News and Trends

June 30, 2016

Forget December. Forget Next Year. The Fed's Done Hiking Until 2018 - Bloomberg--6.28.16
Traders are now pricing in a greater probability that the Fed will cut rates in upcoming meetings instead of raising them. Many traders also believe the Fed won't even raise rates again until 2018.

Brexit vote, UK political confusion keep world markets on edge - Reuters--6.28.16
Despite any government attempts to relieve any confusion about the politics and economic outlook, Brexit implications will continue to reverberate throughout financial markets.

‘Brexit’ Is Locking In the Forces That Already Haunt the Global Economy - The New York Times--6.27.16
The Brexit vote is different that other economic ripples because this event accentuates and deepens global forces that have been building for years.

Why Brexit Really Is a Big Deal for the U.S. Economy - Time--6.27.16
The Brexit vote has already had a global impact and will be a big deal for the U.S. economy. Britain was the main channel that American used to express its economic and political will in Europe.

Brexit vote makes history, Cameron quits, markets rocked- Yahoo! Finance--6.24.16
As a majority of British voted decided the UK should leave the European Union, Prime Minister David Cameron announced his resignation causing markets across the globe to make big moves.

Brexit Backlash: Dow Falls 475 Points as Markets React - NBC News--6.24.16
The Dow Jones dropped more than 475 points on Friday as markets around the world react to the vote by citizens in the UK to leave the European Union.

Britain’s decision to leave the E.U. is a warning to America - The Washington Post--6.24.16
The situation in the U.K. will be unstable and uncertain for a long period of time causing investments to not take place, money not be spent and opportunities to not be created.

Harvard professor: Bank stress tests won’t save us from financial crisis - Yahoo! Finance--6.23.16
The Fed is set to release its first round of stress test results and one Harvard professor believes that these stress tests are not enough to avert financial crises.

National economic index drops sharply as factories slowed: Chicago Fed- Market Watch--6.23.16
One measure of national economic activity plunged in May mostly due to weaker manufacturing. Hiring and consumer spending also slowed in May, according to the Chicago Federal Reserve, showing another sign of economic inconsistency.

IMF downgrades outlook for US economy- CNBC--6.22.16
The International Monetary Fund is downgrading its forecast for the U.S. economy this year. The IMF is predicting 2.2 percent growth this year, down from 2.4 percent in 2015, and lower than the 2.4 percent growth it forecast in April for this year.

Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead- NY Times--6.21.16
Some of the nation's largest banks are increasingly using fingerprints, facial scans and other types of biometrics to safeguard accounts. These moves reflect concerns that e-mail addresses, phone numbers, social security numbers and other personal identifiers have fallen into the hands of criminals.

The global economy is coming to a crossroads - Business Insider--6.20.16
According to analysts at Barclays, "the next few weeks may well be the most important for the global economy since the fall of Lehman Brothers in 2008." A handful of upcoming events will decide whether gold rises or falls.

Don't Believe the Fed's Stress Tests - Bloomberg--6.20.16
This week the Fed plans on announce the results of stress tests that are aimed at ensuring major U.S. banks could weather a major crisis. However, according to one expert, the exercise still doesn't bear much relation to what actually happens in a crisis.

Global Economy Stuck in the Doldrums - Market Realist--6.17.16
According to one expert, investors should get used to living in a moderate growth world. This expert is predicting low global growth for a while due to a combination of factors including a sharp slowdown in China and a decline in oil prices.

Fed's warning: Economic hurdles to persist - USA Today--6.16.16
The Fed left interest rates unchanged and some policymakers predicted marked slower hikes in coming years. These slower hikes are due to sluggish economic growth that includes meager productivity gains, an aging labor force and a weak global economy.

China Smells 'Risk,' Dumps $126 Billion of US Stocks- Newsmax--6.16.16
The People's Bank of China's stash of American stocks has sank about $126 billion, 38 percent, from the end of July to March. This far outpaces selling by investors globally in that span.

Fed lacks vision on economy, 'overly data-dependent': El-Erian- CNBC--6.16.16
According to one economic advisor, "Federal Reserve policymakers 'don't have a vision' for where the U.S. economy is going." With a clean idea for the future of growth, the Fed has become "overly data dependant."

Go-slower approach prevails as Fed leaves interest rates unchanged- Market Watch--6.15.16
The Federal Reserve decided to leave interest rates unchanged and signaled it is likely to take an even slower approach on raising the cost of borrowing on slower job creation and global economic concerns.

June Rate Hike Not Looking Likely as Fed's Window Closes - US News--6.14.16
A disastrous employment report released at the beginning of June showed the economy only added 38,000 jobs and was very concerning for Fed chairwoman Janet Yellen who backed off her bullish assessment of economic conditions.

"News and commentaries posted at Swiss America does not necessarily express the opinions of Swiss America nor of its personnel. Swiss America attempts to post only credible news and opinions, however we do not take responsibility for the accuracy of external content nor should it be construed as an endorsement."

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