Jeffrey Gundlach, the billionaire bond manager, says the S&P 500 Index will end the year with a negative return and is dubious of the long-term value of bitcoin.
“All recession indicators are flashing no recession, which means it’s priced in,” Gundlach said Tuesday during his annual “Just Markets” webcast, in which he gives his outlook for the coming year. “This is why I say S&P... read more
China added to bond investors’ jitters on Wednesday as traders braced for what they feared could be the end of a three-decade bull market.
Senior government officials in Beijing reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, according to people familiar with the matter. The news comes as global debt markets were already... read more
The big story for investors in 2017 was the broad-based rally in stocks. Simply by owning equities of any shape or size, you likely made out very nicely.
Domestic large-cap stocks were up about 20% as measured by the S&P 500 SPX, +0.17% Other markets did even better, with broad global funds like the Vanguard Total International ETF VXUS, -0.05% up about 25% and the popular iShares FTSE/Xinhua... read more
As we kickoff the new year, John Embry told King World News that ‘Deep State’ sponsored bullion bank attacks in the gold and silver markets are now failing. This should set the stage for a wild 2018.
– John Embry: “Happy New Year, Eric, and I strongly suspect that for the holders of gold and silver bullion and their respective equities, it could finally be a very happy new ye... read more
The cash-strapped government of Venezuela offered to trade gold, diamonds and coltan, a rare metal used in cell phones, to pharmaceutical companies the country owes $5 billion in exchange for medicine, according to the Wall Street Journal Thursday.
Venezuela’s health minister Luis López offered several pharmaceutical companies the goods as an alternative payment for medicine to help stock... read more
In a nutshell, central banks are promising to "normalize" their monetary policy extremes in 2018. Nice, but there's a problem: you can't "normalize" markets that are now entirely dependent on extremes of monetary stimulus. Attempts to "normalize" will break the markets and the financial system.
Let's start with the core dynamic of the global economy and nosebleed-valuation markets: credit... read more
What have the tensions between the US and North Korea, Iran and Russia in common? Answer: It is that they are components to a wider financial war. Russia and Iran (together with China) happen to be the three key players shaping a huge (almost half the global population) alternative currency zone. The North Korean issue is important as it potentially may precipitate the US – depending on eve... read more
Gold prices are up and hit a more-than-three-month high in early U.S. trading Tuesday. A slumping U.S. dollar index that hit a better-than-three-month low today is bullish for the precious metals markets. Gold and silver markets are also seeing safe-haven demand on heightened geopolitical risks. February Comex gold was last up $4.50 an ounce at $1,313.90. March Comex silver was last down $... read more
Venezuela's cryptocurrency will launch within days and be backed by 5.3 billion barrels of oil worth $267 billion, in a bid to offset a deep financial crisis, the socialist government said on Thursday.
President Nicolas Maduro surprised many earlier this month when he announced the "petro" cryptocurrency, to be backed by OPEC member Venezuela's oil, gas, gold and diamond reserves.
Despite t... read more
I’ve predicted that a long period of deflation in the Western world would end with a Fed taper, rate hikes and quantitative tightening.
That’s clearly in play now, and the deregulation of America’s thousands of small banks is perhaps the most exciting event taking place on this new “inflationary frontier”. Because of these powerful monetary trends, I’ve predicted big problems ahead... read more
