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China’s Trade Suffers Worst Slump in 2-1/2 Years as COVID Woes, Feeble Demand Take TollDec 7, 2022 - 05:49:59 PST
China's exports and imports shrank at their steepest pace in at least 2-1/2 years in November, as feeble global and domestic demand, COVID-led production disruptions and a property slump at home piled pressure on the world's second-biggest economy.
UK house prices fell at the sharpest pace in 14 years in November after surging interest rates reduced the affordability of properties, Halifax said.
Chile’s inflation surged more than expected and the central bank raised its consumer price forecast for this year and next, one day after policy makers reaffirmed plans to hold the interest rate at the highest level in more than two decades.
Brazil Set to Hold Interest Rates as Lula Pushes for More Spending, Fears of Stoking More InflationDec 7, 2022 - 05:38:26 PST
Brazil’s central bank is widely expected to keep its key interest rate steady for the third straight meeting as investors worry that President-elect Luiz Inacio Lula da Silva’s spending plans will stoke inflation.
India Cenbank Says Digital Currency Transactions to Stay Largely AnonymousDec 7, 2022 - 05:37:37 PST
Transactions via central bank digital currencies (CBDCs) would remain anonymous "to a certain degree", a top official at the Reserve Bank of India (RBI) said on Wednesday, adding that technology and legal provisions can be explored to ensure that anonymity.
Banks are starting to have a tougher time obtaining funds in the financial system as the Federal Reserve shrinks its balance sheet and hikes interest rates, leaving analysts searching for any signs that the strains are approaching the magnitude of past credit crunches.
The poorest countries in the world now spend over a tenth of their export income to service external debt, the highest proportion since 2000, the World Bank said on Tuesday in its annual International Debt report. The debt overhang is larger as countries slide down the wealth scale with the poorest countries increasing their debt over the past decade...
The contract rate on a 30-year fixed mortgage eased 8 basis points to 6.41% in the week ended Dec. 2, still the lowest since mid-September, according to Mortgage Bankers Association data released Wednesday.
Gasoline, electricity, and natural gas prices skyrocketed as Russia’s invasion of Ukraine ruptured global energy supply chains. Households and businesses are facing higher energy bills amid extreme price volatility. Uncertainty surrounding the war looms large, and winter heating costs are projected to soar.
Energy prices remain stable for years, then spike, then revert back to old levels. Occasionally as in the 1970s during the Oil Embargo and Energy Crisis they really spike.
Crude oil inventories dropped for the fourth week in a row this week, by 6.426 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 7.85 million barrels in the week prior. Analysts anticipated a 3.884 million barrel draw.
An ‘economic malaise’ is dampening holiday spending for American shoppers.
Stock Futures Fall Wednesday as Recession Fears Continue to Batter Market SentimentDec 7, 2022 - 05:22:54 PST
On Tuesday, the S&P 500 notched a four-day losing streak as recession fears took over the market.
Global stocks posted a third straight day of losses and the dollar rose on Tuesday as the market weighed how long the Federal Reserve would keep interest rates high and "restrictive" to the U.S. economy.
The October Trade Deficit increased for the second month in a row to $78.2B. The Deficit had been getting help from exports out of the Strategic Petroleum Reserve, but the pull from the SPR has slowed in recent weeks.
The Treasury added $175B in new debt during November, hitting the debt ceiling of $31.4T. New debt issuance was focused on the short end of the curve with $145B in Treasury Bills issued.
A shrinking trade deficit was the primary reason GDP jumped in the third quarter. But that trade deficit relief is already reversing.The October trade deficit swelled to $78.2 billion, a 5.4% increase. It was the second straight month of trade deficit growth.
Beyond allegations of mismanagement and outright fraud, the collapse of the FTX cryptocurrency exchange reveals a more fundamental problem — the power of speculative manias fueled by central-bank easy money.Peter Schiff recently appeared on NTD Capital Report to talk about the collapse of FTX, saying ultimately it was the Federal Reserve's fault. And it is a warning sign for the broader economy.
Mike Maloney recently made three investment moves, find out what they are and why he made these decisions in today's Insider Action Alert.
Mike Maloney just made an investment move in silver, because he believes a slingshot scenario similar to that of 2008 could be playing out right now. Do not miss today’s important video update.