Author: admin

So, we have that going for us… NOT! 

Or, here’s your snippet: “As demand for copper surges, supply is increasingly likely to come from mines like this one on the arid steppe: expensive, technically complex, outside traditional copper jurisdictions and operating under the eye of governments jealously guarding their natural resources.

Analysts at Wood Mackenzie estimate a greener world will be short about six million tons of copper by next decade”

It’s nice to see that there are more traders, hedge funds, etc. out there that are thinking like I am… I pulled this from Bloomberg.com: “Investors are piling into bets against the US dollar as this week’s expected Federal Reserve interest-rate hike is likely to bring the steepest tightening cycle in a generation to a halt.

Hedge funds and other large speculators boosted their net bearish position on the greenback against major peers to more than 70,000 contracts as of April 25, the most since June 2021, data from the Commodity Futures Trading Commission show. The currency is set to erase all of the gains posted since the Fed started raising the cash rate last March, according to Bloomberg’s gauge of the dollar against major trading partners.”

Or, here’s your snippet: ” Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because the legislation also promised to reduce federal spending by $4.5 trillion over the next decade. Most of those spending reductions are achieved by rolling back Fiscal Year spending to 2022 levels and then limiting increases in spending to one percent for the next ten years. The bill also returns unspent COVID relief money to the US Treasury and eliminates President Biden’s student loan forgiveness programs.

The government’s fiscal situation will soon worsen, as both the Social Security and Medicare trust funds will likely be bankrupt within the next decade, forcing Congress to find an additional $116 trillion to fully fund them.”

It came just hours after another senior Threadneedle Street official insisted that the Bank would have been powerless to bring inflation under control even if it had acted faster on interest rates.”

Come May 1, however, new rules from federal regulators will tweak that formula by adjusting Loan Level Price Adjustments (LLPAs) that are set by underwriters Fannie Mae and Freddie Mac.

In its announcement earlier this year, the Federal Housing Finance Agency (FHFA) said the changes are designed to level the playing field and empower buyers from marginalized communities to compete in the hot market.

Danny Kovack, a Minnesota-based mortgage broker, told WCCO News the LLPAs will mean buyers with higher credit scores could be paying more in closing costs than they would have before, but it’s still better than having a lower score.

“Someone with a lower credit score is paying more to get the same rate as someone with a good credit score – still,” Kovack said. “It just used to be they were paying a lot more. They’ve made it closer to those with good credit. The better credit score, you’re getting a way better deal. They just made it just a tad bit worse for you.”

The California-based lenders stock price, which is down by more than 93 per cent this year, fell by a further 49.4 per cent, a day after it revealed its customers had withdrawn $100 billion of deposits during last month’s turmoil.”

The gold market has also seen some profit-taking as concerns over the banking sector eased after the failure of major regional banks in the U.S. and the collapse of Credit Suisse in Europe last month.”

If not, oil prices can and will spike, making Powell’s war on inflation even more of an open charade.”