The level of cash holdings held by fund managers hit its highest since November 2001, according to a June Bank of America Merrill Lynch survey. Elevated cash holdings are typically associated with recessions.
It said the number of bond defaults in the year to date period has already exceeded the total for all of 2015, with more than 20 bonds in default after more than 10 issuers missed their interest or principal payments.
The BOJ cut its inflation forecasts in a quarterly review of its projections, and once again pushed back by six months the timing for hitting its 2 percent price target, saying it may not happen until March 2018 at the latest.
Future upstream development spending from 2015 to 2020 has dropped by 22% since oil prices started to fall in late 2014
George Soros said the pound may slump more than 20 percent against the dollar if Britain votes to leave the European Union, a devaluation bigger and more disruptive than when the billionaire profited by betting against the currency in 1992.
Latest Reserve Bank of Australia data shows in April this year credit card limits rose to $149.16 billion — up a massive $4.6 billion in just 12 months.
THE Chancellor has been left red-faced after Britain’s debt surged to £1.606 TRILLION last month, as the Government continues to borrow billions more than expected, figures revealed today.
Venezuela is “highly unlikely” to have enough hard currency to fully make its debt payments this year, although a default isn’t inevitable, according to a report from Moody’s Investors Service.
Oi SA filed for bankruptcy protection on 65 billion reais ($19 billion) in debt — a Brazilian record — after failing to reach an agreement with creditors, the last straw following a long saga of mergers and leadership changes.
Some of the world’s most prominent investors are making increasingly bearish noises regarding the health of global financial markets. Could another financial crisis be looming?
Citing the words of Felix Hufeld, the boss of the Federal Financial Supervisory Authority, Germany’s equivalent of the UK’s Financial Conduct Authority, Citi argues that the “seeping poison” could mean that many institutions, especially money market funds — funds comprised of safe, short-term debts often used by retail investors as a way of making money on a very safe investment — are no longer viable in the long term.
Pressure to reach a deal with governors intensified last week when Rio de Janeiro declared a state of emergency just as it gears up to host the Summer Olympics, cautioning of a “total collapse of public security” if it didn’t receive financial assistance soon.
The British pound GBPUSD, -0.1293% pulled back from a five-month high to slip back below $1.47 after news reports said the latest Survation Brexit poll for IG Group showed 45% of voters backed remaining in the European Union versus 44% who favored leaving.
Gold & Silver
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