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Thursday, August 18, 2022

One Bank’s Non-Transitory Inflation Meter Just Exploded

One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used…

Banks Are So Stuffed With Cash They Tell Companies: No More Deposits

Authored by Mike Shedlock via MishTalk.com,Banks are so overloaded with cash they are losing money on deposits...No More Cash Please Some banks, awash in deposits, are encouraging corporate clients to spend the cash on their businesses or move it elsewhere. It's a strange case of "No More Cash Please".U.S. companies are holding on to billions of…

Banks Start Freaking Out About Soaring Inflation, Which May Not Be “Transitory”

For the past few months we - unlike the Fed - have been warning readers that the US is about to get by a wave of soaring prices the likes of which have not been seen since the early 1970s (see "http://feedproxy.google.com/"Buckle Up! Inflation Is Here!"). And while two weeks ago we noted the even…

Central Banks Tell Markets: “You’re On Your Own Now”

By Ye Xie, Bloomberg macro commentator Three things we learned last week: 1. Major central banks prefer the status quo, for now. The Fed and BOJ joined other major central banks, including the ECB, to stay put as the global economy recovers. The Fed signaled that rates will remain near zero through at least 2023, but…

How Central Banks Made The COVID Panic Worse

By Kristoffer Mousten Hansen of Mises,org Historical events are complex phenomena, and monocausal explanations are therefore by definition wrong when explaining history. Many factors go into explaining why people and the world’s governments reacted as they did to the coronavirus. It is, however, my contention that examining the inflationary policies pursued by central banks and…

Chinese Banks Bar Clients From Buying Precious Metals

In an attempt to avoid another retail-driven momentum meltup similar to what happened with Chinese stocks earlier this month when government-media first encouraged Chinese investors to buy stocks only to backtrack days later when local markets soared sparking fears of another stock bubble on the mainland, Reuters reported that Chinese regulators and major banks have…

Chinese Banks Urged To Switch From SWIFT And Drop USD In Anticipation Of US...

Even as the market does its best to ignore the unprecedented upheavals in US-Sino relations in everything from trade, to diplomacy, to financial relations, the truth is that there are tectonic shifts tearing apart decades of established norms between the two superpowers, and one doesn't even have to dig too deep to see it. Consider…

The Latest Reports About Wall Street’s Corruption

Eric Zuesse Here are the latest 10 news-reports from the indispensable best reporters on Wall Street’s corruptness, Pam and Russ Martens, at their indispensable news-site, “Wall Street on Parade”: Wall Street on Parade reports during 10-22 June 2020: $340 Billion of the $454 Billion that Mnuchin Was to Turn Over to the Fed is Unaccounted…

In March The Banks Vowed Not To Fire Workers; They Kept That Promise For...

In late March with markets  plunging and the economy grinding to a halt, the big banks scrambled to assure their employees that they would still have a job in the coming months amid the chaotic carnage. This is what Reuters reported at the time: Big banks are postponing decisions about staff cuts as the coronavirus…

Central Banks Have Pumped An Annualized $23.4 Trillion Into The Financial System

You know there is a lot of confusion in the market when even fundamental, deep-value investing bloggers legends like Howard Marks now flip-flop every single week (accompanied by one investor letter after another) from bearish to bullish and back again, as if so much has changed besides, you know, the stock market: April 20: Widely…
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