Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Essentially, the Debt Supercycle is the decades-long growth of debt from sustainable levels to a point where bond markets rebel and the debt must be restructured, or austerity or..
Near-Term Inflation Expectations Tumble To 2-Year Low As Economic Outlook WorsensJun 12, 2023 - 08:50:31 PDT
If Powell was on the fence about a Fed "hawkish skip" or whatever the June pause is now called, the latest monthly data just released by the NY Fed Consumer Survey should help allay his fears.
Cen Banks Will Provide Less Support in Future Downturns: Fed Ex-vice Chair ClaridaJun 12, 2023 - 08:06:41 PDT
Central banks will provide less policy support in economic downturns than they have done previously, former Federal Reserve vice chair Richard Clarida said at an event on Monday. "We think we're going to be in a world in which, at the margin, there's probably going to be less policy support provided in economic downturns than we've seen... We're seeing some early evidence of what we call (quantitative easing) fatigue," Clarida, now an economic advisor at PIMCO, said at a press event organised by the asset manager.
The Biden Administration can count on Wall Street to celebrate meaningless economic data and bogus GDP growth with steep rallies, even as the visible economy continues to implode.
The World Gold Council's sixth annual central bank gold reserves survey reveals that among the 57 central bank respondents, 24% anticipate increasing gold reserves over the next 12 months, demonstrating a robust outlook for gold.
Jun 12, 2023 - 07:45:59 PDT
As demonstrated, gold trading in renminbi on the SGEI can be compared to offshore gold trading in the London Bullion Market with US dollars. As such, the SGEI is part of China’s ambitions to internationalize the renminbi to the detriment of the dollar.
Gold prices rose on a weaker dollar as investors positioned for key U.S. economic data and clues on the Fed's interest rate path at its meeting this week.
A poll from the Cato Institute indicates that, while about half of Americans do not have an opinion regarding whether the Federal Reserve should “begin offering a government-issued digital currency, called a ‘central bank digital currency’ (CBDC),” among those with an opinion on the matter over twice as many — 34 percent of poll participants — oppose the prospect as support it — 16 percent.
Jun 12, 2023 - 06:18:21 PDT
Doomsayers have called the death of cryptocurrency many times since Bitcoin launched 14 years ago. This week provided another opportunity after the Securities and Exchange Commission accused two leading exchanges of violating a slew of U.S. laws.
Since the repo crisis, as Uncle Sam’s twin deficits expanded at a fairytale pace alongside rising rate policies which neutered the price of sovereign bonds and hence the balance sheets and the life-cycles of regional banks, the Humpty-Dumpty US arrived at yet another climatic debt-ceiling reality-check.
Jun 12, 2023 - 06:10:03 PDT
Whether the economy buckles enough to tip into a recession is an issue that has tormented officials at the Fed since they began aggressively lifting interest rates in March 2022. In just over a year, the Fed has raised its benchmark rate over 5 percentage points to the highest level since 2007, changes that take time to affect the economy.
Inflation Hawk Larry Summers Warns the U.S. Economy Is Still ‘Very, Very Hot’Jun 12, 2023 - 06:07:20 PDT
Former U.S. Secretary of the Treasury Lawrence Summers doesn’t think the U.S. fight against inflation is over yet.
Fed’s Fight Against Inflation Hasn’t Caused a US Recession Yet but Could Lead to a Global DownturnJun 12, 2023 - 06:02:30 PDT
The Fed's interest rate hikes could have economic consequences well beyond US borders, according to a World Bank report.
Federal Reserve Chair Jerome Powell finds himself in a place no central banker wants to be: working to avert [a credit crunch], which calls for looser monetary policy, while fighting high inflation, which demands the opposite.
Central bankers, who once considered obscurity central to their craft, are trying to wean the world from the predictability they've nurtured over 15 years of concrete guidance about their intentions and return to a time when policy starts, stops and occasional surprises were more the norm.
Leveraged investors boosted their net-short two-year Treasury positions for an eleventh straight week in the period to June 6, the latest Commodity Futures Trading Commission figures compiled by Bloomberg showed. That’s the longest run on record, according to data going back to 2006.
Consumers, businesses and local governments are looking to deleverage—diverting income to pay down debt instead of spending and investing.
A credit “contraction is invariably coming,” Soros Fund Management Chief Executive Officer Dawn Fitzpatrick said at this week’s Bloomberg Invest conference, adding that additional banks will fail because “there are more problems under the surface.”
The risks for bond investors from next week’s Federal Reserve meeting go well beyond whether officials decide to raise interest rates again.
China’s economic recovery showed further signs of weakening in May, clouding the outlook for the rest of the year and fueling calls for more central bank stimulus. Trade figures this week were the latest to show the economy’s weakening outlook. Both exports and imports contracted in May from a year ago, a sign of subdued global and domestic demand.