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☆ Mexico inflation below forecasts in December, core inflation cools
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Jan 9 (Reuters) - Mexico's headline inflation ended 2022 slightly below analysts' expectations, while core inflation finally appeared to have peaked, data from the national statistics agency showed on Monday. Annual headline inflation in December reached 7.82%, up moderately from 7.80% in November, but still below the record 8.70% reached in August and September. (MXCCPI=ECI)Economists polled by Reuters had expected annual headline inflation to come in at 7.86% and core inflation at 8.36%. On a monthly basis, core inflation was 0.65% in December. (MXCPIX=ECI)Meanwhile, monthly headline inflation was 0.38% in the period, according to non-seasonally adjusted figures.

☆ Dollar tentative as investors assess rate-hike path
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

That led the dollar index , which measures the U.S. dollar against six major currencies, 1.15% lower on Friday. On Monday, the index, which gained 8% in 2022, was 0.01% higher at 103.720. Analysts, however, point to the still tight labour market that is likely to concern Fed officials. With the next Fed meeting scheduled at the start of next month, investors will focus on the consumer price index data due on Thursday. The Australian dollar rose 0.17% versus the U.S. currency to $0.689, while the kiwi gained 0.02% to $0.635.

☆ Gold prices gain on hopes of smaller U.S. rate hikes
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices advanced to an eight-month high on Monday, as a weaker dollar made greenback-priced bullion cheaper for overseas buyers while hopes of less-aggressive U.S. rate hikes also lifted sentiment. Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday.

☆ Gold scales 8-month high as Fed slowdown prospects lift appetite
▼ + stars: | 2023-01-09 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday. "This week's CPI data would be key.

☆ Has inflation finally peaked?
▼ + stars: | 2023-01-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But for investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022. The hope is that inflation pressures will cool even more dramatically as the year progresses. We believe inflation peaked in June,” said Nancy Tengler, CEO and chief investment officer with Laffer Tengler Investments, in a report. Inflation impact on the Fed and housingWhat’s more, lower levels of inflation should allow the Fed to keep slowing its pace of interest rate hikes. But if inflation pressures continue to abate – and the Fed acknowledges that by pulling back on rate hikes – then the housing market may rebound.

The government will give documents and evidence to Bankman-Fried’s lawyers in a process known as discovery. Prosecutors said on Tuesday that they have hundreds of thousands of documents with more on the way as they continue gathering evidence. Discovery can take months, particularly if disputes arise over what evidence the defense is entitled to see ahead of trial. Manhattan U.S. Attorney Damian Williams has said his office will continue to make announcements as its probe widens. Criminal defendants can change their plea at any time, and their lawyers often negotiate with prosecutors over a possible plea deal.

☆ It's been a bleak year for stocks. This is what investors can expect in 2023 — according to history
▼ + stars: | 2023-01-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A confluence of global factors has meant the MSCI World index of large and mid-cap stocks finished the year down by nearly 20 % . In January alone, after a year of negative returns, the index rose 60% of the time by an average of 4.6%. The S & P 500 since 1929 CNBC also analyzed the S & P 500 since 1929, which showed a similar picture. That will bring the S & P 500 down to 3,600 from its current level of around 3,800 points. As for the month of January, after a year of negative returns, the U.S. index performed very similarly to the MSCI World index.

☆ There's still time to get health insurance through the public exchange — and you may qualify for help paying premiums
▼ + stars: | 2023-01-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Anyone without health insurance has about two weeks left to get 2023 coverage through the public marketplace — and subsidies could make it affordable. Open enrollment for the federal health care exchange runs through Jan. 15, with coverage taking effect Feb. 1. Most marketplace enrollees — 13 million of 14.5 million in 2022 — qualify for federal subsidies (technically tax credits) to help pay premiums. For the most part, people who get insurance through the federal (or their state's) exchange are self-employed or don't have access to workplace insurance, or they don't qualify for Medicare or Medicaid. As of Dec. 15, nearly 11.5 million people had selected a plan through the marketplace, according to CMS.

☆ U.S. House committee releases Trump tax returns he sought to keep secret
▼ + stars: | 2022-12-30 | by ( Moira Warburton | ) www.reuters.com time to read: +5 min

[1/2] Donald Trump departs Trump Tower two days after FBI agents raided his Mar-a-Lago Palm Beach home, in New York City, New york, U.S., August 10, 2022. The nearly 6,000 pages of records include over 2,700 pages of personal returns from Trump and his wife Melania Trump, plus more than 3,000 pages of returns from his businesses. Trump, a businessman who held public office for the first time when he entered the White House in 2017, was the first presidential candidate in decades not to release his tax returns. Neal first requested the returns in 2019, arguing that Congress needed them to determine if legislation on presidential tax returns was warranted. Representative Kevin Brady, the House panel's top Republican, warned that future committee chairmen will have "nearly unlimited" power to make public the tax returns of private citizens, including "political enemies".

