US bank JP Morgan Chase’s net interest income (NII) for the October-December 2023 (fourth quarter) set a new high for the seventh consecutive quarter. It also predicted that NII for the full year would increase contrary to analysts’ expectations. Full-year profits for 2023 were the highest in U.S. bank history. According to the company’s financial … Read more
U.S. inflation is likely to slow further this year, ending the year near the Federal Reserve’s 2% target. This is because the effects of the economic turmoil caused by the coronavirus pandemic are expected to further fade, and prices of some goods are expected to decline. The trend of slowing inflation is steadily pushing the … Read more
Amid heated speculation over whether the crypto asset (virtual currency) Bitcoin will be approved as an exchange-traded fund (ETF), former Citigroup executives will begin selling securities backed by Bitcoin. The deal does not require approval from the Securities and Exchange Commission (SEC). Bitcoin rises 160% in 2023 – Expected ‘demand shock’ if ETF approved The … Read more
The U.S. financial authorities are trying to determine the right time to start considering how to step back from shrinking the company’s balance sheet. This suggests that the end may be closer than previously expected. Minutes from last month’s Federal Open Market Committee (FOMC) meeting discussed technical factors that will determine when to slow the … Read more
Tesla announced on the 2nd that it would sell 484,507 units for the October-December 2023 period (fourth quarter), exceeding the average analyst estimate of 483,173 units. However, China’s BYD sold 526,409 units in the quarter, dethroning it as the world’s number one electric vehicle (EV) company. BYD is selling mainly in the Chinese market due … Read more
While Wall Street is buoyed by expectations for a 2024 US interest rate cut, the real world is still far from over the effects of monetary tightening. Over the past two years, the central bank has been aggressively tightening in an effort to curb inflation. That will raise borrowing costs for businesses and consumers, which … Read more
Trading in anticipation of a weaker dollar has become increasingly popular among hedge funds and others after the U.S. Federal Reserve roiled markets by signaling an end to monetary tightening. According to Commodity Futures Trading Commission (CFTC) data compiled by Bloomberg, non-commercial traders – speculative market participants such as hedge funds and asset managers – … Read more
Someday, children will grow up and leave their parents. No, is that really the case? Younger generations are facing tough economic times, and many parents are supporting their children even after they graduate from college. Nearly half of young adults in the United States live at home with their parents, and many receive assistance with … Read more
U.S. Treasuries rose for the fourth straight week in the week that ended on the 22nd, marking their highest streak since March. Investors are becoming increasingly confident that the US Federal Reserve will cut interest rates in the first quarter of next year. The personal consumption expenditure (PCE) core price index, the underlying inflation indicator … Read more
The outlook for U.S. inflation, which had already been steadily improving in recent months, was finally solidified over two days last week, just as the Federal Open Market Committee (FOMC) met. The Consumer Price Index (CPI) and Producer Price Index (PPI) statistics for November, released on the mornings of December 12th and 13th, respectively, reflect … Read more