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S&P Global Services Survey Alert! US economy slows sharply amid renewed downtrend in demand as PMI falls to 51.6 in June vs. 53.4 in May.

According to the survey, inflation is forcing consumers to cut back on goods (not services) and interest rates are causing concern of a recession Source (data collected June 13-22) Key findings: (any number over 50 signifies expansion and readings below that mark point to economic contraction) * Flash US PMI Composite

SEC Alert! SEC votes unanimously to finalize rule amendments to require the electronic filing of certain documents that previously were submitted on paper by investment advisers, institutional investment managers, and others.

Source: https://www.sec.gov/news/statement/gensler-statement-electronic-filing-requirements-062322 Today, the Commission voted unanimously to finalize rule amendments to require the electronic filing of certain documents that previously were submitted on paper by investment advisers, institutional investment managers, and others. The rule also updates the substance of quarterly reports on Form

SEC Alert! Commissioner Hester M. Peirce comments: Rip Current Rulemakings: Statement on the Regulatory Flexibility Agenda

Source Chair Gensler’s Regulatory Flexibility Agenda[1] for the Securities and Exchange Commission sets forth flawed goals and a flawed method for achieving them. The agenda, if enacted, risks setting off the regulatory version of a rip current—fast-moving currents flowing away from shore that can be fatal to

Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation. Summers said in a speech on Monday there needs to be a lasting period of an unemployment rise to contain inflation.

Source Source 2 Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation, which Federal Reserve policymakers say doesn’t need to happen for price growth to cool off. According to Bloomberg News, Summers said in a speech on Monday from

Housing Alert! According to the National Association of Realtors Existing-Home Sales Fell 3.4% in May; Median Sales Price Surpasses $400,000 for the First Time.

Source Highlights * Note that fewer homes are being sold but at higher prices: As you can see in the graph, sales of homes below $500k just really aren't happening! On the surface, this makes sense. 1st time buyers are getting squeezed out of the market due to rising

Fed looks 'dead set' on tightening financial conditions until the economy slows, warns BlackRock