London—World stocks slipped on Monday, with weak business activity data and an inconclusive election result in Spain weighing on sentiment in Europe ahead of a central bank-packed week for markets. German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers’…
Weak PMIs, Spain Election Uncertainty Dent Sentiment
July 24, 2023
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The Slide Into Prolonged Economic Stagnation
July 21, 2023
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Commentary Economic data these days is so convoluted and confusing, and the interpretations so filtered through political blather, it becomes difficult to know what the truth is. Another way to put this, it’s hard to square one’s personal experience with the broader claims from the top that all is well. To hear the Biden administration…
Global Shares Subdued After US Tech Earnings Disappoint
July 21, 2023
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LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen. The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent. Following steep post-earnings…
Stocks Shuffle Sideways, China Drips in More Support
July 20, 2023
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LONDON—World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower. There had been pockets of gains in Asia and in commodities markets overnight after China pledged some additional support for its economy…
US Corporate Debt Defaults in 2023 Surpass Last Year’s Total: Moody’s
July 19, 2023
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The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half…
Stocks Climb, Sterling Weighed Down as UK Inflation Slows
July 19, 2023
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LONDON, SYDNEY—Global stocks and government bonds rallied on Wednesday as good news on UK inflation added to a picture of cooling price pressures, although the data slammed the brakes on sterling’s recent winning streak. Headline British consumer price inflation fell to 7.9 percent year-on-year in June, against expectations for 8.2 percent, in the latest downside…
New York Federal Reserve Reports Surge in Credit Application Rejections
July 19, 2023
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The New York Federal Reserve Bank said more Americans had their credit applications rejected last month at levels not seen in years. The New York Fed reported on July 16 added that fewer people across the country also sought to borrow. The report was part of the bank’s monthly Survey of Consumer Expectations, which is taken every four…
American Startups Facing a Tough Situation in 2023, With Little Sign of Relief
July 18, 2023
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It is becoming more apparent that American startups are facing a bad year, and financial relief is far from coming. Higher interest rates, a shaky U.S. economy, and the recent banking crisis have led to a shortage of funds for capital-hungry startups in their early stages, along with less opportunity for those in late-stage development…
Treasury Secretary Yellen Doesn’t Expect a Recession in US
July 18, 2023
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U.S. Treasury Secretary Janet Yellen said during an interview that the U.S. economy would not be hit by a recession. While Ms. Yellen was in attendance at a G-20 summit in Gandhinagar, India, she told Bloomberg on July 17 that the United States was making good progress in bringing inflation down this year. Ms. Yellen…
World Stocks Near 15-month High; China Data Weighs on Markets
July 18, 2023
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LONDON—World shares were steady near their recent 15-month highs and the dollar held close to a one-year low on Tuesday as investors paused to take stock of weak economic data from China and waited for U.S. retail sales data and earnings. Asian stocks fell earlier in the session as markets caught up with growth data…
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