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Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. The benchmark JGB yield climbed to 0.845% right at the start of the trading day, its highest since July 2013, after revisiting peaks the previous day as well. But it eased immediately after the BOJ announcement, and was last 1.0 basis point (bp) lower than Thursday's closing level at 0.83%. The BOJ caps the 10-year yield at 1% under its yield curve control (YCC) policy, after doubling it in a surprise move at the end of July. "If the yen crosses 150, it would of course be more difficult for the BOJ to intervene in the JGB market.

Persons: Issei Kato, Masayuki Kichikawa, YCC, Fumio Kishida, Brigid Riley, Kevin Buckland, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Sumitomo Mitsui DS Asset Management, Treasury, Thomson Locations: Tokyo, Japan, U.S

☆ At 5%, this is where chart analysts say the 10-year Treasury yield is headed next
▼ + stars: | 2023-10-20 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

US10Y 5D mountain 10-year yield this week The benchmark 10-year Treasury yield briefly reached the 5% milestone late Thursday, raising questions of how long it will stay elevated and what the effect will be on stocks. "This is the last leg of the upmove" from the 2020 low, when 10-year yields touched 0.31%, he said. Fairlead Strategies founder Katie Stockton also pinned 5.25% as the next resistance level for the 10-year bond yield. Meanwhile, Piper Sandler's chief market technician Craig Robinson also said the 10-year yield is due for a pullback. Ciana, on the other hand, estimates the 10-year yield likely staying above 5% for a while.

Persons: Wolfe, Rob Ginsberg, Ginsberg, Paul Ciana, Elliott, Ciana, Katie Stockton, Piper, Craig Robinson, Robinson Organizations: Treasury, Atlanta, RBC, Wolfe Research, Bank of America Locations: Stockton

☆ Higher rates may not threaten these stocks that generate cash and have low debt
▼ + stars: | 2023-10-19 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The country's largest energy producer Exxon Mobil also made the list, with a free operating cash flow three-year CAGR of nearly 100%. Exxon Mobil also maintains a nearly 21% debt-to-equity ratio. Average consensus analyst forecasts imply more than 13% further upside for Exxon Mobil stock from Thursday's $112.95 close. Exxon Mobil last week agreed to buy Permian Basin driller Pioneer Natural Resources in an all-stock deal for $60 billion, the largest merger and acquisition of 2023. Chipmaker Advanced Micro Devices touts a 4.4% debt-to-equity ratio and a roughly 4% debt-to-asset ratio.

Persons: Jerome Powell, Salesforce Organizations: Treasury, Federal Reserve, Economic, of New, CNBC, Exxon Mobil, ExxonMobil, Natural Resources, AMD Locations: of New York

Based on International Monetary Fund data on comparative international investment positions through the early part of this year, U.S. portfolio investment overseas - equity, fund shares and debt securities - stood at more than $14.5 trillion. US funds shy of overseas equityUS economic growth roaring at more than 5%US expensive for a reason? The upshot could be an ever wider U.S. deficit on its net international investment position - potentially lifting the dollar as that inflates, but leaving it vulnerable to the yawning gap and foreign investor sentiment down the road. IMF chart on US net international investment deficitUS stocks lead the packThe opinions expressed here are those of the author, a columnist for ReutersEditing by Josie KaoOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, that's, it's, Julius Baer's, Yves Bonzon, Josie Kao Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, Monetary, ICI, Thomson, Reuters Locations: New York City, U.S, China, Gaza, Russia, Ukraine, Moscow, Washington, Taiwan, United States, Swiss, Switzerland, Germany

☆ Exxon Mobil’s Pioneer Deal Is a Direct Threat to Democracy - The New York Times
▼ + stars: | 2023-10-18 | by ( Jeff D. Colgan | ) www.nytimes.com time to read: +2 min

The cumulative effect of it all on democracy would be so significant that regulators ought to be paying close attention. The Pioneer deal not only seems to be a huge bet to take advantage of that expected failure; it is also a commitment to contribute to the failure. Larger, consolidated oil companies have incentives to restrain production, restricting supply to artificially sustain high prices. Higher oil prices would mean higher gasoline prices at the pump — a classic antitrust concern. Her legal team could make a case built around the potential harm the deal would do to competition in the oil market.

