The Federal Reserve will need to “inflict more losses” on the stock market to rein in inflation, former Fed President Bill Dudley said on Wednesday.Dudley believes the Fed needs to tighten financial conditions, and the only way to do that is to hike interest rates by a substantial amount.”Investors should pay closer attention to what… Continue reading The Fed needs to ‘inflict more losses’ on the stock market in order to rein in soaring inflation, former Fed president Bill Dudley says
The stock market’s fear gauge soars 17% as aggressive Fed forces investors to ‘wake up to screeching hawks’
The so-called VIX fear gauge for US stocks soared on Wednesday while equities broadly sold off. Nervousness among investors was heightened after hawkish remarks by the Fed’s Lael Brainard and Mary Daly. Markets are pricing in expectations for the Fed to raise interest rates by a hefty 50 basis points at upcoming meetings. Loading Something… Continue reading The stock market’s fear gauge soars 17% as aggressive Fed forces investors to ‘wake up to screeching hawks’
Lumber prices are flirting with a crucial level as mortgage rates jump above 5% for first time in years
Lumber futures are coming under pressure as the housing market gets more restrictive for new buyers.Lumber prices remain subdued below critical support at $1,000 per thousand board feet.Mortgage rates surged above the 5% level on Tuesday for the first time in years. Loading Something is loading. Lumber futures are struggling to reclaim a crucial support… Continue reading Lumber prices are flirting with a crucial level as mortgage rates jump above 5% for first time in years
Nasdaq plunges more than 2% to lead US stock sell-off as Fed official signals more aggressive tightening
US stocks dropped Tuesday, led by the Nasdaq’s 2.3% plunge, on hawkish comments from a top Fed official. Fed Governor Lael Brainard said the central bank could start shrinking its balance sheet at “a rapid pace” as soon as May. The 10-year yield shot up 14 basis points to more than 2.55%, hitting the highest… Continue reading Nasdaq plunges more than 2% to lead US stock sell-off as Fed official signals more aggressive tightening
Germany seizes $25 million in bitcoin as it shuts down a Russian-language darknet marketplace for illegal drugs
German authorities said Tuesday they seized $25 million worth of bitcoins while shutting down a darknet marketplace. The authorities confiscated 543 bitcoins worth in closing down the Hydra Market drug marketplace. Hydra Market had at least $1.32 billion in sales turnover in 2020 alone. Loading Something is loading. German law enforcement authorities said Wednesday they’ve… Continue reading Germany seizes $25 million in bitcoin as it shuts down a Russian-language darknet marketplace for illegal drugs
Russia default risk over the next 5 years soars to nearly 90% after US blocks bond payment
Russia’s five-year default risk soared to 87.7% on Tuesday, according to ICE Data Services. That’s up from 77.7% on Monday and 24.1% on February 24 when Russia launched its war on Ukraine. The US Treasury said Tuesday Russia will no longer be able to make sovereign bond payments using accounts at American banks. Loading Something… Continue reading Russia default risk over the next 5 years soars to nearly 90% after US blocks bond payment
Treasury Secretary Janet Yellen will deliver her first speech on crypto and call for a ‘comprehensive policy framework’
Treasury Secretary Janet Yellen is set to give her first-ever speech on cryptocurrency policy and regulation. The Thursday 10:30 a.m. ET speech will outline possible steps the Treasury could take to investigate the use and technology of digital assets. Last month, President Joe Biden signed an executive order that directs federal agencies to study the… Continue reading Treasury Secretary Janet Yellen will deliver her first speech on crypto and call for a ‘comprehensive policy framework’
Nasdaq jumps nearly 2% as investors pivot to risk-on while awaiting news of more sanctions on Russia
Tech stocks emerged as big winners in Monday’s session that kicked off the first full week of trading in April. Elon Musk’s sway in the markets was on display with big moves separately in shares of Twitter and Tesla. Investors were waiting for potential new sanctions on Russia from Europe. Loading Something is loading. US… Continue reading Nasdaq jumps nearly 2% as investors pivot to risk-on while awaiting news of more sanctions on Russia
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