Commentary March 28 hearings on bank regulation exposed the shortfall of federal regulation. The hearings came in the wake of the Silicon Valley Bank (SVB) failure and the stresses on other banks, like Signature and Republic. To put it frankly, the hearings exposed our regulators appear to be virtually useless. Among things we learned last week:…
America’s Banking Regulators Have Failed
Secretary Yellen Worried About Liquidity in the Treasury Market
U.S. Secretary of the Treasury Janet Yellen admitted to being concerned about liquidity in the Treasury debt market during an event in Washington on Oct. 12. The potential loss of liquidity is a worrying situation, Yellen said in a question-and-answer session following a speech at the event, according to Bloomberg. She pointed out that even…
Inflation Plateaus, But Does Not Recede
NEW YORK (May 12)—April Consumer Price Index (CPI) inflation printed at an 8.3 percent, year-on-year, yesterday morning, down from 8.5 percent in March, but 2/100ths (or “20 bps”) higher than the market consensus estimate of 8.1 percent. Core inflation, which includes all items, less food and energy, came in at 6.2 percent, down from 6.5 percent…
Chinese Property Developers Funding Plummets Amid Deepening Liquidity Crunch
China’s developers continue to face a liquidity crunch, with fundraising across all channels down 70 percent year over year in January, reported state-run media China News network. Capital raised by the property industry through selling domestic and international bonds, trust loans, and asset-backed securities totaled 79 billion yuan ($12.4 billion) in January, as uneasy sentiment extended into…
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