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Biden To Announce Nearly $1BN More In Arms For Ukraine, Including Anti-Ship MissilesJun 15, 2022 - 12:08:23 PDT
The anti-ship rocket systems in particular will be viewed from Moscow as another serious escalation, also given the mid- April sinking of the Moskva by Neptune anti-ship missiles. It was a humiliating blow to Russian forces given it was the flagship of Russia's Black Sea Fleet.
'Big Oil' Responds To Biden's Threats: Here's 10 Things You Can Do To Ease Gas PricesJun 15, 2022 - 12:06:40 PDT
Following President Biden's letter to many 'Big Oil' executives, threatening them with forced production quotas, windfall taxes, and/or price-caps (because all those things have proved so successful in past crises... not), the American Petroleum Institute - which represents 'Big Oil' - sent a letter to the president offering some advice.
Rising oil prices have sent the average price of US gasoline above $5 for the first time in history. Are they going even higher from here? While anything is possible in the immediate term, oil expert Art Berman predicts prices will moderate downwards over the rest of 2022.
Watch Live: Fed Chair Powell Desperately Defend Fed Credibility: June 15, 2022, 2:30pm ETJun 15, 2022 - 11:14:26 PDT
It appears to us that the market is desperately hoping for a more hawkish Fed, which will then usher in a recession.. bring forward the moment when Powell will be forced to flip-flop back to rate-cuts, end QT, and unleash QE to rescue the poor lambs from reality's slaughter... And ask him to explain why The Atlanta Fed just cut its GDP outlook to the point where it is forecasting a recession in Q2.
The Fed hiked rates by a stunning (but expected) 75bps - the biggest hike since 1994. Esther George dissented (preferring 50bps). Fed expresses that is "strongly committed" to fighting inflation
Fed Hikes Its Benchmark Interest Rate by Three-Quarters of a Point, the Biggest Increase Since 1994Jun 15, 2022 - 11:06:09 PDT
The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.
Atlanta Fed Slashes Q2 GDP Forecast To Zero Confirming Technical RecessionJun 15, 2022 - 11:03:24 PDT
Curious why stocks are soaring today ahead of an expected 75bps rate-hike by The Fed (further tightening financial conditions as QT starts shrinking the Fed's balance sheet)?
Rate hikes will push prices higher, not lower.
Wall Street Is on a One-Way Trip to Misery Until Fed Hikes Stop: Jim Bianco WarnsJun 15, 2022 - 08:43:11 PDT
Bianco Research President Jim Bianco sees the Fed's battle against inflation having a costly downside to stocks and bonds.
The Federal Reserve’s missteps in waiting too long to tackle the greatest run-up in prices in four decades has shaken trust across markets and the American public that it is up to the task of curbing inflation.
Real Estate Firms Compass and Redfin Announce Layoffs As Housing Market SlowsJun 15, 2022 - 08:33:44 PDT
In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.
The Housing Market ‘Correction’ Intensifies As Layoffs Hit Redfin and CompassJun 15, 2022 - 08:33:44 PDT
In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.
Mortgage Demand Is Now Roughly Half of What It Was a Year Ago, As Interest Rates Move Even HigherJun 15, 2022 - 08:31:33 PDT
Sharply rising interest rates are decimating refinance volume, and those rates, along with sky-high home prices, are hitting demand from buyers.
Jun 15, 2022 - 08:03:58 PDT
US 30-year mortgage rates have hit the 6% level (and is higher with some major lenders). But the fear of The Fed raising rates even more is causing a rush to lock-in rates.
Homebuilder Sentiment Drops to Lowest Level in Two Years As Housing Demand SlowsJun 15, 2022 - 08:02:06 PDT
Builder sentiment is getting hit by higher interest rates, which are causing a slowdown in housing demand.
“Real Estate Tech” in Existential Crisis as Housing Sours, Stocks Plunge, New Money Out of ReachJun 15, 2022 - 08:00:32 PDT
In short, the party ran out of bamboozle.
Margin Debt Unwinds Further amid Massacre of High-Flying Stocks and Forced SellingJun 15, 2022 - 07:58:26 PDT
Margin debt issued warnings starting in early 2021 that the Big S would hit the fan. Folks blew it off.
Gold prices rose 1% on Wednesday bolstered by a pullback in the U.S. dollar and U.S. Treasury yields, ahead of a potentially aggressive interest rate hike from the Federal Reserve.
Jun 15, 2022 - 06:19:54 PDT
Global buyers of commodities are on track to pay producers $5.2 trillion more in 2022 than they did in 2019 thanks to surging prices, according to a new base case analysis from Citigroup Inc.
Jun 15, 2022 - 06:17:23 PDT
38 year market veteran Kenny Polcari offers his thoughts on today's coming Fed decision and how it will affect markets.