Independent thinking for complex markets and current events
by Quant2011 India and Poland. Yes, China, Russia, Turkey and Uzbekistan added a lot of gold too- but they got this gold from their own mines. They were not forced to buy that gold from other nations. This little aspect is totally ignored by all PM experts. All the above listed central banks bought only …
The tug-of-war btw global recession & Saudi Arabia continues. After wrestling control from demand via supply constraints, suddenly demand is back on the table. Plunging gasoline use in the US has spiked gasoline stocks threatening to spill over.https://t.co/bzQDDykYs1 pic.twitter.com/HmZ3O31SoA — Jeffrey P. Snider (@JeffSnider_EDU) October 5, 2023 S&P Global's services number just barely on the …
Yoshitaka Shindo, who assumed the cabinet post earlier this month, said that because China accounts for nearly a fifth of Japan’s exports, the Chinese economic troubles could cause Japan’s economy to move a notch downward. Potentially, “the impact is really big” given China’s central role in the global economy, Shindo said in a group interview …
The Biden Administration is rewriting the history of COVID. Today, the head of OSHA claimed "we didn't demand that anyone be fired" despite issuing a worker vaccine mandate for 84 million Americans that was struck down by the Supreme Court. Previously, HHS Secretary Becerra… pic.twitter.com/Pi3O8oUgtt — Kevin Kiley (@KevinKileyCA) September 27, 2023
by confoundedinterest17 Wasting away again in Biden’s Mortgage Market! Looking for our lost economy. Mortgage rates moved to their highest levels in over 20 years as Treasury yields increased late last week. The 30-year fixed mortgage rate increased to 7.41 percent, the highest rate since December 2000, and the 30-year fixed jumbo mortgage rate increased …
by confoundedinterest17 Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.31 percent – its highest level in four weeks. Mortgage applications increased 5.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 15, 2023. Last …
Zelensky arrives at the United Nations General Assembly in Washington DC. He will ask for another $24 billion in "aid." Our country is falling apart at the seams and both political parties are entertaining this insanity.pic.twitter.com/XUxbI2WZlq — Citizen Free Press (@CitizenFreePres) September 19, 2023 Zelensky coming to Canada this week.
via Mike Shedlock: Refineries are closing due to environmental pressure. However, the public does not want EVs and the demand for diesel and jet fuel is on the rise. Refining Bottleneck Bloomberg reports A Crunch in Key Corner of Oil Market Leaves Consumers Vulnerable to Heat and War. Oil demand growth has outpaced the increase in …
by confoundedinterest17 I wonder if Biden will use his writeboard to brag about the 30-year mortgage rate rising 157% under his economic Reign on Error? Aka, Bidenomics. Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 25, …
Nvidia reports 88% jump in revenue and tops estimates, driven by demand for AI chips https://www.cnbc.com/2023/08/23/nvidia-nvda-earnings-report-q2-2024.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard Nvidia reported second-quarter earnings that beat elevated expectations for earnings and revenue, and provided guidance for the current quarter that was significantly higher than expected. Shares rose 9% in extended trading. Earnings: $2.70 a share, adjusted, versus $2.09 per share …
by confoundedinterest17 The Talking Heads said it best. Bidenomics is burning down the housing market. Bidenomincs (or trying to recover from Yellenomics) is responisble for interest rates rising to flight inflation and the collapse of mortgage lending. And she was … Janet Yellen. Mortgage demand (applications) decreased 4.2 percent from one week earlier, according to data from …
“Top Republican lawmakers requested the Justice Department’s (DOJ) Office of Inspector General (OIG) disclose details about its investigation into alleged retaliation against IRS whistleblowers in the Hunter Biden case. House Oversight Committee Chair James Comer (R-KY), Judiciary Committee Chair Jim Jordan (R-OH), and Ways and Means Committee Chair Jason Smith (R-MO) demanded Inspector General Michael …
The amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least in the labor market. According to the latest New York Federal Reserve employment survey released Monday, the average “reservation wage,” or the minimum acceptable salary offer to …
