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Stocks, Bond Yields Tumble After Manchin "No" On Build Back Better, Goldman Slashes GDP
02:25am, Monday, 20'th Dec 2021 Zero Hedge
Stocks, Bond Yields Tumble After Manchin "No" On Build Back Better, Goldman Slashes GDP A decisive "no" from Senator Joe Manchin on President Biden''s Build Back Better (BBB) social engineering spendfest has sparked anger from The White House and economic outlook cuts from Wall Street. While BBB enactment had already looked like a close call, in light of Manchin''s comments Goldman has removed the assumption that BBB will become law from its forecast. In light of our changed fiscal assumptions, we are lowering our real GDP forecast for 2022: 2% in Q1 (vs. 3% prior), 3% in Q2 (vs. 3.5% prior), and 2.75% in Q3 (vs. 3% prior). The main points from Goldman''s report are as follows: 1. Senator Joe Manchin (D-W. Va.) released a statement this morning indicating that he would not support President Bidens Build Back Better (BBB) legislation, saying that his concerns have only increased as the pandemic surges on, inflation rises and geopolitical uncertainty increases around the world. His statement also cites electric grid reliability and the increased reliance on foreign supply chains as concerns, in reference to the bills energy and climate provisions.
Committee gives initial approval for industrial bonds
05:10am, Sunday, 19'th Dec 2021 Roswell Daily Record
A beverage distribution companys plan to issue up to $9 million in bonds with the cooperation of the city of Roswell has received initial approval from a Roswell City Council committee.
SSEZ, the special bond between Wuxi and Preah Sihanouk
12:10am, Sunday, 19'th Dec 2021 Khmer Times
An online work conference focusing on the upgrading of Sihanoukville Special Economic Zone (SSEZ) in Preah Sihanouk Province, Cambodia, was held in Wuxi, Jiangsu province of East China, on Dec 17. The post SSEZ, the special bond between Wuxi and Preah Sihanouk appeared first on Khmer Times .
Inter Milan release Christian Eriksen following midfielder''s health scare
03:55am, Saturday, 18'th Dec 2021 Big News Network
Milan [Italy], December 18 (ANI): Inter Milan has confirmed that an agreement has been reached to terminate Christian Eriksen''s contract by mutual consent. "The club and the entire Nerazzurri family wish Christian all the very best for his future. Although Inter and Christian are now parting ways, the bond shall never be broken," the club said in an official statement. "The good times, the goals, the victories, those Scud
Greece fears the European Central Bank
04:13pm, Friday, 17'th Dec 2021 The Manila Times
ONE of the "milestones" in the Greek debt crisis will soon mark its 10th anniversary. On Feb. 12, 2012, Greece already obtained a second debt restructuring since the global financial crisis ravaged the world economy from 2007 to 2009. With the second debt restructuring, almost 10 years ago, the agreement then was that the government debt, in percent of gross domestic product (GDP), should be reduced from 160 percent in 2012 to 120.50 percent in 2020. The debt ratio continued with undiminished strength to approximately 180 percent of GDP, until the next crisis suddenly emerged. The European Central Bank (ECB) has several purchase programs for member states'' government bonds. However, one purchase program, the Pandemic Emergency Purchase Program (PEPP), expires at the end of March next year. This purchase program allows the ECB to buy all types of government bonds issued by eurozone member states. The second Asset Purchase Program requires that the bonds have an investment grade status and, therefore, cannot be high yield/junk bonds.
Some tech stocks can resist a rising rate environment
12:42pm, Friday, 17'th Dec 2021 Finance Brokerage
Some tech stocks can resist a rising rate environment Two traders say that some tech stocks can still succeed in rising rate conditions. On Wednesday, the Fed said it plans to accelerate the tapering of its bond purchases to mitigate higher inflation, indicating as many as three interest rate hikes in the following year. On [] The post Some tech stocks can resist a rising rate environment appeared first on FinanceBrokerage .
