Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
How does the minimum wage affect the Fed's biggest fear? I touched on this subject previously as the Fed began its rate-hiking campaign.
As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out.
Credit card balances increased $61 billion in the fourth quarter of 2022 to $986 billion, surpassing the pre-pandemic high, according to an analysis released by the Federal Reserve Bank of New York. It's the most significant debt gain in the history of the New York Fed's data, compiled since 1999.
The end of the Covid emergency comes more than three years after the WHO first issued the declaration in January 2020.
Or to put it another way, the real surprise of 2023 is not that the “risk free” mantra around Treasuries is cracking — but that it has remained in place for so long, given America’s political dysfunction. Investors should worry.
Fed’s Balance Sheet Plunges by $230 Billion in 6 Weeks, Biggest such Plunge in 14 YearsMay 5, 2023 - 07:32:20 PDT
Massive gyrations on the balance sheet after FDIC’s take-down of First Republic, sale of its assets to JP Morgan, and FDIC’s loan to JPM.
Investors are likely to favor gold and technology stocks as those bets are expected to provide a buffer against the possibility of a US recession this year, according to strategists at JPMorgan Chase & Co.
Gold headed for its biggest weekly advance since the middle of March as renewed worries about the US banking sector fueled bets that the Federal Reserve may have to cut rates sooner than anticipated.
It meant to curb borrowing in the U.S. and control inflation but instead unleashed something that may be more destabilizing.
Ahead of today's jobs report, which we previewed earlier and where median consensus expects a drop in payrolls to 185K (which would be the lowest since 2021) with unemployment rising to 3.6%, many joked that at this point the job report is so rigged and "adjusted" that Biden's Dept of Labor may as well just keep going with fabricated numbers until the 2024 election.
Bond traders eyeing the deepening rout in US regional bank shares concluded Thursday that the Federal Reserve is likely to reverse this week’s quarter-point interest-rate increase by July in response to tightening credit conditions.
Global equity funds suffered massive outflows in the week to May 3, hit by weak economic data and worries over a recession as investors were fretted about the likelihood of interest rates staying higher for an extended period.
Global food prices rose for the first time in a year, just as the rampant run-up in grocery costs begins to cool in some countries.
Investors are making their best guesses at which banks are in the worst shape in the S&P 500 and out. But new data paint a clearer picture of where the pain is.
Billionaire Investors Scared About More Bank Failures: Wer’e Running Out of Time to Fix This ProblemMay 5, 2023 - 05:31:31 PDT
Bill Ackman, Nelson Peltz, and Jeffrey Gundlach all think the Fed is wrong about the banking system.
Billionaire Stanley Druckenmiller Says a Hard-Landing Recession Is in the CardsMay 5, 2023 - 05:28:34 PDT
Many financial experts are talking up the prospect of a recession hitting this year and one legendary investor agrees with that line of thought. “We’re gonna have a hard landing and a bad recession in the U.S,” Stanley Druckenmiller has said, “probably sometime later this year.“ Druckenmiller now manages his investing affairs through his Duquesne Family Office...
The Fed's aggressive interest rate hikes have eroded the value of bank assets such as government bonds and mortgage-backed securities.
If Jamie Dimon was pondering a career change as a fortune-teller, he’d be wise to stick to the day job. On the other hand, if someone of Dimon’s stature could be so wrong about the banking turmoil that continues to sweep across the US, a cynic might ask whether he was still the right person to be running one of the world’s largest financial institutions, particularly when that organisation is right at the centre of Government-led efforts to prop up the whole system.
The prospect for global earnings growth this year is dim despite better-than-expected first-quarter results in the US and Europe, according to strategists at Goldman Sachs Group Inc. and Bank of America Corp.
Higher interest rates and falling demand for consumer goods have led to diesel demand falling, leading analysts to warn of a recession.