Agriculture
Unlike the soybeans, the corn numbers set the tone for bears to jump on and start short covering, which spilled into the overnight session. The dry weather in other parts of the Great Plains did not appear to make much of a difference to winter wheat production and yields. Corn prices are high, so demand for feed wheat could increase. Minneapolis held better as production forecasts are lower for spring wheat. Wheat remains a weather market, but the demand side has been weak.
less Image Source: Unsplash Wheat markets were lower in response to the USDA WASDE reports. The July corn has recently trading at around 702 ¼, which is 12 ½ cents lower.
less Image Source: Unsplash Wheat markets were lower in response to the USDA WASDE reports. The July corn has recently trading at around 702 ¼, which is 12 ½ cents lower.
Currencies
Emerging markets suffered too, amplified by the rush into the dollar.
Metals
Gold and silver also succumbed to some modest selling pressure through Wednesday – though they both held up better than the stock market. However, the LBMA March silver supply previously indicated a record stock of silver in its London vaults. Naturally, many precious metals bulls were disappointed that gold and silver didn’t scream higher on the inflation news. If you pay attention to the LBMA’s monthly publication of its supply, you will find information about its gold and silver holdings.
In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought. As polls like these trickled in, copper toppled $10,000 on Thursday and iron ore prices — an integral component to steel — hit a record high. Gold and miners remain relatively resilient, and one isn‘t leading the other to the downside. In March, the LBMA claimed to have a record amount of silver in their inventories.
However, the LBMA March silver supply number was off—by a lot. Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits. less Inflation surged 4.2% in April, but gold declined in response. However, gold did show relative strength versus the S&P 500, which lost 4% for the week through Wednesday’s close. For Steel Dynamics, the stock averaged a one-month return of 9.1% and also held a 100% positivity rate. What’s more, the New York spot gold prices have decreased in the aftermath of the April report on the CPI.
This 11% represents about $30 billion or 1,259,310 silver bars. Gold was down a mere 0.5% over that period.
In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought. As polls like these trickled in, copper toppled $10,000 on Thursday and iron ore prices — an integral component to steel — hit a record high. Gold and miners remain relatively resilient, and one isn‘t leading the other to the downside. In March, the LBMA claimed to have a record amount of silver in their inventories.
However, the LBMA March silver supply number was off—by a lot. Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits. less Inflation surged 4.2% in April, but gold declined in response. However, gold did show relative strength versus the S&P 500, which lost 4% for the week through Wednesday’s close. For Steel Dynamics, the stock averaged a one-month return of 9.1% and also held a 100% positivity rate. What’s more, the New York spot gold prices have decreased in the aftermath of the April report on the CPI.
This 11% represents about $30 billion or 1,259,310 silver bars. Gold was down a mere 0.5% over that period.
Oil
A strong crude oil price has helped bolster Peso strength in recent months, as the Mexican economy relies heavily on the commodity’s export revenues. On the crude oil front, the market traded higher on the U.S. stock draw and upbeat global demand.
United States
In 2020, the Fed adopted an average inflation targeting policy with the implicit assumption that it would be used to push inflation higher when at the zero bound. In fact, the policy may end up forcing the Fed to push inflation lower at the zero bound. Bond yields moved up and futures markets began pricing in higher probabilities for a Fed rate hike by the end of the year. Notably, the breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) reached the highest since 2006 at 2.71%, ahead of the Fed’s 2% inflation target.
For those keeping score at home, the US inflation rate in 1981 was 10.3%. But investors appear to be concerned that inflation is now becoming a much bigger problem than the Fed acknowledges. Unless these turn thus facilitating the Nasdaq and S&P 500 rebound, the relief stock market rallies can‘t be trusted yet. Meanwhile, Bank of America writes that “Both the Fed and the bond market largely dismissed the report as a fluke.
The evidence isn‘t strong thus far, but there is a lot of time left till the Jun Fed meeting. How long before it forces the Fed to talk, act and not play ostrich?
WSJ explains how Coinbase is trying to distance itself from the risks of bitcoin to succeed on Wall Street. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
For those keeping score at home, the US inflation rate in 1981 was 10.3%. But investors appear to be concerned that inflation is now becoming a much bigger problem than the Fed acknowledges. Unless these turn thus facilitating the Nasdaq and S&P 500 rebound, the relief stock market rallies can‘t be trusted yet. Meanwhile, Bank of America writes that “Both the Fed and the bond market largely dismissed the report as a fluke.
The evidence isn‘t strong thus far, but there is a lot of time left till the Jun Fed meeting. How long before it forces the Fed to talk, act and not play ostrich?
WSJ explains how Coinbase is trying to distance itself from the risks of bitcoin to succeed on Wall Street. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Europe
When the ECB was founded, it adopted inflation targeting with the implicit assumption that the purpose of the policy was to hold down inflation. In fact, the policy regime has mostly forced the ECB to try to raise inflation.
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