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☆ A Threat to the American Way of Real Estate
▼ + stars: | 2023-12-01 | by ( ) www.wsj.com time to read: +1 min

A sign advertises a home for sale in Washington, Aug. 23. Photo: Michael Reynolds/Zuma PressRecent antitrust developments and potential regulatory changes could reshape the U.S. real-estate landscape, making the American dream a potential nightmare (“A Big Legal Defeat for the Realtors,” Review & Outlook, Nov. 1). In Missouri, U.S. District Judge Stephen Bough found that settlements in the first of numerous antitrust class actions are “fair, reasonable and adequate.” We agree, and we welcome improvements that enhance commission transparency, ensure an open marketplace and maintain a framework that ensures agents are representing the interests of both the seller and the buyer. Overreach beyond these rules—as contemplated in some quarters—may jeopardize one of the pillars of fair transactions: buyer agency. This risks leaving the next wave of home buyers navigating the financial decision of a lifetime without professional support.

Persons: Michael Reynolds, Stephen Bough Organizations: Realtors, ”, District Locations: Washington, In Missouri, U.S

☆ CNBC Daily Open: The Moody’s downgrade was a non-event
▼ + stars: | 2023-11-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

In this article AMZNDISGSNFLXENR-DEXOM Follow your favorite stocks CREATE FREE ACCOUNTThe US Treasury building in Washington, DC, US, on Tuesday, Aug. 15, 2023. Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors, focused on the week ahead, are already shrugging off bad news from last week. On Friday, Moody's Investors Service cut its ratings outlook on the U.S. government from stable to negative.

Persons: Nathan Howard, Joe Biden, Xi Jinping, Fitch, Treasurys, There's, Michael Reynolds, Goldman Sachs, Peter Oppenheimer, Jeff Cox Organizations: Treasury, Bloomberg, Getty, CNBC, U.S, Investors, Moody's, Service, Poor's, Glenmede Investment Management, Dow Jones, Nasdaq, Reserve Locations: Washington , DC, Israel, U.S

☆ Moody's warning on the massive U.S. debt burden has turned into a nonevent
▼ + stars: | 2023-11-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThere was a time when bad news about U.S. debt would send markets into a tailspin, but not this month. Markets on Monday shrugged at a warning Friday from Moody's Investor's Service that it was lowering its ratings outlook on Treasurys. But with the domestic fiscal and political mess seemingly old news, the ratings service saber-rattling just doesn't seem to have the same impact. "There's no piercing insight from Moody's that they have proprietary information that nobody knows about the U.S. government. watch nowIndeed, no one has to tell investors about the $33.7 trillion U.S. debt and the $1.7 trillion deficit in fiscal 2023.

Persons: Michael M, Fitch, There's, Michael Reynolds Organizations: New York Stock, Santiago, Moody's Investor's, Poor's, U.S, Glenmede Investment Management, . Locations: New York City, Washington, Wall

☆ The FAA Finally Gets Permanent Leadership
▼ + stars: | 2023-10-25 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

Mike Whitaker sailed through a confirmation hearing earlier this month, a contrast to the experience of President Biden’s previous nominee. Photo: Michael Reynolds/EPA/ShutterstockThe U.S. Senate confirmed President Biden’s pick to head the Federal Aviation Administration on Tuesday, giving the air-safety regulator its first permanent leader in more than 18 months. Mike Whitaker , who previously served as deputy FAA administrator during the Obama administration, will confront a slew of problems—from short-staffed air-traffic control to outdated technology and heightened safety worries after a spate of close calls at U.S. airports earlier this year.

