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LONDON, June 1 (Reuters) - Even if the U.S. dollar's singular dominance as global currency of choice is in fact ebbing, it may not automatically lead to a weaker dollar exchange rate - and could periodically mean the opposite. The big advantage of large dollar reserve holdings alongside wide commercial usage and trade in dollars overseas was clear. But the issue is typically read in markets as a reason to bet on a weakening dollar exchange rate - or even to pump alternatives such as gold or crypto tokens. Of course, that was a global economy riven with fixed dollar exchange rate pegs that supercharged the transmission of Fed policy, most of which have since been dismantled. That may be a world many countries prefer if they are sure of viable alternatives - but may not mean a weaker dollar.

Persons: chomping, Alan Greenspan's, Janet Yellen, Yellen, Mike Dolan, Kirsten Donovan Organizations: Federal, OASIS, Fed, Reuters Graphics Reuters, Reuters, Twitter, Thomson Locations: U.S, United States, Washington, China, Ukraine, Brazil, Russia, India, South Africa, Iran, Venezuela, outflows

☆ Jimmy Buffett hospitalized, postpones show
▼ + stars: | 2023-05-19 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —A Jimmy Buffett & the Coral Reefer Band concert scheduled to be held in Charleston, South Carolina this weekend, has been postponed due to the singer being hospitalized. Buffett announced the news in posts on both his site and on social media. “Two days ago, I was just back from a trip to the Bahamas, thawing out from the California ‘winter tour,’ and chomping at the bit to get to Charleston,” his note reads. “Thank you for your prayers and thoughts, your amazing years of loyalty, and just remember, ‘NOT YET!’” his note ended. Ticket holders will receive emailed information regarding the rescheduled date.

☆ WestJet pay debate sets scene for Air Canada's pilots
▼ + stars: | 2023-05-18 | by ( Allison Lampert | ) www.reuters.com time to read: +3 min

MONTREAL, May 18 (Reuters) - A faceoff this week between WestJet Airlines and its pilots over pay could set the stage for aviators' demands in future bargaining with Air Canada (AC.TO). It would be the first major pilots' strike in Canada since 1998, according to a spokesperson for Canada's Labor Minister Seamus O'Regan, who is at the talks. ALPA president Jason Ambrosi recently told Reuters that a key priority is to narrow the pay gap between Air Canada pilots and their U.S. counterparts, echoing the union's demand for a "North American" contract at WestJet. Gradek added there is a group of Air Canada pilots "who have been chomping at the bit" to get a significant bump in wages. Air Canada pilots, who have received a 2% wage increase per year since 2014, have complained Delta’s latest hourly pay rates are up to 45% higher.

☆ Bank Turmoil Is Paving the Way for Even Bigger ‘Shadow Banks’
▼ + stars: | 2023-05-06 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Whipsaw trading in shares of regional banks this week made it clear the fallout from three federal bank seizures was far from over. Some investors are betting against even seemingly healthy banks like PacWest, and regulators are gearing up to tack on new capital constraints for small and medium-size lenders. Large banks, though raking in cash, are facing their own constraints, saddled with loans written before interest rates started rising. That means businesses large and small may soon need to look elsewhere for loans. And a growing cohort of nonbanks, which don’t take deposits — including giant investment firms like Apollo Global Management, Ares Management and Blackstone — are chomping at the bit to step into the vacuum.

☆ RESTRICT Act explained: proposed TikTok ban is 'a PATRIOT Act for the digital age,' some lawmakers say
▼ + stars: | 2023-04-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +11 min

The RESTRICT Act, a bill that could ban TikTok nationwide, was introduced in the Senate last month. GOP Senator JD Vance of Ohio called the bill proposal "a PATRIOT Act for the digital age." But the RESTRICT Act — touted as a way ban TikTok nationwide — would do far more than prevent users from accessing an app known for its viral dance routines and conspiracy theory videos. "This will directly improve our national security as well as safeguard Americans' personal information and our nation's vital intellectual property." Even those who support a TikTok ban, such as Senator JD Vance of Ohio, don't see the RESTRICT Act as an appropriate solution.

CNN —Senate Minority Leader Mitch McConnell has returned to the Senate following a period of recovery in the wake of a fall. McConnell was at the Capitol on Friday, but Monday marks the GOP Senate leader’s first day back in session. I look forward to returning in person to the Senate soon.”Earlier this year, McConnell became the longest-serving party leader in Senate history. During his absence, Senate Republicans who spoke with the McConnell said he was itching to get back to the chamber. 2 Senate Republican, Minority Whip John Thune, noted that he was “anxious” to return, and Texas Senator John Cornyn told reporters that McConnell was “chomping at the bit” to come back to the Capitol.

CNN —Senate Minority Leader Mitch McConnell will return to the Senate on Monday following an absence as he recovered from a fall, the Kentucky Republican said Thursday. He was treated for a concussion and a rib fracture before being released to an inpatient rehabilitation facility for physical therapy. In a statement, the Senate GOP leader said that, following advice from his physical therapists, he would “spend the next few days working for Kentuckians and the Republican Conference from home.”Earlier this year, McConnell became the longest-serving party leader in Senate history. During his absence, Senate Republicans who spoke with the McConnell said he was itching to get back to the chamber. 2 Senate Republican, Minority Whip John Thune, noted that he was “anxious” to return, and Texas Sen. John Cornyn told reporters that McConnell was “chomping at the bit” to come back to the Capitol.

