Third round of layoffs since September from the Major Bank… Defaults surge…M2 money supply contracts

by BoatSurfer600



via CNBC:

Goldman Sachs is preparing for its third round of layoffs since September as Wall Street firms adjust to a slump in deals activity.

The company is expected to trim fewer than 250 jobs in the coming weeks, a person with knowledge of the New York-based bank’s plans said Tuesday.

Goldman Sachs, led by CEO David Solomon, was among the first major Wall Street firms to trim jobs in September, cutting a few hundred positions. It then slashed more jobs in January, releasing about 3,200 employees. Morgan Stanley
announced about 3,000 job cuts this month, and JPMorgan Chase
cut about 500 jobs, CNBC reported last week.

But Goldman is more tied to the ups and downs of Wall Street than its rivals. Its combined 16% drop in first-quarter trading and advisory revenue contributed to a disappointing start to the year.

M2 Money Supply Contracts at Fastest Rate Since Great Depression

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The money supply in the U.S. is shrinking fast, with an update Tuesday showing the biggest drop in the growth rate ever. It offers a crucial clue to the path of inflation and the central bank’s coming interest-rate decision.

Gross Domestic Income GDI Suggests the US Is in Recession Right Now

Rates still heading higher

h/t BoatSurfer600


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