Dallas Fed Mfg Activity Holds Near One Year High Despite Plunge In Respondent Sentiment On Iran War

In studying history, it is key to avoid definitional anachronism—failing to note how a word has changed over time and assuming the present meaning was the same in the past. This is often the case with the word currency as used in colonial America.

S&P Slashes New Orleans' Credit Rating On "Structurally Imbalanced Operations" New Orleans, home to Mardi Gras and muffulettas, has been governed by Democrats for decades, so it should come as little surprise that S&P Global Ratings has slashed the city's obligation rating to the third-lowest level of investment grade and placed it on a negative outlook. S&P Global Ratings cut New Orleans' general obligation rating by one notch to BBB+ with a negative outlook, citing structurally imbalanced finances, shrinking reserves, and growing reliance on one-time desperate measures to meet cash needs. "The...

"Busiest Week Ever": Goldman's Trading Desk Sees Rush Into Brazil After Bolsonaro's First-Round Win Brazil's general elections earlier this month sparked a right-wing wave at the polls. Though most polls forecast socialist President Luiz Inácio Lula da Silva narrowly leading in the first-round presidential race, right-wing Sen. Flávio Bolsonaro beat the unhinged leftist by around 2 percentage points. Bolsonaro and Lula now head to an October 25 runoff, with the latest polls putting Bolsonaro ahead. A PoderData/Aya survey released earlier today put Bolsonaro at 51% of valid votes and Lula at 49%,...