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Global inflation has become a key theme in the market as price pressures pick up. Bank of Japan Governor Haruhiko Kuroda discusses the central bank's outlook on inflation and policy in an exclusive interview.
"Backdoor QE" Is Working As Expected, But It's About To Be Replaced With "Stealth QT"May 28, 2021 - 11:59:23 PDT
As DB's Francis Yared writes in his "chart of the day", while the US Treasury has disbursed significant amounts of its latest stimulus in March, a move which would be typically associated with higher real rates, US real rates have instead rallied ~20bp since early March in a move usually associated with additional Fed QE.
Costco Is Seeing Inflation Abound, Impacting a Slew of Consumer ProductsMay 28, 2021 - 11:27:39 PDT
The big-box club chain said it's been seeing accelerating prices across a range of products.
'Much Less Than Meets The Eye' - Biden Officially Unveils Budget With Retroactive Capital Gains Tax HikeMay 28, 2021 - 10:54:12 PDT
On the tax front, the biggest surprise in Biden’s proposal is that he assumes an increase in the capital gains rate would be retroactive to April 2021. This would prevent wealthy people from quickly selling off their assets before the end of the year to avoid the hike.
Interest in silver is soaring (both for industrial use and financial investment), echoing 2013's crisis, as a recent report from the Silver Institute, silver demand for printed and flexible electronics is forecast to increase 54% over the next 10 years.
Escalating budget madness never stops. Each recession is worse than the one that preceded it.
Biden will unveil his proposed budget on Friday. Sources say it will include retroactive tax hikes.
"Understanding government data for what they are and what they are not is vital to understanding the impossibility of targeting the cost of living, even though the Fed is targeting a crafted measure of price inflation." ~ Gregory van Kipnis
Safe-haven assets such as cash and gold funds drew investors during the week to Wednesday, BofA's fund flow statistics showed on Friday, a sign of growing concern over inflation and the potential roll back of central bank stimulus.
History repeats itself. But do decades duplicate? As hopes rise that the pandemic is ebbing in the United States and Europe, visions of a second “Roaring Twenties” to match last century’s post-pandemic decade have proliferated.
As a dad, I have to confess to delivering my fair share of dad jokes. You know what I mean, right? I'm talking about those jokes that make the kids' eyes roll into the back of their heads and elicit groans from the wife.Let's be honest; dad isn't funny. And that's what makes dad jokes so funny.So to kick off your weekend, I bring you some dad jokes related to gold I plucked off the interwebs.
Powell's Fed Will Move Instinctively to Combat Inflation, Like GreenspanMay 28, 2021 - 07:22:23 PDT
Former Chair Alan Greenspan led the Fed slowly and instinctively, with sparse details. A break from the furious pace and hyper-transparency of the past year looks mighty appealing.
The inflation outlook, higher oil prices and a stronger Chinese yuan all point in the same direction.
UMich Sentiment Slides As Record Number Of Americans Fear Soaring PricesMay 28, 2021 - 07:15:05 PDT
The disappointing plunge in 'hope' from The Conference Board's survey of consumer sentiment was echoed in the UMich sentiment survey as the headline slipped from 88.3 to 82.9 (and slightly below the preliminary data). Both current and expectations indices also tumbled, and all are still well below pre-pandemic levels...
China has dialed up its rhetoric about surging commodity prices and a strong currency with almost daily commentary by officials and in state media in the past two weeks, a sign authorities are becoming more uncomfortable with recent gains.
China’s efforts to rein in surging commodities prices are likely to be in vain as it’s lost the ability to boss the market around, according to Goldman Sachs Group Inc. The speed of the rebound in advanced economies, particularly the U.S., means China is no longer the buyer...
Global Money Market Funds See Massive Inflows in the Week to May 26-LipperMay 28, 2021 - 06:58:41 PDT
Global money market funds saw huge inflows in the week ended May 26, Refinitiv data showed, amid caution that quickening inflation could alter the direction of U.S. monetary policy and shake up asset markets.
Publicly traded companies are selling bonds that can convert into stock at a record pace this year, as they seek to take advantage of low rates and investors’ ravenous appetite for fast-growing firms.
Fed's "Favorite" Inflation Indicator Explodes At Fastest Rate Since 1992 As Incomes Crash By RecordMay 28, 2021 - 06:51:55 PDT
While Americans' income and spending is normally the headline-making data, this morning's release will focus all eyes on The Fed's favorite inflation indicator - the PCE Deflator.
The Fed wants us to believe everything is under control. The economy is improving. Inflation is transitory. Good times are ahead. But behind the scenes, central bankers and government officials are scrambling to keep all the economic props in place. As they intervene in one area of the economy, they create problems in another. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about some of these interventions along with gold's recent rally above $1,900.