The ‘vibecession’ is ending as the U.S. economy nails a soft landing, economists say

Real Estate
For months, economists have wrestled with the disconnect between how well the economy is doing and how badly people feel about their financial standing. Now, evidence suggests that the so-called “vibecession,” or that prolonged period of negative sentiment about the economy, appears to be ending, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics.  As inflation cools
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Connecticut treasurer to speak at Muni Pride event in NYC

Bonds
Efforts by Muni Pride to align with other public finance affinity groups are reaping dividends for the group, which has grown to more than 100 individuals since its inception in 2019. The California-based national LGBTQ+ networking group will host its next event Oct. 1 in New York City. Connecticut State Treasurer Erick Russell will offer
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Local water authorities resisting federal regulation

Bonds
Local water authorities in California’s Central Valley are not happy with environmental regulations being imposed by the Biden Administration.  “Our Central Valley is the backbone of our nation’s food supply, yet unreliable water allocations and overreaching regulations continue to hurt our farmers and our community,” said Rep. John Duarte R – Calif.  ”We can do better,
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Draghi calls for €800bn EU investment boost

News
Stay informed with free updates Simply sign up to the EU economy myFT Digest — delivered directly to your inbox. Mario Draghi has demanded a “new industrial strategy for Europe”, calling on the EU to raise investments by €800bn a year to fund radical and rapid reform to stop the union falling behind the US
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China’s property market has ‘not found a bottom’ yet, Standard Chartered CEO Bill Winters says

Real Estate
China’s property market has still not found a bottom despite all the turmoil in the past year, according to Standard Chartered CEO Bill Winters. Speaking to CNBC’s JP Ong, Winters described the investing environment in China as “difficult,” explaining that consumer confidence and international investor confidence was relatively low. “We know that the underlying source
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Siebert expands taxable trading with Lori Ciraolo

Bonds
Siebert Williams Shank has brought on Lori Ciraolo to further strengthen its taxable fixed-income team. Ciraolo, who spent more than 17 years at Goldman Sachs, has been hired as a senior vice president in corporate and municipal short-term securities to help expand SWS’ taxable muni franchise through commercial paper trading. “It’s a hybrid role between
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Judge extends litigation stay in Puerto Rico utility bankruptcy

Bonds
The judge overseeing the bankruptcy for Puerto Rico’s government-owned electric utility continued a pause on litigation related to the case as the power provider and its creditors negotiate a possible debt-cutting deal.  U.S. District Court Judge Laura Taylor Swain extended for an additional 30 days the litigation stay through Oct. 8 and ordered the parties
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Activist Ancora joins investors’ calls for a strategic review at Forward Air. Here’s what may happen next

Investing
A Forward Air Corportation truck. Courtesy: Business Wire Company: Forward Air (FWRD) Business: Forward Air is an asset-light provider of transportation services. These transportation services include less-than-truckload (LTL), truckload and intermodal drayage services and freight brokerage and supply chain services across North America, Europe and Asia. Its segments include Expedited Freight, Intermodal and Omni Logistics.
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Nobel winner Joseph Stiglitz says Fed raised rates ‘too far, too fast’ — and now needs to cut big

Real Estate
Nobel Prize-winning economist Joseph Stiglitz says the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting, accusing the U.S. central bank of going “too far, too fast” with monetary policy tightening and making the inflation problem worse. His comments come ahead of Friday’s pivotal release of U.S. jobs data, with investors
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Jobs report offers no definitive clarity on rate cut size

Bonds
The employment report did not settle the 25 or 50 basis point rate cut argument, economists said, as it offered a mixed bag, with lower-than-expected jobs added and downward revisions to previous months’ numbers, while earnings grew and the unemployment rate dipped. Nonfarm payrolls rose 142,000 in August, less than the 165,000 expected, while the
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