Persons: Lina Khan’s Organizations: Exxon, Federal Trade Commission, Pioneer Locations: Paris, Texas

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.

Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore

☆ Asian stocks slip on rate worries, yen in focus
▼ + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.

Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia

[1/2] A worker clears debris so delivery vehicles can exit a FedEx Ground distribution center in this aerial photograph taken over Carson, California, U.S., September 16, 2022. "They have to fight for every package right now, it's great for shippers," said LJM Consultants partner Kenneth Moyer, a former UPS pricing negotiator who now works with delivery customers. The world's biggest parcel delivery firm added it is using price negotiations to encourage attractive high-margin or high-volume customers, while discouraging high-cost deliveries. Third quarter ground delivery rates are forecast to fall 0.55% per package versus a the year earlier period, according to the TD Cowen/AFS Ground Pacrel Freight Index. But experts are skeptical, particularly as UPS offers to cover early termination fees for customers that switched to FedEx.

Persons: Bing Guan, That's, Kenneth Moyer, Deyman Doolittle, Wall, Moyer, Mark Taylor, Taylor, Satish Jindel, ShipMatrix, Micheal McDonagh, Yokeley, Lisa Baertlein, Ben Klayman, Aurora Ellis Organizations: FedEx, REUTERS, United Parcel Service, UPS, U.S . Postal Service, LJM, Cowen, Reuters Graphics Reuters, Teamster, Department, USPS, Amazon, AFS Logistics, International Brotherhood of Teamsters, Teamsters, Thomson Locations: Carson , California, U.S, Macy's, Los Angeles

☆ De-dollarization would require governments to sever political and economic ties with US
▼ + stars: | 2023-09-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The dollar's dominance is sticky, political scientist Carla Norrlöf wrote in Project Syndicate. A de-dollarization collective is also unlikely as countries could lose access to the US security guarantee, Norrlöf said. "Governments would need to sever economic and political ties to the US. A de-dollarization collective is also unlikely as countries would lose access to the US security guarantee, Norrlöf said. Even governments who are not direct beneficiaries of American defense would hesitate to worsen relations with the US, a leading military power.

Persons: Carla Norrlöf, Norrlöf Organizations: Project Syndicate, Service, University of Toronto, Atlantic Council, greenback Locations: Wall, Silicon, China, Russia

The nearly week-old United Auto Workers strike against Ford (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) is viewed as a signal of the strength of the U.S. labor movement that has garnered national support from Americans. The UAW members from two striking plants gathered in Toledo were rolling out for the one-hour, 45-mile (72 km) drive to Wayne, Michigan, where Ford workers also walked off the job last week. In Michigan, Ohio and Missouri, the three states where workers are currently striking, models made by the Big Three dominate the leaderboard of new auto registrations. The United States is still the second-largest car market in the world, trailing only China. Union membership has fallen steadily over several decades in the United States.

Persons: Esperanza Ledesma, I'm, Ledesma, Roxanne Stadtfeld, Stadtfeld, Randi Weingarten, Liz Shuler, Weingarten, Brandon Cappelletty, Cappelletty, Ben Klayman, Joe White, David Gaffen, Jamie Freed Organizations: Fords, United Auto Workers, Ford, General Motors, UAW, GM, Big, P Global, Union, American Federation of Teachers, AFL, Thomson Locations: TOLEDO , Ohio, Toledo, Stellantis's, Ohio, Michigan, Wayne , Michigan, Monroe , Michigan, Lake Erie, Michigan , Ohio, Missouri, United States, China, U.S, Toledo , Ohio, Detroit

"We leveraged our union's most powerful weapon: the right to strike," Unifor said of the tentative deal in a statement. Unifor had sought improved wages and pensions, as well as support in the transition to electric vehicles and additional investment commitments by Ford. The Canadian union will now turn to getting deals with General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), whose deadlines had been extended while the Ford talks proceeded. The UAW has said it will announce strikes against more U.S. plants on Friday if no serious progress is made in talks with automakers. Many UAW workers are most concerned about the tiered wage structure that they say has created a yawning gap between newer and older employees, forcing some to work two jobs to make ends meet.

