Conference Board Consumer Confidence Rebounds In May… As Inflation Expectations Hit 2024 Highs
Conference Board Consumer Confidence Rebounds In May… As Inflation Expectations Hit 2024 Highs After dropped near the lowest level in eleven years last month, the Conference Board Consumer Confidence expectations index soared in May from 68.8 (upwardly revised from 66.4) to 74.6. The Present Situation rose from 140.6 (revised down from 142.9) to 143.1. The […]
Key Events This Holiday-Shortened Week: PCE, GDP And More Fed Speakers
Key Events This Holiday-Shortened Week: PCE, GDP And More Fed Speakers All roads this week point towards the April US core PCE print on Friday which in MoM terms is expected to edge down from +0.32% to +0.26%, which would be the lowest monthly increase of 2024. As DB’s Jim Reid notes, you don’t need […]
Greek-Owned Bulk Carrier Taking On Water After Missile Strike In Red Sea
Greek-Owned Bulk Carrier Taking On Water After Missile Strike In Red Sea According to Bloomberg, citing maritime security firm Ambrey and a US defense official, a bulk carrier flying under the Marshall Islands flag was attacked in the southern Red Sea on Tuesday. This incident occurred as Israeli forces advanced further into the south of Gazan […]
Ukraine Confirms France Will Send Military Trainers To Its Soil
Ukraine Confirms France Will Send Military Trainers To Its Soil Ukraine’s military says it is ‘welcoming’ French trainers in Ukraine, in new remarks which strongly suggest that for the first time France is deploying its troops to Ukraine soil. This marks the beginning of major ‘boots on the ground’ escalation in a formal, public capacity […]
Billionaire Investor Palihapitiya: Misleading GDP Components Mask Economic Downturn
Billionaire venture capitalist Chamath Palihapitiya claims the US economy is experiencing a “quasi-synthetic recession,” despite a 1.6% GDP rise last quarter. On the All-In Podcast, he suggested that over half of Americans perceive a recession due to potentially misleading GDP components, which include consumer spending, corporate and government expenditures, and exports.
Fed's Kashkari Stresses Need for Significant Inflation Progress Before Rate Cuts
Minneapolis Federal Reserve Bank President Neel Kashkari stated that the Fed should see significant progress on inflation before considering interest rate cuts. In a CNBC interview, he emphasized the need for several months of positive inflation data and mentioned the possibility of further rate hikes if inflation does not decrease. Although Kashkari initially anticipated two […]
Mt. Gox Moves $9.6 Billion Worth Of Bitcoin – Are Creditors Finally Being Repaid?
Mt. Gox Moves $9.6 Billion Worth Of Bitcoin – Are Creditors Finally Being Repaid? Collapsed cryptocurrency exchange Mt. Gox moved $9.62 billion worth of Bitcoin into a new wallet, raising hopes among creditors. As Zoltan Vardai reporets at CoinTelegraph.com, the 141,686 Bitcoin was consolidated into wallet “1Jbez” from several other cold wallets associated with Mt. […]
Analysts Predict Further Gains for Precious Metals Amid Strong Chinese Demand
Gold, silver, and copper have recently pulled back from their record highs but remain close to those levels, with analysts predicting further price increases over the next year. Gold prices, currently at $2,351.3 per ounce, have been supported by a weaker U.S. dollar, lower Treasury yields, and strong Chinese demand, which drove a significant price […]
US Home Prices Reached New Record High In March, Despite Soaring Rates
US Home Prices Reached New Record High In March, Despite Soaring Rates Home prices in America’s 20 largest cities rose for the 13th straight month in March (according to the latest data from S&P CoreLogic – Case Shiller – data today), up 0.33% (more than the expected 0.3%) with the 0.61% MoM gain In Febriary […]
Young Borrowers Struggle as Credit Card Debt Hits 14-Year High
Credit card debt is becoming a growing concern for the economy, with severe delinquencies rising to 10.7% in the first quarter, the highest in 14 years, as reported by the Federal Reserve Bank of New York. Younger borrowers are particularly struggling as interest rates hit a 23-year high. Total credit card debt increased to $1.12 […]