Another one-notch downgrade of the banking industry’s score, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70 U.S. banks it covers, analyst Chris Wolfe said. https://t.co/X5tqDqNmCP
Supportive of the strong retail sales figure this am:
$AXP July loan growth was up 19.0% y/y in July and US consumer growth at 18.7% y/y. Importantly net write-offs up just 2bps m/m at 1.80% and 30+ day delinquency rate was flat at 1.12%.
We’ve been forgiving of prisoner swaps. But rewarding Iran with money for hostages amounts to financing its malign activities and encouraging it to take more American prisoners.
https://t.co/s9k0yppz3N
When I worked at Mitsubishi Int’l trading chemical commodities as a 25 year old we had to be there before our boss and couldn’t leave until after our boss left. And he couldn’t leave until his boss left. And so on. Japanese way at the time.
And so as the low person on the team, some nights I got home after midnight and back in pre-7am.
Sucked. Not gonna lie.
But made everything easier since then. Grind early.
"If you look at the data in consumer staple stocks that are supposed to be the strong ones--they got sold off," says @sarat_sethi. "I think the market today --I'm not sure we stop bleeding yet...having said that, I think companies are getting to be cheap."
BERNANKE, on #Bitcoin:
“.. it's a speculative asset. But it's-- it's one that-- whose underlying use value-- gold has underlying use value. You could use it to fill cavities. The underlying use value of-- of Bitcoin is to do ransomware or something like that.”
@CNBC
Inflation is on the rise, prompting people to change their shopping habits to keep up. Here’s where consumers plan to cut spending. https://t.co/5YCYOKoUSC #investinyou (In partnership with @acorns.)
President Joe Biden's administration is dramatically curtailing U.S. public land available for new oil and gas development as it seeks to impose more environmental protections and financial limitations on the activity (via @climate) https://t.co/J6SzoNLU4R