Persons: Unifor, Stellantis's Ram, Ford, Roxanne Stadtfeld, Anirudh Saligrama, Ben Klayman, Richard Chang, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit Three, Ford, General Motors, Chrysler, Reuters Graphics, Ford Bronco, Chevrolet, UAW, GM's, Silverado, DoorDash, Thomson Locations: Canada, Canadian, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Ohio, Michigan, Monroe , Michigan, Bengaluru, Ben, Detroit

That professionalisation has underpinned the success of the ninth Women's World Cup, which ended on Sunday with Spain beating England by a single goal in a final that pitted the two European countries with the strongest domestic leagues against each other. Attracting record crowds and television audiences, the tournament buoyed hopes that the women's game can start to bridge the yawning financial gap that exists with the men. TV BLACKOUTIn broadcast rights, the women's game has struggled to compete. The FIFA president, Gianni Infantino, threatened Europe's "Big 5" nations with a TV World Cup blackout unless their broadcasters upped their offers. But both Chadwick and Carlota Planas, a Spain-based women's' football agent representing several World Cup players, argued that the women's game now offers the values of tenacity, resilience and togetherness, which can appeal to advertisers.

Persons: Stoke City's, Molly Holder, Spain's, Olga Carmona, Sunday's, Gianni Infantino, Jill Ellis, Lisa Parfitt, Jill Scott, Chloe Kelly, Ella Toone, Kieran Maguire, Simon Chadwick, Chadwick, Carlota Planas, Planas, let's, Holder, Kate Holton, Nick Mulveney, Helen Reid, Suban Abdulla, Matt Scuffham Organizations: Stoke City women's, Reuters, Stoke City FC, REUTERS Acquire, Stoke, Spain, England, Deloitte, Real Madrid, Real Madrid men's, FIFA, Women, Football, Germany, University of Liverpool, Wembley, Super League, men's Premier League, Manchester City, Arsenal, School, Thomson Locations: Stoke, Trent, Britain, Handout, STOKE, England, MADRID, Spain, France, Germany, Italy, United States, Manchester, Chelsea, Liverpool, Sydney, London

☆ Morning Bid: China sets sombre tone with property turmoil
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Kevin BucklandChina continues to set the mood for markets, and the tone is unswervingly sombre. Such hopes may have bolstered Chinese property shares in the Asian morning, but the wider markets in China and the rest of the region were gloomy. The Hang Seng Index sank about 0.7%, with mainland Chinese, Japanese and South Korean shares all also down. The People's Bank of China was signalling its intent to shore up the yuan again today, setting the official mid-point a whopping 1,000 pips stronger than the Reuters estimate. And with U.S. benchmark yields heading for pre-financial crisis highs, the yield gap between the two economies is yawning.

Persons: Kevin Buckland China, China Evergrande, Will, Philip Lane, Kevin Buckland, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, South, People's Bank of, Fed, Bank of England, ECB, Thomson Locations: Frankfurt, Silicon, Germany, China, U.S, People's Bank of China, Will China, Japan, Tokyo, Europe, Asia

☆ On Our National Mall, New Monuments Tell New Stories
▼ + stars: | 2023-08-17 | by ( Blake Gopnik | ) www.nytimes.com time to read: +2 min

Combine those three terms, and you often end up in a glorious muddle. For just one month, Friday, Aug. 18 through Sept. 18, the National Mall will be hosting “Pulling Together,” an open-air exhibition that tests what works best, or fails least, when artists, publics and monuments are brought together. “Pulling Together” makes room for monuments that talk, for instance, about Black church leaders with AIDS, about the schoolchildren who cut through Washington’s color line, and about Asian migration after America’s war in Vietnam. (One shocking absence: art that addresses the sexism undermining half the world’s humans. The show is planned as the first installment in “Beyond Granite,” a series of temporary public projects led by the Trust for the National Mall with the National Capital Planning Commission and the National Park Service.

