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BREAKING: Recession News
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Big US banks are reportedly feeling uneasy about the possibility of an impending recession, according to a recent Bloomberg report. While concerns about an economic downturn have been brewing for some time, the banks are now reportedly fearing that the end of the 10-year long bull run could be in sight.
The report cites several factors that are causing these fears, including slowing global growth, rising trade tensions, and market volatility. Additionally, many investors and analysts have noted that the US economy is overdue for a recession, given that the current expansion has been going on for a decade – longer than any other in history.
These worries are not unfounded. Several economic indicators have shown signs of weakness in recent months. For example, US manufacturing activity has been slowing down, while certain sectors – such as auto sales and housing – have seen declines. Meanwhile, the bond market has been flashing warning signs, with yields on long-term government bonds falling below those of shorter-term bonds – a phenomenon known as an inverted yield curve, which has historically been a harbinger of recession.
The banks’ concerns about a potential recession are also being fueled by their own earnings reports. While most of the major banks have posted solid profits for the second quarter of this year, many have warned that the economic environment is getting tougher. J.P. Morgan CEO Jamie Dimon, for instance, has said that “the global economic environment continues to be challenging,” while Citigroup CEO Michael Corbat has noted that “there are some warning bells going off around the world.”
To hedge against the possibility of a downturn, some banks are reportedly taking steps such as cutting costs, tightening credit standards, and reducing risk exposure. Some are also reportedly slowing down loan growth and focusing more on safer, lower-risk assets.
Investors, too, are beginning to consider the possibility of a recession. This has been reflected in the stock market, which has seen increased volatility and a flight to safer assets like bonds. The Bloomberg report notes that investors are also increasingly turning to short-term bets – known as shorts – in order to protect themselves against market downturns.
While it’s still unclear when or if a recession will actually hit, the fact that major banks are worrying about it is concerning. If the fears of a downturn turn out to be well-founded, it could have significant ramifications for the US and global economy – and for ordinary people and businesses.
OMGod…go back to your crib!
What she's not telling you is that the banks will permanently close. We just don't know when.
Talking ourselves into recession?
Punjab
Rsession started in 2022…August I believe. Why is recession suddenly buzzing? Lol
I like her
We have been in a recession for over a year and are on the edge of an outright depression atm. You're info is way late.
Her reading a script is just fine for me
Who is this broad?
Nicely done, Bloomberg!
even weekends!
…America you all are aware we are in one and have been since 2021 I’m sure. This will last decades this is the Great Recession
Not sure what she's saying, but it's sure nice to listen to her talking.
We are already in a recession. So what your really saying is that we are about to have another worsening of the current recession.
I'm in love
Whats her name, I'm sure she has heaps of followers…
She is so beautiful…
Who cares Who ar you. ArrrrrRooofffff
It's not a fear more like happiness for them. It's premeditated and they withdrew there money at the high and piling up that cash for rock bottom to 5x-10x their money making mega billions.
what's her name?
Oh no you have to pay their staff so they can afford basics like a roof and heating :'(