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☆ Opinion | Republicans Are Running Wild in My State
▼ + stars: | 2023-05-04 | by ( Frank Bruni | ) www.nytimes.com time to read: +1 min

Political colorists can be promiscuous in calling states purple, but my state is true to that hue. Donald Trump prevailed in North Carolina that same year, but only barely. Nearly 2.6 million North Carolinians declare themselves unaffiliated, while just over 2.4 million identify as Democrats and just under 2.2 million as Republicans. That’s a huge comedown from what Republicans wanted and from what they’ve repeatedly tried to get for nearly 15 years. Without any fear that the state’s Supreme Court will foil them before the 2024 congressional elections, they don’t have to settle for it.

☆ Argentina's economy teeters on the edge of deeper crisis as market anxiety grows
▼ + stars: | 2023-04-21 | by ( Gabriel Burin | ) www.reuters.com time to read: +3 min

BUENOS AIRES, April 21 (Reuters) - Argentina's economy will teeter on the edge of a deeper crisis in the run up to October's presidential vote as growing market anxiety adds to a harmful mix of drought-induced recession and skyrocketing inflation, a Reuters poll showed. Pointing to an increasingly negative outlook, the number of recession forecasts escalated to 27 of 32 respondents from just 7 of 23 in January. 3 economy into a crisis comparable to the chaotic periods of 1989-1990 and 2001-2002. For Mexico, growth prospects were slightly upgraded to 1.5% this year and 1.6% in 2024 from 1.0% and 1.8% in January - still well below the government's more optimistic scenario of a 3.0% expansion. Reporting by Gabriel Burin in Buenos Aires; Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Lawyers for Kroger said in a filing in California federal court that the grocery store shoppers who sued over the deal have failed to define the relevant market necessary to evaluate grocery store competition and to identify how the acquisition would hurt consumers. The attorneys said the lawsuit was lacking "real-world facts." U.S. competition law "does not turn every grocery store consumer in the country into a roving antitrust enforcer," lawyers for Kroger told U.S. District Judge Vince Chhabria. State antitrust enforcers also are looking at the deal. The case is Whalen v The Kroger Co, Albertsons Companies Inc et al, U.S. District Court, Northern District of California, No.

☆ Fed's Powell heads to Capitol Hill this week, and he's going to have his hands full
▼ + stars: | 2023-03-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

It was made worse by the Fed not recognizing it in 2021," said Komal Sri-Kumar, president of Sri-Kumar Global Strategies. "If you're going to have a no-landing scenario, then you're going to accept 5% inflation, and that's politically unacceptable. He has to work on bringing inflation down, and because the economy is so strong it's going to get delayed. 'Ongoing increases' aheadFor his part, Powell will have to find a landing spot between the competing views on policy. However, Guha said that Powell is unlikely to tee up the half-point, or 50 basis point, rate hike later this month that some investors fear.

☆ Teeter: Both sides of the 60-40 portfolio model still look compelling
▼ + stars: | 2023-03-01 | 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 EmailTeeter: Both sides of the 60-40 portfolio model still look compellingRobert Teeter of Silvercrest Asset Management says the market has done a pretty good job of digesting the "higher" part of higher interest rates, but is still coming to terms with the "longer" portion of that scenario.

☆ Grocery consumers sue to block Kroger’s $25 bln buy of Albertsons
▼ + stars: | 2023-02-03 | by ( Mike Scarcella | ) www.reuters.com time to read: +3 min

Kroger is the biggest grocer in the U.S. by revenue, and Albertsons is the second-largest supermarket chain. Nearly 5,000 grocery stores would be under one corporate umbrella if the deal, announced in October, goes through. A representative for Albertsons declined to comment on Friday, and a Kroger spokesperson did not immediately respond to a message seeking comment. Kroger operates stores under banners including Harris Teeter, Pay Less and King Soopers. U.S. antitrust law lets private consumers sue over proposed mergers and acquisitions, apart from any enforcement action brought by a state or federal agency policing competition laws.

☆ China aims to boost consumption and imports as global demand cools
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Jan 28 (Reuters) - China's cabinet said on Saturday it would promote a consumption recovery as the major driver of the economy and boost imports, state broadcaster CCTV reported, at a time of cooling global demand as major economies teeter on the brink of recession. It also discussed measures to support farmers to start spring planting, including subsidies for soybean sowing, CCTV reported. But they said households were likely to be moderate in releasing pent-up demand. Chinese exports shrank sharply in December as global demand cooled, but a more modest decline in imports led economic analysts to forecast a slow recovery in domestic demand in the coming months. Growth is expected to rebound to 4.9% in 2023, before steadying in 2024, according to a Reuters poll of economists.

☆ Jury convicts Kansas man of threatening to kill congressman
▼ + stars: | 2023-01-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

Jurors found Chase Neill, 32, of Lawrence, guilty of a single count of threatening a U.S. government official. The judge had Neill give his testimony Thursday as a narrative from the witness stand because he was representing himself. Neill admitted in court that he left the June 5 voicemail and others with more death threats the next day. Hunting told jurors that it was reasonable for LaTurner and his staff to take Neill’s words seriously as threats. “I’m really trying to explain how I interact with God, and it’s a difficult explanation,” Neill told jurors during his testimony Thursday.

