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Where Is the U.S. Dollar Headed?

Where Is the U.S. Dollar Headed?

The U.S. dollar has surged in recent months, gaining more than 6% relative to the currencies of other major trading partners since mid-July. The rally has reversed the dollar’s decline from the start of the year and ran contrary to consensus expectations. Figure 1: The dollar has risen in recent months. Chart shows the Bloomberg Dollar Spot […]

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Another Rate Hike Bites the Dust

Another Rate Hike Bites the Dust

As expected, and with unanimity, the Federal Open Market Committee (FOMC) opted to keep rates steady, with the fed funds rate remaining in a range of 5.25 – 5.5%, a 22-year high. In a nod to the recent surge in longer-term Treasury yields, the statement had the addition of the word “financial” in the statement […]

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Q3 EV Sector Earnings Outlook: Amid Reports Tesla’s Losing US Market Share, How Will UAW Strike Outcome, ’24 Instant Tax Credits Shape Near-Future?

Q3 EV Sector Earnings Outlook: Amid Reports Tesla’s Losing US Market Share, How Will UAW Strike Outcome, ’24 Instant Tax Credits Shape Near-Future?

Key Takeaways As U.S. EV sales hit a quarterly record, reports say Tesla’s price cuts aren’t protecting its domestic market share—investors will want to hear more  As UAW strikes spread, EV vehicle and battery production talks are sharing equal spotlight with pay and benefits—what that could mean for all EV pricing  How ‘instant’ EV tax […]

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Retail Q3 Earnings: 2023’s Resilient Consumer Was a Surprise, but Rate Pressure, Jobs Picture Could Dim Holiday Lights

Retail Q3 Earnings: 2023’s Resilient Consumer Was a Surprise, but Rate Pressure, Jobs Picture Could Dim Holiday Lights

Key Takeaways Welcome to the post-pandemic shopping era—savings rates are lower, consumer debt is higher, and student loan payments are back Discretionary spending moved downward by the end of Q3—what that could mean for holiday results  What to listen for during top retailers’ earnings calls As retailers face a consumer economy that’s starting to look […]

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Check the Receipts: Cyber Monday Dawns Calmly Ahead of Key Inflation Data, Fed Talk Later In Week

Check the Receipts: Cyber Monday Dawns Calmly Ahead of Key Inflation Data, Fed Talk Later In Week

Key Takeaways It’s PCE week—Fed’s favorite inflation measure arrives Thursday Potential positives for China in ’24, but Asian shares down on weak China industrial profits Two Fed governors on tomorrow’s calendar, preceded today by several Treasury auctions (Monday market open) Calmness prevails Monday as volatility recently dipped to its lowest levels since January 2020, but major […]

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Fitch Downgrades U.S. Credit Rating

Fitch Downgrades U.S. Credit Rating

In a surprise move August 1, credit rating agency Fitch Ratings downgraded U.S. Treasuries to AA+ from AAA.1 Fitch’s explanation for the downgrade was that it “reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to AA and AAA rated […]

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