US Economy Powers Ahead as Rate Decisions Loom
The US economy grew at a 2.8% annualized rate in the second quarter, complicating the Fed’s outlook amid weaker inflation and hiring.
Congress approved a second short-term deal to keep the US federal government running, but tougher budget negotiations are likely in the weeks and months ahead. James Sonne, PGIM’s Head of Government Affairs, breaks down how lawmakers averted a shutdown, the main issues at play in budget talks, and the potential for spending cuts in future legislation.
The US economy grew at a 2.8% annualized rate in the second quarter, complicating the Fed’s outlook amid weaker inflation and hiring.
Investors digested quarterly financial results from a slate of major banks with US corporate earnings on track for their strongest quarter in more than 2 years.
Windhill is a collateralized loan obligation (CLO) backed primarily by middle-market speculative-grade senior secured term loans.