News and Trends
Opinion: Households are plundering 401(k)s to survive the COVID-19 crisis- Market Watch--1.13.21
Large numbers of Americans are forced to tap into their retirement accounts to make ends meet during the last year, despite the federal government putting trillions of dollars into the economy to keep it afloat. 
Goldman Sachs’ chief economist warns a pullback for stocks could be coming soon- CNBC--1.13.21
Goldman Sachs Chief Economist Jan Hatzius says market valuations might stop moving "relentlessly higher." According to Hatzius, a pause could come as result of a renewed focus on the Fed tapering its stimulus program.
World Bank sees subdued recovery in 2021 and plenty of risk- AP News--1.5.21
The global economy will experience a subdued recovery this year, the World Bank predicted. The World Bank also warned that the near-term outlook is highly uncertain and growth could be imperiled if the coronavirus infections and delays in the vaccine rollout continue.
Is King Dollar About To Collapse?- Zero Hedge--1.5.21
The U.S. dollar declined nearly 7 percent (year over year) in 2020. The U.S. dollar weakness has been a tailwind for commodities and stocks alike. Look at 2021, the U.S. dollar is nearing another inflection point.
Dow, S&P 500 kick off 2021 with worst day in over two months, after touching record high - Market Watch--1.4.21
The Dow and S&P saw their steepest daily drop in almost 10 weeks as investors become concerned around the potential for borrowing costs to rise, the spread of COVID-19 and the slow pace of the vaccine rollout.
Congress scrambles to finalize Covid relief, avoid shutdown as deadline draws near- CNBC--12.17.20
Congress is scrambling to wrap up a coronavirus relief and government funding deal as shutdown deadline draws near. If lawmakers fail to act, the government will shut down and 12 million people will lose unemployment benefits the day after Christmas.
The dollar is on pace for its worst 4th-quarter performance in 17 years as vaccine roll-outs embolden investors- Business Insider--12.16.20
The dollar index is set for its biggest fourth-quarter slide since 2003, having lost 4% so far. Major investment banks, economists and asset managers are predicting further weakening of the currency.
Congress closes in on a $900 billion Covid relief deal as Americans await aid- CNBC--12.16.20
Congress is getting close to a $900 billion coronavirus relief deal and could announce something as soon as Wednesday. The government will shut down on Saturday and 12 million people will lose unemployment benefits the day after Christmas is Congress fails to act.
Fed vows to continue bond-buying stimulus until "substantial progress" is made toward full employment- USA Today--12.16.20
The Fed said on Wednesday it will continue its bond-buying stimulus "until substantial further progress has been made" towards its goals of full employment and 2% inflation.
Jobless claims fall 75,000 to 712,000 in Thanksgiving week, but layoffs still high - Market Watch--12.3.20
New applications for unemployment benefits fell in late November for the first time in three weeks, but new jobless claims remain high. A variety of indicators are pointing to a softening labor market.
Dollar falls to fresh 2-1/2-year low on U.S. stimulus bets - CNBC--12.3.20
The safe-haven dollar sank to a fresh 2-1/2-year low, pressured again by expectations of further fiscal stimulus for the United States.
Foreign Share Of US Debt Plunging; Fed Picking Up The Slack- Zero Hedge--12.1.20
Over the last year, the US government has borrowed over $4.2 trillion with the national debt now standing well above $27 trillion. The Fed is financing most of the bond-buying with money created out of thin air.
Euro beats U.S. dollar as most used currency globally - SWIFT- Kitco--11.19.20
The U.S. dollar lost to the euro as the number one currency used for global payments for the first time in nearly eight years, according to the Society for Worldwide Interbank Financial Telecommunications.
US jobless claims rise to 742,000; millions to lose aid- AP News--11.19.20
The number of Americans seeking unemployment aid rose last week to 742,000, the first increase in five weeks. This is a sign that the resurgent viral outbreak is likely slowing the economy and forcing more companies to cut jobs.
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