US wholesale inflation picked up slightly in November from a month earlier on a jump in energy costs, even as prices for services were unchanged.
The producer price index rose 0.2% after climbing 0.1% in the prior month, according to much-heralded BLS.
In a surprising announcement made Friday afternoon in a tweet, Elon Musk said that he sold social media platform X, formerly Twitter, to his AI startup firm xAI for $45 billion in stock. The deal includes $12 billion in debt owed by X.
I haven't followed this in a while, I don't have alerts set up for this - but as a reminder, the yield curve has un-inverted, and has stayed uninverted for some days. We usually see "official" "recessions" when this happens: not when the yield curve inverts, but when it uninverts, or shortly after.
From Zerohedge.
Well, it's official: Powell came, saw, and unlike two years ago when, with with CPI rising almost double digits the uber-hawkish Fed chair warned of "pain" to come, this time he couldn't be more dovish.
Authored by John Rubino via Substack,
Pretend, for a moment, that it’s 1971 and you’re President Richard Nixon (admittedly disturbing fantasies, but bear with me). You face the perennial government income/outflow dilemmas, and other countries, noting your struggle, are trying to cash their dollars in for your limited pile of gold bars.
Via Zerohedge.
When stocks are ejected from market-cap-weighted indexes, swooping in to load up on them -- and hold on to them -- can pay off nicely, according to a new paper from Newport Beach, California-based Research Affiliates LLC.
Title: Unraveling the Collapse of New York Community Bank: Lessons and Implications
Introduction
The collapse of a financial institution is always a cause for concern, with ripple effects that can impact the economy and the individuals who rely on its services. In recent years, New York Community Bank (NYCB) experienced a major setback, ultimately resulting in its collapse. This article aims to shed light on the circumstances surrounding NYCB’s collapse, the lessons learned, and the broader implications for the banking industry.
The Background
