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BofA Says 'There Is No Clear Off-Ramp' for Russia and Issues Dire Prediction for Global EconomyMar 9, 2022 - 05:37:00 PST
Analysts lowered the GDP forecasts for the U.S. and Europe, and increased \ inflation expectations on Tuesday.
Gold pushed above $2,000 an ounce on Tuesday and made a run at the all-time record high. The yellow metal was up $54 on the day, closing at $2,052 despite some selling after it nudged the all-time high. Some of this is clearly safe-haven buying due to the situation in Russia, and a lot of analysts think gold will fall back to earth once that situation resolves. But Peter Schiff doesn't think so. In his podcast, he explains why gold would be going up even if Russia never invaded Ukraine.
One-year U.S. inflation expectations have rocketed higher since Russia's invasion of Ukraine and the longer-term outlook has begun increasing as well, a development likely to be watched closely by the Federal Reserve as it battles to keep price pressures under control. The index is based on trading in the...
Analysts Warn of Recession if Oil Prices Continue To Surge Further Into 'Uncharted Territory'Mar 9, 2022 - 05:30:41 PST
The U.S. ban on Russian oil could exacerbate already-spiking oil and food prices, analysts warned, and that could set off a recession if escalated further.
Curve flattening has raised the specter of an inversion -- a historic signal from the bond market that a recession is likely in 12 to 18 months. The last inversion occurred in 2019 after a series of Fed rate hikes.
Treasury Secretary Janet Yellen appeared to accidentally praise the new executive order... before it was released (then hastily deleted her statement).
Mar 9, 2022 - 05:09:37 PST
U.S. officials said the most likely short-term cyber impact would be spillover of any cyberattack by Russia against Ukraine.
Russia’s invasion of Ukraine means the food inflation that’s been plaguing global consumers is now tipping into a full-blown crisis, potentially outstripping even the pandemic’s blow and pushing millions more into hunger.
China Watches Warily As Ukraine Makes U.S., EU and Japan Strengthen Their AllianceMar 9, 2022 - 05:06:39 PST
For China, the speed with which the U.S. and its allies sanctioned Russia is a warning sign that could guide economic and foreign policy.
Please consider China Will Bail Out Russia by Eurointelligence founder Wolfgang Münchau.
Americans Reconsider Driving, Spending Habits and Their Employment Amid Record Gas PricesMar 9, 2022 - 04:57:21 PST
Dan Eberhart, the CEO of Canary, one of the largest independently held oilfield service companies in the U.S., argues that instead of unleashing American energy, Biden has been trying to reduce production at home even as prices have increased.
U.S. shale producers are unlikely to replace banned Russian oil imports due to a shortage of oilfield materials, equipment and labor and a dwindling backlog of wells waiting to be completed, energy executives and analysts said on Tuesday.
Saudis, UAE Refuse To Take Biden's Calls To Discuss Ukraine Situation, Talk To Putin InsteadMar 9, 2022 - 04:55:10 PST
First, Brazilian President Jair Bolsonaro declined to condemn the Russian invasion of Ukraine. Then, India followed suit - as the Modi government attempted to balance its historic ties with Moscow and its strategic partnership with Washington.
Gold on Tuesday extended its blistering rally toward an all-time high as investors made a beeline for the traditional safe haven on mounting fears about the Ukraine crisis and the impact of a possible ban on Russian oil by the United States and Britain.
Silver markets have gone parabolic during the trading session on Tuesday as we have broken above the $27 level rather rapidly.
As gasoline prices increase and inflation reaches the highest levels in four decades, times are becoming much harder for the average consumer, experiencing a persistent rise in the prices of many goods and services.
Which is why I keep referencing and updating it.
Hundreds of Ships Trapped by Ukraine War, Endangering Sailors and Global Supply ChainMar 8, 2022 - 12:29:27 PST
Port closings and missile strikes on vessels have had ripple effects on trade, including on grain markets. On one Bangladeshi ship, the consequences were dire.
U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices.
President Putin’s decree didn’t specify which commodities and countries would be subjected to the export ban.