Wall Street says the worst is over for Wall Street. God Bless Bidenomics.

J

Joe Capitalist

Racism is a disease
Wall Street says the worst is over for Wall Street

David Hollerith·Senior Reporter - Thu, Jul 20, 2023 at 7:14 AM EDT

Wall Street is making the case that the the worst is over for Wall Street. So far investors agree.

Top bank executives spent much of this past week pointing to "green shoots" in dealmaking or trading despite in most cases logging another disappointing quarter.

Morgan Stanley (MS) CFO Sharon Yeshaya said that "sentiment and activity improved towards the end of the quarter, evidenced by green shoots that emerged across our businesses."


Citigroup (C) CFO Mark Mason said "we are seeing green shoots" in the issuance of debt "as clients start to have a greater conviction" about the direction of interest rates.

Goldman Sachs (GS) CEO David Solomon said Wednesday that the month of June "was certainly better" than the earlier part of the quarter and that he has noticed more "risk-on sentiment" in July.

"It definitely feels better over the course of the last six to eight weeks than it felt earlier in the year."
That's certainly what investors wanted to hear.

Stocks of most big banks rose this past week. Morgan Stanley's stock was up more than 6% on Tuesday after its results were released. Goldman's stock even rose more than 1% Wednesday

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Tinkerpeach said:
What did Biden do exactly?

You sure it wasn't the pandemic ending?
Click to expand...

Morgan Stanley credits Bidenomics for ‘much stronger’ than expected GDP growth

President Joe Biden’s economic policies drove an unexpected economic surge that has forced Morgan Stanley to make a “sizable upward revision” in its GDP forecasts.
Biden’s 2021 infrastructure bill has created “a boom in large-scale infrastructure,” wrote MS analysts, while domestic business investment “is rebounding, led by manufacturing.”

WASHINGTON — Morgan Stanley is crediting President Joe Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product.

Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley, in a research note released Thursday. In addition to infrastructure, “manufacturing construction has shown broad strength,” she wrote.

As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.

“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote.

The analysts also doubled their original estimate for GDP growth in the fourth quarter, to 1.3% from 0.6%. Looking into next year, they raised their forecast for real GDP in 2024 by a tenth of a percent, to 1.4%.

“The narrative behind the numbers tells the story of industrial strength in the U.S,” Zentner wrote.

iu
 
Joe Capitalist said:
Morgan Stanley credits Bidenomics for ‘much stronger’ than expected GDP growth

President Joe Biden’s economic policies drove an unexpected economic surge that has forced Morgan Stanley to make a “sizable upward revision” in its GDP forecasts.
Biden’s 2021 infrastructure bill has created “a boom in large-scale infrastructure,” wrote MS analysts, while domestic business investment “is rebounding, led by manufacturing.”

WASHINGTON — Morgan Stanley is crediting President Joe Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product.

Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley, in a research note released Thursday. In addition to infrastructure, “manufacturing construction has shown broad strength,” she wrote.

As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.

“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote.

The analysts also doubled their original estimate for GDP growth in the fourth quarter, to 1.3% from 0.6%. Looking into next year, they raised their forecast for real GDP in 2024 by a tenth of a percent, to 1.4%.

“The narrative behind the numbers tells the story of industrial strength in the U.S,” Zentner wrote.

iu
Click to expand...

You realize that a president doesn't write legislation don't you?

This was a bipartisan bill written by both democrats and republicans.

Biden simply signed it.
 
Tinkerpeach said:
You realize that a president doesn't write legislation don't you?

This was a bipartisan bill written by both democrats and republicans.

Biden simply signed it.
Click to expand...

The Build Back Better Inflation Reduction Act was all Biden's.

WASHINGTON -- The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency.

Republicans have hammered Biden over the cost of groceries, gasoline, utilities and more, saying his $1.9 trillion pandemic relief package and push for electric vehicles were responsible for pushing inflation to a four-decade high. The GOP argument has resonated with voters, but the report on consumer prices for June suggests that inflation has eased dramatically without any of the job losses that some economists and Republican leaders said would occur.

Prices have risen just 3% from a year ago, compared with 9.1% in June 2022, and it's the lowest reading since March 2021.

Unlike a year ago, inflation is mainly coming from a government measure of shelter based on what it would cost to rent a home. This makes the inflation argument somewhat nuanced as data from AP VoteCast, a sweeping survey of the national electorate, shows that the majority of voters last year — 83% of Republicans and 73% of Democrats — own their homes and are largely insulated from higher rental prices.

