1197 days ago
JP Morgan data shows Low income households hit harder in terms of savings than high income households, though both have shown a declining trend. since a peak in Savings in May. However, in April, both saw a surge in savings, a surge that crashed down for low income family whereas high income households hockey sticked and maintained a higher level of savings than pre covid era. Source: JPM
1197 days ago
Not significant enough for small businesses, Trump wants to veto bill passed by congress, holding back millions of Americans from spending this Christmas period. Unemployment benefits are set to end the day after Christmas, leaving 14 million Americans in a complicated situation. Mind you the US population is currently around 320 million. Source; Refinitiv Datastream
1197 days ago
Risk-taking confidence building with higher prices - over-confidence ?
1198 days ago
London's FTSE 100 which gains from a weaker pound due to its export heavy nature, fell 0.3 per cent on news of an increasing pound. On the other hand the UK's FTSE 250 mid-cap index is 0.4 per cent higher since it contains firms more dependent on the domestic economy's health. Source; WSJ
1198 days ago
Italy is the EU's best-performing debt market this year as yields hit lows thanks to the European Central Bank's $2.3 Trillion pandemic asset purchase program. Italian 10-year yield premium over the German bund is a preferred trade for the next year. Commerzbank chief say he is bullish on the spread and calls the trade a high up in an otherwise low-return environment. The ECB is keeping rates and debt service costs low which makes the debt levels sustainable and offers decent yield. Italy's 30 year bonds however pay the highest rate for the tenor among developed markets and some argue buying 30 years bonds and selling German bunds equivalents while doing the inverse with 10 year bonds. Source; Bloomberg
