dChan
Anonymous ID: 29011c May 13, 2020, 8:20 a.m. No.9154409   🗄️.is đź”—kun   >>4686 >>4715 >>4845 >>4853 >>4899 >>4900

Powell: Fed not looking at negative rates

 

Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an “extended period” of weak growth and stagnant incomes, pledged to use more Fed power as needed, and issued a call for more fiscal spending. Unprecedented monetary and fiscal stimulus actions as well as hopes of an economic recovery have been vital in helping the three main U.S. stock indexes climb about 30% from their March lows.

 

However, the rally paused this week as a spike in cases in Germany, South Korea and China and a warning from a top U.S. health expert spurred worries of a second wave of coronavirus infections as lockdowns are slowly lifted in several countries. Energy, financials and industrials posted some of the steepest percentage losses among the 11 major S&P sectors. Strength in AMZN, Apple Inc and Nvidia Corp propped up the tech-heavy Nasdaq.

https://www.reuters.com/article/us-usa-fed-instantview/powell-fed-not-looking-at-negative-rates-idUSKBN22P22M

https://www.marketwatch.com/investing/bond/tmubmusd10y

https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart

https://www.marketwatch.com/investing/index/dxy

 

Of course they are not "looking" at negative rates however if you adjust for real inflation we've had it for several years

and since they have now started buying ETF's it is only a matter of time before the 10 yr slides below the recent lows of the intra-day print of just below .50%-the daily print low was .56% made on March 9th.

 

oil did not like the "surprise" comments from the FED either-Cap#3

 

Gold had it's usual raid and then right back up-Cap#4-the longer it stays above $1700 the moar attention it gets. Silver went "meh.."

Dollar ramped too- Cap#5

Anonymous ID: 29011c May 13, 2020, 8:27 a.m. No.9154516   🗄️.is đź”—kun

>>9153895 pb NEW DJT

 

Wall Street bonuses set to fall by as much as 30% in 2020

 

Wall Street bonuses for 2020 could fall by as much as 25%-30% due to the deep cuts to revenues recorded by banks and hedge funds earlier this year as a result of the novel coronavirus, according to a report published Wednesday by compensation consulting firm Johnson Associates Inc.

 

While most compensation is expected to be down, 2020 is likely to be a year with “wide, wide variations in incentive outcomes between stronger and weaker competitors,” according to the report by Alan Johnson, whose predictions are closely watched by financial professionals.

 

The outbreak of the novel coronavirus has led to widespread shutdowns in the U.S. economy, causing gross domestic product to decline at a 4.8% annualized rate in the first quarter and forcing some 33.5 million Americans to file for unemployment benefits.

 

For Wall Street professionals, most of whom are working from home, bonuses make up a significant percentage of their annual pay, and many have been fearing big cuts. Workers in the commercial and retail divisions of many large banks could see the largest year-over-year declines in their incentive pay of up to 30%, as those banks have had to set aside billions for loans that could potentially go bad in this economy.

 

Investment bankers in advisory roles could receive 20%-25% cuts to incentive pay, while their investment bank colleagues who work in underwriting would see smaller declines of 10%-15%. Johnson writes that this is because investment banking advisory revenues were down in the first quarter of the year, with most deals stalled, while debt underwriting flourished as corporations sought to build up their cash.

 

The report also finds that asset managers could receive 20%-25% reductions in bonuses, while hedge fund workers could see 15%-20% declines.

https://www.reuters.com/article/us-health-coronavirus-banks-bonuses/wall-street-bonuses-set-to-fall-by-as-much-as-30-in-2020-report-idUSKBN22P2AD

 

they should get NOTHING and like it..that they still are employed is the only "Bonus" they deserve.