Government bond yields are spiking in the US, Europe, and the UK due to investors realizing that central bank interest rates may remain high for an extended period, and concerns over inflation and supply shortages caused by the retirement of baby boomers.
Mortgage rates have increased in the past week, and while experts believe rates are unlikely to reach record lows seen during the pandemic, there is a possibility of rates decreasing before the end of the year if inflation continues to moderate. It is advised for homebuyers to focus on improving their credit scores and saving for a down payment to increase their chances of qualifying for the best rate.
President Joe Biden is showing support for United Auto Workers by joining them on the picket line, a move that is politically beneficial but may not be favorable to the Federal Reserve.
The United States and China have agreed to create economic and financial working groups to address economic disagreements and promote communication between the two countries.
India and Canada have expelled senior diplomats and bilateral ties have worsened after the killing of Khalistani terrorist Hardeep Singh Nijjar, leading Canada to issue a travel advisory for India warning of terrorism and civil unrest.
Latinxs have a combined gross domestic product (GDP) of $2.7 trillion, making it the fifth largest economy in the world, according to a report by the Latino Donor Collaborative.
Insurers in the US are struggling as climate change increases the likelihood of disaster, undermining their ability to profit from betting against such events.
German inflation slowed in September to the lowest level since the outbreak of the Ukraine war, providing hope for the struggling economy and potentially influencing the European Central Bank's interest rate policy.
The caretaker government of Pakistan is set to begin talks with the International Monetary Fund (IMF) next month to review the $3 billion Standby Arrangement, with the second quarterly review due in October and a disbursement of $710 million expected in December. The IMF has emphasized the importance of full and timely implementation of the program for its success in light of the country's economic challenges. The finance minister has also highlighted the need for a consensus among politicians to address economic issues.
Wall Street indexes rose as investors evaluated economic data, awaited news on a U.S. funding bill, and monitored inflation concerns, with tech stocks leading the gains.
The number of Americans filing for unemployment benefits increased slightly to 204,000, but overall job losses remain low, indicating a strong economy and no signs of rising unemployment.
Amid an annual inflation rate above 100%, the portion of Argentines living in poverty has reached 40.1%, leading to increased demand for shelters and assistance.
Restrictions on food export, combined with climate change and conflicts, are leading to shortages of essential foods and soaring prices, leaving many people struggling to afford basic meals.
U.S. stocks were mixed with the Dow Jones slipping 0.2%, the S&P 500 unchanged, and the Nasdaq Composite adding 0.22%, while oil prices surged to their highest in over a year and shares of China Evergrande Group were suspended after reporting significant losses, all raising concerns and making it difficult for stocks to gain confidence to climb.
A record number of Chinese are choosing to travel domestically during the Golden Week holiday, potentially boosting domestic consumption but disappointing travel agents who were hoping for a rebound in overseas tourism since the end of the pandemic.
Billionaire investor Ray Dalio is closely monitoring the "risky" U.S. fiscal situation, predicting a future debt crisis and potential slowdown in economic growth.
U.S. Treasury yields remained stable as investors monitored economic reports and expressed concerns about the future of monetary policy and high interest rates.
Chinese hackers stole tens of thousands of emails from the US State Department, with most of the victims working on East Asia and the Pacific, according to a US Senate staffer attending a briefing by State Department officials. The hack has strained US-China relations and raised concerns about the government's reliance on a single IT services provider, Microsoft.
Economist David Rosenberg believes a recession is highly likely in the U.S. within the next six months, citing economic headwinds such as rising oil prices and student loan payments, and highlighting the impact of fiscal stimulus fading and consumers slowing their spending.
Florida has surpassed New York as the second most valuable housing market in the United States, with its residential property values increasing by $160 billion in the past year due to increased demand from residents escaping high taxes, rising crime rates, and COVID-19 restrictions.
Australian consumer inflation grew as expected in August, driven by surging energy and housing costs, raising speculation that the Reserve Bank may need to further increase interest rates.
A recent study reveals that 80 percent of Americans now have less extra cash in reserve than before the pandemic, as bank deposits and liquid assets have dipped below their March 2020 levels after adjusting for inflation.
The U.S. economy grew at a solid pace of 2.1% in the second quarter, but consumer spending was weaker than previously reported, although recent evidence suggests a rebound in consumer spending and GDP is expected to rise in the third quarter.
