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Global bonds are on the cusp of entering a bear market after the fastest US inflation in four decades fueled bets the Federal Reserve will make its biggest interest-rate hike since 1994 this week.
DoubleLine Capital Chief Executive Officer Jeffrey Gundlach said the Federal Reserve should raise its target interest rate to 3% on Wednesday, calling for a hike that would be dramatically larger than what most forecasters are predicting.
The Fed Must Do More Than Raise Rates by 75 Points to Restore its Credibility, El-Erian: BloombergJun 15, 2022 - 06:08:22 PDT
The central bank has to regain control of the inflation narrative to avoid inflicting more economic damage and to restore its credibility.
Jun 15, 2022 - 06:04:15 PDT
European Central Bank’s policymakers were holding a rare, unscheduled meeting on Wednesday to discuss a blowout in borrowing costs for some eurozone nations, fanning speculation the bank may be gearing to act to calm markets.
The Fear & Greed Index uses slowing momentum as a signal for Fear and a growing momentum for Greed.
Amid record low consumer sentiment, crashing asset markets, and tumbling savings rates, it is no surprise that May retail sales were a disappointment but the 0.3% plunge was remarkable relative to a 0.1% expected rise and downwardly revised 0.7% MoM rise in April.
But the latest Business Roundtable quarterly survey of America's top business leaders finds optimism has continued to plummet amid concerns over what the next six months may hold for the U.S. economy.
Jun 15, 2022 - 05:50:09 PDT
Globalization provided four decades of deflationary pressure. We are now headed in reverse.
Jun 15, 2022 - 05:45:10 PDT
Ukraine's revenue is less than half of what it's spending. So far, the US has authorized $54 billion in spending for Ukraine that is meant to last through the 2022 fiscal year, which ends on September 30 for the federal government.
Jun 15, 2022 - 05:43:03 PDT
China is "willing to continue to offer mutual support (to Russia) on issues concerning core interests and major concerns such as sovereignty and security," Chinese state broadcaster CCTV reported Xi as saying.
Jun 15, 2022 - 05:40:04 PDT
China Construction Bank Corp (CCB) started selling 60 billion yuan ($8.9 billion) in bonds on Wednesday, joining peers as they rush to replenish capital in response to tighter regulations and government calls to support a virus-hit economy. China's government has asked banks to help...
U.S. President Joe Biden's public approval rating fell to 39% in its third straight weekly decline, approaching the lowest level of his presidency, according to a Reuters/Ipsos opinion poll completed on Tuesday.
0:00 Intro 5:30 Why is Inflation Breaking Everything? 9:55 Indicators 12:36 Is inflation a big deal?
16:51 Destroying Wealth 21:13 Bond Markets 27:45 Bonds and Interest Rates
31:51 Volatile Commodities 34:35 Oil 38:45 Reducing Spending 46:00 The Global Markets
54:30 The Meta Black Swan Event 1:00:20 Bankrupting Sovereigns
1:07:45 The Great Reorganization 1:12:00 What Happens Next? 1:15:40 Closing
Turmoil in the US Government Bond Market Continues, Fueled by the Erosion in Fed Policy CredibilityJun 15, 2022 - 05:24:55 PDT
Sadly, such a dislocation in interest rate risk tends to have several adverse economic, financial and social spillovers. It also deepens the Fed’s lose-lose dilemma.
Eight months after the Crypto euphoria that had made them even richer, they are watching helplessly as the billions of dollars they had made disappear.
The 500 wealthiest people in the world have lost a combined $1.4 trillion this year, including $206 billion on Monday alone, according to the Bloomberg Billionaires Index.
The Federal Reserve doesn't have a very good track record. It was wrong about transitory inflation. It was wrong about peak inflation. And it's almost certainly wrong in thinking the economy is strong enough to withstand tighter monetary policy to fight inflation.But President Joe Biden trusts the Fed. The cornerstone of his inflation-fighting plan is to recognize the central bank “has the primary responsibility to control inflation.” He took a shot at President Trump for "demeaning" the Fed. On the other hand, Biden said he will respect the Fed and its independence.
Producer prices continue to rise at a near-record pace, further undercutting the notion that we've reached "peak inflation."
Jun 14, 2022 - 13:27:32 PDT
Jeff Clark participated in a gold forecast panel at VRIC and talked about why he "must" be long gold right now and when he would sell, and why he's allocating capital to gold at this point in time
A metal detectorist in Hungary has unearthed a tiny silver coin marked with the name of a famous Viking king that was lost almost 1,000 years ago.