☆ The case for investing in China's reopening is strong. Here's how to proceed with caution
▼ + stars: | 2023-01-19 | by ( Patti Domm | In | ) www.cnbc.com time to read: +11 min

Strategists see China's markets easily scoring double-digit gains this year. The case for investing outside the U.S. is strong, particularly with the dollar coming off its highs and looking at further downside. "While China's reopening is undoubtedly a turning point, there remain reasons to be cautious," wrote Barclays equity strategists. But still the prospects for China's economy are much brighter than they were just several months ago. The Covid lockdown has been so damaging to the Chinese economy, they want to get back to a growth path in 2023."

☆ Stock sentiment is positive despite lousy headlines
▼ + stars: | 2023-01-09 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —It’s only early January, but so far in 2023 the pendulum on Wall Street has swung (to paraphrase Billy Joel) from sadness to euphoria. But why is there such optimism on Wall Street all of a sudden? But it also showed the pace of job growth is slowing — and that could be a precursor to an eventual recession. But Wall Street is a funny place: Good news is often viewed as a bad sign, and vice versa. As long as the Fed can get inflation under control, investors might not be too concerned by a recession anyway.

☆ Teeter: The recipe is there for modest gains on the year
▼ + stars: | 2023-01-03 | 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 EmailTeeter: The recipe is there for modest gains on the yearRobert Teeter, Head of the Investment Policy & Strategy Group at Silvercrest Asset Management, joins Worldwide Exchange to discuss the markets.

Last year, the nation’s largest LGBTQ advocacy organization, the Human Rights Campaign, labeled 2021 the “worst year” for LGBTQ rights in modern U.S. history, citing a record number of anti-LGBTQ bills introduced in state legislatures across the country. “The LGBTQ+ community is really under siege right now,” said Ricardo Martinez, CEO of LGBTQ advocacy group Equality Texas. One bill that was successfully implemented, and gained national headlines for months, was Florida’s Parental Rights in Education law, or what critics have dubbed the “Don’t Say Gay” bill. The word “grooming” has long been associated with mischaracterizing LGBTQ people, particularly gay men and transgender women, as child sex abusers. Those losses came after some conservative groups ramped up misleading or inflammatory campaign ads targeting transgender rights.

Dec 25 (Reuters) - Russia's nuclear arsenal and the rules Moscow has laid out for its use are the only factors preventing the West from starting a war against Russia, a top ally of President Vladimir Putin said in an article published on Sunday. "Is the West ready to unleash a fully-fledged war against us, including a nuclear war, at the hands of Kyiv?" Putin and other senior officials have repeatedly said Russia's policy on nuclear weapons dictates they can be used if there is a threat to territorial integrity. Earlier this month, Putin said the risk of a nuclear war was rising, but insisted Russia had not "gone mad" and that it saw its own nuclear arsenal as a purely defensive deterrent. If Russia did not get the security guarantees it is demanding, he said, "The world will continue to teeter on the brink of World War Three and nuclear catastrophe.

"It's a knife edge between whether we're going to teeter into a recession or have a soft landing. said Brown who also noted that moves may be exaggerated as many investors take vacation around the end-of-year holidays. Declining issues outnumbered advancing ones on the NYSE by a 2.80-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners. The S&P 500 posted 5 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 66 new highs and 456 new lows. On U.S. exchanges 11.07 billion shares changed hands, compared with the 11.59 billion average for the last 20 trading days.

☆ Price Pressures Ease in U.S. and Europe, Businesses Say
▼ + stars: | 2022-12-16 | by ( Austen Hufford | Paul Hannon | ) www.wsj.com time to read: 1 min

Price pressures eased at the end of the year as central banks fought high inflation, businesses in the U.S. and Europe say, though the global economy continued to teeter with the possibility of a recession. Household demand for goods is weakening across the globe, and factories are cutting production in response. That has taken pressure off supply chains, leading to a downshift in price increases and slowing global trade.

☆ Morning Bid: Thank you, next
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

The U.S. central bank on Wednesday raised interest rates by half a percentage point after delivering four consecutive 75 bps hikes, but signalled more increases in borrowing costs by the end of 2023. With a looming recession on investors' minds there is a hint of scepticism on whether the Fed will follow through on rate hikes in the face of slowing growth. At about 4.9%, markets price a lower peak in the funds rate than the 5.1% median projection from Fed officials. Norges Bank and the Swiss National Bank are also expected to hike rates, with economists forecasting a 25 bp hike in Norway and a 50 bp hike in Switzerland. Reuters Graphics Reuters GraphicsThe country's central bank ramped up cash injections into the banking system and held interest rates unchanged on medium-term policy loans to keep liquidity conditions ample.

