Silver as an investment

Category Archives: FED

Here Is The Latest Breakdown Of Fed Hawks And Doves / by Tyler Durden / May 24, 2017 12:24 PM Ahead of today’s FOMC minutes, UBS reminds us that there has been substantial turnover on the FOMC, and so the Swiss bank has updated its periodic commentary on FOMC participants, as well as its popular “hawk-dove” chart. While many of the actors are well-known, there are some […]

Is the Manufacturing Growth Slowdown No Longer Welcome? Already? / Mike “Mish” Shedlock / May 24, 2017 On May 15, the Empire State manufacturing report kicked off the start of monthly regional Fed manufacturing reports with a composite reading of -1.0 vs an Econoday consensus expectation of 8.0. Econoday called the Empire State slowdown “welcome news”. It feared manufacturing was overheating. Yesterday, the Richmond Fed […]

Moving Closer to the Precipice / Pater Tenebrarum / May 23, 2017 Money Supply and Credit Growth Continue to Falter The decline in the growth rate of the broad US money supply measure TMS-2 that started last November continues, but the momentum of the decline has slowed last month (TMS = “true money supply”).  The data were recently updated to the end […]

We Now Know “Who Hit The Brakes” As Loan Creation Crashes To Six Year Low / by Tyler Durden / May 21, 2017 5:00 PM The wheels are falling off the US bank loan market. After we first showed in early March the steep drop in bank loan creation for both Commercial and Industrial, auto and total loans – all traditionally leading indicators to economic contraction and recession as business and consumers […]

A Quarter Of American Adults Can’t Pay All Their Monthly Bills; 44% Have Less Than $400 In Cash

There was some good news and some not so good news in the Fed’s latest annual Report on the Economic Well-Being of U.S. Households. First the good news. The report, based on the Board’s fourth annual Survey of Household Economics and Decisionmaking conducted in October 2016, presents a “picture of improving financial well-being among Americans”, […]

Evercore: If Markets Drop More, Don’t Expect To Be Bailed Out By The Fed This Time / by Tyler Durden / May 18, 2017 9:21 AM When we were discussing the self-reinforcing dynamics of vol-neutral funds yesterday, which may or may not continue selling today depending on what the VIX does, we concluded that aside from the decision-making mechanics of systematic funds, the biggest question would be if the Fed, or other central […]

Balance Sheet Normalization, Or Not / C.Jay Engel / May 17, 2017 Politicians, bureaucrats, and media talking heads specialize in saying one thing but meaning something else. In Fed world, something referred to as “balance sheet normalization” would be thought to be a return of balance sheet levels to pre-crisis numbers (roughly $850 billion). But common sense does not prevail. […]

Losing Faith? Dollar Index Dive Erases Post-Election Gains / by Tyler Durden / May 16, 2017  10:20 AM The Dollar Index is now down 5 days in a row. While economic data has been disappointing (potentially leaving a less hawkish Fed – though we doubt it), it appears Trump turmoil is more to blame as dollar-holders lose faith in dollar assets… The question is – […]

Goldman Turns Less Confident On June, September Rate Hikes / by Tyler Durden / May 16, 2017 9:07 AM Following disappointing CPI prints for two months in a row, even such stalwart believers in the Fed’s tightening cycle as Goldman Sachs (recall Hatzius warned recently that the Fed may need to “shock” markets to tighten monetary conditions in light of the S&P relentless grind higher despite rising […]

Empire State Manufacturing Survey Turns Negative: Welcome News? / Mike “Mish” Shedlock / May 15, 2017 The Empire State Manufacturing Survey kicks off the list of regional surveys by the Fed. The Empire State report turned in a composite reading of -1.0 vs an Econoday consensus expectation of 8.0. Econoday calls this welcome news. Activity in the New York manufacturing region is flattening […]