Retail Sales Edge Up 0.1% in May, Falling Short of Forecasts
US retail sales rose by 0.1% in May, missing expectations due to lower gasoline prices affecting service station receipts. This follows a revised 0.2% drop in April. Economists had forecast a 0.3% increase. The trend shows slowing sales growth as households focus on essentials amid higher prices and interest rates. Banks are tightening credit access, […]
Falling Retail Sales Drive Treasury Yields Down, September Rate Cut Likely
Treasury yields fell following weaker-than-expected US retail sales data, increasing expectations for Federal Reserve interest rate cuts this year. The two-year note’s yield dropped by up to 6 basis points to 4.70%. Market odds of a rate cut by September rose to 68%, with a full cut anticipated by November. The weak retail sales and […]
Dramatic Footage Shows First Houthi Kamikaze Drone Boat Strike On Bulk Carrier
Dramatic Footage Shows First Houthi Kamikaze Drone Boat Strike On Bulk Carrier Unconfirmed footage has emerged on X showing what appears to be the commodity-hauling bulk carrier “Tutor” under attack by a drone boat, allegedly controlled remotely by Iran-backed Houthi rebels. If verified, this incident is the first known drone boat attack on a commercial vessel […]
Central Bankers Plan Record Increase in Gold Reserves, Survey Finds
A record percentage of central bankers plan to increase their gold holdings, according to the World Gold Council’s annual survey. The survey, which included 70 central bankers, revealed that 29% intend to boost their gold reserves in the next year, the highest level since 2018. This trend follows significant gold purchases in the past two […]
Global Central Banks Favor Gold Over Dollar, Expecting Increased Reserves
Central banks worldwide are expected to increase their gold reserves this year amid growing pessimism about the US dollar, according to a World Gold Council report. Over 80% of surveyed reserve managers anticipate higher global gold holdings, with nearly 30% planning to add to their reserves. The shift is driven by economic and political uncertainties […]
US Industrial Production Surges In May, Biggest MoM Jump Since Jan 2023 As ISM Tumbles
US Industrial Production Surges In May, Biggest MoM Jump Since Jan 2023 As ISM Tumbles US Industrial Production surged 0.9% MoM in May (triple the 0.3% MoM expected and well up from the unchanged MoM print in April). That is the biggest MoM jump since Jan 2023 and lifted the YoY print to +0.39%… Source: […]
Biden Officials To Attend Bitcoin Roundtable In DC: Leaked Report
Biden Officials To Attend Bitcoin Roundtable In DC: Leaked Report U.S. Congressman Ro Khanna, representing California’s 17th congressional district, is set to host a Bitcoin and blockchain roundtable in Washington D.C. in early July, according to a private email sent by Khanna’s Office, seen by Bitcoin Magazine. Bitcoin Magazine’s Nik Hoffman reports that Khanna’s Office described the upcoming meeting […]
Only 28% Of The Public Has “High Confidence” In Higher Education; New Poll Finds
Only 28% Of The Public Has “High Confidence” In Higher Education; New Poll Finds Authored by Jonathan Turley, A new poll conducted by NORC at the University of Chicago (commissioned by the Foundation for Individual Rights and Expression) shows that only 28% of Americans have a lot of trust in higher education. Academia has continued to […]
Retail Sales Disappoint In May, April Revised Even Lower…
Retail Sales Disappoint In May, April Revised Even Lower… BofA’s practically omniscient analysts were more in line with consensus this month for their US retail sales forecast, with a return to growth expected in May’s data (after a less enthusiastic April print). Notably, however, consensus and BofA were over optimistic as the headline retail sales […]
Consumer Survey Shows Rising Bullishness
Consumer Survey Shows Rising Bullishness Authored by Lance Roberts via RealInvestmentAdvice.com, The latest consumer survey data from the New York Federal Reserve had interesting data. “The New York Fed’s latest consumer survey found that expectations that stocks will be higher in the next 12 months rose from 39% to 41% since last month’s reading. At the same […]