Metals News
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He thinks Staten Island is treasure island. At 6 a.m. this past Saturday, David Hager, 58, and wife Michelle, 51, and two sons, Tyler and Ryan, 21 and 17, started digging in a small park in the forgotten borough. Hager, who lives in Colorado, believes he has correctly deciphered clues pinpointing buried booty on Staten Island from Byron Preiss’s 1982 book ...
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North Korea is literally sending sh*t ballons across the border into South Korea. Hundreds of balloons were spotted Wednesday drifting into South Korean territory, some of them with the word "excrement" written on them. This is because the balloons were loaded with feces and other rubbish as they drifted over the heavily fortified border. Seoul released ...
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Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There is an obvious relationship when you look at the data. Here’s a look at year-over-year wage growth versus trailing twelve-month inflation going back to 1965: chart Wages grow ...
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South Africans voted Wednesday at schools, community centers, and in large white tents set up in open fields in an election seen as their country’s most important since apartheid ended 30 years ago. It could put the young democracy into unknown territory. At stake is the three-decade dominance of the African National Congress party, which led South Africa ...
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post: SWISS NATIONAL BANK'S JORDAN: REASONS TO BELIEVE THE NATURAL RATE OF INTEREST HAS INCREASED OR MIGHT RISEJordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view Ladies and gentlemen I am delighted to be here today in Seoul to address such a distinguished audience. I would like to thank Governor Rhee for inviting me to give this keynote speech. The topic of this year’s Bank of Korea International Conference – ‘The Evolution of the Natural Interest Rate and Its Implications for the Global Economy’ – could not have come at a better time. Monetary tightening over the past two years has lifted policy rates and longerterm interest rates from their historical lows. There are reasons to believe that some of the structural drivers of real interest rates have also changed direction in recent years. A lively debate has emerged on whether real interest rates will return to their pre-pandemic levels, or whether they will remain higher because the natural rate of interest, r*, has increased.1 Over the past years, r* has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank’s monetary policy stance. Therefore, r* estimates help in evaluating different monetary policy options. However, the measurement of r* is subject to high uncertainty. Today I would like to focus mainly on how policymakers can nevertheless make use of r* estimates in practice. In the first part of my remarks, I will briefly review the developments in real interest rates over the past decades. I will then turn to the concept of r* itself. In the second part, I will discuss how policymakers can use r* in practice to assess the monetary policy stance, and in particular, how they can deal with the inherent uncertainty in r* estimates. Here I will draw especially on the Swiss National Bank’s experience.
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Silver prices posted modest losses of 0.32% on Wednesday as US Treasury bond yields edged up, downward pressure on precious metals. Therefore, the XAG/USD retreated after hitting a six-day high of $32.29, and as the Asian session began, it traded at $31.97, almost flat. XAG/USD Price Analysis: Technical outlook: Silver is upward based, but a ‘double top’ ...
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Extending the dismal pace of US economy growth (if not outright contraction) observed in last month's Beige Book, which was validated by the sharp drop in Q1 GDP growth which ...
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China's economy is set to grow 5% this year, after a "strong" first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6% expansion ...
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Companies transporting goods from Asia face costs of as much $10,000 for an urgent full-size shipping container over the next month — about double current spot rates, according to ...
