WTF!
While other 'soft' survey data has been disappointing recently, The Richmond Fed Manufacturing Outlook did not... in fact, against expectations of a 14 print, following a 12 print in October, November printed 30! - 16 standard deviations above expectations.
This is an all-time record high for the survey...
Just two weeks after President Donald Trump announced that Fed Governor Jerome “Jay” Powell would be his pick to succeed Janet Yellen as chairman of the Federal Reserve, he is appearing today before the Senate Banking committee in a confirmation hearing that’s viewed as a virtual certainty.
The hearing begins at 10 am ET. Watch it live below:
//www.c-span.org/video/standalone/
Right on time, a heavy volume seller struck the precious metals complex right as the US equity market opened...
Of course the real driver of this is the JPY-pair that is pumped higher to juice the equity open...
And Silver was slammed back below $17.00...
Authored by Mike Shedlock via www.themaven.net/mishtalk,
114 Italian banks have non-performing loans that exceed tangible capital. Ratios above 100% are signs of severe stress...
The headline image is from the from ilsole24ore.com. The article is dated March 25, 2017. The translated headline reads "Here are the 114 Italian banks at risk for suffering"
The image shows 24 banks where non-performing loans total 200% or more of tangible assets.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation.