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Jan 27, 2023 - 08:13:45 PST
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Americans Fall Behind on Car Payments at Higher Rate Than in 2009: BloombergJan 27, 2023 - 07:44:50 PST
Automobile repossessions are climbing as inflation forces struggling consumers to make tough choices.
Pending Home Sales Suffered Worst Annual Decline Ever In 2022, Despite December SurgeJan 27, 2023 - 07:25:17 PST
While existing home sales slipped to cycle lows in December, new home sales bounced and this morning analysts were surprised to see pending home sales rise 2.5% MoM (against expectations of a 1.0% decline), and November's decline was revised higher...
The most important aspect of the University of Michigan sentiment survey continues to be the inflation expectations and it plunged to 3.90% (for the next year) - the lowest since April 2021...
Jan 27, 2023 - 07:20:52 PST
There was a hilarious film with Hillary Swank and Aaron Ekhart called “The Core” where earth’s core stops spinning and the earth gets cooked by the Sun’s rediation. Now we learn that the Earth’s inne core has actually stop spinning. This time, however, all that has happened is that Joe Biden is President which is almost as bad,..
Jan 27, 2023 - 05:49:16 PST
Once gold closes above $2,000 for a few days in a row, algorithmic traders could flood into the sector. Silver is in a trading range, carving out a channel formation...
Robust data on Thursday likely greenlighted the Fed to keep interest rates high for longer. At 13:00 GMT, April Comex Gold is trading $1947.80, up $1.10 or +0.06%. On Thursday, the SPDR Gold Shares ETF (GLD) settled at $179.46, down $1.65 or -0.91%.
Fed's Favorite Inflation Indicator Drifts Lower (Still Above 30 Year Highs)Jan 27, 2023 - 05:40:58 PST
The headline from this morning's income and spending data is The Fed's favorite inflation indicator - Core PCE Deflator - printed pretty much in line with expectations (headline up 0.1% MoM was marginally hotter than expected). The year-over-year prints dropped to 5.0% and 4.4% respectively for headline and core - while both lower and trending down from the highs last year...
Back-to-back interest-rate increases of 50 basis points are approaching from the European Central Bank, whose battle with persistent inflation will see it hike borrowing costs until May,
Rice prices are climbing, a sign that the food inflation shock that threw millions into poverty is still reverberating, even as the cost of wheat and other farm commodities has declined.
Private home prices in Hong Kong, one of the most unaffordable territories in the world, fell 15.6% in 2022 in the first annual drop since 2008, official data showed on Friday.
Japanese Prime Minister Fumio Kishida said on Friday that a return to deflation in the world's third-largest economy cannot be ruled out, because domestic demand remains weak.
Consumer Inflation in Japan’s Capital Hits Near 42-Year High, Keeps Boj Under PressureJan 27, 2023 - 05:30:47 PST
Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the fastest annual gain in nearly 42 years and keeping the central bank under pressure to phase out economic stimulus.
Investor sentiment has been improving, but the contrarians haven’t gone silent. Legendary British investor Jeremy Grantham is predicting hard times ahead, as he lays out his case for doom and gloom to cast a shadow on the markets. In Grantham’s view, the pandemic stock gains were a bubble, and that bubble hasn’t fully popped yet. Putting some numbers to this view, Grantham...
Fed Set to Deliver Quarter-Point Rate Hike Along With ‘One Last Hawkish Sting in the Tail’: MWJan 27, 2023 - 05:23:28 PST
The Federal Reserve on Wednesday will hike rates by a quarter-point, a downshift from December but will make sure to sound hawkish, economists said.
What to know in markets on Friday, January 27, 2023.
Global Markets Take Breather After January Surge, Adani Plunges in IndiaJan 27, 2023 - 05:17:57 PST
World stocks eked out a 5-1/2 month high and the dollar held close to an eight-month low on Friday, as reassuring U.S. economic and inflation data kept the bulls largely in charge ahead of next week's slate of top central bank meetings.
US futures dropped after yesterday's meltup, led lower by semiconductor stocks and traded in a tight range on Friday after a catastrophic earnings report and guidance from (former?) chip giant Intel, while investors awaited key inflation figures for clues on what the Fed will do next week. Nasdaq 100 futs were down 0.3% by 7:30 a.m. ET while S&P 500 futures dropped 0.2%.
The Fed has a targeted balance sheet reduction of $95B a month. The Fed has failed to meet its target in 7 of the last 8 months with only an $81B reduction in January.The Fed fell woefully short of meeting their $35B MBS target, seeing only $16.7B (less than 50% of the target). The Treasury target was met.
With a debt ceiling debate now underway, a dumb idea has once again raised its ugly head - the trillion-dollar coin. This week on the Friday Gold Wrap podcast, host Mike Maharrey uses this so-called "solution" to the debt ceiling problem as an opportunity to teach some economics. In this episode, he also touches on the GDP data that came out yesterday.