Anna's Daybreak News

Good morning news friends! Get ready to be hooked as we dive deep into the world of news and deliver the pulse-pounding excitement right to your inbox.

• JPMorgan and Wells Fargo reported better-than-expected earnings.


• Despite an inverted yield-curve, mega banks are not experiencing the same margin squeeze as past recessions.


• Markets are looking past possible early warning signals of a possible downturn.


• After long resistance, US lenders are finally sharing some of their Fed-fueled gains with savers.


• Big banks Wells Fargo, JPMorgan, and Citigroup reported sudden spikes in interest expenditure for the second quarter.


• Small and large customers alike are now seeing a share of the loan windfall.


• The outlook for a potential recession may be nothing more than false alarm bells ringing.
Source: Read More

• America's largest semiconductor companies are headed to Washington to lobby against restrictions on their sales to China


• CEOs of Intel, Qualcomm, and Nvidia will meet with the Biden Administration and Congress to discuss the effects of the proposed curbs


• Exports of certain chips and equipment to manufacture the semiconductors are under threat


• The chipmakers hope to get the US to lighten up on restrictions in the spirit of diplomatic compromise, or risk ending up stuck in a tech cold war
Source: Read More

• The U.S. House of Representatives passed its version of a sweeping bill setting policy for the Department of Defense on Friday - authorizing $886 billion in spending.


• The vote was largely along party lines, a departure from the typical bipartisan support, after Republicans added a series of culturally conservative amendments.


• The House also voted 221 to 213 for an amendment that would reverse the Defense Department's policy of reimbursing expenses for service members who travel to obtain an abortion, and 222-211 to prohibit the Pentagon from paying for gender-affirming surgeries and hormone treatment.


• The Senate is expected to pass its version of the NDAA later this month, then the two chambers will negotiate a compromise with a possible explosive showdown ahead!
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• The dollar has weakened nearly 13% against a basket of currencies since last year’s peak.


• A weak greenback benefits tech and manufacturing companies, who can now export goods and services more competitively.


• Raw materials prices are more accessible to foreign buyers when the dollar is down.


• Emerging markets will enjoy relief from debt denoted in dollar terms.


• Risk-takers stand to gain the most from the plunge of the dollar, especially if they employ the dollar funding carry trade.


• So, if you've got U.S. dollars in your wallet, you might want to hit the beach and enjoy the summer while they still have some value – because the buck is gonna keep on dropping
Source : Read More

Baked with love,

Anna Eisenberg ❤️