Persons: Mike Whitaker, Biden’s, Michael Reynolds, Obama Organizations: U.S . Senate, Federal Aviation Administration, U.S

☆ What a Long, Strange and Unsatisfying EV Trip It’s Been
▼ + stars: | 2023-10-20 | by ( James Freeman | ) www.wsj.com time to read: +1 min

Secretary of Energy Jennifer Granholm and Secretary of Transportation Pete Buttigieg charge an electric vehicle in Takoma Park, Maryland in 2021. Photo: michael reynolds/ShutterstockIt’s a hard life on the road, especially when the journey involves politically correct transportation. Regular readers are familiar with the travails of Secretary of Energy Jennifer Granholm and Secretary of Transportation Pete Buttigieg as they have bravely attempted to promote impractical travel. The Times identifies David Gelles as “a correspondent on the Climate desk,” suggesting he’s at least open to the idea of inefficient transport. Sure enough, Mr. Gelles reports in the Times’s Climate Forward newsletter that he’s had good experiences with Tesla and its charging network.

Persons: Energy Jennifer Granholm, Transportation Pete Buttigieg, michael reynolds, Shutterstock, David Gelles, Gelles, he’s, Tesla Organizations: Energy, Transportation, New York Times Locations: Takoma Park , Maryland, Minneapolis

☆ This week’s US inflation data is very important. Here’s why
▼ + stars: | 2023-09-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All this uncertainty has led markets to lack conviction, flip-flopping as conflicting narratives around inflation rates and Fed hikes prevail. But this week’s readings — just a few days ahead of the Fed’s September policy meeting -— could give the markets direction. “Getting core inflation to 2% won’t come quickly, and upside risks remain,” said Greg McBride, chief financial analyst at Bankrate. And while the Fed generally looks at core inflation, the impact of crude prices often extends into other areas of the economy. Pensions and inflation adjustments: The UAW wants a return of traditional pension payment plans and retiree health care for all UAW members.

Persons: There’s, —, Price, Jason Pride, Michael Reynolds, Glenmede, ”, Greg McBride, David Kelly, Chris Isidore, Shawn Fain, they’re, Chris, Jordan Valinsky, Instacart, “ Organizations: CNN Business, Bell, New York CNN, United Auto Workers, Federal, Consumer, of America, JPMorgan Asset Management, UAW, Ford, Jeep, Dodge, Chrysler, Workers, Union Locations: New York, China, Saudi Arabia, Russia, America, Instacart

☆ Will Chinese deflation help cure the West’s inflation problem?
▼ + stars: | 2023-08-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The Chinese economy has hit a rough patch. What’s happening: Chinese consumer spending, factory production and investments in long-term assets like property or machinery all slumped last month. On Monday, the Chinese government surprised investors by deciding not to cut an important interest rate that influences mortgages. The beauty company is “mindful of the headwinds that have emerged in China’s economy,” said the report. And even still, many regional banks have struggled to prevent deposit outflows.

Persons: ”, Jason Pride, Michael Reynolds, Lisa Shalett, Edward Moya, Estee Lauder, Moya, “, Elisabeth Buchwald, Moody’s, ‘ Barbie ’, “ Barbie ”, Jordan Valinsky, Greta Gerwig, “ Oppenheimer, “ Barbie Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Morgan Stanley Wealth Management, European, Apple, Intel, Ford, Starbucks, Nike, Saudi, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, China, Europe, Beijing, Asia, Russia, Saudi Arabia, Silicon

Megacap technology-related growth stocks dipped, with Alphabet (GOOGL.O) and Tesla (TSLA.O) falling, as investors fretted that interest rates could stay higher for longer. The tech-heavy Nasdaq (.IXIC) posted the biggest weekly decline of the three major indices. The Dow Jones Industrial Average (.DJI) rose 34.29 points, or 0.10%, to 34,510.38. The S&P 500 energy index (.SPNY) rose, with Exxon Mobil (XOM.N) among leading gainers. Shares of cryptocurrency firm Coinbase Global (COIN.O) fell and Riot Platform (RIOT.O) tumbled as bitcoin hit a two-month low.

