By Ann Saphir and Dan Burns (Reuters) – An unexpectedly weak U.S. employment report, featuring a post-pandemic high in the jobless rate, has rekindled worries a recession may be in the offing that would dash the Federal Reserve’s hoped-for soft landing for the economy. With stock markets reeling on the premise the Fed has now …
US recession worries surge again. What is in the data? Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Spreads on U.S. interest rate swaps over Treasuries tightened or turned more negative on Monday as long-term investors hedged their exposure in the swaps market to position for lower interest rates in a sign of concern over the sharp sell-off in stocks. In late trading, the spreads were …
By Karen Brettell NEW YORK (Reuters) -U.S. Treasury yields rebounded from one-year lows on Monday on greater optimism over the U.S. economy and a closely watched part of the yield curve reinverted, after briefly turning positive for the first time in two years. Yields tumbled earlier on Monday on recession fears, following an unexpected increase …
Yields rebound, curve inverts again after brief positive shift Read More »
By Manya Saini and Saeed Azhar (Reuters) -U.S. bank stocks slumped on Monday as fears of a recession sent investors fleeing from a sector closely tied to the health of the economy and toward safe-haven assets. The S&P 500 Banks Index, tracking a basket of large-cap bank stocks, was last down 2.4%, while the KBW …
US banks tumble as weak economic data sparks recession fears Read More »
(Reuters) -U.S. banks reported unchanged demand for commercial and industrial loans in the second quarter, the first time in two years that demand did not weaken, a Federal Reserve survey of senior loan officers published on Monday showed. Fed officials had the survey results in hand last week when they left the U.S. central …
US banks report best loan demand in 2 years, Fed survey shows Read More »
By Dietrich Knauth (Reuters) – Italian-American restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy protection on Monday, saying it intends to keep its current locations open despite a significant drop in sales, rising food and labor costs, and staffing challenges. Buca di Beppo is known for its large portions, family-style dining and “eclectic …
Restaurant chain Buca di Beppo files for bankruptcy Read More »
(Reuters) -Global stock markets tumbled on Monday at the start of another volatile week, as a so-far reasonably robust earnings season failed to offset fears of a U.S. recession and worries that stocks have become too pricey. Here is a look at what’s big in markets in the coming week, from Lewis Krauskopf in New …
Take Five: Global rate cuts? We’re halfway there Read More »
By Dan Burns (Reuters) – The disappointing U.S. employment report for July unleashed a “Freakout Friday” moment in financial markets and triggered a wholesale resetting of expectations for how much the Federal Reserve might cut interest rates next month. There was much to grimace about in the Bureau of Labor Statistics report card on the …
Four reasons to take a breath after the U.S. jobs report Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. unemployment rate jumped to near a three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable to a recession. The increase in the unemployment rate from 4.1% in June marked the fourth …
Sharp slowdown in US job growth boosts unemployment rate to 4.3% Read More »
NAIROBI (Reuters) – Ethiopia will save $4.9 billion from its debt restructuring exercise, State Finance Minister Eyob Tekalign said on Friday. The East African country is putting its long-delayed debt overhaul back on track after securing a new International Monetary Fund financing programme. “It is captured fully in the OCC (Official Creditor Committee) working paper. …
Ethiopia to save $4.9 billion from debt restructuring, says state finance minister Read More »
