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Venezuela has reached a deal with the U.N. Development Programme (UNDP) to destine part of its gold in Bank of England accounts toward the purchase of food and medicine during the coronavirus pandemic, its central bank governor said on Wednesday.
While the IMF’s most recent meddling gives yet another reason to put an end to it.
Nobel laureate Robert Shiller, Yale University professor of economics, discusses the divergence between the U.S. stock market and the underlying economy and comments on recent trends in the housing market.
Fed’s Challenge for the Economy: Workers Who Don’t Want to Come Back to JobsMay 28, 2020 - 04:43:52 PDT
Mass unemployment that has accompanied the coronavirus pandemic has been compounded by people who don’t want to come back to work, the Federal Reserve said Wednesday in its periodic summary of the national economy.
‘We Cannot Delay’ on Approving More Coronavirus Stimulus, EU’s DombrovskisMay 28, 2020 - 04:40:04 PDT
The European Union needs to agree on additional coronavirus-related stimulus "in the coming months," a top EU official told CNBC Thursday.
The coronavirus has infected more than 5,710,393 people around the world as of Thursday, killing at least 356,042 people.
The UN Had To Step In To Allow Venezuela To Sell Gold Held (Supposedly) In Bank of England VaultsMay 28, 2020
The UN will receive the funds directly, to be used for the purchase of food and medicine. The Bank of England declined to comment...
1929 Vs Now: Are We Headed For The Greatest Depression? with Mike MaloneyMay 27, 2020 - 13:11:08 PDT
“What’s coming will be the weirdest, most twisted thing you’ve ever seen, something that will be very hard to predict—so the more educated you are on history the better chance you’ll have at surviving it.”This sobering quote from Mike Maloney highlights why he devotes his new video to the Great Depression… because it can offer valuable insights into what could be ahead for us today.
The GDX invalidated its break-out above its 2016 high in February, and do you know what happened then? The MARKET CARNAGE happened!
That leads me to believe… the risk for reward for equities is maybe as bad as I’ve seen it in my career here.
Grantham Called the Last Two Crashes Starts to Short Global Stock MarketsMay 27, 2020 - 12:40:25 PDT
GMO, co-founded by Jeremy Grantham, says shares should be much cheaper given the ongoing 'extreme uncertainty' and calls out market euphoria
It’s possible that there won’t be much of a cost of living adjustment—if any—for 2021.
he United States, already wrestling with an economic collapse not seen in a generation, is facing a wave of evictions as government relief payments and legal protections run out for millions of out-of-work Americans who have little financial cushion and few choices when looking for new housing.
Fed's Beige Book Is Blue With Alarm At Economic Devastation Across The USMay 27, 2020 - 11:38:22 PDT
Although many contacts expressed hope that overall activity would pick-up as businesses reopened, the outlook remained highly uncertain and most contacts were pessimistic about the potential pace of recovery.
Fed Should Lift Caps to Buy as Much Corporate Bond ETFs as It Wants, Says BofAMay 27, 2020 - 11:12:03 PDT
The Fed should remove ceilings on its purchases of corporate bond exchange-traded funds to deliver on market expectations that it would scoop up hundreds of billions worth of such debt to keep credit flowing to a broad spectrum of U.S. companies during the pandemic.
Companies across the U.S. are cutting salaries as they fight to survive the coronavirus, upending a key assumption in modern economics and raising another hurdle to rapid recovery.
Federal Reserve Bank of New York President John Williams said policy makers are “thinking very hard” about targeting specific yields on Treasury securities as a way of ensuring borrowing costs stay at rock-bottom levels beyond keeping the benchmark interest rate near zero.“Yield-curve
The Federal Reserve is mulling yield-curve control as a method for ensuring borrowing costs stay at historically low levels through the coronavirus recession, New York Fed president John Williams said Wednesday.
We may have just gotten the first sign of buyside indigestion ahead of the upcoming tsunami of supply.
May 27, 2020 - 10:09:24 PDT
A body advising the U.S. Congress warned of growing risks for domestic investors from strains in China’s banking system and questioned Wall Street’s push into the Communist Party-ruled nation as it opens its capital markets.