11 August, 2015 by The TZ Newswire Staff Comments Off on An Economic Earthquake Is Rumbling
An Economic Earthquake Is Rumbling
Submitted by Bob Livingston Via Personal Liberty Digest,
While the people sleep, an economic earthquake rumbles underneath. The day that they begin to feel the quake draws near.
History will record that in this decade more people will lose more money (forget about the trillions of dollars already lost) than at any time in our history, including during the Great Depression.
At the same time, a very small group has made and will make huge sums of money.
11 August, 2015 by The TZ Newswire Staff Comments Off on IMF are loving the new yuan regime – facilitates SDR operations
IMF are loving the new yuan regime – facilitates SDR operations
Via Bloomberg, comments from the IMF on the new exchange rate regime from the PBOC:
– Says China should aim floating rate system in 2-3 years
– More market-determined rate facilitate SDR operations
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11 August, 2015 by The TZ Newswire Staff Comments Off on Where now for the yuan? Only the PBoC really knows
Where now for the yuan? Only the PBoC really knows
Even as China’s central bank weakened its yuan fixing further on Wednesday, uncertainty remains about Beijing’s commitment to a floating currency.
11 August, 2015 by The TZ Newswire Staff Comments Off on Stocks Whacked On Yuan Devaluation
Stocks Whacked On Yuan Devaluation
Stocks didn’t “yuan” to hear about it today. China’s devaluation of its currency jolted global markets, hitting stocks and commodities and boosting government bonds, as well as fueling worry about slowing growth from one of the world’s biggest importers of raw materials.
The Dow fell 1.2% to 17402.84, erasing most of the previous session’s gains. The S&P 500 fell 1% to 2084.07. The Nasdaq fell 1.3% to 5036.79.
Crude oil is about $1 away from the March lows of $43. It will be interesting to see if that catches a bounce at support or crashes lower.
11 August, 2015 by The TZ Newswire Staff Comments Off on People’s Bank of China (PBOC) sets yuan reference rate at 6.3306
People’s Bank of China (PBOC) sets yuan reference rate at 6.3306
People’s Bank of China (PBOC) sets yuan reference rate at 6.3306
– Yesterday’s close was at 6.3231
– Yesterday the Yuan reference rate was set at 6.2298, a 1.9% weakening of the yuan, the biggest change on record.
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11 August, 2015 by The TZ Newswire Staff Comments Off on You ready for your fix? PBOC yuan reference rate coming up at 0115GMT
You ready for your fix? PBOC yuan reference rate coming up at 0115GMT
Yuan reference rate set coming up at 0115GMT
I’ve posted a few pieces this morning on the yuan, PBOC etc:
And, some from the US afternoon:
The bolded posts are probably not to be missed
11 August, 2015 by The TZ Newswire Staff Comments Off on Australia – Westpac Consumer Confidence Index for August: +7.8% m/m (prior was -3.2% )
Australia – Westpac Consumer Confidence Index for August: +7.8% m/m (prior was -3.2% )
Westpac Consumer Confidence Index (s.a.) for August
– +7.8% m/m to 99.5
A much better reading than last month .. but still below 100 (the crossover from net pessimism to optimism, or from optimism to pessimism, depending on direction … but you know what I mean). Mind you its been under 100 for 16 of the past 18 months … so no surprise in that.