ISTANBUL, Jan 9 (Reuters) - The Turkish Treasury sold a net 657.8 million lira ($175 million) in a tap of its two-year benchmark bond at an average compound yield of 13.44 percent on Tuesday, central bank data showed.Earlier in non-competitive bids, it sold a net 1.22 billion lira to primary dealers and public institutions, data showed. ($1 = 3.7634 liras) (Writing by Ezgi Erkoyun; Editing by Davi...Read More
STOCKHOLM, Jan 9 (Reuters) - Sweden's bond market is functioning satisfactorily, but further reductions in issuance could worsen already strained liquidity, the Head of Debt Management at the Debt Office said on Tuesday."Naturally, it would not be good if we were forced to reduce borrowing further," Goran Robertsson said. "But .. I don't think that one should make too much of a dram...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Jamie McGeeverLONDON, Jan 9 (Reuters) - U.S. and UK interest rates are rising, the European Central Bank is cutting back its bond purchases and even the Bank of Japan is hinting it will turn off the stimulus taps one day. With rates rising and central banks no longer expanding their balance sheets, monetary policy a...Read More
The Democratic Republic of Congo's state-owned miner, G?(C)camines, is calling the government to update the 16-year-old mining code, arguing it currently benefits foreign firms more than local producers or the country itself.The company, which is heavily indebted and has consistently failed to meet production targets as of late, said in a statement it was evident the World Bank-supported Mining C...Read More
European gold-backed exchange-traded funds added more than double the amount of tonnes that North American ones did in 2017, growing their assets by 13.9 percent, the World Gold Council said on Tuesday.Though North America contained more than half the amount of global exchange-traded fund holdings, European funds added the most to their gold-backed ETFs last year. The additional 148.6 tonnes were...Read More
Photographer: Patrick T. Fallon/BloombergU.S. consumer credit outstanding rose in November by the most in 16 years as credit-card balances surged, Federal Reserve data showed Monday.Highlights of Consumer Credit (November)Total credit rose $28b (est. $18b) or at an 8.8% annualized rate after a $20.5b gainRevolving credit outstanding increased $11.2b, the most in a yearNon-revolving debt outstandin...Read More
Stanford's Hall calls Phillips Curve a 'terrible idea'Former Fed Vice Chair Fischer concedes it has less value nowBetting on the Pace of Fed Rate HikesMilton Friedman put a nail in the coffin of the original version of the Phillips Curve 50 years ago when he correctly foresaw that the U.S. could simultaneously suffer from high unemployment and lofty inflation. A growing number of economists are no...Read More
Stocks traded mixed on Monday, Jan. 8, but the S&P 500 and Nasdaq finished higher at new records as investors looked to extend the recent global market rally following the best start to a new year in more than a decade. The S&P 500 climbed 0.17%. Led by the tech sector, the Nasdaq traded up 0.29% after tumbling earlier. The Dow declined by 0.05%. U.S. stocks last week had&...Read More
Jack ChanPosted Jan 8, 2018GLD – on buy signal.***SLV – on buy signal.***GDX – on buy signal.***XGD.TO – on buy signal.***CEF – on buy signal.***GDXJ – on buy signal.***Speculation is in bull market values.Speculation recovered sharply from the lowest level in years.The breakdown on USDis supportive for overal higher metal prices.SummaryLong-term – on majo...Read More
Corporate earnings may dictate next direction for equitiesPound falters as premier May begins overhaul of ministersBloomberg Intelligence's Alison Williams previews earnings season for the banking sector.U.S. stocks rose for a fifth straight day, with technology shares bolstering major indexes, as investors continue to price in the impact of tax cuts before corporate earnings start later in the we...Read More
Stocks turned mixed on Monday, Jan. 8, as investors held back from extending the recent global market rally following the best start to a new year in more than a decade. The Dow Jones Industrial Average fell 57 points, or 0.2%, while the S&P 500 slipped 0.11%. The Nasdaq traded up slightly after tumbling earlier. The moves pared gains from earlier in the premarket session that ...Read More
U.S. equity futures slipped into negative territory Monday, while gains for European stocks eased, as investors held back from extending the recent global market rally following the best start to a new year in more than a decade. Contracts tied to the Dow Jones Industrial Average were marked 21 points, or 0.08%, to the downside while those tied to the S&P 500 were edged 5.25 points, or...Read More
European stocks opened higher Monday, while U.S. equity futures looked to extend their best start to a new year in more than a decade as investors continue to take markets higher amid bets on synchronised global economic growth, robust corporate earnings and supportive central banks. Futures prices suggest another run at record highs on Wall Street Monday after the best first week of a new tradi...Read More
Investing.com - Gold prices fell on Monday as the stronger dollar weighed after Friday’s weaker-than-expected U.S. jobs report did little to alter expectations for further Federal Reserve rate hikes this year.Comex gold futures were trading at $1,317.00 a troy ounce by 03:54 AM ET (08:54 AM GMT).Prices of the precious metal were pressured lower as the dollar moved higher against a basket of...Read More
The Buritica mine construction is underway. After it's completed, it should produce 253,000 toz gold per year at an AISC below $500.The trial mining provided excellent results. The gold and silver production from the stopes was much higher than expected.An extensive drill program is underway; multiple drill targets will be tested in 2018.The Buritica project looks very good, and there are var...Read More
It may be a new year, but Russia makes no secret of its long-term dissatisfaction with U.S. politics, the dollar and, by extension, U.S. monetary hegemony in the world.Russia has been under U.S./Western economic sanctions for over three years. Meanwhile, oil prices have been "lower for longer," as the saying goes, due to global competition for market share from U.S. fracking. The overall impact of...Read More
The gold miners have had two solid years of returns in a row.Despite the strong gains over the last 2 years - and the spirited finish to 2017 - bearishness is still quite high in the gold stock complex.The final part of this consolidation is wrapping up (or has already) and this sector is about to enter Phase 2 of the bull market.This still oversold reading in the gold stocks, in combination with...Read More
Dear Reader,My readers know I'm not a bitcoin proponent. I don't deny that it's made some people a lot of money, but I believe bitcoin is a massive bubble right now.Yet it's been reported in some circles that I've recently come out in favor of bitcoin.It's not true.Now, it is true that I've stated my belief in blockchain technology, which is the technology behind bitcoin and other cryptocurrencies...Read More
Crazy volatility hit the cannabis markets last week after Attorney General Jeff Sessions shifted the Department of Justice's stance toward on pot.Previously, the DOJ was restrained by what's known as the "Cole Memo". An internal directive to not pursue cannabis companies operating legally according to state laws.When news broke that Sessions was rolling back this measure, pot stocks took a major n...Read More
Don’t look now, but things are starting to look up for Bitcoin again!(You can be forgiven if you didn’t realize that Bitcoin was NOT looking up just a week ago.)You see, midway through December, Bitcoin lost nearly half of its value, falling from a peak near $20,000 to below $11,000 in less than a week’s time. Naturally, such a dramatic decline took a lot of the excitement out of...Read More