“Where broader markets remain negative, pressured by inflation and central bank hawkishness in taming prices, we see investors holding fast to gold ETFs as a risk-off haven,” said Hitzeman, whose company offers several precious metals products to investors.
The Fed's QE may be over, and QT may be just starting (it won't last long), but don't think the Fed free money giveaway is ending any time soon. In fact, for a handful of happy, mostly anonymous counterparties, the real free-money bonanza has just begun!
The current high inflation environment is often compared to the 1970s. But perhaps a more apt comparison would be to the 1870s. According to Bank of America, government bonds are on track for their worst year since 1865, the year the U.S. Civil War ended.
Asia’s factories showed a further slide in June as inflation weighed on households, complicated central bank decisions, and added uncertainty to the business outlook.
A sharp fall in new orders weighed on German manufacturing activity in June, darkening the outlook for Europe's largest economy, a survey showed on Friday.
Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine .
China announced another stimulus measure to finance infrastructure projects, part of its push to drive investment and increase employment in the second half of this year as the economy starts to recover from the effects of Covid lockdowns.
(Australia’s two biggest housing markets, Sydney and Melbourne, led a fall in home values during June as rising interest rates further choked buyer demand.
Treasuries began the second half of the year on the front foot Friday as concerns continued to mount that Federal Reserve rate hikes will lead to a recession.
“Today, we face supply shocks in a context of much higher debt levels, implying that we are heading for a combination of 1970s-style stagflation and 2008-style debt crises – that is, a stagflationary debt crisis,” Roubini said.
The risk of a renewed selloff in equity markets is still high as investors are only pricing a mild recession, according to Goldman Sachs Group Inc. strategists.
Investors reeling from the brutal emerging markets selloff over the past six months again fled the rupee as India’s currency hit new lows, prompting the government to curb gold imports and oil exports to arrest a widening deficit.
Euro-area inflation surged to a fresh record, surpassing expectations and bolstering calls for the kind of aggressive interest-rate increases being deployed by central banks across the world.
(Bloomberg) -- Copper sank below $8,000 a ton, hitting its lowest since early 2021, as deepening fears about a global economic slowdown drive a rout in industrial metals.
A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says.
As DB's Jim Reid puts it "if you want the good news this morning it's that H1 is now finally over. If you want the bad news it's that there's not much good news around as we start H2 and US equity futures are already down around a percent in the first few hours of the new half year. "
Inflation remains at a 41-year high and continues to severely pinch households when paying for food, gas and nearly everything else. How much longer will it plague us? And might it get even worse from here? To find out, we welcome Steve Hanke back to the program.
U.S. equities declined on Thursday as the S&P 500 prepared to wrap its worst first half in decades.
Last year, just as it was becoming increasingly clear that price inflation was mounting, Jerome Powell repeatedly denied there was any reason for concern.
Few people are aware of what the Federal Reserve System, acting on behalf of the U.S. Government, is doing to their money, writes Hans Sennholz.