Persons: Paul Farber, Salamishah Tillet, Lincoln, Farber Organizations: Art, AIDS, Trust, National Capital Planning Commission, National Park Service, Rutgers University, The New York Times, Mellon Foundation Locations: Vietnam, Philadelphia

☆ Analysis: Japan's policymakers hold fire as yen enters intervention range
▼ + stars: | 2023-08-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

But a key factor behind the yen's weakness is unchanged, namely the yawning yield gap with the United States. Yet currency traders remain nervous about provoking intervention, as the yen entered the same zone that triggered heavy dollar selling by Japanese authorities in September and October of last year. For now, traders are testing the waters by selling the yen against sterling and the Swiss franc, mindful that selling against the dollar could gather momentum quickly. From a purely macroeconomic perspective, Kichikawa said, officials have no imperative to prevent yen weakness before 150, which is consistent with the mild inflationary pressure that the BOJ aims to foster. The bond market, which precipitated the yen's slide, may ultimately give Japan's authorities reason to hold off on pressing the intervention button.

Persons: Shunichi Suzuki, Suzuki, Aaron Hurd, Masayuki Kichikawa, Brent, Kichikawa, Shinichiro Kadota, Kevin Buckland, Saqib Iqbal Ahmed, Simon Cameron, Moore Organizations: Bank of Japan, Finance, State Street Global Advisors, Swiss, Brent, Sumitomo Mitsui DS Asset Management, Treasury, Barclays, Thomson Locations: TOKYO, United States, Tokyo, Boston, Japan

☆ Richard Hanania’s Racism Is Backed by Silicon Valley Billionaires - The New York Times
▼ + stars: | 2023-08-12 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +3 min

And it served its intended purpose: to naturalize inequality of status and resources in an era defined by its yawning gaps between haves and have-nots. I mention all of this as context for Richard Hanania, a rising star among conservative writers and intellectuals. For years before appearing in the pages of newspapers and publications like this one, Hanania wrote articles for white supremacist publications under a pseudonym. “The reason I’m the target of a cancellation effort is because left-wing journalists dislike anyone acknowledging statistical differences between races,” he recently wrote. But his supposedly transgressive views are little more than the warmed-over dogmas of the long-dead ideologues who believed in the scientific truth of race hierarchy.

Persons: “, ”, Nell Irvin Painter, Brigham, Adam Cohen, Carrie Buck, John D, Rockefeller, Edwin Black, ” eugenicists, Richard Hanania, Hanania, Christopher Mathias, ” Hanania, ideologues Organizations: White People, Poland, Northwestern, American Eugenics, Rockefeller Jr, The Huffington, Blacks, New, ” Locations: Russia, Italy, “, New York City

☆ Russia’s Moves to Shore Up Ruble Reflect War’s Toll on Economy
▼ + stars: | 2023-08-10 | by ( Anatoly Kurmanaev | ) www.nytimes.com time to read: +4 min

The Russian currency fell nearly 25 percent since the beginning of the year. “The ruble exchange rate is only an indicator,” said Alexandra Prokopenko, a nonresident scholar at the Carnegie Russia Eurasia Center and a former Russian central bank official. The ruble plummeted to as low as 135 per dollar and the central bank took a series of dramatic measures, including capital controls, to stave off a full-blown meltdown. The most immediate concern for Russian financial policymakers is the possibility of significant inflation. The country’s central bank reacted to that risk late last month with a higher-than-expected rise in interest rates, to 8.5 percent.