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National economic activity continued to expand from early April to mid-May; however, conditions varied across industries and Districts. Most Districts reported slight or modest growth, while two noted no change in activity. Retail spending was flat to up slightly, reflecting lower discretionary spending and heightened price sensitivity among consumers. Auto sales were roughly flat, with a few Districts noting that manufacturers were offering incentives to spur sales. Travel and tourism strengthened across much of the country, boosted by increased leisure and business travel, but hospitality contacts were mixed in their outlooks for the summer season. Demand for nonfinancial services rose, and activity in transportation services was mixed, as port and rail activity increased whereas reports of trucking and freight demand varied. Nonprofits and community organizations cited continued solid demand for their services, and manufacturing activity was widely characterized as flat to up, though two Districts cited declines. Tight credit standards and high interest rates continued to constrain lending growth. Housing demand rose modestly, and single-family construction increased, though there were reports of rising rates impacting sales activity. Conditions in the commercial real estate sector softened amid supply concerns, tight credit conditions, and elevated borrowing costs. Energy activity was largely stable, whereas agricultural reports were mixed, as drought conditions eased in some Districts, but farm finances/incomes remained a concern. Overall outlooks grew somewhat more pessimistic amid reports of rising uncertainty and greater downside risks post: FED BEIGE BOOK: PRICES INCREASED AT A MODEST PACE OVER THE REPORTING PERIOD. post: FED BEIGE BOOK: OVERALL OUTLOOKS GREW SOMEWHAT MORE PESSIMISTIC AMID REPORTS OF RISING UNCERTAINTY AND GREATER DOWNSIDE RISKS. post: FED BEIGE BOOK: NATIONAL ECONOMIC ACTIVITY CONTINUED TO EXPAND FROM EARLY APRIL TO MID-MAY. HOWEVER, CONDITIONS VARIED ACROSS INDUSTRIES AND DISTRICTS. post: FED'S BEIGE BOOK: EMPLOYMENT ROSE AT A SLIGHT PACE OVERALL. EIGHT DISTRICTS REPORTED NEGLIGIBLE TO MODEST JOB GAINS,AND THE REMAINING FOUR DISTRICTS REPORTED NO CHANGES IN EMPLOYMENT.
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post: SWISS NATIONAL BANK'S JORDAN: REASONS TO BELIEVE THE NATURAL RATE OF INTEREST HAS INCREASED OR MIGHT RISEJordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view Ladies and gentlemen I am delighted to be here today in Seoul to address such a distinguished audience. I would like to thank Governor Rhee for inviting me to give this keynote speech. The topic of this year’s Bank of Korea International Conference – ‘The Evolution of the Natural Interest Rate and Its Implications for the Global Economy’ – could not have come at a better time. Monetary tightening over the past two years has lifted policy rates and longerterm interest rates from their historical lows. There are reasons to believe that some of the structural drivers of real interest rates have also changed direction in recent years. A lively debate has emerged on whether real interest rates will return to their pre-pandemic levels, or whether they will remain higher because the natural rate of interest, r*, has increased.1 Over the past years, r* has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank’s monetary policy stance. Therefore, r* estimates help in evaluating different monetary policy options. However, the measurement of r* is subject to high uncertainty. Today I would like to focus mainly on how policymakers can nevertheless make use of r* estimates in practice. In the first part of my remarks, I will briefly review the developments in real interest rates over the past decades. I will then turn to the concept of r* itself. In the second part, I will discuss how policymakers can use r* in practice to assess the monetary policy stance, and in particular, how they can deal with the inherent uncertainty in r* estimates. Here I will draw especially on the Swiss National Bank’s experience.
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The Conference Board Consumer Confidence Index® rose in May to 102.0 (1985=100) from 97.5 in April (a slight upward revision). The Present Situation Index—based on consumers' ...
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Silver prices posted modest losses of 0.32% on Wednesday as US Treasury bond yields edged up, downward pressure on precious metals. Therefore, the XAG/USD retreated after hitting a six-day high of $32.29, and as the Asian session began, it traded at $31.97, almost flat. XAG/USD Price Analysis: Technical outlook: Silver is upward based, but a ‘double top’ ...
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Weak demand for US 7-year treasuries sent Wall Street indices lower on Wednesday, on concerns that funding the US deficit will drive up yields alongside ‘higher for longer’ Fed rates. And that manifested with a higher US yields curve and a stronger USD, which enjoyed at strongest daily performance in over a month. This week I have warned of a potential ...
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RoboMarkets: upcoming changes to the trading schedule (the Memorial Day in the US and the Late May Spring Bank Holiday in the UK)22.05.2024 / 08:00Dear Clients and Partners, Please note the upcoming adjustments to the trading schedule. Holiday: the Memorial Day in the US and the Late May Spring Bank Holiday in the UK Dates: 27/05/2024 - 28/05/2024 This ...