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US Services Surveys Signal "Bout Of Stagflation" Ahead, Employment Contracts Most Since COVID CollapseJul 6, 2022 - 07:24:37 PDT
With sentiment in freefall, and US macro data serially surprising to the downside - enough to prompt dramatic reductions in expectations for The Fed's rate-hike trajectory - a
So there’s a real chance that the Fed switches to more dovish language before it starts meaningfully tightening. The catalyst is going to be whether or not we get a couple of drawdowns in the CPI numbers. With energy prices drifting lower over the last month and the last CPI reading coming in at a scorching new high, there’s room for the appearance of inflation dwindling, even if it really isn’t.
Gold prices staged a slight recovery on Wednesday as some investors resorted to bargain hunting after a more than 2% fall in the previous session, while focus was also on minutes of the U.S. Federal Reserve's last monetary policy meeting.
A key part of the U.S. Treasury yield curve stayed inverted for a second straight day on Wednesday, in a sign of growing angst in the world's biggest bond market over recession risks. In London trade, the gap between two-year and 10-year yields was at -1.3 basis points, having dropped into negative territory for the first time in three weeks on Tuesday. An inversion of this...
The US economy is firmly in the middle of a slowdown that’s turning out to be worse than expected amid the war in Ukraine and China’s Covid Zero policy, according to Morgan Stanley strategists.
China’s debt will likely hit a record this year as the central bank tries to boost credit and shore up the struggling economy, according to a government-backed think tank.
"The two certainties in this world of uncertainty today is that profits growth is going to continue to slow and liquidity is going to continue to tighten," the firm's deputy chief investment officer told CNBC's "Fast Money" on Tuesday. "That's not a good environment to be jumping into these speculative bubble stocks."
Sales contracts for Manhattan apartments plunged by nearly a third in June as the city's scorching real-estate market started to cool amid recession fears.
Mortgage demand dropped last week, even as mortgage rates fell, according to the Mortgage Bankers Association.
Home prices in nations such as Canada, Australia, and the U.S. are on the verge of a decline, Capital Economics’ chief economist writes. But not every country can expect price drops of the same magnitude.
The Federal Reserve will unveil details of what policy makers debated last month that may shed light on how they view the near-term path for interest rates amid surging inflation and signs of a slowing economy.
Minutes from the June meeting of the Fed and JOLTs job openings will give investors their latest chance to revise expectations of monetary policy.
Copper plunged below $7,500 a ton as fears of a global economic slowdown piled pressure on industrial metals and deepened their retreat from record highs just months ago.
With the European economy lurching toward a recession, traders are growing more convinced that the euro breaking parity with the dollar is imminent.
Central banks globally added another net 35 tons of gold to reserves in May, according to data compiled by the World Gold Council. This follows on the heels of a net 19.4-ton increase in gold holdings in April and an 84-ton surge in gold reserve through Q1.
China appears to be chipping away at dollar dominance.While there is no indication that the dollar is in imminent danger of toppling from its perch as the global reserve currency, more central banks are warming up to the yuan.
SILVER OUTPERFORMS GOLD: Why The Cost Of Production Tends To Be The Floor In The Metals PricesJuly 6, 2022
Today was a rare event. Silver outperformed gold, platinum, and pallidum. How so? Typically, silver will be the weakest of the metals. However, due to the Cost of Production analysis that we provide at the SRSrocco Report, during this weekend update, we believed that silver would hold up better than gold, which is precisely what we saw today...
The latest update to our central bank holdings data set – capturing data to end-May – is now available. It shows that in May, central banks reported adding a net 35t to global gold reserves.
Gold Price drifted lower for the second successive day on Tuesday and weakened further below the $1,800 mark during the early North American session.
The euro fell to its lowest level in two decades on Tuesday, sliding more than 1%.