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China Gold-Buying Spree Signaling More Central Bank De-dollarization: UpdateJun 8, 2023 - 06:38:21 PDT
That movement picked up pace after the greenback became weaponized against Russia in the wake of the Ukraine invasion, a punitive measure that pushed other countries to rethink their reliance on the US currency.
Gold prices rose on Thursday on a slight pullback in the U.S. dollar but investor caution surrounding the Federal Reserve's interest rate strategy and other economic cues that may influence it kept bullion hemmed in a relatively tight range.
The dollar fell slightly on Thursday from near three-month highs, a day after a surprise rate hike from the Bank of Canada suggested the Federal Reserve may also have more work to do to combat inflation. That was despite data showing that the euro zone economy slipped into a mild recession in the first quarter...
My guest for this episode is Joseph Wang. Joseph is one of the most knowledgeable people I’ve come across when it comes to the world of central banking and how it intersects with markets. His experience on the open markets desk at the New York Fed gives him unique insight into the inner workings of the financial system and...
Jón Helgi Egilsson, a former chairman of the Icelandic central bank, urged his former counterparts to "embrace competition" on CBDCs.
For U.S. officials, what happened to Silicon Valley Bank seems to have an easy solution: Merge regional lenders together and regulate them as strictly as megabanks. The kink in the plan is that Credit Suisse also failed spectacularly.
My other forecast was that a huge tsunami of Treasury issuances would swamp markets, making the lifting of the debt ceiling no certain reason to rise for stocks. Within just a couple days of signing to raise the ceiling, hundreds of billions of dollars in new debt that I said would have to come pouring through already did — a massive rush of new issuances to make up for lost time.
Some of China’s biggest banks lowered rates on a range of deposit products, responding to the government’s call for help in boosting growth in the world’s second-largest economy.
Japan's finance minister said on Wednesday the government must look into whether it can buy the central bank's huge holdings of exchange-traded funds at book value, following a proposal that they be used to distribute wealth to the younger generation. The proposal came from an opposition lawmaker, though Prime Minister Fumio Kishida has made wealth distribution among key policy agendas in his efforts to boost Japan's growth potential.
House Speaker Kevin McCarthy called off votes for the remainder of the week and sent lawmakers home as a revolt by Republican hard-liners halted business in the chamber for a second day.
The Goliaths of US banking are getting even bigger after a series of regional lender failures funneled assets into giants such as JPMorgan Chase & Co., according to an analysis by S&P Global Market Intelligence.
Global bonds are slumping after two shock interest-rate hikes this week served traders a reality check that central banks are far from done fighting inflation.
Initial jobless claims surged last week to 261k (up from 233k prior and well above the 235k exp) - its highest since Oct 2021.
Is the ‘totalitarian tip-toe’ turning into a gallop?
The End of Easy Money: Bankruptcy Filings Pile Up at Fastest Rate since 2010Jun 8, 2023 - 05:43:24 PDT
A cleansing process, long overdue, to whittle down the corporate debt overhang and clear out deadwood, at the expense of investors.
U.S. investor Stanley Druckenmiller, chairman and chief executive officer at Duquesne Family Office, said he still expected a hard landing for the U.S. economy - a scenario where the Federal Reserve's rate-hiking pushes the economy into a recession.
Jun 8, 2023 - 05:31:43 PDT
The fixed-income investor pointed to delivery delays dropping to a 30-year low as a sign of weakening demand in the US economy, per CNBC.
The euro zone entered a recession in the first quarter of this year and economists are not optimistic for the coming months.
Borrowing costs in government bond markets rose and share markets stalled on Thursday after a surprise interest rate hike in Canada gave investors their second reminder of the week that the surge in global interest rates isn’t done yet.
Fed Easing Cycle to Kick off a Multi-Year Dollar Bear Trend Later This Year: IngJun 7, 2023 - 13:10:24 PDT
Our baseline view in FX markets is that the Dollar over the coming months will be entering a cyclical bear trend. This is premised on tighter US credit conditions adding to tighter monetary conditions and delivering the long-awaited US disinflation story.