Precious metals news

An extended period of high interest rates and an inverted yield curve could put more stress on banks, but would be necessary if inflation stays stubbornly high, Minneapolis Federal Reserve President Neel Kashkari said on Thursday.

JPMorgan Chase & CO CEO Jamie Dimon said on Thursday the bank is convening weekly meetings to discuss the implications of a potential U.S. default, according to an interview on Bloomberg TV.

In Washington debt-ceiling brinkmanship is threatening to push the US into default. And on Wall Street, traders are gaming out what could be a rare Black Swan event.

A surge in stock offerings could be coming to a market that badly needs it as Corporate America hustles to raise cash while the banking crisis appears to be somewhat under control and before the US debt ceiling deadline hits as soon as early June.

Recently, several large corporations have made self-destructive moves.

Overall, this was another solid auction which managed an impressive stop through despite the sharp run up in bond prices (and drop in yields) into the 1Pm auction deadline amid growing recession fears.

Bankrate’s 30-year mortgage rate is down slighty to 6.89%, but that masks the reality that mortgage rates were only 2.88% when Biden was sworn in as President. That is a staggering increase of 140 in the 30-year mortgage rate.

Turned upside-down since late 2008 with QE and interest rate repression, it still hasn’t been turned right-side up.

A few days ago I wrote about the suffering of America’s middle class under Biden’s Reign of (Economic) Error. Housing is far more expensive under Biden as are energy prices, car prices, food prices, and auto loan rates. Biden’s economy is truly unaffordable for millions of Americans.

Ball in Biden's Court... the debt ceiling clock is ticking away. And the onus is now on Democrats to so something.

We can all pretend to be fantastic until the floor collapses beneath us. At that point, complacency / denial gives way to panic, but it's too late to effect any realistic reversal of fortune.

Gold is on the precipice of hitting its highest price on record as investors turn to the safe-haven asset amid a rocky macroeconomic environment, and analysts believe the precious metal could have much more room to run—thanks in no small part to the potential recession looming ahead.

Investors are racing to buy gold and that's bad news. It means they're terrified.

Gold eased into a tight range on Thursday as a stronger dollar countered support from weaker-than-expected U.S. economic data, which reinforced bets for a pause in the Federal Reserve’s rate hikes and added to wider economic risks.

Global demand for gold among investors is growing this year thanks to turmoil in the banking sector, geopolitical tensions and a challenging economic environment, leading more people to flock to the precious metal as a safe-haven asset, says the World Gold Council (WGC).

And just like that, the job market has finally cracked.

A summer laced with economic strains looms for the world’s richest economies.

The trend is both a sign of how fragile the US economy has become and a failure of the bankruptcy system, considered among the best in the world. Its focus on rehabilitating troubled companies rather than quickly winding them down saves thousands of jobs each year — but it assumes that pausing debt collection, tearing up costly contracts and forcing losses on creditors is more than just a way to delay inevitable liquidation.

A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy.

While we at the SEC have no direct role in those discussions, the outcome is directly consequential to each part of our mission: protecting investors, facilitating capital formation, and maintaining fair, orderly, and efficient markets. We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to monitor for any additional tremors. If the U.S. Treasury as an issuer were actually to default, it would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike. In a word, it would make the Cyclone Roller Coaster at the 1933 Chicago World’s Fair look like a kiddie ride.