Metals News
-
British regulators on Wednesday dished out a combined £61.6 million ($79 million) in fines to U.S. investment bank Citi for failings in its trading systems and controls. The fines were issued by the Prudential Regulation Authority and the Financial Conduct Authority, whose investigation focused on the period between April 1, 2018, and May 31, 2022. Citi ...
-
Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals on Wall Street, has died at the age of 87. His daughter Marianne Boesky told The New York Times on Monday that he died in his sleep, and his wife confirmed Boesky’s death to The Washington Post. No cause of death was ...
-
Have we mentioned, that we love history? Probably more than just once. What we like on the academic studies which use longterm data is that they offer a bird-like view on the financial markets. The daily noise and ebbs and flows retreat into the background and macroeconomic and geopolitical trends emerge. This top-down analysis helps to design the asset ...
-
Inflation in advanced economies remained essentially stable for the third straight month, at around 2.7% yoy. The stickiness of advanced economy inflation so far this year has reduced the likelihood of rapid policy rate cuts by central banks in 2024, which could negatively impact growth rates in 2025 and 2026. Trends in advanced economies were mixed in Q1 – ...
-
Platinum has rallied strongly in the last month. By the end of last week, the platinum price had broken out of its trading range of the last year. Starting from nearly $900/oz in late April, it reached a 12-month close of $1,077/oz. The platinum and palladium prices were almost equal but now platinum has regained its premium, with its price momentum aided ...
-
Restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation. Annual consumer price inflation is expected to return to within the Committee’s 1 to 3 percent target range by the end of 2024. The welcome decline in inflation in part reflects lower inflation for goods and services imported into New ...
-
UK inflation data due on Wednesday is expected to fall close to the government’s 2% target. Almost three years on from the start of price spikes, how has the economy changed? ...
-
"If a tree falls in the forest and no one is around to hear it, does it make a sound?" is an old philosophical thought experiment. There is a monetary policy equivalent right now: ...
-
It’s now two years since the RBA first started to raise interest rates, resulting in the biggest tightening cycle since the late 1980s. Rates have gone much higher and stayed high ...
-
Restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation. Annual consumer price inflation is expected to return ...
-
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 3.0% in the 12 months to April 2024, down from 3.8% in the 12 months to March. On a monthly ...
-
It is a great pleasure to be here at this event, hosted by the LSE’s Financial Markets Group in honour of Charles Goodhart. This evening, I am going to talk about central bank balance sheets and in particular the Bank of England’s balance sheet. An esoteric topic perhaps, but an important one, now more than ever. And it is a topic on which Charles has written extensively. Charles worked at the Bank for nearly two decades, of course, before his distinguished career as a professor here at the London School of Economics. His article “The importance of money”, published in the Bank’s Quarterly Bulletin in 1970 and available on the Bank of England’s website, was a milestone in the study of the predictability of money demand.footnote[1] At the time this was an important issue in debates over monetary control mechanisms and the relative merits of monetary ‘rules’ and policy ‘discretion’, a debate he masterfully summarised in his 1975 book on “Money, Information and Uncertainty”. In this and later work, Charles brought his deep understanding of the nature of financial markets, of banking and of monetary assets to bear, the historical perspective always present. In his 1988 book “On the Evolution of Central Banks” he discussed “how the role and functions of Central Banks have evolved naturally over time, and play a necessary part within the banking system”. Fast forward two more decades – acr post: BoE’s Bailey: We Think the Central Bank Balance Sheet Will Remain Larger Than Before the Financial Crisis Though Not as Large as Today post: BANK OF ENGLAND'S BAILEY: A RANGE OF 345-490 BLN STG IS NOT A BAD STARTING POINT FOR CENTRAL BANK BALANCE SHEET || BANK OF ENGLAND'S BAILEY: REPO PORTFOLIO CAN OFFER A RELIABLE AND FLEXIBLE SOURCE OF RESERVES AS LARGELY ADDITIONAL HIGH-QUALITY LIQUID ASSETS TO THE SYSTEM
-
Silver's price advanced 0.47% on Tuesday but remains trading below a significant eight-year high reached on Monday at $32.51. At the time of writing, the XAG/USD is at $31.96 after hitting a daily low of $31.80. The grey metal remains upward biased even though it failed to crack the year-to-date (YTD) high of $32.51. Although the Relative Strength Index ...
-
Sr. Strategist James Stanley shares charts and highlights the themes and scenarios he's watching across macro markets.
-
Gold prices hit an all-time high of $2,448.80/oz. on April 12, 2024, on the back of hotter-than-expected NFP, sticky inflation and rising geopolitical risk. These factors attracted inflow of funds as shown by increasing managed money long positions to around two-year high. Despite the pullback towards the end of the month as profit-taking and U.S. dollar ...