Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Jun 8, 2022 - 10:50:40 PDT
Michael Burry, the investor of "The Big Short" fame, took aim at the US dollar in a Tuesday tweet. He argued the currency is only strong on a relative basis, and rampant inflation is eroding its purchasing power.
Frustration with the sideways movement of gold prices is understandable. But behind the curtain, a new liquidity crisis is brewing. Investors should consider today’s prices a gift and perhaps a last chance to acquire gold at these prices before the real safe haven race begins. Gold is so cheap right now, it’s practically a steal.
Jun 8, 2022 - 08:21:26 PDT
Considering the fact that a simple reversion to trend, if it happened tomorrow, would require the S&P 500 Index to fall back below 2,000, the prospect of an even greater decline is a frightening one, indeed.
The Organization for Economic Cooperation and Development (OECD) has cut its growth forecast for the U.S. economy, blaming high inflation that could take longer to dissipate as supply disruptions persist in part due to the Ukraine war and China's COVID-19 lockdowns.
The Biden Junta is actively destroying the market for food and fuel, civilization's end is the goal, RINS are the means.
Monetary policy and supply-chain issues can both push prices up. However, the recent inflation appears to be largely due to monetary policy. Nominal spending has surged. Supply disturbances have largely worked their way out.
Mortgage Applications Crash To 22-Year-Low As Monthly Payments Rocket HigherJun 8, 2022 - 07:36:58 PDT
Another week, another collapse in the pace of mortgage applications as the Mortgage Bankers Association (MBA) reports a 6.5% week-over-week drop in mortgage applications - the fourth straight weekly drop - to its lowest since 2000. Purchases fell more than refis, tumbling 6.1% WoW (refis fell 5.6% WoW)...
That’s mainly due to increasing concerns about a possible global financial crisis, with central banks in emerging market and developing economies, or about a quarter of survey respondents, intending to add more bullion to their reserves. That’s an uptick from 21% in 2021.
Europe’s 8 Years of Negative Interest Rates, Are Now Forced To Raise Rates—& There’s Still No GrowthJun 8, 2022 - 06:09:36 PDT
To boost growth, the European Central Bank in 2014 took interest rates negative in a historic move. That much-maligned decision will soon be reversed—but the euro zone's problems have hardly improved.
Mounting Debt Means the ‘Fed Put’ Has Shifted From the Stock Market to Treasurys: AnalystJun 8, 2022 - 06:06:25 PDT
Investors get jittery when the 10-year Treasury yield tops 3%. A look at corporate debt levels explains why, says DataTrek's Nicholas Colas.
Consumers throw in the towel. Recession is imminent.
In anticipation of yet another Fed interest rate hike, PNC's Amanda Agati joined Yahoo Finance Live to discuss inflation and consumer spending.
A wild year on Wall Street has traders fretting one of two extreme scenarios will engulf the $23 trillion Treasury market ahead: Either a fresh bond selloff thanks to red-hot inflation -- or a sustained rally on mounting recession risk that sends yields back toward historic lows.
Consumers, accounting for nearly 70% of GDP, are slipping behind and their means to consume are dwindling. Recession odds are increasing.
Oil extended gains after the UAE said prices may well climb further as Chinese demand recovers in the coming months.
Peak U.S. Inflation? This Obscure Corner of the Financial Market Says Otherwise: MWJun 8, 2022 - 05:53:16 PDT
Fixings imply that May's year-over-year CPI rate release on Friday will surpass the 8.2% median forecast of economists.
Billionaire hedge fund founder Ray Dalio said central banks across the globe will be required to cut interest rates in 2024 after a period of stagflation constrains their economies, according to the Australian Financial Review.
Shocking Consumer Credit Numbers: Everyone Maxing Out Their Credit Card Ahead Of The RecessionJun 8, 2022 - 05:49:18 PDT
Forget CPI: the week's most important data point is today's monthly consumer credit update. Last month we saw a blowout, record surge in credit card usage as consumers tapped out.
Treasury Secretary Janet Yellen is raising the White House’s forecast for inflation and says she expects it to “remain high.”
The biggest reshuffle of oil trade flows since the Arab oil embargo of the 1970s is underway—and things may never return to normal. The Russian invasion of Ukraine and the sanctions on Russian oil exports are changing global oil trade routes. Over the past nearly five decades, oil flowed more or less freely from any supplier to any customer in the world, except for sanctions on Iran and Venezuela in recent years.