Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The labor market, the yield curve, inflation and a stock-market selloff are poised to force the Federal Reserve into a rate cut sooner than the market is currently pricing.
Tired of Getting Screwed by Banks, People Yank their Cash Out, Forcing Banks to Pay Higher InterestMar 28, 2023 - 07:03:44 PDT
That’s how it should have been all along. But the Fed’s interest rate repression killed competition for deposits.
"Delay Your Home Purchase" - Bob Shiller Warns As Prices Slide For 7th Straight MonthMar 28, 2023 - 07:02:15 PDT
US home prices, according to S&P CoreLogic's Case-Shiller index, fell for the 7th straight month (-0.42% MoM) leaving the home price index up 2.55% YoY (in January - this data is always very lagged) - the lowest growth since Nov 2019.
Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal's appeal .
Depositors have withdrawn €214bn from eurozone banks over the past five months, with outflows hitting a record level in February, according to data published by the European Central Bank on Monday. The fall in eurozone bank deposits, which started a few months after the ECB began raising interest rates last summer, marks a reversal from the large amounts of money that had been pouring into banks — particularly since the pandemic.
Lawmakers are expected to put top U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when they testify before Congress on Tuesday.
French unions are holding a 10th day of nationwide protests Tuesday to try to force President Emmanuel Macron to hit the brakes on his unpopular pension reform and open fresh talks.
British grocery inflation rose again in March to a record 17.5%, inflicting yet more pain on consumers battling a cost-of-living crisis, industry data showed on Tuesday.
Pricing of swaps linked to scheduled Federal Reserve meetings now suggest that a quarter-point hike is more likely than not at the central bank’s next meeting in May.
What Happens in the Banking Sector Won’t Stay There, El Erian: BloombergMar 28, 2023 - 06:05:31 PDT
The sudden loss of confidence by depositors in some US banks is causing many to focus on the scope for financial contagion and the needed policy responses. What should not be overlooked is the other, and slower, contagion channel in play — that involving enablers of economic growth — which is less in focus but also important in determining how quickly the world’s largest economy will overcome this abrupt air pocket.
The burden of interest rates on most companies is still exceedingly low. But over the next year, that will start to change.
Banking Rebound Remains Fragile as Regulators Review Response to FailuresMar 28, 2023 - 05:57:03 PDT
Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny. Top U.S. banking regulators on Monday said they planned to tell Congress that the overall financial system remains on a solid footing after recent bank failures, but they will review their policies...
The Bank of Japan must be ready to issue central bank digital currencies (CBDC) that coexist with various other forms of money to offer the public a safe digital payment system, its governor Haruhiko Kuroda said on Tuesday. The central bank will start a pilot programme in April to test the use of a digital yen, joining a growing number of countries seeking to catch up...
New Retirement Age or Higher Taxes? The Social Security Reform Debate Could Go a Few WaysMar 28, 2023 - 05:54:00 PDT
U.S. lawmakers are considering changes to entitlement programs in the states, with some saying the country should raise the full retirement age.
Jed Laskowitz, a chief investment officer at J.P. Morgan Asset Management, is bullish on high-grade corporate bonds to ride out a global storm following bank failures on both sides of the Atlantic.
Bank of England Governor Andrew Bailey said interest rates will probably remain below the highs seen before the financial crisis, his latest hint that the UK central bank may be near an end to its quickest series of hikes in three decades.
Heightened uncertainty and rising recession odds posed by the banking crisis are reasons for investors in US stocks to remain defensive in their positioning, according to JPMorgan Chase & Co.’s Marko Kolanovic.
On the surface, Charles Schwab Corp. being swept up in the worst US banking crisis since 2008 makes little sense.
Federal Reserve Governor Philip Jefferson said the US central bank would try to avoid harming the US economy any more than needed as it confronts high inflation.
Global financial regulators should take a closer look at credit default swaps after relatively small transactions in the market amplified last week’s banking turmoil, according to the European Central Bank’s top oversight official.