Markets

US stocks fell Thursday as central bank officials dampened hopes for a so-called Fed pivot.  Fed regional presidents James Bullard and Esther George see more rate hikes in store to cool inflation.  Earnings from Macy’s and Kohl’s as well as economic data were also in focus during the session.  Loading Something is loading. Thanks for… Continue reading US stocks slump as Fed officials see more rate hikes in the pipeline to tame inflation

Home prices could tumble 20% in some of the hottest US markets, top investor Peter Boockvar said. He cited the surge in prices during the pandemic, and soaring mortgage rates pricing out buyers. The Bleakley Advisory boss warned a housing slump could hit consumer spending and the wider economy. Loading Something is loading. Thanks for… Continue reading House prices might plunge 20% in the hottest US markets – and the slump could hammer the wider economy, top investor says

Dysfunctioning US bond markets run the risk of undermining central bank monetary policy, according to John Williams.  The New York Federal Reserve president told a conference the financial system must be strengthened.  “If the Treasury market isn’t functioning well, it can impede the transmission of monetary policy to the economy,” he said.  Loading Something is… Continue reading Treasury market liquidity crunch could derail the Federal Reserve’s policy, New York Fed chief says

Cathie Wood’s ARK Invest just bought up shares of Grayscale Bitcoin Trust for the first time in nearly a year and a half. The ARK Next Generation Internet ETF bought 315,000 shares of the fund on Monday.  The bitcoin fund is trading at a steep discount and has sharply underperformed the crypto this year.  Loading… Continue reading Cathie Wood just bought shares in Grayscale’s bitcoin trust for the first time in 16 months at a deep discount

A key US mortgage rate fell below 7%, marking the largest weekly fall since July, the Mortgage Bankers Association said Wednesday.  The average interest rate on a 30-year fixed-rate mortgage was 6.9%, down from 7.14%.  The rate has slipped as Treasury yields pull back on signs of easing inflation.  Loading Something is loading. Thanks for… Continue reading Mortgage rates fall below 7% in the largest weekly drop since July as inflationary pressures ease

The decline in home prices will accelerate even as sales are headed for a bottom early next year, according to Pantheon Macroeconomics. The assessment came as the NAHB index fell for the 11th straight month to hit the lowest since April 2020. “The good news for homebuilders is that a floor is coming,” Pantheon economist… Continue reading Home price declines will accelerate even as sales bottom out early next year, economist says

Citadel founder Ken Griffin speaks at the CNBC Delivering Alpha conference in New York on September 28, 2022.CNBC The US economy would immediately enter a great depression if China invades Taiwan, according to Citadel founder Ken Griffin.Griffin’s warning is predicated on the US potentially losing access to Taiwan’s semiconductor industry.”We are playing with fire here,… Continue reading Citadel’s Ken Griffin warns the US economy will enter an immediate ‘great depression’ if China invades Taiwan and cuts off access to its semiconductor industry

BlockFi is preparing for possible bankruptcy amid “significant exposure” to failed exchange FTX, WSJ reported.  BlockFi last week paused withdrawals and limited activity on the exchange, and is preparing for layoffs, per the report.  FTX filed for bankruptcy last Friday after failing to line up a rescue amid a liquidity crunch.  Loading Something is loading.… Continue reading BlockFi is reportedly preparing for layoffs and may file for bankruptcy as FTX’s implosion weighs on the the crypto lender