Is the Federal Reserve There Yet?; British Bourse Buckles as Well; The Danger of Thinking Outside of the Box??? Voice Box That Is

  • by:
  • 08/21/2022

Is the Federal Reserve There Yet?  (YahooFinance)

It???s official; U.S. Federal Reserve Chairman Ben Bernanke told reporters yesterday that the government???s quantitative-easing stimulus program would end by mid-2014. Markets worldwide dipped with emerging markets taking the brunt of the blow as evidenced by the MSCI Emerging Markets index slumping more than 3.3 percent. On average, global stock prices fell some 1.9 percent and were followed by a further drop in the U.S. market. As expected, bond prices reacted with gains, led by South Africa???s 10-year yields spiking a half a percentage point in a single day. All in all, the market and investors behaved as expected after the announcement.  Now, all that remains to be seen is how individual economies around the world react. We are at the start of what should be an interesting summer.

British Bourse Buckles as Well (Reuters)

A number of companies on England???s FTSE 100 took the Fed???s news yesterday by dropping to five-month lows earlier today. This news was compounded by data from China indicating that growth of the world???s second-largest economy would continue to wane. While neither announcement was unexpected, certain sectors responded more strongly than anticipated. Precious metals, especially with mining stocks on the FTSE, for example, tumbled some 4.2 percent earlier today. Leading the way is gold-mining company Ranglold which has given back more than 7 percent as of this writing for a total of 28 percent on the year. Industry giants Rio Tinto and BHP Billiton were down more than 4 percent.  Investors will need to keep a close eye on how this news affects economies already in trouble.

The Danger of Thinking Outside of the Box??? Voice Box That Is (Bloomberg)

George Zimmer was fired yesterday after 40 years of leading the company he started: Men???s Wearhouse, Inc. Even if you don???t know the man by name, you certainly know his voice. It has provided the iconic, gravelly foundation for years of advertisements. While it is unclear whether his ???You???re going to like the way you look, I guarantee it??? catchphrase will remain a part of the company???s marketing, what is clear is that his ouster removes a huge roadblock for CEO Douglas Ewert???s plans for the company. Ewert and Zimmer clashed repeatedly about the CEO???s desire for a share buyback program and selling K&G, another brand under the Men???s Wearhouse name. Now, with Zimmer gone, investors will need to remain more alert than ever to a big move from the com

Image:
ADVERTISEMENT

Opinion

View All

'Girls' soccer team with FIVE trans players destroys team of actual girls 10-0 in Australia

Flying Batts FC won the pre-season Beryl Ackroyd Cup in Sydney, during which they won every game they...

JACK POSOBIEC: The government goes after MAGA and Trump while pedophilia in Hollywood is 'perfectly fine'

"Why would Nickelodeon employ people who had been already convicted of child sex abuse?"...

UK medical body claims preventing teachers from 'affirming' child sex change will 'cause distress' to students

The medical body told the UK Department of Education it does not think parents should always know if ...

Evan Gershkovich's detention in Russia extended over espionage allegations

The US ambassador to Russia, Lynne Tracy, maintained that "the accusations against Evan are categoric...