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Major central banks are standing down from their offer of daily emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about the stability of the global financial system...
Sen. Rand Paul, R-Ky., voices his concerns over the devaluing of U.S. currency on 'Kudlow.'
Stagflation: Q1 GDP Much Weaker Than Expected On Inventory Plunge As Inflation Comes In Red HotApr 27, 2023 - 05:57:39 PDT
Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, had a far more downbeat view. He said that “this morning’s data was the worst of both worlds, with growth down and inflation up... Given that Core PCE is nowhere near the Fed’s 2% target (e.g. rising to 4.9% from 4.4%), the Fed clearly needs to keep raising rates (because of inflation) and they are going to be raising rates right into a slowdown. We are beginning to worry that stagflation is a real possibility.”
In the new post-revision world of jobless claims, the number of Americans applying for unemployment benefits for the first dropped modestly last week from 246k to 230k (but remains well above the 200k Maginot Line). Continuing claims was practically flat from the prior week at 1.88 million.
The classic commodities recession play of switching from oil to gold is well underway, but it’s far from a smooth progression as investors juggle signals from the Federal Reserve and China’s stuttering post-virus recovery.
Some Australian super-fund managers are concerned bonds and equities are vulnerable and instead are turning toward commodities to guard against the prospect of global stagflation.
Apr 27, 2023 - 05:50:21 PDT
The largest part of this, CHF24.2 billion, stems from its foreign-currency hoard, as global bond and equity markets recovered from turmoil last year. It also saw a 4.3 billion-franc profit on its gold holdings.
Tech Bulls Are Flirting With Disaster as Banking Pressures Threaten to Crash the Stock MarketApr 27, 2023 - 05:47:59 PDT
Carefree tech investors are "smoking in the dynamite shed" as banking turmoil could bring stocks crashing down, Larry McDonald said.
The yen was in a holding pattern as the Bank of Japan began a two-day policy meeting, the first under new governor Kazuo Ueda. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. Germany again revised up growth forecasts on Wednesday, and a survey showed a continued pickup in...
The dollar remained under pressure and world share markets were trying to stay positive on Thursday, as ongoing rumbles in the U.S. banking system kept investors cautious ahead of a barrage of top-tier European and U.S. data. London, Paris and Frankfurt stocks nudged into positive territory as reassuring earnings from UK bank Barclays, Germany's Deutsche Bank...
First Republic's rivals will end up paying for its struggles, whether it survives or gets seized by the FDIC.
Even after netting a tidy profit from the recent banking turmoil, Boaz Weinstein isn’t gloating. In fact, he says, the big gains for those wagering on a credit crunch are only just getting started.
A week before the Federal Reserve’s next meeting, JPMorgan Chase & Co. unveiled an artificial intelligence-powered model that aims to decipher the central bank’s messaging and uncover potential trading signals.
Confidence is in short supply among Chinese investors these days, confounding analysts who say reasons to own the market are finally coming true.
Wall Street veteran Bob Michele anticipates a flattening of the yield curve to 3% for securities maturing in two through 30 years, a forecast representing a victory over inflation and a loss for the US economy.
US bank stress will tighten credit by twice as much as expected by Federal Reserve Chair Jerome Powell, said economists surveyed by Bloomberg, tipping the economy into recession.
The fate of First Republic Bank has become a game of chicken between the US government and the lender’s largest rivals, with both sides seeking to avoid steep losses and hoping the other will save the troubled firm.
Federal Reserve officials from opposite ends of the policy spectrum are finding some common ground in a key topic of interest-rate debates: They’re skeptical wage gains will fuel further inflation.
Apr 27, 2023 - 05:30:06 PDT
The yuan now accounts for 48% of China's cross-border transactions versus 47% for the US dollar.
The hedge fund that beat 99% of peers last year with a bearish stance on emerging markets says the selloff since February has proven its skepticism right and risky assets will face even bigger losses later this year.