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While bond investors are betting that the Bank of Japan will tweak its much-debated yield-curve control policy, they still see new Governor Kazuo Ueda sticking with negative rates for now.
Last year, most US investors and central bankers underestimated how high inflation would climb. Now they may be underestimating how high interest rates will need to go to bring it back down.
US stock-index futures dropped, reversing earlier gains before a barrage of economic data including jobless claims, housing starts and permits, and the Philly Fed as well as no less than four fed speakers, fading a two-day rally when investors welcomed buoyant US retail data and dismissed the risk of a hawkish response from the Federal Reserve trying to keep inflation in check.
CPI came in hotter than expected in January and threw cold water on the "disinflation" narrative that was gaining steam in the mainstream. Less-reported were the revisions of past CPI data. These undercut that narrative even further.The CPI data for October, November and December were all revised higher.
Retail sales came in much stronger than expected in January after declining the previous two months. Mainstream financial media pundits immediately declared that this "jump in consumer spending" was a good sign for the economy. The Wall Street Journal called the robust sales report "evidence that US economic growth picked up at the start of the year."But there is a dark side to this retail sales report.
China has imported 64% more gold year over year, bringing its total 2022 gold imports to 13,343 tons...
Feb 15, 2023 - 12:57:03 PST
President Vladimir Putin encouraged the switch to gold by restricting sales of foreign currency and scrapping VAT on the yellow metal.
Feb 15, 2023 - 12:55:22 PST
As bond yields move higher in response to bumper payrolls (Feb 3), Fed remarks (last week) and sticky inflation (Feb 14), there’s a lot of golly-gee commentary circulating. Generally, the comments take the form of “Look, the US 2Y yield keeps rising” or “Wow, the 2s10s curve keeps inverting”, without specifying why a certain level of yields or curve spread matters for the economy,...
The U.S. dollar climbed higher in early European trade Wednesday after U.S. consumer inflation remained elevated in January, while sterling fell after a drop in the U.K. CPI rate.
Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.
Understanding Inflation: Doug Casey's Take on the Fed's Inflation Target and its Implications for Investments.
With FOMC Chair Jerome Powell continuing to raise rates against everyone's wishes I speak to Danielle Dimartino Booth about why.
How Jay Powell just surpassed the extreme dovishness of Arthur Burns.
We will enter a world without finance, and it will be a better world, for the economy will no longer be in thrall to the derangement and inequality of parasitic, predatory finance.
Watch: Klaus Schwab Calls For Global Government To "Master" AI TechnologiesFeb 15, 2023 - 12:12:20 PST
Arch globalist Klaus Schwab has called for elites to come together globally in order to “master” advanced technologies, warning them that if they don’t act swiftly the world could “escape our power”.
While Janet Yellen continues to 'hope', the nonpartisan Congressional Budget Office is out with its first public opinion on the risk of default by the US federal government if lawmakers fail to raise the debt ceiling.
Feb 15, 2023 - 12:09:26 PST
The Fed's Industrial Production Report for January continues to suggest production has peaked this cycle.
"I would keep my eye on the LEI (and AIER’s equivalent) but pay special attention to the manufacturing variables. Outside of the LEI, I would also carefully watch real wage trends and its downstream knockoffs (credit card and other debt and defaults, and the personal savings rate)." ~ Robert E...
"Without a symmetric response to deviations from the target, the Fed’s so-called average inflation target will not produce 2 percent inflation on average. Instead, it will tend to produce inflation that exceeds 2 percent. That’s a far cry from price stability." ~ Alexander William Salter
Feb 15, 2023 - 08:21:19 PST
US inflation is causing The Federal Reserve to raise interest rates, and mortgage applications are suffering.