Strategy Meets Finance Financial and Economic News: November 8, 2023
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Major stories developing on the global economic front, including:
- Big News For Bonds
- Why Are Stocks Mixed?
- Too Old To Work (But Too Young To Retire)
- Inflation: Are We Out Of The Woods?
- Bankman Won’t Be Freed
- Musk Prepares for Robot Surgery
Don’t miss our discussion on top stories in the world of finance: Bond markets challenge central banks' commitment to higher interest rates, with the Federal Reserve anticipated to make its first rate cut in June next year. Similar rate reductions are expected for the European Central Bank and the Bank of England before the end of 2024. Amidst these economic shifts, the stock markets are still volatile, and experts can’t seem to agree on why. Contrasting views from BlackRock and Morgan Stanley regarding the impact of rising interest rates and economic factors, underscore the current uncertainty. In addition, over 2 million more individuals have left the US workforce than initially projected, significantly impacting the labor market. Meanwhile, Neel Kashkari, the head of the Federal Reserve Bank of Minneapolis, advises caution in the ongoing inflation debate, stressing the importance of gathering more data before celebrating any success. Also on my radar: Sam Bankman-Fried, the founder of FTX, faces guilty verdicts on seven serious charges, including defrauding customers and involvement in securities and commodities fraud, as well as conspiracy to commit money laundering. And rounding off with some non-financial news, Elon Musk's Neuralink is pioneering groundbreaking brain surgery with help from a surgeon-assisted robot. Read more about what that means for the future of business (and healthcare) in the latest issue of FinWeekly.
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