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☆ 'Something could break': The Fed risks recession, bank failures if it doesn't cut rates soon, economist Mark Zandi says
▼ + stars: | 2024-05-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The Fed risks "breaking" something in the economy if it delays rate cuts, according to Moody's Mark Zandi. Higher interest rates raise the odds of recession or bank failures, the economist warned. "If I were king for the day, I would really be cutting rates at this point," Zandi told Yahoo Finance. Speaking to Yahoo Finance on Thursday, Zandi warned of the consequences that could arise if the Fed doesn't cut interest rates over the next few months. Keeping rates at their current level raises the risk of recession, and could expose other cracks in the financial system, Zandi warned.

Persons: Moody's Mark Zandi, Zandi, —, Mark Zandi Organizations: Yahoo Finance, Service, Moody's, Business

☆ Portfolio manager names 3 under-the-radar growth stocks to buy right now
▼ + stars: | 2024-05-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

One investor says growth stocks still offer opportunities — but it's time to get selective. "Growth stocks will continue to outperform value stocks, generally speaking. Growth stocks are expected to grow rapidly, but do not pay out dividends and are often often more expensive than so-called value stocks. When considering which stocks to buy, Coons stressed the importance of valuations. "I would stay away from growth stocks outperforming because of story and invest in those with real revenue and earnings growth."

Persons: Adam Coons, Coons, PayPal Holdings Coons, " Coons, Moody's Organizations: Winthrop Capital Management, CNBC Pro, PayPal Holdings, PayPal, C Technologies, SS Locations: Coons

☆ Home Sellers' Tough Summer: Get Ready for Lower Prices, Fewer Offers
▼ + stars: | 2024-05-08 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Rich baby boomers jumped in with all-cash offers, and sellers scored huge windfalls as weary buyers pushed prices to new heights. After all, people have to move for a wide variety of life reasons; mortgage rates be damned. "The further and further we get from the peak of the market," Peterson told me, "the harder it is to deny what's happened." Mortgage rates haven't fallen — in fact, they've gone up about 0.6 percentage points since the start of the year. "It can always be tricky telling somebody that they were just lucky because it makes you sound envious," Peterson told me.

Persons: Rich, Sellers, Eric Peterson, Peterson, Austin, Freddie, they've, Selma Hepp, Freddie Mac, Mike Simonsen, Redfin, towners, Libby Levinson, Katz, Price, Levinson, John Burns, they'll, Realtor.com, you'd Organizations: Freddie Mac, Reserve, Federal Housing Finance Agency, Altos Research, Sun, John, John Burns Research, Consulting Locations: Austin, Boise , Idaho, Denver

☆ The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.

Persons: —, Marija Veitmane, Veitmane Organizations: Service, Federal, Street Global Markets, Business, CNBC, AAA

☆ Hartford Total Return Bond ETF yields nearly 5% and prides itself on finding value across the market
▼ + stars: | 2024-05-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

HTRB saw a total return last year of 7.15%, and ranked in the 23rd percentile among its peers, according to Morningstar. The portfolio has 51% of its assets in mortgage-backed securities and 25% in investment-grade credit, according to the fund's website. Compared to many of its peers in the intermediate core plus bond Morningstar category, Hartford Total Return Bond ETF leans a bit more on securitized markets instead of investment-grade corporate debt, according to Morningstar. Finding opportunities Right now, one of the areas Goodman sees value in is agency mortgage-backed securities. Goodman also likes structured finance right now, like collateralized loan obligations, commercial mortgage-backed securities and nonagency residential mortgage-backed securities.

Persons: Campe Goodman, Morningstar, Goodman, HTRB, Morningstar . Goodman, Mike Mulach, Bonds, Fitch Organizations: Hartford, SEC, Wellington, Bloomberg U.S, Morningstar, BB, Poor's, Federal Reserve Locations: Wellington, Eastern Europe

☆ Boeing taps debt market to raise $10 billion: Reuters
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California. Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said. Moody's said the rating reflects Boeing's still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026. Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday. The deal's bookrunners leading the bond sale include Bank of America , Citi, JPMorgan and Wells Fargo , according to the deal's term sheet.

Persons: Moody's, bookrunners, Wells, Brian West Organizations: Boeing, U.S, Bank of America, Citi, JPMorgan Locations: El Segundo , California, maturities, Wells Fargo

☆ As home sellers, buyers wait on a Fed cut, here's how mortgage rates have impacted the spring housing market
▼ + stars: | 2024-04-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ending April 25, according to Freddie Mac data via the Federal Reserve. It remains unclear when the Federal Reserve might make its first rate cut. "I believe our first rate cut is penciled in for July," said Matthew Walsh, assistant director and economist at Moody's Analytics. "We might not see rates fall in any meaningful way until [the] later half of this year," he said.