Treasury Yields Reach Highest Since 2007 Amid Elevated Rate Fears: Rising Real Yields Reflect Firmer Economy and Higher Deficits; 10-Year Yield Surpasses 4.34%, Marking Highest Level Since Financial Crisis The US bond-market selloff resumed Monday, driving 10-year yields to a 16-year high, as the persistently resilient economy has investors positioning for interest rates to remain …
by Chris Black They say “universities are not leftist indoctrination centers.” They call you a conspiracy theorist for thinking that. Then the professors sue the government for the right to promote abortion to students. Remember that: these people do not feel any obligation to be consistent, and will call you a crazy kook for simply …
by confoundedinterest17 “Ice Cream Joe” Biden is at Lake Tahoe for a week, probably to avoid being asked questions about his tin-ear respoonse to the tragic Maui fires that have killed 106 people so far. Instead, Joe is inappropriately chuckling (showing he doesn’t care!) and taking photo ops of him eating ice cream. The Biden …
by confoundedinterest17 Inflation is a killer to the middle class and low-wage worker. Yet there are always apologists for terrible Federal spending and Federal Reserve monetary policies. Like Alex Bereson with his “How we stopped inflation without a recession (hint: by not stopping inflation).” Before I look at Berenson’s plea for more inflation, let’s see where …
by Chris Black Trump looked good in the interview. He wears more makeup than a 32-year-old hooker, but he looks virile. AP: Former President Donald Trump said Wednesday he won’t sign a pledge to support the Republican nominee if he loses the GOP presidential primary, flouting a requirement for appearing in the first debate later this month. The media …
via Mike Shedlock: Both the US and Europe have seen massive drops in demand for bank loans. Meanwhile, the Fed just said they no longer expect a recession. Here’s a Tweet that caught my eye today. Why are Companies Slamming the Brakes? Demand for bank loans in the corporate sector just fell to their lowest …
by confoundedinterest17 The US mortgage market is livin’ la vida Biden! And for the US mortgage market, la vida Biden in ugly. Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2023. The Market Composite Index, a measure …
via Yahoo: Bogged down by inflationary pressures, customers are opting for lower-priced animal protein over alternatives such as plant-based products. The ambiguity around the health benefits of plant-based meat is also weighing on growth, said CEO Ethan Brown in a post-earnings call. “This change in perception is not without encouragement from interest groups who have …
Meduza has received a notice from Apple, informing our media that our flagship podcast “What Happened” has been removed from the Apple Podcasts streaming platform. “What Happened” is Meduza’s daily Russian-language news show about “news that remain important long after they stop being news.” Its host, Vladislav Gorin, discusses the most pressing issues in Russian …
via discernreport: Despite significant selling by Turkey that slowed net central bank gold buying in the second quarter, central banks added a record amount of gold to their reserves through the first half of 2023. Net central bank gold purchases totaled 387 tons through the first half of the year, according to data compiled by …
by confoundedinterest17 Inflation under Biden has been very painful for the US middle class and low wage workers. That inflation has resulted to surging mortgage rates thanks to The Fed’s counterattack. The result? Mortgage rates are up 134% under Bidenomics, while mortgage purchase demand is down -45% since Biden was selected. And mortgage refinancing demand …
US job openings fell in June to the lowest level since April 2021, suggesting some softening in demand for workers in an otherwise resilient labor market. pic.twitter.com/fXipTISecT — Cheddar Flow (@CheddarFlow) August 1, 2023
'US business loan demand is crashing.' https://t.co/BSckFQu3WL via @SoberLook pic.twitter.com/L196ycmpUJ — Jesse Felder (@jessefelder) August 1, 2023 https://t.co/r1f0Gt6FMA — Win Smart, CFA (@WinfieldSmart) July 19, 2023 $BKLN $SRLN $JNK $SJNK$HYG $LQDhttps://t.co/2B4CVU45SS — Win Smart, CFA (@WinfieldSmart) July 20, 2023 The US saw a total of 340 bankruptcies in the first 6 months of 2023. This …
by confoundedinterest17 Biden loves to brag about Bidenomics, or should I say selective stats like the labor market. But the mortgage market hurts so bad. Mortgage applications decreased 1.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 21, 2023. The Market …
