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Is the increasingly volatile situation in the US part of a recurring historical cycle?
Shortly after the Fed bailed out the Silicon Valley bank depositors, Reuters reported that Credit Suisse failed....
Poorer Countries across the globe are beginning to face ‘debt default’. Ukraine, Ghana, Sri Lanka, Pakistan, Lebanon, Egypt, Tunisia, Argentina, Kenya and Zambia are in an economic crisis and the US is calling for more restructuring and forgiveness. The vast majority of the debt is owed to China and the IMF...
Apr 13, 2023 - 07:25:07 PDT
“People are worried that the money they’ve saved won’t last and are worried they’re going to have to lean more on their credit cards and other sources of debt just to get by,” said Bruce McClary, a senior vice president at the National Foundation for Credit Counseling.
Apr 13, 2023 - 07:24:18 PDT
Please consider Minutes of the Federal Open Market Committee for March 21–22, 2023.
Federal Reserve economists believe that recent banking turmoil will trigger a mild recession later this year, a potentially ominous sign for President Joe Biden as he heads into an election campaign.
As the country’s largest companies prepare to report their results for the start of the year — offering a view into how the economy is faring as a banking shock reverberates — they’re already warning investors to brace themselves.
Gold and Silver Trade Near Highest in a Year as Fed Rate-Cut Expectations Persist: MWApr 13, 2023 - 05:52:47 PDT
Gold and silver futures trade just shy of the highest level in a year on Thursday as a weaker U.S. dollar and expectations that the Federal Reserve may cut...
Galaxy Digital Holdings Ltd. founder Mike Novogratz said he expects gold, the euro and cryptocurrencies Bitcoin and Ether to outperform competing investments as the Federal Reserve moves toward easing its interest-rate increases after recent bank failures lead to a potential credit crunch.
The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve's rate hiking campaign is either already finished or will be by May.
After last week's dramatic 'adjustment' to the last year's worth of jobless claims data, the picture is a little more grave than the pre-revision data had proclaimed.
Producer Price Inflation Tumbled In March To Lowest Since Biden Term BeganApr 13, 2023 - 05:47:31 PDT
After yesterday's mixed picture on CPI (cool headline, hotter than expected sticky core), all eyes are on Producer Prices this morning which are expected to be unchanged MoM and tumble notably on a YoY basis. The print was actually considerably cooler than expected with the headline declining 0.5% MoM pushing PPI down to just 2.7% YoY...
The federal deficit topped $1 trillion in the first six months of fiscal 2023 (October through March), according to the Monthly Treasury Statement released today.
The US, China and other major economies need to do more to address debt levels that are set to rise to near-record highs in five years, limiting nations’ ability to respond to future crises, the International Monetary Fund warned.
Big Banks’ Balance Sheets Will Swell After the Recent Turmoil – That Could Be Bad News for AmericansApr 13, 2023 - 05:38:35 PDT
Former Barclays CEO Bob Diamond expects upcoming big bank earnings to provide their shareholders with "a positive surprise" after SVB's collapse.
Credit portfolio managers are forecasting a rise in corporate defaults in the coming year while more than four-out-of-five participants see a chance of a US recession in 2023, according to a survey by the International Association of Credit Portfolio Managers.
The World Bank arm that provides help to the poorest countries plans more concessional loans and grants to nations facing higher risks of debt distress, a move that could unlock impasses hindering the restructure of billions of dollars of debt held by low-income nations.
Treasury Secretary Janet Yellen has said she’s seen no indication of a contraction in credit following the failure of a string of US banks last month.
Warren Buffett Tears Into Banks, Warns Inflation & Recession Can Lead to Big ProblemsApr 13, 2023 - 05:30:52 PDT
Warren Buffett accused banks of misleading accounting, compared crypto buyers to gamblers, and flagged inflation and recession as major dangers.
Oil traded near a five-month high as falling US inventories and surging Chinese imports added to signs of a tightening global market.