The Baby and the Bathwater: This week, a wave of caution swept through global markets as investors liquidated a range of major asset classes, marking the close on October 30.
Speculating on the end of the long-term decline in interest rates has always been challenging—and frequently incorrect. Given its historical consistency, observers of bond yields should approach the idea that a 40-year trend is concluding with great caution.
The US economy experienced a remarkable rebound in Q3, with GDP soaring at a record pace: CNBC
However, analysts express concern that the US economic recovery may be losing momentum: BBC
Early voting figures have surged to an unprecedented 80 million: Reuters
The US recorded over 89,000 new coronavirus cases, marking another grim milestone: BBG
Rising COVID-19 infections and fatalities across Europe serve as a stark warning for the US: WSJ
Unemployed Americans may face significant financial defaults without additional federal assistance: Politico
Amazon anticipates $4 billion in expenses related to COVID-19: CNBC
Pending home sales in the US declined in September after four consecutive months of increases: Reuters
Technology giants continue to report impressive profit margins: NYT
Jobless claims have decreased, reaching their lowest levels since the onset of the pandemic: CNBC
When sensational headlines proclaim impending doom for the stock market, my instinct is to analyze the performance trend using R. Following a sharp drop in the S&P 500, which extends the recent decline and leaves the index at a month-long low, a reality check is crucial to prevent behavioral biases from escalating.
The Supreme Court has upheld ballot extension deadlines in Pennsylvania and North Carolina: NPR
A tragic terrorism attack in France has left three dead: CNBC
Healthcare systems in Europe are raising alarms as COVID-19 cases surge: AP
CEOs from major tech companies discussed free speech issues during a Senate hearing: WSJ
States face the most significant fiscal challenges since the Great Depression: WSJ
A record surge is anticipated in today’s Q3 GDP report for the US: Reuters
The potential “nightmare scenario” of a prolonged contested election in the US looms large: PS
The US trade deficit in goods slightly narrowed in September after a record high: MW
The US stock market has experienced its largest drop in four months: NYT
Amidst the decline, the VIX volatility index has surged to a four-month high: BBG
Coronavirus Resurgence: There has been a growing temptation to believe that the worst is behind us. However, credible health experts continue to caution against such optimism. Markets are reassessing risks and adjusting asset prices in response.
Since the global market collapse during the coronavirus crisis in March, all major equity regions have seen a sharp recovery. Leading this rebound are shares from Africa, followed closely by China and US stocks, as indicated by a set of publicly traded funds up to October 27.
COVID-19 hospitalizations in the US have surged: Reuters
Virus cases are spiking in critical swing states likely to determine the election: CNBC
Civil unrest in Philadelphia continues following the police shooting of a black man: BBC
Pre-election voting has surpassed 50% of ballots cast in the 2016 election: CNN
Germany is considering a month-long closure of bars and restaurants: BBG
The struggling rental market could potentially lead to a housing crisis: WSJ
The US Consumer Confidence Index dipped in October: MW
Consumer confidence has significantly fallen in key swing states ahead of the election: Reuters
Annual home price increases accelerated to a 5.7% gain in August: S&P
Manufacturing activity in the Mid-Atlantic region showed signs of strength in October: MSTAR
US durable goods orders rose by 1.9% in September, marking the fifth consecutive month of gains: MW
According to the US Bureau of Economic Analysis, a strong rebound in the economy is expected to be reflected in the initial GDP estimate for the third quarter, scheduled for release on Thursday (October 29). Economists and nowcasting models predict a dramatic, potentially record-setting increase in gross domestic product (GDP). Although there is uncertainty surrounding the outlook for Q4, confidence remains high that this week’s GDP report will reveal a substantial recovery following the steep decline in Q2.
The Senate has confirmed Amy Coney Barrett as a Supreme Court Justice: CNBC
The Supreme Court has ruled that mail-in ballots in Wisconsin will only be counted if received by November 3: CNN
Russian airstrikes in Syria have resulted in the deaths of over 50 Turkish-backed fighters: BBC
China’s Ant Group is expected to achieve a record $34 billion in its IPO: WSJ
Pandemic conditions have caused Eurozone banks to tighten credit: Reuters
New home sales in the US dipped slightly in September but remain robust: MW
The Dallas Fed’s Manufacturing Index shows expansion for manufacturing for the fifth consecutive month in October: DF
The Chicago Fed National Activity Index indicates that US growth continues to slow in September: AP
