Category: brakes
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USD moving higher as Powell taps the brakes on cuts
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The Fed chairman hit the brakes after saying that if all goes as planned, there will be two more cuts in 2024. Expectations for a 50 basis point cut fell to 36%. At one point last week, the forecast was around 60%. USDJPY: USDJPY rose to test and move above…
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Goldman’s Pasquariello: ‘It is now a good time to tap the brakes on equities’
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Deepblue4you/iStock via Getty Images Nasdaq Total Returns (NASDAQ:QQQM) During the first half of this year, it rose by 18%, while the S&P 500 (SP500) index gained by 35% since its lows in October. Additionally, since late April, stocks of major U.S. tech companies have risen 24%. But Goldman Sachs’ Tony…
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Auto insurance inflation set to tap on the brakes, BofA economist says (NYSE:TRV)
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Rising auto insurance premiums have been a notable driver of inflation in the past few months. In April, auto insurance jumped 22.6% from a year earlier, the largest increase since 1979, Stephen Juneau, an economist at Bank of America Securities, noted in a recent note. “This has been an increasing…
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Electric mobility has ‘won the race’ but Volkswagen hits brakes on EV strategy
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Volkswagen AG’s comprehensive electric vehicle plan no longer exists. VW’s namesake brand, which has made its ID family of electric vehicles a staple of its future, I confess Last week you’ll need more hybrid cars as electric car sales slow. This represents the latest tweak VW has made to its…