Trump tariffs get seal of approval as S&P affirms US credit rating
The credit rating company has affirmed its AA+ long-term rating for the US, in part because it thinks tariff revenues will reduce the fiscal hit of a recent tax and spending Bill.
S&P 500, Nasdaq hit record highs at open on September rate cut hopes
US Treasury Secretary told Bloomberg TV that rates should likely be 150-175 basis points lower. “We could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September,” he said.
US deficit grows to US$291 billion in July despite tariff revenue surge
THE US government’s budget deficit grew nearly 20 per cent in July to US$291 billion despite a nearly US$21 billion jump in customs duty collections from President Donald Trump’s tariffs
RBA cuts interest rates, signals more to come as inflation slows
Australia’s central bank cut interest rates on Tuesday (Aug 12) for a third time this year (by a quarter point to 3.6%) and signalled further policy easing might be needed to meet its inflation,
US inflation report shows deepening impact of Trump’s tariffs
But the July data showed more businesses reaching a tipping point, left with little option but to raise prices following June’s notable uptick.
China’s $14.1 trillion stock market is staging a quiet resurgence
“Funds with a high risk appetite are gradually increasing their allocations to stocks, against the backdrop of low interest rates, a lack of good investment options and a surplus of liquidity,”
China’s consumer inflation unchanged amid anti-price war campaign
A broad measure of prices across the economy, known as the gross domestic product deflator, has declined for nine straight quarters – its longest streak in decades.
US mortgage rates fall for a third week, hitting lowest since April
The average for 30-year, fixed loans was 6.63 per cent, down from 6.72 per cent last week, Freddie Mac said.
Trump signs order allowing alternative assets like cryptocurrencies, private equity in 401(k)s
Private market assets have traditionally been excluded from 401(k)s, even as they’ve been embraced by pension funds and university endowments, because their high fees, lack of transparency,
US dollar tumbles;traders bet on more US rate cuts after weak jobs report
A more dovish Fed would likely be negative for the US currency, even after it has appeared to find its footing in recent weeks following a rough first half of the year.
Japan expects only 1% to 2% of $550 billion US fund to be investment
The US$550 billion investment framework will be a combination of investments, loans and loan guarantees provided by financial institutions backed by the Japanese government
Bank of England rate cuts deliver £11 billion hit to households
Those reductions hit savers hard as banks and building societies were quick to respond by lowering rates paid on customer deposits.