Debt Markets Flash Recession Warning Signs

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 31 May 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for May 31. The stock market may be riding high, but down below, debt markets are creaking under the strain of rising interest rates. WSJ credit reporter Matt Wirz explains whether worrying trends in real estate, consumer debt, and bankruptcies spell trouble for the broader economy. Plus, House committee members advance a deal to raise the U.S. debt limit. And China warns of AI’s risks as it invests billions into the technology. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This May and June enter to win the buy side from the Wall Street Journal,
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0:06.4	Elevate your summer with a selection of buy side reviewed and approved products.
0:10.0	No purchase necessary in June 30th, 2023 for official rules and to enter to win,
0:13.6	visit buysidesummersweeps.com.
0:19.2	House committee members advance a bill to raise the US debt limit.
0:24.0	Plus credit markets, flash warning signs for the broader economy.
0:28.8	The numbers show that we are headed towards a recession.
0:32.4	Every single time or the last 30 years that we have had credit markets performing
0:38.0	or underperforming the way that they are, we have gone into recession.
0:42.3	And China warns of the risks associated with AI as it invests billions into the technology.
0:49.7	It's Wednesday, May 31st. I'm Luke Fargis with the Wall Street Journal,
0:53.5	and here is the AM edition of What's News.
0:56.8	The Top Headlines and Business Stories Moving Your World Today.
1:06.0	The debt ceiling deal struck between House Republicans and President Biden
1:09.9	has cleared a closely watched procedural hurdle, advancing through the House Rules Committee
1:15.6	late Tuesday and setting it up for a final House vote as soon as tonight.
1:20.9	Oklahoma Republican Tom Cole chairs the Rules Committee.
1:24.7	Today's bill is a product of compromise and reflects the realities of a divided government.
1:30.0	We shouldn't allow that to overshadow what this bill accomplishes.
1:34.1	Two Republicans on the committee joined all Democrats on the panel in opposing the debt deal,
1:40.4	including Colorado Democrat Joe Naguze.
	...

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