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Inflation and Delta Risks Are Contributing to a Critical ‘Inflection Point’ on Wall StreetJul 27, 2021 - 05:20:20 PDT
The Federated Hermes chief equity market strategist is blaming the risk dynamic. Not only does Orlando see hotter-than-expected inflation and the Covid-19 delta variant as glaring issues, he’s also worried about uncertainty surrounding monetary and fiscal policy.
Hong Kong’s Hang Seng Index Falls More Than 8% in Two Days As China Tech Stocks Continue To CrumbleJul 27, 2021 - 05:19:06 PDT
Major Chinese tech stocks in Hong Kong fell further on Tuesday, adding to major losses seen the previous trading day.
Global Shipping Industry Disrupted Again, This Time by Floods in Europe and ChinaJul 27, 2021 - 05:17:15 PDT
The floods in China and Europe are yet "another body blow" for global supply chains, the CEO of a shipping firm told CNBC on Monday.
U.S.-China Rivalry May Solidify ‘Like a Hard Concrete’ After Latest Meeting, Says AnalystJul 27, 2021 - 05:16:06 PDT
Officials from both countries set "unreachable" demands for each other when they met in the Chinese city of Tianjin, said Scott Kennedy of CSIS.
China Is Still Falling Short of Meeting an Agreement To Reduce Its U.S. Trade SurplusJul 27, 2021 - 05:13:52 PDT
While Biden has yet to lay out a trade strategy, China still falls short of meeting the phase one deal, says the Peterson Institute for International Economics.
U.S. Treasury yields fell on Tuesday morning, as the Federal Reserve is set to kick off its two-day policy meeting.
MUST SEE CHART: There Are More Silver Eagles Held By Investors Than Silver Inventories At The SLV ETF Or The COMEXJuly 27, 2021
Smart silver investors now hold more Silver Eagles than the total inventories at the iShares SLV ETF or the COMEX. For the past 36 years, since 1986, investors have been buying every Silver Eagle issued by the U.S. Mint. With over a half-billion Silver Eagles now held by private investors, less than 1%
Gold edged lower on Monday as investors turned cautious in the run-up to a Federal Reserve policy meeting, overshadowing some support from a weaker dollar.
The dip in Treasury yields last week helped boost the appeal of the non-interest-bearing metal.
We should note that the current inflation is very different from the one of the 1970s. That was self-perpetuating to the extent wages and prices drove each other higher in a seemingly endless spiral.
And Now The Hangover: Goldman Sees Sharp Deceleration In US Economic Growth In 2022Jul 26, 2021 - 12:47:56 PDT
It was good while it lasted, but the party is finally ending.
Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.
The internationalization of Chinese yuan accelerated in 2020 despite the ravaging global pandemic and the US government's containment of China's growth. Experts predict there exists great room for the currency's further internationalization, calling for convenient flows of the yuan and expansion of cross border investment avenues.
Jul 26, 2021 - 12:31:29 PDT
Real 10Y Treasury Yield Falls To -3.92% While Real 30Y Mortgage Rate Falls To -2.61%). The rate, which strips out inflation, fell almost six basis points to minus…
Markets Starting To See ‘Lunatic’ Fiscal Policies Coming Out of White HouseJul 26, 2021 - 11:42:36 PDT
Economist Stephen Moore discusses the markets’ reaction to the Biden administration’s "lunatic" fiscal policies during an appearance on "Varney & Co." Monday, saying he’s "a little more pessimistic" about the country’s economic recovery amid Democrats' big spending push.
Economists are sharply divided over whether President Biden’s $3.5 trillion infrastructure package will exacerbate inflation pressures that are already the most severe in decades.
BlackRock Move Sends Record $1.4 Billion to Inflation-Hedged ETF: BloombergJul 26, 2021 - 11:33:48 PDT
A tweak to BlackRock Inc.’s model portfolios has triggered a record inflow for the biggest exchange-traded fund protecting investors from inflation.
Jobless Americans Sue Florida for Ending $300 Unemployment Benefits EarlyJul 26, 2021 - 11:28:48 PDT
Out-of-work Americans in Florida filed a lawsuit against Republican Gov. Ron DeSantis on Monday seeking to reinstate a pandemic relief program that paid out an extra $300 a week in unemployment benefits.
Millions Of Renters Face 'Unprecedented Spike' In Evictions As Moratorium ExpiresJul 26, 2021 - 11:26:26 PDT
The federal ban on evictions, which has been in place through most of the pandemic, is one of a raft of emergency programs set to end despite officials sounding the (perpetual) alarm over the Delta variant.
Politicians Love Their Power to Goose the Economy and Stocks but It Comes at a High Price: MWJul 26, 2021 - 10:50:59 PDT
Modern Monetary Theory is politically popular but the wealth it creates is precarious. In this context, the attractions of Modern Monetary Theory (MMT) for politicians irrespective of ideology are obvious. It allows near-unlimited spending financed by central banks and money printing, largely avoiding the scrutiny and discipline of markets and bond vigilantes. The promise of full employment, an expansion of government services and resurgent prosperity is irresistible.