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Moody’s Downgrades 11 Regional Banks, Including Zions, U.S. Bank, Western Alliance: WSJApr 24, 2023 - 06:06:18 PDT
The recent failures of Silicon Valley Bank and Signature have focused attention on regional lenders’ weaknesses. The downgrades hit lenders including U.S. Bancorp USB -3.57%, with some $682 billion in assets, Zions Bancorp ZION -5.69%, with $89 billion, and Bank of Hawaii Corp., BOH -1.77% with $24 billion.
First Republic Earnings Report to Shed Light on Depth of Bank Crisis: WSJApr 24, 2023 - 06:04:55 PDT
Quarterly results will give investors insight into the extent of the damage after sharp deposit outflows at the bank.
Deposit flight and higher funding costs risk squeezing small businesses and lending beyond big cities.
Federal Reserve officials are on track to raise interest rates a quarter percentage point next month and signal a potential pause from the steepest hiking campaign in decades.
Deposit levels were more stable than feared, but regional banks still faced higher rates and a costlier mix in their funding.
The divergence between one-month and three-month bills is the largest on record.
Americans Escaping Pricey Cities Bring Higher Housing Costs, Inflation With Them: WSJApr 24, 2023 - 05:54:22 PDT
Inflation in some warm-weather metro areas is more than 2 percentage points higher than the national rate.
Even as the outlook brightens for emerging-market debt, bonds from a handful of the riskiest countries are being left behind. And there is little evidence that’s about to change.
Hedge funds are betting on higher Treasury yields in a market that’s divided over whether the US economy can avoid recession and Federal Reserve interest-rate cuts.
A rally in US stocks leading up to this earnings season presents a near-term risk to equities given the prospect of further Federal Reserve rate hikes and fading profit growth, according to Morgan Stanley’s Michael Wilson.
Norway and Sweden are no longer the place to go for currency investors hunting richer returns in Europe.
Professional investors see the dollar sliding even further from last year’s two-decade highs, as the market has underpriced the Federal Reserve’s oncoming easing cycle.
Retail Store Closures ‘To Sharply Accelerate Going Forward’: UBS ResearchApr 24, 2023 - 05:44:06 PDT
Bed Bath & Beyond's (BBBY) bankruptcy filing on Sunday likely foreshadows other retail busts in the years ahead.
"The consensus expects it is too early to see any adjustments yet to the BoJ's Yield Curve Control policy - though changes may be forthcoming at the June meeting," strategists at ING said in a daily note. Meanwhile, the head of Belgium's central bank said in an FT article on Monday that investors are underestimating how much euro zone borrowing costs will rise.
The Conference Board Leading Economic Index (LEI) for the US fell by 1.2% in March. It was the 12th straight month of declines in the LEI.
Peter Schiff: A Higher Debt Ceiling Won't Solve the Problem; It Will Make the Problem WorseApril 24, 2023
In January, the US government ran up against the debt ceiling, kicking off another fake debt ceiling fight. Three months later, Congress still hasn't agreed on a plan to raise the borrowing limit. Peter Schiff talked about it in his podcast, saying the lack of a higher debt ceiling isn't the problem; the ever-increasing spending and the debt are the problems. Refusing to raise the ceiling would provide the solution.
U.S. PONZI FINANCE HITTING THE ENERGY BRICK WALL: Must-See Charts Why Energy & Not Money Is Causing Economic HavocApril 24, 2023
After watching several "Top notch" Financial & Economic analysts interviews this weekend, I realized just how unprepared we are as a human race. While I respect some of these analysts' understanding of the massive debt, money printing, and leverage in the system, they ALL totally ignore energy in their forecasts...
The technical analysis last month highlighted how the current price spike looked unsustainable and needed time to consolidate. It also mentioned that we may be at a turning point in precious metals, concluding:
Apr 21, 2023 - 13:09:47 PDT
Global demand for silver rose by 18% last year to a record high of 1.24 billion ounces, creating a huge supply deficit, the Silver Institute said on Wednesday, predicting more shortages in the years to come. The silver market was undersupplied by 237.7 million ounces in 2022, the institute said in its latest World Silver Survey, calling this “possibly the most significant deficit on record”.
Gold fell sharply on Friday as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike.