Per the Bloomberg summary, Fed officials are saying that they’re in no hurry to cut rates.
The CBO is saying that the surge in immigration will improve the US economy by ~$7 trn over the next decade, given more workers and increased demand.
The FT has an interesting piece about our job market here in the US. Employees think they are in the driver’s seat (that was so 2021). In reality, employers are calling the shots. Given the number of job cuts publicized lately, it seems right. Also, Bloomberg has a story about job recruiters reporting a sharp slowdown in pay for new hires.
Apple’s Vision Pro is on sale for >$5k in some intl markets due to a limited release.
Yesterday’s 10-yr UST auction went off fine, with solid demand, per Bloomberg.
China’s consumer prices fell at the fastest pace since 2009 in Jan. Imagine that here?! PPI fell for a 16th straight month. So, they’re hurting. A push for more policy support is getting louder, as demand stalls. The state stepped in with some buying, so markets are up, per the FT. Given the holiday, they can’t let the entire country be bummed out.
The BOJ is cautioning that they’re not going to act like the Fed and keep raising rates each session once they end their negative rate regime. Markets increased. Folks are excited.
German residential real estate is reeling. They had the sharpest drop in 60 years in 2023, per the Kiel Institute for the World Econ. No one wants to be making records on that front, unless you have a pile of cash and are bargain hunting. Bloomberg has a story about rising distress signals over there which are flags for the future.
JPM says we should ask ourselves, “Who’s the incremental seller?” versus “Who’s the incremental buyer?”…and notes how folks are sticking in the market.
Per Schwab, youngins…
BBG is out with a piece on Musk and the debacle at Twitter (X). Nothing surprising except for how fast he ran the company into the ground because of a lack of social emotional intelligence.