Moving averages. This months worst performer on the dow. Plus activism in the restaurant sector. Outback steakhouses Parent Company down sharply. Lets begin with the markets extending this weeks losses, not a lot going right, and today, mike, a lot of it surrounds china and worries about not just growth but the debt burden as well. You wouldnt say its a new factor bits been on the list o worries. You have one of these situations where once you have this pretty sharp break in momentum to the upside, several weeks ago, some breakdowns in the longer term trend, some concerns about, you know, valuation that were always there that are being exacerbated and why has the yield become unanchored, treasury yields, and even global yields . All that stuff in the mix and then you have the related concern of, oh, what might what stress points might we see emerge out of that . All thats in the mix. I do think, also, yesterday, with the yields making those new kind of 15year highs, you started to see
Cspan is your unfiltered view of government. We are funded by these companies and more. The greatest town on earth is the place to call home. Here it is our tome home as well. We all face the greatest challenge. They are working around the clock to keep you connected. We are doing our part so it is easier to do yours. It supports cspan as a Public Service as well as these other providers in your front row seat to democracy. The congressional budget director released the budget and outlook report for the next 10 years. He talks about growth projections, the deficit, tax revenues and the impact of undocumented migration in the u. S. Budget and economy. This is about 40 minutes. Good. Okay. Thank you, everyone. And thank you for joining us here in person at the congressional budget office. I will talk first about the federal budget and discuss the economy. So in the projections that we released today, the deficit grows from 1. 6 trillion in 2024 to 2. 6 trillion in 2034 and measured in re
Tom, great to have you as always thanks for the time today. Great to see you, carl. I know youve been leery of the month of august in general did this mornings early tone do anything to change that . Yes and no. I think there are some constructive things that happened today that make myself and mark, head of technical strategy, think were actually in a bottoming, possibly for the month of august. The dollar reverse,ed sharply, and yields turned down, and as you know, both would be pretty big headwinds for stocks as we got into august, its been a rough four days so far, but i think the jobs number was pretty decent and then i am kind of optimistic that were going to get a good cpi report next week. So, thats kind of a road map to seeing stocks do better next week yeah. We have had a lot of chatter today about what cpi is going to bring us i think you could maybe argue the tone is relatively optimistic given what we think used cars and rent is going to do in the coming weeks yes, thats r
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl