Precious metals are apparently waking up. And here is where you can find the best deals.
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Growth stocks are stretching their lead again, surpassing even the peak of the 2000 dotcom bubble.
The major risk and caveat is that if these unemployment numbers escalate into permanent job losses rather than temporary, eventually that could really have a drag on demand...
The operation was part of a crackdown on a criminal gang counterfeiting cash previously thought to be almost impossible to accurately reproduce. Replicas of Romania’s one-hundred-lei bill were so good they earned the nickname Super Leu.
Obviously the Fed has injected monetary cocaine into the stock market to make it appear as if stocks are “discounting a “V” economic recovery. But a “V” on Main Street is nowhere to be found (graphic is from Crescat Capital -the comment bubble is my edit):
At least four major factors are terrifying economists and weighing on the recovery: the household fiscal cliff, the great business die-off, the state and local budget shortfall, and the lingering health crisis.
The global pandemic is hitting emerging markets harder than advanced nations because they have less ability to absorb shocks that in some cases are even greater, World Bank chief economist Carmen Reinhart said. Lower-income nations don’t have the fiscal space that exists in rich countries...
Companies shoring up cash to survive the global pandemic raised funds in the U.S. high-yield market at the fastest monthly pace ever....
Jun 24, 2020 - 10:22:38 PDT
Evidence suggests the Fed will be guided solely by US domestic considerations as it charts a course for economic recovery, and if that upsets other countries, so be it. If sustained ultra-accommodative monetary policy results in a falling US dollar, that’s a price the central bank is willing to tolerate.
BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve.
The Fed Said It Could Supply the Economy With $2.3 Trillion. It Hasn’t Come Close So FarJun 24, 2020 - 09:28:36 PDT
In the three months since a slew of programs were announced, the Fed has loaned out just $143 billion, or a mere 6.2% of its total firepower.
Dow Plunges More Than 800 Points as Florida Sees Record Jump in Coronavirus CasesJun 24, 2020 - 09:08:49 PDT
Stocks fell on Wednesday as traders grew worried about the increasing number of newly confirmed coronavirus cases.
Mnuchin Says U.S./China Decoupling Will Occur if Firms Cannot Compete FairlyJun 24, 2020 - 08:43:20 PDT
U.S. Treasury Secretary Steven Mnuchin said on Tuesday that a decoupling of the U.S. and Chinese economies will result if U.S. companies are not allowed to compete on a fair and level basis in China's economy.
Americans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus pandemic abandon offices and storefronts and potentially end...
China’s Banking System Begins to Crack as Two Bank Runs Take Place Within a WeekJun 24, 2020 - 08:29:29 PDT
China's US$40 trillion banking system is seeing growing signs of trouble at its grass roots with bank runs happening at two small local lenders last week, a sign that a mountain of debt and an unprecedented economic contraction has started to take a toll.
World Economic Outlook says UK economy is on course to shrink by 10.2% in 2020.
IMF Slashes Its Forecasts for the Global Economy and Warns of Soaring Debt LevelsJun 24, 2020 - 08:14:05 PDT
Global public debt projected to reach more than 100% of GDP this year. The IMF slashed its economic forecasts once again and warned that public finances will deteriorate significantly.
But traders are showing signs Wednesday that they're getting uncomfortable. What's happening: The price of gold, the essential safe haven asset, has climbed above $1,776 per ounce, its highest level in nearly eight years.
Peter Schiff has called it a "monetary Hail Mary," but virtually nobody in the mainstream questions the wisdom of the Federal Reserve unprecedented response to the economic impacts of the coronavirus pandemic.And it truly is unprecedented. It's not just zero percent interest rates and QE infinity. The Fed is buying everything but the kitchen sink. It's now even become a player in the corporate bond market.
What’s driving gold is the fall in inflation-adjusted bond yields — and that should continue as long as the stock market rally holds up, says one researcher.
Years of monetary policy which has consistently driven yields lower, along with economic growth, have now left investors nowhere to hide from risk.