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The adoption of a digital dollar by the U.S. government would be one of the greatest expansions of federal power ever made.
Whether this is a deliberate strategy by China to dump US dollar assets or the result of slowing economic activity, large budget deficits, and shrinking FX reserves is debatable. It’s probably both.
The mountain of borrowings accumulated across global economies in recent years is proving a challenge to central bankers as they fight inflation, according to a Bank for International Settlements official.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernStocks Slump as Fed-Hike Jitters Lift Bond Yields: Markets WrapChina’s Covid Pivot Accelerates as Cities Ease Testing RulesAmbitious Plans to Build Indonesia a Brand New Capital City Ar
Moldova, an EU aspirant (and seen as 'NATO-friendly), is heavily reliant on Russia as well as Ukrainian transit points for all of its energy needs.
Dec 5, 2022 - 10:46:42 PST
ECB’s Villeroy Wants 50 Basis-Point Hike to Fight Inflation. Francois Villeroy de Galhau, the ECB's Vice Chair and governor of the Bank of France seeks a 50 Basis-Point Hike to Fight Inflation.
Dec 5, 2022 - 10:38:07 PST
The start of a new week and the US Treasury 10-year yield is up 10 basis points, always a noteworthy change. And with it, the 30-year mortgage rate should climb.
Central banks seem to have perfected the ideal financial perpetual motion machine: as credit expands, money pours into risk assets, which shoot higher under the pressure of expanding demand for assets that yield either hefty returns (junk bonds) or hefty capital gains as the soaring assets suck in more capital chasing returns.
Dec 5, 2022 - 10:30:00 PST
New details of Beijing’s growing space arms arsenal were revealed the Pentagon’s latest annual report to Congress on the Chinese military.
Dec 5, 2022 - 08:00:54 PST
With inflation in the U.S. at its highest in more than 40 years, global strategy consultancy L.E.K. Consulting surveyed over 2,500 Americans in October 2022 – across generations and income levels – to see how their spending has changed, uncovering the categories and items that consumers have been cutting back on as well as those that they expect to return to post-inflation.
Dec 5, 2022 - 07:53:41 PST
Yesterday, I commented on Inflation Around the World: How Does the US Compare to Canada and Europe? but have new sources for October data.
Dec 5, 2022 - 07:52:41 PST
Global Aspirations of Crypto Meet the Hard Reality of Law. The predicted legal mess over FTX has exploded in Global Clashes Over FTX Bankruptcy
Dec 5, 2022 - 07:45:25 PST
We are truly living in Strange Days under Joe Biden. And with Elon Musk’s release of Twitter’s suppression of the Hunter Biden laptop scandal, they call Joe Biden the Sleaze. As The Fed…
As The Federal Reserve continues its assault on inflation by raising their target rate, Blackstone Inc.’s $69 billion real estate fund for wealthy individuals said it will limit redemption requests…
A Recession Is Not the Problem, a Deep Inflationary Depression Should Be a Far Greater ConcernDec 5, 2022 - 06:16:47 PST
Persistently massive inflows of cash into a key Federal Reserve facility are in large part being driven by a bank liquidity regulation change from last year, a report from the New York Fed said Friday.
Global credit extended its longest rally since before the pandemic on Monday as investors cheered further reopening moves from Covid restrictions in China and stuck with bets for the Federal Reserve to down-shift rate hikes this month.
Global credit extended its longest rally since before the pandemic on Monday as investors cheered further reopening moves from Covid restrictions in China and stuck with bets for the Federal Reserve to down-shift rate hikes this month.
Crypto Exchange Gemini Trying To Recover $900 Million From Crypto Lender Genesis, FT ReportsDec 5, 2022 - 06:11:31 PST
Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins' crypto exchange Gemini $900 million, the Financial Times reported on Saturday.
Former Treasury Secretary Lawrence Summers warned that the Federal Reserve will probably need to raise interest rates more than markets are currently expecting, thanks to stubbornly high inflationary pressures.
As interest rates rise, so are concerns about the credit quality of the floating-rate loans that back the $1.2 trillion market for collateralized loan obligations.
Federal Reserve officials have enough worrisome inflation data to consider raising interest rates to a higher peak than investors expect and potentially follow the half-point hike they’ve signaled this month with the same again in February.