Precious metals are apparently waking up. And here is where you can find the best deals.
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The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.
OK. I gotta be honest. Being effectively under house arrest isn't very much fun. But it's the world we live in now, so might as well make the best of it. I mean, I can at least still legally ride my bike. Not on the beach, mind you. But other than that, the outside isn't completely off-limits.Yet.
When dislocation in USD funding markets is resolved and some calm returns to markets – probably over coming weeks – we will come to see that the dollar is overpriced
Britain's economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.
The past 3 weeks have seen a huge surge in the bearish percentage among the investment advisors and newsletter writers in the Investors Intelligence survey.
Millions Of Small Businesses Stunned They Are Not Eligible For Bailout LoansApr 3, 2020 - 08:23:20 PDT
This is how America's bailed out banks repay the taxpayers that rescued them in 2008... and in 2020.
The household survey, which asks individual residences how many people are working there, showed a stunning drop of 2,987,000 workers for the month.
The WLI Growth indicator is now at -26.9, down 11.4 from last week and its lowest since the last recession.
"I don't think we're forming a bottom yet. I think we're going down at a slower rate," Allianz's Mohamed El-Erian said Friday.
As the coronavirus economic lockdown drags on, there seems to be a lot of delusional thinking out there. Many people seem to believe that at some point, President Trump will snap his fingers and the economy will roar back to life. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at the numbers and makes the case that this is actually the early stages of an unprecedented economic meltdown. Everything is not going to be fine. He also takes on the myth of the non-essential worker.
ISM/PMI Surveys Signal Collapse In US GDP, "Companies Expect Worse To ComeApr 3, 2020 - 07:03:25 PDT
...indicates that the economy contracted 5% in March, but with more measures to fight the virus outbreak being taken this decline will likely be eclipsed by what we see in the second quarter.
A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.
Pelosi called for another bill to expand the provisions in the $2 trillion package Congress passed to limit the economic devastation from the coronavirus pandemic.
By some estimates, it will take until 2023 or even longer to bring the labor market back to where it was just week ago in February.
Already pessimistic, Morgan Stanley’s team of economists has an even grimmer forecast.
The number of weekly unemployment claims filed in the U.S. could soon exceed 8 million as the fallout from widespread shutdowns amid the coronavirus pandemic continues to worsen, one economist told CNBC on Friday.
Nonfarm payrolls in the U.S. were expected to decline by 10,000 and the unemployment rate to rise to 3.7%, according to economists surveyed by Dow Jones.
That this happened well before the worst of the cronavirus induced coma hit, suggests that what comes next will be truly biblical.
The Federal Reserve has succeeded in flooding the market with cash. The challenge now is convincing everyone to use it.
Apr 3, 2020 - 05:02:00 PDT
“There is nothing fundamentally wrong with our economy.” Recently U.S. Treasury Secretary Steve Mnuchin has appeared on the White House lawn to tell reporters that this is nothing like the last financial crisis.