Rising Non-Bank Reliance Could Amplify Financial Shocks for Big Banks
Non-bank financial institutions are increasingly posing risks to America’s big banks, as highlighted by economists in a New York Fed blog post. During market stress, non-banks’ demand for liquidity from banks can amplify financial shocks, potentially necessitating mass intervention by authorities. With non-banks operating under less stringent regulations, the interconnectedness between banks and non-banks has […]
Gold Eyes Second Weekly Gain Amid U.S. Rate-Cut Hopes
Gold prices are set for a second consecutive weekly gain, driven by optimism over potential U.S. interest-rate cuts following recent weak economic data. Spot gold rose 0.3% to $2,366.83 per ounce, reaching a two-week high, and has gained over 1% this week. U.S. gold futures increased by 0.5% to $2,380.80. Softer economic indicators, including a […]
US PMIs Surprisingly Surge Despite Plummeting ‘Hard Data’, EU PMIs Slump
US PMIs Surprisingly Surge Despite Plummeting ‘Hard Data’, EU PMIs Slump After this morning’s ugly picture across European PMIs, preliminary June US PMIs were also expected to decline modestly, but remain in expansion (above 50) for both manufacturing and services. But, in the face of puking US hard macro data, the soft survey data surprised […]
Jamie Dimon Warns of U.S. Debt Crisis as Nation Adds $2.1 Trillion in Three Months
America’s escalating public debt has reached $34.7 trillion, and experts like Jamie Dimon and Jerome Powell are alarmed by the rapid increase, with an additional $2.1 trillion added in just three months. The Congressional Budget Office (CBO) reports the deficit will rise from $1.5 trillion this year to $2.6 trillion by 2034, with the debt-to-GDP […]
A Fundamental Shift Higher In Valuations
A Fundamental Shift Higher In Valuations Authored by Lance Roberts via RealInvestmentAdvice.com, Over the last decade, there has been an ongoing fundamental debate about markets and valuations. The bulls have long rationalized that low rates and increased liquidity justify overpaying for the underlying fundamentals. For the last decade, that view appears correct as zero interest […]
After Internal Revolt, Robert Winnett Will Not Join WaPo As Editor
After Internal Revolt, Robert Winnett Will Not Join WaPo As Editor On Sunday, an internal revolt over incoming Washington Post editor Robert Winnett spilled over into the public – as the paper published a scathing article about his shady past in the UK – including stories that were published based on stolen records. Robert Winnett […]
NJ Transit, Amtrak Issues Spark Travel Nightmare During Rush Hour
NJ Transit, Amtrak Issues Spark Travel Nightmare During Rush Hour NJ Transit riders are facing a travel nightmare this Friday morning: Rail service in and out of New York’s Penn Station has been abruptly suspended due to overhead wire issues. “Rail service is suspended into and out of Penn Station New York due to AMTRAK […]
Appeals Court Denies Steve Bannon’s Emergency Bid To Avoid Prison
Appeals Court Denies Steve Bannon’s Emergency Bid To Avoid Prison Authored by Zachary Stieber via The Epoch Times, A federal appeals court late on June 20 denied Steve Bannon’s emergency request to delay his prison sentence. In a split ruling, a panel of the U.S. Court of Appeals for the District of Columbia Circuit said […]
Futures Fall, Tech Rally Fades Ahead Of Record $5 Trillion OpEx
Futures Fall, Tech Rally Fades Ahead Of Record $5 Trillion OpEx US futures were slightly lower, with tech companies indicating declines as the AI-fueled rally showed signs of fading, even as tech funds had their largest weekly inflow on record, which Bank of America’s Michael Harnett said hints at “AI capitulation.” As of 8:00am ET, […]
Ukrainian Drone Swarms Target Four Russian Refineries In Major Attack
Ukrainian Drone Swarms Target Four Russian Refineries In Major Attack Brent crude futures were flat on Friday amid rising geopolitical tensions in Eastern Europe, which seems counterintuitive as escalating war risks could result in supply disruptions. In the overnight hours, four refineries in southern Russia were targeted, with one facility damaged, in one of the largest drone swarm attacks […]