Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Aug 6, 2021 - 08:17:25 PDT
The effort could apply to institutions as varied as long-term care facilities, cruise ships and universities, potentially impacting millions of Americans, according to the people, who spoke on the condition of anonymity to discuss sensitive conversations.
Money flows into U.S. bond funds jumped in the week to Aug. 4, as investors rushed towards safety on fears over the rapid spread of the Delta variant of COVID-19 and slowing manufacturing activity.
Strong corporate earnings have sent stocks on something of a tear in recent weeks. But credit markets are painting a more nuanced picture amid growing concerns of a coronavirus resurgence. Less than a month removed from the tightest spreads of the post-financial crisis era, risk premiums for speculative-grade debt are climbing once again. Bonds of companies hurt most by shutdowns have sold off...
Yes, More People Went Back to Work in States that Ended the $300/Week in Fed Unemployment BenefitsAug 6, 2021 - 07:20:05 PDT
In an economy screaming for labor, the data is becoming clearer, despite breathless media coverage to the contrary.
Stocks tied to the economic recovery rose on Friday after the release of the July jobs report.
Gold prices slid to their lowest in more than a month on Friday after a strong U.S. jobs report boosted expectations the Federal Reserve could begin tapering its economic support sooner than previously anticipated.
Gold was solidly above $1,800 an ounce this week until Fed Vice Chair Richard Clarida mentioned the economy reaching the Fed's goals earlier than expected and raised the specter of monetary policy tightening. But is the economy really improving as much as everybody seems to think? In this week's Friday Gold Wrap, host Mike Maharrey digs into some of the economic numbers and determines they're faking it.
The hiring blitz at bars, restaurants and hotels continued in July and led the U.S. to yet another robust month of employment gains.
The US Trade Balance shows the deficit and surplus of US trade for Imports and Exports. A deficit occurs when Imports are greater than Exports. When the Trade Balance is in deficit (which it has been for decades), it accounts for one of the two components of the Twin Deficits. The Fiscal Deficit accounts for the other component and was reviewed in a previous article.
July Payrolls Beat Expectations Rising 943,000 As Unemployment Rate TumblesAug 6, 2021 - 05:37:27 PDT
With consensus expectations calling for a July payrolls print of 858K and whisper numbers starting at 1 million and rising (and Goldman going so far as expecting 1.175MM), moments ago the BLS reported that in July payrolls came in at a goldilocks 943K, comfortably beating the consensus but below a print that could be considered a clear trigger for “substantial...
The Oaktree co-founder said what has been obvious to most - even if it carries high career risk in saying it in public - that “we’re in an everything bubble" adding that "I don’t say today, but let’s not miss the opportunity to let the rates float back up."
Aug 6, 2021 - 05:33:20 PDT
What would it mean for the dollar to lose its global reserve status? Why might it happen? And what could take its place?
China is already “racing ahead” with development of a digital yuan, while 14 other countries, including Sweden and South Korea, are in the pilot stage with their CBDCs. Five countries have now fully launched a digital currency, starting with the delightfully named Bahamian sand dollar. The US is furthest behind among the biggest four central banks, the tracker notes. Moreover, Jay Powell, Fed chair, explicitly says there is no “need to rush”.
Biden Could Start Reshaping the Fed Next Month – And Progressives Will Want a SayAug 6, 2021 - 05:28:45 PDT
The future of the Fed is up for grabs with Wall Street pushing Biden to reappoint Chair Jerome Powell and progressives calling for a fresh face.
The White House is taking sides in the crypto amendment battle roiling Congress.
(Bloomberg) -- Senator Joe Manchin, the West Virginia Democrat, urged Federal Reserve Chair Jerome Powell to start pulling back on its $120 billion in monthly bond purchases aimed at providing stimulus to the economy by lowering borrowing costs.“I am deeply concerned that the continuing stimulus put forth by the Fed, and proposal for additional fiscal stimulus, will lead to our economy overheating and to unavoidable inflation taxes that hard working Americans cannot afford,” Manchin wrote in a l
The pandemic housing boom has pulled more than 1 million U.S. homeowners out of a debt trap that many had been stuck in since the great financial crisis more than a decade earlier. The number of homes that are considered seriously underwater -- meaning that loans secured by the property are at least 25% higher than its market value...
Infrastructure Bill Would Add $256 Billion to Deficits Over a Decade, CBO SaysAug 6, 2021 - 05:06:37 PDT
Senators were waiting on the CBO score as they wrap up amendment votes and the infrastructure bill moves toward final passage.
The World’s Largest Container Shipping Firm Posts Soaring Second-Quarter EarningsAug 6, 2021 - 05:01:21 PDT
Maersk has posted a sharp increase in second-quarter earnings as congestions and bottlenecks continue to drive up shipping rates.
Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.