As financial market gloom continued to deepen on Friday, Deutsche Bank, Wall Street’s most pessimistic bank, came out with yet another eye-opening view: Its U.S. economists, led by Matt Luzzetti, now expect the Federal Reserve to end its rate-hike campaign at 4.9% in 2023’s first quarter.“way beyond” what the market is pricing, comes just days ahead of the Fed’s next meeting on Sept.
Meanwhile, one key market rate — the one-year Treasury yield TMUBMUSD01Y, 3.988% — hovered near 4% on Friday, a development that some say could spill over into other rates and exacerbate worries throughout financial markets, in the U.S. and abroad. “For policy to be restrictive, real or inflation-adjusted rates need to be positive and, right now, Fed officials can’t rely on forecasts about inflation to decline over time,” he told MarketWatch. “For them to have confidence, they need to get the fed-funds rate above inflation, at least by early next year,” he said, although Deutsche Bank doesn’t expect an almost 5% fed-funds rate to be sustained for very long.
Friday brought another downbeat day in financial markets, with all three major stock indexes DJIA, -0.45% SPX, -0.72% COMP, -0.90% finishing lower after trimming earlier heavy losses. FedEx’s profit warning was being read by some, such as BNP Paribas Chief U.S. Economist Carl Riccadonna, as fitting into his view that a “massive deceleration” is under way for the U.S. economy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European gas futures up as Deutsche Bank analyst says supplies to remain tight for yearsEuropean natural gas benchmark prices rose 6% on Thursday, one day after EU policymakers unveiled a plan to clampdown on profits by energy companies in...
Source: MarketWatch - 🏆 3. / 97 Read more »
U.S. puts $3.5 billion seized from Afghan central bank into relief fund held in SwitzerlandThe U.S. government announced Wednesday that $3.5 billion seized from Afghanistan’s central bank would be placed in the Bank for International Settlements in Switzerland as part of a relief fund for Afghanistan. USA=world biggest looter
Source: WashTimes - 🏆 235. / 63 Read more »
Woman with toy gun grabs trapped savings from Beirut bankShe said she had repeatedly visited the bank to ask for her money and was told she could only receive $200 a month in Lebanese pounds.
Source: 10News - 🏆 732. / 50 Read more »
Trump told Jordan’s king he would give him the West Bank, shocking Abdullah II, book saysThe unreported offer of the West Bank to Jordan's king is among the startling new details about Trump’s chaotic presidency in the book “The Divider: Trump in the White House 2017-2021” by Peter Baker, chief White House correspondent for the New York Times, and Susan Glasser, staff writer for The New Yorker. Lord have mercy I doubt it... From anyone else, this would be beyond OUTRAGEOUS. From The Former Guy, fairly easy to believe, sadly enough. Off to read more, though.
Source: washingtonpost - 🏆 95. / 72 Read more »
Central Bank of Argentina Issues New Compliance Rules for Digital Wallets – Regulation Bitcoin NewsThe Central Bank of Argentina recently issued a set of rules to heighten the level of protection users of popular digital wallets in the country must receive. 🚀 Thnks a millon 🚀 Thnks a millon. Everyone want's to conrol crypto and have big taxes
Source: BTCTN - 🏆 531. / 51 Read more »
Breakingviews - ECB offers flimsy shield against Spain’s bank levyInvestors in Spanish banks are clutching at straws. Shares in the country’s lenders including Banco Santander , BBVA and Caixabank rose by as much as 6% on Thursday on hopes that the European Central Bank may force Madrid to modify a 3 billion euro tax on bank profits, introduced to help cover the spiralling costs of energy .
Source: Breakingviews - 🏆 470. / 51 Read more »