The slide in stocks comes as cracks starting forming in the credit market, where traders had been sanguine about the prospects for companies to repay debt. - A + A (Jan 25): Stocks slumped amid wild swings and a flood of trading activity, with investors seeking safety in Treasuries as the specter of a Federal Reserve policy mistake and mounting geopolitical tensions roiled markets around the globe. The S&P 500 headed toward its worst day since October 2020, while remaining about 10% below its record set just three weeks ago. Volume was more than 80% above the average of the past month. The Cboe Volatility Index soared toward its highest in a year. The Nasdaq 100’s latest beating pushed it down nearly 15% from an all-time high, while the Russell 2000 of small caps approached a bear market after plunging almost 20% from its peak. Haven currencies outperformed on concern over potential Russian military action against Ukraine. Traders remain resolute in … [Read more...] about Stocks under pressure as traders seek bond shelter: markets wrap
Cracking pressure relief valve
Share to Twitter Share to Linkedin Student loan borrowers and advocacy groups continue to pressure President Biden to enact sweeping student loan cancellation. But administration officials are touting $15 billion in student loan forgiveness that has already been provided to hundreds of thousands of borrowers during Biden’s first year in office. Student Loan Forgiveness Under Biden: $15 Billion for 675,000 Borrowers “I am proud of everything our team at [the U.S. Department of Education] has accomplished in this first year & remain inspired & committed to accomplish even more in the months and years ahead,” said Education Secretary Miguel Cardona in a tweet on Thursday, marking exactly one year since President Biden assumed office. Cardona shared a graphic celebrating the administration’s accomplishments on education policy, including billions of dollars in student loan forgiveness for 675,000 borrowers. The student loan forgiveness referenced by … [Read more...] about Biden Administration Touts $15 Billion In Student Loan Forgiveness For 675,000 Borrowers — Is More Coming?
Share to Twitter Share to Linkedin Where there is a will there’s a way, and when oil is your main source of official income, and the U.S. is roadblocking you from selling it, you’ve got to find the work-arounds. Venezuela’s ruling Socialists United Party (PSUV) seems to be doing just that with at least two willing partners – China, and Indonesia. European oil traders are also happy to oblige. In short, Venezuelan oil sanctions might not be going according to plan. Should the sanctions be lifted, then? Or can they, with any success, be tightened? And for what purpose at this point? PSUV is already a dying institution and Venezuela is a basket case nation at this point. “No sanctions regime is ever airtight. There are always ways to cheat,” says Elliot Abrams, a former Trump Administration official in charge of Venezuela sanctions policy. “We have seen illicit deals where the name of the principals involved, or of the company, or of the ships, are all changed … [Read more...] about How Venezuela’s Socialists United Is Finding Ways Around Oil Sanctions