Precious metals are apparently waking up. And here is where you can find the best deals.
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This note will address the underlying economics. They are a mess. To be blunt, the FS paper is built on a pastiche of obfuscations, entirely unnecessary to support the conclusion.
Dec 8, 2020 - 09:14:35 PST
If the economy continues to strengthen, the Federal Reserve could reduce the size of its asset-purchasing program. In short, that would lift interest rates and pose a risk to stocks.
Margin debt has been fueling the market as the recent mania has driven markets to record highs. However, therein also lies the risk of the next correction.
Dec 8, 2020 - 08:51:12 PST
With little help seeming to be on the way, more people are applying for credit and taking on debt. One in three respondents have opened a new credit card during COVID. A quarter of the poll add they’ve built up over $10,000 in debt while covering their expenses.
The economic upheaval of the pandemic starting in March caused many U.S. employers to institute temporary pay cuts in the spring. In the months since, about half of respondents said their pay has been restored.
Consumers Finally Getting Smart? Credit Card Balances in Steepest Drop EverDec 8, 2020 - 07:37:06 PST
Stimulus and huge shifts in spending, wiping out entire industries and fattening up others.
The Covid-19 pandemic was supposed to put the final nail in the coffin of globalization and prompt a retreat into a new era of protectionism. Instead, some are now calling the crisis the Great Accelerator.
Borrowers Looking to Use Fed’s Main Street Lending Program Run into Dead EndDec 8, 2020 - 07:19:53 PST
Steven Mnuchin's decision not to extend funding for the Federal Reserve's Main Street Lending Facility after Dec. 31 already looks to be cutting into lending.
Almost a week after Democratic congressional leaders climbed down from their demand for a multi-trillion dollar stimulus package, Senate Majority Leader Mitch McConnell continued to tout his own plan, dimming prospects for a proposed bipartisan compromise as the basis for a deal.
Saxo Bank has today released its 10 Outrageous Predictions for 2021. The predictions focus on a series of unlikely but under appreciated events which, if they were to occur, could send shockwaves across financial markets:..
Universal Basic Income Could Decimate Cities Next Year, One Bank Says in Its ‘Outlandish Forecasts’Dec 8, 2020 - 06:37:58 PST
"UBI leads to a seismic rebalancing of the forces and structures within society, and how they apply geographically," Kay Van-Petersen, global macro strategist at Saxo Bank, said in the report.
Demand for silver jewelry is expected to rebound sharply in 2021, according to a report released by the Silver Institute.The COVID-19 pandemic crushed silver jewelry demand this year. The economic slowdown, coupled with record silver prices in India and higher US dollar prices, is expected to drive a 23% decline in silver jewelry demand in 2020. But the Silver Institute report anticipates a bounceback in 2021, with a projected 13% recovery even with the expectation of higher silver prices.
When unemployment began to quickly shrink over the summer as governments loosened up on the economic lockdowns in response to COVID-19, everybody got giddy and assumed we were in for a quick recovery. But we've been saying that the quick turnaround was an illusion and that the lockdowns caused deep wounds in the labor market. The numbers are starting to hint at this reality.
Gold steadied near a two-week high on Tuesday on a subdued dollar and investor hopes for additional fiscal stimulus to help the economy as coronavirus cases continued to mount.
BIS Issues A Dire Warning: "We Are Moving From The Liquidity To The Solvency Phase Of The Crisis"Dec 8, 2020 - 05:13:02 PST
"We should be expecting more bankruptcies going forward yet credit spreads are quite low by historical standards, and indeed while banks are pricing risk more carefully we don’t see the same in capital markets."
As of today, 17% of Restaurants More than 110,000 Establishments Are Closed Permanently or Long TermDec 8, 2020 - 05:09:53 PST
The tide of restaurants closures and bankruptcies continues to rise—sweeping away jobs in some of the most venerated independent and chain restaurants:
Japan Unveils $708 Billion in Fresh Stimulus with Eye on Post COVID GrowthDec 8, 2020 - 05:04:03 PST
Japan announced a fresh $708 billion economic stimulus package on Tuesday to speed up the recovery from the country's deep coronavirus-driven slump, while targeting investment in new growth areas such as green and digital innovation.
Expect more people to be talking about deflation in the months ahead.
China is bucking the global trend of greater economic stimulus amid the coronavirus, preferring instead to refocus on controlling its record debt burden.
Bloomberg reports that China could post its first year-on-year decline in consumer prices in over a decade, but that trend is likely to be short-lived and have limited impact on monetary policy.