Friday, January 22, 2021

Notes Today:

  • The notable drop-off in Chinese iron ore demand may be behind AUD’s recent bit of weakness.
  • The IHS Markit Manufacturing PMI for the US jumped to 59.1 in January of 2021 from 58.3 in December and well above market forecasts of 56.5.

  • Sales of previously owned houses in the US rose 0.7% MoM to 6.76 million units in December of 2020, beating market forecasts of 6.55 million. The median existing-home price was $309,800, up 12.9% YoY

  • Bloomberg: “I have received calls from every building with Trump on it in the city trying to get it removed,” Bailey said. “Over time in New York, Donald Trump has not been very popular and New York is about money, so having Trump’s name on the building reduces its value.” 
  • Bloomberg: Trump’s campaign paid more than $2.7million over two years to individuals and firms that organized the Jan. 6 rally that led to rioters storming the U.S. Capitol, according to the Center for Responsive Politics. 

  • AT&T gains on report of talks to sell minority DirecTV stake to TPG. T is reporting Wednesday morning. (I enjoyed HBO Max the Flight Attendant)

  • A hacker hacked sensitive information from Intel’s website, prompting the company to report the numbers earlier than planned. Hopefully Pat Gelsinger can get INTC’s act together – I’m expecting the answer to be yes. 

  •  MoM Retail sales in Australia fell 4.2% 

  • Japan Manufacturing PMI fell to 49.7 In December. 

  • New Zealand inflation running at 1.4% currently. 

  • (MW) Biden’s plan to make community college free and four-year public college tuition-free for students from households earning $125,000 or less would increase Americans’ disposable income by $61 billion, according to an analysis published this week by the Campaign for Free College Tuition and Rise, an advocacy organization focused on college affordability and other youth and student issues. 

Wednesday, January 20, 2021

The best first-day reaction to an elected president’s inauguration since Jan. 20 became the official start in 1937. (Bloomberg)

 Good Riddance !

Saturday, January 16, 2021

Quick Overview is up to date

Notes Today: 

  • Looks like another $1400 may be coming to some 150 million Americans - encouraging additional speculation - for some. 

  • Bloomberg: Norway expressed increasing concern about the safety of the Pfizer Inc. vaccine on elderly people with serious underlying health conditions after raising an estimate of the number who died after receiving inoculations to 29.
  • Bloomberg: The Treasury market’s bears had better take notice: There’s a wall of global cash poised to swoop in and buy, likely limiting the upside in yields. 

  • A new ETF ARK Space Exploration ETF (ARXX) is getting ready to launch and creating buzz. ARK's will primarily track companies engaged in space exploration and innovation.
  • The Port of Long Beach reported its busiest year in 2020. IT moved a record 8.1 million TEUs in 2020 despite facing headwinds from the COVID-19 pandemic and the ongoing trade war with China. 

  • FT: The cost of shipping goods from China to Europe has more than tripled in the past eight weeks as a shortage of empty containers stemming from Covid-19 disrupts global trade

  • The China Containerized Freight Index continues higher

Wednesday, January 13, 2021

Dow Trend Earnings (aka Fed model) is up to date, and ready for your perusal.

Tuesday, January 12, 2021


Notes Today: 

  • Twitter has suspended 70,000+ accounts linked to QAnon. 

  • Google suspends Trump's YouTube account and  disables comments. 

  • The U.S. trade deficit jumped to $68.1 billion in November, the highest monthly deficit in 14 years... 

  • Soybeans are above $14 per bushel for the first time since June 2014 on shrinking global supplies and strong demand. If Brazil and Argentine stay dry – there is no telling how high.  (See below)

  • McConnell, the Senate majority leader, has told associates that he believes President Trump committed impeachable offenses. 

  • SouthKorea Unemployment Rate at 4.6%, above expectations (3.9%).