Lagarde: ECB to continue supporting Greece after expiration of PEPP bond program
04:10pm, Thursday, 16'th Dec 2021 Marketall.eu
The European Central Bank said that it plans to reinvest proceeds from its PEPP bond program in Greek government bonds, if necessary, ECB head Christine Lagarde said on Thursday. That''s a really strong signal, and it''s rare that we have a country-specific clause. That particular clause was very strongly supported in the Governing Council, Lagarde told a news conference. In a statement, ECB also said In particular, in the event of renewed market fragmentation related to the pandemic, PEPP reinvestments can be adjusted flexibly across time, asset classes and jurisdictions at any time. This could include purchasing bonds issued by the Hellenic Republic over and above rollovers of redemptions in order to avoid an interruption of purchases in that jurisdiction, which could impair the transmission of monetary policy to the Greek economy while it is still recovering from the fallout of the pandemic, Net purchases under the PEPP could also be resumed, if necessary, to counter negative shocks related to the pandemic, added.
Top 5 Fixed Income ETFs of 2021 by Flows
01:59pm, Thursday, 16'th Dec 2021
Despite record inflation clocking in at the end of the year, the bond space has managed to perform fairly strongly in 2021 and has seen enormous flows into many of the top ETFs within the space. The f
European Central Bank cuts stimulus further, but promises copious support for 2022
01:02pm, Thursday, 16'th Dec 2021 The Globe and Mail
The ECB said it would continue to cut bond buys under its 1.85-trillion Pandemic Emergency Purchase Programme next quarter and will wind down the scheme as expected next March
Turning off the tap: The Fed accelerates its big pivot to fight inflation
12:56am, Thursday, 16'th Dec 2021 Brisbane Times
The US central bank has abruptly sped up the tapering of its bond purchases and now sees an earlier and faster rise in interest rates as it responds to inflation rates not seen in decades.
Here come the rate hikes: Fed sees 3 in 2022
09:57pm, Wednesday, 15'th Dec 2021 Boston Herald
WASHINGTON The Federal Reserve will quicken the pace at which its pulling back its support for the economy as inflation surges, and it expects to raise interest rates three times next year. In a sharp policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it []
Wall Street buoyed by Federal Reserve plans for 2022
09:55pm, Wednesday, 15'th Dec 2021 Big News Network
NEW YORK, New York - The U.S. Federal Reserve managed to lift American stock markets on Wednesday, and they did it by signaling there will be three interest rate rises next year. The Fed also announced they would begin tapering bond purchases in March. U.S. stocks were trading in the red prior to the announcement. The news caused a sharp reversal with all the indices making g substantial gains. "Wh
Fed clears path for multiple rate hikes for next year
08:29pm, Wednesday, 15'th Dec 2021 FXNews24
Now, the Fed plans to cease its bond buys entirely by March, rather than its earlier target of June to give itself room to begin raising interest rates as early as the second quarter of next year. The central bank will be watching data over the next few months to determine how aggressively it might [] The post Fed clears path for multiple rate hikes for next year appeared first on UK Stocks, Forex, Commodities, Crypto, Live Market News- Daily Forex News .
Judge wants forgiveness and understanding after shes caught on video calling suspect N-word
06:41pm, Wednesday, 15'th Dec 2021 AlterNet
Last weekend a Lafayette City Court judge and her family were the victims of a car burglary at their home. Police were called and the suspect was arrested. But, of course, that wasnt the end of it. Days later, Judge Michelle Odinet and her four children were captured on cellphone video watching security footage of the moment the suspected burglar was apprehended. And oh boy, did that family enjoy watching it. They whooped and hollered as they joyfully commented on the home surveillance video, calling the suspect, a Black man, a roach and using the N-word repeatedly. We have a n---. Its a n-----, like a roach, a females voice can be heard saying while laughing. Now Odinet is asking for forgiveness and understanding. My children and I were the victim [sic] of an armed burglary at our home. The police were called and the assailant was arrested. The incident shook me to my core and my mental state was fragile, Odinet said in a statement Monday, The Acadiana Advocate reports. According to the Daily Beast , the Lafayette Police Department confirmed to local media that an attempted burglary of a vehicle took place at Odinets home at around 2 a.m.
US Federal Reserve expected to speed up end of pandemic support
05:27pm, Wednesday, 15'th Dec 2021 The Guardian
Central bank likely to double rate at which it cuts spending on government bonds, in shift that could herald interest rate rises The US Federal Reserve is expected to accelerate an end to the central bank’s pandemic-era support of the US economy on Wednesday night, in a major shift that could herald a series of interest rate rises next year. The expected measures are a signal that US central bankers no longer view rising inflation as a “transitory” nuisance caused by supply chain problems meeting pent-up consumer demand, but an issue that now requires firm management to avert lasting damage to the US economy. Continue reading…
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