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Day: June 10, 2021

Household net worth climbs to $136.9 trillion, thanks to big stock market gains

U.S. dollars are counted by a at a bank in Westminster, Colorado. Rick Wilking | Reuters The net worth of U.S. households climbed to new heights as 2021 began and the effects of the Covid-19 pandemic began to fade. Thanks largely to a surge in the stock market, the total balance sheet for households and …

Household net worth climbs to $136.9 trillion, thanks to big stock market gainsRead More

Hot US Inflation Data Injects Some Life into Markets

Investors who have been craving for some volatility this afternoon had their wishes fulfilled following the May inflation report that showed prices rising in the United States at their fastest rate since 2008. The consumer price index (CPI) jumped to 5% year-on-year, up from 4.2% in April and topping the 4.7% forecast. Core inflation, which …

Hot US Inflation Data Injects Some Life into MarketsRead More

ECB Upgrades GDP Growth and Inflation Forecasts, Refrains from Talking about Taper

The ECB meeting contains little surprise. On economic developments, despite the notion that recent rise in inflation has been driven by temporary factors, the staff upgraded headline inflation projections sharply for this year and 2022. All monetary policy measures stay unchanged. Obviously, policymakers avoided to mention about “taper”, amidst concerns over tightening financial conditions. Acknowledging …

ECB Upgrades GDP Growth and Inflation Forecasts, Refrains from Talking about TaperRead More

Consumer prices jump 5% in May, fastest pace since the summer of 2008

Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday. The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. …

Consumer prices jump 5% in May, fastest pace since the summer of 2008Read More

Muted Reactions to ECB and US CPI, Yen Lower Following Yield Rebound

There are heavy weights event for Euro and Dollar today, but reactions are so far mild. ECB said it will continue the PEPP purchases at “significantly higher” pace in Q3. Yet, it also upgraded both growth in and inflation forecast for this year and next. Dollar shrug off very strong consumer inflation, as well as …

Muted Reactions to ECB and US CPI, Yen Lower Following Yield ReboundRead More

Hot inflation may have become scorching in May and is expected to hit a 28-year high

Inflation has been warming up this spring, and it’s expected to hit historical levels for the month of May. The consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according to Dow Jones. That’s the fastest annual pace in 28 years. Economists expect both core …

Hot inflation may have become scorching in May and is expected to hit a 28-year highRead More

‘Impotent’ Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predicts

Most people want to forget this part of the 1970s. But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades. “Monetary policy … is right now impotent in its ability to stimulate economic activity,” the Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Wednesday. Boockvar …

‘Impotent’ Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predictsRead More

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