Despite still under pressure, Bitcoin and other cryptocurrencies were holding steadily above the lows set during a severe selloff over the previous two weeks on Monday. Over the past 24 hours, the price of Bitcoin has been hovering just above flat at $21,400. The biggest digital asset hit its lowest point this month, around $18,000,
Month: June 2022
Municipals were lightly traded and little changed Monday, while U.S. Treasury yields rose and equities ended in the red. With the muni triple-A yield curve unchanged out long, and UST seeing small losses, ratios dipped below 100% on the 30-year. Muni-UST ratios were at 69% in five years, 87% in 10 years and 98% in
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Finnish lithium developer Keliber Oy today announced that municipalities of Kaustinen and Kronoby have granted a building permit for Keliber’s
The recent outbreak of price inflation came as a surprise to the Fed… by Antony P. Mueller via Mises (The following text is a revised update of an article that was first published in 2005.) The recent outbreak of price inflation with the jump to an annual rate of 8.6 percent in May 2022 came as
What Is the Glass-Steagall Act? In 1933, in the wake of the 1929 stock market crash and during a nationwide commercial bank failure and the Great Depression, two members of Congress introduced an act, known today as the Glass-Steagall Act (GSA), that would separate investment and commercial banking activities. At the time, improper banking activity–the
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 16, 2022. Brendan McDermid | Reuters SPACs, once Wall Street’s hottest tickets, have become one of the most hated trades this year. The proprietary CNBC SPAC Post Deal Index, which is comprised of SPACs that have completed their mergers
A Russian missile hit a busy shopping mall in central Ukraine on Monday, triggering a blaze in which the number of dead may be “impossible to imagine”, said the country’s president, who described the attack as a “terrorist” act. Hours after Volodymyr Zelenskyy pleaded with G7 leaders for more missile defence systems following a series
Spending by US companies on private jets for personal use by chief executives and chairs hit the highest level for a decade last year as many businesses relaxed restrictions on using them because of the pandemic. It rose 35 per cent to $33.8mn among S&P 500 groups in 2021 — the highest since 2012, according
Henry Yoshida isn’t a fan of referring to alternative investments as, well, alternatives. He understands that is how they’re categorized by the industry and consumers. But for the co-founder and CEO of Rocket Dollar, investments into things like real estate, private equity and even digital assets are far from fringe. Instead, he believes they are
Consumers are tightening their wallets and are concerned about the prospect of a recession; that was evident in a recent proprietary survey regarding the U.S. Online Shopper, undertaken by investment bank Evercore. Firm analyst Mark Mahaney notes that 58% of consumers said they believe their retail spend over the next 6–12 months will drop while
In this article SAVE ETSY COIN HOOD DWAC Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Spirit Airlines — The budget airline’s shares
Following the conclusion of the fourth annual NFT.NYC conference, attendees took the opportunity to reflect upon a week of artistic inspiration, community networking and developer innovation from within the nonfungible token (NFT) space. A sequel to last year’s popular debut, The Digital Diaspora event on June 19 served as a dedicated exhibition, panel discussion, and
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC. Saul Loeb | AFP | Getty Images Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April, according to the National Association of Realtors. That broke a six-month
DOGE was trading higher on Monday, as prices rose to their highest level in almost 20 days. TRX was also in the green to start the week, as prices continued to climb, following a recent streak of bullish momentum. Dogecoin (DOGE) DOGE was a notable mover during today’s session, as prices rose to their highest
Topline A leading indicator for housing market activity—pending home sales—unexpectedly jumped in May and reversed six straight months of declines, according to new data from the National Association of Realtors on Monday, though experts warn that higher mortgage rates will continue to weigh on demand. Key Facts Pending home sales, which measure signed contracts on
The Connecticut Green Bank is mulling another round of its climate-certified Green Liberty Bonds after initial offerings raised more than $40 million from retail investors for renewable energy projects across the state. With a marketing program that echoed the Series E war bonds sold to Americans during World War II, Green Liberty Bonds targeted the
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The G7 is set to announce a ban on imports of Russian gold it was announced this weekend. U.S. President
Unable to actually raise interest rates enough to change the speculative mindset, all that central banks can do is hope to scare us into… by Bryce McBride (of Pembroke Observer) and Workbook for the new I.B. Economics The messaging coming out of the Bank of Canada and other central banks is clear: rising inflation is
Cruise ship stocks were among the biggest winners in Friday’s rally. Carnival (CCL) shares were up over 12%. Royal Caribbean (RCL) and Norwegian Cruise (NCLH) shares were both up over 15%. The jumps came after Carnival forecast a core profit for the current quarter as the cruise operator returns to full operations, even as surging inflation and
Nato is to increase its forces on high alert by more than sevenfold to 300,000 in response to Russia’s invasion of Ukraine as part of a sweeping overhaul to better protect its eastern flank. In a historic shift from the post-cold war era, when military spending was cut and troops pulled back from eastern Europe,
Credit Suisse has become the first domestic bank to be found guilty of a corporate crime by Swiss authorities after a court found the lender failed to stop the laundering of Bulgarian drug money. The verdict was handed down in the southern Swiss city of Bellinzona by the country’s highest criminal court on Monday. Judges
After the Supreme Court struck down Roe v. Wade on Friday, ending women’s right to abortions nationwide, some banks jumped into a highly charged social policy debate that the industry long sought to avoid. Both JPMorgan Chase and Bank of America made it known that they are generally following the lead of Citigroup, which recently
Shares of GMS Inc. (NYSE: GMS) have been rising since the company announced its results for the fourth quarter of the fiscal year ended April 30, 2022 last week. GMS is a leading North American distributor of specialty building products like wallboard, ceilings, steel framing, and complementary construction products. GMS’s Q4 FY22 revenue increased 38.2%
In this article MO COIN HOOD DWAC BNTX SAVE Check out the companies making headlines before the bell: Spirit Airlines (SAVE) – Spirit Airlines lost 4.7% in the premarket after saying it would accept the latest improved takeover bid from Frontier Group (ULCC). The latest Frontier cash-and-stock bid is valued at $2.7 billion based on
Sharing is Caring! Via Birch Gold Group From Peter Reagan There isn’t any doubt, when inflation accelerates like it is right now, the lower income class has their financial worlds turned upside down. After all, that’s what happens when most of the food that we eat and fuel we use every single day suddenly becomes 10% – 43%
Cryptocurrency lending platform Nexo has hit back at what it called “fake news” and rumors that its founders were part of a charity embezzlement scandal, saying the claims are untrue and defamatory. It has issued a public cease and desist notice to the originator of the allegations. In a blog post about the claims, Nexo
The sad thing about vacations is that no matter how much fun you’re having, they have to end. Just consider that demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years. Sky-high home prices and surging mortgage rates, along with economic uncertainty and an increase in second-home loan
Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division. The division, named the extended reality unit, will be the one tasked with encompassing all metaverse-driven efforts, including hardware and software developments. According to reports, the company aims to employ over 300 in this unit, with Tencent giving it big
Earlier this month, the National Academy of Social Insurance released its new report, “Economic Security for the 21st Century.” It came out of the Academy’s 2019 – 2021 Economic Security Study Panel, the goal of which was to “assess economic insecurity and present policy options to better provide stable and adequate income,” with twin objectives
Mediators for the Puerto Rico Electric Power Authority on Thursday asked bankruptcy judge Laura Taylor Swain for another month extension in the mediation, which would bring it to Aug. 1. Swain told all parties to respond to the proposed extension by noon Monday. When Gov. Pedro Pierluisi ended the last restructuring deal (Restructuring Support Agreement),
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