Global Intelligence
By Tyler Durden, For those curious who will pick up Russia’s trade slack now that most western nations have shunned the Putin regime, here’s your answer. On Wednesday, China revealed that overall trade with Russia soared to 243.03 billion yuan ($38.18 billion) in January-March, up 27.8% from a year earlier. It wasn’t just Russia however, […]
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By Tyler Durden, Was that it for the oil plunge? Having nearly reversed all of the post-Ukraine gains following its latest 4% drop on Monday, oil staged a powerful recovery on Tuesday as traders weighed China’s demand outlook following the easing of some virus restrictions in the financial hub of Shanghai, while tensions over the […]
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By Tyler Durden, California electricity rates are increasing far faster than the rest of the country. Last year, electricity prices rose 1.7 times faster than the rest of the county, and residential prices jumped 2.7 faster. These increases are terrible news for residents who want to swap their combustion engine vehicles for electric ones. […]
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By Tyler Durden, On Saturday, rating agency S&P cut its rating on Russia to “Selective Default” on Saturday after the Russian government said last week that it had repaid about $650 million in dollar-denominated debt in rubles (the payment was contractually due in dollars but Russia claims that sanctions make payment impossible). The downgrade to what is […]
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By Tyler Durden, The poor are suffering most from inflation, even though their wages have risen by the largest percentage… as the ‘money illusion’ takes hold across America… Money illusion is an economic theory positing that people have a tendency to view their wealth and income in nominal dollar terms, rather than in real terms. In other words, it is assumed that people do […]
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By Tyler Durden, First Russian gold and silver, then diamonds, now platnium and palladium. On Friday, newly refined Russian platinum and palladium was suspended from trading in London, denying Russia access to the metals’ biggest trade hub in the latest in a growing list of measures against Russian interests because of the conflict in Ukraine. Of course, […]
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By Tyler Durden, In a world of heightened risks, investors often lean into ‘stores of value’ as a way to insulate capital from elevated volatility. So far, in 2022, gold has once again proven to be a preferred ‘store of value’ with the commodity gaining 5.7% YTD (even as the S&P has lost 6% of […]
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By Tyler Durden, Oil prices have been volatile so far today but are higher for now after dropping on headlines from Bloomberg reporting that the International Energy Agency plans to deploy 60 million barrels of crude on top of the huge stockpile release already announced by the Biden Administration. Overnight saw dismal data from China which reinforced demand anxiety. […]
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By Tyler Durden, As Washington casts about for ways to tighten the financial screws on Russia, the Treasury late last night announced another measure to try and isolate Moscow from the international financial system. Per Reuters, the Russian state will no longer be allowed to make dollar debt payments from its accounts at US banks going forward. […]
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By Tyler Durden, Via The Epoch Times, It is not possible to “completely nullify” the pressures on energy prices, a Cabinet minister has said, as demonstrators gather across the country over the cost-of-living crisis. But Northern Ireland Secretary Brandon Lewis said the Government is “looking… across the board at what we’re doing with the public’s money”, and will “put in […]
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