📈 Macroeconomics 50 companies filed for bankruptcy in October, down from 61 in September, according to the latest S&P Global Market Intelligence data. So far, 561 companies sought bankruptcy protection, more than any year since 2010, except for 2020. 50 companies filed for bankruptcy in October Source: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-corporate-bankruptcies-slow-in-october-number-of-large-filings-rises-78294932October 2023 bankruptcyTLDRS:50 companies filed for bankruptcy in October, down from 61 in September. This was the second-lowest monthly total for the year so far, though still elevated compared to monthly filing totals for most of 2021 and 2022.So far, 561 companies sought bankruptcy protection, more than any year since 2010, except for 2020.Reddit PostTweet
Inflation Alert! Social Security Announces 3.2% Benefit Increase for 2024. Today, September CPI reported 3.7% over the past year. The increase eaten by inflation! Wut Mean? * Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024. * The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. Increased payments to approximately
Fed's Michael Barr: The rise in required capital is for activities that have generated outsized losses at large banks & areas where current rules have shortcomings. Highlights: * "Most of the banks represented in this room today—and the vast majority of banks in the country—would not be subject to the Board's recent "endgame" proposal on bank capital. The proposal affects only the very largest banks." * "The proposal is projected to raise capital for large banks.
Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead." Highlights: * "I am squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. I strongly agree with the point that Chair Powell has made often, which is that without price stability, the economy does not work for anyone. Price stability is crucial to