Biden's team was quick to seize on the inflation report as proof that its policies are delivering results. Defying expectations that Federal Reserve efforts to combat inflation would cause layoffs, the unemployment rate is healthy at 3.6%.

iu
 
Joe Capitalist said:
The Build Back Better Inflation Reduction Act was all Biden's.

WASHINGTON -- The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency.

Republicans have hammered Biden over the cost of groceries, gasoline, utilities and more, saying his $1.9 trillion pandemic relief package and push for electric vehicles were responsible for pushing inflation to a four-decade high. The GOP argument has resonated with voters, but the report on consumer prices for June suggests that inflation has eased dramatically without any of the job losses that some economists and Republican leaders said would occur.

Prices have risen just 3% from a year ago, compared with 9.1% in June 2022, and it's the lowest reading since March 2021.

Unlike a year ago, inflation is mainly coming from a government measure of shelter based on what it would cost to rent a home. This makes the inflation argument somewhat nuanced as data from AP VoteCast, a sweeping survey of the national electorate, shows that the majority of voters last year — 83% of Republicans and 73% of Democrats — own their homes and are largely insulated from higher rental prices.

Biden's team was quick to seize on the inflation report as proof that its policies are delivering results. Defying expectations that Federal Reserve efforts to combat inflation would cause layoffs, the unemployment rate is healthy at 3.6%.

iu
Click to expand...

President's aren't allowed to write legislation.

What part of that don't you get?
 
Tinkerpeach said:
President's aren't allowed to write legislation.

What part of that don't you get?
Click to expand...

President's is possessive.
Presidents is plural.

Did you graduate from the Donald Trump School of Grammer, TinkerBitch?

I know it pains you to give President Biden any credit for anything good but you can't deny the numbers.
Bidenomics is kicking ass no matter what you think or say.

Now please go fuck yourself, asshole.
 
Joe Capitalist said:
President's is possessive.
Presidents is plural.

Did you graduate from the Donald Trump School of Grammer, TinkerBitch?

I know it pains you to give President Biden any credit for anything good but you can't deny the numbers.
Bidenomics is kicking ass no matter what you think or say.

Now please go fuck yourself, asshole.
Click to expand...

The end of Covid is improving the economy.

And if Biden did anything good I would give him credit, I gave credit to Obama when he made right decisions.
 
Tinkerpeach said:
You realize that a president doesn't write legislation don't you?

This was a bipartisan bill written by both democrats and republicans.

Biden simply signed it.
Click to expand...

Um

Dear fucking idiot

It was his campaign that outlined it

It was the Democrats who crafted the policy and voted it in


Every Republican voted against it ass face


Fuck you very much
 
Joe Capitalist said:
The Build Back Better Inflation Reduction Act was all Biden's.

WASHINGTON -- The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency.

Republicans have hammered Biden over the cost of groceries, gasoline, utilities and more, saying his $1.9 trillion pandemic relief package and push for electric vehicles were responsible for pushing inflation to a four-decade high. The GOP argument has resonated with voters, but the report on consumer prices for June suggests that inflation has eased dramatically without any of the job losses that some economists and Republican leaders said would occur.

Prices have risen just 3% from a year ago, compared with 9.1% in June 2022, and it's the lowest reading since March 2021.

Unlike a year ago, inflation is mainly coming from a government measure of shelter based on what it would cost to rent a home. This makes the inflation argument somewhat nuanced as data from AP VoteCast, a sweeping survey of the national electorate, shows that the majority of voters last year — 83% of Republicans and 73% of Democrats — own their homes and are largely insulated from higher rental prices.

Biden's team was quick to seize on the inflation report as proof that its policies are delivering results. Defying expectations that Federal Reserve efforts to combat inflation would cause layoffs, the unemployment rate is healthy at 3.6%.

iu
Click to expand...

Just being a contrarian to anything the Democrats Do is killing the Republican Party


Let’s hope they keep it up until the cheating Republican Party is a corpse in the ground
 
Tinkerpeach said:
I never predicted that.

I wasn't even a member here when Biden was elected.
Click to expand...

But you undoubtedly raised your fist in solidarity and vigorously nodded your head in agreement three years ago when Trumpf practically guaranteed that if Americans dared to elect Biden there would be an unprecedented economic depression of apocalyptic proportions.
 
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