Blog Thumbnail 1 1024x576 SkFVIE

Is The Bull Market Over For Gold?Stephen Flood

Gold has not made new highs in many months. Gold peaked last year at US$2067 on August 6. The 7 month down leg of more than 18% as been deep enough and long enough that some commentators are now saying that the bull market has now turned to a bear market for gold.  Losing faith […]

hqdefault uhfFOH

MARKETS A LOOK AHEAD: Critical Updates. By Gregory MannarinoGregory Mannarino

Get YOUR Copy Of My New Book “A (Not) So Random Walk On Wall Street,” Plus FREE downloads, charts, A CHAT ROOM, More! Available right on my website. Click here: PLEASE SUPPORT MY WORK. Click: Get My FREE NEWSLETTER Which Includes TradeAlerts! And Private Messages. Click HERE: *Stock trading involves financial risk. […]

image wN58OQ

[Featured Article] Beware of Trump’s Legacy to Political CultureStephen Flood

This weeks feature article is by Patrick Smyth, Europe Editor of The Irish Times. I have been intrigued in the last few days by a number of insightful international press columns dissecting what Donald Trump has meant to his country’s political culture: enduring legacies that go beyond his toxic politics. Other damage – the product of significant […]

COVID Winter Pixabay 560x315 84dQtK

This Is Going To Be The Worst Winter For The U.S. Economy In Modern Times

We already knew that this was going to be the worst winter for the U.S. economy since the Great Depression of the 1930s, but now a new round of lockdowns threatens to rip the guts out of hundreds of thousands of small businesses all around the country.  As I write this article, 33 million people […]

US Yield curve 2020 06 04

Treasury Market Smells a Rat: Steepest Yield Curve Since 2017 Despite QE

Market worrying about a phenomenon much worse than stagflation? By Wolf Richter for WOLF STREET. The 30-year Treasury yield has been rising for six days in a row, closing on Thursday at 1.61%, up from 1.41% on May 29, and up from 1.17% on April 20, and the highest since March 19, when the Fed was unleashing its […]

us CMBS delinquency rate 2020 05

CMBS Delinquency Rate Spikes by Most on Record

Commercial Mortgage-Backed Securities backed by hotel and mall properties get hit the hardest. Mall-REIT CBL failed to make bond interest payment yesterday. By Wolf Richter for WOLF STREET. The delinquency rate for commercial mortgage-backed securities (CMBS) spiked from 2.29% in April to 7.15% in May by loan balance, according to Trepp today, which tracks securitized mortgages for institutional […]

US Fed Balance sheet 2020 04 23 total assets

Fed Cut Back on Helicopter Money for Wall Street & the Wealthy

Tapered QE-4 Further, Still Hasn’t Bought Junk Bonds or ETFs, Was Just Jawboning. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet rose by $205 billion during the week ending April 22, to $6.57 trillion. Since the week ending March 11, when the bailout of the Everything Bubble and its holders began, the Fed […]

US weekly economic index WEI 2020 04 21

How Far Will the U.S. Economy Plunge During Lockdown?

“Three times deeper than the Great Recession?” By Wolf Richter for WOLF STREET. No one has ever been through an economy where enormous shifts have occurred, from one day to the next, shutting down part of the economy but also generating sectors that are vastly more vibrant than ever before. Monthly or quarterly economic indicators leave us in […]

US Fed Balance sheet 2020 04 16 total assets

Fed Massively Tapered QE-4. Hasn’t Bought Any Junk Bonds, Was Just Jawboning

Helicopter Money for Wall Street & the Wealthy: $2.06 Trillion in 5 Weeks. Regular folks, forget it. By Wolf Richter for WOLF STREET. Since the Fed announced its market bailouts and interventions on March 15, it has printed and handed to Wall Street $2.06 trillion. But here is the thing: This was front-loaded, and over the past two […]

2020 04 11 covid 19 death top US

COVID-19 vs. the Economy: When is it Time to Reboot?

What’s an Acceptable Risk Level? ALARA (“As Low As Reasonably Achievable”) to the rescue? By Wisdom Seeker, a WOLF STREET Commenter with a physical sciences Ph.D., San Francisco Bay Area: As I wrote last week, we’ve been bending the curve, but now what?  Shelter-in-Place orders have slowed the exponential growth of the virus,  buying us time and hope. But COVID-19 […]

2020 04 04 coronavirus curve SF LA SK Italy wisdom seeker

The Fight Against COVID-19: “Bending the Curve” & Then What?

Eradicate the virus — without a vaccine? Manage infection rates to let the population “build immunity through suffering” until a vaccine is available? How can we revive the economy without risking thousands of deaths in fresh outbreaks? By Wisdom Seeker, a WOLF STREET Commenter with a physical sciences Ph.D., San Francisco Bay Area: I think we’re now at […]

US Fed Balance sheet 2020 04 02 total assets

$1.5 Trillion Helicopter Money for Wall Street in 3 Weeks of Fed Bailouts

Loading up on Treasury securities, mortgage-backed securities, repos, “central bank liquidity swaps,” and “loans” to keep the Everything Bubble from imploding further. By Wolf Richter for WOLF STREET: Total assets on the Fed’s weekly balance sheet – mostly composed of Treasury securities, mortgage-backed securities (MBS), repurchase agreements (repos), “foreign central bank liquidity swaps,” and “loans” – spiked by […]

US unemployment claims 2020 04 02

Week Two of the Collapse of the Labor Market

This type of sudden, previously unimaginable fall-off-the-cliff data about the lockdown-economy is gut-wrenching. By Wolf Richter for WOLF STREET: Today, we got another dose of preliminary fall-off-the-cliff data about the lockdown economy: 6.648 million people filed initial unemployment claims in the week ended March 28, seasonally adjusted, about ten times the prior record set in 1982, according to […]

US Fed Balance sheet total assets 2020 03 26

Helicopter Money for Wall Street

Fed’s assets spike to high heaven to bail out the imploded Everything Bubble it had worked so hard to inflate over the past decade. By Wolf Richter for WOLF STREET: Total assets on the Fed’s weekly balance sheet, released this afternoon, spiked by $586 billion in one week, to $5.25 trillion. This doesn’t even include yet the bulk […]