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Watch Live: Will Fed Chair Powell Pull The Dovish Rug Out From Under The Market?Feb 7, 2023 - 09:02:33 PST
Since Fed Chair Powell went full dove-tard during last week's FOMC press conference - driving asset prices vertically higher - a considerably stronger than expected payrolls print stole the jam out of the 'Fed pause/pivot'-party's donut, with stocks sinking back and bond yields exploding higher.
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Is the global consumer starting to capitulate?
Feb 7, 2023 - 07:19:12 PST
When QE ended, the Fed reinvested any maturing securities to maintain the size of its balance sheet. With QT, the Fed stopped reinvesting up to $30 billion in maturing Treasuries and $17.5 billion in maturing MBS every month, passively shrinking its assets as those securities "roll off" without being replaced. Those caps rose to $60 billion and $35 billion, respectively, in September.
World Is Walking Into WW3 With "Eyes Wide Open" - UN Chief Tells General AssemblyFeb 7, 2023 - 07:18:08 PST
United Nations Secretary General Antonio Guterres warned on Monday in a speech delivered before the 193-member UN General Assembly that the world is headed toward a "wider war" in Ukraine due to the ever-increasing risk of escalation.
The US trade deficit for all of 2022 rose 12.2% to $948.1 billion, the widest gap on record, as the US continued to depend heavily on imports from other countries to meet domestic demand.
A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax. The bill also eliminates the Internal Revenue Service, giving states the responsibility to collect the sales tax and send the revenue to DC.
Fed Loan Officers Paints Dire Picture: Loan Standards Approaching Record Tightness As Loan Demand Plummets Feb 7, 2023 - 07:08:07 PST
Late last week, when looking at the most recent Senior Loan Officer Opinion Survey held by the Fed, we noted that the surge in revolving credit has not gone unnoticed by lenders: the on bank lending practices showed banks tightening lending standards for commercial, mortgage, and credit card loans.
Swiss citizens will get the chance to try to ensure that their economy never becomes cashless, a pressure group said, after collecting enough signatures to trigger a popular vote on the issue.
Monetary Metals gives a preview into its Seventh Annual Gold Outlook report, including a review of last year’s call, and the key price drivers for gold and silver in 2023.
“Quite frankly, I think there’s so much momentum right now — I’m very confident gold’s going to blow through its previous high and sail into new territory, probably this year,” said mining sector entrepreneur Ross Beaty at the Vancouver Resource Investment Conference (VRIC).
China's gold reserves rose to 65.12 million ounces at the end of January, up 480,000 ounces from the end of December 2022, data from the State Administration of Foreign Exchange showed Tuesday.
Feb 7, 2023 - 06:02:30 PST
Russia is now ranked in the global top four countries in terms of gold and foreign exchange reserves with a total of US$582 billion. These indicators are based on the analysis of data from various Central Banks and include in the top five China (US$3.31 trillion), Japan (US$1.27 trillion), Switzerland (US$924 billion) and India (US$563[.....]
There Isn’t Enough Copper in the World — And the Shortage Could Last Till 2030Feb 7, 2023 - 05:57:57 PST
A copper deficit is set to inundate global markets throughout 2023, fueled by increasingly challenged South American supply streams and higher demand pressures.
Our reliance on the endless expansion of credit, leverage and credit-asset bubbles will have its own high cost.
With $31 trillion of debt, the US government has reached its borrowing capacity. President Joe Biden and Republican Speaker of the House Kevin McCarthy have started talks on ways to raise the so-called federal debt ceiling. If they don’t come to an agreement, the US could default on its debt and send the economy and financial markets into a catastrophic tailspin.
China's central bank has signed a memorandum of understanding on setting up yuan clearing arrangements in Brazil, it said on Tuesday, in a move to help boost the currency's global clout.
Economists disagree about how much market-driven financial conditions influence the economy relative to interest rates set by the Federal Reserve.
The dollar eased on Tuesday after its rally the previous day, but still hovered near a one-month peak as traders raised their bets on how high the U.S. Federal Reserve would need to raise interest rates to tame inflation. The big mover on Tuesday was the Australian dollar, which surged as much as 1% to an intra-day high of $0.6952, after the country's central bank raised cash rate by 25 basis points and said more increases would be needed, a more hawkish policy tilt...
How Much Will the Fed Raise Rates in 2023? Here’s What Experts Are SayingFeb 7, 2023 - 05:43:36 PST
Still, more rate hikes equal higher borrowing costs, which are unlikely to fall until the Fed starts to cut interest rates — a policy path no official has said they’re expecting to approve this year.