Central banks continue to DUMP the US Dollar for Gold:
95% of central banks expect global gold reserves to rise in the next year, according to a World Gold Council survey. A record 43% plan to boost their holdings. 73% expect USD reserves to decline over the next 5 years. Source: Global Markets Investor, Yahoo Finance
Blackout Period
Watch out for Jerome Powell's remarks this Wednesday.Then — the Fed enters a new phase:The blackout period ends Thursday, meaning Fed officials will be free to speak again starting Friday. source : evan
Central Bank Rate Decisions This Week
source : Bloomberg
On the back of lower than expected CPI (May) numbers, President Trump calls for the Fed to cut interest rates by "one full point." (i.e 4 rate cuts)
Source: Stocktwits
An intentional leak to give markets further hope?
Source: Adam Taggart @menlobear on X
The Bank of Japan's unrealized losses hit a record ¥28.6 trillion ($198 billion) in Fiscal Year 2024 ending March 31, 2025.
Paper losses from Japanese government bonds TRIPLED from the last year. However, the BOJ's reported net income was ¥2.26 trillion ($16 billion). It can take years until these bonds mature. Source: Global Markets Investor, Bloomberg
The Federal Reserve has now lost a combined $192 Billion over the last 2 years
Source: Barchart, Wolfstreet.com
The People’s Bank of China trimmed the 1-year loan prime rate to 3.0% from 3.1%, and the 5-year LPR to 3.5% from 3.6%.
A slew of state-backed commercial lenders moved to cut their deposit rates by as much as 25 basis points earlier Tuesday. As mentioned by Mo El Erian, the question remains: will this prolonged period of policy incrementalism reach a critical mass that fundamentally alters household sentiment and consumer behaviour? So far, it has failed to do so. Source: Bloomberg, CNBC
