How bad is the coronavirus pandemic in China? It's worse than the Chinese government knows and worse than the world believes. Here are the official statistics on the coronavirus (technically COVID-19) as of today: Continue...Read More
China's domestic rebar prices rose on Friday February 21 amid strengthening futures and higher demand, which left some with the impression that the market had bottomed out.Eastern China (Shanghai): 3,420-3,450 yuan ($487-491) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,350-3,380 yuan per tonne, up 20-30 yuan per tonne DomesticMore end users have started working, though so far they...Read More
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Topics:What are some knock-on implications of the US Treasury bond?Difference between Government money market funds vs. Prime money market fundsWhy treasury and investment grade bond demand flows will remain solidDeclining German bunds in circulationThe growing USD funding gapWhat are LCRs and why are they falling?The US treasury demand impact of Dodd FrankKnock-on implications as treasuries no lo...Read More
Liz Claman has a new podcast called "Everyone Talks to Liz Claman." It's a great show and I was on it earlier this week where I talked about growing up, some personal stories, and things you haven't heard me talk about in other interviews. I highly encourage you to check out the episode here: https://radio.foxnews.com/2020/02/19/...Coronavirus continues to help the dollar, but is helping gold even...Read More
"IF OUR FORMALLY TARGETED FARMERS NEED ADDITIONAL AID UNTIL SUCH TIME AS THE TRADE DEALS WITH CHINA, MEXICO, CANADA AND OTHERS FULLY KICK IN, THAT AID WILL BE PROVIDED BY THE FEDERAL GOVERNMENT, PAID FOR OUT OF Continue...Read More
"The available empirical evidence suggests that the effects of changes in policy rates on asset prices and risk premiums tend to be modest relative to the historical fluctuations in those measures."Continue...Read More
Bond yields are collapsing lower in America as fears about a global coronavirus pandemic leading to a global economic slowdown continue to grow. Continue...Read More
Jordan Roy-Byrne comments on the charts of gold, silver, and gold stocks broadly. As much focus as people are giving to gold above $1,600, silver and gold stocks are the more important ones to watch right now. Jordan shares the levels they need to break to confirm the gold move and a stronger move higher.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians As...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.ChinaThe price of UG2 chrome ore dropped amid bids from alloy smelters as low as $130 per tonne after China's major stainless steel mills kept their February tender prices flat month-on-month.The market had expected a rise and the rollover knocked sentiment.Spot Chinese ferro-chrome pric...Read More
A US defense agency responsible for securing the communications of the president and senior officials has said it believes personal data from its systems were "compromised" during a 2019 data breach. Continue...Read More
The price of stainless steel in the European domestic market was unchanged in the week to Friday February 21, but decreases are expected for March due to weaker nickel values, sources told Fastmarkets.Finland-based stainless steel producer Outokumpu announced on Friday that its monthly alloy surcharge for grade-304 flat products in March will decrease by ?,?79 per tonne from February, to...Read More
Another all-time high for Torex Gold Resources is its Q4/19 gold production. In a news release, Torex Gold Resources Inc. (TXG:TSX) announced that it performed strongly financially, operationally and safety-wise in full-year 2019 and Q4/19 and reviewed each component.Financially , for 2019, the gold producer reported adjusted net income of $67.8 million, or $0.80 per share, on a basic and $0.79 d...Read More
These instances are located outside of previously drilled areas at Great Bear Resources' project in the Red Lake District. Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) reported in a news release the progress it has made with its $21 million exploration program and its predictive modeling of gold mineralization at the LP Fault zone, at its Dixie project in Ontario's Red Lake District.As for...Read More
More COVID-19 cases were reported in China overnightThe Dow stumbled into the weekend with an 227-point loss. The blue-chip index breached the 29,000 level amid resurfacing coronavirus fears, after over 800 new cases were reported overnight in China. The S&P 500 and tech-rich Nasdaq also finished sharply lower, with FAANG stocks and the chip sector among the day's notable laggards. All three bench...Read More
Dropbox just announced a $600 million share buyback, and posted a Q4 earnings beatOne of the top performers on the Nasdaq today is file sharing specialist Dropbox Inc (NASDAQ:DBX), which is bucking the broadmarket trend after posting fourth-quarter earnings and revenue that beat analysts' expectations, and lifting its 2024 operating margin target. The firm also announced a $600 million share buyba...Read More
FIT has surged 111% over the past six monthsAthletic smartwatch maker Fitbit Inc (NYSE:FIT) is down 0.5% this afternoon, last seen near $6.40, after the company reported a surprise fourth-quarter loss. Fitbit sold six million devices in the quarter, but international revenue fell by 7%. Analysts have yet to chime in on the disappointment, but heading into today, all seven carried a "hold" recomm...Read More
The coronavirus outbreak is starting to impact company's earnings reportsThe coronavirus really made its mark on Wall Street this holiday-shortened week. The outbreak that has gripped global headlines for all of 2020 has the Dow, S&P 500, and Nasdaq all pacing for substantial weekly losses. After Apple (AAPL) issued a guidance warning related to coronavirus headwinds, the Dow rattled off three st...Read More
All three indexes are eyeing their first weekly loss since January Stocks are continuing their steep sell-off midday with thethe Dow Jones Industrial Average (DJI) off almost 250 points at last check as an increase in coronavirus cases stokes investor anxiety. Things don't look much better for the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with the later dragged lower by a struggling tech...Read More
Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More