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☆ David Rosenberg, Jeremy Grantham, and 4 other market gurus just rang the alarm on a stock market bubble
▼ + stars: | 2024-03-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Here are six recent bubble warnings from experts this week:Advertisement1. "We are nonetheless in a market bubble." Paul Dietrich"The Stock Market Bubble Is About to Burst — Look Out!" AdvertisementGrantham also suggested the AI craze would end and bring the stock market down with it. Michael GayedGayed flagged the recent surge in gold, utility stocks, and long-term Treasury bonds as evidence of mounting market jitters in an InvestorPlace op-ed this week.

Persons: —, David Rosenberg, Merrill Lynch, Rosenberg, Paul Dietrich, Riley Wealth, Jeremy Grantham Stocks, Grantham, Michael Hartnett, Hartnett, Larry Summers, Summers, Michael Gayed Gayed Organizations: Service, Nvidia, Business, Rosenberg Research, North, Bloomberg, Bank of America, Tidal Locations: North American

☆ Call center group Teleperformance falls 23%; CEO insists AI cannot replace human staff
▼ + stars: | 2024-03-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Teleperformance plunged 23% on Thursday, after the French call center and office services group missed its full-year revenue target and flagged a "volatile economic environment." Teleperformance shares dropped 16% last week, according to LSEG data, after Swedish financial services company Klarna said its Open AI-powered customer service assistant was handling two-thirds of customer service calls. But Teleperformance CEO Daniel Julien on Thursday said that AI would be a positive for its business model — and that it will never fully replace the value of human interaction. "AI is part of the solutions we provide to the clients," Julien told CNBC's "Squawk Box Europe." So we perceive AI as enhancing the job that our human employees do, but absolutely not replacing them."

Persons: Klarna, Daniel Julien, Julien, CNBC's, It's

☆ Bank Runs Spooked Regulators. Now a Clampdown Is Coming.
▼ + stars: | 2024-03-05 | by ( Jeanna Smialek | Rob Copeland | ) www.nytimes.com time to read: +1 min

One year after a series of bank runs threatened the financial system, government officials are preparing to unveil a regulatory response aimed at preventing future meltdowns. After months of floating fixes at conferences and in quiet conversations with bank executives, the Federal Reserve and other regulators could unveil new rules this spring. The interagency clampdown would come on top of another set of proposed and potentially costly regulations that have caused tension between big banks and their regulators. Taken together, the proposed rules could further rankle the industry. The goal of the new policies would be to prevent the kind of crushing problems and bank runs that toppled Silicon Valley Bank and a series of other regional lenders last spring.

Organizations: Federal Reserve, Bank Locations: Silicon

☆ Woman Could Have Prevented Great Recession; Ignored by Wall Street Men
▼ + stars: | 2024-03-04 | by ( Josie Cox | ) www.businessinsider.com time to read: +21 min

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.

Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, —, Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York

☆ Real-estate lender NYCB is in turmoil, shredding nerves on Wall Street
▼ + stars: | 2024-03-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

The turmoil at New York Community Bancorp continued Thursday with a string of announcements that sent shares down over 20%. It appointed a new CEO and disclosed "material weaknesses" relating to how it reviews loans. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe turmoil at New York Community Bancorp, or NYCB, is getting worse. More worryingly, it added in regulatory filings that its management "identified material weaknesses in the Company's internal controls related to internal loan review."

Persons: —, NYCB, Alessandro DiNello, Thomas Cangemi Organizations: New York Community Bancorp, NYCB, Signature Bank, Service, Business

☆ How China's property bubble burst
▼ + stars: | 2024-02-29 | by ( Gaelle Legrand | ) www.cnbc.com time to read: +1 min

Since China's economic liberalization in the 1970s and housing reforms in the late 1980s, locals have flocked to properties as the investment vehicle of choice over alternatives such as the stock market. The property and construction boom helped fuel China's – and the world's – economic growth for 30 years. By some estimates, property in China was worth $60 trillion at its peak, making it the biggest asset class in the world. But the country's property crisis has deeper roots than speculation and uncontrollable debt. Watch the video to find out how China's property bubble burst.

