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Producer Prices Rose 0.6% In April from the Previous Month, Hotter-Than-ExpectedMay 13, 2021 - 05:34:44 PDT
Economists polled by FactSet are expecting a 0.3% increase in April for the PPI over the previous month.
After consumer prices exploded higher yesterday - and were immediately rejected by establishment types as 'transitory', despite the market's obvious disagreement - all eyes were on this morning's producer prices for signs of more pressure. Many were fearful of a repeat of last month's debacle delay (and there were rumors of a softer PPI print leaked earlier today)
A bigger-than-expected increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.
Some observers say the latest inflation figures show the Fed is already at risk of falling behind. So-called core prices, which exclude volatile components such as food and energy, rose 0.9% in April from March, the fastest one-month gain since 1981, the Labor Department said Wednesday.
China's Aging Population Will Be a 'Big Shock' to the Global Supply Chain, Says EconomistMay 13, 2021 - 05:19:16 PDT
China's once-a-decade census released on Tuesday showed its mainland population grew to 1.41 billion people as of Nov. 1, 2020, the slowest growth rate since the 1950s.
European stocks retreated on Thursday as markets around the world were spooked by the latest U.S. inflation data.
Home Prices Soar Most On Record As Fed Continues Bubble Blowing Policies May 13, 2021 - 05:15:55 PDT
The Federal Reserve continued to increase its holdings of mortgage-backed securities by the tune of $40 billion per month, fueling a housing bubble with record-low mortgage rates and low inventory.
Treasury Yields Retreat but the 10-Year Holds above 1.68%, Following Inflation Data ShockMay 13, 2021 - 05:14:56 PDT
U.S. Treasury yields retreated on Thursday morning, though the 10-year rate held above 1.68%, following a higher-than-expected inflation print.
The consumer price index (CPI) came in much hotter than expected. The consensus was for a 0.2% month-to-month increase in price inflation. The actual number was 0.8%. It was the biggest monthly gain in CPI since 1981. Annualized, CPI measured 4.2% - more than double the mythical Federal Reserve target of 2%.Federal Reserve Vice Chairman Richard Clarida said, "We were surprised by higher than expected inflation data."In his podcast, Peter Schiff said the only reason investors and economists were surprised is because they're clueless.
Throughout history, people have revered gold as a sign of wealth and a store of value. Today, gold is not only a precious metal but also a precious investment.
Gold markets fell during the trading session on Wednesday as the downtrend line continues to hold very resiliently. The $1850 level above there is also an area of interest.
China’s “digital yuan” represents the natural evolution of fiat currencies. When in 1971 the U.S. government finally unpegged the dollar from the price of gold it severed the connection between “paper money” and real, hard assets. The dollar, like most other government issued currency, became worth whatever the market was willing to pay for it.
Last year, global gold production fell by 5%, while Russian companies including polymetallic miners continued expanding their operations and ramping gold output up. At this rate, Moscow is likely to outperform Beijing as the world’s top gold producer by the end of the 2020s.
Chinese corporations are defaulting on local bonds at the fastest pace on record, as authorities ramp up efforts to introduce more financial discipline and transparency in the world’s second-largest debt market...
As a result, seven months into the fiscal year, the YTD deficit stood at a record $1.932 trillion compared to $1.481 trillion, although whether 2021 overtakes 2020 depends on if and when Biden will pass his next (of many) stimulus programs.
And it could also raise its short-term rate from its current level near zero. This rate influences borrowing rates throughout the economy. Such moves would likely rein in inflation. But they could also slow the economy or even cause a recession.
From gas and groceries to computers, cars and clothing, Americans are already paying more for everyday expenses.
Federal Reserve Vice Chairman Richard Clarita acknowledged that he was surprised by April’s jump in consumer prices but argued that the rise in inflation was likely to be prove largely transitory. “Readings on inflation on a year-over-year basis have recently increased and are likely to rise somewhat further before moderating later this year,” he told a meeting...
Household Debt Climbs to $14.64 Trillion, Due to Jump in Mortgages and Car LoansMay 12, 2021 - 10:37:39 PDT
Total household debt balances rose by $85 billion in the first quarter, a 0.6% increase that brought the total level to $14.64 trillion.
Interactive Brokers Chair Is Worried Inflation in U.S. Could Become an ‘Unstoppable Situation'May 12, 2021 - 10:28:58 PDT
“I’m very worried this is an unstoppable situation because the longer the Fed waits, the more they will have to raise the rates,” Peterffy added, which he said could in turn make servicing U.S. government debt more challenging. “So, we basically are painting ourselves into a box, and I don’t see how we’re going to get out of it.”