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China Megabanks Kick Off $8.3 Billion Loss-Absorbing Bond Sales

Two of China’s biggest state banks will sell a combined 60 billion yuan ($8.3 billion) of total loss-absorbing capacity bonds starting this week, the first such debt sales by Chinese lenders in a drive to replenish capital and support growth of the world’s No. 2 economy.   Industrial & Commercial Bank of China Ltd. is [...] READ MORE

Why the World Has Gone Cuckoo for Copper

Copper plates at a refinery in Zambia. The U.S. and China are competing to acquire the metal essential for EVs and data centers. It is also at the center of a $43 billion takeover battle.   After one of the world’s top copper producers recently hit a financial crunch, the Biden administration started huddling with [...] READ MORE

Gold regains ground as dollar, yields slip post US PPI data

Summary   Focus shifts to US CPI data due on Wednesday Platinum hits near one-year peak US Fed's Powell expects inflation to fall   Gold prices rebounded on Tuesday, helped by a pullback in the dollar and Treasury yields after data showed U.S. producer prices rose more than expected in April, suggesting inflation remained high. [...] READ MORE

This Is the Greatest Manipulation of Gold In History

Discover shocking insights with Mike Maloney as he delves into what he claims is the greatest gold manipulation in history, unearthed in his book, “The Great Gold and Silver Rush of the 21st Century.” In March 2020, the world witnessed an unprecedented maneuver that could have zeroed out COMEX’s gold reserves, a situation avoided by [...] READ MORE

Are US interest rates high enough to beat inflation? The Fed will take its time to find out

Federal Reserve Rate Cuts The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.   A major concern expressed by both Fed policymakers and [...] READ MORE

Inflation and consumer spending updates ahead: What to know this week

Stocks rallied during a quiet week for economic data on Wall Street.   The Nasdaq Composite (^IXIC) rose just under 1% while the S&P 500 (^GSPC) popped almost 2%. The S&P 500 ended Friday back above 5,200 for the first time since early April. Meanwhile, the Dow Jones Industrial Average (^DJI) rose more than 2% [...] READ MORE

Weaker supply will drive platinum deficit higher than expected in 2024, WPIC says

An employee holds an ingot of 99.98 percent pure platinum in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, Summary Platinum market faces 2nd consecutive annual deficit in 2024 - WPIC Supply from mines seen down 2%, recycled supply to rise by 5% Total demand [...] READ MORE

Silver Is Ridiculously Undervalued

We come to 2 conclusions when looking at the price of silver expressed in several other assets: silver is undervalued and chart patterns suggest that silver is eager to move higher.   Silver is undervalued, significantly undervalued. This becomes clear when looking at the price of silver expressed in other assets. In this article, we [...] READ MORE

China fires starting gun on $140bn debt sale to boost economy

The bonds are expected to have long maturities as a way of funding long-term projects while alleviating the debt burden of local governments Chinese authorities have kicked off plans to sell Rmb1tn ($140bn) of long-dated bonds, as Beijing raises spending to stimulate the economy.   The People’s Bank of China has asked brokers for advice [...] READ MORE