I heard a little bit about yellow. Some big shipping company going into liquidation bankrupcy (not even the chapter 11 bankrupcy where they try to save the company). Instead, instant liquidation. Does anyone know the history and full story on what lead up to this. Is it the higher interest rates. Seems shipping is a good business to be in. Never ending Amazon / Walmart online orders to deliver. Trying to understand what caused it to go bankrupt?Yellow begins layoffs today, eventually 30,000 employees will lose their job at Yellow.
Mechanics are being told to immediately remove all personal belongings and tools from shop before they get locked out of facility.
Investing Strategies. What is your move?
- Thread starter PimTac
- Start date
I think that most people thought they would not strike....
For those who thought the bank troubles were behind us.
“Banks fell broadly after Moody’s downgraded the credit rating on several regional banks, including M&T Bank and Pinnacle Financial, citing deposit risk, a potential recession and struggling commercial real estate portfolios. The credit agency also placed Bank of N.Y. Mellon and State Street on review for a downgrade.”
Bank of NY Mellon and State Street are not small potatoes.
www.cnbc.com
www.cnbc.com
Dow sheds more than 150 points as Moody’s bank downgrade rekindles market selloff: Live updates…
“Banks fell broadly after Moody’s downgraded the credit rating on several regional banks, including M&T Bank and Pinnacle Financial, citing deposit risk, a potential recession and struggling commercial real estate portfolios. The credit agency also placed Bank of N.Y. Mellon and State Street on review for a downgrade.”
Bank of NY Mellon and State Street are not small potatoes.
Dow sheds more than 150 points as Moody’s bank downgrade rekindles market selloff: Live updates
Stocks retreated Tuesday as a decline in bank shares dampened investor sentiment.
www.cnbc.com
Moody's cuts ratings of 10 U.S. banks and puts some big names on downgrade watch
Moody's on Monday cut the credit ratings of a host of small and mid-sized U.S. banks and placed several Wall Street big names on negative review.
When a whole phalanx of small- and mid-sized banks implodes later this year, the rate on the 10-year T-note is going to strap on a rocket pack and head to the moon. The implications of that move on mortgage rates need not be stated, but the words "commercial real estate" and "kaboom" play nicely together. Sporty times.
Hmm.............methinks when that level of excrement hits the rotating blades FED will be the hero..............but if the big banks REALLY want the failures then OK.
Fact of life, we live, all of us, if even indirectly on a mountain of debt because that is what we vote for. Take away the pain we demand Washington to borrow money. We then try to figure out this stock market and I am besides myself except not to fight the market, pick and chose is what I do.
Looking at the DOW, will we be in a Japan scenario for a couple decades and end up going nowhere but sideways? Maybe as all this debt spills out to no longer be ignored.
I find it interesting, in reality the DOW is the same level it was 2 years ago. In fact it hasn't even returned to its high in Dec 2021.
I guess maybe that is why I am not "down" on the market or better said feel safe being in reputable companies with "sane" P/E ratios, might be considered defensive but it done right can be above average to way above average returns.
Takes guts individual stocks, but got to learn lessons, even myself just blew my 20% return that I had in less than 2ish months of owning GM. Got greedy and I Swear I was going to see lit at that 20% but got greedy. Now I have to accept 10% if I sell today... guess Ill put it off another day and lose more unrealized gains
Looking at the DOW, will we be in a Japan scenario for a couple decades and end up going nowhere but sideways? Maybe as all this debt spills out to no longer be ignored.
I find it interesting, in reality the DOW is the same level it was 2 years ago. In fact it hasn't even returned to its high in Dec 2021.
I guess maybe that is why I am not "down" on the market or better said feel safe being in reputable companies with "sane" P/E ratios, might be considered defensive but it done right can be above average to way above average returns.
Takes guts individual stocks, but got to learn lessons, even myself just blew my 20% return that I had in less than 2ish months of owning GM. Got greedy and I Swear I was going to see lit at that 20% but got greedy. Now I have to accept 10% if I sell today... guess Ill put it off another day and lose more unrealized gains
Full list of banks affected by downgrade or under review or outlook change.
Moody's cut ratings of 10 banks on Monday. The largest lender to receive a lower rating is M&T Bank, the 19th largest U.S. bank by assets, according to the Federal Reserve.
Here's the list of banks downgraded:
www.cbsnews.com
Moody's cut ratings of 10 banks on Monday. The largest lender to receive a lower rating is M&T Bank, the 19th largest U.S. bank by assets, according to the Federal Reserve.
Here's the list of banks downgraded:
- Commerce Bancshares
- BOK Financial Corporation
- M&T Bank Corporation
- Old National Bancorp
- Prosperity Bancshares
- Amarillo National Bancorp
- Webster Financial Corporation
- Fulton Financial Corporation
- Pinnacle Financial Partners
- Associated Banc-Corp
6 banks with ratings under review
Moody's also said it placed six banks under review for possible downgrades, with some of those banks among the nation's largest. They are:- Bank of New York Mellon Corporation
- Northern Trust Corporation
- State Street Corporation
- Cullen/Frost Bankers
- Truist Financial Corporation
- U.S. Bancorp
11 banks with negative outlooks
The credit rating agency also said it shifted the outlook of 11 banks from stable to negative. They are:- PNC Financial Services Group
- Capital One Financial Corporation
- Citizens Financial Group
- Fifth Third Bancorp
- Huntington Bancshares
- Regions Financial Corporation
- Cadence Bank
- F.N.B. Corporation
- Simmons First National Corporation
- Ally Financial
- Bank OZK
Banks get a downgrade from Moody's. Here are the 10 lenders impacted.
