Interest-rate futures indicated last week a roughly 60% chance the Fed will lower rates by a quarter-of-a-percentage point by its May 2024 policy meeting, up from 29% at the end of October.
The University of Michigan’s sentiment index, based on a long-running survey of households, remains far below prepandemic levels and lately has been near levels experienced in the wake of the 2008 financial crisis.
About 58% of the total capital deployed by private credit managers globally is estimated to come from firms that lend more than $10 billion per year.
U.S. retail sales fell 0.1% in October from a month earlier, the first decline since March and comes after a 0.9% increase in September. From a year earlier, sales rose 2.5% in October, well slower than the pace of price increases.
Through bankruptcy, WeWork filed a motion to reject approximately 69 active leases, 40 of which are in New York. The company also said it is in active negotiations with more than 400 landlords to amend existing leases.
Bain Capital is close to acquiring Guidehouse, a consulting firm that advises government organizations and businesses, in a deal valuing it at $5.3 billion including debt.
China passed a significant milestone last fall: For the first time since its economic opening more than four decades ago, it traded more with developing countries than the U.S., Europe and Japan combined.
Employers offer 80% of workers paid sick leave, up from 67% a decade ago. Paid vacation expanded to 77% of the workforce from 74%. And paid family leave, with the most dramatic jump, increased to 27% from 12%.
Gross domestic product grew at a seasonally- and inflation-adjusted 4.9% annual rate in the third quarter. That was the fastest rate since late 2021 and much stronger than economists were anticipating just a few months ago. The economy expanded 2.1% in the second quarter.
