Pandemic Pandemonium May Be “More Destructive” Than The 2008 Lehman Financial and Economic Collapse

Gold in USD, GBP and EUR before, during & five years after Lehman

“Coronavirus may be more destructive than the Lehman crisis” and
“recession is imminent” warns Ambrose Evans-Pritchard in the Telegraph

◆ The outbreak has triggered a collision of unstable debt and the oil price crash is combining with a worrying level of corporate debt that is frightening Wall Street

◆ The coronavirus has set off two parallel “doom loops”. An oil price crash and an Italian economic crisis which will lead to a Eurozone financial and banking crisis

The outbreak has triggered a collision of unstable debt and an oil price crash. Recession is imminent

The coronavirus has set off two parallel “doom loops”. An oil price crash is colliding with an unstable edifice of corporate debt. At the same time the closure of Italy’s economic heartland is triggering a surge in Italian risk spreads and an intertwined collapse in European bank shares. 

The twin shocks come just as markets wake up to the grim reality that the US and Europe have missed their chance to control the pandemic.  

A global recession of some form is no longer a tail-risk. It is imminent and inescapable. That is the screaming verdict of safe-haven bond markets. The collapse in yields on 30-year US Treasuries to historic lows of 0.51pc – touching a morning nadir of 0.32pc – is a red warning of deflation…


Continue reading this article on The Telegraph here




NEWS & COMMENTARY

Gold falls 1% as global stimulus hopes boost risk assets

Gold Could Reach $1,725 in Second Quarter, Says StanChart’s Cooper


Dow futures point to opening bounce of 1,000 points after Trump floats payroll tax cut

Rush to safety abates for now, pushing up euro zone bond yields


Dollar extends gains but oil and coronavirus pose major risks

Oil jumps 5% after rout on stimulus hopes, slowing virus in China

Today at least may end the pretense of a market economy



GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

09-Mar-20 1676.60 1672.50, 1280.75 1272.94 & 1469.04 1462.10
06-Mar-20 1687.00 1683.65, 1296.80 1290.85 & 1490.13 1484.31
05-Mar-20 1647.45 1659.60, 1274.47 1284.70 & 1474.63 1482.69
04-Mar-20 1644.80 1641.85, 1286.73 1281.63 & 1475.06 1477.83
03-Mar-20 1599.05 1615.50, 1249.98 1260.25 & 1438.03 1446.03
02-Mar-20 1609.70 1599.65, 1258.79 1251.41 & 1451.47 1437.29
28-Feb-20 1626.35 1609.85, 1262.37 1254.88 & 1474.61 1468.18
27-Feb-20 1646.60 1652.00, 1278.58 1282.45 & 1505.32 1504.97
26-Feb-20 1647.95 1634.90, 1273.37 1264.76 & 1515.45 1505.42
25-Feb-20 1655.90 1650.30, 1275.54 1271.39 & 1528.06 1522.73



Financial Contagion – What Are The Risks?



Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here


Mark O'Byrne

Also on news-goldcore-com

Videos

When will Silver Break Out? Is Triple Digit Silver Still on the Cards?

Is Gold Still in a Bull Market?

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

Blog posts

Quantitative Easing: A Boon or Curse?

Central banks’ massive Quantitative Easing (QE) programs have come under scrutiny many times since the central banks fired up the printing press and began quantitative easing programs en masse after the 2008-09 Great Financial Crisis. However, the increase in central bank assets due to quantitative easing programs during the crisis pale in comparison to the […]

READ MORE

The Fed’s Inflation Gamble Continues

The fed’s inflation gamble continues… Are central banks trapped? Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price. Fed on Economic Recovery The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed […]

READ MORE

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

When will Silver Break Out? Is Triple Digit Silver Still on the Cards?

Is Gold Still in a Bull Market?

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

Blog posts

Quantitative Easing: A Boon or Curse?

Central banks’ massive Quantitative Easing (QE) programs have come under scrutiny many times since the central banks fired up the printing press and began quantitative easing programs en masse after the 2008-09 Great Financial Crisis. However, the increase in central bank assets due to quantitative easing programs during the crisis pale in comparison to the […]

READ MORE

The Fed’s Inflation Gamble Continues

The fed’s inflation gamble continues… Are central banks trapped? Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price. Fed on Economic Recovery The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed […]

READ MORE

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE