Gold has all the potential to go unprecedentedly high. But silver will be gold on
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\Global spending on electric vehicles is surging. According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before.
Feb 15, 2023 - 07:31:03 PST
Frank Giustra, CEO of the Fiore Group and Founder of Lionsgate Entertainment, discusses how the Ukraine war is hastening a global monetary reset, with the BRICS seeking an alternative to the U.S. dollar in international trade. He also talks about the threat that artificial intelligence holds for jobs, and why AI and CBDCs could combine to bring about a 'scary as hell' future.
CBDCs are more akin to stolid stablecoins rather than currencies. Unfortunately, their potential to erode free enterprise is all too real. Controlling how, what and when money is transferred is not a place government bodies should be competing, with a massive advantage, against the rest of the monetary system.
President Joe Biden and Treasury Secretary Janet Yellen warned Tuesday of a potential economic crisis if a deal isn't reached to increase the federal debt ceiling. The concern over the debt ceiling is the result of a political showdown between House Republicans, who are demanding spending cuts, and the Democratic president, who insists on raising the limit without conditions. Yellen...
"I still believe there's potential for rate cuts later this year, which should be supportive for the yellow metal. The data, and therefore, expectations may just remain volatile over the coming months," said Craig Erlam, a senior market analyst at OANDA.
The market is poised for the next metals and mining bull market to commence. The theme for the last bull market was centered on globalization and the emergence of a new middle class in what we defined as BRIC (Brazil, Russian, Indian, China).
Wall Street’s reaction to Tuesday’s consumer-price index shows investors are realizing inflation is likely to remain higher than the Federal Reserve’s goal for longer. Two heavyweight market voices say the 2% target is part of the problem.
Global maritime trade has fallen to a shadow of pandemic peak as high inflation and reopenings hit goods purchases. The price of shipping goods on vital global trade routes has fallen 85 per cent below its peak as the cost of living crisis hits consumer spending and pandemic-related supply chain disruption eases.
Incoming Bank of Japan (BOJ) governor Kazuo Ueda will probably end its yield control policy when the timing is right to fix the central bank's strained communications with markets, former BOJ executive Kazuo Momma told Reuters on Wednesday. But the BOJ must make clear that any decision to scrap yield curve control (YCC) would be purely aimed at fixing what has become...
Feb 15, 2023 - 05:50:48 PST
The rate on U.S. six-month Treasury bills surpassed 5% on Tuesday, reaching its highest level since 2007. That’s good news for investors looking to earn even more on their short-term cash. It’s still not enough to offset inflation, however, which remains stubbornly high even as the latest government data show it slowing.
The deputy governor of Ukraine’s central bank woke early on Feb. 24 to a phone call from his mother, who was abroad. Her flight back to Kyiv had been cancelled. She’d also seen news reports that Russian tanks had crossed the border.
China’s central bank added more cash into the financial system to meet a rapid, post-Covid Zero rebound in loan demand, while keeping its key policy rate steady for now as the economic recovery takes shape.
India is leading a charge among Asia’s emerging-market central banks in rebuilding foreign-exchange stockpiles, which would help them defend their currencies if the dollar rebounds.
The explanation for the whoosh higher in risk assets this year may be as simple as it is surprising: eye-popping liquidity from central banks. Largely thanks to the Bank of Japan hoovering up domestic government bonds to keep its 'yield curve control' policy intact, and stimulus from the People's Bank of China (PBOC), aggregate liquidity from the official sector has surged in recent months.
Federal Reserve Bank of Philadelphia President Patrick Harker said he believes policymakers will need to raise interest rates to some level above 5% to counter inflation that is retreating only slowly.
Treasuries will face more pressure from inflation — but this time with China as a key catalyst not the US, according to some investors.
Wall Street equity futures declined while European stocks steadied as investors assessed how inflation data from the US and the UK will affect the outlook for interest rates, and as they digested results from major companies.
\Bond traders were once again forced to rethink the Federal Reserve’s path after inflation data showed prices remain stubbornly high. They now expect the Fed to continue raising interest rates through June and no longer see a rate cut as a sure bet this year.
After two straight monthly declines, consensus was for a big rebound (+2.0% MoM) in retail sales in January - with the almost omnipotent forecasters at BofA seeing an even bigger (+3.0%) surge.
With the CPI losing the relief from cooling energy prices, this month showed a solid uptick in prices, coming in at 0.54% (~6.6% annualized).