Get in touch, here is the news. Retail sales fell more than expected last month partly because of the wet weather. The office for National Statistics say they were down by 1. 2 in july. Statistics say they were down by 1. 2 injuly. More than a quarter of sales for online, the highest level since february last year. The treasury has told banks and Building Societies they will be fined if they dont provide sufficient access to cash. Free cash withdrawal should be available three miles in rural areas and one mile with in urban areas. The system to allocate Liver Transplant is weighted to much towards older people. Figures show younger people are waiting four times longer on average than those over 60. The nhs said its Computer Algorithm saves lives. The top official on maui has resigned. He says he is stepping down for health reasons. He has been criticised in the wake of the wildfires which have killed 111 people. Residents of maui has had a stronger response would have saved lives. We a
About the collapse of silicon bank west church of the largest Bank Failures in u. S. History. Congressman mchenry discussed the role the Federal Reserve and the Deposit Insurance Corporation Bank Regulation of Risk Management. This event as hope and by the brookings institution. Kground noises] [background noises] good morning everybody. Im director on fiscal and Monetary Policy and be half the hutch and Center Center on me you to this event both the people in the room and the people watching remotely. Our subject today is what lessons we have learned from the really interesting efforts of march 2023. A year ago the glol Financial System suffered the most significant banking stress since the Global Financial crisis of 2007 and eight. As you all probably know if event Silicon Valley bank failed prompt and the fdic to take it over the middle of the dayay could not even make d it to the weekend which is as a one off event. Silicon valley was certainly for lack of a better term unusual. Th
We are down on the hang seng index, jakartas coming online. We are also seeing u. S. Futures starting to also point lower. We have a series of data points, we should be watching out for trade numbers, inflation is out tomorrow. Im wondering if the market is starting to sniff out a soft inflation number. What is top of mind for you . Yvonne yeah. You mentioned what is going on when it comes to the macro picture. The whole recession debate in the u. S. Is lingering in the bond market. You have the likes of goldman, Morgan Stanley saying, save the move we saw last week that was a bit overdone and by treasuries, its a sign that that may be what we saw was a bit too far. They are talking about going bullish when it comes to the fiveyear for jp morgan, going along when it comes to 30 year tips. They are seeing signs that maybe we are not really the news did not really drive it. The boj was tweaking, the downgrade on u. S. Debt also all of which is what goldman is saying is not showing meanin
Hitting alltime highs for these indexes. The two yields breaking down below 4. 60, well below. About a three basis point move but remember we were still above 4. 60 just yesterday. Weaker dana driving those higher, the testimony to congress. The u. S. Dollar breathing a sigh of relief after reaching a record on the day here. Still up 7 10 of 1 off the highs of the day but still getting event. Bitcoin is getting off of record highs. It did indeed touch that record but has now fallen very meaningfully to that 64,000 level, down now about 4. 6 . We are talking about apple continuing its decline helping to lead a lot of those tech heavyweights stocks. That decline after apple sales in china fell by a surprising 24 of the first six weeks of the year and on the earnings front also, some green on the screen, target of more than 11 jumping after work quarter profit estimates and the retailer continues improvement in inventory management. And in finance, new York Community bank rebounding after
Mountain. In other words, that the last few months have seen an escalation on the part of the thing and government, whether its early like the sounds or a major comfortable offensive or uh, media wise. And so i believe that maybe the gen, the meeting would provide the government the same was a way out of the president , the reasons it has as promised, it has promised to us it has promised its deeper that the concert or its gone through offensive would be a major one and it would ultimately change the dynamics on the back end for you. So far that has hasnt happened. And according to menissi, experts around words like this in the west, there are really those see that this was happening. So, so if this is, then the government in game is facing a very and madison situation. You said be the premium people. And these are the major suppliers and the major ad providers. We need the assistance to brain, namely, naval and the united states. So uh, i tend to be, this is my personal opinion that t