April 25 (Tuesday)
Latest Morning Briefing Executive Summary: The Economy Is Beige
The stock market’s resilience since October 12 in the face of Fed rate hiking reflects the economy’s resilience. Measures of breadth for industry analysts’ estimates of S&P 500 revenues and earnings have been improving since early this year, and their optimism is supported by surveys of corporate purchasing managers. … The Fed’s latest Beige Book confirms that the banking crisis hasn’t knocked the economy off its rolling-recession path. … Also: We’ve known that QT and the banking crisis exert tightening forces equivalent to some amount of federal funds rate hiking. Now the SF Fed has quantified it, finding that the “effective” federal funds rate is currently over 6%.
(subscribers’ link)
YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on April 24.
Markets
Russia War Triggers Record Wave of East Europe Bond Sales | B
Sliding Diesel Prices Signal Warning for U.S. Economy | W
Global
Here’s How Supply Chains Are Being Reshaped for a New Era of Global Trade | W
US
Can the US economy avoid a recession and defy odds? | Vox
Megatrends: The Longevity Economy | Investing | U.S. News
The debt ceiling is the least of our nation’s fiscal concerns | The Hill
Joe Biden announces 2024 reelection campaign | C
China
China completes landmark national real estate registration system | R
Geopolitics & trade
ByteDance pushes Lemon8 app in the U.S. as TikTok faces a ban | C
Industries & companies
Autos: GM Raises 2023 Profit Outlook as Car Buyers Continue to Splurge | W
Banks: First Republic Lost $100 Billion in Deposits in Banking Panic | W
Banks: How a Star Banker Supercharged a Struggling Financial Stock | W
Real Estate: Commercial Real-Estate Woes Run Deeper Than in Past Downturns | W
Retail: How IKEA Chopped, Hollowed Out and Flattened Its Furniture to Cut Costs | W
Technology
A Satellite Phone That Works Anywhere? The U.S.-China Rivalry Makes That Harder. | W
Beyond markets
Opinion | Your $12 Shirt Was Made in Functional Slavery | N
