Investors should prepare for months of market readjustments due to the imminent threat of a “Minsky Moment,” said a top economist. The “Minsky moment” is named after economist Hyman Minsky’s description of a precipitous drop in asset prices after a build-up of debt. Ludovic Subran, the chief economist at Allianz, formerly worked at the World Bank…
Investors Should Prepare for Threat of a ‘Minsky Moment,’ Says Economist
May 8, 2023
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Diesel Prices on Cusp of $4 a Barrel as Pump Prices Decline for Third Straight Week
May 8, 2023
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Business & MarketsCompaniesdiesel priceseconomic policieseconomyenergygas pricesinflationInvestmentMarketsoil marketspersonal financerecessionstocksUSUS debt ceilingUS News
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Average U.S. diesel prices have declined, while gas prices declined for the third consecutive week. The national average price of diesel fell by $0.063 over the last week, and now stands at $4.01 per gallon, $1.51 lower from a year ago, according to GasBuddy. The most common U.S. diesel price was $3.99 per gallon, which stood…
Investing: Cutting Through the Noise
May 8, 2023
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Commentary As an investor, it’s very easy to look at the current environment and shake one’s head. There’s a tremendous amount of headwinds. Given the volumes of headlines involving inflation, the debt ceiling, incompetence in Washington, geopolitical risks, China, etc., some investors may just give up and stash away their cash. But that could prove…
Tech Companies Announce Mass Layoffs Amid Economic Woes
May 8, 2023
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The mass layoffs that started late last year have continued into 2023, amid recession fears and economic slowdowns. So far, the number of tech layoffs globally this year has exceeded the total number from a year ago. According to data compiled by online tracker Layoffs.fyi, the running total of tech layoffs to date is 191,416,…
April Jobs Prints at 253,000, but With 149,000 Downward Revisions
May 5, 2023
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New jobs created printed at 253,000 on May 5, according to the Establishment Survey, well above market expectations of 180,000 jobs. Net revisions were down 149,000 jobs from February and March. That makes the average three-month creation of 222,000 jobs. The Household Survey, which is compiled from different data, showed 139,000 people were newly employed. Both…
First Quarter GDP: Weakness
Commentary Economic activity in the first quarter disappointed. Real gross domestic product (GDP) grew at a paltry 1.1 percent annual pace between January and March. That was better news than a zero-to-negative figure that would have indicated recession but a poor showing, nonetheless. The detail behind this overall measure painted an even less attractive picture,…
Recession Fears Drive Down Fuel Demand, Leading to Lower Gas Prices
Uncertainty in the American economy is beginning have an effect on the energy markets and gas prices. Oil prices have declined amid concerns among investors that rising interest rates will push the U.S. economy into a recession. Analysts have expressed concern that a recession will cause oil demand and pump prices in the world’s largest…
Is the Fed Done Messing Up Everything?
May 4, 2023
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Commentary There is a scene in a Fred Astaire and Ginger Rogers film in which the boss of a law firm leaves for vacation and puts his intellectually limited Cousin Egbert in charge. The note adds “don’t do anything.” This is exactly the note that the Fed needs now. Just stop doing things. Its record-breaking…
White House Warns of Millions of Job Losses, ‘Severe Damage’ to Economy If US Defaults on Debt
May 4, 2023
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A continued breach of the U.S. debt ceiling could result in “significant disruptions” to financial markets and “severe damage” to the economy, including more than 8 million job losses, the White House has warned. In a report published on May 3, the White House Council of Economic Advisers stressed that a historic U.S. default on its…
What Does Money Say About Recession?
Commentary Both the Federal Reserve and the European Central Bank should have just raised their policy rates while the recession is coming near to the brink. According to a model prediction from a ten-year less three-month tenor Treasury yield gap, the implied U.S. recession probability by yearend already stands at 65 percent, reaching the second…
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