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Precious metals news
Jul 13, 2022 - 07:35:52 PDT
This morning: The immediate threat is inflation – how could a strong CPI print destablise markets, but inflation is also a question of what shocks are still to come, and investing accordingly. What if a big No-see-Em shock is still to come – a Chinese financial crisis?
"The economic barriers that the United States and Europe imposed against Russia did not work," Bolsonaro told supporters, adding that his position towards Putin and the war "was one of balance."
In the roughly 18 months since he took office, Biden's policies have only added to America's long-term budget deficit, which is getting worse and worse as government spending outpaces tax revenue.
Investor Cathie Wood, chief executive of Ark Investment Management, on July 12 reiterated her view that we’re suffering from deflation, not inflation.
International Monetary Fund Managing Director Kristalina Georgieva warned of a global debt crisis in the making as central banks raise interest rates to curb inflation, increasing debt-servicing costs for vulnerable nations.
Financial stewards of the biggest economies in the world descend on the tropical island of Bali this week at a time when rapid inflation threatens to further destabilize populations and turn fragile recoveries into recession.
The European Central Bank is watching the euro’s drop because of its effect on consumer prices, according to the first policy maker to comment on the currency since it almost breached parity with the dollar.
Jul 13, 2022 - 05:41:35 PDT
The Federal Reserve is reversing its excessive monetary stimulus policies left over from the financial crisis of 2008 (and Covid) and the mortgage industry and potential home buyers are paying the price.
US Consumer Prices Soared In June, Americans' Real Wages Fall For 15th Straight MonthJul 13, 2022 - 05:39:07 PDT
With The White House having desperately tried to front-run this morning's inflation print, analysts were expecting a jump higher led by food and energy costs. They were right in direction but it was way worse as the headline CPI soared 9.1% YoY (vs 8.8% exp and 8.6% prior)...
Dow Futures Tumble More Than 200 Points After Much Hotter-Than-Expected Inflation ReportJul 13, 2022 - 05:36:02 PDT
"The Fed's credibility will be tested in coming months with the release of inflation numbers and corporate earnings," said Andy Sparks, head of portfolio management research at MSCI. "The Fed's recent aggressive actions to bring down inflation also run the risk of overshooting, pushing an economy that had been showing signs of weakness into a full scale recession."
Former Senior U.S. Official John Bolton Admits to Planning Attempted Foreign CoupsJul 13, 2022 - 05:34:34 PDT
John Bolton, a former U.S. ambassador to the United Nations and former White House national security adviser, said on Tuesday that he had helped plan attempted coups in foreign countries.
Democrats Demand $650 Billion In IMF Aid For Ukraine War Relief – In The Form Of SDRs Jul 13, 2022 - 05:32:08 PDT
As the discussion on Central Bank Digital Currencies (CBDCs) has grown over the past two years, one issue consistently pops up in relation – The creation of a global currency system. And along with that idea there is always another term mentioned – Special Drawing Rights (SDRs). In the face of multiple global crisis events, the IMF is enjoying an elevated position as the “problem...
Jul 13, 2022 - 05:29:32 PDT
Foreign exchange reserves held with the RBI comprise four components -- foreign currency assets (FCA), gold, Special Drawing Rights (SDR), and reserve tranche position (RTP) with the International Monetary Fund (IMF).
Seething Sri Lanka Stops President’s Former Finance Minister Brother From Flying Out of the CountryJul 13, 2022 - 05:26:37 PDT
Sri Lankan immigration officials stopped the president's brother and former finance minister Basil Rajapaksa from flying out of the country on Tuesday, as anger mounted over the island's worst economic crisis in decades.
COLOMBO, Sri Lanka (AP) — The president of Sri Lanka fled the country early Wednesday, slipping away in the middle of the night only hours before he was to step down amid a devastating economic crisis that has triggered severe shortages of food and fuel.
IMF Slashes US GDP Outlook, Hikes Unemployment Forecast, Sees Miracle In InflationJul 13, 2022 - 05:19:37 PDT
The US’s “policy priority must be to expeditiously slow price growth without precipitating a recession,” the IMF’s executive directors said.
Barring a major surprise, the CPI data could coalesce investors' expectations for a 75-basis-point interest rate hike by the Fed later this month, as the U.S. central bank seeks to rein in inflation.
The latest seasonally adjusted inflation rate for June came in at a blistering 1.35% MoM and 9.11% YoY, beating expectations of 1.1% and 8.8% respectively. All prices rose in May with 8 of 11 categories rising faster than the 12-month trend, representing 94.7% of the total CPI.
The slowdown in money creation could be signaling a recession.The growth in the money supply has dropped precipitously over the last several months. As measured by M2, the money supply expanded by 6.6% year on year. That was down from April's growth rate of 8.21%. In May 2021, M2 grew by 14.30%. M2 growth peaked at a record 26.91% in February 2021.
Air is hissing out of the housing bubble faster and faster every week.Pending sales plunged in June and the inventory of homes on the market jumped as mortgage rates continue to rapidly rise.