Via Lance Roberts of RealInvestmentAdvice.com,
I have a simple question…
If the rally in the market that began following the election was pricing in the expectations for tax reforms, repatriation, building the wall, and infrastructure spending, then what did the rally on Wednesday following Trump’s speech to Congress price in?
Via Mike Shedlock of MishTalk.com,
The Pension Benefit Guarantee Corporation (PBGC), an entity created to “guarantee” pensions of private corporations, is on the verge of bankruptcy.
Teamsters and other unions are poised to take huge pension hits. Previously, airline employees have taken a hit.
Please consider PBGC Running Out of Cash to Cover Union Pension Funds.
After years of listening to Bernanke and then Janet Yellen, it is no surprise that some have finally snapped, as Bank of Tokyo-Mitsubishi UFJ's Chris Rupkey appears to have done in his post-Yellen, post-mortem.
Breaking economy news. If you were looking for a signal that a Fed rate hike was imminent, you would be hard-pressed to find any urgency to respond with a Fed rate hike on March 15 in Fed Chair Yellen's Chicago speech today.
It's Friday, which means Wall Street is patiently waiting for what has become a novelty tradition in close of week trading: a late day ramp, starting around 3:30pm and picking up speed into the close.
Following unconfirmed sources earlier warning about a major capital raise for the world's most sysetmically dangerous bank, Bloomberg reports that Deutsche Bank AG is nearing a plan to boost capital by more than 10 billion euros ($10.6 billion) through an equity offering and the partial sale of its asset management unit, according to people with knowledge of the discussions.