Persons: wasn't Locations: China, Beijing

☆ China's latest market crackdown shows it hasn't learned any lessons
▼ + stars: | 2024-02-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China has curbed short selling and quant trading activities to support its flailing stock markets. AdvertisementBeijing is now trying to support the flailing Chinese stock markets by pulling a familiar move — cracking down on private sector activities. Remember — China's recent private sector enterprise crackdown wiped out over a trillion dollars from its tech sector alone and spooked entrepreneurs. China isn't the first to curb stock market activities — the US also cracked down on short-selling during the 2008 financial crisis. China's securities regulator said on Thursday it wasn't trying to interfere with trading activities, but will crackdown on "illegal activities" that disrupt market order.

Persons: —, They're, George Boubouras, isn't, Eswar Prasad Organizations: Service, Bloomberg, Asset Management, China isn't, Cornell University, International Monetary Fund, Nikkei Locations: China, Beijing, Hong, Melbourne

☆ 'Who TF Did I Marry?' — the 50-part TikTok that provides a cautionary tale about ignoring red flags
▼ + stars: | 2024-02-22 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

A therapist shared the reasons we can miss or ignore red flags when we're love bombed. ", Reesa Teesa calls the story of her ex-husband "the United Nations of red flags." "That's of course not true, because red flags can look differently in different people." It's always easier to spot red flags in hindsightWhile Teesa admonishes herself for missing so many red flags, Gillis highlighted that it's natural to spot all the red flags after a breakup. Advertisement"It is so common to look back in hindsight; "Oh, here are 120 red flags that I missed," Gillis said.

Persons: —, Teesa, Kaytee Gillis, Gillis, fIwWAZu3g5 — Ella Ella, @helenofchicago, there's, It's, Teesa admonishes Organizations: Service Locations: United Nations, London

☆ The economy's gone from strength to strength after the pandemic — but no one quite knows why, or what comes next
▼ + stars: | 2024-02-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

America has gone from a pandemic crash and recession fears to stocks at record highs and an economic boom. Lockdowns, wars, shortages, inflation, interest rates, day trading, and AI have all played a role. Noam Galai/SOPA/Getty ImagesMany Americans also socked away money during the pandemic, as they saved on expenses like travel and live entertainment. Stimulus-fueled demand, combined with pandemic and war-related supply disruptions, caused inflation to spike to a 40-year high of 9.1% in June that year. The Fed swiftly raised interest rates to rein in the price growth, lifting them from virtually zero to upward of 5% in under 18 months, and hasn't touched them since.

Persons: —, We've, Noam Galai, hasn't, It's, dory Organizations: Service, Federal Reserve, GameStop, AMC Entertainment, AMC, Bank Locations: America, China, Ukraine

☆ Britain Confronts Fears of a (Gasp!) Tea Shortage
▼ + stars: | 2024-02-14 | by ( Isabella Kwai | Jenny Gross | ) www.nytimes.com time to read: 1 min

For a country of morning-and-night tea drinkers, even the suggestion of a shortage of the household staple can elicit a nervous gulp. So there might have been more than a few people spooked when signs in some Sainsbury’s grocery stores this week warned customers that supply issues had affected the “nationwide” availability of black tea, as Houthi attacks on commercial vessels in the Red Sea caused shipping delays. Yorkshire Tea and Tetley Tea, two of the most popular tea companies in Britain, said in statements that they were monitoring the situation to ensure they could maintain supplies of black tea, but that orders were being fulfilled. “This is a critical period which requires our constant attention,” Tetley said in a statement. It said that it had implemented measures in recent months to mitigate any disruption to supplies because of shipping issues.

