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Jul 7, 2022 - 06:14:05 PDT
Inflation is the word on the lips of every investor right now. With the world’s economies reeling from the Covid-19 pandemic, broken supply chains, and the first major conflict on the European continent since 1945, prices of everything from grain to crude oil are skyrocketing.
Jul 7, 2022 - 06:09:17 PDT
FBI Director Christopher Wray called China the "biggest long-term threat" to both the U.S. and the U.K.
Former Russian President Dmitry Medvedev said attempts by the West to punish a nuclear power such as Russia for the war in Ukraine risked endangering humanity, as the near five-month conflict leaves cities in ruins and thousands homeless.
The number of Americans who filed for unemployment claims for the first time rose to 235k last week, up from the 231k the prior week. The 4-week average is now at 232.5k - the highest since the first week of December...
The rout is forcing a rethink of frameworks which have lengthy ruled investments within the $100 trillion area.
Removing China Tariffs Won’t ‘Have Any Effect on Inflation,’ Economist SaysJul 7, 2022 - 05:46:45 PDT
China Beige Book Chief Economist Derek Scissors does not think a tariff rollback will curb inflation.
“We have a narrow proposal that will probably come from the Biden Administration. It’s not going to have any effect on inflation,” Scissors told Yahoo Finance Live.
Jul 7, 2022 - 05:45:51 PDT
U.S. President Joe Biden’s announcement at the 2022 G7 meeting that $600 billion would be given to the developing world should set off alarm bells across the West.
Japan’s economic recovery is forecast to be losing momentum amid the growing concern over a synchronized global slowdown, according to economists surveyed by Bloomberg.
Euro Continues to Slide Toward Dollar Parity — And Could Fall Even FurtherJul 7, 2022 - 05:41:33 PDT
The euro dropped below $1.02 on Wednesday, continuing its slide to new 20-year lows and potential parity with the U.S. dollar.
Just as we predicted over a year ago, China - which remains painfully limited in how it can kickstart its slowing economy - is preparing for a massive fiscal stimulus in the form of a tidal wave of local government bond sales.
Sri Lanka Hikes Rates in Face of Record Inflation, Despite Economic ContractionJul 7, 2022 - 05:37:16 PDT
Sri Lanka raised interest rates to the highest level in two decades on Thursday, saying it had to head off runaway inflation to avoid even deeper pain for an economy that is already in crisis and is shrinking.
Runaway Inflation Soars to Nearly 80% In Turkey and Food Prices Have DoubledJul 7, 2022 - 05:34:28 PDT
The lira, Turkey’s national currency, has simultaneously tumbled in value throughout 2022. It’s currently worth about 20% less versus the U.S. dollar than on January 1.
India’s central bank has relaxed debt-market rules for foreign portfolio investors and allowed commercial banks to raise interest rates on nonresidents’ foreign-currency deposits in a bid to support the rupee and boost forex reserves.
Pakistan is using up its foreign exchange reserves more quickly than previously anticipated because prices of foreign goods are going up. If the situation doesn’t change, the country faces bankruptcy.
Nigeria’s Currency Falls to Record Low as Traders Track Central Bank’s Latest Dollar SaleJul 7, 2022 - 05:26:02 PDT
Nigeria’s currency fell to the lowest on record after traders adjusted prices to reflect the rate Central Bank of Nigeria sold the currency amid a lack of dollar supply in the authorized foreign-exchange market.
Russian President Vladimir Putin has found another weapon to use against European countries supporting Ukraine -- Kazakhstan’s crude -- and it will cost him almost nothing, writes Bloomberg oil strategist Julian Lee.
Fundamentals in the retail sector continue to erode, according to Wells Fargo, suggesting the ongoing consumer spending slowdown may not yet be priced into related stocks.
U.S. stock futures pushed higher in pre-market trading Thursday as investors weighed minutes from the Federal Reserve’s last meeting and looked ahead to the release of weekly employment data.
The May trade deficit came in at -$86B. This was another MoM decline but the monthly deficit is still significantly larger than it was at any point before 2022 as shown below. One of the biggest concerns is the Services Surplus contracting by 8.1%.
The silver-gold ratio hit a two-year high this week, indicating that silver is significantly undervalued compared to gold.