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(Bloomberg) -- Goldman Sachs Group Inc.’s commodities traders reeled in one of their largest hauls ever last year, solidifying their renewed status inside the firm’s center of power.
The dollar tumbled on Thursday after the U.S. Federal Reserve said it had turned a corner in the fight against inflation, giving markets a confidence boost that the end of its rate-hike campaign is near.
Fed’s Powell Says No Rate Cuts This Year, and Markets Hear It DifferentlyFeb 2, 2023 - 05:46:32 PST
Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as "gratifying" as it is that inflation has begun to slow, the central bank is nowhere near to reversing course or declaring victory.
Powell’s optimism may have been subtle, but it was evident throughout the Q&A session. While he maintained that price pressures were still unacceptable, he repeatedly said that the “disinflationary process” was underway. Moreover, he said he saw a “pathway” to bring inflation back to the Fed’s 2% target without “a really significant economic decline or a significant increase in unemployment.”
Policy makers want to convince investors that smaller rate increases won’t be a prelude to rate cuts. Federal Reserve Chair Jerome Powell said Wednesday the central bank will raise interest rates a quarter-percentage-point. Powell said more increases will likely be needed to continue lowering inflation.
‘Big Short’ Investor Michael Burry Issues Warning After the Latest Stock Market Rally: ‘Sell.’Feb 2, 2023 - 05:35:08 PST
Burry is known for spotting bubbles, and he’s worried stocks are still in the midst of one—despite the drop in 2022.
The European Central Bank on Thursday delivered an expected half-point rate hike and said it intends to raise by another half point in March.
ECB Hikes 50bps As Expected, Issues Dovish Forward Guidance, Unveils Climate QEFeb 2, 2023 - 05:33:38 PST
In a mirror image of the dovish BOE earlier this morning, which hiked 50bps but signaled that its tightening cycle may well be over sending sterling and gilt yields sliding, moments ago the ECB, which continues to believe erroneously that if only it can crash the European economy it will somehow have control over Russian commodity prices, hiked interest rates by 50bps, as expected.
Traders in the interest rate swaps market have concluded after the Federal Reserve rate decision that policy direction is set for a deeper dovish pivot from the middle of this year.
U.S. Layoffs Hit Two-Year High as Tech Slashed Thousands of Jobs: Challenger ReportFeb 2, 2023 - 05:22:13 PST
Layoffs in the United States hit a more than two-year high in January as technology firms cut jobs at the second-highest pace on record to brace for a possible recession, a report showed on Thursday. The layoffs impacted 102,943 workers, a more than two-fold jump from December and an over five-times surge from a year earlier, according to the report from employment firm...
Pound Tumbles After BOE Hikes 50bps In 7-2 Vote, Signals Pause At Lower Rate Of 4%Feb 2, 2023 - 05:20:53 PST
In the first of two big central bank decisions today, moments ago the Bank of England hiked by 50bps - as expected - raising the overnight rate for a 10th time to 4%...
The European Central Bank is about to deliver another half-point increase in interest rates, though investors will be more interested in clues about where borrowing costs are headed beyond this week.
Yes there were caveats about it being too early to declare victory and policy will need to be more restrictive. But even then he was blase about another "couple of hikes", and spent more time trying out his new favourite word "disinflation".
Most people believe the Federal Reserve stabilizes the economy and our money. In reality, the central bank incentivized debt and destroys wealth. Is there a way to sidestep the destructive forces of central banking and fiat money?T.W. Thiltgen believes there is a freedom train we can escape on — gold.
If you are New to the SRSrocco Report or an Existing Member and would like to check out our Top Important Posts over the past few years, this is the place to do it. These archived Posts and Reports will help new subscribers understand our fundamental analysis of why energy and precious metals are so important...
Breaking: The IMF has just released a research paper on gold as ‘international reserves’. It contains some truly astonishing data, but if you’ve seen the report - you’ll already know that it is an arduous read.
The most-actively traded gold futures contract rose 0.6% to $1,957.10 a troy ounce, after the Federal Reserve approved an interest-rate increase of 0.25% and signaled plans to raise rates again next month.
Michael’s works say to generally stay out of stocks and bonds and go long on soft and hard commodities most notably precious metals of which he is most bullish on—silver.
Another warning shot across the bow just happened… I warned my readers a few weeks ago about how the Federal Reserve, in cooperation with giant global banks, has launched a 12-week pilot project to test the message systems and payment processes on the new CBDC dollar.
Stocks, Bonds, & Gold Soar As Powell Shrugs Off Loosening Financial ConditionsFeb 1, 2023 - 12:06:54 PST
After some initial volatility, US equity markets are charging higher...