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- Examining the Fed survey of consumer finances
- UK households £13,961 worse off on bills since 2021
The TUC estimates UK households have paid an extra £13,961 on bills on average since 2021, or £2,792 a year, amid soaring inflation and a difficult backdrop including the Covid crisis, war in Ukraine and war in Iran. TUC general secretary Paul Nowak said working people have borne the brunt of successive crises and that high bills are squeezing consumer spending and holding back the economy. A Resolution Foundation study found working families are £2,900 a year worse off over the past five years compared with inflation at around 2 per cent a year. Its chief economist James Smith said any new help must be targeted at the poorest families, starting with energy bills, as public finances leave less room than ever to provide support.
- Living on Hail Marys
The column reflects on how the Philippines has repeatedly faced economic crises tied to political turmoil, from the 1983 debt crisis to coups and leadership changes, and now faces added pressure from a global geopolitical crisis. Citing First Metro Securities' Estella Villamiel, GDP growth averaged 2.6% year-to-date in 2026, one of the weaker periods outside the pandemic era. Household consumption remains the main driver but its contribution has moderated, capital formation is the primary drag on growth, and government spending and exports provide support. The fiscal deficit reached 5.8% of GDP in the first half, government debt is about 66% of GDP, and international funding is getting harder to secure. Household demand has softened in recent quarters, according to consumer sentiment, retail and vehicle sales data.
- US Familie Income Uncertainty Reaches Record 37 % Despite More Normal Recent Earnings , Fed Data Show
The Federal Reserve's 2025 Survey of Consumer Finances, released on 9 October 2026, found that a record 37% of US families lacked a good idea of their income for the following year, up since the 2019 survey. Even so, the share of families reporting unusually high or low income fell from 28% in 2022 to 23% in 2025, and real median family income rose 7% from 2021 to 2024, to $82,200. Over the same period, the unemployment rate rose from 3.7% to 4.2%, and the share of families with overdue loan payments climbed from about 12% to almost 20%. Meanwhile, the University of Michigan's preliminary consumer sentiment index fell to 46.3 in October 2026, and the report does not establish why families became more uncertain or whether they were unemployed or facing income losses.
- U . S . Families 75 and Older See Median Net Worth Rise 37 % as Youngest Fall 23 %
Federal Reserve data show U.S. family net worth moved in opposite directions across age groups from 2022 to 2025. The median net worth of all families reached $215,900, up 2% from $211,100 in 2022. For families with a reference person under 35, the median fell 23% to $33,000 and the mean fell 33% to $135,400, mainly due to a pullback in business-equity values. By contrast, the median for families aged 75 and older rose 37% to $504,900, mainly due to rising retirement-account values, above the $431,300 median for ages 65 to 74. All figures are in 2025 dollars, and the survey does not track individual families between waves, so it does not show what happened to any one family.
- Inflation ticking time bomb : The Fed eyes another hike as gas and heating oil prices spike are you ready for what coming ?
US consumer prices rose 3.7% year on year in September, with the monthly increase accelerating to 0.6% from 0.4% in August. Gasoline jumped 9.1% in the month, accounting for over half the rise, and heating fuel oil climbed 15.3%; the article ties the energy surge to the war in Iran. A Reuters/Ipsos poll found 78% of Americans blame President Trump's policies for the higher cost of living, ahead of the November midterms. CME FedWatch puts the chance of a 25-basis-point hike at the Oct. 28 Fed meeting at about 15%, while the Atlanta Fed shows over 90% odds of another hike by December. The article advises households to track essentials, cut unused subscriptions, use fuel-saving apps and rewards, and move cash into high-yield savings or CDs.
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- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
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