Persons: Freddie Mac, Matthew Walsh, Walsh Organizations: Federal Reserve, Moody's Analytics, Finance

☆ Former Moody's top lawyer pleads guilty in tax case
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: +1 min

Moody's Corporation logo is photographed on the firm's headquarters in Lower Manhattan, NY. A former longtime general counsel to Moody's has pleaded guilty to willfully failing to file federal income tax returns, federal prosecutors in New Jersey said Friday. Goggins pleaded guilty on Thursday before a federal magistrate judge in Newark, New Jersey, prosecutors said. "Mr. Goggins deeply regrets and accepts full responsibility for failing to file certain personal income tax returns," Christopher Ferguson, a lawyer for Goggins, said in a statement. Goggins retired from Moody's in September after more than two decades and was replaced as general counsel by Richard Steele.

Persons: Moody's, John Goggins, Goggins, Christopher Ferguson, Richard Steele, Ferguson Organizations: Moody's, New, New Jersey U.S Locations: Lower Manhattan, NY, New Jersey, Newark , New Jersey, Moody's

☆ 'Not that concerned' about inflation getting back to Fed's 2% target, says Moody's Mark Zandi
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Not that concerned' about inflation getting back to Fed's 2% target, says Moody's Mark ZandiMark Zandi, Moody's Analytics chief economist, joins 'Squawk on the Street' to discuss if the economy's performing 'too well', how Zandi expects inflation to play out, and more.

Persons: Mark Zandi Mark Zandi

☆ Israel downgraded by another big credit ratings agency as Middle East tensions escalate
▼ + stars: | 2024-04-19 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

S&P Global cut its rating for Israel on Thursday as tensions in the Middle East escalate. Moody's, another ratings agency, downgraded Israel for the first time in February. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementS&P Global downgraded Israel on Thursday, warning that escalating tensions in the Middle East could affect its ability to repay debt. The ratings agency cut Israel's sovereign credit score from "AA-" to "A+" while maintaining a negative overall outlook.

Persons: Moody's, — Organizations: Israel, Service, P Global, Business Locations: Israel, Iran

☆ Wall Street pushes out rate-cut expectations, sees risk they don't start until March 2025
▼ + stars: | 2024-04-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won't be interest rate reductions anytime soon. Now, Wall Street is wondering if the central bank will cut at all this year. "My sense is they need two, probably three consecutive months of inflation numbers that are consistent with that 2% target. Market pricing for rate cuts has been highly volatile in recent weeks as Wall Street has chased fluctuating Fed rhetoric. As for a second rate cut, there was a tilt toward one in December, but that remains an open question.

Persons: Jerome Powell, Powell, there's, They've, Mark Zandi, Zandi Organizations: Financial, Moody's, Fed Locations: Washington , U.S

☆ Detroit put up a $400,000 Hollywood-style sign that residents think is so ugly they are making diss tracks about it
▼ + stars: | 2024-04-14 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Detroit spent $400,000 on a new Hollywood-style sign as it hosts the NFL Draft. Detroit views the NFL Draft as a chance to showcase its recovery after years of financial trouble. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Detroit rapper Gmac Cash asks in his new single, "Detroit Sign." Related storyCash, a local Detroit rapper, has several songs about landmark attractions in the city, usually with a comedic spin.

Persons: —, Gmac Cash, Jessica Parker, Parker, Cash, Jimmy Kimmel, Mike Duggan, Duggan Organizations: Detroit, NFL, Service, Detroit Free Press, Times, Fairmount Sign Company, Free Press, Fairmont, Business Locations: Detroit, TikTok, Moody's, America

☆ China has strong fundamentals and should remain a focus for businesses, Singapore trade minister says
▼ + stars: | 2024-04-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Businesses should continue to focus on China and explore opportunities to expand their presence in the world's second-largest economy, Singapore Minister for Trade and Industry Gan Kim Yong said Friday. China had briefly entered deflation territory late last year, and is still struggling with a debt-laden real estate sector. However, "if you take a deeper look, when I engaged the businesses and the people on the ground, I think the sense it gives me is that China's fundamentals are strong," Gan said on CNBC's "Squawk Box Asia." The country's investments in infrastructure will also put it in a good position to recover in the longer term, Gan added. "So I think in the meantime, in the immediate future, they will see headwinds, but I think in the longer term, the fundamentals remain strong."

Persons: Industry Gan Kim Yong, China, Fitch, Gan Organizations: Singapore Minister, Trade, Industry, Moody's Locations: China, Singapore

☆ Fitch's negative outlook for China is more bad news for its stalling economy
▼ + stars: | 2024-04-10 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Read previewFitch Ratings has cut its outlook for China, adding to the gloom surrounding the world's second-largest economy. It cut its outlook from "stable" to "negative," but maintained its overall rating at "A+." The move comes after Moody's Investor Services, another major credit-rating agency, also downgraded its outlook for China to "negative" in December. As a result Fitch expects economic growth to fall to 4.5% for 2024. The ratings agency said policymakers will probably have no choice but to borrow to address its economic woes.

