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Homebuyer Mortgage Demand Spikes to 11 Year High, as Rates Hit Another Record LowJun 17, 2020 - 05:06:44 PDT
Buyers are rushing back into the housing market, enticed by record low mortgage rates and a coronavirus-induced need to nest like never before.
The coronavirus has infected more than 8.19 million people around the world as of Wednesday, killing at least 444,111 people.
So why was the US government so intent back in February and March on convincing us that "masks don't work" and urging us not to wear them?
Given that inflation has recently declined, the Fed's dovish bias is almost certain. And what is important here is that Powell expects a...
Gold Prices Settle Higher as Fed Chair Powell Says Uncertainty Surrounds Economic RecoveryJun 16, 2020 - 12:52:04 PDT
Gold futures settled higher Tuesday, finding support after Federal Reserve Chairman Jerome Powell said that despite some upbeat U.S. economic data, uncertainty continues to surround the timing of a recovery.
Japan had one of the strongest economies in the entire world, growing at a 9% rate for 20 years up to 1973, and then a pretty strong rate of about 4.5% through 1994. From there, it';s averaged about 1%. …
It’s not immediately clear why this is necessary, nor how this will impact markets any differently than the facility’s current purchases of exchange-traded funds. So far, the secondary-market vehicle has bought about $5.5 billion of ETFs. ...
U.S. stocks are sharply higher Tuesday in volatile trading in the wake of testimony to Congress by Federal Reserve Chairman Jerome Powell who suggested more fiscal stimulus may be needed before the American economy can make a full recovery from the COVID-19 pandemic.
He Predicted That 2020 Would Be a Complete Mess, Now He Says Things Could Get Even WorseJun 16, 2020 - 12:13:22 PDT
As the divide between the rich and the poor has only widened during the coronavirus pandemic, Turchin said he believes tensions “may escalate all the way to a civil war.”
Scott Minerd: Markets May Crash So Badly the Fed Has to Start Buying StocksJun 16, 2020 - 12:01:55 PDT
"There's a point where the Federal Reserve is going to have to pull out a bazooka," Minerd said in an interview. "And I think the option of buying stocks on the part of the Fed is on the table."
The Fed has backed itself not into a corner but to the edge of a precipice.
The opposite is happening. Debt is exploding and by next year US debt to GDP will be perhaps as 135%-140% and corporate debt north of 50% debt to GDP:
Foreign holders, US banks, and US government funds all dumped. But two big players gorged on it – and one of them was the Fed.
Gold edged up in seesaw trade on Tuesday as concerns over a fresh coronavirus outbreak in China countered pressure from a surge in Wall Street driven by a record rise in U.S. retail sales and optimism over a COVID-19 drug.
Powell: Fed Will Likely Freeze Balance Sheet Post Pandemic, Let It Shrink Relative To GDPJun 16, 2020 - 09:43:16 PDT
The Federal Reserve is proposing an extension of its emergency loan program to include U.S. nonprofits like universities and charitable organizations.
Foreign investors continued selling U.S. Treasury bonds and notes in the month of April, according to Treasury department data as of Monday, but at a slower rate than in the record-setting pace of March.
Not only is the facility a legally questionable moral hazard, it is also nothing but an asset prices support system that keeps zombie corporations alive.
As Eviction Bans across the Country Start to Lift, the Us Could Face an Eviction 'Apocalypse'Jun 16, 2020 - 09:03:12 PDT
Landlords evicting struggling and unemployed renters could lead to ripple effects like a surge in homelessness and COVID-19 infections.
Nearly three-quarters of Americans report their finances have not improved since President Trump has been in the White House, according to a new survey from Bankrate.