Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The Central Bank of Russia recently reported a gain of 30 metric tonnes in its gold reserves. That’s after a year of flatlining, more likely due to non-reporting than non-acquisition. That’s just another sanctions failure for the Biden administration.
Gold prices reversed course to trade higher, as a slightly softer dollar helped counter risk appetite fueled by easing concerns about the global banking system.
Q4 GDP Comes In Below Estimates On Sharp Slowdown In Personal Spending Ahead Of Looming Credit CrunchMar 30, 2023 - 06:03:17 PDT
n the least relevant data point on what will otherwise be a quiet day on the data front, moments ago the BEA reported its third and final Q4 GDP estimate (to be fair this number will still be revised numerous time in coming years), and it continued the trend of declines, having printed 2.9% in the first estimate in January (above the 2.6% estimate), it then dropped to 2.7% in the...
Jobless Claims Continue To Shrug Off Fed Tightening & Real-World HeadlinesMar 30, 2023 - 05:52:04 PDT
Continuing claims dropped very modestly but have basically gone nowhere in four months but initial jobless claims limped higher last week (from 191k to 198k), which was slightly worse than expected (196k)...
Elon Musk & Other Tech Leaders Call For Pause on ‘Dangerous Race’ to Make A.I. As Advanced as HumansMar 30, 2023 - 05:47:23 PDT
Artificial intelligence labs have been urged by Elon Musk and numerous other tech industry figures to stop training AI systems more powerful than GPT-4.
The world should take him seriously.
‘It’s Not a Pretty Picture’: Russia’s Support Is Growing in the Developing WorldMar 30, 2023 - 05:46:07 PDT
Russia's sphere of influence is growing as propaganda and diplomatic efforts gather momentum, analysts suggest.
Treasury Secretary Janet Yellen told lawmakers that the Biden administration’s proposed international aid spending in Ukraine and elsewhere is critical to strengthening Washington’s leadership abroad and advancing American security interests. Congressional Republicans said US assistance could be better used for domestic priorities.
Sugar, consumed in everything from chocolate to fizzy drinks and baked products, is becoming ever more expensive, raising costs for the industry and keeping up pressure on global food inflation.
]The $256 billion market for additional tier 1 debt is still reeling from Credit Suisse Group AG’s debt wipeout.
Repo rates in Tokyo slumped to a record Thursday as fiscal year-end activity led to a shortage of Japanese government bonds for collateral.
The European Securities and Markets Authority said it is scrutinizing the market for credit default swaps after recent trading activity amplified turmoil for banking stocks.
Charles Schwab Corp.’s clients are pulling cash out of the firm’s low-interest-rate bank accounts at twice the rate that Morgan Stanley expected, prompting the firm’s analyst to yank his buy-equivalent rating on Schwab for the first time since he began covering the brokerage stock seven years ago.
For the past two decades, Credit Suisse Group AG dominated the business of arranging Swiss franc bond sales. Its sudden collapse presents an opportunity for the likes of Deutsche Bank AG and BNP Paribas SA in a market that saw $59 billion in deals last year.
The global currency market is vulnerable to a liquidity crunch later this year as financial conditions tighten and economic growth slows, Bank of America Corp. warned.
Bank of Japan Governor Haruhiko Kuroda changed the course of global markets when he unleashed a $3.4 trillion firehose of Japanese cash on the investment world. Now Kazuo Ueda is likely to dismantle his legacy, setting the stage for a flow reversal that risks sending shockwaves through the global economy.
The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades.
The derivatives industry body, the International Association of Swaps and Derivatives Association (ISDA), has backed Credit Default Swaps amid concerns about the role they have played in the recent bout of global banking turmoil.
The Federal Deposit Insurance Corp., facing almost $23 billion in costs from recent bank failures, is considering steering a larger-than-usual portion of that burden to the nation’s biggest banks, according to people with knowledge of the matter.
U.S. Federal Reserve Chair Jerome Powell told Republican lawmakers that Congress should re-evaluate limits on the size of federally insured bank deposits, U.S. Representative Kevin Hern said on Wednesday.