WHOOSH, Dollar’s Purchasing Power Goes to Heck as Services Inflation Takes Off, Food Spikes, Energy Explodes, But Used Cars Finally Stall

Sep 30, 2022

The Fed is still pumping fuel on the fire. By Wolf Richter for WOLF STREET. The Consumer Price Index today – a measure of how fast the dollar and everything denominated in dollars, including labor, lost its purchasing power – is a horror show, the likes of which the majority of Americans have never experienced in their lives. Reality on the ground is even worse for many people because CPI is slow to pick up the red-hot housing inflation as we’ll see in a moment, and because CPI struc ...read more

Breathtaking Yield Curve Spread Collapse Including 2-10 and 3-30 Inversions

Sep 30, 2022

Massive flattening: The 2-year to 10-year and the 3-year to 30-year spreads inverted today flashing still more recession warnings. Yield curve data from New York Fed, chart by Mish Breathtaking Flattening Speed Includes Major Inversions Major portions of the yield curve are now inverted. This is a result rates rising much faster at the short end of the curve than the long end. And today, we had a bond rally (yields declining) at the extreme long end coupled with risi ...read more

(VIDEO) Could Recent Inflation Lead to Recession?

Sep 30, 2022

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Viktor Orban Is Set for a Fourth Term as Hungary’s Prime Minister. That Could Be a Boost for Putin

Sep 30, 2022

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Report: High Inflation Driving Seniors Back to Work

Sep 30, 2022

Report: High Inflation Driving Seniors Back to Work Isaac Nuriani    | Apr 15, 2022 Relentless inflation pressures demand seniors keep working. Higher prices mean retirement will become a “luxury” says one older worker. Listen to the Article Digest Your browser does not support the audio element. Inflation simply refuses to get off of our backs. As you likely know by now, the year-over-year consumer price index (CPI) for March grew at 8.5%. The last time we saw CPI ...read more

Biden Plan Would Release a Million Barrels of Oil a Day From Reserve

Sep 30, 2022

March 30, 2022, 9:37 p.m. ET March 30, 2022 March 30, 2022 A Strategic Petroleum Reserve site in Texas. Credit... F. Carter Smith/Polaris, for The New York Times WASHINGTON — President Biden is considering a plan to release one million barrels of oil a day from the Strategic Petroleum Reserve for as long as 180 days, a move that would add a large amount of oil to the global market, according to a person familiar with the Whi ...read more

Japan to ban Russia-bound exports of gold from April 5 - MOF - Reuters.com

Sep 30, 2022

A man in a bicycle drives past containers at an industrial port in Tokyo, Japan, May 22, 2019. Picture taken on May 22, 2019. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com PM Kishida follows G7 call for more Russia sanctions Latest ban on Russia-bound gold exports takes effect April 5 TOKYO, March 29 (Reuters) - Japan will ban the shipment to Russia of precious metals, especially gold, in response to its invasion of Ukraine, the Ministry of Finance sai ...read more

The 2021 Creatures of Goldman Sachs: its IPOs, SPACs, Direct Listings Are Imploding after Bonuses Spiked to a Record

Sep 30, 2022

They sure made hay while the sun was shining. By Wolf Richter for WOLF STREET. One of Goldman Sachs’ many splendid 2021 creatures, the American Depositary Receipt of Chinese ride-hailing company DiDi Global plunged 18% today, to $2.01. The ADR is now down 89% from its peak right after its IPO at the end of June last year, of which Goldman Sachs was the lead underwriter (data via YCharts): The company announced two things today, nine months after its IPO: It plans to delist its share ...read more

Janet Yellen Warns China on Russia and Creating a Bipolar Global Financial System

Sep 30, 2022

Let's tune into a speech by Treasury Secretary Janet Yellen in which she warned China about cooperating with Russia. Janet Yellen image clip from Youtube video YouTube Video Clip Those wishing to watch the Full Presentation can do so at the preceding link. Video Statements of Note She warned those countries that were still "sitting on the fence, perhaps seeing an opportunity to gain by preserving their relationship with Russia and backfilling the void left by othe ...read more

Breakingviews - On the Ukraine refugee crisis, watch Canada - Reuters

Sep 30, 2022

Refugee Gallina and her son Valentino from Ukraine, fleeing Russia's invasion of Ukraine, arrive in Goerlitz via Poland, on their way to Leipzig, at the central station in Goerlitz, Germany, March 22, 2022. Register now for FREE unlimited access to Reuters.com TORONTO, March 22 (Reuters Breakingviews) - Canada offers Western countries a path towards handling the fallout from the Ukraine refugee crisis. The country that claims to be the world’s second-largest Ukrainian diaspora has take ...read more