☆ The Mega Millions jackpot is $640 million. These are 4 key things to do if you actually win
▼ + stars: | 2022-12-30 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

That's the Mega Millions jackpot amount for the next drawing, set for Friday night. The top prize has been growing since Oct. 14 when it was reset to $20 million after two tickets — sold in Florida and California — matched all six numbers to split a $502 million jackpot. "People can lose tickets, and no ticket means no money." Build a team of advisorsWinning such a large amount of money means having some pretty weighty financial decisions to make. For this $640 million Mega Millions jackpot, the cash option — which most jackpot winners choose — is $328.3 million.

☆ Negative-Yielding Bonds Could Be Approaching Their Final Days
▼ + stars: | 2022-12-28 | by ( Matt Grossman | ) www.wsj.com time to read: 1 min

The Bank of Japan has held its benchmark interest rate below zero to stimulate growth, but rising prices are testing that strategy. Negative yields on government bonds look like they are about to ride off into the sunset. The worldwide sum of negative-yielding debt has almost completely evaporated, another effect of central bankers’ efforts to fight inflation around the world. It now stands at $271 billion, down from more than $18.4 trillion two years ago, according to Bloomberg index data accessed via FactSet.

☆ Consumers are getting payments from Equifax data breach settlement. Here’s what to expect if you filed a claim
▼ + stars: | 2022-12-28 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

As a result, consumers who were affected by the breach had the option of signing up for either up to $125 or free credit monitoring at all three of the largest credit reporting firms: Equifax, Experian and TransUnion . On Twitter, users have reported receiving small payments, with amounts ranging from $2.64 or $5.21 to $21.06 and $40.44. Additionally, although the initial deadline to file a claim was Jan. 22, 2020, consumers are still permitted to file a claim for expenses incurred after that date but before Jan. 22, 2024, due to the data breach. The best way is to "freeze" your credit report, Ulzheimer said. Freezing your report essentially blocks a lender from checking your report, which means a fraudster would be unable to open an account using your personal data.

☆ Fed's preferred inflation indicator rises slightly more than expected at 4.7%
▼ + stars: | 2022-12-23 | by ( Rick Santelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's preferred inflation indicator rises slightly more than expected at 4.7%CNBC's Rick Santelli joins 'Squawk Box' to break down the latest personal consumption expenditures price index data.

☆ Your Equifax settlement payment won't be $125 because too many people wanted the money
▼ + stars: | 2022-12-21 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +3 min

Equifax started sending out payments to people affected by its massive 2017 data breach. But, as consumers quickly realized, the settlement payments are way less than the expected $125 per consumer. People have gotten as little as $5.21 because of the sheer number of people who filed claims for the money. Equifax started distributing settlement payments Monday to US consumers whose data was breached as a part of the 2017 Equifax Data Breach. Equifax agreed to a $700 million settlement over the privacy breach, but $425 million of that was set aside to repay consumers as a restitution fund.

☆ Weaponizing Tax Returns
▼ + stars: | 2022-12-17 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Many norms have been broken in American politics in recent years, and one of them is the use of private tax returns as a political weapon. The trend is destructive, as a pair of events this week illustrate. The first is a useful lawsuit by hedge-fund manager Ken Griffin against the Internal Revenue Service seeking damages for the leak of his tax records to ProPublica. In June 2021 and in articles since, the left-wing website has published the confidential tax data of Mr. Griffin, who runs Citadel Securities, and other wealthy Americans.

☆ Mortgage rates drop for fifth week in a row
▼ + stars: | 2022-12-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates fell once again this week, dipping for the fifth straight week. But mortgage rates have tumbled in the last several weeks, following data that showed inflation may have finally reached its peak. The rate hike was already factored in to where mortgage rates are, but signaled more good news on inflation. Mortgage rates tend to track the yield on 10-year US Treasury bonds. Mortgage applications tick upFor people looking to buy a home, and homeowners wanting to sell, the retreat in mortgage rates over the past several weeks has been welcome.

☆ Billionaire Ken Griffin sues the IRS after his tax records were disclosed
▼ + stars: | 2022-12-13 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

ProPublica used IRS tax data provided by an anonymous source, and it's unclear how the data was obtained. Griffin reported an average income of $1.7 billion from 2013 to 2018, ProPublica said, citing his tax returns. Griffin was not listed as one of the billionaires who paid zero or low tax rates in any one year, and, in fact, the ProPublica tax information showed Griffin pays a higher effective tax rate than many top earners. The leaked tax returns sparked an uproar in Washington, which continues to escalate. "IRS employees deliberately stole the confidential tax returns of several hundred successful American business leaders," Griffin said in a statement.

