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Contagion: Another Big China Builder Tries to Save U.S. Deals as Evergrande SwoonsSep 22, 2021 - 07:33:49 PDT
As the financial world warily watches the fate of cash-strapped China Evergrande Group, another big Chinese property developer is facing a ticking clock too, tied to projects in Manhattan, Los Angeles and Hawaii.
Sep 22, 2021 - 07:29:12 PDT
Lawrence Yun is correct. There was a huge spike in existing home sales (EHS) following the Covid outbreak and the overreaction by The Federal Reserve (aka, when the ain’ts went marching in). Despite continuing stimulus, but EHS has simmered down.
Sep 22, 2021 - 07:21:56 PDT
Lebanon’s annual rate of inflation has risen to the highest of all countries tracked by Bloomberg, surpassing Zimbabwe and Venezuela, as the financial meltdown in the Middle East nation worsens.
Nouriel Roubini, CEO at Roubini Macro Associates, discusses the impact of global fiscal and central bank policy on inflation, economic growth, and inequality. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Gold prices were steady on Wednesday as investors braced for the outcome of a U.S. Federal Reserve meeting.
The silver-gold ratio has ballooned again, indicating that silver is once again a bargain buy.During a gold bull market, silver typically outperforms gold. We saw this during the big runup in the price of both metals through the early months of the pandemic. In the third quarter of last year, silver charted its best quarter since 2010, finishing up 27.62% through the three months ending Sept. 30. Going back further, silver spiked 106.6% off its March 2020 low.
Major cryptocurrencies were down on Wednesday morning as a flash crash in the price of bitcoin earlier this week wiped out over $200bn from the market.
Swiss National Bank policy makers watching the effects of negative interest rates on the economy are worrying about the real-estate bubble that their policy is helping to foster. Aware that any shift in their sub-zero stance could unsettle currency markets, officials are likely instead to highlight the availability of regulatory tools to cool the property market...
Two weeks ago, Fed Presidents Robert Kaplan and Eric Rosengren (and to a lesser, though still notable extent, Fed Chair Powell himself) were ‘outed’ for their multi-million-dollar stock and bond trades, sparking widespread outrage, bolstering claims that not only is the market rigged and manipulated by the Fed but that it is rigged directly for the benefit of Fed members...
Sep 22, 2021 - 05:24:13 PDT
Here is what to expect when the Federal Open Market Committee’s statement and the summary of economic projections are released Wednesday at 2 p.m. Eastern time, followed by Powell’s press conference at 2:30.
In yet another sign "transitory" inflation might not be so transitory, FedEx has announced plans to significantly hike shipping rates in 2022.FedEx said it will raise rates for US domestic, export and import services by 5.9%, on average next year. Some freight rates will rise as much as 7.9%. The company also plans to raise its Ground Economy rates along with fuel surcharges. The rate hikes will go into effect on Jan. 3.
The European Central Bank will discuss whether to raise its regular bond purchases when its pandemic-fighting scheme ends, ECB policymaker Madis Muller said in an interview published on Wednesday.
BOJ To Keep Stimulus As Deflation Risks, Supply Disruption Cloud OutlookSep 22, 2021 - 05:08:08 PDT
The Bank of Japan is expected to keep monetary policy steady on Wednesday as weak growth and deflation risks remain primary concerns, in contrast to major counterparts eyeing a withdrawal of crisis-mode support for their economies.
China Injects $18.6 Billion Into Banking System During Evergrande CrisisSep 22, 2021 - 05:06:33 PDT
China’s central bank boosted its gross injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets.
Democrats are pursuing an almost certainly doomed strategy to avert a government shutdown and stave off a federal default, raising the likelihood of financial-market stresses that will ultimately force U.S. lawmakers’ hands.
It's truly amazing the staggering amount of resources consumed in warships throughout the ages. While the 18th-century wooden warships were much smaller than the massive U.S. "Iowa-Class" battleships during the mid-1900s, they still consumed a large percentage of energy and resources for their time...
In the meantime, silver output jumped in the reporting period by 1.8 percent, increasing to 445.18 tons, against 437.3 tons last year.
Swiss exports of gold to India jumped to a five-month high in August while shipments to China fell, Swiss customs data showed on Tuesday.
The Commerce Department said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 0.5% to $190.3 billion last quarter. That was the largest shortfall since the second quarter of 2007.
The Fed Will Try To Soothe Markets Wednesday, While Preparing Investors for End To Bond BuyingSep 21, 2021 - 12:51:11 PDT
After Monday's market turbulence, the Fed's challenge will be to sound reassuring while acknowledging it is getting ready to move away from its easy policy.