Daily Reads 9/03/2019
Hi, everyone. We hope you had a great Labor Day weekend. We wrap up the weekend looking at the economy’s performance. A contraction of manufacturing in the U.S. might be an indicator of bigger changes to come. With all the controversy over the U.S. trade war with China, what will be the cost to you this year? We take a close look at the trends of minorities and credit, and the troubling reasons as to why they are not accessing it for themselves. And the 10-year treasury yield dives to a 3-year low, following the contraction of manufacturing.
It’s Labor Day, when the Summer winds down, and we celebrate the American worker. Given the importance of Labor to the economy, it is a good day to assess how well they are doing.
U.S. factory activity unexpectedly contracted in August for the first time in three years as shrinking orders, production and hiring pushed a widely followed measure of manufacturing to its lowest level since January 2016.
A new wave of tariffs by the Trump administration went into effect on Sunday, rendering the majority of goods imported to the United States from China subject to import taxes.
Decades of discrimination by the federal government and America’s financial institutions has induced an almost trauma-like response in many people of color, particularly African Americans, making them less likely to seek credit.
The yield on the benchmark 10-year Treasury note dove on Tuesday to its lowest level since 2016 after a report on the U.S. manufacturing sector showed that the industry contracted in August.