Persons: Jason Reed, Estee Lauder, Jerome Powell, Nvidia's, Michael Reynolds, Amruta Khandekar, Saeed Azhar, Maju Samuel, David Gregorio Our Organizations: U.S . Federal, REUTERS, Federal, Nasdaq, Nvidia, Dow Jones, Walmart, Exxon Mobil, Treasury, Thursday, Hawaiian, Coinbase, Thomson Locations: Washington, Bengaluru, New York

☆ The debt ceiling drama may feel like it’s over, but it may have only just begun
▼ + stars: | 2023-05-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

There could be an even more dramatic second act to the debt ceiling drama. This time around, one of the top credit rating agencies, Fitch, has already placed US debt on rating watch negative. As of Wednesday, the other two major sovereign debt credit rating agencies, S&P and Moody’s, have not placed US debt under review. If Fitch downgrades US debt, it could cause yields on Treasury notes to spike, underscoring the increased risks associated with holding US debt. However, the opposite occurred after S&P downgraded US debt in 2011 — investors shrugged it off and bought more bonds, sending yields lower.

Persons: Joe Biden, Kevin McCarthy, Biden, It’s, Fitch, McCarthy, Chip Somodevilla, Michael Reynolds, ”, George Catrambone Organizations: New, New York CNN, Senate, AAA, US Treasury, U.S . Department of Treasury, Treasury Department, DWS, Treasury Locations: New York, States, US, Washington ,, Americas

☆ Debt ceiling deal won’t have much impact on the US economy, analysts say
▼ + stars: | 2023-05-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

The US economy is the world’s largest, so the relatively modest effects on growth could be good news for investors who feared the debt ceiling crisis could have posed a greater and more widespread drag. Here’s what’s in the proposed deal and how it would show up in the broader economy. What’s in the debt ceiling dealThe deal would suspend the federal government’s $31.4 trillion debt limit through January 2025. The debt deal and GDPEconomists at Goldman Sachs expect the deal to reduce federal spending by as much as 0.2% of gross domestic product per year over the two years of the deal, compared with their baseline estimate. “Getting this uncertainty out of the way for markets and decision makers has a real impact,” said Mike Skordeles, head of US economics at Truist Advisory Services.

Persons: Joe Biden, Mark Zandi, Biden, Goldman Sachs, ” Goldman Sachs, Ian Shepherdson, Gregory Daco, ”, Mike Skordeles, Zandi, ” Michael Reynolds Organizations: DC CNN, House Republicans, Moody’s, CNN, Internal Revenue Service, Congressional, Pantheon, Bureau of Labor Statistics, Truist Advisory Services, Investment, “ Locations: Washington, West Virginia

☆ Don’t expect the stock markets to rejoice about the debt ceiling deal
▼ + stars: | 2023-05-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —You’d expect the stock market to surge after the White House and House Republicans reached a tentative deal to raise the debt ceiling, But markets may have other plans. The stock market, for the most part, has been ignoring the serious risks associated with the United States defaulting on its debt. Even if Congress passes a bill to raise the debt ceiling and President Joe Biden signs it, it could take months before stocks and other financial markets move on. That will temporarily suck some liquidity out of the stock market, he said. A look back at the 2011 debt ceiling crisisIn 2011, lawmakers came to an agreement on raising the debt limit just hours before the United States would have defaulted.

☆ From your 401(k) to bonds, here’s how to protect your financial well-being as debt default worries grow
▼ + stars: | 2023-05-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

New York CNN —The White House and House GOP negotiators are rushing to finalize a deal to raise the country’s debt limit. With that X-date only about one week away, there’s still no deal to raise the debt ceiling – putting Americans’ finances in danger. If you invest in bonds, pay attention to when your Treasury bills are maturing. Stick with high-quality investmentsSteer clear of corporate junk bonds or emerging market bonds, CNN has previously reported. Federal government contractors could also see a lag in payments, which could affect their ability to compensate their workers, CNN previously reported.

☆ Here’s What Treasury, Fed Might Do in a Debt Ceiling Crisis
▼ + stars: | 2023-04-30 | by ( Jon Hilsenrath | ) www.wsj.com time to read: 1 min

The U.S. Treasury is currently using accounting maneuvers to pay its bills without breaching the debt ceiling. Photo: Michael Reynolds/ShutterstockU.S. regulators have long insisted that financial institutions have contingency plans for potential crises. A potential crisis now looms: an unprecedented default on Treasury debt. But Congress sets a statutory ceiling on that debt, currently $31.4 trillion, which was reached in January. Treasury is using accounting maneuvers to meet its bills without breaching the ceiling, but it is expected to exhaust those options as early as June or possibly later in the summer.

