Sunday, January 31, 2021
Friday, January 29, 2021
USDA: Global orange production for 2020/21 is forecast to rise 3.6 million metric tons (tons) from the previous year to 49.4 million as favorable weather leads to larger crops in Brazil and Mexico, offsetting declines in Turkey and the United States. Consequently, consumption, fruit for processing, and fresh exports are also forecast higher.
The ICE and cotton:
Effective with the start of trading for Monday, February 1, 2021, the Daily Price Limit for all Cotton No. 2 futures contract delivery months per pound (400 points) above and below the prior day Settlement Price for the respective delivery month.
Thursday, January 28, 2021
Wednesday, January 27, 2021
- The Fed left interest rate unchanged and stuck with the current pace of bond-buying.
- Gold is having its worst January performance
- Fed's Powell: Don't blame us for GameStop frenzy.
- Bloomberg: WallStreetBets, fueling a frenzy of retail trading, briefly turned itself off to new users Wednesday after a deluge of new participants raised concerns about its ability to moderate content, a notice on the website said.
- Bloomberg: The world’s first exchange-traded fund solely for psychedelic-drug companies will debut this week in Toronto, a reflection of the investment industry’s desire to capitalize on rising interest in prospective mental health treatments using the drugs. The Horizons Psychedelic Stock Index ETF, listed as PSYK, is expected to start trading Wednesday on the NEO Exchange.
- Australia says “inevitable” that Google will have to pay for news.
- Oklahoma wants to return its $2 Million Stockpile of Hydroxychloroquine. The state bought over a million pills last year after Trump pushed, with 0 evidence, the use of the drug as a COVID-19 treatment.
- Remarkably busy with alternate history - Deborah Birx saw the president presenting graphs she never made.
- New Zealand said it would likely keep its borders closed to the world through most of 2021.
- Robert Reich: Spare me the Republican party’s fake outrage about the deficit. The GOP’s tax cut for the rich added $1,900,000,000,000 to the debt. When billionaires and corporations are getting a payout, the GOP couldn’t care less about the national debt.
- Unilever (UL):The uses of this unique technology are almost limitless,” says Unilever’s Vice President for Science & Technology, Unilever Homecare, Dr Jon Hague, including tackling some of the biggest societal and environmental challenges of the 21st century where microbial biofilms are commonplace.
Friday, January 22, 2021
- Market Watch: China overtook the U.S. as the world’s top destination for new foreign direct investment last year, as the COVID-19 pandemic amplifies an eastward shift in the center of gravity of the global economy.
- New investments by overseas businesses into the U.S., which for decades held the No. 1 spot, fell 49% in 2020, according to U.N. figures released Sunday, as the country struggled to curb the spread of the new coronavirus and economic output slumped.
- China, long ranked No. 2, saw direct investments by foreign companies climb 4%, the United Nations Conference on Trade and Development said. Beijing used strict lockdowns to largely contain COVID-19 after the disease first emerged in a central Chinese city, and China’s gross domestic product grew even as most other major economies contracted last year.
- 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
Saturday, January 16, 2021
- You can observe a lot by just watching. Yogi Berra
- Or: Wildebeest investors and the dangers of the herd (FT)
- Looks like another $1400 may be coming to some 150 million Americans - encouraging additional speculation - for some.
- Misinformation dropped dramatically the week after Twitter banned Trump. Surprise ,surprise.
- 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
Tuesday, January 12, 2021
- 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%).
Monday, January 11, 2021
Saturday, January 09, 2021
Friday, January 08, 2021
Wednesday, January 06, 2021
- 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
- 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.
- Eleon Musk reportedly says that “China is more responsible to its citizens" than the US.
Monday, January 04, 2021
- 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.
- (Reuters) - Chicago Federal Reserve President Charles Evans on Monday had a message for markets: vaccines may bring the coronavirus pandemic under control this year, but the U.S. central bank is nowhere close to ending its super-easy monetarypolicy.
Sunday, January 03, 2021
Saturday, January 02, 2021
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
Friday, January 01, 2021
- 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
- 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