Daily Digest

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Daily Digest 11/1 - ACA Enrollment Period Cut In Half, IMF Forecasts Deficit For Mideast Oil Exporters

Wednesday, November 1, 2017, 12:02 PM

Economy

Health care signups start Wednesday; enrollment period cut in half

"We are going to see a decline in enrollment," he added. "The people who will drop out in droves are the ones who are not getting a premium subsidy.".....In states served by the HealthCare.gov website, premiums will go up 37 percent for a hypothetical 27-year-old picking a standard plan called "second-lowest cost silver," the Health and Human Services department reported Monday.

IMF forecasts $320 bln deficit for Mideast oil exporters

The Middle East’s oil producers are bracing for continued pressure from lower oil prices, with the International Monetary Fund projecting cumulative budget deficits of $320 billion over the next five years, according to a new report released on Oct. 31.

U.S. Treasury expects to borrow $275 billion in fourth quarter

The Treasury Department said in a statement it expects to issue $275 billion through credit markets during the period, assuming an end-December cash balance of $205 billion. It also expects to issue $512 billion in net marketable debt in the first quarter.

Savings rate hits lowest point since financial crisis as Americans take on more risk

The savings rate in September fell to 3.1%, according to Commerce Department data released Monday. That's the weakest level since December 2007, just as the U.S. economy was entering the worst of the financial crisis amid the Great Recession. The August savings rate was 3.6%.

BOJ Maintains Bond Purchases in November After CPI Forecast Cut

The central bank is projected to buy about 7.45 trillion yen ($65.9 billion) of government bonds based on the midpoints of purchase ranges for the maturities listed in its statement Tuesday. Based on the same calculation method, it was projected to buy 7.55 trillion yen for October, though it ended up purchasing 7.74 trillion yen.

You Wanna See Something Really Scary? Try These Market Charts

From sky-high equities with barely a hint of volatility to cryptocurrencies that only seem to rise and concerns that the Fed’s been too loose for too long, here are some of the things that spook the professionals:

Mizuho plans job cuts as Japan's megabanks embrace AI, robots

Amid a drive towards greater efficiency and higher profits, artificial intelligence (AI) and robot technology are increasingly replacing roles typically handled by thousands of bank employees. Mizuho Financial Group is planning to cut 19,000 jobs over the next 10 years or so.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/31/17

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
"I think the Affordable Care Act has lost its meaning,"

Health insurance premiums spike in Kentucky, Indiana

WAVE 3-10 hours ago
LOUISVILLE, KY (WAVE) - Open enrollment for the Affordable Care Act started Wednesday, and thousands in Kentucky and Indiana faced double-digit rate ...

Valerie Reeves is an insurance agent and the owner of Preferred Benefits in Louisville.

"I think the Affordable Care Act has lost its meaning," Reeves said. "A lot of employers are looking at this saying, 'Valerie, I don't know how much longer I can afford this.'"

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