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Recessionary risks arising from the ongoing labor shortage and rising prices exist independently of the Fed’s monetary strategy, Jordan Jackson, global market strategist at JPMorgan Asset Management told Yahoo Finance Live in an interview Thursday morning.
Official data also showed that China's foreign exchange reserves fell to 3.188 trillion U.S. dollars at the end of March, down 25.8 billion U.S. dollars, or 0.8 percent, from the end of February.
Things looked dire enough that U.S. President Joe Biden said the ruble had been reduced to “rubble.”
Apr 7, 2022 - 10:43:44 PDT
Russia's central bank said on Thursday that due to a "significant change in market conditions" it would buy gold from commercial banks at a negotiated price from April 8.
The Treasury added $111B in debt during March. Total Bills outstanding (short-term debt) actually shrunk by $126B. This is the biggest reduction since September of last year. As highlighted previously, the Treasury was actively reducing short-term debt for most of 2021. In 2020, Covid expenses were paid for by borrowing at the short end of the curve, dramatically reducing the average maturity of the debt and greatly increasing the risk of rising rates.
The old economic order, in which the dollar's centrality to global trade remains king, is beginning to fade. The latest example of the dollar's demise comes as China purchases coal and oil from Russia in yuan due to Western sanctions isolating Russian banks from the SWIFT payment system.
Will gold’s price ever be measured in five digits? Watch today’s video update with Mike Maloney to understand why he thinks that it is not only inevitable, but coming sooner than you may think.
The Black Sea - whose waters are shared by Bulgaria, Romania, Georgia and Turkey, as well as the warring Ukraine and Russia - is key for shipping grain, oil and oil products. Ukraine and Russia have accused each other of laying mines in the Black Sea, and in recent days, Turkish and Romanian military diving teams have defused stray mines around their waters.
“I think this is potentially worse” than the 1970s, Yergin said during a Bloomberg TV interview. “It involves oil, natural gas and coal, and it involves two countries that happen to be nuclear superpowers.”
Apr 7, 2022 - 08:37:54 PDT
A massive knock to the Caixin China Services Purchasing Managers Index in March shows that the latest virus outbreak is taking a toll on growth. But it’s the Federal Reserve’s incipient rate hike campaign that will have the most impact on supply-chain problems and inflation, and thus on global markets.
Here's the deal in a nutshell: The Fed actively promotes inflation while pretending to be inflation fighters. Yet, people listen to these clueless jackasses as if they know what they are doing.
And while the market knows better than to listen to Bullard - or anyone else from the Fed - it had no choice, and the latest round of hawkish commentary pushed S&P futures near session lows and back to red for the day.
Mortgage Refinance Applications Are Collapsing. What’s the Impact on the Economy & Markets?Apr 7, 2022 - 08:15:48 PDT
Consumer spending and asset prices both were boosted by them.
Inflation has been skyrocketing and the government/media can no longer ignore it.
John Williams, at Shadowstats.com calculates inflation using the same method used in the 1980’s. Today it’s well over 15%. A Dallas Fed survey expects it to go higher.
Get back to work Mr.Powell (oh and while we are at it, Mr.Schumer, why do we need to extend the moratorium on student loan repayment if everything is this awesome?)
Apr 7, 2022 - 06:21:22 PDT
Chaos ensued the last time the Fed attempted to reduce its balance sheet. In 2019, short-term funding rates spiked, suggesting the central bank had withdrawn too much from the market. However, the Fed hopes it can avoid a rerun of that specific liquidity problem after it established a permanent facility last year that allows eligible investors to swap Treasuries for cash.
Treasury Secretary Janet Yellen will on Thursday outline a set of broad principles that she believes should guide the creation of a new framework for regulating digital assets, seeking to encourage innovation while protecting consumers, investors and financial stability.
The dollar’s bullish run since the end of May could finally have reached an exhaustion point.
Earlier this week, Federal Reserve governor and vice-chair nominee Lael Brainard indicated the central bank will shrink its balance sheet at a “considerably” more rapid pace than it did during the previous cycle. I, Peter Schiff and a few others outside the mainstream have said the Fed won't be able to do this.Why not?
China signaled it will step up monetary stimulus for the economy, acknowledging that domestic and global risks are now bigger than previously expected.