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Used-Vehicle Auction Prices Jump for Third Month, after Last Year’s Plunge. More Trouble Brewing for “Core” CPIMar 7, 2023 - 11:43:30 PST
Retail supply of used cars and trucks dropped for second month in a row. Dealers bid up prices to replenish their inventories.
Mar 7, 2023 - 11:42:03 PST
A month ago, the market viewed the odds of a hike to 5.00 to 5.25 percent as 9.2 percent. Today, the rate hike odds jumped from 39.8 percent to 60.2 percent.
I think that avalanche is now so loud it could be heard from space. Poor pebbles.
Gradually then suddenly (2024?)...
Mark talks about the recent price inflation reports, as well as reports of job openings from private sector job placement companies. Inflation was higher than expected and job openings declined. What will the Fed do?
"Increased Financial Fragility": Fed Paper Has Word Of Warning For Central Banks Indulging MarketsMar 7, 2023 - 08:14:02 PST
How much of policy tightening is too much? With the major central banks around the world already having raised their benchmark rates by the most in decades, it’s natural that the question is being asked.
But escalation on the financial and economic fronts is equally dangerous and could contribute to a global recession. U.S. policymakers seem to be too dumb and too shortsighted to consider either prospect. Where are the adults?
Fed Chair Powell Today Says Interest Rates Are ‘Likely to Be Higher’ Than Previously AnticipatedMar 7, 2023 - 07:41:51 PST
Citing earlier data showing that inflation has reversed the deceleration in late 2022, Powell warned of tighter monetary policy ahead.
The following chart, from Goldman via Game of Trades, highlights the fact that housing affordability has reached the worst levels since at least 1997.
Mar 7, 2023 - 07:35:45 PST
Food stamp benefits had been enhanced for many Americans during the pandemic, but now that emergency program is coming to an end.
Mar 7, 2023 - 07:20:08 PST
As inflation remains persist (thanks to endless Fed stimulus and endless Federal spending splurges), we are seeing The Federal Reserve finally withdrawing the monetary stimulus (tightening the monetary noose). And with it, the US Treasury yield curve (10Y-2Y) goes down with it.
The credit market looks alarmingly tight given the outlook of rising interest rates and recession fears. But there are reasons for this.
Gold nudged lower as traders awaited comments from Federal Reserve Chair Jerome Powell for clues on the outlook for US interest rates.
Gold is famous for its rarity and that likely won’t change any time soon. In fact, the global demand for gold hit a decade peak in 2022 while its supply continues its nearly 7-year plateau. So gold is in high demand, but will it run out any time soon? The Earth has a limited amount of gold in its crust and experts are estimating that it may be unsustainable to mine gold by 2050. Compared...
Global gold demand rocketed to a new decade high in 2022 and it wasn’t retail buyers or investment firms driving the increase. It was the central banks. According to a report by the World Gold Council (WGC), central banks purchased the most gold since 1950 in 2022. It revealed that central banks purchased a whopping 1,136 tons of gold in 2022, an incredible 152% increase...
China Says U.S. Relations Have Left ‘Rational Path,’ Warns of Conflict Unless They ‘Hit the Brake'Mar 7, 2023 - 06:05:03 PST
"If the U.S. does not hit the brake but continue to speed down the wrong path, no amount of guardrails can prevent derailing and there will surely be conflict and confrontation," Qin said.
China Says Must Advance Relations With Russia as World Becomes More TurbulentMar 7, 2023 - 06:03:09 PST
China, which has refused to name Russia as the aggressor in the Ukraine conflict, has often criticised the United States for bullying other countries with unilateral sanctions.
China's exports and imports with Russia surged at a double-digit pace in January-February from a year earlier, customs data showed on Tuesday, as China said it had to advance relations with its northern neighbour in an increasingly turbulent world.
Early Retirees Facing Pension Cash Crunch, Warns Bank of England OfficialMar 7, 2023 - 06:00:42 PST
Over-50s who retire early will have to return to the workforce to top up their pensions, a Bank of England policymaker has warned.
It is becoming a lot harder for crypto companies to access dollars to buy digital assets as the network of payment providers shrink in the US.