☆ Kroger and Albertsons would likely shutter stores as part of a planned merger. See if your local store is at risk.
▼ + stars: | 2022-12-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Kroger and Albertsons could sell or close stores if their $20 billion merger is approved. A map showing Kroger and Albertsons stores KrogerIn some ways, the companies' store networks complement each other. As part of the deal, Kroger and Albertsons have agreed to sell up to 650 stores. Eliminating stores in those locations is one way that Kroger and Albertsons could cut costs as a combined company, he added. In order to get federal approval for their merger, Albertsons and Safeway had to sell just under 150 to another grocery chain.

His children's school expenses are mostly covered by a charity and a portion of his medicine is subsidised by the state. Before, we used to plan for a month or a year or two ... now, we've lost that ability," he said. The government says it remains committed to implementing reforms that would pave the way for an IMF deal. While Lebanon had long relied on remittances, the flow has increased as some 200,000 people had emigrated since 2019, he said. Meanwhile, basic state functions are increasingly propped up by international donors seeking to prevent total state failure.

FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. A message on the FTX website said: "FTX is currently unable to process withdrawals. "The dagger will continue to hang over the crypto market, as long as the outlook of FTX's fate remains unclear." 'CONFIDENCE CRISIS'There are also early signs that the fallout could spread beyond crypto markets, with jittery stockmarkets sliding on Wall Street overnight. Most crypto players remain bullish about the long term, but are braced for further falls in the near future.

☆ What will the Fed do next? Follow the economy, not what Jerome Powell says
▼ + stars: | 2022-11-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But Fed Chair Jerome Powell dashed those hopes during his press conference when he talked about how the Fed is still extremely worried about inflation. Here’s the thing, though: Investors are paying way too much attention to what Powell and other Fed members are saying about the economy and not focusing enough on numbers that show how the economy is actually doing. So much can change and there is always a constant flood of new data (and new speeches from Fed policy makers) to digest and parse. Keep an eye on that data more than Fed speeches and volatile interest rates futures. And the fed funds rate futures are going to keep changing based on what the latest economic reports look like.

☆ Investors will reap billions if Kroger takes over Albertsons. Workers and shoppers may not be as happy.
▼ + stars: | 2022-11-05 | by ( Gretchen Morgenson | Gretchen Morgenson Is The Senior Financial Reporter For The Nbc News Investigative Unit. A Former Stockbroker | She Won The Pulitzer Prize In For Her | ) www.nbcnews.com time to read: +11 min

Wealthy investors in Safeway’s parent, Albertsons Companies, have done better. And next week, they were slated to reap a $4 billion cash dividend in connection with a proposed $25 billion takeover of Albertsons by rival Kroger. Based on that stake and the amount of the dividend, Cerberus stands to receive roughly $1 billion of the dividend payout. Six of Albertsons’ 14 directors who voted for the dividend are affiliated with the major investors. This is the last, best and final hope for a truly unionized chain.”Nervous about the pensionThe proposed $4 billion cash dividend is large by many measures.

☆ Teeter: Continued strength in the jobs market allows time for inflation numbers to improve
▼ + stars: | 2022-11-04 | 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 EmailTeeter: Continued strength in the jobs market allows time for inflation numbers to improveRobert Teeter, Managing Director and Head of the Investment Policy & Strategy Group at Silvercrest Asset Management, joins Worldwide Exchange to discuss how moves by the Federal Reserve are impacting the markets.

☆ Key inflation gauge for the Fed rose 0.5% in September, in line with expectations
▼ + stars: | 2022-10-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday. The core personal consumption expenditures price index increased 0.5% from the previous month and accelerated 5.1% over the past 12 months, the report showed. The monthly gain was in line with Dow Jones estimates, while the annual increase was slightly below the 5.2% forecast. Including food and energy, PCE inflation rose 0.3% for the month and 6.2% on a yearly basis, the same as in August. However, when adjusted for inflation, spending rose just 0.3%.

☆ Kanye West's antisemitic rants are the tip of a much longer spear
▼ + stars: | 2022-10-25 | by ( Tal Lavin | ) www.businessinsider.com time to read: +9 min

Recent comments by Kanye West, now known as Ye, echo ancient antisemitic tropes, writes Tal Lavin. Over on Instagram, where I'd posted a picture of me cuddling a goat, someone commented: "Kanye West was right about you people." But these sentiments are just the tip of a much longer spear. Ye's comments in particular echo a very long history of antisemitic tropes — tropes that have left a trail of blood in their wake. On "Drink Champs" Ye spit into the mic about the evils of the "Jewish media."

☆ Premarket stocks: The housing market is a mess, but this isn't 2008
▼ + stars: | 2022-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis. “We’ve had a time of a red-hot housing market all over the country,” Fed President Jerome Powell told me in September. “For the longer term what we need is supply and demand to get better aligned so that housing prices go up at a reasonable level…and people can afford houses again. “This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month. What’s next: Investors will next look to housing starts data next week as an indicator of where the housing market is headed.

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