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Mortgage Refinancing Drops to a 22-Year Low As Interest Rates Surge Even HigherSep 28, 2022 - 05:52:07 PDT
Mortgage rates drove higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That hurt mortgage demand.
Global ratings agency Moody's has warned the British government that plans for unfunded tax cuts could lead to larger budget deficits and higher interest rates, threatening the country's credibility with investors.
San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the U.S. central bank is "resolute" about bringing down high inflation but also wants to do so "as gently as possible" so as not to drive the economy into a downturn.
As crazy as it sounds, all the turmoil that’s ripped through Wall Street over the past week has still left debt markets in Corporate America relatively unscathed.
Sep 28, 2022 - 05:41:11 PDT
The recent sharp drop in the British pound and in U.K. government bonds means traders are at panic stations, with repercussions being felt across the globe. The spectacular drops in the past month were sparked by a dramatic policy decision to borrow billions to cut taxes to supercharge growth. But they are the culmination of years of deterioration.
BOE's Panic: Billions In Margin Calls "Death Spiraling" Into A Complete Bond Market CollapseSep 28, 2022 - 05:41:11 PDT
It's only fitting that literally hours after the most clueless dwarf in capital markets history, Janet "No crisis in my lifetime" Yellen said that financial markets are functioning well, that the Bank of England literally panicked, and shocked markets by resuming unlimited QE.
El-Erian Says Bank of England’s Latest Rescue Move Shows We Are Still in Central Bank ‘La-La Land’Sep 28, 2022 - 05:37:55 PDT
CNBC PRO: "This is responding to the risk of market malfunction," said El-Erian.
U.S. stock futures fell in the early trade Wednesday as the 10-year Treasury yield – a key economic linchpin – briefly spiked past 4%, marking a closely watched level for the worst bond sell-off in decades.
nvestors are becoming increasingly bearish on stocks as persistently high inflation has compelled the Federal Reserve to hike rates aggressively, with Bank of America analysts and the American Association of Individual Investors (AAII) both saying that investor pessimism has hit levels not seen since around the time of the financial crisis of 2008–09.
U.S. Treasury Secretary Janet Yellen said on Tuesday the United States was monitoring developments in Britain after the government unveiled a fiscal programme that sent the pound to a record low against the dollar, the Financial Times reported.
Bank Of England Capitulates: Restarts QE Due To "Significant Dysfunction" In Bond Market, "Material Risk" To Financial Stabi...Sep 28, 2022 - 05:27:37 PDT
Just a few days ago we wrote that "Something Is About To Break" and prompt a capitulation from one or more central banks, which oddly was met with mockery in the comment gallery. Also, a few week ago, we said that we are nearing a moment in time when central banks will do QE and rate hikes at the same time.
Sep 28, 2022 - 05:23:20 PDT
*Financial markets are operating normally, doesn't see erratic financial market conditions
*Says she doesn't see any liquidity or deleveraging issues
*Current conditions are tighter as a result of the battle against inflation
*US Treasury is monitoring market conditions closely
Money Supply growth was barely positive in August at $2B and sits well below the $233B seen last year. As the chart below shows, Money Supply growth has collapsed since February. Last year started with five straight months above $200B, whereas 2022 has only seen one month above $100B and that was January.
This is starting to look a lot like the popping of the dot-com bubble with one big difference — inflation.Beginning in mid-June, we saw a significant bear market rally in stocks. But the recent declines have wiped out those gains and more. For instance, the Dow jumped 14% during the 2-month rally. By the close on Friday, Sept. 23, it was once again down 20% from its all-time high. That same day, the NASDAQ closed just 2% off its June low after a 23% rally.
Given historically high inflation, why haven't we seen a big rally in gold and silver?There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it's important to put gold and silver's recent price movements in a broader perspective.In fact, gold has been one of the better-performing asset classes in 2022.
The world is totally unprepared for the implications of the Energy Cliff on the global economy, financial system, and most asset values. I spoke with Dave at Goldcore TV about the "Real Causes" of the global energy crisis. While many believe this energy crisis is "temporary," it's not... it's permanent...
Super-Strong US Dollar Is De-Stabilizing All Other Fiat Currencies - When Will It End?Sep 27, 2022 - 13:28:32 PDT
The US dollar has strengthened so much and so quickly this year that it has become a juggernaut, trampling pretty much every other asset. What repercussions is this creating?
Sep 27, 2022 - 13:14:51 PDT
A leading Chinese economist from one of the country’s top tertiary institutions has highlighted the irreplaceable role of gold in China’s modern monetary and financial system.
Appreciation of the Dollar’ Is Increasing the Risk of Global Stagflation and Recession: El-ErianSep 27, 2022 - 13:09:37 PDT
The dollar's sustained rise is increasing the risk of global stagflation and recession, according to Mohamed El-Erian, the president of Queens' College at Cambridge University.
Albert Einstein famously said that compounding interest is the most powerful force in the universe. The chart below shows how earning a 2-4% yield on gold and silver every year can compound over a 30 year period.