Economy

Recent data has sparked hopes of an economic soft landing, leading to a surge in U.S. stocks. The S&P 500 has bounced back by over 6% after a significant drop earlier this month, signaling relief from recession concerns. Additionally, the Cboe Volatility Index, known as Wall Street’s “fear gauge,” has rapidly retreated from last week’s

The recent surge in regulatory scrutiny surrounding wealth managers’ cash sweep programs has the potential to negatively impact their credit ratings, according to Moody’s. This poses a significant threat to the high-margin business of firms such as Morgan Stanley and Wells Fargo. A ratings downgrade could result in increased costs for wealth managers, particularly at

Alan Taylor, a renowned economics professor specializing in international economics and financial crises, has been selected to join the Bank of England’s Monetary Policy Committee (MPC), as announced by Britain’s finance ministry. Taylor is currently a professor at Columbia University in New York, with a distinguished career that includes serving as a senior advisor at

In the midst of economic turmoil and recession fears, U.S. stocks managed to end the week on a high note. The S&P 500 and the Nasdaq rebounded, posting their biggest weekly percentage gains of the year. This rally comes in the wake of concerns over a potential downturn in the economy, which have now been

The Commonwealth Bank of Australia, the largest lender in the country, recently reported a cash profit of A$9.84 billion for the year ended June 30. This figure was slightly higher than the A$9.68 billion estimate by LSEG, but it was still a 3% decrease from the record profit of A$10.16 billion from the previous year.

Currency markets were uncertain on Tuesday as investors awaited the impact of U.S. economic data on the possibility of significant rate cuts. The dollar remained stagnant against the yen, hovering around 147.17 yen after briefly reaching a one-week high of 148.23. Meanwhile, the euro was steady at $1.0931, inching closer to resistance levels at $1.0944

Republican U.S. vice presidential candidate JD Vance expressed his support for Donald Trump’s assertion that presidents should have a say in Federal Reserve Board policy-making. According to Vance, Trump believes that the political leadership in the United States should play a more significant role in determining the country’s monetary policy. While past administrations have upheld

Despite recent turbulence in China’s bond market, there are still die-hard investors who remain confident in the strength of the bull market for government bonds. These investors point to factors such as China’s uncertain economic outlook, deflationary pressures, and a general lack of appetite for riskier assets as reasons to maintain a positive stance on

In light of recent allegations made by US-based shortseller Hindenburg Research against Madhabi Puri Buch, the head of Securities and Exchange Board of India (SEBI), it is crucial for investors to remain calm and exercise due diligence before reacting. The regulator has urged investors to not jump to conclusions based on reports and to wait

Kamala Harris, the U.S. Vice President, made a statement in Nevada supporting the elimination of taxes on tips. This move is seen as an effort to appeal to service workers in the state and gain their support. Harris, along with her Democratic running mate Tim Walz, wrapped up a tour of battleground states, making promises

The recent announcement by the State Department regarding the provision of $3.5 billion to Israel for U.S. weapons and military equipment raises questions about the necessity of such financial aid. The timing of this release, following the appropriation by the U.S. Congress during Israel’s involvement in the war in Gaza, is suspicious and must be

In a recent legal battle, a federal appeals court extended an order blocking President Joe Biden’s administration from implementing a student debt relief plan aimed at reducing monthly payments for borrowers and expediting loan forgiveness for some. This decision came in response to a request by seven Republican-led states to halt the implementation of the