Persons: ”, Alexandra Prokopenko, Vladimir V, Putin, Yevgeny V Organizations: Bank of Russia, Carnegie Russia Eurasia Center Locations: Moscow, Russia, Russian, Ukraine, Soviet Union

In the two months since hedge funds began bailing on their record net short position in S&P 500 futures their equity returns have accelerated, narrowing the yawning year-to-date underperformance versus the broader market. Against that backdrop, perhaps not, although the weekly momentum on funds' S&P 500 futures positioning is the most bullish since December 2021. Reuters ImageReuters ImageReuters ImageThe latest CFTC figures show that hedge funds' net short position in e-mini S&P 500 futures at the end of July was around 200,000 contracts, the smallest net short since March. Just two months ago, at the end of May, funds were net short to the tune of 434,000 contracts, the largest net short position on record since these contracts were launched in 1997. If equity strategy-based hedge funds are slowly turning their poor 2023 performance around, their macro fund peers continue to struggle.

Persons: Brendan McDermid, Jamie McGeever, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, HFRI, Futures, Reuters, CFTC, ICE, Thomson Locations: New York City, U.S, ORLANDO, Florida

☆ A Tiny Gap Reveals a Yawning One for the U.S. Women’s Team
▼ + stars: | 2023-08-07 | by ( Rory Smith | More About Rory Smith | ) www.nytimes.com time to read: +1 min

That solace, though, is an illusion, and so too is the idea that the United States was eliminated by a millimeter. There is a certain irony in the fact that it was against Sweden that the United States, so limp and insipid earlier in the tournament, started to show signs of life. There were glimpses, in Melbourne, Australia, of what this team might one day be. The United States was only in position to be knocked out by Sweden because it had failed to beat both the Netherlands and — more troubling — Portugal in the group stage. The United States, the two-time reigning champion and pretournament favorite and great superpower of women’s soccer, won only one game in Australia and New Zealand, and that was against Vietnam.

Persons: Naomi Girma, Lindsey Horan, Sophia Smith, Trinity Rodman, Lynn Williams Locations: United States, Sweden, Melbourne, Australia, Netherlands, Portugal, New Zealand, Vietnam, Sydney

☆ Trump's growing list of indictments is the biggest political storyline of a generation — but does anyone care?
▼ + stars: | 2023-08-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

But as the arraignment played out on Thursday, it felt like we had all been there before. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Trump was arraigned on Thursday over charges related to efforts to overturn the results of the 2020 election. But compared to his two impeachments and the made-for-TV Capitol riot hearings — all of which accused Trump of serious wrongdoing — the most recent indictment and arraignment felt largely humdrum. But in this case, he's a former president charged with trying to change the outcome of an unfavorable election.

Persons: Trump, Donald Trump, he's, John Lauro, Biden, Charlie Savage, yawning, homed, Martha MacCallum, Andrew McCarthy, we've, Joe Biden Organizations: Service, White, Capitol, Trump, CNN, Truth, Justice Department, New York Times, Fox News, GOP, Monmouth University Locations: Wall, Silicon, Manhattan, Georgia

☆ Insight: BOJ makes bold shift as yen risks grow too big to ignore
▼ + stars: | 2023-08-03 | by ( Leika Kihara | ) www.reuters.com time to read: +9 min

The BOJ's decision shook markets on Friday and contrasted sharply with Ueda's more cautious comments in recent months about the dangers of retreating too quickly from accommodative Kuroda-era policies. "There's also a small but probable risk of inflation overshooting in Japan, which gave the BOJ reason to act." NEW PRIORITIESThe BOJ's policy decision last week signalled to investors that it would now allow the 10-year government bond yield to move closer to 1% before it intervenes. 'BIT BY BIT'The shift in thinking gained momentum at the BOJ's June policy meeting, but not enough to turn the tide. It was a test case, or a preliminary exercise, toward future policy normalisation," said former BOJ board member Takahide Kiuchi.

