Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Apr 3, 2023 - 06:05:16 PDT
Even worse, the UMich buying conditions for housing hit 142 in February 2020 but has declined to 47 in March 2023.
\Chinese authorities warned the nation’s top banking executives that the crackdown on the $60 trillion industry is far from over in a private meeting late Friday, just as they were about to announce the probe of the most senior state banker in nearly two decades.
Activity at struggling factories across the euro zone fell further last month as consumers feeling the pinch from rising living costs cut back, according to a survey which did show the cost of manufacturing fell for the first time since mid-2020.
Japanese manufacturers' sentiment soured in the first quarter to its worst level in more than two years, eclipsing an uptick in service-sector mood, a central bank survey showed, reinforcing views a strong post-COVID economic recovery is some time away.
China's sprawling manufacturing sector, accounting for a third of the world's second-largest economy by value, lost momentum in March amid still-weak export orders, tapping the brakes on the country's economic recovery from restrictive COVID-19 policies.
Treasury yields rose on concern a rally in oil prices will keep inflation elevated and put pressure on the Federal Reserve to go on raising interest rates.
The bank created by the UBS takeover of Credit Suisse is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unnamed senior UBS manager.
China’s Central Bank Calls for Stronger Defences Against Financial CrisisApr 3, 2023 - 05:50:33 PDT
China should accelerate legislation of the Financial Stability Law and improve other legal arrangements designed to prevent and dispose of financial risks, three officials from the People's Bank of China (PBOC) wrote in China Finance, a publication affiliated to the central bank.
SVB Collapse Complicates Banks’ Efforts to Unload More Than $25 Billion of Junk Debt; WSJApr 3, 2023 - 05:49:13 PDT
Banking turmoil and Twitter woes cloud the picture for “hung” buyout loans.
Individual Investors Slow Stock Purchases, Leaving Markets Vulnerable: WSJApr 3, 2023 - 05:48:14 PDT
The sharp drop in individuals’ equity buying in recent weeks leaves stock markets without a dependable leg of support after a rocky first quarter.
Deposits at US banks fell sharply and lending declined by the most in nearly two years amid financial turmoil triggered by the collapse of several banks this month.
Optimism about imminent rate cuts is stirring animal spirits — and unease — in equal measure at the end of a turbulent quarter in markets.
U.S. Social Security Fund Seen Depleted 2033, Year Earlier Than Previous EstimateApr 3, 2023 - 05:43:02 PDT
The U.S. Social Security system's main trust fund's reserves will be depleted in 2033, one year earlier than estimated last year, while Medicare's finances have improved slightly, reports from the programs' trustees showed on Friday.
The outlook for the Italian economy is improving but higher interest rates designed to curb inflation could pose a threat to growth, Italy's economy minister said on Saturday, sending a warning to the European Central Bank (ECB).
Russia’s grip on global food supply is tightening after two of the biggest international traders said they would halt grain purchases for export from the country.
While new requirements might be expensive for regional banks, they may help mitigate deposit-flight risk.
Central bankers who spent past weeks puzzling over how financial turmoil will impact their outlook now have a jolt in the form of higher oil prices to consider.
In the aftermath of the failure of Silicon Valley Bank and Signature Bank, many rushed to blame their demise on a lack of regulation. In particular, they focused on the fact that these banks were not required to undergo a Federal Reserve stress test.Indeed, small and midsize banks are exempt from the stress test requirement. Did that lead to the current banking crisis?
Energy prices have moderated and the price of some goods has dropped in recent months, but the cost of services continues to rise at a red-hot pace and is at the highest level since 1984.As a result, the core personal consumption expenditures price (PCE) index rose by 4.6% year on year. This is yet another signal that the Federal Reserve is not anywhere close to winning the inflation fight.
Unfortunately, the worse is yet to come with this Banking Crisis. And, while the Federal Reserve believes it has the tools to manage this crisis, they are making the same mistakes as they did in 2008. This could have profound implications for the markets and the precious metals...