Tuesday, October 20, 2020

Monday, October 19, 2020

  • Commodities looking seriously undervalued.


The Transportation Security Administration (TSA) screened over 1 million passengers Sunday, representing the highest number of passengers screened at TSA checkpoints since March 17, 2020.

Sunday, October 18, 2020

  •  And this From The Financial Times

Daily / Weekly Charts  - are up to date

Weekly / Monthly Charts - are up to date

The British pound could become interesting in the next few days. 
Bloomberg says that Financial firms operating in the U.K. have already shifted about 7,500 staff and more than $1.6 trillion of assets to the EU. Meanwhile Boris says “get ready for a no-deal Brexit”. (However no-one believes a word Johnson says) 

  •  Dow Trend is up to date - and declares DJI is  cheap.

While fear is running high.

  •  Tanker Rates still strong - storage demand..

Saturday, October 17, 2020

I think most daily charts are up to date. 

The weekly stuff should be up to date by tomorrow evening some time.

  •  Italy - has the best borrowing terms since the year 1310.

Economist: Ivory Coast was named after the product of its abundant elephants. But data published in PLoS ONE , a journal, show how much has changed since colonial days. Researchers drew on dung counts, interviews with local experts and media reports to take the first census of Ivorian elephants in a decade. The situation is dire. They estimate that there are just 225 forest elephants left in the country, a fall of 86% since 1994. Worse, they could only confirm the presence of elephants in four of 25 protected areas.

Friday, October 16, 2020

 Moody’s downgrades UK one notch to Aa3 stable outlook from Aa2 with negative outlook on low growth, high debt and fractious policy environment. Expects govt debt to GDP ratio to peak at 112% by year-end. Sees govt deficit of 18.5% for this year and 7.4% for 2021.

  • The China Containerized Freight Index Composite is making 5 year highs


 Quick Overview is up to date

  • To cheer every body up - a picture of a new record. I can already hear  the blaring and screaming from the GOP next year , about the deficit -  should they fail in November.

  • Or, perhaps, you would prefer this one - a bit further back.

  •  Zero commissions, stuck at home, attempting to make ends meet...

  • FT: This was the week we witnessed the funeral of austerity. 
  • The IMF and World Bank are urging richer countries to spend their way out of the pandemic, although some developing nations continue to face cuts 
  • The U.S. budget deficit hit a record $3.132 trillion during fiscal 2020, more than triple the 2019 shortfall, as a result of massive coronavirus rescue spending, the U.S. Treasury said on Friday.
  • The deficit more than doubled the previous record of $1.416 trillion in fiscal 2009, when the United States was battling a financial crisis. 
  • Median weekly earnings of the nation's 109.7 million full-time wage and salary workers were $994 in the third quarter of 2020 (not seasonally adjusted). This was 8.2 percent higher than a year earlier, compared with a gain of 1.2 percent in the CPI-U.
  • Boris Johnson just told the U.K. to prepare for a no-deal Brexit. 

  • Japan plans to release Fukushima water into the Pacific Ocean 

  • The Covid-19 treatment remdesivir has no substantial effect on a patient’s chances of survival, a clinical trial by the World Health Organization has found. 

  • Retail sales above expectations at 1.9% - Good news on consumption at a time when many people have lost extra benefits.

  • Global Clean Energy  - performing as advertised.

  •  and so is Coal

The extra $600 per week in jobless benefits doubled the savings of unemployed Americans in July. However, a month after the payments ended, they burned through most of that. So, pointing out the obvious, unless new emergency funds are forthcoming, household spending will get tight. And so far, it seems not to be forthcoming.