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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

Federal Reserve Alert! Federal Reserve Board releases results of annual bank stress test, which according to the Fed shows that banks continue to have 'strong capital levels'

Source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20220623a.htm The Federal Reserve Board on Thursday released the results of its annual bank stress test, which showed that banks continue to have strong capital levels, allowing them to continue lending to households and businesses during a severe recession. All banks tested

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

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

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

SEC Alert! Brokerage firm sold $13.3 million worth of high-risk bonds to retirees and other retail investors. Maybe they should make a meme video for educating these firms

Brokerage firm sold $13.3 million worth of high-risk bonds to retirees and other retail investors. Maybe they should make a meme video for educating these firms, they clearly do not know the rules they are supposed to be operating by and are harming retirees and retail. Reddit Post

FICC - MBS Alert! IN informing clients of the TMPG fail charge rate change based on the Fed's adjustment

Why does the TMPG recommend a financial charge on settlement fails? Persistent elevated fail levels create market inefficiencies, increase credit risk for market participants and heighten overall systemic risk. In higher rate environments, the time value of money that is lost when delivery is not made as contracted provides an