The Act states the Fed should conduct monetary policy "so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." On that basis, the average core PCE inflation rate since 2010 is exactly 2.0% - even after the recent scare and with the monthly rate ebbing again fast. At 1.25%, real 10-year yields - measured by market inflation expectations rather than prevailing inflation - are far above sub-zero post-pandemic troughs and are also some of the highest in over a decade. And hence the cat and mouse game between Fedspeak and market pricing - rather than a material change to investors' assumption that the Fed is nearly done. U.S. Fed has missed the mark on inflationThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Prehistoric humans were surprisingly creative cooks
▼ + stars: | 2022-11-22 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —Stone Age cooks were surprisingly sophisticated, combining an array of ingredients and using different techniques to prepare and flavor their meals, analysis of some the earliest charred food remains has suggested. (From left) Breadlike food was found in Franchthi Cave in Greece; pulse-rich food with wild peas was uncovered in Shanidar Cave in northern Iraq. The charred food remains from Franchthi Cave dated from 12,000 years ago, when it was also occupied by hunter-gatherer Homo sapiens. Much research on prehistoric diets has focused on whether early humans were predominantly meat eaters, but Kabukcu said it was clear they weren’t just chomping on woolly mammoth steaks. A Neanderthal hearth was unearthed at Shanidar Cave, where charred plant remains were also found.

☆ Morning Bid: Downbeat on the downshift
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. The recent burst of stock market optimism around the world still seems to be on shaky ground. Despite expectations the U.S. Federal Reserve will signal a much-vaunted 'downshift' in its rate rise campaign from next month - following a fourth straight 75 basis point rise on Wednesday - the incoming economic numbers won't play ball. The other slightly peculiar source of global market optimism this week has been unverified speculation over the past 48 hours that China will ease its draconian zero COVID rules in March. In Europe, markets awaited the Bank of England's latest interest rate decision on Thursday - with the bank's biggest rate rise in 33 years forecast.

A down shift in the rate hiking pace by the Bank of Canada this week just stoked that speculation. And even in the face of some spooky corporate health warnings, stock markets fed off Fed 'pivot' talk yet again and have been chomping at the bit for a fortnight. When that 2-10 yield curve inverted in April for the first time in almost three years - shortly after the Fed's first hike - recession angst took a firm grip. Fed economists argued vociferously that the 2-10 yield curve was not reliable and insisted a 'soft landing' was still possible if more accurate shorter-term yield curve spreads that remained positive were used instead. An elongated measure of the yield curve between 3 months and 10 years - used by the New York Fed in its recession probability models - dropped into negative territory for the first time since the pandemic hit.

☆ Inflation is dominating the conversation on earnings calls. Here's what execs are saying
▼ + stars: | 2022-10-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

One thing's clear at the start of the corporate earnings season: Inflation is still a hot topic for companies. The consumer price index increased 0.4% in September, which was a hotter reading than the 0.3% expected by Dow Jones, according to the Bureau of Labor Statistics. It was at 0.6% without food and energy factored in, which was also above Dow Jones' estimate of 0.4%. That was similarly above the Dow Jones expectation of 0.2%. The company beat earnings per share expectations for the third quarter but revenue came in lower than analysts anticipated.

Based on U.S. export inspection data, the United States exported roughly 145 million tonnes of grain and oilseeds in calendar year 2021. In 2021, some 42% of October-December soybean shipments to China left from the U.S. Gulf versus 52% from Pacific ports, though the Gulf share was 58% in 2020. Through 29 days of September, soybean sales to all destinations of 3.1 million tonnes were an 11-year low for the month. About two-thirds of all U.S. grain shipments to Mexico are shipped via interior methods such as rail, but the other third relies on the Gulf. Interior exports accounted for 14% of all U.S. grain and oilseeds last year, third behind the Gulf and Pacific regions.

Graham Cochrane is a millionaire business coach and author who has been self-employed for 13 years. In 2009, Graham Cochrane was struggling to put food on the table after two layoffs in one year. "I didn't think I was judgmental back then, but I learned a lot more about people that are struggling," Cochrane said. He learned to balance risk aversion and risk takingWhen Cochrane was struggling to earn money, he was under an immense amount of stress. "That made me a little risk averse," Cochrane said, adding that he developed a fear of scarcity: "What if it all goes away again?"

☆ A survey of 2,000 Americans found they're more likely to talk about politics and relationships with their friends than money
▼ + stars: | 2021-06-16 | by ( Tanza Loudenback | ) www.businessinsider.com time to read: +4 min

Talking money with friends is unpopular across all generations, and more so among older Americans. When asked which topics they regularly discuss with friends, each of the following outranked the topic of money: health, sex and relationships, politics, current events, and pop culture. Although there is some variation among generations, the trend tracks across all age groups — Americans are most likely to talk about current events with their friends and least likely to bring up finances. In this sense, the 'money taboo' is not one taboo but several, each tailored to a different social context," Pinsker wrote. The younger a person is, the data revealed, the more likely they are to ask friends or relatives for financial advice.

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