Persons: Tetley, ” Tetley Organizations: Yorkshire Tea Locations: Britain

☆ S&P 500 eclipses 5,000 for the first time—but you'd be smart to ignore the headlines, says CFP
▼ + stars: | 2024-02-09 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

The S&P 500 index closed above 5,000 for the first time on Friday, with investors showing continued optimism about cooling inflation, strong earnings and a resilient economy. Aside from being a big, round number, 5,000 isn't a particularly important threshold for the broad U.S. stock market barometer in and of itself. Financial pros say you'd be wise to avoid making any wholesale changes to your strategy based on short-term moves in the stock market. "Investors in general, but especially younger investors, should ignore the headlines about all-time highs in the S&P 500," says Kevin Brady, a certified financial planner at Wealthspire Advisors in New York City. Because they are not uncommon, meaning all-time highs more often than not lead to further all-time highs in short order."

Persons: we're, Dana D'Auria, Kevin Brady Organizations: CNBC, Wealthspire Advisors Locations: New York City

Apple | Spotify | Amazon | YouTube Listen and follow ‘Hard Fork’Bluesky, the Twitter spinoff, is now open for public sign-ups. Can its dreams of decentralization fix social media? We talk with the company’s chief executive, Jay Graber. Then, the New York Times reporter Erin Griffith on how Adobe’s failure to acquire Figma has spooked tech companies and upset Silicon Valley’s start-up pipeline. And finally, updates on ancient scrolls and artificial intelligence, Google’s chatbots, and the fight between record companies and TikTok.

Persons: Jay Graber, Erin Griffith, Figma, Google’s chatbots Organizations: Apple, Spotify, YouTube, New York Times

☆ Gauging the risk of contagion from NYCB and commercial real estate woes
▼ + stars: | 2024-02-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

The latest concern threatening regional banks started on Jan. 31, when New York Community Bancorp. reported unexpected fourth quarter loss and a large loan loss reserve against futures losses, due in part to the bank's commercial real estate (CRE) exposure. One worry is that the NYCB credit downgrade could spur ratings agencies to take a closer look at other banks, or cause clients to again pull deposits out of regional banks. Determining exactly how unique NYCB's exposure to commercial real estate is will be a key focus for investors and analysts in coming weeks. A note on Wednesday from Wolfe Research analysts focused on banks and commercial real estate showed that regional banks have in general reduced their commercial real estate exposure over the past 15 years.

Persons: NYCB, Ian Lyngen, hasn't, Lyngen, D.A, Davidson, Peter Winter, Winter, Macrae Sykes, Banks, They're, Sykes, Wells Fargo, Jerome Powell, Bond, Tom Fitzpatrick, RJ O'Brien, Fitzpatrick, — CNBC's Michael Bloom Organizations: Investors, New York Community Bancorp, Moody's, Street, Silicon Valley Bank, BMO, Treasury, Wolfe Research, UBS, Gabelli, CNBC Locations: Silicon, Wells

☆ New parents in South Korea are getting $750 every month as Seoul launches its 'birth encouragement' gambit to slow population decline
▼ + stars: | 2024-02-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Seoul officials on Tuesday announced a new "birth encouragement" program to raise fertility rates. New parents in South Korea are eligible for $750 per month until their baby turns 1 year old. After their child turns 1, parents will also be eligible for an allowance of $375 a month for one year. Nearly a fifth of South Korea's entire 51 million population lives in Seoul, where the fertility rate was 0.59 in 2022, per the latest government statistics. AdvertisementThe entire country's birth rate, by comparison, was 0.78 that year.

Persons: —, Yonhap, childrearing Organizations: Service, South Korean, Yonhap, South, Business Locations: Seoul, South Korea, China, Japan, South

NEW YORK (AP) — Adam Neumann, the ousted co-founder of WeWork, is exploring a deal to buy back the office sharing company after expressing dismay over its bankruptcy process. According to Monday's letter, Neumann and his affiliates have been attempting to obtain information from WeWork necessary for a purchase offer since December but have been met with a “lack of engagement” from the company. Neumann founded WeWork with Miguel McKelvey back in 2010. That debacle led to the ousting of Neumann, whose erratic behavior and exorbitant spending spooked early investors. Japan’s SoftBank stepped in to keep WeWork afloat, acquiring majority control over the company.

