The US dollar retained its dominance as the world’s most widely held reserve currency, new data from the International Monetary Fund published Thursday shows. The dollar’s share of total allocated reserves was 59% in the first quarter of 2022, unchanged from the fourth quarter and down slightly from 59.4% a year ago. The Chinese yuan’s… Continue reading US dollar retains dominance in 2022 while China’s yuan gains share among global currency reserves
Bed Bath & Beyond has another 50% to fall, and its ‘dumpster fire’ first quarter means its days could be numbered, analysts say
Analysts this week are taking a grim view of Bed Bath & Beyond’s prospects as the stock craters in the wake of an earnings disaster and the CEO’s resignation. In the word’s of one analyst, it’s a “dumpster fire”. Shares have dropped 23% in the past two days, falling to $5.01 as of 11:25 a.m.… Continue reading Bed Bath & Beyond has another 50% to fall, and its ‘dumpster fire’ first quarter means its days could be numbered, analysts say
The blow-up of Three Arrows Capital has sparked a wave of crypto deleveraging, but that could soon end for 2 big reasons, according to JPMorgan
Investor confidence in the cryptocurrency market has been shaken to its core this year, as the implosion of TerraUSD jump-started a wave of deleveraging in the sector. The deleveraging has come from retail investors scaling back their margin accounts as well as miners who have to sell bitcoin after using it as leverage to expand… Continue reading The blow-up of Three Arrows Capital has sparked a wave of crypto deleveraging, but that could soon end for 2 big reasons, according to JPMorgan
Oil prices could be set to rise further as OPEC lacks additional supplies and China’s economic reopening pushes demand higher, RBC’s commodities chief says
Oil prices could soar even further as OPEC hits limits on its capacity while China’s economic reopening lifts demand, according to Helima Croft, RBC’s top commodities strategist. Saudi Arabia could add 1 million barrels per day to global markets, but other OPEC members like Libya are having production problems while OPEC partner Russia is facing… Continue reading Oil prices could be set to rise further as OPEC lacks additional supplies and China’s economic reopening pushes demand higher, RBC’s commodities chief says
Putin says the West is to is to blame for soaring global food prices and that Russia is not blocking Ukrainian grain exports
Russian President Vladimir Putin said Moscow isn’t preventing Ukraine’s grain exports from moving and that global food prices are soaring primarily due to Western sanctions. “We do not prevent the export of Ukrainian grain,” Putin said Thursday, per Reuters. “The Ukrainian military has mined the approaches to their ports, no one prevents them from clearing… Continue reading Putin says the West is to is to blame for soaring global food prices and that Russia is not blocking Ukrainian grain exports
Russian oil products may be increasingly headed to Saudi Arabia via Egypt
Increasing volumes of Russian oil products are appear to be landing in Saudi Arabia by way of Egypt, Bloomberg reported. While Egypt exported fuels to Saudi Arabia before Russia invaded Ukraine, Saudi Arabia is now taking 3.2 million barrels of power station fuel from Egypt this month, according to data from Vortexa cited by Bloomberg,… Continue reading Russian oil products may be increasingly headed to Saudi Arabia via Egypt
Oil is likely to hit $200 a barrel under the disastrous G7 plan to cap Russian prices, an SEB analyst says
Oil prices are likely to surge to above $200 if the G7 implements plans to cap the price of Russian crude and products, according to an analyst at Swedish bank SEB. Bjarne Schieldrop said Wednesday that the plans were a “recipe for disaster”, given the high levels of stress in the oil market, where prices… Continue reading Oil is likely to hit $200 a barrel under the disastrous G7 plan to cap Russian prices, an SEB analyst says
Legendary investor Jim Chanos is raising over $200 million for a ‘big short’ against data centers
Jim Chanos is raising more than $200 million for a fund that will bet against US-listed real estate investment trusts (REITs), the Financial Times reported this week. The famed short seller is deeply bearish on REITs that own legacy data centers, as he expects them to be disrupted by their biggest tenants: Amazon, Alphabet, and… Continue reading Legendary investor Jim Chanos is raising over $200 million for a ‘big short’ against data centers
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