Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Interpretations of Wednesday’s consumer price index data, which in recent months has become as eagerly anticipated as the jobs report, are a reminder of why President Harry Truman once pleaded for “a one-handed economist,” adding that “all my economists say ‘on the one hand,’ then ‘on the other.’” Fortunately, most economists are likely to agree on one conclusion, and it suggests that the heighten
New consumer price index data has helped push the Social Security COLA estimate for next year to the highest it's been since 1983.
Aug 12, 2021 - 05:15:11 PDT
According to a recent Rent.com poll, more than a third of people making $200,000 or more a year aren't fully confident they'll ever be able to afford a house.
Cass Freight Index: U.S. Freight Volumes Return to Pre-Pandemic Levels in July, Costs Go HigherAug 12, 2021 - 05:05:50 PDT
The Cass Freight Index for July shows U.S. freight volumes returning to pre-pandemic levels, but the cost of shipping remains elevated.
Treasury Yields Are Little Changed Ahead of Jobless Claims and Producer Price DataAug 12, 2021 - 05:02:33 PDT
U.S. Treasury yields were little changed on Thursday morning, ahead of the release of July's producer price index and weekly jobless claims data.
The Federal Budget Deficit for July 2021 was 302B which was up 73.4% over June and 16.5% above the TTM average of 238B. The chart below shows the Federal Budget for the previous 18 months.To better understand what is driving the large outlays and receipts, the next two charts break down both sides of the budget into different categories.
With the silver price showing some weakness after it fell below an important technical level, what's next for the shiny metal? Also, what's going on with U.S. Mint Silver Eagle sales this month? Have Silver Eagle sales continued to be strong even with premiums at $9-$10 per coin above spot for the new design?
Gold futures finished sharply higher Wednesday, marking the first back-to-back advance for the commodity in about a month and the sharpest daily rise in two weeks, after investors parsed a reading on U.S. inflation that mostly matched expectations. December gold added $21.60, or 1.2%, to settle at $1,753.30 an ounce, following a 0.3% gain on Tuesday.
Now it’s new vehicles, restaurants, energy. Game of Whac-A-Mole as some price spikes slow while others begin. But it’s a lot worse than it seems.
States are still slow to get federal rental assistance out to households. However, the money is moving faster in some areas of the country than others.
Higher Taxes for the Rich Edge Closer As Democrats Pass $3.5 Trillion Budget OutlineAug 11, 2021 - 12:36:51 PDT
Democrats' budget plan is scant on detail, but would likely raise taxes on wages and reform capital-gains taxes for the wealthy, experts say.
"The Pandemic Recovery Continues To Throw Inflation Models Out The Window"Aug 11, 2021 - 12:29:21 PDT
DB's Jim Reid notes that this has still been a remarkable period for inflation beats and today's data doesn't really reverse much on this front; instead its just that expectations have now adjusted much higher.
U.S. Budget Deficit Hits $2.5 Trillion First Ten Months of Year After Record Shortfall in July: MWAug 11, 2021 - 11:26:26 PDT
The numbers: The U.S. federal budget deficit narrowed to $2.5 trillion in the first ten months of the fiscal year, the Treasury Department said Wednesday. This is down from a $2.8 trillion deficit over the same period last year.
Fed Should Begin Asset Tapering in October, Says Dallas Fed President KaplanAug 11, 2021 - 11:23:58 PDT
Dallas Fed President Robert Kaplan said that the central bank should begin to taper its monthly purchases of Treasury bonds in October.
"Transitory" Inflation Cooling As "Sticky" Heats Up: Here Is The Heatmap From Today's CPI ReportAug 11, 2021 - 11:17:46 PDT
Finally, here are the CPI heatmaps from the July report, first on a M/M basis...
The Fed Accepted $1 Trillion.4 Billion in Fixed Rate Reverse Repo, Breaking $1 Trillion AgainAug 11, 2021 - 11:04:23 PDT
The Fed accepted $1000.4 billion in fixed rate reverse repo, breaking through $1 trillion again after more than two weeks.
NY Fed’s Logan Says New Repo Facilities Should Boost Confidence in Money MarketsAug 11, 2021 - 10:58:21 PDT
A major lesson from the global financial crisis and from the financial shock caused by the coronavirus pandemic is that central banks should maintain the tools needed to quickly address market disruptions caused by firms facing immediate liquidity needs, a senior official for the New York Federal Reserve said on Wednesday.
Aug 11, 2021 - 10:55:18 PDT
The Report points particularly to the disruptions caused by the worldwide “dash for cash” in March 2020, which forced the Board of Governors of the Federal Reserve System to inject hundreds of billions of dollars over just a few days to prevent a “meltdown in financial markets.”
“So we get into that stagflation.” In that scenario, REITs and technology still tend to do well and gold starts to look attractive, he said.
U.S. Government Wants a Greater Role in How Americans Access Internet: WSJAug 11, 2021 - 09:22:34 PDT
Congress on Tuesday advanced legislation that allocates $65 billion in new taxpayer money to expand high-speed internet access for millions of unconnected households—by far the largest allocation of federal funds ever earmarked for broadband.