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Jim Millstein, the co-chairman of Guggenheim Securities, said financial markets are headed into a period of “significant volatility” with default rates expected to spike as we move closer to the end of the year.
UBS Group AG plans to increase charges for international wealth management clients located abroad and holding deposits in Switzerland, broadening its efforts to reduce costly cash holdings as negative interest rates persist. Starting next year, the bank will charge wealth clients who don't...
The darkening outlook of banks is laid bare by disclosures on so-called criticised loans, which are flashing warning signals about a borrower’s ability to pay.
Rather than decry austerity, which demands an open political discussion of trade-offs, we should decry inflation's stealthy reduction of purchasing power.
Gold on Track to Tally Back to Back Gains as Euro Strength Weakens U.S. DollarSep 9, 2020 - 10:05:50 PDT
Gold futures shake off early losses Wednesday to move higher for a second session in a row, finding support as the strength in the euro pressured the dollar,...
Sep 9, 2020 - 09:31:40 PDT
"If it’s serious about a 2% inflation target, the Fed will have to do better than a pep rally. We were promised meaningful change; what we got was the same old song and dance." ~ Phillip W. Magness & Alexander W. Salter
Wall Street’s summer-long party fueled by investors’ appetite for some of the world’s best-known technology companies has come to an abrupt, if not entirely unexpected, halt. The sharp...
The dollar slid from a four-week high on Wednesday, led by losses against the euro after a news report said European Central Bank officials have become more confident in their outlook for the region's recovery.
While declining unemployment rates may be good news for the U.S. economy as a whole, it could force gold prices lower in the long-term
The IMF has provided emergency funding to 75 countries, including 47 low-income countries, and said it was ready to provide further support to a wider range of middle-income countries.
When, for example, computers issue scores that decide how much people pay for mortgage loans or insurance policies, or who gets a job, the victims of mistakes typically don’t know what’s going on.
Sep 9, 2020 - 07:59:41 PDT
According to the OCC data, JPMorgan Chase holds 67 percent of all equity derivatives held by all commercial banks, savings associations and trust companies in the United States. (See the second Table 10 toward the end of the OCC report here.) If that’s not a whale, we don’t know what is.
Long-term look at wage growth shows that while low-wage industries’ bounce has been strongest, they still have considerable way to go to get back to pre-pandemic levels.
Millennials to Redistribute Wealth From Older Generations to the Young in New ‘Age of Disorder’Sep 9, 2020 - 07:35:32 PDT
It probably won’t take a great deal of persuasion to convince investors that there’s an “age of disorder.”
The federal budget deficit hit an unprecedented $3 trillion in August, with another month to go before the end of the fiscal year, according to estimates from the Congressional Budget Office (CBO).
JOLTed: US Hiring Unexpectedly Plunges By Most On Record Despite Surge In Job OpeningsSep 9, 2020 - 07:30:10 PDT
An odd bifurcation has opened up in the US labor market.
Druckenmiller Is Worried About Inflation, Says It Could Hit as High as 10% in Coming YearsSep 9, 2020 - 07:21:09 PDT
The Duquesne Family Office CEO said on "Squawk Box" inflation as high as 10% and deflation of 4% were both on the table in the coming years.
Druckenmiller Is Worried About Inflation, Says It Could Hit as High as 10% in Coming YearsSep 9, 2020 - 07:21:09 PDT
The Duquesne Family Office CEO said on "Squawk Box" inflation as high as 10% and deflation of 4% were both on the table in the coming years.
HUGE Outside Reversal In Gold & Silver TOTALLY UPSETTING Our Beleaguered Banker Crooks!September 9, 2020
The bankers are looking into an abyss!
Central banks bought over 27 tons of gold in July, but big sales by two banks dropped net global purchases to 8.8 tons, according to the latest data by the World Gold Council.