Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin fell 2.4% to $20,474 on Monday morning in New York.
The bond market is pricing in a sharp deceleration in inflation over the next year, as aggressive tightening by the Federal Reserve to counter the steepest surge in prices in a generation ramps up recession concerns. The deceleration, which economists also call disinflation, is characterized by a slowing of the rise of overall prices and likely would be a welcome respite for financial...
Shares slid on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season in which profits will be under pressure. The STOXX index of European shares fell 1.3%, with S&P 500 futures down 0.8% and Nasdaq futures off 0.9% as an upbeat U.S. June payrolls report raised expectations...
Base metals had their worst quarter since 2008 in the three months to June, and the retreat deepened in July. Copper plunged briefly below $7,500 a ton in intraday trading last week, its lowest since late 2020, and is down about 29% from a March record. Iron ore is down about a third from its highest this year, and aluminum is about 40% lower.
Boj’s Kuroda Warns of High Economic Uncertainty, Repeats Easy Policy BiasJul 11, 2022 - 05:57:37 PDT
Bank of Japan (BOJ) Governor Haruhiko Kuroda on Monday warned of "very high uncertainty" over the economic outlook and stressed anew the central bank's readiness to ramp up stimulus as needed to underpin a fragile recovery. The remarks reinforce market expectations the BOJ will remain an outlier among a global wave of central banks raising interest rates to combat soaring inflation.
Big U.S. Banks’ Second Quarter Profits to Tumble on Higher Bad Loan ReservesJul 11, 2022 - 05:55:41 PDT
Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Analysts expect JPMorgan Chase & Co will report a 25% drop in profit on Thursday, while Citigroup Inc and Wells Fargo & Co will show 38% and 42% profit declines, respectively...
US inflation data in the coming week may stiffen the resolve of Federal Reserve policy makers to proceed with another big boost in interest rates later this month.
The probability of an economic contraction has increased to 45% from 30% in the previous survey and 20% before Russia invaded Ukraine. Germany, one of the most-vulnerable members of the currency bloc to cutbacks in Russian energy flows, is more likely than not to see economic output shrink.
Just as it proved difficult for the Fed last year to tell when to start raising rates, it is tough to know when to stop. What happens if the economy begins slowing sharply but inflation stays high?
China Warns Asian Nations to Avoid Being Used as ‘Chess Pieces’ by PowersJul 11, 2022 - 05:45:29 PDT
Chinese foreign minister Wang Yi said on Monday that countries should avoid being used as "chess pieces" by global powers in a region that he said was at risk of being reshaped by geopolitical factors.
United States Secretary of State Antony Blinken said on Saturday he had discussed Russian aggression in Ukraine during more than five hours of talks with Chinese Foreign Minister Wang Yi, and raised concerns over Beijing's alignment with Moscow.
China Crushes Mass Protest by Bank Depositors Demanding Their Life Savings BackJul 11, 2022 - 05:34:58 PDT
Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis.
President Vladimir Putin warned the West on Friday that continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world.
In JM Barrie’s play Peter Pan, the audience is asked to clap if they believe in fairies. If they fail to clap, the character Tinkerbell the fairy will die. A
Sri Lanka's misery should serve as "a warning" to the rest of the world dealing with the global food and fuel crisis, the United Nations said on July 7.
The US government increased its total debt by $69 billion in June. The average interest rate on all of that debt is also going up, a growing problem for the borrow and spend government.The Treasury Department continues to roll short-term Treasury Bills into longer-dated securities, allowing $148B in Bills to roll off the debt statement this month.
The mainstream seems to have conceded that the economy is heading toward a recession. But most people aren't too worried. They seem to think the downturn will turn out short and shallow. In his podcast, Peter explains why the recession will more likely be long and deep. Since people don't understand the nature of the boom, they can't understand the nature of the bust.
METALS & MARKET UPDATE JULY 10th: Another U.S. Natural Gas Plant Explosion This Weekend & What Is Happening With ...July 10, 2022
This weekend, another U.S. Natural Gas Plant explosion took place to add to the list in just a few short months. Last month, the large Freeport LNG Plant suffered a blast and will be out of service for another three months. This is terrible news for Europe. Also, what is taking place in the precious metals prices...
As inflation, rising cost of capital and recession pressures squeeze revenue & earnings expectations for corporations, the Q2 earnings calls about to start over the next few weeks may be the next trigger to send stocks falling.