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Fed Releases POMO Schedule For Next Two Weeks; Will Buy $9BN In Treasuries And MBS Each DayJul 13, 2020 - 12:24:02 PDT
In line with the recent Fed disclosure that the central bank will purchase about $80 billion in Treasurys monthly, the latest schedule shows an average daily purchase of about $4.5 billion, or $46BN spread over 10 days.
The coronavirus pandemic could cause a decline in urban housing prices if employees continue to work from home and forgo city living, according to Nobel Prize-winning economist Robert Shiller.
"Consensus forecasts S&P 500 EPS will decline by 44% year/year in 2Q, but we believe earnings will fall by 60% in the quarter... Management commentary will prove more valuable than backward-looking results."
Coronavirus Bringing Record $1 Trillion of New Global Corporate Debt in 2020Jul 13, 2020 - 11:28:14 PDT
Companies around the world will take on as much as $1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated.
"Control Of Money Supply Has Permanently Left The Hands Of Central BankersJul 13, 2020 - 11:25:31 PDT
"The supply of money will now be set, for the foreseeable future, by democratically elected politicians seeking re-election."
It can hard to budget when you don't know what money will be coming in or going out. Here's an update on where your bill obligations and federal relief measures stand amid the pandemic.
Jul 13, 2020 - 11:15:11 PDT
Huge spending increase and sharp falloff in revenue led to the large gap. The deficit in past nine months has breached $2.7 trillion.
‘We have ourselves to blame for wrecking domestic manufacturing and becoming consumption addicts.’
The "Too Big To Fail" Banks Are Getting Ready For Their Worst Quarter Since The Financial CrisisJul 13, 2020 - 10:30:14 PDT
... loan loss provisions, combined with slower economic activity, could weigh heavily on their bottom lines...
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.
The U.S. Treasury has more than just the Federal Reserve in its corner as it battles to contain the cost of financing the nation’s record budget deficit.American money-market funds -- a harbor for the assets of retirees and companies -- have bought the brunt of the roughly $2.2 trillion...
Homebuilders Just Saw the Strongest June Sales as Pandemic Pushes More Buyers to the SuburbsJul 13, 2020 - 10:06:32 PDT
A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs, made for remarkable housing demand in June.
A program offering up to $10,000 in grants to struggling small businesses ended Saturday after reaching its funding limit.
The "Biblical" Default Wave Arrives: Here Is The Avalanche Of Bankruptcies Unleashed By CoronavirusJul 13, 2020 - 09:55:03 PDT
And it's only just starting...
Silver prices climbed to their highest level in 10 months, lifted by factory re-openings and soaring investor demand for precious metals.
A "perfect storm" of surging government debt levels, plunging real bond yields, rising coronavirus cases and deteriorating economic forecasts pushed the price of gold to an eight-year high this week, and some analysts now project the metal to top its all-time high within the next 12 months.
Even senior Fed officers — who’re usually reluctant to weigh in on selections for Congress and the White House — have expressed considerations about waning fiscal stimulus.
According to the IMF, global fiscal support in response to the crisis will be more than 9 trillion US dollars, approximately 12% of world GDP.
Trust is a fickle thing. It’s there until it isn’t. This is especially true with paper currencies. Their value is based on trust that the sovereign issuer will act faithfully and responsibly.
The Federal Reserve's $3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across U.S. capital markets.