swiss bankCredit Suisse Group AG said on Thursday it would adopt a new plan to remedy “substantial weaknesses” in its financial reporting and control procedures over the past two years. The bank was reviewing its financial reports after a complaint from the U.S. Securities and Exchange Commission (SEC) last week. In its annual report released … Read more
The volatility in short-term U.S. short-term interest rates on Thursday was unlike anything seen in the past 40 years, including during the 2008 financial crisis and the 9/11 attacks. Two-year U.S. Treasury yields fell about 61 basis points (bp, 1 bp = 0.01%) on the day. It was the biggest one-day decline since the early … Read more
![[Column]Revival of the Fed’s reversal scenario due to bank failures – Authors](https://i0.wp.com/assets.bwbx.io/images/users/iqjWHBFdfxIU/iiIYPWN07nFM/v1/1200x800.jpg?fit=%2C&ssl=1 "[Column]Revival of the Fed’s reversal scenario due to bank failures – Authors")
The world financial system is in turmoil. The US Silicon Valley Bank (SVB) has gone bankrupt. Washington Mutual was forced to file for bankruptcy in the wake of the 2008 collapse of Lehman Brothers, making it the largest failure of a U.S. financial institution since then. New York’s Signature Bank was also forced to shut … Read more
Bank runs, increased Fed resolve on inflation, credit risk, and recession risk. Investors have absorbed many shocks over the past few days. It may be impossible to shake them all off at once. The problem is that when one threat subsides, another emerges. The economy is either overheating or at risk of worsening from financial … Read more
The IFAB (International Football Association Board) in charge of making changes to the football regulations, announced a plan to increase effective playing time in all matches. The president of the association, Pierluigi Collina was critical of the time that is lost in current football and took the Champions League as a reference. The highest club … Read more
riceGoldman Sachs Group Inc. Chief Executive David Solomon said the odds of a soft landing for the U.S. economy were “significantly higher” than they were six months ago. “The odds of a soft landing for the U.S. economy in 2023-24 are more likely than I thought six months ago,” Solomon said at a conference hosted … Read more
PLANT PROTECTION PRODUCTS On “winegrowers see viticulture in danger” by Gerold Zink, BZ from February 2nd: At the meeting in Oberbergen, according to the BZ article, there was an outcry from the ranks of the winegrowers. Reason: The draft of an EU regulation on the sustainable use of plant protection products, according to which the … Read more
Several U.S. Federal Reserve officials said on Monday that inflation was too high and would take time to calm down. A paper released today suggested that the US policy rate may need to be raised to 6.5% as January’s Personal Consumption Expenditures (PCE) price index posted better-than-expected gains. “These inflation numbers are still not where … Read more
The personal consumption expenditures (PCE) price index, the Fed’s favorite indicator of inflation, posted better-than-expected gains in January in both the headline index and the core index, which excludes food and energy. PCE also increased significantly, putting more pressure on the Fed to continue raising interest rates. Key Point PCE Composite Price Index rises 0.6% … Read more
Bond futures fell. US long-term interest rates have risen sharply following the announcement of strong economic indicators, and selling has become dominant following the downward trend in futures trading at night. The new 10-year government bond has yet to be traded, but some speculate that the yield may exceed the Bank of Japan’s upper limit … Read more