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...As you can see at right, bank credit is still restricted, but spreads don’t care....
...That’s like two grand a month....
...You see the same thing when you look at savings — the amount of money people have in checking and savings accounts across the income distribution. Look at people who make less than $25,000 a year....
...The Economist’s argument is that (a) households’ excess savings will soon be exhausted, and when they are, higher rates will bite (b) companies are already feeling the pain at the margins, as rising bankruptcies...
...A train company might be the only operator that can take you from A to B (though some days you might be quicker walking)....
...Russia said its 300,000 b/d export reduction would also stay in place until December....
...Just take a look at Bank of America’s latest fund manager survey for August....
...The People’s Bank of China, by contrast, has cut....
...But rate policy works with a (hard to predict) lag and excess household savings are declining at a (hard to measure) rate....
...The S&P 500 has not made a new high in two years, and is now 20 per cent above its 150-year trend, down from 45 per cent in late 2021....
...I think there’s some great cost-savings potential for Refinitiv just simply by leveraging what Microsoft Azure has to offer....
...At pixel time it sits 155th, between Shanghai Commercial and Savings Bank and Webster Financial of Stamford, Connecticut....
...That’s B-O-L-A underscore S-O-L. Claer Barrett And Damien? Damien Jordan If you just put Damien Talks Money into Google, or Making Money is the podcast if that’s more your thing....
...S&P has rated the bonds single-B minus, among the riskiest ratings it assigns....
...has been supported by the pandemic-era build-up of household savings, and the wheels will finally come off when those savings are depleted....
...S&P downgraded its rating based on the increased debt size after the deal. It described the deal as “notable” for Nasdaq, although “not transformational”....
...The audit firm also drops in the f-word pretty quickly and concludes that there is an unacceptable risk of material fraud....
...After 2021’s epic collapse of Archegos, the family office that had used equity swaps with a smattering of Wall Street’s biggest banks to supercharge its bets before it imploded, it only made sense to kick...
...’ in Hanover China, EU, Japan, UK, US: S&P Global/Cips/HCOB/Caixin/Jibun Bank manufacturing PMI data UK, Nationwide house price survey US, Goldman Sachs president John Waldron speaks at the Bernstein...
...The squeeze is about to get more acute after the Bank of England raised interest rates 14 times in 21 months to try to get inflation under control, sending mortgage rates to their highest levels since February...
...At the same time, Ford is looking to pay less for parts: It has found more than $500mn in savings so far. The carmaker wants to reduce vehicle complexity and the options available to consumers....
...Customers rushed to withdraw savings amid rumours, denied by the bank, that Bolivia’s financial regulator was about to intervene....
...But this was to be no ordinary stay at the pleasure palace immortalised in F Scott Fitzgerald’s novel Tender is the Night....
...That’s another acronym, S-O-F-R. And what does that stand for? Harriet Clarfelt It stands for the Secured Overnight Financing Rate. More acronyms for you....
...Architectural practice SHoP’s neo-Deco Brooklyn Tower is dark and brooding, complementing the almost century-old Williamsburgh Savings Tower....
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