Precious metals are apparently waking up. And here is where you can find the best deals.
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Apr 30, 2020 - 04:57:00 PDT
Deutsche Bank introduces negative interest rates for large deposits by private customers. “The continuing pressure from negative interest rates makes it necessary for Deutsche Bank to charge custody fees for new contracts for high deposits...
The KOF economic barometer—a leading composite indicator for the Swiss economy— fell to 63.5 points in April from a revised 91.7 in March (previously reported: 92.9 points). Consequently, the indicator fell to its lowest level since March 2009 and now lies markedly below the series’ long-run average of 100 points,
Apr 30, 2020 - 04:49:13 PDT
The euro area’s third-largest economy shrank 4.7% in the first quarter, the biggest drop since the series started in 1995. The contraction, bigger than the 3.8% slump in the currency union as a whole, compares with a 5.4% forecast by economists.
Apr 30, 2020 - 04:44:47 PDT
The euro was broadly flat on Thursday after preliminary euro zone economic growth data was even more dire than expected, as investors looked ahead to the European Central Bank (ECB) meeting, while the dollar held near two-week lows.
The eurozone economy contracted at a record rate in the first three months of the year and inflation slowed sharply as much economic activity in March came to a halt because of the COVID-19 pandemic, data showed on Thursday.
A total of 43 million barrels of Saudi oil is set to arrive on the U.S. Gulf and West coasts by May 24, according to Rystad Energy. The flotilla - comprising 28 tankers, including 14 very large crude carriers, or VLCCs - will join a queue of 76 tankers waiting to unload in US ports as the greatest oil glut in history plays out.
The energy sector is shrinking so dramatically that it's become the second-smallest group in the whole S&P index.
Tesla CEO Elon Musk lashed out at government stay at home orders as "fascist" in an expletive-laced rant on Tesla's Q1 earnings call.
Global cases: More than 3.19 million. Global deaths: Over 227,700. Most cases reported: United States (over 1 million), Spain (236,899), Italy (203,591), France (166,543), and United Kingdom (166,441).
As with most announcements lately, digging into the supporting research raises lots of questions about today's promising news.
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Deepest Gold Mines On A "Cliff" As Coronavirus Response Reduces Operations, Cuts OutputApril 29, 2020
At least the paper gold mines are still cranking out the paper gold...
Keeping in line with the long-held view that gold prices are primarily driven by dollar movements and rates, UBS continues to be positive on gold.
"It's an extraordinary, extraordinary shock unlike anything certainly that's happened in my lifetime," Fed Powell says about coronavirus. "The size and force of this shock will no doubt reveal weaknesses in the financial architecture."
Among other things, coronavirus has revealed fragilities in the financial system. As before, reliance on high leverage as a magical route to elevated profits has led to private profits & public bailouts. The state, in the form of central banks & governments, has come to the rescue of finance on a gigantic scale.
Department store chains like Macy's, Neiman Marcus, Nordstrom, and JCPenney are in a fight for survival as the coronavirus pandemic forces them to close and lay off their employees
Hertz Global Holdings Inc. is preparing for a possible bankruptcy filing after the rental-car company failed to make lease payments to preserve cash amid the Covid-19 pandemic, according to people familiar with the matter.
"This pandemic is ever-evolving, and the decision to make these changes reflects..."
California Gov. Gavin Newsom’s first-in-the-nation plan to pay for and deliver three meals a day to vulnerable seniors during the coronavirus crisis has less than two weeks to launch before federal funding runs out, government documents show.
The Paycheck Protection Program, a major component of the administrations' response to the coronavirus pandemic, is in its second round after its initial $350 billion funding was quickly depleted.