April 28, 2017 – Weekly Wrap-Up with Eric Sprott

April 28, 2017 This week, Eric Sprott discusses the stalling U.S. economy, the surging demand for physical gold and the recent decline in the mining shares. https://soundcloud.com/sprottmoney/smn-42817 Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities. Since 2010, […]

Chicago PMI Bucks Recent 'Soft' Data Trend, Jumps To 27-Month Highs

With 'soft' survey data having plunged to 10-week lows, as 'animal spirits' fade… Chicago Purchasing Managers' Survey saved the day with a resurgent 'bucking the trend' leap to 58.3 – the highest since Jan 2015.   At the high end of all estimates – forecast range 54 – 58.4 from 38 economists surveyed…   Under […]

You Got Trumped: Bannon banned and Cohn-Kushner establishment advance

 The following article by David Haggith was first published on The Great Recession Blog:  President Trump, how’s that swamp drainage project going?   Another big move in the last couple of weeks has been the sidelining of Trump’s chief strategist Steve Bannon as the Goldman-Sachs group wins more influence in the White House. Bannon has been the guardian […]

30Y Treasury Yield Jumps Near 3.00% Despite Dismal GDP Growth

Nothing says sell bonds like the worst quarterly growth for a Fed rate hike since 1980…   but that's what is happening… Here's why – Treasuries under pressure after 1Q employment cost index rose 0.8%, largest gain since Q1 2007, a sign of inflationary wage pressures as both pay and benefits accelerated. Source: ZeroHedge

The Great “Sell In May” Hoax — Revealed By Ex-Hedge Fund Manager

This post The Great “Sell In May” Hoax — Revealed By Ex-Hedge Fund Manager appeared first on Daily Reckoning. “I gotta hop on a plane, Josh.” (He couldn’t even remember my name.) “I’m off for a round of golf with the new Falcon’s quarterback. Remember, just sell in May and go away!” Just like that, […]

South Africa Imports

Imports to South Africa declined 9.7 percent year-on-year in February of 2017 to ZAR 82.6 billion, as purchases went down for: machinery & electronics (-18 percent), chemical products (-10 percent), plastic & rubber (-22 percent), base metals (-15 percent), vegetable products (-25 percent) and vehicles & transport equipment (-6 percent). Imports came mainly from China […]

South Africa Exports

Exports from South Africa rose 9.4 percent year-on-year to ZAR 87.8 billion in February of 2017 mainly driven by higher sales of vehicles & transport equipment (79 percent), machinery & electronics (25 percent), base metals (10 percent), plastics & rubber (33 percent) and prepared foodstuff (17 percent). Major destinations for exports were China (8.6 percent […]

South Africa Balance of Trade

South Africa posted a trade surplus of ZAR 5.22 billion in February of 2017 compared to an upwardly revised ZAR 11.22 billion gap in January. Exports advanced 9.4 percent, due to higher sales of vehicles & transport equipment and machinery & electronics while imports went down 9.7 percent, mainly due to lower purchases of machinery […]

Frontrunning: April 28

World stocks pause near record highs (Reuters) ‘If there’s a shutdown, there’s a shutdown,’ Trump says (Reuters) Trump’s Tax Plan Hits First Land Mine: Blue State Republicans (BBG) Congress to Vote on Stopgap Bill to Keep Government Open (WSJ) Tillerson Seeks to Boost Pressure on North Korea at UN Meeting (BBG) Why Trump Decided to […]

Regulation fears may impede silver manipulation

Fear of regulation may impede bank’s from manipulating London’s silver benchmark New regulations in 2018 have spooked bullion banks and silver fix operators Lack of liquidity in silver fix auction has lead to high volatility in the market Silver benchmark has strayed from spot price multiple times since 2016 No new silver benchmark operator lined […]

Fear Takes A Holiday As VIX Index Falls To 3-Year Low

The VIX Index – a widely followed measure of US stock market volatility — slid to a three-year low on Thursday (Apr. 28), suggesting that investors are unusually serene these days when it comes evaluating the outlook for risk. In fact, investor sentiment has almost never been calmer, according to the VIX. The all-time low […]

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday’s whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, and brought Jeff Bezos “this close” to overtaking Bill Gates as the world’s richest man, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are […]

Market Report: French election prompts correction

Gold and silver were sold down in the futures market this week, after the first round of the French presidential election last Sunday. We are led to believe the hedge funds were bullish of precious metals because Marine Le Pen had a good chance of becoming president in the second round. This was never, ever […]

The Issues Americans Think Are Worth A Government Shutdown

As the deadline for U.S. federal budget authorization approaches, this infographic highlights the issues that people think are important enough to justify a government shutdown. You will find more statistics at Statista This infographic draws data from a Morning Consult/POLITICO survey. As Statista's Martin Armstrong notes, although 67 percent of respondents said Congress should do everything it can […]

South Africa Money Supply M3

Money Supply M3 in South Africa decreased to 3194490 ZAR Million in March from 3201694 ZAR Million in February of 2017. Money Supply M3 in South Africa averaged 630045.53 ZAR Million from 1965 until 2017, reaching an all time high of 3206995 ZAR Million in January of 2017 and a record low of 4796 ZAR […]

South Africa Private Sector Credit

South Africa’s private sector credit rose 5.26 percent year-on-year in February of 2017, following a marginally revised 5.52 percent rise in January while markets expected a 5.21 percent growth. Meanwhile, expansion in the broadly defined M3 measure of money supply went up 6.63 percent year-on-year compared with 7.91 percent previously and below consensus of a […]

South32 is raking it in as cash balances hit US$1.5 billion

South32’s net cash balance rose by US$645m during the March quarter to hit $1.5bn at the end of March and the group has been running an on-market share buy-back scheme since April 19 as part of the $500m capital management scheme announced in March. In its March quarterly report published today the group announced that […]