Bond market bear creating gold bull

Bond market bear creating gold bull

By Richard Mills.   Gold is climbing as bond yields rise and the dollar falls, over speculation that China is pulling back on buying US Treasuries and Japan signals it is winding down its quantitative easing program. Meanwhile, US debt [...]
New Year’s Update for Trump Voters

New Year’s Update for Trump Voters

By Robert Reich.   Almost one year in, it’s time for another update for Trump voters on his election promises: 1. He told you he’d cut your taxes, and that the super-rich like him would pay more. You bought it. But his new tax law [...]
The Past is Not Passed: 2017 Spills into 2018

The Past is Not Passed: 2017 Spills into 2018

By Marc Chandler. The New Year may have begun in fact, but in practice, full participation may return only after the release of US employment data on January 5.  The macroeconomic and policy tables have been set, though interpolating [...]
Month-End Leaves Market at Crossroads

Month-End Leaves Market at Crossroads

By Marc Chandler.   Global equity markets are closing another strong month.  The MSCI Asia Pacific Index was little changed on the day, but up 4.3% in October, the 10th consecutive monthly advance.   Europe’s Dow Jones Stoxx [...]
Will ICOs Take Down Wall Street The Way Bitcoin May Take Down Central Banks and Fiat Currencies?

Will ICOs Take Down Wall Street The Way Bitcoin May Take Down Central Banks and Fiat Currencies?

  By Jeff Berwick. I’ve said it many times in the past. Blockchain technology is the biggest evolution since the internet. We’ve seen bitcoin quickly become a challenge to fiat currencies and central banks. We’ve seen [...]
Emerging Markets: Week Ahead Preview

Emerging Markets: Week Ahead Preview

By Marc Chandler. (from my colleague Dr. Win Thin) EM FX ended the week under pressure, as US data points to a rate hike in December and perhaps more in 2018.  FOMC minutes this Wednesday will be closely studied for clues.  US retail [...]
Is Bitcoin a Fraud?

Is Bitcoin a Fraud?

By Barry Ferguson. Is bitcoin a fraud? Jamie Dimon, CEO of JP Morgan Bank thinks so. That’s what he called bitcoin at a bankster meeting yesterday. Funny, if anyone should know fraud when they see it, it is Mr. Dimon.Mr. Dimon’s bank deals [...]
Is Bitcoin a Fraud?

Is Bitcoin a Fraud?

By Barry Ferguson.    Is bitcoin a fraud? Jamie Dimon, CEO of JP Morgan Bank thinks so. That’s what he called bitcoin at a bankster meeting yesterday. Funny, if anyone should know fraud when they see it, it is Mr. Dimon. Mr. Dimon’s [...]
US Tax Reform and the Fed

US Tax Reform and the Fed

By Marc Chandler. Yesterday US President Trump formally launched his campaign for tax reform.  The Big Six (Mnuchin and Cohn for the administration, McConnell, and Hatch from the Senate and Ryan and Brady from the House) had been meeting [...]
NAFTA: Rock, Paper, Scissors

NAFTA: Rock, Paper, Scissors

By Marc Chandler.   The North American Free Trade Agreement is more than 20 years old and should be updated.  This has been clear for several years.  It was anticipated that the upgrade would be part of the Trans-Pacific Partnership, [...]
Great Graphic: Unemployment by Education Level

Great Graphic: Unemployment by Education Level

By Marc Chandler. The US reports the monthly jobs data tomorrow.  The unemployment rate stood at 4.4% in June, after finishing last year at 4.7%.  At the end of 2015 was 5.0%.  Some economists expect the unemployment rate to have slipped [...]
The Dollar may Need more than a Strong Employment Report

The Dollar may Need more than a Strong Employment Report

By Marc Chandler.   The tide of sentiment has turned against the dollar.  The enthusiasm seen in the second part of last year,  when the real broad trade weighted dollar rose in seven of the last eight months have been put into [...]
The War On Cash: Australia Considering Chipping Senior’s Money To Stop Them From Saving

The War On Cash: Australia Considering Chipping Senior’s Money To Stop Them From Saving

By Jeff Berwick.   Ten years ago I wrote on my personal travel blog, “Australia sucks“. In it I detailed, “Australia seems to have more rules than any other country on the planet I have visited. There are signs outlining [...]
Emerging Markets Preview: Week Ahead

Emerging Markets Preview: Week Ahead

By Marc Candler.   (from my colleague Dr. Win Thin) EM FX was mixed Friday to cap off a mostly lower week.  Obviously, we’re seeing a bit of a washout in EM after the hawkish FOMC.  Market was overly complacent and very long EM [...]
Ahead of Central Bank Meetings, Politics Dominates

Ahead of Central Bank Meetings, Politics Dominates

By Marc Chandler.   The US dollar is trading within its pre-weekend range against the major currencies as participants await the central bank meeting starting in the middle of the week.  The Federal Reserve, Bank of England, and [...]
The Opaqueness of US Economic Policy

The Opaqueness of US Economic Policy

  By Marc Chandler.   It is not just the fear that the investigations into Russia’s attempt to influence the US election willdistract from the Trump Administration’s economic program.  It is also that the economic agenda [...]
Markets Adjust to North Korean Threat, Fifth Fall in US Oil Inventories and Trump Drama

Markets Adjust to North Korean Threat, Fifth Fall in US Oil Inventories and Trump Drama

By Marc Chandler.   Investors absorbed a few developments that might have been disruptive for the markets with little fanfare.  North Korea’s ambassador to the UK warned that his country would go ahead with its sixth nuclear [...]
Curtains for Global Financial Regulation

Curtains for Global Financial Regulation

  By Peter J. Wallison.   Last Wednesday was Daniel Tarullo’s last day as a Federal Reserve governor. As the Fed’s point man on banking regulation since 2009, he played a key role in the Obama administration’s attempt to create [...]
Markets Limp into Month End

Markets Limp into Month End

Marc Chandler.   Equity markets are stalling into the end of the month.  MSCI Asia-Pacific Index is snapping a six-day advance, and the week’s gain was sufficient to extend the advancing streak for the fourth consecutive [...]
Two Billion People Depend On Imported Food

Two Billion People Depend On Imported Food

The Daily Journalist   Researchers show empirically: when population pressure increases, food is imported The Earth’s capacity to feed its growing population is limited – and unevenly distributed. An increase in cultivated land [...]