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Everyone’s Been Waiting for a Global Recession, and We Might Have Just Hit a ‘Tipping Point’Oct 19, 2022 - 07:34:08 PDT
Oil prices are about to go up, and it could be the “tipping point” for a global economic downturn.
Oct 19, 2022 - 07:08:33 PDT
The swelling national debt number, edging closer to the 31.4-trillion-dollar statutory ceiling the U.S. Congress placed on the government’s borrowing ability, has raised concerns about U.S. fiscal sustainability and its negative spillover effects on global financial markets.
Oct 19, 2022 - 06:16:16 PDT
Gold will rebound next year, despite higher interest rates, according to a survey of the bullion industry. Delegates gathered in Lisbon for the London Bullion Market Association’s annual conference expect prices to rise to $1,830.50 an ounce by this time next year, about 10% above current levels. The survey included the world’s top traders, refiners and miners.
Oct 19, 2022 - 06:07:53 PDT
Local currencies are weakening worldwide amid a surging U.S. dollar, leading to skyrocketing prices for essential goods.
Eurozone CPI slightly lower than expected but the month-on-month figure shows that inflation remains sticky. ECB to deliver on hawkish rhetoric at next week’s ECB meeting
For one of the world’s largest hedge funds, the UK pension fund crisis is just starting as central banks around the world raise interest rates and turn off quantitative easing.
The Dutch central bank (DNB) said on Wednesday it has called on pension funds in the Netherlands to review their readiness to weather a sudden spike in interest rates following turmoil among British funds.
The Bank of England will start its delayed bond sales early next month, refocusing on the fight against record inflation after averting the threat of a market meltdown.
The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July in a new blow for households grappling with a cost-of-living crisis.
Fed Can’t Pause Rate Hikes With Core Inflation Accelerating, Kashkari SaysOct 19, 2022 - 05:50:45 PDT
\The Federal Reserve can’t pause its campaign of monetary policy tightening once its benchmark interest rate reaches 4.5% to 4.75% if “underlying” inflation is still accelerating, Minneapolis Fed President Neel Kashkari said.
The Federal Reserve’s influential staff judges that under the surface the US economy is running even hotter than they thought, helping to explain why inflation remains at a 40-year high and providing reason to expect even more interest-rate hikes.
With homebuilder confidence collapsing - especially expectations of future sales - housing starts and permits were expected to slide in September but the results were mixed... US Housing starts plunged 8.1% MoM in September (worse than the -7.2% expected), but the forward-looking permits unexpectedly rose 1.4% MoM (-0.8% MoM exp) and August was revised to a slightly smaller drop.
Demand for mortgages to buy a home and to refinance fell again, as interest rates kept rising.
US mortgage rates continued to climb last week, advancing to a two-decade high and escalating the downturn in the housing market.
Faltering home prices are hurting investors’ demand for junk-rated mortgage securities sold by housing giants Fannie and Freddie.
US equities are pricing in the highest odds of a recession than any other asset class and may be poised for more losses, according to Citigroup Inc.’s quantitative strategists.
Procter & Gamble Co. posted sales that beat analyst estimates while warning that full-year earnings will come in at the low end of its forecast because of currency fluctuations and higher inflation.
World stocks were a touch softer on Wednesday with sentiment caught between upbeat earnings and further signs that strong inflation will keep central banks firmly in rate-hiking mode. Data meanwhile showed British inflation back to a 40-year high at 10.1% in September, piling pressure on the Bank of England to hike rates again. The Federal Reserve may need to push its key rate...
Jeff Bezos Is the Latest To Warn on the Economy, Saying It’s Time to ‘Batten Down the Hatches’Oct 19, 2022 - 05:29:08 PDT
Amazon founder Jeff Bezos has become the latest corporate leader to warn about the state of the economy.
Gold is nature's money.Aristotle listed four characteristics of sound money: it must be durable, portable, divisible, and have intrinsic value. Gold possesses all of these characteristics, which is why gold has served as money for thousands of years.