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Powell Needs To Immediately Address Negative Rates Or He Will Lose ControlMay 8, 2020 - 11:05:24 PDT
"If the FOMC drags their feet too much, they run the risk of creating either a self-fulfilling dynamic and/or having to effectively implement 'hawkish' Fedspeak later down the road."
“Money printing” and fiscal borrowing/spending viewed as unconscionable prior to 2008 are these days easily justified. The “nuclear option” is readily accepted as a mainstream policy response. A Wall Street economist appearing on Bloomberg even posited the current crisis is worse than World War II.
Fake Money is Batty: The U.S. Mint's decision to put the American Samoan fruit bat on the back of 2020 quarters probably seemed perfectly innocent ... pre-coronavirus, but now it's kinda creepy.
Assets on the Federal Reserve’s balance sheet expanded to a record $6.72 trillion in the week ended May 6, the central bank said Thursday.
The sources said several policymakers remained unconvinced though a majority in favour might be found due to growing market pressure on the ECB to follow the U.S. Federal Reserve.
The Setup For a Long and Deep Crisis is In Place—Here’s How I’m Preparing FinanciallyMay 8, 2020 - 10:24:14 PDT
It’s gotten to the point where reading daily news reports can induce feelings of depression and anxiety. Maybe you have similar reactions when you see a constant barrage of negative headlines. They’re everywhere, and seem like they’ll never end. If you let it get to you, Covid-19 will turn into a Covid-depression.Having a positive frame of mind is important in times like this, but neither do we want to be blindly optimistic. Sticking your head in the proverbial sand might feel good for a while, but it could be financially devastating if you leave it there.
UBS Group AG is offering some of its wealthiest clients in Switzerland a temporary break from negative interest rates in a bid to attract assets as the coronavirus crisis wreaks havoc on markets. The world’s largest wealth manager is offering a payment holiday of several months to clients...
Money-market mutual funds, the ultimate havens for investors looking to preserve capital, once again are trying to maneuver in a zero interest-rate environment. The problem this time? They’re sitting on twice as much cash.Assets in money-market funds have soared to a record $4.77 trillion
For The First Time Ever, More Than Half Of The US Population Is Not WorkingMay 8, 2020 - 09:13:39 PDT
This has never happened before.
2Y Yields Hit New Record Low As Market Pushes NIRP Bets on Powell SilenceMay 8, 2020 - 08:22:03 PDT
The Fed has a major problem... In fact, as the chart above shows, Fed Fund Futures are pricing in a stunning negative 42bps rate in December 2020.
Gold hit a near two-week high on Friday as investors mulled brutal U.S. nonfarm payrolls data for pointers on the U.S. economy.
An unallocated gold account is nothing more than security interest in the account – it’s a paper derivative. In this regard, the LBMA is little more than...
White House Economic adviser Hassett: Would support negative interest ratesMay 8, 2020 - 07:47:31 PDT
White House Council of Economic Advisers Chairman Kevin Hassett said on Friday that he would support it If the US Federal Reserve were to decide to push interest rates into the negative territory.
Stock Market 'Not a Reflection of Strength of the Economy,' NYSE PresidentMay 8, 2020 - 07:33:53 PDT
In a newly released interview, New York Stock Exchange President Stacey Cunningham acknowledged that the resilient stock market does not reflect the condition of the economy.
With markets focusing on the improvement in the “second derivative,” that is a reduction in the rate of labor force dislocation, U.S. stocks rose. This widens an already considerable decoupling from the real economy and will fuel the debates on Wall Street versus Main Street, companies versus people and the well-off versus the marginalized.
I have some advice for you wanna-be scammers out there.Check your mailing list.A scammer in British Columbia sent his pitch to a cop - a member of the Delta police economic and technical crime unit to be exact.
Top EU Court Says It Alone Decides If EU Bodies Are Breaking Bloc's RulesMay 8, 2020 - 07:17:36 PDT
The European Union's top court said on Friday it alone has the power to decide whether EU bodies are breaching the bloc's rules, in a rebuke to Germany's highest court, which this week rejected its judgment approving the ECB's trillion-euro bond purchases.
Germany's constitutional court threatened to block fresh purchases of German bonds through the European Central Bank's program.
Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Over the past month, lenders have put in place higher credit-score and down payment requirements, and in some cases stopped issuing certain types of...
Total assets on the Fed’s balance sheet rose by $65 billion during the week ended May 6 — the smallest weekly increase since the week of February 26, when assets fell by $13 billion. And it was down 89% from peak-bailout in the week ended March 25. The chart depicts the weekly changes of total assets on Fed’s balance sheet: