Futures Jump Ahead Of Yellen Hearing, Hong Kong Stocks Soar
Global markets and S&P futures rebounded overnight, continuing their advance during Monday’s MLK holiday and recouping all of their Friday losses, tracking gains for shares in most of Europe and Asia on the back of frenzied buying Hong Kong shares by mainland China investors, as traders awaited a speech by Treasury Secretary nominee Janet Yellen…
Chinese Lockdowns Trigger "Chaos And Panic" At Grocery Stores As Prices Soar 50%
China’s battle with increasing coronavirus caseloads hitting ten-month highs has undoubtedly clouded the economic recovery while officials have lockdown more than 28 million people across multiple municipalities, reported Reuters. Hebei officials have put three cities – Shijiazhuang, Xingtai, and Langfang – into lockdowns last week to mitigate the virus from spreading further. Beijing authorities expanded…
Stocks, Bond Yields, & Crypto Soar Amid Payrolls Plunge, "Damaged" Democracy, & Biden's "Trillions"
So, the first week of the year brought us – the worst first day for stocks in two decades, the “darkest day in American democracy”, a dismal jobs print (far worse than expected), ISM beats that were almost entirely predicated on model misattribution of global supply chain disruptions, a blue-sweep of government (fiscal-palooza), and the…
Treasury Yields, Bitcoin And Small Caps Soar; Tech And Dollar Tumble On Possible Georgia Blue Sweep
Bond yields, bitcoin and small cap stocks surged while tech stocks and the dollar tumbled on Wednesday on the prospect of more stimulus and tougher tech regulation if Democrats take control of the U.S. Senate following a run-off election in Georgia. Stocks in Europe rose and those in Asia were mixed as traders digested what’s…
Breakevens Soar To 2-Year High As Inflation Expectations Spike, Real Rates Crater
The breatheless rally in the 10Y Breakeven rate since the March lockdown lows has continued, and on Tuesday morning it hit a high of 2.03%, the highest level since December 2018. This even as real rates – which are determined by TIPS – have cratered to -1.09%, the lowest level this century. Validating expectations for…
US Troops In S.Korea First To Receive Mass Vaccination As Host Country Cases Soar
The first large-scale Pentagon vaccination effort of US troops stationed abroad is focusing on units stationed in South Korea, according to US Forces Korea (USFK), where they daily stare down a nuclear North Korea. An official USFK statement reported in AFP said the military “administered initial doses of the Moderna vaccine for military and civilian healthcare workers,…
Home Prices Soar At 3 Times The Fed's Inflation Target Across All US Cities
The Fed’s most frequent lament is that no matter how many trillions in bonds (and stocks and ETFs) it buys or how much liquidity it forehoses into the market, it just can’t push broader inflation higher. Well, here’s an idea: maybe all the central-planning megabrains at the Marriner Eccles building and 33 Liberty Street can…
Mobile Home Frenzy: RV Shipments Soar 43% In November
America’s RV craze continues. According to the RV Industry Association’s survey of North American manufacturers, all-towable RV shipments soared 46.3% in November to 38,485 from 26,297 a year earlier, All motorhome shipments rose 20.3% last month to 4,028 from 3,347, and total RV shipments grew 43.4% in November to 42,513 from 29,644. As Americans can…
Israeli Submarine 'Openly' Crosses Suez Canal Toward Persian Gulf As Iran Tensions Soar
Israeli media is widely reporting early this week than an Israeli submarine in an unprecedented move has openly traversed the Suez Canal en route to the Persian Gulf as a show of force “message” to Iran. On Tuesday The Jerusalem Post detailed that “An IDF Navy submarine crossed the Suez Canal last week as a direct message to Iran,…
Uranium Stocks Soar After World’s Highest-Grade Uranium Mine Suspends Operation Due To COVID
In the past week, we discussed why uranium stocks – which had been left for dead for much of the past decade – could surge in coming months, not only as a result of last week’s compromise version of the annual National Defense Authorization Act, which provides for the military to continue a policy under…
