Foreign Central Banks Now Hold More Gold Than US Treasuries
Here's the chart: source The chart says "first time since 1996", but the gold on the central banks balance sheets back then was…
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French bond yields converge with Italy's across the board - is a new eurozone crisis brewing?
French political turmoil has reared it's head again; it looks like Prime Minister François Bayrou won't be able to pass a budget through the French Assembly. There will be a…
The resignation of Governor Kugler allows Trump to appoint Jay Powell's replacement to the Federal Reserve's board now
Governor Adriana Kugler did not attend or vote in the FOMC meeting last week (where they voted 9 - 2 to hold interest rates in her absence). The official reason given was that…
Trade war: Canada's situation is different from the EU's
When the EU followed Japan and signed up to 15% tariffs, many commentators predicted that Canada would "cave" to Trump too. But Canada's situation is different to that of the…
A summary of the terms of the trade deals Trump has negotiated so far
President Trump has just announced a trade deal with Japan and the Philippines. What can we learn from these deals, and the deals already announced with the UK, China, Vietnam…
Will Trump fire Fed Chairman Jerome Powell?
Attacks on Fed Chairman Jerome Powell are happening almost daily as the Trump administration tries to force him to step down early. At the start of July, Trump posted the…
Copper futures in New York are now 25% higher than in London
Here is the chart comparing the futures price of copper on New York's COMEX exchange to the price on London's LME exchange: source Until Trump's inauguration…
Trump's tariffs hurt US auto sales
US retail sales for May came in lower than expected, down 0.9% from April, and the culprit was auto sales. Here's the breakdown by sector: source Recall…
Canada prepares a surrender to the US in a new trade deal
On the 11th June, The Economist magazine published an exclusive on the new trade deal Canadian Prime Minister Mark Carney was negotiating with President Trump. 24 hours later…
Central banks continue co-ordinated Quantitative Tightening as inflation pressures persist
All the major central banks are now engaged in Quantitative Tightening, including at last the Japanese Central Bank. Japan has been the source of excess liquidity in the world…