News and Information

  Goldman Sachs believes more than $2 trillion of corporate debt will shake up the US economy over the next two years. The investment bank said in a report on Sunday that higher interest payments related to corporate debt refinancing would lead to lower capital expenditure and cut about 5,000 jobs a month in 2024. Assuming interest rates remain at current levels, that number could double by 2025, resulting in 10,000 job cuts a month.

  After the second-quarter results were announced, Palantir signaled that the third-quarter results will be better than expected, when it will qualify for the S & P 500 index, and said the company's goal is to profit from artificial intelligence. Palantir released its second-quarter earnings on Monday, and the data showed that the company's earnings per share were 5 cents and total revenue was $533 million, both in line with Refinitiv analysts' expectations. Palantir reported...

  With peak interest rates in sight, markets are anticipating that the Federal Reserve and other central banks are about to exit the rate hike cycle and begin the countdown to rate cuts. History shows that the average time interval between the last Fed rate hike and the first rate cut is short, but it has become longer since the 1990s. As a new easing cycle approaches around the world, investors should keep this in mind. One thing is for sure - the Federal Reserve is doing its best to dampen market expectations of its rapid "pivot",...

  Retail investors are advised to follow Warren Buffett's advice to protect their investments after funds focused on hedging "black swan" events warned that a big risk could be overlooked.... Mark Spitznagel, owner of "Black Swan" fund Universa Investments and author of "Safe Haven: Investing for the Financial Storm," warned of dangerous debt levels, slamming the US...

  Two months ago, when revolving credit - or credit card debt - and credit card interest rates were both at record highs, Zero Hedge, a well-known finance blog, predicted that the trend was unsustainable and that the heavily indebted US consumer would sooner or later hit a wall. "As non-revolving credit shrinks, the final pressure will come from the reversal of [record] credit card debt. With credit card interest rates also at a record 22.16 per cent, the wait won't be too long." The blog recently wrote that the latest...

  The pound rallied modestly against the dollar during Friday's trading session, marking a significant recovery over the past 48 hours. Lower-than-expected U.S. jobs data led to a weaker dollar, especially in light of the Bank of England's recent interest rate hike. While this doesn't guarantee an uninterrupted upward trend, it does suggest that the pound is showing active behavior against the dollar. The British are still facing severe inflation, as is the U.S. Sterling rallied modestly during Friday's trading session, marking a significant recovery over the past...

  ATFX Forex - With newly released data showing that U.S. drilling activity is slowing, which will lead to a drop in its crude oil production, traders are starting to bet: Global crude oil inventories will be significantly reduced.... U.S. crude oil production was essentially flat in May compared to April, indicating that falling oil prices and slowing drilling activity have finally caused the country's crude oil production to peak and begin to decline. According to a report released by the U.S. Energy Agency (EIA) on July 31, the U.S. except for the Gulf Coast...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 8, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1565 yuan for 1 US dollar, 7.8933 yuan for 1 euro, 5.0443 yuan for 100 yen, 0.91663 yuan for 1 Hong Kong dollar, 9.1736 yuan for 1 pound, 4.7218 yuan for 1 Australian dollar, and 4.7218 yuan for 1 New Zealand dollar.

  As non-farm payrolls cooled somewhat, Bowman hinted at the weekend: The Federal Reserve may need to raise interest rates further. Former US Treasury Secretary Summers also expressed concerns about inflation... To fully restore price stability, the Fed may need to raise interest rates further to bring inflation back to its 2% target, according to Bowman, a Fed governor. In a speech on Saturday, Bowman said she supported the Fed's decision to raise interest rates at last month's meeting. Although data released since then have shown slower price growth,...

  ATFX - [Market Review] 1. Last Friday, the three major indices collectively closed up. As of the close, the Shanghai index rose 0.23%, the Shenzhen index rose 0.67%, and the growth enterprises market index rose 0.95%. 2. The turnover of the two cities was 1.05 trillion yuan, and the total net purchase of northbound funds was 2.742 billion yuan. 3. On the disk, the superconducting concept was pulled up and strengthened; the concept of Internet finance rose to the limit; in addition, the concept of Xinchuang and telecom operations, media entertainment, securities companies and other sectors rose first;...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 7, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1380 yuan, 1 euro to 7.8784 yuan, 100 yen to 5.0515 yuan, 1 Hong Kong dollar to 0.91388 yuan, 1 pound to 9.1299 yuan, 1 Australian dollar to 4.7089 yuan, 1 New Zealand dollar to 4 yuan.

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 4, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1418 yuan for 1 US dollar, 7.8563 yuan for 1 euro, 5.0310 yuan for 100 yen, 0.91468 yuan for 1 Hong Kong dollar, 9.1237 yuan for 1 pound, 4.7080 yuan for 1 Australian dollar, and 4.7080 yuan for 1 New Zealand dollar.

  The dollar index retreated from a four-week high on Thursday. The data of the US labor market failed to impress a day before the release of the key employment report. At the same time, the yield of US government bonds rose, but the yield of short-term bonds fell. The dollar index fluctuated in a narrow range on Friday (August 4) and is currently trading around 102.48. The dollar index retreated from a four-week high on Thursday. The data of the US labor market failed to impress a day before the release of the key employment report...

  Yellen believes that Fitch's decision will not change the fact that U.S. Treasury bonds remain the safest and most liquid asset in the world, and that the U.S. economy and long-term debt situation remain optimistic... On Wednesday, U.S. Treasury Secretary Yellen lashed out at Fitch Ratings' move to strip the U.S. of its top credit rating, calling it "flawed" and "completely unfounded." She said at an event: "Given the strength of the U.S. economy, Fitch's decision is puzzling. In the long run, the U.S. remains...

  Traders flocked to commodity ETFs in July, but oil ETFs suffered record withdrawals just as oil prices topped $80... Traders flocked to exchange-traded funds (ETFs) covering oil, metals and grains as investors bet the global economy will still avoid recession amid rising interest rates. Data compiled by foreign media show that more than $350 million was invested in 20 ETFs tracking a broad range of commodity indices in July,...