March 18, 2024 | Daily JAM, Morning Briefing |
About 8.5% of credit card balances and 7.7% of auto loans moved into delinquency in the fourth quarter of 2023, the Federal Reserve Bank of New York reported last week. “Credit card and auto loan transitions into delinquency are still rising above pre-pandemic levels,” said Wilbert van der Klaauw, economic research advisor at the New York Fed. “This signals increased financial stress, especially among younger and lower-income households.” Total household debt increased by $212 billion last quarter to $17.5 trillion
December 15, 2022 | Daily JAM, Morning Briefing |
Yesterday, Fed chair Jerome Powell in his post-Fed-meeting press conference said that a recession in 2023 isn’t inevitable. Growth will stay positive next year, he continued, although “it’s not going to feel like a boom.” How much isn’t it going to feel like a boom? The Fed’s Dot Plot projections, updated for this meeting, predict 0.5% growth in U.S. GDP for 2023. That’s down from the 1.2% growth projected in the September Dot Plot. In 2024, the Fed said, growth will speed up to 1.6%, still not exactly a boom. In September the Fed projected 1.7% growth for 2024. And it will feel like a recession to many people.
April 28, 2020 | Daily JAM, Long Term, Morning Briefing |
As long as I can remember (which is only back about 40 years when it comes to the economy) the worry has been inflation. From the stagflation of the late 1970s, to Paul Volcker's brutal but successful assault on inflation in the early 1980s, to the seemingly endless...
October 4, 2019 | Daily JAM, Morning Briefing, Short Term |
This morning the Bureau of Labor Statistics reported that the economy added 136,000 jobs in September. And stocks rallied with the Standard & Poor's 500 closing the day up 1.10% to 2942.56 and the Dow Jones Industrial Average ending up 1.11%. The NASDAQ Composite...
October 26, 2018 | Daily JAM, Morning Briefing |
Real GDP (that is GDP discounting any gains from inflation) increased at an annualized rate of 3.5% in the third quarter. Economists surveyed by Briefing.com were looking for 3.3% growth rate. In the second quarter GDP grew at an annualized rate of 4.2%. Big driver in...
May 7, 2015 | Daily JAM, Mid Term, Volatility, You Might Have Missed |
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October 4, 2014 | Uncategorized |
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
March 11, 2014 | Daily JAM, Morning Briefing |
Slower than expected growth in Japan? A plunge in Chinese exports? The Russian occupation of the Crimea and worries about the dismemberment of the Ukraine? The Standard & Poor’s 500 has pulled back from record highs but we’re not talking about a big plunge here. As of 2:30 p.m. New York time today the S&P 500 was down just 0.42% to 1869.
January 15, 2014 | Daily JAM, Morning Briefing, Short Term |
Yesterday what the headlines are calling “solid” retail sales growth in December reassured investors and traders that the U.S. economy wasn’t about to slow down. And today we have new forecasts from the World Bank (echoing comments from the International Monetary Fund) for higher growth in the global economy in 2014.
January 14, 2014 | Daily JAM, Morning Briefing |
The good news in JPMorgan Chase’s fourth quarter earnings report today is that it was only as bad as expected. Revenue was down year over year, as expected, pretty much across the bank.
January 6, 2014 | Daily JAM, Morning Briefing |
A reminder today that financial markets in the U.S. and the rest of the world may have gotten a bit ahead of themselves recently in their optimism about economic growth for 2014. Projections for better than expected growth in the U.S. and EuroZone economies—and for stable growth in China—are just that, projections, today’s actual data demonstrates.
December 23, 2013 | Daily JAM, Morning Briefing, Short Term |
Good news on consumer spending in November, Apple’s (AAPL) iPhone deal with China Mobile (CHL), and an upgrade on U.S. economic prospects in 2014 from International Monetary Fund managing director Christine Lagarde pretty much guarantee that Santa will visit Wall Street this year. And just about on schedule