The comments above & below is an edited and abridged synopsis of an article by Schiffgold.comPresident Trump's recent State of the Union speech had decidedly optimistic tone. This was welcome, given the increasingly fractured and divided American political landscape. But it's important to take a hard look at where the US economy is and where it is heading. Unfortunately, the political rhetoric doe...Read More
The comments above & below is an edited and abridged synopsis of an article by David StockmanJanet Yellen deserves none of the adulation being given by the mainstream financial press. In fact, her reign will be judged by history as a spectacular failure that left Main Street high and dry, even as it addicted Wall Street to the toxic monetary heroin that is the specialty of Keynesian central banker...Read More
The comments above & below is an edited and abridged synopsis of an article by David StockmanDuring Janet Yellen's last week in office, the Dow dropped by 1,095 points (4.1%). There's nothing to worry about, she said; Wall Street's ok and Main Street is awesome.But there's a monumental bubble out there that formed at the hands of the Fed. Main Street is sick, and the Fed's giant bubbles made it so...Read More
The comments above & below is an edited and abridged synopsis of an article by Wolf RichterTotal consumer credit rose 5.4% in the 4th quarter to a record $3.84 trillion, according to the Federal Reserve. This includes credit card debt, auto and student loans, but not mortgage-related debt. There has been a blistering surge in consumer debt, starting in Q4 2016.In September 2017, the Fed announced...Read More
The comments above & below is an edited and abridged synopsis of an article by Tyler DurdenFor months now, Jim Rogers has been talking about the coming equity crash, which he said would be the worst in his lifetime.Last week, the co-founder of George Soros's Quantum Fund told Bloomberg that US debt has only increased since the financial crisis and threatens to upend stocks, and that he believes th...Read More
The comments above & below is an edited and abridged synopsis of an article by BullionStar.comAs market turmoil hits both equities and cryptocurrencies, the heightened volatility in these assets underscores gold's role as a safe haven, store of value and portfolio diversifier.The Dow, the S&P 500 and the NASDAQ have all experienced selloffs and a great deal of volatility recently. Equity market in...Read More
Source: Thomson Reuters Datastream; BMG Group Inc.Read More
CloseGain/LossGold $1329.30+$8.00Silver$16.57+$0.05XAU81.06-0.03%HUI180.45UNCHGDM615.81+0.37%JSE Gold1170.31+51.97USD89.69-0.45Euro123.51+0.59Yen92.78+0.76Oil$59.19-$0.1010-Year2.829%-0.028T-Bond144.75+0.34375Dow24640.45+0.16%Nasdaq7013.51+0.45%S&P2662.94+0.26% The Metals: Gold gained $9.40 to $1330.70 in London before it fell back to $1322.90 in early New York trade, but it then rallied b...Read More
- Gold has outperformed equities and bonds over the long term - PwC Research- Gold is up 6.7% and 6.8% per annum over 10 and 20 year periods; Stocks and bonds returned less than 5.2% respectively over same period (see PwC table)- From 1971 to 2016 (45 years), "gold real returns were approximately 10% while inflation increased 4%"- Gold also valuable due to lack of correlation and hedge against...Read More
* Q4 GDP q/q annualised growth revised to 2.1 pct vs 2.8 pct* Year-on-year Q4 growth revised to 3.6 pct vs 3.1 pct* GDP grew 3.6 pct in 2017, fastest since 2014 By Masayuki Kitano and Fathin UngkuSINGAPORE, Feb 14 (Reuters) - Singapore's economy grew slower than initially thought in the fourth quarter from the third, as manufacturing activity slumped in a sign of moderating momentum this year as...Read More
* Dollar/yen crawls back from 5-mth lows as Japan stocks bounce* US inflation data awaited for near-term cues By Shinichi SaoshiroTOKYO, Feb 14 (Reuters) - The dollar clung above a five-month low against the yen on Wednesday, its slide halted as a recovery in broader risk sentiment remained intact for the time being.Recent swings in risk sentiment have been a key driver of currencies and investor...Read More
* PREVIOUS TRADING SESSION MOVES:* SSEC +1.0 pct, CSI300 +1.2 pct, HSI +1.3 pct* CNY official close 6.34 per dollar, 4.5 pct firmer vs US$ last 90 days* FTSE China A50 +1.7 pct, BNY Mellon ADR China Select Index +0.7 pct SHANGHAI, Feb 14 (Reuters) - Following is a list of recent corporate and policy announcements, as well as other news that might affect Chinese financial markets.Policy, governmen...Read More
SYDNEY, Feb 14 (Reuters) - A measure of Australian consumer sentiment slipped from four-year highs in February as wild swings in global financial markets seemed to spook some.A Melbourne Institute and Westpac Bank survey of 1,200 people published on Wednesday said its index of consumer sentiment dipped 2.3 percent in February from January, when it rose 1.8 percent.The index was still up 3.1 percen...Read More
Feb 14 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.The Times* Britain's statistics agency, the ONS, said it was changing its schedule for the release of labour market data to give lawmakers more time to understand the politically sensitive jobs figures ahead of parliamentary...Read More
SINGAPORE, Feb 14 (Reuters) - Singapore's monetary policy stance remains unchanged, a central bank official said on Wednesday, after data confirmed the city-state recorded its highest annual growth for three years in 2017. Many economists expect the central bank to tighten policy later this year as the economy recovers, possibly as soon as its next meeting in April."Monetary policy stance rem...Read More
(Adds details on consumer spending, imports, exports)* Q4 GDP expands annualised +0.5 pct vs f'cast +0.9 pct* Q4 GDP +0.1 pct qtr/qtr, vs f'cast +0.2 pct* Consumption +0.5 pct vs f'cast +0.4 pct* Capex +0.7 pct vs f'cast +1.1 pct By Stanley WhiteTOKYO, Feb 14 (Reuters) - Robust consumer spending drove Japan's economy to eight straight quarters of growth in October-December, its longest continuou...Read More
Feb 14 (Reuters) - Biotherapeutics company CSL Ltd reported a 35 percent rise in its first half profit on Wednesday and upgraded its earnings guidance for the fiscal year.Net profit after tax was $1.1 billion, the company said, compared with $805.5 million a year ago. CSL also upgraded its fiscal 2018 earnings guidance to about $1.55 billion-$1.60 billion from an earlier forecast of $1.48 billion-...Read More
The U.S. has been a net importer of energy since 1953, but that's set to change early next decade, according to the Energy Information Administration (EIA). In its highly anticipated Annual Energy Outlook 2018, the agency forecasts that the U.S. will become a net exporter of energy by as early as 2022, thanks in large part to the boom in shale oil and liquefied natural gas (LNG) production as we...Read More
Feb 14 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATECOUNTRY AUCTION DETAILS14-FebGermany Auction of 30-year Federal bonds14-FebJapan Auction of 5-year government bonds15-FebJapan 3-month discount bill auction15-FebSpain Bond auction15-FebSwedenAuction of inflation-linked government bonds15-FebUnited KingdomAucti...Read More
Feb 14 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily** Indicates new events ----------------------------------------------------------- WEDNESDAY, FEBRUARY 14JAKARTA - Indonesia Central Bank...Read More