Armageddonists
HSBC Resuscitates 35,000 Job Cut Plan As Banking Troubles Persist
Back in February, HSBC, Europe’s largest bank and troubled lender, announced a plan that would slash upwards of 35,000 jobs. Shortly after, the lender put restructuring plans on hold for three months due to the COVID-19 outbreak. Now, Bloomberg reports, HSBC is resuming plans to cut tens of thousands of jobs as a way to boost profitability in today’s challenging environment. “Since February, we have pressed…
BoE Warns Of Worst Economic Slump In 300 Years
The Bank of England’s Monetary Policy Committee (MPC) “voted unanimously” to keep the banking rate at 0.1% and left its bond-buying program unchanged despite the country’s worst economic slump in 300 years, caused by coronavirus lockdowns. MPC voted 7-2 to leave its bond-buying program unchanged at £645 billion. Two of its nine policymakers (Michael Saunders and Jonathan Haskel) voted to increase the…
Election Apocalypse: Investors Fears Very Negative Event a Year From Here and Are Placing Bets to Hedge Themselves
The stock exchange is somehow similar to weather forecasts. You never know what’s going to happen but it’s better to plan ahead and be prepared if a disaster strikes. This is exactly what investors are doing right now as many fear a total election apocalypse. The left, the right, and the center are all worried…
JPMorgan Shames Jeff Gundlach As The King Of The Armageddonists
They’re starting to go after each other… As bearish-biased analysts, strategists, and investors throw in the towel amid the market’s incessant FOMO-driven melt-up in the face of record global policy uncertainty, declining earnings, and a global economy showing anything but ‘troughing’; it seems JPMorgan’s Asset Management group has decided now is the time to name names and call out…