☆ Biden’s Labor Secretary Pick Seeks to Win Over Skeptical Democrats
▼ + stars: | 2023-04-20 | by ( Austen Hufford | ) www.wsj.com time to read: 1 min

Acting Labor Secretary Julie Su has the support of many of the country’s unions, though some business groups oppose her. Photo: michael reynolds/ShutterstockWASHINGTON—Acting Labor Secretary Julie Su defended her record at the start of a confirmation hearing Thursday, as she seeks to gain Senate approval to lead the department. President Biden picked Ms. Su for the cabinet post earlier this year. 2 position at the Labor Department in 2021, but confirmation for the top job isn’t assured in the closely divided Senate. Ms. Su needs near universal support from Mr. Biden’s party if Republicans are united against her.

☆ Analysis: Banking crisis scars struggling U.S. real estate stocks
▼ + stars: | 2023-04-19 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

After slumping 28% last year, the S&P 500 real estate sector (.SPLRCR) has gained about 1% in 2023, lagging an 8% rise for the overall S&P 500 (.SPX). Real estate is the only one of the 11 S&P 500 sectors to underperform the benchmark index in both 2022 and so far in 2023. The real estate sector has slumped 2% since SVB's troubles came to light on March 8, compared to a 4% rise for the S&P 500. “There is nothing about the current banking situation ... that made life easier for real estate companies,” said Peter Tuz, president of Chase Investment Counsel. S&P 500 real estate company earnings are expected to fall 0.3% this year after rising almost 11% in 2022, according to Refinitiv IBES.

☆ Premarket stocks: What markets are watching after digesting the US jobs data
▼ + stars: | 2023-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

While inflation has come down and other economic data point to a cooling economy, the labor market has remained remarkably resilient. The labor market is cooling but not rapidly or significantly, and further rate hikes can’t be ruled out. More trouble for commercial real estateA few weeks ago, Before the Bell wrote about big problems brewing in the $20 trillion commercial real estate industry. In a worst-case scenario, anxiety about bank lending to commercial real estate could spiral, prompting customers to yank their deposits. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate.

☆ American offices are half-empty. That could be the next big risk for banks
▼ + stars: | 2023-04-10 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

“I’m more concerned than I’ve been in a long time,” said Matt Anderson, managing director at Trepp, which provides data on commercial real estate. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp. Questions about the health of banks with sizable exposures to commercial real estate loans cause customers to pull deposits. That forces lenders to demand repayment — exacerbating the sector’s downturn and further damaging the banks’ financial position. The likeliest outcome is thought to be an uptick in defaults and reduced access to funding for the commercial real estate industry.

☆ Reynolds: Markets are mispricing the chances of a recession this year
▼ + stars: | 2023-03-30 | 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 EmailReynolds: Markets are mispricing the chances of a recession this yearGlenmede's Michael Reynolds weighs in on the markets and the possibility of a recession.

☆ Jobs report jolts Wall Street bulls as inflation fears return
▼ + stars: | 2023-02-03 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

The S&P 500 (.SPX) index was down about 1% on Friday though still up 8% on the year. The Labor Department's nonfarm payrolls report on Friday showed a gain of 517,000 jobs in January, almost three times what was expected. The Fed's policy rate is currently in the 4.50%-4.75% range. Those betting that the Fed might cut rates later this year also lost some conviction, with fed funds futures traders now expecting the policy rate to go down to 4.7% in December. Reporting by Davide Barbuscia; Editing by Ira Iosebashvili and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Before the market opened, U.S. economic data showed retail sales and producer prices declined more than expected in December, while production at U.S. factories fell more than expected and November output was weaker than thought. The Dow Jones Industrial Average (.DJI) fell 613.89 points, or 1.81%, to 33,296.96 and the S&P 500 (.SPX) lost 62.11 points, or 1.56%, to 3,928.86. Today's economic data served as a trigger to initiate a profit taking spell and the groups with most profits to take have been the ones that have done best last year," said Stovall. Earlier in the day, St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel. The S&P 500 posted nine new 52-week highs and 2 new lows; the Nasdaq Composite recorded 78 new highs and 20 new lows.

