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China’s consumer and producer prices remained subdued in February as food and commodities costs eased, suggesting the country’s reopening won’t be adding to global inflation pressures.
It’s time to brush up on yield curve inversions (again). They’ve predicted every recession since 1955.
US buyback announcements are running at a record pace this year, though more than two-thirds of the $261 billion in commitments are spread across only five companies, according to JPMorgan Chase & Co. strategists.
‘It Really Shouldn’t Be This Way’: El-Erian Blames the Fed for Bad Messaging and Stock VolatilityMar 9, 2023 - 05:41:15 PST
“The alternative of continuing as is increases the challenges to a global economy facing an important green transition, changing globalization and supply chains, geopolitical uncertainties, and a worsening inequality of income, wealth and opportunity,” El-Erian wrote.
Emerging markets are facing their demons as traders mull whether U.S. Federal Reserve interest rates will rise as high as 6%, a level that could kick weaker countries when they're down, while diverging global growth paths and China's reopening might cushion some of the blow for the bigger ones.
Credit Suisse Delays Annual Report After SEC Call, Shares Plunge Towards All-Time LowMar 9, 2023 - 05:39:09 PST
It has become almost predictable: every few weeks, we receive news that causes Credit Suisse stock to plunge.
Two years after China’s developers began their descent into a debt crisis that ravaged the sector and forced record defaults in the nation’s $150 billion junk dollar debt market, creditors are starting to get a taste of the full consequences.
BOJ Governor Kuroda’s Last Meeting Has Markets Focused on a Final SurpriseMar 9, 2023 - 05:35:27 PST
The Bank of Japan will conclude Governor Haruhiko Kuroda’s final meeting Friday, with global investors remaining on high alert for a surprise parting shot from Kuroda that may jolt financial markets around the world.
If history is any guide the surge in US two-year yields back above the fed funds upper boundary this week is an ominous sign for any investors looking for the Federal Reserve to cut rates in 2023.
While central banks have slowed the pace of tightening, more interest-rate increases loom as inflation hovers above targets across the world, according to the head of the Monetary Authority of Singapore.
Recession Risk Looms Large as Bond Markets Price in Steeper Rate Hikes GloballyMar 9, 2023 - 05:31:14 PST
Forget about interest-rate cuts. The bond market is now pricing in a steeper path for monetary tightening by central banks around the world, raising the danger of recessions as policymakers struggle to bring inflation under control.
While the magnitude, or depth, of a yield curve inversion isn't necessarily predictive of a deeper, or longer recession, there are a host of other indicators in the bond market that are sounding alarm bells.
Global markets were in a rare lull on Thursday ahead of U.S. jobs data at the end of the week that could easily whip up more cross-asset storms.
The January Trade Deficit saw a slight increase compared to December, coming in at -$68.3B vs -$67.2B in the prior month. After peaking at -$106B in March of last year, the Trade Deficit has returned to a more stable range between -$60B and -$80B.
AMERICA'S LARGEST RENEWABLE ENERGY UTILITY FINANCIAL TRAINWRECK: NextEra Renewable Energy Heading For Financial DisasterMarch 9, 2023
If the Financial Trainwreck that is taking place at America's largest Renewable Energy Utility Company is a Red Warning Light, this is terrible news for the United States and the world. NextEra Energy's Renewable Energy Sector's financials are a disaster in the making...
Gold steadied on Wednesday after shedding nearly 2% in the previous session on an elevated dollar, with demand for the non-yielding asset blunted by Federal Reserve Chair Jerome Powell signalling more rate hikes.
"Providing revenue to the state is one of the reasons (and, perhaps the primary reason) governments worldwide monopolize the issuance of high-powered money." ~ Bryan Cutsinger
"The recent uptick in inflation is worrying, and the Fed needs to get a handle on the situation before higher inflation expectations become entrenched. But the Fed doesn’t need to take a sledgehammer to labor markets to ease the economy’s pricing pressures." ~ Alexander William Salter
The U.S. is heading towards a debt crisis. It’s been heading towards one for years… but the massive rise in Treasury yields may finally be the match that lights the fuse. I’ve written extensively about the …
Prepare yourself for some absolutely mind-blowing revelations from Mike Maloney as he discusses Chapter 7 of his new book "The Great Gold & Silver Rush of the 21st Century' with his friend David Morgan of 'The Morgan Report'. Strap in for this one.