Gold has all the potential to go unprecedentedly high. But silver will be gold on
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For all its potential destruction, Ian doesn't yet appear on the world markets radar. But that's mainly because global investors are fighting a financial firestorm of their own - one spreading back and forth across major economies as governments and central banks attempt to go their own ways in dealing with raging inflation, an energy shock and looming recessions.
The Biden administration is laying out its plan to meet an ambitious goal of ending hunger in the U.S. by 2030, including expanding monthly benefits that help low-income Americans buy food.
Sep 27, 2022 - 07:57:24 PDT
Congressional negotiators agreed to include nearly $12 billion in new spending on the war in Ukraine in a stopgap spending bill that will likely be voted on this week, Reuters reported on Monday. Sources told Reuters that the $12 billion will include $4.5 billion in funding for arms being sent to Ukraine and $2.7 billion …
The World Bank has two ambitious goals neither of which is climate change.
Not only are banks having to set aside extra capital that can’t be used for lending, they are also facing a dwindling deposit base. Investors are increasingly taking cash away from banks and putting it into money market funds. A major reason for this is that the banks pay investors below what money market funds can get using the Fed’s Reverse Repo facility. As the chart below shows, the Reverse Repo usage exploded higher last year as, thanks to the Fed’s money printing, institutions had nowhere else to put their cash.
Yields on 10-Year Treasury Notes, currently at 3.70%, are likely to hit 4.90% before they level off. It is hard to imagine an increase of that magnitude not disrupting the U.S. and global economies severely.
Why do Fed policies seemingly make no sense? Do Fed economists know something the rest of us don't? Perhaps they are worried about a global energy crisis and food shortage and are desperately..
The prospect of higher rates has jolted the property market Prices expected to fall as much as 15% as borrowing costs rise
The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012Sep 27, 2022 - 07:25:37 PDT
...the 20-City Composite index tumbled 0.44% MoM, far below the 0.20% expected increase, and a sharp decline from the downward revised 0.19% increase in July; more importantly, this was the first sequential drop in home prices tracked by Case-Shiller since March 2012, or ten and a half years.
Durable Goods Drop Most Since February On Transportation Weakness, Offset By Strong Core CapEx Sep 27, 2022 - 07:24:41 PDT
Following the June surge, which led to a modest July drop, durable goods were expected to slow further by sliding -0.3% M/M, and moments ago we learned that indeed in August durable goods slid -0.2%, fractionally above expectations if still the biggest sequential drop since February, however on a YoY basis, growth rebounded back to double digits, rising 11.2% after July's 9.2%.
Gold rose from its lowest level in more than two years, as the dollar slipped after hitting a fresh record.
Americans are taking extra hours or re-thinking their jobs entirely as daily costs surge.
China’s shaky recovery continued in September, with a pickup in car and homes sales in the biggest cities compensating for weaker global demand and falling business confidence.
Larry Summers Blasts UK Tax Cuts As ‘Utterly Irresponsible’ and Warns of Possible ContagionSep 27, 2022 - 05:36:47 PDT
Former U.S. Treasury Secretary Larry Summers said there were "hallmark" signs that the U.K.'s credibility had been lost.
French Central Bank CBDC Projects Aim to Manage DeFi Liquidity, Settle Tokenized AssetsSep 27, 2022 - 05:34:17 PDT
The Banque de France Tuesday announced new projects to achieve the benefits of central bank digital currencies (CBDCs) used at a wholesale level by banks and financial markets.
US Treasury yields surged on Monday, with poor demand for a two-year note auction triggering renewed selling that propelled key benchmarks higher by more than 20 basis points -- and sent the 10-year rate up by the most since the March 2020 Covid crash.
Monday brought a stark warning for Wall Street daredevils: Stocks are still in free fall and bearish sentiment is far from getting exhausted -- especially with hawkish central bankers rattling recession-obsessed markets like this.
Goldman and BlackRock Warning That Markets Are Yet To Price in the Risk of a Global RecessionSep 27, 2022 - 05:22:39 PDT
Flagging rising real yields as a major headwind, Goldman strategists cut equities to underweight in the US investment bank’s global allocation over the next three months while staying overweight cash. BlackRock is advising investors to “shun most stocks,” adding that it is tactically underweight developed-market shares and prefers credit in the short term.
Wharton’s Siegel Accuses Fed of Making One of the Biggest Policy Mistakes in Its 110-Year HistorySep 27, 2022 - 05:17:18 PDT
He argued that the Fed made a massive policy mistake last year by not moving to tighten monetary policy before inflation got out of hand, and he mocked the Fed and Powell for insisting inflation would quickly fade on its own. And now, Siegel said, the Fed is making another mistake by raising interest rates and tightening monetary policy too aggressively.
Fed’s Evans Says He’s Getting a Little Nervous About Going Too Far, Too Fast With Rate HikesSep 27, 2022 - 05:15:48 PDT
The Fed's Charles Evans said he remains "cautiously optimistic" that the U.S. economy can avoid a recession provided there are no further external shocks.