☆ Treasury yields dip as investors look ahead to Fed meeting, key inflation data
▼ + stars: | 2022-12-12 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury note was down by just over two basis points to 3.5433%. The 2-year Treasury yield was almost flat and was last trading at 4.3294% after dipping by less than a basis point. U.S. Treasury yields fell slightly on Monday as investors awaited the start of the Federal Reserve's December meeting and consumer inflation figures due to be released this week. Investors are widely expecting officials to increase interest rates by 50 basis points, marginally slowing down the pace of rate hikes after four consecutive 75 basis point increases. Investors will be scanning the data for insights into whether the Fed's rate hikes have been effective in pushing back against rising prices.

☆ The Fed will raise rates again. But it’s playing with fire
▼ + stars: | 2022-12-11 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. The Fed bumped up rates by three-quarters of a percentage point in the past four meetings (June, July, September and November). The more widely watched Consumer Price Index data for November comes out Tuesday, just a day before the Fed announcement. Jones still thinks the Fed will raise rates by only half a point this week and may look to hike them just a quarter point in early 2023. It seems likely that the Fed will cut its GDP target and raise its expectations for the jobless rate and consumer prices.

☆ U.S. producer prices increase in November; trend slowing
▼ + stars: | 2022-12-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. "Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. However, the monthly increase in producer prices illustrates the need for continued tightening." A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November.

The major bourses in Europe also declined as concerns mounted about a global slowdown before a raft of major central bank rate decisions next week. The dollar gained against the euro, yen, British pound and Canadian dollar, among other major currencies. Treasury yields fell, but more at the long end of maturities than the short end, which deepened the inverted yield curve, a market indicator of a looming recession. The dollar rose as investors waited for next week's expected 50 basis points rate hike by the Fed. Euro zone government bond yields fell after two European Central Bank officials signaled inflation and rates may be close to peaking in the run-up to a raft of major central bank decisions.

☆ Dollar little changed after previous day's jump; investors look to Fed next week
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: +2 min

Data Monday showing that U.S. services industry activity unexpectedly picked up in November prompted speculation the Fed may lift interest rates more than recently projected. "There was a lot of price action yesterday, and we're just consolidating that," with the big focus on next week's Fed meeting. The euro was flat against the dollar at $1.0492, while the dollar was down 0.1% against the Japanese yen. European Central Bank policymaker Constantinos Herodotou said on Tuesday interest rates will go up again but are now "very near" their neutral level. The dollar was up 0.6% against the Canadian dollar ahead of the Bank of Canada's rate decision Wednesday.

☆ Bond Rally Drags 10-Year Treasury Yield Back Down to 3.5%
▼ + stars: | 2022-12-05 | by ( Sam Goldfarb | ) www.wsj.com time to read: 1 min

Hopes that inflation is easing have driven a weekslong rally in government bonds, pulling the 10-year U.S. Treasury yield back to 3.5% for the first time since September. Treasurys started rallying with stocks after the Labor Department released better-than-expected consumer-price index data on Nov. 10. That move was supercharged last week when Federal Reserve Chairman Jerome Powell sent the clearest signal yet that the central bank plans to raise short-term interest rates by half a percentage point at its Dec. 13-14 meeting, a step down from the 0.75 percentage point increases of the past four meetings.

☆ From turkeys to booze, prices for these 25 popular holiday expenses increased the most since last year
▼ + stars: | 2022-12-02 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

As the holiday season gets into full swing, expect some sticker shock. The cost of most holiday staples, such as turkey and booze, has increased dramatically in the last year. With year-over-year inflation up 7.7% overall, most items bought over the holidays have increased in price. The study identified 40 commonly purchased holiday items across four categories: gifts, experiences, travel and entertaining. As of October, the average American spends an extra $433 per month on expenses, compared with a year ago, according to an estimate from Moody's Analytics.

☆ New subvariants, family gatherings may bring more Covid-19 after holiday, but experts don’t expect severe surge
▼ + stars: | 2022-11-24 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Experts expect that Thanksgiving gatherings will stir up social networks and give new coronavirus subvariants fresh pockets of vulnerable people to infect. And we are concerned that after holiday gathering, lots of people coming together, that we may see increases in Covid-19 cases as well,” Dr. Rochelle Walensky, director of the US Centers for Disease Control and Prevention, said Tuesday on CNN. For the week ending Nov. 19, the CDC estimates that BQ.1 and BQ.1.1 were causing about half of all new Covid-19 cases in the US. Covid-19 cases, hospitalizations and deaths have remained flat for the past four weeks. “It’s probably got a bit more of a fitness advantage, so what we’re seeing is gradual replacement without a massive change in the total number of Covid-19 cases,” he said.

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