Inflation in Asia has peaked, says Morgan Stanley

Inflation in Asia has peaked compared to other major economies like the US and Europe, according to Morgan Stanley’s chief Asia economist. “Definitely, inflation has peaked when you look at the data that is already indicative of that. More importantly, we think you should see downside risks to inflation going forward,” said Chetan Ahya of … Read more

US freight rates have peaked, another sign that inflation is slowing

Trucks at the entrance to the Port of Oakland in Oakland, California, USA, on Thursday, July 14, 2022. David Paul Morris | Bloomberg | Getty Images U.S. freight rates were up 28% year over year but fell nearly 2% month-on-month in July, a likely signal that the U.S. market has reached peak freight rates, according … Read more

US is in recession in housing market, homebuilders say

A worker drills plywood into a single-family home under construction in Lehi, Utah, on Friday, January 7, 2022. George Frey | Bloomberg | Getty Images Construction sentiment in the single-family market fell into negative territory in August as builders and buyers grapple with higher costs. The National Association of Home Builders/Wells Fargo Housing Market Index … Read more

mr. Big Short issues a serious warning about the economy

In the current recent euphoria of the markets, Michael Burry has to appear as a bummer. In addition, as “Cassandra BC”, he chose as a handle in the microblogging website Twitter. This suggests he doesn’t mind often going against the grain of the general trend if he ends up being right. Major financial indices closed … Read more

Fed expected to stick to aggressive rate hikes, strategists say

Market strategists say the Federal Reserve is unlikely to change its aggressive rate hikes, despite positive signs this week that US inflation could ease. On Thursday, the producer price index fell surprisingly 0.5% in July from the previous month, compared to an estimate of 0.2% gain, according to a Dow Jones survey. Year-over-year, the index … Read more

Consumer confidence in housing market hits lowest in more than a decade

A sign stands outside a luxury home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Consumer confidence in the housing market has fallen to its lowest level since 2011, as both potential buyers and sellers have become more pessimistic, according to a monthly survey published Monday … Read more

Treasury returns in focus after strong job growth figures

Treasury yields fell Monday after unexpectedly robust jobs data increased the likelihood of aggressive rate hikes by the Federal Reserve. The benchmark 10-year Treasury yield declined 4 basis points to approximately 2.7993%, while the 30-year Treasury yield declined 2 basis points to 3.0383%. Yields move inversely to prices and a basis point equals 0.01%. That … Read more

Why the Best States for Business Might Be the Worst for Employees

Companies are not afraid to pick up and move. Many states offer companies tempting incentives such as lower taxes if they relocate their operations, but a superior business environment does not always equate to a superior work environment. “Things that benefit employers when it comes to their profit or their margin, in terms of economic … Read more

New York polio case tip of iceberg, hundreds of others may be infected

Hundreds of other people could contract polio after an adult in a New York City suburb contracted the virus and became paralyzed last month, the state’s top health official said this week. New York State Health Commissioner Mary Bassett warned that the confirmed case of polio in an unvaccinated adult, coupled with detection of the … Read more

Average job switcher got a pay increase of almost 10%, research shows

Morsa images | DigitalVision | Getty Images Many employees who recently switched jobs have seen increases in their new paychecks well outpacing inflation — by nearly 10% or more, according to a new study from the Pew Research Center. The typical American who switched employers in the year from April 2021 to March 2022 received … Read more