Persons: — Adam Neumann, Dan Loeb’s, WeWork, Neumann, “, Miguel McKelvey, Japan’s SoftBank Organizations: The Associated Press, Flow Global Holdings, Associated Press, WeWork, Street Journal Locations: —, New York

☆ What’s really going on with bank stocks
▼ + stars: | 2024-02-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Word quickly spread on Wall Street that the regional bank was under pressure, igniting a bout of selling of other bank stocks over fears of contagion. The KBW Regional Banking Index closed down 6% on Wednesday. Unlike many fellow regional banks, it held on to the vast majority of its deposits. He also highlighted that the banks’ losses were tied to faulty office building loans. The selloff that hit other regional bank stocks is “likely overdone given idiosyncratic factors tied to NYCB,” Bank of America analysts said in a note on Thursday.

Persons: Zions, NYCB, Thomas Cangemi, Chris Marinac, Janney Montgomery Scott, CNN he’s, ”, ” NYCB, That’s, It’s, isn’t, ” Marinac, “ Organizations: New, New York CNN, Federal Reserve, New York Community Bancorp, Western Alliance Bancorp, York Community Bancorp, Bank, CNN, ” Bank of America, Aozora Bank, First Republic, Valley Bank Locations: New York, ZION, York

☆ Hong Kong already has a national security law. Now its leader is pushing for another one
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Hong Kong on Tuesday formally began the process of enacting a controversial homegrown national security law in a move that could have deep ramifications for the city’s status as a global financial hub. Beijing’s national security crackdown of recent years has transformed once-freewheeling Hong Kong, silencing almost all dissent and jailing dozens of political opponents. Under Hong Kong’s mini-constitution agreed by the two powers, the city is required to enact laws to prohibit acts that endanger national security. “Foreign agents and Hong Kong independence ideas are still lurking in Hong Kong society.”Hong Kong Chief Executive John Lee speaks during a press conference at government headquarters in Hong Kong on January 30, 2024. The new security law could bring further uncertainty for Hong Kong, which is striving to maintain its status as Asia’s premier financial hub following three years of strict Covid restrictions and Beijing’s national security crackdown.

Persons: Hong, it’s, John Lee, ”, It’s, we’ve, ” Lee, Lee, Peter Parks, Chris Tang, ” Tang, Tang Organizations: Hong Kong CNN, Tuesday, Hong, CIA, British, Getty Locations: Hong Kong, Beijing, China, AFP, Hong Kong’s, East, West

☆ China courts global elite at Davos with largest presence in years
▼ + stars: | 2024-01-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Participants walk in the street of the Alpine resort of Davos during the World Economic Forum. Davos, SWITZERLAND — China returned to Davos in full force this week as it attempts to thaw relations with the international community and court investment following years of Covid-19 lockdowns and rising geopolitical tensions. A delegation led by Chinese Premier Li Qiang is estimated to be the largest since 2017, when President Xi Jinping led an 80-strong cohort of Chinese business leaders and billionaires up the Swiss mountain. Li went on to meet for lunch with a host of top business leaders, including the CEOs of JPMorgan, Bank of America, Standard Chartered and Blackstone. He was joined by several other high ranking ministerial representatives including the Deputy Foreign Minister Ma Zhaoxu and Commerce Minister Wang Wentao.

Persons: Premier Li Qiang, Xi Jinping, Li, Ma Zhaoxu, Wang Wentao Organizations: Economic, Premier, JPMorgan, Bank of America, Standard Chartered, Blackstone, People's Bank of China, CNBC Locations: Davos, SWITZERLAND, China

DES MOINES, Iowa (AP) — Squelching speculation of a third-party presidential run, former Maryland Gov. Larry Hogan on Sunday endorsed Nikki Haley for the GOP nomination, saying he feels she “is the strongest chance” for Republicans to win in November. Hogan, one of his party’s fiercest Trump critics, had fueled speculation that he was preparing for his own third-party bid when he stepped down from the leadership of No Labels. Hogan told AP he had no interest in a “kamikaze mission.”In the past two presidential elections, Hogan said he did not vote for Trump, the party nominee. Hogan said he wrote in the name of his father, former U.S. Rep. Larry Hogan Sr., in 2016 and the late President Ronald Reagan in 2020.

