CRE fears are overstated
The worst-case commercial real estate scenarios are unlikely to pan out. Here’s why.
Economy
Fed survey: Business lending standards tightened in Q3 2023
Lending standards for business loans tightened during the third quarter of 2023, with weaker demand for commercial and industrial loans...
Fed’s Cook: Nonbanks pose financial stability concerns
The banking sector has stabilized since bank failures earlier this year, but the vulnerabilities at certain nonbank financial institutions could...
ISM: Service sector expanded in October
The ISM Services Index decreased 1.8 percentage points (pp) to 51.8% in October—the tenth consecutive month of expansion for the...
150,000 jobs added in October, unemployment rate changed little at 3.9%
Total nonfarm payroll employment increased by 150,000 in October, and the unemployment rate changed little at 3.9%. Job gains occurred...
The Basel III endgame proposal: Yet another gift to private credit funds
We should think twice about creating a regulatory framework that drives business away from the brightly lit world of highly...
New orders for manufactured goods increased in September
New orders for manufactured goods increased 2.8% to $601.5 billion in September, according to the U.S. Census Bureau. This followed...
FOMC keeps rate unchanged
The Federal Open Market Committee today announced it would maintain the target range for the federal funds rate at 5.25%...
ISM Manufacturing falls in October
The U.S. manufacturing sector contracted in October, Manufacturing PMI® registered 46.7%, 2.3 percentage points (pp) lower than the 49.0% recorded...
Construction spending increases in September
Construction spending during September 2023 was estimated at a seasonally adjusted annual rate of $1,996.5 billion, 0.4% above the revised...