Persons: —, Fitch, Fitch's Organizations: Service, Business, Moody's Investor Services, Analysts, St Louis Federal Reserve, CSI Locations: China, Beijing

☆ Jim Cramer's top 10 things to watch in Wednesday's inflation-driven stock market decline
▼ + stars: | 2024-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

Morgan Stanley raises Nvidia price target to $1,000 per share from $795. Goldman Sachs' semiconductor readthroughs from Google's conference: Arm positive, Nvidia mild positive, Advanced Micro Devices mild negative, Intel mild negative. Barclays raises Club name Ford price target to $16 per share from $15. Other price target raises on Club names on Wall Street: Danaher , DuPont and Wynn Resorts . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Dow, Thomas Kurian, Morgan Stanley, Goldman Sachs, Jefferies, Ed Bastian, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Core CPI, Taiwan Semiconductor Manufacturing Company, Nvidia, Google, Club, Broadcom, Gaudi, Barclays, Ford, DuPont, Wynn Resorts, Jim Cramer's Charitable, CNBC Locations: Fitch, China

☆ Here’s the inflation breakdown for March 2024 — in one chart
▼ + stars: | 2024-04-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"The big rock in the way here is the cost of shelter," Zandi said. In fact, underlying inflation after stripping out shelter costs is already back to target, Zandi said. watch nowThe increase is largely attributable to higher oil prices. "For most Americans, the thing that bothers them the most about inflation is high food prices." Americans' buying patterns also simultaneously shifted away from services — like entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation.

Persons: Eric Thayer, That's, Mark Zandi, Zandi, It's, Hamrick, They're, Sarah House Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, of Labor Statistics, U.S, Energy Information Administration, BLS, Wells, Wells Fargo Economics Locations: U.S, Wells Fargo

☆ Miami shows how a new kind of gentrification is coming to US cities
▼ + stars: | 2024-04-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Miami has one of the hottest real estate markets in the country. Real estate developers are promoting new housing in drier parts of the city as an escape from regular flooding, researchers have found. And Miami is far from alone — coastal flooding, extreme heat, and other climate impacts are affecting cities across the country. And Miami residents are spending a larger share of their income on housing these days. The rent-to-income ratio in Miami has risen from 35.9% in 2019 to 37.0% at the end of last year, according to Moody's.

Persons: Moody's, Pedro, — Organizations: Service, Business, Liberty, Dade, McKinsey & Company, Miami Locations: Miami, South Florida, Little Haiti, Liberty City, — Miami, Florida, Dade County

☆ Biden says U.S. economy is world's best. Trump calls it a 'cesspool.' Data is clear.
▼ + stars: | 2024-04-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

President Joe Biden is fighting to convince inflation-weary voters that the U.S. economy is healthy. "America has the best economy in the world," he told NBC's Today Show on Monday, laying out an argument that is central to his reelection campaign. "The U.S. economy is leading the way for the global economy. It's driving the global economic train," Moody's Chief Economist Mark Zandi told CNBC. Besides sticky high prices that are projected to cool in the coming year, Zandi said that the fundamentals of the current U.S. economy are nearly ideal: "The economy is picture perfect.

Persons: Joe Biden, NBC's, Donald Trump, Trump, Mark Zandi, Dow Jones, Zandi Organizations: Flex, International Monetary Fund, IMF, CNBC Locations: U.S, West Columbia, South Carolina, America, United States, Georgia

☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
▼ + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.

Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian

☆ UBS is bullish on investment-grade corporate bonds. Here's why
▼ + stars: | 2024-04-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Yields may be down from last year's highs, but there is still plenty for income investors to like about investment-grade corporate bonds, according to UBS. The effective yield on the ICE BofA U.S. Corporate Bond Index , which tracks the performance of U.S. dollar-denominated investment-grade corporate debt, is currently hovering around 5.5%. "This measures IG's return over duration-matched Treasuries, meaning that it's been advantageous to own IG over U.S. government bonds," he added. Inside the investment grade market, UBS prefers the financial sector over nonfinancial issuers, and favors short- and intermediate-term duration. Meanwhile, the spread pickup from A-rated bonds to BBB-rated bonds is historically tight, on average.

Persons: Barry McAlinden, McAlinden, Fitch Organizations: UBS, ICE, Corporate, ., Treasury, Poor's

☆ Inflation will be key to Fed's decision on rate cuts: Moody's Mark Zandi
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation will be key to Fed's decision on rate cuts: Moody's Mark ZandiMark Zandi, Moody's Analytics chief economist, and Ted Rossman, senior industry analyst at Bankrate, and CNBC's Steve Liesman join 'The Exchange' to break down Jerome Powell's Wednesday remarks and more.