Persons: Larry Hogan, Nikki Haley, Hogan, CNN's, “, Donald Trump, Haley, ” Hogan, Joe Biden, Ron DeSantis, Trump, ’, Never, ”, Larry Hogan Sr, Ronald Reagan, ___ Meg Kinnard Organizations: DES, Maryland Gov, GOP, Republicans, Union, Iowa, Trump, Associated Press, Democratic, Florida Gov, Des Moines Register, NBC, DeSantis, Republican Party, ”, Never Trump Republicans, AP, U.S . Rep Locations: DES MOINES, Iowa, CNN's “ State, New Hampshire, South Carolina

☆ Who are the Houthis? U.S. and U.K. strikes thrust Iran-backed group into the global spotlight
▼ + stars: | 2024-01-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

SANA'A, YEMEN - DECEMBER 03: Members of the Houthi-run Military Special Forces guard during a funeral procession of Houthi fighters at Al-Sha'ab Mosque on December 03, 2023 in Sana'a, Yemen. The strikes come after the Houthis defied a warning to stop targeting international maritime vessels in the Red Sea, which has wreaked havoc on global trade. This includes the Bab el-Mandeb Strait, a crucial maritime chokepoint that connects the Red Sea with the Gulf of Aden. The militants claim their attacks in the Red Sea are in response to the ongoing war in the Gaza Strip. A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt.

Persons: Mohammed Hamoud, —, Netherlands —, Joe Biden, Allah, Hussein Badr Eddin, Yemenis, Israel, Michael Page, Mohammed Abdulsalam, Sayed Hassan Organizations: Special Forces, Al, Getty, The U.S . Air Force, U.S . Central Command, Gaza, Watch, Human Rights, Hezbollah, Sea Locations: SANA'A, YEMEN, Sha'ab, Sana'a, Yemen, Iranian, Red, The, United Kingdom, Australia, Bahrain, Canada, Netherlands, Islam, Sanaa, Saudi Arabia, Al, Gaza, Israel, East, North Africa, Mandeb, Aden, Iran, U.S, Palestine, Suez, Ismailia, Egypt

☆ These stocks are getting close to oversold territory
▼ + stars: | 2024-01-12 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

There may be buying opportunities in a few stocks getting hit after making headlines this week. The relative strength indicator, which measures the magnitude and speed of price moves, is a popular metric used to evaluate whether shares are overbought or oversold. A stock with a 14-day RSI below 30 is considered oversold, suggesting that it could be a promising entry point for investors. The full oversold list While many noteworthy S & P 500 stocks are on the verge of being oversold, just two actual have RSIs below 30: Baker Hughes and Bunge Global . Here's the full list of overbought stocks: THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Tesla, Morgan Stanley, FactSet, Dave Calhoun, Baker Hughes Organizations: Reuters, Hertz, Tesla, Boeing, Alaska Airlines, Federal Aviation Administration, Max, Bunge, CNBC, Juniper Networks, Traders, Hewlett Packard Enterprise, Pharmaceutical Locations: Red, China, Saudi Arabia

☆ China's Meituan lost $82 billion in market cap amid rising competition, slowdown in food delivery business
▼ + stars: | 2024-01-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A food delivery courier for Meituan in Beijing, China, on Tuesday, Aug. 22, 2023. Source: BloombergSince the beginning of 2023, Chinese food delivery leader Meituan has lost a staggering $82 billion in market capitalization, as fears over increasing competition and a warning from its management about a slowdown in its main food delivery business have spooked investors. The tech giant's market cap has tumbled nearly 60% to 441.06 billion Hong Kong dollars ($56.4 billion) from HK$1.08 trillion ($138.2 billion) at the beginning of 2023, according to LSEG data. The company still dominates China's food delivery industry, with almost 70% of the market share in the mainland, according to 2022 data from research firm ChinaIRN. But competition has been rising, especially from Alibaba -owned Ele.me, another prominent food delivery company in China.

