on China, which retaliated with its own tariffs, the stock market trended downward and talk started about an impending trade-war recession. Meanwhile, in a world where they don’t obsess over breathless news reports minute-by-minute, consumer confidence from the Conference Board in August came in at 131, close…"Is a Recession Coming—or Are We Talking Ourselves into One?"
It’s not just WeWork. Several other investments made by Japanese giant SoftBank in the private realm have experienced a rocky start as public companies in the past year. Silicon Valley giants Uber and Slack are down between 24% to 30% since their initial public offerings earlier this year, while a telecom provider servicing Africa, Bharti Airtel Africa, is down roughly 25%, underperforming major indices during the same time frame, based on data from PitchBook. While…"WeWork Is Just the Latest Miss In SoftBank’s Rocky Year"
Is your daughter enrolled in hockey? Does your son need a math tutor? Do you take public transit? If so, you could benefit from hundreds of dollars of tax credits if Andrew Scheer’s Conservatives form the next government after October’s federal election. This week, Scheer announced his intention to reintroduce three credits, albeit with slightly updated names: the Children’s Fitness Tax Credit, the Children’s Arts and Learning Tax Credit and the Green Public Transit Tax…"Child in hockey, travel on public transit? Boutique tax credits are back on the election radar"