☆ Wall St Week Ahead Stumbling Treasury rally clouds bond market outlook for 2023
▼ + stars: | 2022-12-30 | by ( Davide Barbuscia | ) www.reuters.com time to read: +5 min

[1/2] A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. December’s BofA Global Research survey showed fund managers were the most overweight bonds versus stocks in nearly 14 years. Benchmark 10-year Treasury yields have climbed over 40 basis points since mid-December to nearly 3.9%, the highest in over a month. At the moment, the Treasury market “is more focused on inflation still than … recession," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Matthew Nest, head of active global fixed income at State Street Global Advisors, believes yields will likely fall in 2023.

☆ Kevin McCarthy's oversight agenda will be 'a recurring skit on SNL' if he makes MAGA cheerleaders Marjorie Taylor Greene and Lauren Boebert investigators: GOP strategists
▼ + stars: | 2022-12-12 | by ( Warren Rojas | ) www.businessinsider.com time to read: +8 min

Reps. Marjorie Taylor Greene and Lauren Boebert want in on the GOP oversight blitz. the Oversight Committee member said of the need to keep congressional probes above board. McCarthy's office has repeatedly told Insider that the House GOP steering committee, which McCarthy leads, will handle assignments for the next Congress "at the appropriate time." Aaron Cutler, a former House GOP leadership aide and now partner at Hogan Lovells, urged House Republicans to avoid "focusing on the wrong things," and to cut bait if needed. Michael Reynolds-Pool/Getty ImagesGiven that some sort of spectacle is probably unavoidable at this point, Roe urged House Republicans to tread carefully.

☆ 'People need to temper their expectations': A former top TD Ameritrade technical analyst says stocks have another 19% to fall before bottoming as recession looms and investors wrongly anticipate a Fed
▼ + stars: | 2022-12-10 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Year-to-date the S&P 500 is down 17% as the Fed tightens policy to rein in inflation. Bierman is the chief market technician at TheoTrade, and held the same position at TD Ameritrade between 2007-2015. The Fed has been tightening policy this year at the fastest pace in decades in an effort to cool the highest inflation rates since the early 1980s. The second problem is that the US economy is already in a recession, Bierman says. But the number one indicator for Bierman that the US economy is in recession is the yield curve.

☆ 'Another bear market rally': $38 billion Glenmede shares 3 reasons why the stock market's recent run is due to fail — including the track record for every bear market since World War II
▼ + stars: | 2022-12-07 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Investors hoping that the stock market's rally since mid-October is sustainable are bound for disappointment, according to top investors at wealth management firm Glenmede. The current bear market (highlighted below in green) is 11 months in, and the S&P 500 is down 18% over that time. Glenmede"The current bear market appears to be close to 2/3rds of the way through the typical bear-market decline. The current market appears to be following a similar trajectory of an average historical bear market so far," they said. "We've had a nice little run here in the stock market — it's the third double-digit percentage gain since the bear market started," Doll said.

☆ Is the worst over for bitcoin and the rest of crypto?
▼ + stars: | 2022-12-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

This is not the first crypto winter, as long-term fans of bitcoin can attest. “It is very clear that we as an industry need to build better products,” said Hany Rashwan, CEO of 21.co, a crypto investment firm. That’s about triple where prices were during the depths of the crypto bear market in the early pandemic days of 2020. Others point out that the underlying blockchain technology behind bitcoin and crypto remains solid. Pride and Reynolds added that it’s erroneous to think that bitcoin can hold up well during stock market volatility.

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