PRECIOUS-Gold accelerates to 8-month peak on dollar pullback
*U.S. CPI report due on Thursday*Dollar index down 0.4%(Updates prices)Jan 9 (Reuters) – Gold prices extended gains to an eight-month high on Monday as a weaker dollar made greenback-priced bullion cheaper for overseas buyers, while investors bet on a less-aggressive rate-hike trajectory from the U.S. Federal Reserve this year.Spot gold was up 0.8% at $1,880.33 […]
Treasury yields pull back to mid-December levels
Treasury yields fell across the board Monday, with the 10-year rate declining to its lowest yield in about three weeks, as investors monitored China’s reopening and awaited remarks this week by Federal Reserve Chair Jerome Powell and a round of U.S. inflation data.Price action The yield on the 2-year Treasury note TMUBMUSD02Y, 4.220% fell 6.3 […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]
‘Markets are going to get rocked’ as Fed is likely to push rates higher, economist warns
The Federal Reserve is likely to raise interest rates more than the markets now expect, says Ricardo Reis, an economist at the London School of Economics. “Markets are going to get rocked,” Reis told MarketWatch on the sidelines of the American Economic Association annual meeting in New Orleans. “All the risks are on the upside. […]
Workers in California and Washington State will get more pay transparency
Do you know how much your job is worth? Millions of Americans are finally getting the answer. On Jan. 1, California and Washington state began requiring employers to include pay ranges with their job listings. The two states follow New York City and Colorado in implementing pay-transparency measures. As of Dec. 4, just 44% of […]
‘Concessions have made a comeback’: In a cooling housing market, sellers pull out all the stops to lure buyers
Some home sellers are finally accepting the writing on the wall, and offering concessions to home buyers as demand remains weak in the housing market. According to a new report from Redfin RDFN, +4.39%, approximately 42% of homes sold in the fourth quarter of 2022 came with concessions. In contrast, over the same period in […]
Fed’s Bullard says 2023 on track to be a ‘disinflationary year’
High U.S. inflation is likely to recede in 2023 thanks to aggressive Federal Reserve efforts to raise interest rates and cool off the economy, a senior central bank official said. James Bullard, president of the St. Louis Federal Reserve, said higher rates should help curb inflation by slowing the economy and reducing the demand for […]
Why gold prices may be headed for record highs this year
Gold recently climbed to its highest prices in nearly seven months, feeding expectations that the precious metal is on track to notch record highs this year, after closing out 2022 with a modest loss.Gold “noticeably” appreciated by about $200 an ounce from November to the end of last year, and continued that trend in the […]
The Fed delivered a message to the stock market: Big rallies will prolong pain
It was a “don’t make me come back there” moment from the Federal Reserve.A line from the minutes of the central bank’s December policy meeting released Wednesday afternoon was taken by analysts and economists as a warning to financial market participants that bets on a policy pivot in 2023 aren’t welcome. And, to the extent […]
German factory orders fell in November to lowest level since July 2020
New orders at German factories declined sharply in November to their lowest level in more than two years, a sign of weakening demand for the country’s key manufacturing sector as the economy cools. Factory orders fell 5.3% on month in November, swinging from a 0.6% rise in October, according to price-adjusted data from the German […]