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Business bankruptcies have risen sharply and are trending upward, per MUFG Bank Economic Research Office
Markets are counting on the Fed to head off recession with sizable interest rate cuts, per CNBC. “No recession today, but one is increasingly inevitable by year-end if the Fed fails to act,” said Steve Blitz, chief U.S. economist at TS Lombard.
The combined GLP-1 market for obesity and diabetes will reach $150 billion by 2029, reflecting a 33% compound annual growth rate from 2023 to 2029, per UBS.
The IMF has said that rising trade tensions “could further raise near-term risks to inflation by increasing the cost of imported goods," per CNN.
The increase in the unemployment rate tends to be smaller at the start of a recession, but it gets large quickly, per Bloomberg
Of the roughly 1.8 million HELOCs originated since 2023, about 57% percent have gone to borrowers aged 50 or over, with about 24% going to those in their 40s. They are overwhelmingly only available to those with high credit scores, per Reuters.
Kamala Harris will call for the construction of 3 million new housing units in her first four years in office, as well as a new tax incentive for builders that construct properties for first-time home buyers, per Bloomberg.
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About 36% buyers indicated then that a recession would make them somewhat more likely to purchase a home, per MW, with that share being even higher among first-time buyers at 42%, and 32% among repeat buyers.
Gen Xers hold about 36.6% of debt in the U.S., though they make up less than 20% of the population, per YF.
Overall delinquency rates have remained at 3.2% during the second quarter, unchanged from the first quarter, and still well below the 4.7% rate seen at the end of 2019 before the coronavirus pandemic, per Reuters.
Total U.S. household debt levels edged up in the second quarter but overall delinquency rates stabilized, indicating that borrowers are still in decent enough shape to support the economy, a report from the Federal Reserve Bank of New York said
All ages , except 70+, have increased rates of transitioning into serious delinquency, per the Fed
Federal-funds futures markets implied a roughly 23% chance that the Federal Reserve will cut its key interest rate by at least 0.5 percentage point by September, according to CME Group data.
The world's richest 1% increased their fortunes by a total of $42 trillion over the past decade, Oxfam has said.
BREAKING: Harris will propose providing up to $25K in down payment support for 1st time homeowners, with more generous support for 1st generation homeowners, according to campaign official
Burning Man festival fails to sell out for first time in a decade
Subway to launch value meals, including $6.99 footlong, this month, per NYP.
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