Bloomberg Analyst: High Gold-Silver Ratio Signals Potential Double Loss Scenario for Risk Assets
On May 21, it was reported that Mike McGlone, a senior commodity strategist at Bloomberg Industry Research, stated that the gold-silver ratio typically peaks when the Federal Reserve ends its easing policy—on May 20, the gold-silver ratio reached 100, approaching the highest historical quarterly closing level (113 in the first quarter of 2020). Unlike past peak periods, the current situation lacks the key element of Federal Reserve easing, which may indicate a double loss scenario for risk assets. The current gold-silver ratio (around 100) has limited predictive significance for economic trends—if the gold-silver ratio, which reached 100 on May 20, remains above 91.5 at the close of 2025, it will set a record for the highest year-end ratio, which usually indicates an unfavorable global economic outlook. Peaks in this ratio were observed during the U.S. recessions of 1990-91 and 2020, but this time a critical precondition is missing, namely, the Federal Reserve's easing policy has not yet bottomed out.
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BUZZ-Delta Air Lines shares fall after sharply lowering full-year earnings guidance
Latest Updates October 9 – ** Delta Air Lines (DAL.N) shares fell 3% to $79.67 ** Delta Air Lines (DAL) (link) lowered its full-year adjusted profit forecast due to soaring jet fuel prices ** Peer companies United Airlines (UAL.O) and Alaska Airlines (ALK.N) shares both fell about 2.8%, while American Airlines (AAL.O) was down 2.4% ** The U.S. airline now expects 2026 adjusted earnings per share to be between $5.10-$5.60, compared to a previous expectation of $6.5-$7.5 per share ** The midpoint of the current range is $5.35 per share, below analysts’ expectation of $5.46 per share — according to data compiled by LSEG ** DAL expects its full-year fuel costs to increase by about $6 billion, up from the previous forecast of a $4 billion increase ** The company’s third-quarter adjusted earnings per share were $1.72, missing the $1.75 estimate, marking its first quarterly profit miss in two years ** Analysts tracking DAL on average give it a "Buy" rating ** As of Thursday's close, Delta Air Lines (DAL) has risen 18.4% year-to-date, the highest gain among major U.S. competitors (For the convenience of non-native English speakers, this Reuters report is automatically translated into several other languages. Due to possible errors or missing context in machine translations, Reuters makes no guarantee as to the accuracy of the translated text, which is provided for reader convenience only. Reuters is not responsible for any damage or loss caused by the use of automated translation features.)
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