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With central banks ratcheting up their response to a global inflation shock, debate is shifting from when they'll win the war to whether faster rising prices are here to stay in a supply-constrained world. The risks of an emerging era of high-inflation have been sketched out by top central bankers, led to debate about whether current inflation targets...
Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs. Barclays cut its workforce in corporate and investment banking by under 3%, a source told Reuters on Nov.8, weeks after reporting a 45% slump in merger advisory fees.
Climate change and the energy transition are becoming top of mind for central bank policymakers as they grapple with volatile energy prices and the effects of more frequent extreme weather events.
he global economy may be headed for a new era of volatile inflation, making it even more crucial to anchor expectations for where prices are headed, central bank governors warned Friday.
Exchange-traded fund investors took Wednesday’s stock-market surge as an opportunity to offload $8 billion of holdings in two of the biggest equity funds.
Stock investors’ optimism around a cooling labor market and a Federal Reserve pivot is overdone, according to Bank of America Corp. strategists, who recommend selling the rally ahead of a likely surge in job losses next year.
U.S. stock futures slumped Friday morning as monthly employment data out of Washington D.C. kept investors on edge.
"Global markets have been hyperfocused on the Fed's pace of hikes," said Schneller.
"We think the damage is not done yet. All the central bank liquidity that has gone in and out of the economic system has a 70% correlation to equity market returns and the liquidity drain will be hard to fight."
Gold eased into a tight range on Friday as cautious investors positioned themselves for U.S. jobs data, but safe-haven bullion was still bound for a second straight weekly gain on expectations of a moderation in the pace of U.S. rate hikes.
According to the BLS, the economy added 263k jobs in November with a modest revision up in October from 261k to 284k but a revision down in September from 365k to 269k. October was a beat against median expectations of 200k. The employment rate (black line) stayed flat at 3.7% while the labor force participation ticked down from 62.2% to 62.1% This is the weakest labor force participation since December of last year.
Federal Reserve Chairman Jerome Powell came out this week and indicated the central bank is set to pivot away from its aggressive rate hikes. But he couched the announcement in hawkish terms. The markets bought the pivot and ignored the hawkishness. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey puts Powell's remarks in a broader context and speculates about what might be coming down the pike.
GREEN ENERGY IS HURTING THE OIL INDUSTRY... NOT TRUE: Renewable Energy Investment Won't Add Much To Oil DiscoveriesDecember 2, 2022
There's this notion that the Powerful Green Energy Movement is destroying the Global Oil Industry... NOT TRUE. While capital investment is being redirected to adding more wind and solar power, when we look at the numbers, it's a drop in the bucket regarding new oil discoveries...
Gold prices have significant upside potential once the Fed pivots. Gold has been functioning well against the debasement of currencies. Central bank purchases of the physical metal in Q3 were at record highs.
Gold prices rose 2% on Thursday to climb above the key $1,800 per ounce pivot, as the dollar weakened on the prospect of slower rate hikes from the Federal Reserve and signs of cooling U.S. inflation.
US dollar strength and central bank tightening have weighed heavily on the gold market in 2022. In the near term, there is room for more downside with further tightening expected. The medium-term outlook looks more constructive
JPMorgan will join HSBC in storing bullion for the world's biggest gold-backed exchange-traded fund (ETF), the fund's operator said on Thursday, ending its rival's sole guardianship of the $52-billion stash of gold.
JPMorgan Chase & Co. will store gold held by the world’s biggest exchange-traded fund in its vaults, a major coup for the bank’s bullion business.
Fed’s Williams Says Policy Makers Have a Ways to Go Before Rates High EnoughDec 1, 2022 - 12:27:56 PST
Federal Reserve Bank of New York President John Williams said further interest-rate increases are needed to curb inflation.
The Federal Reserve’s campaign to tighten financial conditions has resulted in notably increased borrowing by US banks at the central bank’s discount window, normally a last-resort funding source.
Wells Fargo & Co. cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.