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The trillions of dollars in overnight cash tucked away daily at the Federal Reserve could turn into a major headache for banks that could squeeze their balance sheets and impair their ability to lend. The Fed's reverse repurchase facility (RRP) has attracted a wide array of market participants, helping mop up excess liquidity in the financial system. Led by money market funds, volume...
Yields on 10-year US Treasuries could reach 2% within the next six to 12 months amid more significant economic slowdown, according to Bank of America Corp.
Traders are bracing for US House Speaker Nancy Pelosi’s expected arrival in Taipei Tuesday to raise tensions with China, with stocks sliding and haven assets such as the yen and Treasuries climbing.
Pelosi's Plane Reportedly Headed For Taiwan As PLA Forces Surge Across StraitAug 2, 2022 - 05:25:52 PDT
It's after 7:00pm in Taiwan, and Reuters reports that the military aircraft likely carrying House Speaker Nancy Pelosi and her delegation has departed Malaysia and could be bypassing the South China Sea, where the Chinese navy has been conducting sporadic military drills.
Stock futures were lower on Tuesday as House Speaker Nancy Pelosi's trip to Taiwan had investors focused on geopolitical tensions ahead of the opening bell.
Yesterday, an Israeli law went into effect banning the use of cash in business transactions over 6,000 NIS ($1,700). Private cash transactions can't exceed 15,000 NIS ($4,360). This is yet another escalation in the "war on cash."
GDP fell 0.9% in the second quarter. This followed on the heels of a -1.6 GDP print in Q1. Back-to-back contractions in GDP have historically been defined as a recession, but the Biden administration and their apologists insist we aren't in a recession. Peter Schiff appeared on the Megyn Kelly show to talk about the White House recession spin. He said this recession is just getting started.
Jeff Clark of GoldSilver.com says the Fed is a marketing machine not a truth machine, and talks about why raising rates won't bring down inflation, how gold performs in recessions, the ounces of gold to buy a house and why it'll fall, and why gold will see a new record high in 2023
GLOBAL OIL INDUSTRY SLEEP-WALKING OVER THE ENERGY CLIFF: Killing The Oil Industry 10 Million Barrels At A TimeAugust 2, 2022
It amazes me how the market fails to realize that the global oil industry is sleepwalking over the ENERGY CLIFF. Instead of being deeply concerned about our future, investors believe this is a temporary energy crisis solved by just investing more money in finding oil. And... it's even worse than that...
Gold neared a one-month high on Monday on the back of a decline in the U.S. dollar, with investors awaiting economic data that could influence the path of Federal Reserve policy tightening.
Much of this week has been spent talking about the "r" word. A more precise description of where things stand is the "s" word: stagflation.
Today’s Energy Crisis Spells Disaster For The Global Economy: Gail TverbergAug 1, 2022 - 12:23:05 PDT
The global economy could soon face a major crisis as GDP shrinks and the cost of energy continues to rise, leading to disastrous outcomes...
Former Oil Exec Warns Recession Comes Alongside Energy Crises: ‘Gas Will Exceed $5 Again’ SoonAug 1, 2022 - 12:19:05 PDT
Economic output already fell over the first three months of the year, with GDP tumbling 1.6%, the worst performance since the spring of 2020, when the economy was still deep in the throes of the COVID-induced recession.
America is the engine of the global economy, and it is spluttering. Since at least 1949, every time there has been two consecutive quarters of contracting GDP a recession has been declared. This time could be different, but we don’t think so.
Recent Economic Data Have Been the Fed’s ‘Worst Nightmare,’ Economist SaysAug 1, 2022 - 11:07:02 PDT
The economy is looking pretty dreadful, and that won't make the Federal Reserve's job any easier as it tries to engineer a soft economic landing, one top Wall Street economist warns.
Soaring Inflation Drives More Americans To Live Paycheck to Paycheck Despite 5.1% Increase in WagesAug 1, 2022 - 11:02:42 PDT
Increased wages can't catch up to soaring prices of consumer goods, prompting Americans to live paycheck to paycheck.
However, after this morning's data, The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 1.3 percent on August 1, down from 2.1 percent on July 29.
The same people claiming inflation was transitory are the same ones telling you there is no recession. Isn’t that strange? This Wednesday’s press conference, following the Fed raising rates by 75-bps, shows how critical the act of sticking to script is for the purpose of public policy.
The more employees lose their jobs, the more healthy the company appears to be when shareholders examine quarterly earnings; it is inevitable that layoffs will continue. There have been over 30,000 job cuts by tech companies in the US in the past few months alone, and unemployment claims have climbed to 8-month highs.
"This is a reversal of #Kissinger position in the first weeks after the start of the #UkraineWar. Henry Kissinger advises Ukraine not to cede any territory to Russia.” This news is just in the nick of time too, given the US withdrawal from Afghanistan that Trump promised but left up to Biden to do.
Phew!