SFLA News and Press, Barclays Bank PLC From 08/08/21

Up until the last decade, negative interest rates were the stuff of abstract theory. Today, the volume of fixed-income securities trading with yields below zero runs to $16.5 trillion, having grown steadily over the past two months with the renewed rally in global bond prices. Expecta...

If you are looking for a snapshot as to why there is so much to this “growth scare” and rising deflationary potential (record stocks, though), outside recent labor market data you’d be hard-pressed to do better than US trade statistics. We can see already the disc...

The past week has been a story of stagflation infecting the US economy while the stock market grimaces as the Fed expresses the need to start a gradual pullout from economic stimulus much sooner or face a rapid pullout a little later. Rapid inflation pounds away at the producer side i...

Initial claims for regular state unemployment insurance totaled 385,000 for the week ending July 31, a drop of 14,000 from the previous week’s revised tally of 399,000. The number of ongoing claims for state unemployment programs totaled 3.259 million for the week ending July 1...

The ISM’s Non-manufacturing PMI rose sharply in July 2021, four big points, up to 64.1 and handily beating estimates. This was in opposition to the slowdown trend which Manufacturing ISM displayed only too well two days ago. Though, the ADP release corroborates the sense of another...

While it did not get a lot of attention, Congress failed to increase the debt ceiling this past weekend. We have been told many, many times that, if they failed to increase the debt ceiling in the past, it would have serious negative repercussions for financial markets. It seems w...

The Commerce Department announced that sales of new homes declined 6.6% in June to an annual pace of 676,000, which is a post-pandemic monthly low. May’s new home sales were revised lower to an annual pace of 724,000, down from 769,000 previously reported. Durable goods orders ...

We see China’s regulatory crackdown that recently rattled markets likely to moderate, alongside a dovish shift in macro policy, for the near term. The Federal Reserve noted further progress in the economy as expected; we see a tapering of asset purchases unlikely to start befor...

There were stellar earnings reports last week, but the market was expecting those and sent shares of many of those companies lower. Federal Reserve Chair Powell spoke mid-week, and the market passed on its usual fireworks in response. While there has not been a 5% decline in marke...

Strategas Policy expert Dan Clifton takes us through the packed calendar for 2H21 in Washington. Dan hits on outlook and ramifications for infrastructure spend, tax hikes, inflation, debt ceiling, and more. More Americans are now worried about inflation than unemployment - a sea c...