Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Let's compare monthly payments at 3.0 percent to payments at 6.50 percent on a home costing $500,000 with 20 percent down.
Feb 21, 2023 - 07:42:57 PST
It is the start to a trading week after yesterday’s pause for President’s Day. And with a new start, we see the US Treasury 10-year yield jump 8.5 basis points to 3.9%. Bankrate’s 30-year mortgage rate is up to 6.83% and the implied Fed Funds Target rate at the June 2023 Fed Open Market Committee meeting is now 5.23%.
"Great Deal Of Uncertainty": Walmart Slides On Disappointing Guidance, Forecasts 2nd Straight Annual Profit DeclineFeb 21, 2023 - 07:36:46 PST
Viewed as the unofficial end of earnings season, Walmart's just reported Q4 earnings also served to send the stock of world's biggest bricks and mortar retailer lower after the company reported strong Q4 results but its profit forecast for this year fell short of analyst estimates, signaling more struggles for the world’s largest retailer after it was hammered by a surge in inventory.
Feb 21, 2023 - 07:35:26 PST
As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.
The U.S. dollar enjoys the world reserve currency status due to numerous factors. Legal and investor security, an open and transparent market, as well as independent institutions with checks and balances that limit political power and strengthen the country’s currency in relative terms. No, a country does not have a world reserve currency due to military power.
According to the January report of the Consumer Price Index, price inflation increased by 0.5 percent last month. This follows a 0.1 percent increase in December. The total increase over the last 12 months is 6.4 percent. The official government statistics, which are manipulated to understate the true rate of price inflation, show even greater increases in some costs. Over the...
The Great Gold & Silver Rush of the 21st Century - My New Book is Finally HereFeb 21, 2023 - 06:10:58 PST
Hey it’s me, Mike Maloney…I just finished my new book. It’s called the Great Gold and Silver Rush of the 21st Century… and in my opinion, there’s no place where you can get a better grasp of the enormity of what’s happening in our financial system and precious metals all in one place.
Gold traded in a tight range on Tuesday as investors refrained from taking big positions ahead of U.S. economic data that could influence the Federal Reserve's interest rate-hike strategy.
As the economy weakens and The Federal Reserve tightens (to fight inflation), we are seeing the lowest level of S&P 500 equity risk premiums since before the financial crisis.
Feb 21, 2023 - 05:56:00 PST
On the corporate side, US bankruptcies in 2023 had the worst start to a year since 2010 and the financial crisis.
A year into the U.S. Federal Reserve's most aggressive monetary crackdown since the 1980s the strength of the U.S. economy has befuddled policymakers now faced with an unexpected dilemma: Are things too good?
Japan's manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world's third-largest economy, which is facing weakening demand and struggling to tame cost pressures.
A swift reassessment of how high the Federal Reserve will raise interest rates this year has rocked the bond market in recent weeks. Now, the market faces a bigger threat: the growing notion that rates will stay elevated even after the US central bank’s inflation fight is all over.
Office Landlord Defaults Are Escalating as Lenders Brace for More Distress: WSJFeb 21, 2023 - 05:45:45 PST
The growing number of distressed office buildings reflects a recognition by owners and lenders that the robust return to office they had hoped for isn’t likely ever to materialize.
The average person in the U.S. is around $96,400 in debt... but, as Statista's Katharina Buchholz notes, if Americans would be charged by their hometowns and cities for the debt they have taken on in the name of their residents, a fairly big sum would be added to that tally.
Debt-Ceiling Standoff Prompts Backup Plans, but They Face Hurdles Too: WSJFeb 21, 2023 - 05:39:41 PST
Potential alternatives for the U.S. to avoid default—from simply ignoring it, to minting a trillion-dollar coin—are met with skepticism.
A large number of economic thinkers that I respect are calling for peak inflation, and that interest rates increases have topped out. With oil prices down from USD 120 a barrel to USD 77 today, this would be a strong indication of reduced inflation pressure. For “peak inflationistas” the cherry on the top would be this week’s cover of the Economist, warning that inflation will be harder to...
California Gov. Gavin Newsom’s budget last month projected a $22.5 billion deficit, but apparently his forecast was too sunny. The Legislative Analyst’s Office (LAO) warned last week that the state’s budget hole may be a lot bigger owing to plunging revenue. Look out below.
China plans to adopt more differentiated risk weighting measures to limit banks’ lending to toxic investments that are exposed to higher default threats, including those to problematic house developers.
State and federal agencies have levied fines, brought new cases and issued policy statements to rein in freewheeling practices in recent weeks.