Uranium Stocks Soar: Is This The Beginning Of The Next ESG Craze
Uranium stocks soared on Friday after House and Senate lawmakers revealed a compromise version of the annual National Defense Authorization Act. According to S&P Global, the bill effectively provides for the military to continue a policy under President-elect Joe Biden that classifies the domestic supplies of certain minerals such as uranium, graphite and lithium as…
Nikola Shares Soar On GM MOU
Nikola signed a non-binding Memorandum of Understanding with General Motors for a global supply agreement related to the integration of GM’s Hydrotec fuel-cell system into Nikola’s commercial semi-trucks. Notably, the MOU does not include the previously contemplated GM equity stake in Nikola or development of the Nikola Badger. Full Nikola Press Release: Nikola Corporation (NASDAQ:…
House Down Payments Soar To 20 Year High As Banks Crack Down On New Loans
American homebuyers have to pony up even greater amounts of money for a down payment due to tightening credit standards and skyrocketing home prices. According to Bloomberg, citing a new report from Attom Data Solutions, the median down payment for a single-family home is $20,775 for the third quarter, the most in at least two decades…
Thanksgiving Dinner Costs Soar In 2020
Authored by Adrian Mak via AdvisorSmith.com, With the Thanksgiving holiday fast approaching, Americans around the country are preparing their menus for the traditional holiday. This year, Thanksgiving celebrations may be a bit different given the effects of the coronavirus pandemic leading to smaller family gatherings with fewer people and potentially less holiday travel. Additionally, the…
Initial Jobless Claims Rise For 2nd Week In A Row, Pandemic Claims Soar
By Tyler Durden For the second week in a row, the number of Americans filing for first time unemployment claims has risen (printing at 778k vs 730k exp and 742k prior)… Source: Bloomberg Illinois, Michigan, Washington, and California (all Democrat-run) were the states that suffered the largest surge in initial claims while Louisiana and Massachusetts…
Dow, S&P, & Bitcoin Soar To Record Close As Dollar & Gold Sink
Consumer Confidence tumbled… Source: Bloomberg …COVID cases are soaring, lockdowns are crushing small businesses, and ‘hope’ is fading fast… Source: Bloomberg …so Buy The F**king Record Highs in stocks and dump the dollar, bonds, and gold (because who needs ‘protection’ when there is Yellen, vaccines, and stimulus-y hopes). As we noted earlier, The Dow topped…
Initial Jobless Claims Re-Accelerated Last Week, Pandemic Claims Continue To Soar
November 19, 2020 By Tyler Durden ‘Only’ 742,000 Americans filed for first time unemployment claims last week – breaking a 4-week streak of drops as perhaps the second-wave lockdown impacts are starting to be evident… Source: Bloomberg Louisiana saw the biggest surge in jobless claims while Illinois and Florida saw the biggest drops… Continuing claims…
Existing Home Sales Soar To Highest In 15 Years
Existing home sales bucked the trend in September (rising to highest since May 2006 as new- and pending-home sales slipped) and analysts expect it too catch down a little in October, but yet again, it surprised to the upside, surging 4.3% MoM (vs a 1.1% MoM expected drop), and September’s jump was revised higher to…
Pandemic Emergency Jobless Claims Soar To New Record High
November 5, 2020 By Tyler Durden Initial Jobless Claims rose by 751k last week, very slightly lower than last week’s upwardly revised 758k rise, but still around four times the pre-COVID-lockdown norms… Source: Bloomberg Continuing Claims improved for the 8th week in a row to its lowest since March… Source: Bloomberg But, as continuing claims…
This Is Just The Start”: US Bankruptcies Soar 48% In May, Most Since Financial Crisis
All that was missing was a catalyst; one which according to & Bloomberg & arrived in late May as retail landlords started sending out thousands of default notices to tenants, who in turn experienced a collapse in foot traffic, sales and cash flow due to the COVID-19 pandemic, and were simply unable to pay their…