JPMorgan Chase CEO Jamie Dimon warns that interest rates could rise significantly from their current levels due to elevated inflation and slow growth, potentially reaching 7%, and urges businesses to prepare for this stress in the system.
India's External Affairs Minister, Jaishankar, criticized Canada at the UN General Assembly, accusing them of responding to terrorism based on political convenience, in the midst of the two countries' dispute over the killing of Khalistani terrorist Hardeep Singh Nijjar.
Wall Street is concerned about the potential stress on the horizon as the Federal Reserve plans to keep interest rates higher for longer, and JPMorgan CEO Jamie Dimon warns that the world is unprepared for this scenario.
Chinese President Xi Jinping's visit to Yiwu, a major manufacturing hub, is seen as a symbolic gesture to boost economic confidence and promote development, as China's economy slows down and Beijing aims to support the private sector.
The U.S. Treasury Department has established two new working groups to engage in regular direct meetings with China for discussions on economic and financial policy matters, signaling improved communication between the two countries.
Conservative New York Times columnist David Brooks complains about the price of food at Newark airport, but his followers and investigative reporters quickly debunk his claim, highlighting the high cost of his alcoholic drinks and ridiculing his complaint.
The Bank of England has decided to halt interest rate rises due to unexpected inflation slowdown, while housing markets in major global economies, including the US, Germany, and the UK, are showing signs of slowing down. Additionally, there have been developments in various countries' economic outlooks and key interest rates.
Australia's government has reported a budget surplus of $14.2 billion for the last fiscal year, the first time the nation's books have been balanced in 15 years, due to low unemployment and high commodity prices.
The Bank of Japan has decided to maintain ultra-low interest rates and continue supporting the economy until inflation reaches its target, indicating a slow withdrawal from its stimulus program and causing the yen to fall.
Singapore has surpassed Hong Kong to become the world's freest economy, as revealed by the Economic Freedom Index, with Hong Kong's ranking declining due to new regulatory barriers and limits on foreign labor.
The Federal Reserve has kept interest rates steady, but economists are skeptical that a soft landing for the economy is guaranteed due to high inflation and continued economic growth.
Chinese city and provincial governments are struggling with a financial crisis caused by a mountain of debt, leading to desperate measures such as fining restaurants and truck drivers, as they grapple with the economic impact of the COVID-19 pandemic and real estate slump.
The Asian Development Bank (ADB) has lowered its growth forecast for developing Asia due to weakness in China's property sector and risks associated with El Niño, but still expects resilient growth driven by domestic consumption and investment.
China maintains benchmark lending rates unchanged as signs of economic stabilization and a weakening yuan lessen the need for immediate monetary easing.
Moody's warns that a US government shutdown would have a negative impact on the country's credit rating, potentially leading to a downgrade, as dysfunction in Washington DC hampers fiscal policymaking and exacerbates the country's fiscal deficits and debt affordability.
London's office market is experiencing a "rental recession," with the highest level of vacant office space in three decades, as remote work continues to impact utilization and prompt rent decreases.
The U.S. has a national debt of $33 trillion, raising concerns as the possibility of a government shutdown looms and lawmakers debate spending for 2024.
The U.S. Latino economy is thriving, with recent reports revealing that Latino GDP has reached $3.2 trillion, making it the fifth-largest global economy, and understanding and marketing to this fast-growing demographic will be key for businesses to find success.
Mortgage applications and housing demand have dropped as a result of increased mortgage rates, which are now at their highest levels in over 20 years, leading to limited inventory and fewer options for buyers.
Italy's government, led by right-wing Prime Minister Giorgia Meloni, is facing challenges in balancing its budget and has significantly increased planned net spending, which could test investor confidence and raise concerns among European policymakers as it exceeds EU limits during a period of economic slowdown. Italy now forecasts a higher deficit compared to previous expectations, and it is struggling with anemic growth rates and a large debt burden. The government is grappling with limited funds for its spending commitments, including healthcare and tax cuts, while debt servicing costs and a contraction in GDP further add to the financial strain. The situation is drawing increased attention from market participants and the European Central Bank as Italy's economic policies come under scrutiny.
The International Monetary Fund (IMF) did not reach an agreement with Sri Lanka in their first review of a $2.9bn bailout package due to concerns about a potential shortfall in government revenue generation, according to the lender.