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Gold slips on USD strength, higher yields; 5/29/24
Gold futures slip on USD strength and higher Treasury yields. Phillip Streible explains.
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- From fxempire.com|May 29, 2024
video Following a two-day bounce earlier in the week, gold pulled back from Tuesday’s high of 2,364 on Wednesday to reach a low of 2,334. It fell below Tuesday’s low of 2,340 ...
- From bnnbloomberg.ca|May 29, 2024
US banks’ paper losses from two key types of securities they hold rose last quarter due to further stresses in the housing market, according to the Federal Deposit Insurance Corp. ...
- From bnnbloomberg.ca|May 29, 2024
BHP Group decided against making a firm offer for Anglo American Plc, instead walking away for now from what would have been the biggest mining deal in over a decade. The ...
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- From zerohedge.com|May 29, 2024
Extending the dismal pace of US economy growth (if not outright contraction) observed in last month's Beige Book, which was validated by the sharp drop in Q1 GDP growth which ...
- From awealthofcommonsense.com|May 29, 2024|1 comment
Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There ...
- From @Capital_Hungry|May 29, 2024
post: SWISS NATIONAL BANK'S JORDAN: REASONS TO BELIEVE THE NATURAL RATE OF INTEREST HAS INCREASED OR MIGHT RISEJordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view Ladies and gentlemen I am delighted to be here today in Seoul to address such a distinguished audience. I would like to thank Governor Rhee for inviting me to give this keynote speech. The topic of this year’s Bank of Korea International Conference – ‘The Evolution of the Natural Interest Rate and Its Implications for the Global Economy’ – could not have come at a better time. Monetary tightening over the past two years has lifted policy rates and longerterm interest rates from their historical lows. There are reasons to believe that some of the structural drivers of real interest rates have also changed direction in recent years. A lively debate has emerged on whether real interest rates will return to their pre-pandemic levels, or whether they will remain higher because the natural rate of interest, r*, has increased.1 Over the past years, r* has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank’s monetary policy stance. Therefore, r* estimates help in evaluating different monetary policy options. However, the measurement of r* is subject to high uncertainty. Today I would like to focus mainly on how policymakers can nevertheless make use of r* estimates in practice. In the first part of my remarks, I will briefly review the developments in real interest rates over the past decades. I will then turn to the concept of r* itself. In the second part, I will discuss how policymakers can use r* in practice to assess the monetary policy stance, and in particular, how they can deal with the inherent uncertainty in r* estimates. Here I will draw especially on the Swiss National Bank’s experience.
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- Posted: May 29, 2024 6:15pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 125