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📈 Macroeconomics

OSFI’s Annual Risk Outlook - Semi-annual update

Canada's Financial System Regulator: "we now consider CRE to be a higher risk item" "Elevated inflation puts pressure on retail, corporate, & commercial borrowers' ability to service debt."

Today, Canada's Office of the Superintendent of Financial Institutions (OSFI) released its fall update to the April publication of its 2023-2024 Annual Risk Outlook. This semi-annual update prioritizes the most significant risks facing Canada’s financial system. It also provides an overview of its near-term guidance priorities for

Social Security Announces 3.2% Benefit Increase for 2024.

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

September Consumer Price Index Summary

Inflation Alert! The acceleration of inflation continues: CPI for all items rises 0.4% in September and rose 3.7% over the last 12 months.

The Consumer Price Index (CPI) rose by 0.4% in September from August. With month-to-month inflation continuing to grow, over the last 12 months, the all items index increased 3.7%. This is all on the heels of a red-hot August (.6% month-to-month, 3.7% year-over-year). Inflation is not slowing

Source: S&P Global Market Intelligence

S&P Global Market Intelligence: US corporate bankruptcies showed no signs of slowing in September, closing out the quarter with the most bankruptcies (62) so far in 2023.

"US corporate bankruptcies showed no signs of slowing in September, closing out the quarter with the most bankruptcies so far in 2023." "S&P Global Market Intelligence recorded 62 bankruptcy filings in September, bringing the third quarter's total to 182. September's total

Minutes of the Federal Open Market Committee

Minutes of the Federal Open Market Committee, September 19-20, 2023: A few participants observed that there were challenges in assessing the state of the economy because some data continued to be volatile & subject to large revisions.

Developments in Financial Markets and Open Market Operations The manager turned first to a review of developments in financial markets over the intermeeting period. U.S. data releases generally pointed to greater economic resilience than previously thought, and the reaction in market pricing implied both a higher expected trajectory for

Office of Financial Research

Office of Financial Research: Limiting Short Selling During Periods of Individual Stock Stress Reduces Volatility and Raises Prices

A working paper published today by the Office of Financial Research (OFR) finds that temporary short-selling restrictions, triggered by a sharp decline in a stock’s price, reduce market volatility and improve pricing and market liquidity. Despite strong predictions based on theories of disagreement, limited empirical evidence has linked short-selling

Periodic Report: Update on Bank Term Funding Program

As of 9/30/23 total outstanding amount of all advances from the liquidity fairy under the Bank Term Funding Program was $121,234,139,000. $2,645,685,000. in interest to survive another day...

Date Total amount outstanding Total pledged collateral Interest paid to survive another day 3/15 $11,942,528,000 $15,855,798,000 $662,000 3/31 $64,595,880,000 $79,569,489,000 $93,568,000 4/30 $83,061,693,000 $104,229,674,000 $369,957,