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With inflation pressures continuing to rise even as record amounts of fiscal stimulus begin to wear off and the economy clearly slows, however, an earnings recession over the next several quarters should also come as no surprise.
World food prices rose for a second consecutive month in September to reach a 10-year peak, driven by gains for cereals and vegetable oils, the United Nations food agency said on Thursday.
The global supply chain is slowing down at the very moment when Americans are demanding that it go into overdrive. This is the economy now. One-hour errands are now multi-hour odysseys. Next-day deliveries are becoming day-after-next deliveries. That car part you need? It’ll take an extra week, sorry. The book you were looking for?...
Global debt levels could reach about 260% of gross domestic product by year-end, though low interest rates mean the ability to service it will be manageable, according to S&P Global Ratings.
President Joe Biden’s selection of a new Federal Reserve chair grew more complicated in the last week as Congress quarrels over spending, taxes and debt, while a scandal over stock trades by some top officials under Jerome Powell’s leadership could damage his prospects.
The jump in global food prices to a decade high risks leading to even more expensive grocery bills, and the energy crisis is threatening to make things even worse.
‘Containergeddon’: Supply Crisis Drives Walmart and Rivals To Hire Their Own ShipsOct 7, 2021 - 07:03:33 PDT
"Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, U.S. executive vice president of supply-chain operations at Walmart, which has hired a number of vessels this year.
Total Claims Collapse To Just 4.2 Million, Down 20 Million From A Year Ago, As Pandemic Benefits EndOct 7, 2021 - 05:43:17 PDT
But more importantly, now that all emergency benefits have expired, the end of the welfare state is being felt far and wide and after printing regularly above 12 million for much of the summer, and around 25 million a year ago...
Elliott Management Predicts the Fed Will Launch an ‘Electronic Dollar’ That Will Crush CryptoOct 7, 2021 - 05:36:57 PDT
"The whole space kind of infringes on the domain that has traditionally been the space of the sovereign," said Jonathan Pollock, the co-CIO and co-CEO of Elliott, at Bloomberg's Invest Global summit Tuesday. "It's hard for us to invest something that could effectively be regulated out of existence with a stroke of a pen," he said.
The Bank of England’s new chief economist says the current spike in U.K. inflation looks set to last longer than originally thought, in comments that may boost speculation that interest rates may be about to rise.
"The biggest risk to a firmer dollar index probably comes from any substantial re-assessment of inflation risk from the European Central Bank," ING strategists said in a note.
Evergrande’s collapse is a sign of deeper weakness, just when Xi is impatient to challenge the U.S.
Peter Schiff says we're living in a financial twilight zone.Despite signs of persistent high inflation, gold continues to languish. Peter talked about what's going in this bizarro economy during his podcast.
Oct 7, 2021 - 05:11:23 PDT
The $ 22 trillion Treasury market forms the basis for pricing other assets around the world. It is famous for its liquidity, a broad term that means it is easy to get in and out of trades. But on several occasions since the first Covid-19 hit, liquidity gaps have appeared, creating sharp price movements.
Euro zone bond yields rose as a government bond sell-off driven by concerns about inflation lingered on Wednesday, although yields gave up much of their earlier rise as U.S. Treasury yields fell by late London trade.
The crunch has many causes—from the post-pandemic boom to supply-chain strains and ambitious targets for reducing carbon emissions. And it is expected to last at least through the winter, raising fears in many countries of fuel shortfalls in the months ahead.
King dollar will dominate currency markets in the near term before ceding ground to its peers in a year, found a Reuters poll of FX strategists who said U.S. Treasury yields would give the greenback the most direction over the next 12 months. Bolstered by the U.S. Federal Reserve’s tapering plans and a growing chorus of Federal Open Market Committee...
International Monetary Fund chief Kristalina Georgieva on Wednesday said the law firm WilmerHale mischaracterized her actions while serving as CEO of the World Bank, and assured her that her participation in its investigation was confidential. In a detailed statement to the IMF executive board, a copy of which was seen by Reuters, Georgieva...
Biden Wants IRS To Monitor People’s Bank Accounts - ‘inflows' and 'outflows' above $600.00Oct 7, 2021 - 04:48:01 PDT
A Biden administration proposal calls for banks to report aggregated 'inflows' and 'outflows' above $600
Dow Futures Jump 270 Points in Relief Rally As It Appears Congress Will Avert a Government DefaultOct 7, 2021 - 04:42:42 PDT
U.S. stock futures rose early Thursday morning after the Dow reclaimed a 459-point loss on Wednesday as concerns about a debt ceiling deal eased.