UK Debt Outlook Remains Negative, Credit Agency Fitch Confirms
Credit rating agency Fitch Ratings maintained its "negative" outlook on the United Kingdom's economy, adding pressure to the administration of Prime Minister Rishi Sunak. This puts the UK at risk of losing its AA- rating, which is also held by France, the Republic of...
Moody’s Lowers U.S. Credit Rating to Negative
Ratings agency Moody's decided to lower its outlook on the U.S. credit rating from "stable" to "negative" as federal spending contributes to a larger fiscal deficit. A rise in government spending rocked investors' confidence, leading to a government bond selloff that took their prices...
Middle-Class Spending Power Increases In July
A new household budget index from Primerica showed that spending power among middle-income households in the U.S. increased to 97.5% in July; a 0.5% rise from the previous month. This suggests that those households generating between $30,000 and $130,000 a year are coping better financially...
Goldman Reduces U.S. Recession Probability Following Debt Deal
Goldman Sachs Group Inc. lowered its probability of a U.S. recession over the next 12 months to 25% after the government's anxiously-awaited debt ceiling deal was signed into law. This comes after the investment group upgraded its recession probability to 35% following the collapse...
U.S. Debt Ceiling Bill Signed Into Law
U.S. President Joe Biden on Saturday signed a bill suspending the government's $31.4 trillion debt ceiling, thereby averting what would have been an unprecedented default.
The legislation passed votes in both the House of Representatives and the Senate this past week after Biden and House...
Stocks Rise as House Passes Debt Ceiling Deal
U.S. stocks advanced on Thursday morning after the House of Representatives passed a bill proposing to raise the government's debt ceiling on Wednesday evening. This development has helped to subdue widespread market anxiety, particularly due to the approaching June 1 deadline, when an unprecedented...