Chicago Fed: "Index suggests economic growth moderated in August"
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to a neutral value in August from +0.29 in July. Three of the four broad categories of indicators used to construct the index made positive contributions in August, but three categories deteriorated from July. The index’s three-month moving average, CFNAI-MA3, moved up to +0.01 in August from –0.08 in July
One Bitcoin Equals One Bitcoin Becomes the Narrative as the Drop Gets ‘Too Painful’
Virtual money, digital gold, inflation hedge, uncorrelated asset, store of value: those are phrases once used by Bitcoin’s fans to describe the cryptocurrency’s virtues. Its new narrative? A Bitcoin is a Bitcoin.
Guaranteed Lifetime Income Isn’t Free
Insurance protects against losses – fires, floods or a wrecked car. Because of the life-altering consequences of such as loss, clients rarely question the cost of the insurance. When viewed through an analogous framework, the cost of lifetime-income insurance, such as a GLWB, is fairly priced.
Why Investors Are Facing Even More Market Instability
Frequent flyers are accustomed to turbulence on some flights. Indeed, many expect it. Despite such anticipation, however, the turbulence can once in a while create significant anxiety among even the most seasoned travelers.
Wall Street Banks Prep for Grim China Scenarios Over Taiwan
Global financial firms, still smarting from multi-billion dollar losses in Russia, are now reassessing the risks of doing business in Greater China after an escalation of tensions over Taiwan.
GM’s Commitment to Electric Cars Still Has Skeptics
In a surprise move, General Motors Co. this week joined forces with the Environmental Defense Fund (EDF) to recommend tougher emissions rules for passenger vehicles. But skeptics remain unconvinced by the company’s professed commitment to going green, citing GM’s history of battling tougher fuel economy rules.
Fed Finally Vanquishes Stocks From Asset Allocation Throne
For years, asset allocators had it easy: Buy the biggest American tech companies and watch the returns rack up. Those days are gone, buried under a crush of central bank rate hikes that are rewriting the playbooks for investment managers across Wall Street.
The Strong Dollar Is About to Pay Some Dividends
In times like these, I’m reminded of Robert Rubin. The former US Treasury Secretary in the Clinton administration was unequivocal that a strong dollar was in the country’s best interests, and the government should be careful not to undermine trust in the currency.