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New York Times (March 8)

2023/ 03/ 09 by jd in Global News

“It seems even the most bullish on Wall Street now get the message: The Federal Reserve is prepared to raise interest rates until it feels it’s sufficiently beaten back inflation — even if those moves cool off the job market and send the economy into recession.” It will now clearly be “higher for longer.”

 

Bloomberg (January 21)

2023/ 01/ 23 by jd in Global News

“In a week marked by fresh recession angst from Wall Street to Davos, JPMorgan Chase & Co. finds the odds of an economic downturn priced into financial markets have actually fallen sharply from their 2022 highs.” In October, “a contraction was effectively seen as a done deal across markets.” Now, “according to the firm’s trading model, seven of nine asset classes from high-grade bonds to European stocks now show less than a 50% chance of a recession. That’s a big reversal.”

 

Market Watch (November 15)

2022/ 11/ 17 by jd in Global News

“A bullish day is setting up for stocks after more upbeat news on inflation as producer prices fell more than expected.” But the relief rally is likely overdone. “Wall Street remains wary, with fresh warnings from two big banks.” On Monday, Goldman Sachs cautioned “clients that the relief rally in bonds and risky assets was ‘likely overdone,’” just as “one of Wall Street’s most vocal bulls — Marco Kolanovic of JPMorgan — cut his equity risk exposure for the second time in two months, and he also cited that big market bounce last week.”

 

New York Times (September 16)

2022/ 09/ 16 by jd in Global News

“Pessimism is deepening as bellwether companies like FedEx and General Electric warn of worsening economic and business conditions.” On Friday, stocks declined, “ending one of the worst weeks of the year for Wall Street.” This may just be the start of bad news. “A parade of prominent investors and corporate executives made it clear that they believed the worst was yet to come for the economy and financial markets.”

 

Forbes (July 11)

2022/ 07/ 13 by jd in Global News

“Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse. The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000,” according to survey of 950 investors. This “lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets.”

 

Financial Times (June 2)

2022/ 06/ 04 by jd in Global News

“Cloudy with chance of hurricanes for Wall Street.” Jamie Dimon the head of JPMorgan Chase, started the rush to use “meteorological metaphors to make sense of the economic turbulence.” After speaking of big storm clouds and a hurricane striking the economy, other bankers followed suit. Only a few, like Goldman Sachs chief John Waldron, refused to play along. He rejected the use of “any weather analogies,” but largely agreed the outlook is complex and dynamic, “The confluence of the number of shocks to the system, to me, is unprecedented.”

 

Wall Street Journal (April 26)

2022/ 04/ 27 by jd in Global News

“Worries about the war in Ukraine, China’s Covid-19 outbreak, a U.S. or European recession and surging global inflation are making a long-spurned asset increasingly popular with Wall Street’s top money managers these days: cash.” Increasingly asset managers “are looking to move funds into low-risk, cash-like assets. That marks a shift from recent years, when steadily climbing equity indexes trained investors to buy every dip and not miss out on gains by holding cash.”

 

Forbes (April 5)

2022/ 04/ 07 by jd in Global News

“Deutsche Bank on Tuesday became the first major bank on Wall Street to forecast a recession next year, albeit a ‘moderate’ one, thanks to the combination of surging inflation and rising interest rates.” Expectations are increasing for “a possible economic downturn on the horizon, with alarms growing louder after the widely-observed yield curve inverted last week and indicated a looming recession.”

 

Seeking Alpha (January 4)

2022/ 01/ 05 by jd in Global News

“While analysts on Wall Street are confident the bull market will continue uninterrupted into 2022, there are more than enough risks to derail that market outlook. Importantly, none of these independently suggest a significant correction is imminent. However, the risk is that they will undermine the bullish ‘psychology’ of the market.”

 

Bloomberg (June 25)

2021/ 06/ 27 by jd in Global News

“The prospect of investing in massive U.S. government projects—say, by leasing an airport and reaping revenue for decades—has tantalized Wall Street” for years. Finally, it seems their “big wish” has been granted by Biden’s Infrastructure Deal. “The size of the potential capital infusion from private investors… wasn’t announced. But the reference to asset recycling and public-private partnerships… is a start.”

 

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