Persons: Mark Zandi Mark Zandi, Ted Rossman, Steve Liesman, Jerome Powell's

☆ Bumper corporate profits helped prevent mass layoffs and a recession, says leading economist
▼ + stars: | 2024-04-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

After-tax profits hit a record high of $2.8 trillion in the fourth quarter, per the Commerce Department. "The gangbuster gain in profits helps explain why businesses have been able and willing to hold the line on layoffs, which was key to avoiding recession," he said. Advertisement"It also helps explain the record stock market, and the resulting positive wealth effects and resilient consumer spending." Related storiesAs for stocks, they're generally valued at a multiple to company profits so they've hit record highs too. That has made stockholders feel wealthier and more comfortable spending, Zandi said.

Persons: —, Mark Zandi, That's, Zandi Organizations: Service, Corporate America, Corporations, Commerce Department, Business, Federal Reserve, Companies

☆ Here are Tuesday's biggest analyst calls: Nvidia, Meta, Boeing, Eli Lilly, Disney, Coca-Cola, Grindr & more
▼ + stars: | 2024-04-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Oppenheimer reiterates Nvidia as outperform Oppenheimer said it's sticking with its outperform rating on shares of Nvidia. Citi reiterates Eli Lilly as buy Citi said the biopharma company is "riding the GLP-1 rocket." Citi downgrades Clorox to neutral from buy Citi said that the bullish thesis for the stock has largely played out for now. Citi upgrades Estee Lauder to buy from neutral Citi said it sees a "topline inflection point" for the stock. Barclays upgrades Array Technologies to overweight from equal weight Barclays said it sees share gains for the solar company.

Persons: Oppenheimer, McCormick, Argus, Needham, it's, Nelson Peltz, Melius, Horton, Citi, Eli Lilly, Estee Lauder, ARRY, JMP, Piper Sandler, Piper, Nio, CFRA, Goldman Sachs, Goldman, Blackstone, Petco Organizations: Nvidia, JPMorgan, Disney, Boeing, Citi, Coca, MTH, RBC, GE Vernova, General Electric, Bank of America, Meta, Travel, Barclays, Eaton, MI, Olema Pharmaceuticals, UBS, Bank of, of America Locations: underperform, LEN, DHI, Asia, Eaton, 4Q23

☆ Detroit is getting ready to host the NFL draft a decade after going bankrupt
▼ + stars: | 2024-03-31 | by ( George Glover | ) www.businessinsider.com time to read: +7 min

Detroit is set to host the NFL draft next month, a decade after it went bankrupt. Mayor Mike Duggan told BI that he hopes the event will reintroduce the city to the rest of the US. AdvertisementThe new DetroitApril's NFL draft — one of the biggest weekends on the sporting calendar — is set to bring eyeballs back to Detroit. AdvertisementDowntown Detroit will host the 2024 NFL draft. "No matter where you went in southeastern Michigan, everyone was smiling and talking to each other about the Lions," Duggan added.

Persons: Mike Duggan, —, Duggan, Axios, Joshua Lott, Bill Pugliano, it'll, we've, Kirby Lee, Dan Gilbert, who's, Jared Goff, Dan Campbell, Gilbert, Kyusung Gong, it's Organizations: Detroit, NFL, Lions, Service, Ford, GM, Detroit Free Press, Reuters, Economic, KC, Sports, Vegas and Kansas City, Getty, Cleveland Cavaliers NBA, Tampa Bay Buccaneers, Los Angeles Rams, San Francisco 49ers, The Lions, NCAA College Locations: Detroit, Midwest, Korean, Michigan, America, Motor City, Reuters Detroit, Detroit ., Kansas City, Vegas and Kansas

☆ Federal regulators are wielding a classic Warren Buffett concept to go after Apple — his biggest stock bet
▼ + stars: | 2024-03-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Federal regulators used the word "moat" eight times in their civil antitrust complain to describe the defenses that Apple sets up to keep competitors at bay. AdvertisementCastles and moatsBuffett popularized the concept of a company having a "moat" around it that protects it from rivals. The dynamics of capitalism guarantee that competitors will repeatedly assault any business 'castle' that is earning high returns. AdvertisementThe Department of Justice has added insult to injury by not only targeting Buffett's biggest stock bet, but also wielding the investor's moat metaphor against him, at least indirectly.

Persons: —, cheekily, Warren Buffett, Buffett, Berkshire Hathaway, you've, Elon Musk, he's, Charlie Munger, Apple, He's, Tim Cook, they're Organizations: Service, Justice, Apple, Business, Berkshire, Coke, Gillette, Costco, Cola, American, Regulators, of Justice Locations: Berkshire, Apple, Buffett's, Berkshire's

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