Financier, philanthropist and head of the renowned Rothschild empire, Lord Jacob Rothschild has died aged 87…
Britons ‘need to accept’ They’re Poorer, Says Bank of England…
Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages…
Casino Aficionados Will Have a Busy Day…
Bank moves made to stave off financial crisis…
This Just in – Western Nation Central Banks Organize to Provide Daily Liquidity of Dollars in the Event of Contagion Bank Collapse…
This is rather remarkable and tells us something about the current status of the “western” financial system. The last sentence in today’s announcement from the FED is particularly laughable…
Funding Panic Imminent? Fed Quietly Sends $3.1 Billion to Switzerland Via Swap Line…
BofA Chief Investment Strategist Michael Hartnett has a favorite markets phrase that may be the only one a trader in this day and age needs: “Markets stop panicking when central banks start panicking.”…
Here it Comes: The Most Important Week of The Year…
The “most important week of the year” is finally here, when in addition to an avalanche of economic data including US payrolls, European PMIs, BOE and BOJ announcements, and the restart of US-China trade talks, we are in for a historic treat with the Fed set to cut rates for the first time in over […]
Bank of England Boss: China’s Renminbi Will Rival the Dollar as Global Reserve Currency…
The past year was full of events that inevitably split the global geopolitical space into two camps: those who still support using US currency as a universal financial tool, and those who are turning their back on the greenback. Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries […]
Bank of England Refusing Venezuelan Request to Return $550 Mln in Gold…
Earlier, Caracas indicated that it was looking to repatriate some 14 tons of gold bars back from the UK out of concern that the bullion may be affected by harsh US sanctions against the Latin American country. The Bank of England is refusing to release Venezuela’s gold bars, worth about $550 million or £420 million, […]
NY Fed Unleashes SOFR, the U.S. Rival to LIBOR…
In an effort to offer a more transparent alternative to U.S. dollar Libor, the New York Federal Reserve released its first Secured Overnight Financing Rate (SOFR) Tuesday. SOFR opened at 1.80. Considerably lower than either the ICE Libor 1 month or 3 month rates. The Secured Overnight Financing Rate (SOFR) is a broad measure of […]
My Kuroda! Not a Single Japanese 10-Year Bond Traded Tuesday…
The Bank of Japan has vacuumed up so much of the government bond market — in excess of 40 percent — that it’s left fewer securities for others to buy and sell. Some other buyers, such as pension funds and life insurers, also tend to follow buy-and-hold strategies. That’s the backdrop to Tuesday’s session, when […]