BBC (October 13)
We’ve learned three things about the UK’s economy from the semiannual IMF forecast. “1. The UK is weathering the Iran war better than expected…. 2. The UK is doing better than other major economies…. 3. But things could get worse.” Also of note, by 2031, the UK “is projected to have the lowest annual borrowing of the G7 group of countries, which includes Canada, France, Germany, Italy, Japan and the US.”
Tags: 2031, Borrowing, Canada, Economy, France, G7, Germany, Iran war, Italy, Japan, Lowest, Major economies, MF forecast, UK, Worse
Newsweek (October 12)
U.S. baby boomers (born between 1946 and 1964) account for approximately “52 percent of total U.S. household net worth.” They “own roughly 41 percent of all U.S. real estate assets,” which translates to “nearly $19 trillion worth of property.” As they age, boomers are “poised to reshape large parts of the U.S. economy in the coming years as their enormous wealth and changing needs redirect spending toward health care, housing, financial services and premium experiences.”
Tags: $19 trillion, $52, 1946, 1964, 41%, Assets, Baby boomers, Economy, Financial services, Health care, Household net worth, Housing, Real estate, Reshape, Spending, U.S., Wealth
Fortune (October 11)
“China’s debt interest costs are soaring above U.S. levels and growing faster than any other budget category as Beijing struggles to prop up growth.” Current estimates suggest “debt-servicing payments will account for 19.2% of the central government’s general public budget this year, up from 12% in 2014.”
Tags: Beijing, Budget, China, Costs, Debt interest, Debt-servicing payments, Government, Growing, Soaring, Struggles, U.S.
Barron’s (October 10)
“Record highs can be cause for trepidation when they’re being propelled by good vibes and happy feelings. But the start of earnings season should remind us that old-fashioned fundamentals are still driving this four-year-old bull market.” Nevertheless, “investors aren’t popping out the Dom Pérignon; actually, they seem to be on tenterhooks.”
Tags: Bull market, Dom Pérignon, Earnings season, Fundamentals, Happy feelings, Investors, Propelled, Record highs, Tenterhooks, Trepidation, Vibes
The Times (October 10)
Donald Trump’s “thirst for diesel and votes” is giving “succour” to Putin. “Although Britain and its European allies cannot undo Trump’s short-sighted deal, they can refuse to let it dictate the future of Ukraine. If Washington is prepared to weaken the pressure it puts on Putin, Europe must strengthen it. Appeasement is not a strategy.”
Tags: Allies, Appeasement, Diesel, Europe, Putin, Short-sighted, Succour, Thirst, Trump, UK, Ukraine, Votes
Wall Street Journal (October 7)
“France is on the precipice of a dangerous financial spiral. The global surge in interest rates has exposed the country, once considered an oasis of relative stability in Europe’s financial markets, as one of the continent’s weakest links.”
Tags: Dangerous, Europe, Exposed, Financial spiral, France, Global surge, Interest rates, Markets, Oasis, Precipice, Stability, Weakest link
Reuters (October 7)
“The amount of oil in storage that is accessible to the global market is running low… making the market more fragile and putting upward pressure on prices.” For example, “Stocks of crude oil in the U.S. Strategic Petroleum Reserve are at their lowest since October 1982” while “natural gas inventories are also depleted, making prices vulnerable to spikes.”
Tags: 1982, Accessible, Crude oil, Depleted, Fragile, Global market, Inventories, Lowest, Natural gas, Oil, Prices, Storage, Strategic Petroleum Reserve, U.S., Upward pressure
Seeking Alpha (October 6)
“French 10-year government bonds have fallen behind all major developed-market sovereign debt this year, posting the worst year-to-date total return among peers at negative 6.8%…. Plagued with massive deficits and total public debt near 120% of GDP, France’s performance trails behind both core European benchmark issuers and historically higher-yielding southern European debt.”
Tags: 10-year, 120, Benchmark issuers, Developed market, European debt, France, GDP, Government bonds, Massive deficits, Plagued, Sovereign debt, Total public debt, Total return
Bloomberg (October 4)
As Middle East crude flows return to near-normal levels, “global prices remain stuck above $100, roughly 40% higher than when the conflict began.” The elevated prices are “sending shock waves through the global economy, feeding inflation and squeezing industries and consumers alike,” but rapid improvement is unlikely. “A confluence of problems” now keeps prices high:” depleted inventories and reserves that need to be replaced, fears the “unresolved war could reignite,” the drastically increased cost of transit, and elsewhere Russia’s war with Ukraine has curtailed other supplies.
Tags: 100, 40% higher, Conflict, Confluence, Consumers, Cost, Crude, Depleted inventories, Fears, Global economy, Industries, Inflation, Middle East, Reignite, Reserves, Russia, Shock waves, Transit, War
USA Today (October 3)
“Six years after the COVID-19 pandemic, Americans still feel gloomy and no once-a-month economic report seems to make them happy.” While the economy and jobs market have both surpassed pre-pandemic levels, consumer sentiment still lingers. “Sentiment has ebbed and flowed in the last six years, but has never climbed back to pre-pandemic levels.”
Tags: Americans, Consumer sentiment, COVID-19, Economic report, Economy, Gloomy, Happy, Jobs market, Lingers, Pandemic, Six years, Surpassed
