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[Bloomberg] Haven Gains Ebb as Traders Await Fed, ECB Minutes: Markets Wrap [Reuters] Italian bond yields edge higher as ECB bias, bank rescue cloud picture [Bloomberg] Rand Slumps as ANC Said to Weigh State Ownership of Central Bank [Reuters] China’s services sector loses steam in June: Caixin PMI [CNBC] China shadow banking is slowing […]
[Bloomberg] Havens Advance as Missile Test Rattles Traders: Markets Wrap [Bloomberg] States Mired in Budget Paralysis Defy Eight-Year Recovery [MarketWatch] Car buyers stretch loan payments to record lengths to get in pricier vehicles [Reuters] China’s shadow banking lacks sufficient regulation: central bank [Bloomberg] War or Recession Might Be Needed to Break Low-Vol, Goldman Says [Bloomberg] […]
[Bloomberg] European Stocks Bounce as Oil Rises, Dollar Gains: Markets Wrap [Reuters] Illinois House passes $5 billion tax package [Reuters] Tough questions still to tackle before G20 summit, Germany says [Bloomberg] Euro-Area Manufacturing Accelerates as Orders Fuel Optimism [Bloomberg] Euro-Area Unemployment Holds at 8-Year Low as Recovery Proceeds [Bloomberg] China Caixin PMI Rose Above 50 […]
[Bloomberg] Qatar Defiance Fuels Stock Declines as Neighbors’ Deadline Looms [Reuters] May could walk out of Brexit talks over exit bill: Telegraph [Reuters] Japan PM’s party suffers historic defeat in Tokyo poll, popular governor wins big [Bloomberg] Dollar Bulls Face Perilous Start to Second Half as Payrolls Loom [Reuters] Gulf deadline to resolve Qatar rift […]
[Reuters] ECB working on move away from ultra-easy policy: Weidmann [Bloomberg] Here’s One Record Illinois Doesn’t Want to Attain: QuickTake Q&A [CNBC] Citi’s Shafir thinks a ‘secular downturn’ is at hand, so don’t bet on a rebound in mergers in the 2nd half [Spiegel] Merkel Concerned G-20 Summit Could End in Fiasco [Reuters] China’s Xi […]
The past week provided important support for the “peak monetary stimulus” thesis. There is mounting evidence that global central bankers are monitoring inflating asset prices with heightened concern. The intense focus on CPI is beginning to blur. They would prefer to be on a cautious path toward policy normalization. June 25 – Financial Times (Claire […]
The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick “On today’s program, central bank intervention has now become the new normal, but it’s masking the ability of the markets to recognize and price in risk. What happens when the blinders come off?” – Kevin Orrick Kevin: Well, it happened again. Whoever wants to […]
[Bloomberg] Technology Shares Lead Stock Rebound; Oil Gains: Markets Wrap [Bloomberg] Tepid U.S. Consumer Spending Keeps Economic Rebound On Track [CNBC] Trump reportedly ‘hell-bent’ on imposing steel tariff despite objections from most advisors [Reuters] As credit dries up, China’s small firms face shrinking profits, bankruptcies [Bloomberg] China Manufacturing Rose in June Amid Global Upturn [Reuters] […]
