Precious metals are apparently waking up. And here is where you can find the best deals.
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Federal Reserve Chair Jerome Powell says cryptocurrencies are really just "vehicles for speculation." He spoke to David Rubenstein Wednesday in a virtual event hosted by the Economic Club of Washington. (Source: Bloomberg)
Gold prices ticked higher on Tuesday after inflation data showed US consumer prices rose in March for the fourth straight month and inflation hit its highest level in 2.5 years.
The US Federal Reserve, whose dual mandate is to keep inflation in the “Goldilocks zone” of around 2% and to control unemployment, has been downplaying inflation...
EU to Consider Ban on Using A.I. For Mass Surveillance and Social Credit ScoresApr 15, 2021 - 09:05:58 PDT
Using AI software for mass surveillance and ranking social behavior could soon be outlawed in Europe, according to draft legislation shared online.
The guardians of the financial sector are poised to greatly intensify their efforts to regulate the booming cryptocurrency sector. That’s the view of the World Economic Forum’s blockchain expert, who said challenges include keeping up with the borderless nature of Bitcoin and other digital tokens, as well as ensuring that innovation isn’t stifled
Only time will tell whether the trades currently being made by short-term investors in the market for USTs are just a temporary position adjustment or whether they represent a genuine withdrawal from the reflation trade.
World stocks were on course to extend a five-day run of record highs on Thursday, while bitcoin took a breather after its latest surge and Russia’s markets tumbled at the prospect of the harshest U.S. sanctions in years.
Wall Street Execs Spent $2.9 Billion on Campaigns, Lobbying During 2020 ElectionApr 15, 2021 - 08:18:32 PDT
“Year in and year out, this torrent of money gives Wall Street an outsized role in how we are governed, while driving and protecting policies that help this industry’s super wealthy amass even greater fortunes at the expense of the rest of us,” Lisa Donner, executive director of Americans for Financial Reform, told CNBC in a statement.
World’s Largest Money Manager: ‘I Am Incredibly Bullish’ on the Stock Market Because of StimulusApr 15, 2021 - 08:07:24 PDT
“I believe because of monetary stimulus, fiscal stimulus, the cash on the sidelines, earnings, the markets are OK. Markets are going to continue to be stronger,” said the head of the world’s largest asset manager.
IRS Is Sending More ‘Plus-up’ Stimulus Payments to Taxpayers Who Already FiledApr 15, 2021 - 08:00:54 PDT
More than 700,000 Americans will receive a supplemental stimulus payment this week as the IRS continues to process 2020 tax returns.
After rising to the $1,750 area earlier in the day, the XAU/USD (Gold) pair went into a consolidation phase but gathered bullish momentum in the early American session. As of writing, gold was trading at its highest level since late February at $1,764, rising 1.6% on a daily basis.
The Dollar Index which ended the day on Tuesday at 91.93, and ended the day on Wednesday at 91.62… We’ve seen this drop in the Dollar Index before and every time it looks like it’s headed to the deep south, the Plunge Protection Team (PPT) steps in and buys dollars to protect it, and then we have to put up with a week or so of the Dollar Index heading higher, but has been the recent trend, it turns around and heads south again eventually…
The bullion asset recorded impressive gains at the fourth trading session of the week with global investors awaiting further signals on the U.S economy as the greenback traded near its three-week lows, further boosted gold bugs in breaking above $1745 an ounce.
Inflation could be volatile in the near term as the economy recovers from the pandemic but overall price increases should remain subdued and the Federal Reserve knows how to act if inflation gets too high, New York Fed President John Williams said on Wednesday.
There are no two ways about it, argues Jeremy Grantham: “The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble”.
Stimmy Checks Spark 'Spectacular' Retail Sales Spendfest In March... But What Happens Next?Apr 15, 2021 - 05:32:38 PDT
The big question now, of course, is what then - with far fewer direct stimmies on the horizon, is this as good as it gets for a long, long time?
The Biden administration is poised to impose a raft of new sanctions on Russia, including long-feared restrictions on buying new sovereign debt, in retaliation for alleged misconduct including the SolarWinds hack and efforts to disrupt the U.S. election.Russian bonds fell and the ruble dropped the most since December on the news...
Biden Seeks Closer Ties with Japan as the U.S. Prepares to Challenge ChinaApr 15, 2021 - 05:23:41 PDT
U.S. President Joe Biden will hold his first in-person summit with a foreign leader on Friday when Japanese Prime Minister Yoshihide Suga heads to Washington.
The Market Is ‘Completely Ignoring’ Serious Risks with U.S.-China Relations: Stephen Roach WarnsApr 15, 2021 - 05:19:45 PDT
As Wall Street focuses on earnings season, former Morgan Stanley Asia Chairman Stephen Roach sees danger lurking abroad.
Treasury Yields Drift Lower Ahead of Jobless Claims and Retail Sales DataApr 15, 2021 - 05:17:20 PDT
U.S. Treasury yields drifted lower on Thursday morning, ahead of the release of weekly jobless claims and monthly retail sales data.
The Economy Is Running On a Stimulus-Fueled Caffeine High. What Will Happen When It Wears Off?Apr 15, 2021 - 05:15:15 PDT
The path beyond this rocket-fueled year looks far less clear.