Warning Signs for U.S. Economy as FedEx Reports Persistent Freight Weakness
In a troubling indicator for the overall U.S. economy, FedEx has reduced its profit outlook for the third straight quarter. CEO Raj Subramaniam highlighted that weakening demand is hurting their higher-margin business-to-business shipments, with the freight division suffering the most from fewer shipments and lighter loads. This persistent industrial slowdown…
SNB Chief Defends Currency Policy: “We Are Not Manipulators”
The Swiss National Bank (SNB) Chairman Martin Schlegel confirmed the bank will continue using foreign currency market interventions when necessary, while rejecting accusations of currency manipulation. Schlegel explicitly stated “Switzerland is not a currency manipulator” while maintaining that the SNB would continue utilizing currency interventions as a legitimate monetary policy…
Maritime Industry Warns USTR’s China Port Fees Could Sink U.S. Economy
Maritime Industry Warns USTR’s China Port Fees Could Sink U.S. Economy By Mike Schuler of gCaptain Major maritime industry stakeholders are voicing strong opposition to the U.S. Trade Representative’s proposed Section 301 actions targeting Chinese-built and operated vessels, warning of potentially catastrophic effects on U.S. trade and consumer prices. The USTR’s proposed measures aim to […]
$100 Trillion and Climbing: World Faces Mounting Debt as Refinancing Risks Grow
Global debt has exceeded $100 trillion, with governments and companies paying the highest interest costs in 20 years. The Organisation for Economic Co-operation and Development (OECD), an international organization of 38 member countries that works to shape policies for better lives, reports that its member governments now spend 3.3% of…
European Chaos Is Back: EU Leaders Fail To Agree On Aid To Ukraine As German Debt Bonanza Blows Up PIGS Yields
European Chaos Is Back: EU Leaders Fail To Agree On Aid To Ukraine As German Debt Bonanza Blows Up PIGS Yields For a brief moment there, it seemed that the performative threat of an “imminent invasion” by Putin would make the European Union less dysfunctional than it always is (and indeed, when it comes to […]
Gold Could Hit $3,500 This Year as Citi Raises Price Targets on Strong Demand
Citi Research has increased its 3-month gold price target from $3,000 to $3,200 per ounce, driven by strong demand from official sectors and exchange-traded funds. Their bullish outlook suggests gold could reach $3,500 per ounce by year-end if investors seek protection against potential US economic stagflation or a hard landing.
Asian Gold Demand Crumbles Under High Prices, Indian Imports Hit 20-Year Low
Record gold prices are significantly impacting the Asian market, with India seeing discounts reach an eight-month high of $41 per ounce as demand plummeted. Domestic Indian gold prices surged to an unprecedented 89,796 rupees per 10 grams, climbing more than 15% since the beginning of the year. This price surge…
Gold Takes a Breather After Record Run, Still Set for Weekly Gain
Gold pulled back 0.5% to $3,030.81 on Friday as investors took profits after three straight record highs. The retreat was partly due to a stronger U.S. dollar (up 0.2%), which made gold more expensive for foreign buyers. U.S. gold futures also dipped 0.2% to $3,037.70. Despite this decline, gold remains…
Precious Metal Rally Continues: Gold Approaches $3,060 Amid Trade Tensions
Gold continues to trade near its all-time high of $3,057.49 per ounce as market instability grows over potential trade war escalation. With President Trump’s administration preparing to announce new tariffs on April 2, investors are flocking to gold as a safe haven asset. The precious metal has climbed 16% this…
Fed Slows Treasury Runoff to $5 Billion Monthly Until Debt Ceiling Resolution
Starting April 1, the Federal Reserve will slow down how quickly it shrinks its balance sheet. It will reduce the monthly cap on Treasury securities that mature without being replaced from $25 billion to just $5 billion, while keeping the mortgage-backed securities cap at $35 billion. Chair Powell noted that…