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[Reuters] U.S.’s Pompeo to meet China’s top diplomat in Hawaii seeking to ease tensions: media [Yahoo/Bloomberg] Fed Warns of Significant Financial-Sector Vulnerabilities [Yahoo/Bloomberg] Robinhood Market Made Bursting Bubbles Wall Street’s Obsession [Yahoo/Bloomberg] Renaissance Technologies Posts 21% Drop at Market-Neutral Fund [CNBC] These San Francisco doctors flew to New York to fight the coronavirus — and […]
Financial crisis erupted in March. The Fed slashed rates at a March 3rd emergency meeting – and then began aggressively expanding its holdings/balance sheet (creating market liquidity). Even from a “flow of funds” perspective, it was one extraordinary quarter. Total Non-Financial Debt (NFD) surged a nominal $1.597 TN during the first quarter ($6.379 TN seasonally-adjusted […]
Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Plus Ça Change, Plus C’est La Même Chose We remember the late 1990s so well. It was the decade of Kurt Cobain and The Blue Dress. “The Matrix” was number one at the Box Office. Technology was in […]
[Yahoo/Bloomberg] U.S. Stocks Bounce Back; Treasuries Decline: Markets Wrap [Reuters] World shares stem losses, oil gains as fresh lockdown fears fade [Yahoo/Bloomberg] Oil Set for First Weekly Drop Since April on Second-Wave Fears [Reuters] U.S. manufacturers struggle to keep workers in face of weak demand [Reuters] Risk of new lockdowns rises with fear of second […]
The Fed refuse to raise rates as they see interest rates remaining near zero until 2022. Gold pushes higher as it is now back firmly into the mid 1700s, sitting at 14% up for the year. Silver sees a possible 3 drives up to test the $20 highs from last fall. Platinum continues its stepping […]
[CNBC] Stocks plunge at the open on virus second wave concern [Reuters] Stocks spooked, bonds rally on downbeat Fed [Reuters] Oil prices hit by record U.S. crude inventories, bearish Fed [AP] 1.5 million more laid-off workers seek unemployment benefits [Reuters] International trade set to shrink 27% in second quarter after April ‘nosedive’, says UNCTAD [Reuters] […]
[CNBC] Stocks rise ahead of Federal Reserve update, tech shares set for more gains [Reuters] Dollar hits three-month lows amid Fed easing speculation [Reuters] U.S. consumer prices fall for third straight month [CNBC] Mortgage demand from homebuyers amazes again, now up 13% annually despite rising rates [Reuters] With crisis response in place, Fed looks to […]
Less than 10 people get $565 billion richer since March lows While 40 million less fortunate file for unemployment “Fair to say you simply flooded the system with money?” Powell said “yes we did” The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick V Recovery? Hope That V Is Not Velocity June 10, […]
