For five years, governance reforms at the IMF have been stymied by the refusal of the US Congress to accept a new and higher quota (money) to the IMF.This has frustrated efforts to integrate the developing countries, especially the large ones, like China, better into the global economy.It may have also helped spur China to…
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The Department of Transportation’s Federal Highway Commission has released the latest report on Traffic Volume Trends, data through October. “Travel on all roads and streets changed by 2.4% (6.4 billion vehicle miles) for October 2015 as compared with October 2014.” The less volatile 12-month moving average was up 0.20% month-over-month and 3.35% year-over-year. If we factor in population growth,…
The US Dollar Index struck a 2-week peak following the Federal Reserve’s highly anticipated move of an increase in its benchmark lending rate. That was the first hike in rates in the US in nearly 10-years, and at 25 basis points could be the first of many. Some analysts, including those from Blackrock Securities, expect…
Long-beleaguered crude oil made an unexpected comeback this week with prices going north for the second consecutive day on Tuesday. The two global benchmarks, the Brent crude futures and the U.S. crude’s West Texas Intermediate (WTI) futures rose 1% and 3%, respectively. The upside is significant since only last week the commodity dropped to levels…
The Federal Reserve yesterday raised its target range for the Fed funds rate by 25 basis points to 0.25% to 0.50%–the first hike in nine years. The reasoning, as the Fed explained, is the “considerable improvement in labor market conditions this year” and the outlook for inflation “will rise, over the medium term, to its 2 percent…
Martin Shkreli, the chief executive of Turning Pharma and KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), has been arrested on securities fraud charges. He gained popularity in September when he raised the price of a life-saving drug called Daraprim by 5000% from $13.50 to $750. Shkreli was arrested this morning in New York, according to Bloomberg. However, the federal…
Martin Shkreli, the chief executive of Turning Pharma and KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), has been arrested on securities fraud charges. He gained popularity in September when he raised the price of a life-saving drug called Daraprim by 5000% from $13.50 to $750. Shkreli was arrested this morning in New York, according to Bloomberg. However, the federal…
The “long dollar” trade may be the most crowded ever… …but that doesn’t mean there aren’t disagreements where the greenback goes from here, especially after the Fed’s historic first rate hike which according to some means the end of the dollar’s tremendous year-plus long rally as the market starts to price in the next recession as…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 +0.29%) are up +0.30% and European stocks are up +2.87%, both at 1-week highs, after the Fed raised interest rates yesterday and pledged that further rate increases would be gradual. Strength in European automakers is leading European shares higher as EUR/USD fell to a 1-week low, which…
