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THE ECONOMY & RECESSION
By Staff Reporters
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U.S. equities rose noticeably in the first trading session of the week following the new U.K. finance minister’s announcement that the government would abandon nearly all its tax cut plans. The moves came amid hopes of some stabilization in the global bond and currency markets which have seen increased volatility in the wake of the initial proposal.
Treasury yields traded mixed, while the U.S. dollar fell amid strength in both the British pound and the euro.
Crude oil prices nudged lower, and gold traded slightly higher.
Bank of America shares rose as the company eclipsed quarterly expectations on a jump in net interest income, while Q3 earnings season is set to kick into a higher gear this week.
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Economy: This party may be busted by the cops. A US recession is a 100% certainty within the next 12 months, according to Bloomberg’s economic model.
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Filed under: Alerts Sign-Up, Alternative Investments, Financial Planning, Investing | Tagged: BoA, crude oil, economy, equities, markets, oil, recession, treasuries |
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