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Daily
100-year storm as market groups break below 50- and 200-day daily moving averages
1 - Hurricane Michael is ’100 year’ storm, Gov. Rick Scott warns
Hurricane Michael, which intensified into a Category 4 storm overnight, is expected to make landfall at that strength near Panama City later Wednesday. Forecasters said the…
Asian firm confidence at 3-year low as Singapore and India drive wealth gap
Below are my top twelve news stories for the day with added commentary.
1 - Asian firms’ confidence sinks to near 3-year low on trade war fears
Representing the six-month outlook of 104 firms, the Thomson Reuters/INSEAD Asian Business…
Income inequality as a sovereign rating input, Italy flouting EU fiscal rules
1 - Moody's: Widening income inequality will weigh on US credit profile
Rising income and wealth inequality is a key social consideration that will affect the credit profile of the United States (Aaa stable) through multiple rating factors,…
US situation: Conflict with China and Russia plus turmoil domestically
Conflict is the watchword for what I'm seeing in the US now. Though the US is settling trade disputes with allies, the tension internally and with geopolitical rivals Russia and China has increased.
In the case of China, I would look at…
Credit Writedowns Daily Newsletter 2018-10-03
There are a lot of different things on my radar screen right now. And below is the list of news items I want to touch on in that context.
As I've been saying recently, I'm fairly bullish on the US economy and US market despite shares being…
Italy stands out as a weak spot in yesterday’s bullish PMI and ISM data
There was a slew of PMI data released yesterday. And the ISM released it's manufacturing numbers for the US as well. Almost all of the data were bullish and supports the idea that this economic expansion has legs for the rest of 2018 and…
My thoughts on the global economy after a week away
I'm back!
Last week, I was on a hiking trip out in Arizona to Havasu Falls in one of the Canyons abutting the Grand Canyon National Park. It was an amazing experience that I would recommend to anyone. And it will probably rank as one of my…
Why the US upswing will endure and how this business cycle ends
I am sending this out to everyone on the distro today because I am going on vacation/holiday for the next week and I won't be near a computer for all of that time. There will be no Credit Writedowns posts all this next week!! So I want to…
US economic strength continues as yields begin to climb
Today's daily post will feature a number of articles on topics I think should be on your radar screen, with a few thoughts from me on each article. And I want to lead with the Department of Labor's 8:30am jobless claims release.
1 -…
Trump tariffs and doubling down on “Made in China 2025”
The trade war between the US and China is now in full bloom. And it's likely to escalate. My view here has been that China is more vulnerable in this bust-up than the US. Even so, I don't expect the Chinese to back down. On the contrary,…