Your Evening Briefing
The U.S. posted its biggest monthly budget deficit on record last month, thanks in part to the combination of falling corporate and individual tax revenue and increasing federal spending.
Here are today’s top stories
There's been a lot of prognostication about a coming recession; if it will happen, and if so, when. Well, we now have the first reliable market signal of an impending downturn.
But not everyone is worried. This Wall Street central bank strategist says panic is premature.
President Donald Trump said he's nominating Stephen Moore to the Federal Reserve Board. Moore is a former Trump campaign adviser and an ardent critic of Fed Chairman Jerome Powell. But it was a recent op-ed he co-wrote that may have caught the president's eye.
Stocks ended the week lower and Treasuries rose amid more signals that global growth is slowing.
Supporters of a rifle attachment that figured in the 2017 massacre of 58 people in Las Vegas are fighting to keep "bump-stocks" legal.
All those people the U.S. government relies on to push through government sanctions are quitting.
What's Luke Kawa thinking about? The Bloomberg cross-asset reporter said the March Fed meeting may go down in history as the culmination of a massive about-face in the outlook for rates.
What you’ll need to know tomorrow
- The Levi Strauss IPO just made these people billionaires.
- The EU granted a reprieve to Theresa May and her Brexit problem.
- Uber picked NYSE for its monster IPO.
- Tesla accused a Chinese billionaire's engineer of stealing secrets.
- New York is getting sick of developers with empty space upstairs.
- Scientists seek new direction in attacking Alzheimer's disease.
- Black household wealth is 9 percent of whites, the same as 1965.
What you’ll want to read in Bloomberg Pursuits
Swiss watchmakers are caught in the trade war crossfire. When Ricardo Guadalupe stepped into the Las Vegas shop of luxury watch brand Hublot earlier this month, something didn’t feel right. “Our boutique was half-empty,” the chief executive of the LVMH-owned watchmaker said. “We see fewer Chinese traveling to the U.S. We have less traffic.” The U.S. trade war on China is causing collateral damage.
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