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Macron Says Europe Should Reduce Dependence On US Dollar, Seek 'Strategic Autonomy'Apr 10, 2023 - 05:55:10 PDT
As the United States combats a recent flood of countries 'de-dollarizing' - trading commodities in other currencies, the last thing that was needed was French President Emanuel Macron amplifying this message.
The concern now is how far and fast that unfolds.
Most Wall Street banks are likely to report lower quarterly earnings and face a dour outlook for the rest of the year, with last month's regional banking crisis and a slowing economy expected to hurt profitability.
Debt Crunch Looms for Weaker Economies With a Wall of Bond Maturities AheadApr 10, 2023 - 05:51:20 PDT
A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next year.
US Navy Challenges Beijing in South China Sea Amid Taiwan Drills: BloombergApr 10, 2023 - 05:45:24 PDT
A US Navy destroyer passed through waters claimed by Beijing in the South China Sea in a show of force that comes as the nation’s military holds drills around Taiwan
The US says it is "monitoring Beijing's actions" as China's military drills round Taiwan continue.
Among the questions for venture capital after the Silicon Valley Bank debacle: Will funding get a lot more difficult for startups?
Deposits at U.S. commercial banks rose near the end of March for the first time in about a month, showing signs of stabilizing after the two largest bank failures since the financial crisis rocked the banking system and rattled depositors.
Almost $1.5 trillion of US commercial real estate debt comes due for repayment before the end of 2025. The big question facing those borrowers is who’s going to lend to them?
US inflation was largely unwavering in March, with economists projecting a monthly increase in consumer prices on par with advances seen over the previous half year that will test the Federal Reserve’s mettle.
Most global central banks may be either close to a peak or already done with interest-rate hiking, auguring a hiatus before possible monetary loosening comes into view.
Speculators timed it just about perfectly before Friday’s strong US payrolls data, adding the most to their bets against benchmark Treasuries in just over a year.
The rush to issue shorter notes reflects market speculation that the Bank of Japan under new governor Kazuo Ueda will put an end to a decade of super-easy policy, a move that will likely hit longer debt especially hard. If the BOJ tightens credit, it would be joining central banks around the world that have pushed up interest rates to try to tame rapid inflation.
Echoes Of New Century's Collapse Amid Sudden Firesale Of Real Estate Loans As One Bank Sees 40% DownsideApr 10, 2023 - 05:29:31 PDT
Those who peaked below the surface of the latest H.8 statement which, as discussed previously, saw the biggest drop on record in bank loans and leases in the last two weeks of March...
When banks started going belly-up, the reaction in bonds was emphatic. Two-year Treasury yields slid a percentage point over three days in March, the most since 1982.
Not all investors are overlooking it, as seen in the strong moves in gold and silver prices, and utilities and consumer staples stocks. But enough are to call it out.
Investors are turning their focus to the world’s top finance ministers and central bankers assembling this week in Washington, looking for fresh clues on the outlook for everything from interest rates, banking stability and debt relief to oil prices and the testy US-China relationship.
Asian shares inched higher, while the dollar started the week on the front foot after the U.S. jobs data underscored a tight labour market, firming up expectations that the Federal Reserve will again raise interest rates at its meeting next month. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% higher, while Japan's Nikkei gained 0.5%. The closely watched report also showed that annual wage gains slowed but remained too high to be consistent with the U.S. central bank's 2% inflation target.
American consumers continued to pile on debt in February, but the pace of borrowing slowed significantly, another sign the economy could be heading toward a recession.Overall, consumer debt grew by $15.3 billion in February, a 3.8% annual increase, according to the latest data from the Federal Reserve. That compares with an upwardly revised 19.5 billion increase in January.
Peter Schiff appeared on TraderTV to talk about the failure of Silicon Valley Bank and Signature Bank, the bailout, and what might lie ahead. Peter emphasized that this banking crisis isn't over. In fact, it is just the beginning of a much worse financial crisis.