May 15, 2023
Debt-Limit Default Risk Is Higher Than Ever. How Can You Safeguard Your Wealth?
The risk of a US debt default is greater than it’s ever been, threatening to tip global markets into a brand-new world of pain. For investors, there are few places to hide other than the oldest hedge in the book: gold.
The precious metal is by far the top pick for those seeking protection in case Washington’s game of chicken over the debt ceiling ends in a crash, according to Bloomberg’s latest Markets Live Pulse survey. More than half of finance professionals said gold is what they would buy if the US government fails to honor its obligations.
UK ‘Greedflation’ Concerns are Groundless, Ex-BOE Ratesetter Says
British companies are not taking advantage of households by using double-digit inflation as cover for unnecessary price increases to boost their profits, according to analysis by a former Bank of England rate setter.
Michael Saunders, a senior economic adviser at Oxford Economics, said that the UK is not suffering from so-called “greedflation,” contrary to claims by politicians and evidence from the US and euro zone suggesting that firms there are squeezing consumers more than needed in a cost-of-living crisis.
Hong Kong Mortgage Battle Sees Banks Go Big on Cash Handouts
Fierce competition for new mortgage customers is driving banks in Hong Kong to offer the highest cash rebates in nearly two decades.
The deals — offered as a percentage of the principal loan amount — ramped up from about 1.3% last year to as much as 2.6% currently, the highest in over 17 years, according to Centaline Mortgage Broker data.
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