Economy news

Since President Donald Trump started to take office, the S&P 500 has been up about 68%. Since late March, a 73% surge has been aided by massive fiscal and monetary stimulus. In addition, the percentage was lifted by expectations that a COVID-19 vaccine will spur economic reopening. Plunging Treasury yields after the Federal Reserve cut …

Trump Leaves Roaring Stocks, a Weaker Dollar, Tons of Debt Read More »

China will provide necessary policy support for 2021 economic recovery to avoid a “policy cliff.” Small companies remain beleaguered amid the pandemic, said a senior official at the state planner on Tuesday. The Chinese economy sped up in Q4, with growth beating expectations. It got through a rough COVID-19-stricken year in remarkably good shape. Furthermore, …

China to Support Economic Recovery, Plans to Avoid ‘Policy Cliff’ Read More »

On Tuesday, Janet Yellen will testify at Capitol Hill to affirm the United States’ commitment to market-set currency rates. She is Biden’s pick to be Treasury secretary nominee. At a Senate confirmation hearing, she wants to say that the U.S. does not seek a weaker dollar. Reports said, if asked about the incoming administration’s dollar …

Janet Yellen: US Doesn’t Seek Weaker Dollar Read More »

Updates from JPMorgan, Citigroup, Wells Fargo, and PNC Financial (NYSE:PNC) start the earnings season. The week saw a sharp improvement in their profit outlook due to a sell-off in U.S. Treasury bonds. The difference between short-term rates and long-term rates is what determines a bank’s lending margins. Short-term rates should stay anchored near zero for …

Bank Earnings, Response to Stimulus, Stocks and Retail Sales Read More »