Long term look at soybeans & USDA report today;

Saturday, January 09, 2021

The American Abyss

 A historian of fascism and political atrocity on Trump, the mob and what comes next. NYT

Friday, January 08, 2021

Twitter says it has "permanently suspended" Trump's account "due to the risk of further incitement of violence. S&P is higher..
I think I'll have a couple more scoops of UL  !
Ben & Jerry's Urge 25th Amendment, Trump Impeachment After Capitol Riots

Wednesday, January 06, 2021

Notes Today: 
  • Facebook declares DC situation an "emergency," MULLS stronger action. “The plague on humanity” is mulling. 
  • Twitter is locking trumps account for 12 hours. Wow, a full 12 hours. 
  • Trumps senators are beginning to climb down. Soon it’ll be trump who? No, that was premature, the BS continues.
  • Congratulations to Senators Warnock & Ossoff. Well done Georgia for showing the world the civilized side of America.


Absolutely sickening to watch GOP members clapping at this anti- democratic charade!

Tuesday, January 05, 2021

 Notes Today:

  1. The NYT has the probability of Warnock and Ossoff winning in Georgia at over 95%. 👍

  • Fed's Evans says 3% inflation wouldn't be bad. Yes it would! 

  • China vowed to expand domestic crop production and strengthened its plan to ensuring grain and food security after imports surged to unprecedented levels. 

Monday, January 04, 2021

Notes Today: 

  • US Construction spending rose 0.9% in November, reflecting a surge in demand from buyers taking advantage of ultra-low interest rates or leave cities for more space during a pandemic. Spending on new homes rose 16.2% YoY.  

  • The US cost of buying a home climbed to the highest level in six years. 

  • US Manufacturing PMI climbed to 57.1 in December from 56.7 in November.  

  • Expected higher inflation ahead along with sovereign/corporate debt that’s out of hand is helping precious metals.

Sunday, January 03, 2021

As of tonight, for around $35,000 you can buy: 

1 Bitcoin  


1.15 Shares in the DJIA

18 oz of gold

1230 oz of silver

2600 bushels of soybeans

5400 bushels of wheat

7000 bushels of corn


All  # rounded up or down a bit.



Ben Rhodes
Pretty remarkable how much more commitment to democracy the Georgia Secretary of State has than almost the entire House and Senate Republican caucus

Saturday, January 02, 2021

 And another remarkable chart: The PHLX SOX Semiconductor ETF

 Interesting long term chart of the Nikkei

The "memorable" 11 Republican senators that say they'll "vote on January 6 to reject the electors" from certain states. Ted Cruz Ron Johnson James Lankford Steve Daines John Kennedy Marsha Blackburn Mike Braun Cynthia Lummis Roger Marshall Bill Hagerty Tommy Tuberville

 Quick Overview is up  to date

Friday, January 01, 2021

 40 Years of the S&P

 Soybeans performing as advertised!

Notes Today:  

  • Just before New Year’s McConnell's managed to block the $2000 relieve bill. Kentucky, the state that elects this guy, is in the bottom 5 states in every economic quality-of-life measure. Yet he wins. It boggles the mind. 

  • Just before New Year’s Louie Gohmert sues Pence in (GOP clown show) bid to overturn election results on Jan. 6 
  • Just before Christmas, Johnson managed to bring about the only trade deal in history that puts up barriers to commerce rather than removing them, and in the process Britons lost the right to live and work in 27 countries.  

  • CNN: Stanley Johnson, the father of British Prime Minister Boris Johnson, has said that he intends to obtain French citizenship -- his comments coming just hours before the UK's final transition out of the European Union. 

  • The NYSE is starting the process of delisting securities of three Chinese telecom companies, after Trump last month barred U.S. investments in Chinese firms he says are owned or controlled by the military. They are  China Telecom Corporation Limited , China Mobile Limited  and China Unicom (Hong Kong) Limited  

  •  African countries began officially trading under a new continent-wide free trade area. 

  • Small drones will be allowed to fly over people and at night in the United States, the Federal Aviation Administration (FAA) said. A significant step toward their use for widespread commercial deliveries. Now that will make everyone feel very safe. Especially since none will be hacked – I’m sure.  

  • 12/23/2020 New home sales fell 11% in November to 841k, but still +21% y/y Decline in all regions: - Midwest -43% - West -17% - Northeast -2.5% - South -1.9%
  • Inventory: 4.1 months
  • Median home price: $335,300, +2.2% y/y
  • Some moderation in sales in 2021, but still strong activity expected