US deficit, tariffs & BlackRock CEO warning - News and my thoughts from last week (16Jun25)
News and my thoughts from last week (16Jun25)
The US budget deficit hit $316 BILLION in May, the third-largest amount in history. In the first 8 months of the Fiscal Year 2025, the cumulative deficit stands at $1.365 TRILLION, the second-largest on record outside the pandemic - X user Global Markets Investor
Container rates from Asia to the U.S. West Coast surged as shippers pushed the peak season early to frontload goods ahead of potential tariff pauses in July and August, while ocean lines implemented general rate increases (GRIs) as of June 1. - X user FreightWaves
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Unrealised losses on investment securities for banks hit ~400 billion in Q1 2025. Banks have seen 14 straight quarters of unrealised losses. This matches the streak seen in 2006-2009, which started before the Financial Crisis. - X user Global Markets Investor
*U.S. TO CHARGE 55% TARIFF ON CHINESE GOODS, RETAINING 30% NEW TARIFFS PLUS 25% PRE-EXISTING -U.S. OFFICIAL *CHINESE TARIFF RATES EXPECTED TO BE 10% FOLLOWING GENEVA DEAL - U.S. OFFICIAL (investing)
More office space is set to be removed than added this year, shrinking the overall office footprint. Office vacancies soared to a record high and still hover right around there at 19%. 5% vacancy is considered healthy. - CNBC
The U.S. Treasury will sell a total of $119 billion in 3-, 10-year notes, and 30-year bonds. The latter will be closely watched for signs that bond investors are putting their foot down and rejecting countries with huge fiscal deficits and mountains of debt. - Reuters
“Mini Nuclear Breakthrough”: China Activates World’s First Compact Reactor to Deliver Clean Energy to Over Half a Million HomesPlant Set to Power Over Half a Million Homes in China - Sustainability Times
S&P downgrades Warner Bros bonds deeper into junk status - Business Times
Larry Fink, BlackRock's CEO, just issued a dire warning, saying that the US will drown in debt unless the country finds a way to stimulate and grow the economy. - DailyHODL
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