Ratings agency says its also watching some of nation's biggest lenders for possible cuts amid ongoing financial strain.
www.cbsnews.com
I've held CD's from some of them. None right now.Full list of banks affected by downgrade or under review or outlook change.
Moody's cut ratings of 10 banks on Monday. The largest lender to receive a lower rating is M&T Bank, the 19th largest U.S. bank by assets, according to the Federal Reserve.
Here's the list of banks downgraded:
- Commerce Bancshares
- BOK Financial Corporation
- M&T Bank Corporation
- Old National Bancorp
- Prosperity Bancshares
- Amarillo National Bancorp
- Webster Financial Corporation
- Fulton Financial Corporation
- Pinnacle Financial Partners
- Associated Banc-Corp
6 banks with ratings under review
Moody's also said it placed six banks under review for possible downgrades, with some of those banks among the nation's largest. They are:
- Bank of New York Mellon Corporation
- Northern Trust Corporation
- State Street Corporation
- Cullen/Frost Bankers
- Truist Financial Corporation
- U.S. Bancorp
11 banks with negative outlooks
The credit rating agency also said it shifted the outlook of 11 banks from stable to negative. They are:
- PNC Financial Services Group
- Capital One Financial Corporation
- Citizens Financial Group
- Fifth Third Bancorp
- Huntington Bancshares
- Regions Financial Corporation
- Cadence Bank
- F.N.B. Corporation
- Simmons First National Corporation
- Ally Financial
- Bank OZK
Banks get a downgrade from Moody's. Here are the 10 lenders impacted.
Ratings agency says its also watching some of nation's biggest lenders for possible cuts amid ongoing financial strain.
I hold some Bank OZK preferred shares bought around $13 share so no too worried.
It doesn't surprise me based on world events over the last 2-3 years. Hasn't been all "wine and roses", and it could have been way worse. What stock market or country in the world has done better than ours in the last 3 years?
Investors tend to get greedy and want their investments to gain something every day, it's like a gambler's addiction high (lol), but that's typically just a fantasy in most cases. The main goal is to always make money, regardless if it's alot or not, and try not to ever lose money. I'm always happy not to lose money in any of my investments, even if I made less than I wanted out of it.
China reports double-digit plunge in July exports and imports, missing expectations
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.
www.cnbc.com
China reports double-digit plunge in July exports and imports, missing expectations
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.
That sound you just heard was China’s balloon popping.
China chose to keep people home longer during the pandemic and did not cut checks. Their economy is in deflation; low prices because the economy is in bad shape. China college educates far more graduates than they have jobs.China reports double-digit plunge in July exports and imports, missing expectations
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.
Some argue this is good for America because China exports are cheaper than they would be.
A non US media article on the China economy and deflation.
www.channelnewsasia.com
How China is responding to economic challenges
BEIJING: China on Wednesday (Aug 9) reported it had entered deflation for the first time since 2021 - the latest indicator pointing to a slowdown in the world's second-largest economy.
Accelerated by the pandemic absolutely. However this was to happen eventually anyway. Chinese demographics are terrible, meaning no cheap young workers anymore. Factory labor is 18X higher there than it was 30 years ago. Average factory labor - China $6.50, Mexico $2.80, Vietnam $2.99, etc.
It would have taken another decade, but once companies figured out they needed to move anyway - poof. China way overplayed their hand. Tends to happen when a single person is in charge of everything and everyone is afraid to tell the emperor he has no clothes.
The question is how much global turmoil do they create while they circle the tank.
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We have been predicting the failure of China for the last 20 years. It's finally happening.
No more cheap products for us to consume after we inshore production - good times are coming.
JHZR2
Staff member
Cheap will just come from someplace else. SE Asia, South America, Africa, Mexico, Caribbean, etc.
Energy costs will affect some and drive transport costs which will determine where the labor, production, and transport cost structures converge.
The markets are having that sick feeling.
www.cnbc.com
Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase……
Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase
Fitch Ratings warned that U.S. banks have inched closer to sweeping rating downgrades on dozens of lenders, including JPMorgan Chase and Bank of America.
So I know very little about banks - so someone needs to help me out here.
Banks borrow short, to lend long. However when the yield curve is inverted thats a money loser. Also, deposits are fleeing for T-bills given rates so they have no reserves to make new loans. Hence I totally understand the downgrade.
However the Fed. Res. is responsible for ensuring the soundness of the banking system. Since the yield curve inversion is there doing there the ones "causing" the downgrades. There also the ones blowing up the Federal deficit with higher government debt payments. I realize both root causes of those things originate at the government, but this is a discussion of monetary policy not fiscal policy.
So is this the current "there is no issue in Subprime" moment, or what am I missing?
Banks borrow short, to lend long. However when the yield curve is inverted thats a money loser. Also, deposits are fleeing for T-bills given rates so they have no reserves to make new loans. Hence I totally understand the downgrade.
However the Fed. Res. is responsible for ensuring the soundness of the banking system. Since the yield curve inversion is there doing there the ones "causing" the downgrades. There also the ones blowing up the Federal deficit with higher government debt payments. I realize both root causes of those things originate at the government, but this is a discussion of monetary policy not fiscal policy.
So is this the current "there is no issue in Subprime" moment, or what am I missing?
Homebuilder sentiment drops sharply, as mortgage rates surge over 7% …….
Homebuilder sentiment drops sharply, as mortgage rates surge over 7%
A recent jump in mortgage rates has taken the steam out of recent gains in homebuilder sentiment.
www.cnbc.com
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