Deutsche Bank’s chief international economist has raised concerns that the risk of inflation is escalating, representing a significant threat to the investment landscape. While some analysts hold differing views, the Treasury market appears to be factoring in this risk.
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South Korea’s president states that North Korea is pursuing “complete denuclearization”: Reuters
President Trump emphasizes the dangerous aspects of a potential US-North Korea meeting: CBS
New York’s attorney general is investigating cryptocurrency exchanges: CNBC
The Fed’s Beige Book expresses anxiety about potential trade tariffs: MarketWatch
Oil prices surge to their highest level since late 2014: Reuters
The policy-sensitive 2-year Treasury yield has risen to a new 10-year high at 2.42%
This year has been marked by volatility in the stock market, but two prominent trends have emerged within widely monitored segments of the market. Firstly, small-cap stocks are experiencing a strong performance compared to large caps. On the other hand, value stocks continue to lag behind growth stocks, as evidenced by year-to-date performance figures from various exchange-traded funds.
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Global concerns rise as drug-resistant typhoid becomes a significant epidemic: Ars Technica
South Korea announces discussions for a peace deal with North Korea: Reuters
CIA chief meets North Korea’s Kim Jong-un: NY Times
China’s President Xi plans a visit to North Korea, according to a Chinese official: CNN
Republicans push for a second tax vote before the midterm elections: Reuters
US housing starts increased by 10.9% in March compared to the previous year: MarketWatch
US industrial production rose more than anticipated in March: RTT
Analyst indicates that the VIX index suggests a continued rebound for US stocks: MarketWatch
Bank of America notes that global equity allocations by money managers have reached an 18-month low in April: P&I
More than half of next year’s nearly $1 trillion federal deficit is attributable to new legislation: CRFB
On Monday, April 16, the difference between the 10-year and 2-year Treasury rates shrank to 44 basis points—its lowest level since late 2007. Historically, such a narrow spread has indicated that the US economy was nearing a recession. However, current economic data suggests a healthy trend, raising questions about whether this indicator remains a reliable warning of impending macroeconomic weakness.
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President Trump has blocked sanctions against Russia as announced by his UN ambassador: Politico
Japan’s Abe and Trump are set to discuss North Korea on Tuesday: Reuters
US retail sales experienced a significant uptick in March after three consecutive months of decline: MarketWatch
Growth in the New York Federal Reserve’s Manufacturing Index has slowed in April, with a sharp drop in the six-month outlook: NY Fed
China’s holdings of US Treasuries saw an increase in February: Reuters
China’s economy expanded by 6.8% year-over-year in Q1, matching growth from Q4: RTT
China plans to eliminate foreign ownership caps on car companies by 2022: Reuters
US business inventories increased by 0.6% in February, aligning with forecasts: RTT
Sentiment among home builders in the US remains strong but has slightly declined in April: HousingWire
The Japanese government continues to maintain a moderate growth outlook for its economy: MNI
The yield curve between the 10-year and 2-year Treasuries is continuing to flatten, reducing to 44 basis points:
Last week, most major asset classes achieved positive gains, with broadly defined commodities leading the performance, as indicated by a range of exchange-traded products.
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Russia’s President Putin warns that further Western strikes on Syria could lead to global “chaos”: Reuters
The US ambassador to the UN indicates that new sanctions on Russia will be announced shortly: CNN
Missile strikes on Syria could bolster President Trump’s position in North Korean talks: CNBC
Former FBI Director Comey asserts that Trump is unfit to lead the nation: The Hill
Is a conflict brewing between Israel and Iran? NY Times
China and Japan concur that a trade war would negatively impact the global economy: Reuters
A study discovers that asset managers are still “very dependent” on consultants: Inst Inv
US Consumer Sentiment Index dropped to a three-month low in April: MarketWatch
Job openings in the US decreased in February but remain close to record highs: Bloomberg
By Robert Kuttner
Summary via publisher (W.W. Norton)
In this thought-provoking work, a leading social critic discusses the peak of capitalism and the route to achieving that prosperity once more. Despite increased productivity over past decades, worker wages have stagnated. Social safety nets have been diminished while corporations post record profits. The resulting downward mobility has led to political unrest. Kuttner’s thesis is that trade, immigration, or technological changes are not to blame. Instead, global capitalism’s influence, through restricting workers’ rights and allowing corporations to evade taxes, undermines the democratic foundations necessary for a healthy society.
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Are we on the verge of a death cross? According to David Rosenberg, chief economist and strategist at Gluskin Sheff, we might be. He cited multiple reasons for the recent resurgence in market volatility, noting that the S&P 500’s 50-day moving average might soon dip below its 200-day average—a so-called death cross, a sign that many technical analysts view as indicative of a bearish trend in the market.
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In this revised piece, the readings on economic trends, geopolitical events, and financial market analyses are presented with improved clarity and coherence. Each section provides insights into complex issues while preserving the original structure and references, making it easier for readers to grasp the nuances of the current economic landscape.
