Good Reads
Gold price falls nearly 3% as CPI tops forecasts, lifting dollar and yields
Gold prices fell nearly 3% on Tuesday after hotter-than-expected US inflation data lifted the dollar and Treasury yields while reinforcing expectations of a bigger interest rate hike from the Federal Reserve this year. Read on »
Paraguay Banking Crisis: A Lesson in Counterparty Risk
The Paraguayan central bank shut down Ueno after investigators discovered questionable loans to companies with inadequate collateral and weak documentation. According to the Guardian, Ueno had half the solvency necessary to meet its obligations. Read on »
Gold reserve repatriations don’t mean central banks are de-dollarizing
The highly publicized central bank gold reserve relocations and repatriations by the Netherlands, France, and Germany in recent years have had little impact on their U.S. dollar reserve allocations, according to Colin Weiss, Principal Economist for Global Financial Flows at the Federal Reserve. Read on »
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