Persons: Meituan, Shen Organizations: Bloomberg, Hong Kong, HK, CNBC Locations: Beijing, China, Ele.me

☆ Boeing Again Under Scrutiny After Latest 737 Max Problem
▼ + stars: | 2024-01-07 | by ( Niraj Chokshi | ) www.nytimes.com time to read: 1 min

A harrowing flight over the weekend is again forcing Boeing to confront concerns over its planes, particularly the 737 Max, already one of the most scrutinized jets in history. No one was seriously injured in the episode on an Alaska Airlines flight Friday night in which a portion of a 737 Max 9 fuselage blew out in midair, exposing passengers to howling wind. The plane landed safely, but the event, on a flight from Portland, Ore., to Ontario, Calif., has spooked travelers and prompted immediate safety inspections on similar planes. Federal authorities focused attention on a mid-cabin door plug, which is used to fill the space where an emergency exit would be placed if the plane were configured with more seats.

Persons: Max Organizations: Boeing, Alaska Airlines Locations: Portland ,, Ontario, Calif

☆ Fiscal rules revamp may threaten calm in euro zone's fragile bond markets
▼ + stars: | 2023-12-04 | by ( Stefano Rebaudo | ) www.reuters.com time to read: +5 min

Analysts believe Germany's budget crisis will mean tougher fiscal policy in the largest euro zone economy in 2024, which could add to pressure on less wealthy members of the bloc to keep a tighter grip on their finances. Italian 10-year bonds currently yield around 173 basis points more than German debt , 38 bps less than a year ago, while the gap between Portuguese and German yields has narrowed by 34 basis points. French bonds meanwhile yield 58 bps more than German, 5 bps more than a year ago. Analysts argued the German public may be unwilling to accept a tightening of domestic fiscal policy without a blanket approach across Europe - meaning a tougher scenario for the periphery. Bondholders are meanwhile banking on the European Central Bank cutting interest rates in a few months, which should support euro zone peripheral debt.

Persons: Giorgia Meloni, Olaf Scholz, Fabrizio Bensch, Ruben Segura, BofA's Segura, Cayuela, Felix Hubner, Massimiliano Maxia, Stefano Rebaudo, Catherine Evans Organizations: Italian, REUTERS, Germany, Union, Northern, European Commission, UBS, Analysts, European Central Bank, JPMorgan, ECB, Allianz Global Investors, bps, Thomson Locations: Berlin, Germany, Italy, Cayuela, European, Greece, Spain, Europe

☆ Gold prices have never been this high
▼ + stars: | 2023-12-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Gold prices hit an all-time high Monday, buoyed by growing expectations of interest rate cuts among investors, a weaker dollar and geopolitical tensions. “This has created a more favorable environment for gold as a non-yielding asset.”John Reade, a market strategist at the World Gold Council, an association of gold producers, told CNN that, with investors predicting several rate cuts over the next year, gold prices could “quite possibly” shoot above Monday’s record high. Since gold is priced in US dollars, the fall in the greenback’s value has made it less expensive for investors outside the United States to buy the metal, which should have boosted demand and, in turn, lifted gold prices. Gold prices have risen 10% so far this year. According to the World Gold Council, central banks in emerging markets bought 473 metric tons (521 tons) of gold a year on average between 2010 and 2021.

Persons: ebbs, Daria Efanova, ” John Reade, Jamie Dimon, ” Reade, “, Reade, ” Organizations: London CNN —, US Federal Reserve, Treasury, Sucden, World Gold Council, CNN, Interactive Investor Locations: United States, Russia, Ukraine, Israel, Gaza, China, South China, Taiwan, Russian

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