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Saturday, May 01, 2021
Couple of interesting P&F charts today:
- Soybeans P&F
- Canadian $ P&F
- Coffee P&F
- ED P&F ( above 100 Eurodollar rates would be negative)
Friday, April 30, 2021
Thursday, April 29, 2021
Notes today:
At the same time, it’s prohibiting cruise lines from asking passengers for proof of vaccination.(Florida / DeSantis)
- Amazon which benefited from a surge in online shopping during the pandemic, expects the trend to continue..
- The US level of personal savings leaped to a 21% annual rate in the first quarter and hit the second highest level on record.
- A court has vacated a Trump administration policy allowing the extremely dangerous pesticide, chlorpyrifos, to contaminate food.
- President Joe Biden told voters in an Atlanta suburb that his proposed tax increases on the wealthy would finance tax cuts for many more Americans.
Tuesday, April 27, 2021
Tristan Harris from the Center for Humane Technology testified at a Senate hearing on algorithms in
social media, saying that the business model of major platforms is designed specifically to keep Americans ‘addicted, outraged, polarized, narcissistic and disinformed’
Sunday, April 25, 2021
Notes today:
- Turkey’s Central Bank Head Says Crypto Regs Coming
- Residents of Baar, Switzerland pay about 7.5% in personal taxes per 100,000 Swiss francs ($109,450) of income.(Bloomberg)
Saturday, April 24, 2021
This week, the Bloomberg Agriculture Spot Index — which tracks key farm products — surged the most in almost nine years, driven by a rally in crop futures.
Tuesday, April 13, 2021
Notes today:
- China's exports climbing more than 30% YoY adding to signs that the global economic recovery is progressing well.
- In March, the CPI for All Urban Consumers rose 0.6 % on a
seasonally adjusted basis, rising 2.6 % over the last 12 months, not seasonally
adjusted. The index for all items less food and energy increased 0.3 % in March
(SA); up 1.6 % over the year (NSA).
- Real average hourly earnings for all employees decreased 0.8 % over the month in March
- Amazon supports a hike in the U.S. corporate tax rate as part of an infrastructure overhaul, CEO Jeff Bezos said, after facing withering criticism from the White House, Congress and on social media.
- 6.8m+ doses of the J&J vaccine have been administered in the U.S. CDC & FDA are reviewing data involving 6 reported U.S. blood clot cases. So the risk from the J&J vaccine is 1 in 1,000,000.
- “If you're wondering why people are still receiving Christmas cards in April, the answer is Louis DeJoy.”
Sunday, April 11, 2021
Looking at the parabolic rise of lumber I suppose the market thinks that there are not enough houses for sale.
Btw, Invitation Homes (INVH a Blackstone offshoot REIT) owns a little over 80,000 single-family rentals. (weekly chart below)
Saturday, April 10, 2021
The CME plans to launch a futures contract for lithium, seeking to capitalize on growing demand for a metal that helps to power electric vehicles.
The contract will be for lithium hydroxide delivered to China, South Korea and Japan, where most batteries globally are produced, CME said Thursday. If the futures contract is approved by regulators, it will begin trading on May 3.
Thursday, April 08, 2021
Wednesday, April 07, 2021
While 10 Year Notes have gone up the Dow Jones is still undervalued by some $21,000. Explanation here.
Notes today:
- World finance chiefs agree on Wednesday to boost reserves at the International Monetary Fund by $650 billion and extend a freeze on developing countries’ debt servicing to help them deal with the coronavirus.
- Germany and France welcomed a promise by U.S. Treasury Secretary Janet Yellen to work on a global corporate minimum tax rate as a step towards making a landmark deal achievable, but low-tax Ireland voiced reservations.
- Bloomberg: Expanding on the tax proposals released last week in President Joe Biden’s $2.25 trillion economic package, the Treasury said the changes, over a decade, would bring back about $2trillion in corporate profits into the U.S. tax net, with about $700 billion in federal revenue streaming in from ending incentives to shift profits overseas.
Tuesday, April 06, 2021
The electricity usage of bitcoin is now above that of Sweden.
China is pinned to generate 130.5 million metric tons of carbon emissions by 2024 from mining bitcoin
(One more Tulip that's not sustainable!)
Notes today:
- The people of Greenland have voted to oust a government that was planning to welcome foreign companies eager to tap the island’s rare-earth metals.
- New York approves online sports betting.
- McConnell warns corporate America to stay out of politics but adds that he is not talking about political contributions.
- Coronavirus latest: California targets full reopening of economy by mid-June.
- The International Monetary Fund raised its 2021 growth forecast from 5.5% to 6%, a rate unseen since the 1970s.
- German Finance Minister Olaf Scholz welcomed a pledge by U.S. Treasury Secretary Janet Yellen to work on a global corporate minimum tax rate, adding that a deal among more than 140 countries could be possible by summer.
- Alexei Navalny jokes TB would be a relief as he is moved to sick ward.
Meanwhile, Ruble not doing so hot. Moving trains with 240 mm mortars and tanks etc. to either Crimea or Donbass may not help much either.