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JPMorgan Chase & Co. strategist Marko Kolanovic reiterated Monday that investors should fade last week’s Federal Reserve-induced stock-market rally, arguing that the US economy’s disinflationary process could just be “transitory.”
Big-money speculators are shunning the new-year equity rally, unconvinced by the buying frenzy that has swept across the retail crowd as well as corporate America.
Bank of America ‘Still Forecasting’ 2023 Recession: Fed Action ‘Not Enough,’ Exec WarnsFeb 7, 2023 - 05:33:10 PST
Bank of America Vice Chairman Keith Banks warns as the economy slows and margins get squeezed, costs will grow faster than revenues.
Saudi Arabia signaled it’s optimistic about oil demand by unexpectedly raising prices for customers in its main market of Asia, while also lifting those for Europe and the US.
\Federal Reserve Bank of Minneapolis President Neel Kashkari said January’s strong labor-market report shows the US central bank needs to keep raising interest rates.
Central banks face mounting losses on the trillions of dollars of bonds they bought in the past 15 years of rolling crises, a paper from the Bank for International Settlements (BIS) said, warning that the deficits could leave them open to political attack. Having rapidly raised interest rates to fight inflation, the Federal Reserve and its European peers are now making huge interest payments to...
State Stimulus Checks: IRS Plans To Rule Whether These Payments Are Taxable This WeekFeb 7, 2023 - 05:26:50 PST
The IRS is expected to provide more guidance on whether stimulus checks states issued in 2022 are considered taxable income on federal returns.
While U.S. President Joe Biden gets set to deliver his second "State of the Union" address late on Tuesday, world markets will be more in thrall to what his Federal Reserve Chair makes of an increasingly confusing economic picture. Jerome Powell makes his first speech since the Fed's latest quarter-point interest rate rise last week. For markets that appeared comfortable as...
GLOBAL bonds tumbled for a second day, as a string of policymakers told investors they should expect further rate hikes, pushing back on speculation central banks were nearing an end to their tightening cycles.
The steepest market sell-off of the year so far looked to be fizzling out on Tuesday, as traders waited to see if the head of the Federal Reserve and a number of top ECB and BoE officials give any new insights later on where interest rates are heading. The Australian dollar had already bolted upwards after its central bank signalled it would keep hiking...
The December Trade Deficit increased after a major drop in November. The total came in at $67B which was 10% greater than November's $61B, but still well below the 6-month high from October of $77B. It is also below the $79B Trade Deficit from December 2021.
The better-than-expected non-farm payroll report for January along with the smaller interest rate hike delivered by the Federal Reserve at its February meeting increased optimism that the central bank can bring price inflation back to 2% without tanking the economy. But the shrinking money supply undercuts this soft landing narrative.
We saw a big rotation into risk assets after last week's Federal Reserve meeting. Then we had another big shock to the markets when the non-farm payroll report came out much stronger than expected. In his podcast, Peter Schiff broke down the market reaction to last week's events and reveals that while risk was on, economic understanding was off.
India was the largest consumer of gold before being overtaken by China in 2009. In 2021 India bought 611t of gold jewellery, second only to China (673t) but comfortably ahead of all other gold-consuming markets, a recent World Gold Council report revealed.
Gold prices finish higher on Monday after tumbling to their lowest level in three weeks following Friday's surprising strong jobs report, which helped send...
Feb 6, 2023 - 12:44:19 PST
A large bipartisan contingent of Wisconsin legislators seek to end Wisconsin’s controversial practice of levying sales tax on purchases of gold and silver.
Feb 6, 2023 - 12:43:34 PST
Turkey was the biggest buyer of gold among central banks last year, with households also rushing to buy the commodity to shield from geopolitical uncertainty and rampant inflation.
The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys InvestmentsFeb 6, 2023 - 12:13:29 PST
When I first took academic courses in macroeconomics and money and banking, we covered the actions of the Federal Reserve System. One of the things we constantly were told about the government’s “monetary policy” was that when the Fed wanted to increase or decrease the monetary base, it would involve its “portfolio.”
It's Never Too Late to Begin Protesting against the Proposed Central Bank Digital CurrencyFeb 6, 2023 - 12:12:36 PST
Whether you like it or not, central bank digital currencies (CBDCs) are coming. That’s the message in a recent tech column in the Wall Street Journal. A similar tone can be found coming from organizations like the World Economic Forum, the International Monetary Fund, and the Atlantic Council.
"Given uncertainties surrounding the unusual stimulus and the lagged effects of monetary policy, it would be prudent to hold the Federal Funds rate constant for a few months and see how the economy responds to recent policy." ~ Gerald P. Dwyer