Wheat futures posted their biggest weekly gain since March 2022, reaching a three-year high as Russia-Ukraine fighting cut Black Sea export flows and a USDA supply cut drove corn up 15% in August.
Category: Economy
Posted inEconomy
Warsh Debuts at Jackson Hole Warning That Inflation Is Still Too High
Fed Chair Kevin Warsh used his first Jackson Hole address to warn that July PCE inflation at 3.3% does not confirm underlying trends have improved, and called for a quieter central bank that signals less.
Posted inEconomy
Bank of Korea Delivers Back-to-Back Rate Hike to 3%, Citing AI Boom and Sticky Inflation
South Korea’s central bank raised its benchmark rate to 3% on Thursday in a second straight hike, as the AI chip boom stokes wages and inflation across the export-driven economy.
Posted inEconomy
US July PCE Inflation Holds at 3.7% as Consumer Spending Stalls
July PCE inflation hit 3.7% year-on-year, beating forecasts, as consumer spending stalled and the probability of a September rate hold rose to 62%.
Posted inEconomy
Europe Heads Into Winter With Gas Storage at 59%, the Lowest in Five Years
European natural gas prices have climbed to EUR 60 per megawatt-hour as underground storage levels reach just 59 percent of capacity in late August—far short of the EU’s 90 percent target—raising the risk of winter supply rationing and another inflation surge.
Posted inEconomy
Eurozone Factory Growth Hits Four-Year High in August as Export Orders Turn Positive
S&P Global’s August flash PMI put eurozone manufacturing at 52.8, a 54-month high, with the composite activity index at 52.1 as new export orders turned positive for the first time since February 2022.
Posted inEconomy
Warsh Heads to Jackson Hole With Markets Split on September Rate Hike
The Federal Reserve chair delivers his first Jackson Hole keynote on August 28, with traders pricing one-in-three odds of a rate increase nineteen days later at the September FOMC meeting.
Posted inEconomy
US 30-Year Treasury Yield Tops 5.33%, Highest in 19 Years
America’s long-term borrowing costs hit a 19-year high last week as Middle East oil shocks, persistent inflation above 3 percent, and a widening federal deficit pushed bond investors to demand greater compensation.
Posted inEconomy
Three Fed Dissenters Pushed for Rate Hike as July Minutes Reveal Hawkish Split
Minutes from the Federal Reserve’s July 28–29 meeting show three regional presidents voted to raise rates immediately, the largest dissenting bloc of the year, with many participants warning further hikes may be necessary.
Posted inEconomy
US Treasury Doubles Bond Buybacks as National Debt Crosses $40 Trillion
Treasury Secretary Scott Bessent announced plans to double long-end bond buyback operations to at least $4 billion per operation, sending 30-year yields down nearly 10 basis points.