Persons: Issei Kato, Kazuo Ueda, Haruhiko Kuroda, Fumio, accommodative Kuroda, Ueda, YCC, There's, Hirokazu Matsuno, Seiji Adachi, Asahi Noguchi, Ryozo Himino, Shinichi Uchida, Uchida, Masato Kanda, Kanda, Takahide, Leika Kihara, Takaya Yamaguchi, Takahiko Wada, Kentaro Sugiyama, Yoshifumi, Sam Holmes Organizations: Bank of Japan, REUTERS, TOKYO, Bank, Ueda, Reuters, BIT, Asahi, Nikkei, Thomson Locations: Tokyo, Japan

☆ BP appeal requires more than short-term sweeteners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.

Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, ’, George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India

☆ At the Roosevelt Library, an Unflinching Look at Race
▼ + stars: | 2023-08-01 | by ( Jennifer Schuessler | More About Jennifer Schuessler | ) www.nytimes.com time to read: +1 min

In October 1935, President Franklin D. Roosevelt had his administration send letters to thousands of clergy across the country, asking if the New Deal was helping their communities. Ellis, a Black pastor in Hot Springs, Ark., wrote, “especially as it relates to the Negro group.” J.W. The New Deal, more than one newspaper proclaimed, was also a “Raw Deal.”Eight decades later, that charge still hangs in the air. Conservatives have long assailed the New Deal, which radically expanded the government’s involvement in the economy, as the epitome of big-government overreach. But in recent years, progressives have increasingly argued that this pillar of 20th-century liberalism rested on a Jim Crow foundation, and laid the groundwork for the yawning Black wealth gap that persists today.

Persons: Franklin D, Roosevelt, J.H, Ellis, J.W, Hairston, Jim Crow Organizations: Conservatives Locations: Hot Springs, Asheville, N.C

☆ Nobody Ever Read American Literature Like This Guy Did
▼ + stars: | 2023-07-29 | by ( A.O. Scott | More About A.O. Scott | ) www.nytimes.com time to read: +1 min

It has been a hundred years since D.H. Lawrence published “Studies in Classic American Literature,” and in the annals of literary criticism the book may still claim the widest discrepancy between title and content. Not with respect to subject matter: As advertised, this compact volume consists of essays on canonical American authors of the 18th and 19th centuries — a familiar gathering of dead white men. Some (Nathaniel Hawthorne, Herman Melville, Walt Whitman) are still household names more than a century later, while others (Hector St. John de Crèvecoeur, Richard Henry Dana Jr.) have faded into relative obscurity. My point is that nobody ever read them like Lawrence did — as madly, as wildly or as insightfully. “Studies in Classic American Literature” is as dull a phrase as any committee of professors could devise.

Persons: Lawrence, Nathaniel Hawthorne, Herman Melville, Walt Whitman, Hector St, John de Crèvecoeur, Richard Henry Dana Jr, Melville’s, Moby, Dick, ”, Farmer ”, — Organizations: “

REUTERS/Dado Ruvic/IllustrationORLANDO, Florida, July 26 (Reuters) - Remember the U.S. twin deficits? The dollar did fall - around 40% between the dotcom bust and the global financial crisis - and the twin deficits were a factor. Indeed, when the twin deficits really exploded in 2008 as the government and Fed fought to prevent another Great Depression, the dollar actually rose 25%. "Twin deficits are inherently unsustainable – for Treasuries and the dollar - unless there is a shift towards a deflationary environment that stimulates demand for sovereign debt instruments," Costa said. Persistently wide twin deficits will test the appetite to use the dollar as the savings currency of choice for investors and countries around the world.

Persons: Dado Ruvic, Mark Carney, Tavi, Costa, Meera Chandan, Octavia Popescu, Bill, Jamie McGeever, Tomasz Janowski Organizations: REUTERS, Fed, Reuters, Bank of England, Crescat, Treasuries, United, Office, Thomson Locations: ORLANDO , Florida, U.S, Britain, United States, Americas, Washington

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