Category: News Wire

How Much Bad News Is Priced Into The Market? Tyler Durden Thu, 05/14/2020 – 10:45 Authored by Michael Msika, macro commentator at Bloomberg We’re starting to get a glimpse of the scale of the economic damage wrought by the pandemic. Data yesterday that showed the U.K. plunging into recession in March begged the question: how much worse was April, when the lockdown was in place throughout the month? GDP reports for the euro-area and Germany due tomorrow will offer more clues on the extent of the bleakness, and whether or not it’s priced in already by equities. European stocks have[…]

“No More Mr.Nice Guy” – Trump Urges Senate To Call Obama To Testify Tyler Durden Thu, 05/14/2020 – 10:32 After the unmasking of the unmaskers (including Biden), ObamaGate  is growing… And President Trump clearly won’t let it go (and why should he after three years of utter bullshit)… If I were a Senator or Congressman, the first person I would call to testify about the biggest political crime and scandal in the history of the USA, by FAR, is former President Obama. He knew EVERYTHING. Do it @LindseyGrahamSC, just do it. No more Mr. Nice Guy. No more talk! —[…]

No Slacking: As Employers Keep Watchful Eye On Remote Workers, Trump Admin Roots Out Unemployment Fraud Tyler Durden Thu, 05/14/2020 – 10:21 With record numbers of people working from home during the pandemic, employers are using sophisticated software to remotely monitor their employees‘ productivity. Companies such as ActivTrak, Teramind, Hubstaff and Time Doctor provide bosses with a “dashboard” which provides data on individual workers – including their screen time, mouse activity, desktop screenshots, and even their physical location via GPS, according to the CBC.  According to the report, Austin, TX-based ActivTrak has seen a spike in customer inquiries, while Miami-based[…]

“‘Bots Are Clearly In Control Of This Market…” Tyler Durden Thu, 05/14/2020 – 10:07 Via Global Macro Monitor, Traders and ‘bots are clearly in control of this market… We are fairly convicted the 50% Fibo won’t hold… Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. – Investopedia As Albert Edwards recently notes, many[…]

Watch Live: ‘Whistleblowing’ Vaccine Expert Rick Bright Testifies To House Tyler Durden Thu, 05/14/2020 – 09:55 Rick Bright, the top federal vaccine official who claims he was ousted from his position for speaking out, is expected to criticize the administration’s response to the COVID-19 pandemic and warn of dark days to come during a House hearing on Thursday. Bright will publicly advise the federal government to ramp up its response, a week after filing a whistleblower complaint alleging he was fired from his job leading the Biomedical Advanced Research and Development Authority (BARDA) for opposing the use of hydrochloroquine (which[…]

“We Could Cut Off The Whole Relationship” – War Of Words Between Trump And Beijing Is Heating Up Tyler Durden Thu, 05/14/2020 – 09:40 A solid chunk of President Trump’s latest sit-down interview with one of his favorite reporters – the OG “money honey” Maria Bartiromo – was devoted to the president’s latest belligerent musings about China, the latest in an escalating tit for tat as at least one hedge fund titan subtly warns that ‘World War III’ between the US and China might be a tail-risk worth hedging against. Asked about the US-China bilateral relationship, Trump replied “we could[…]

Rabobank: A Broad US Dollar Shortage Would Erupt If There Is A New Trade War With China Tyler Durden Thu, 05/14/2020 – 09:20 Submitted by Michael Every of Rabobank Hand A, Hand B, Handout Yesterday saw Fed Chair Powell in the spotlight, and he had a few key things to say. First, things are looking grim for the economy. Rather than merely cheer-leading that H2 and 2021 were going to see a V-shaped US recovery he stated “the path ahead is both highly uncertain and subject to significant downside risks.” The UN would agree, with what looks like a vast[…]

Tyson Foods Slashes Meat Prices To “Keep Beef On Family Tables” Tyler Durden Thu, 05/14/2020 – 09:05 Tyson Foods Inc. will be reducing prices on certain products for the remainder of the week, according to The Wall Street Journal. This comes after surging meat prices and shortages at some retail shops in the first half of May.  The Arkansas company, which processes about 25% of the nation’s beef, will discount prices of ground beef, roasts, and other beef products by as much as 30% through Saturday. Price reductions will be given to restaurants, grocery stores, and other customers for a limited time.  Noel White, Tyson’s chief executive, said[…]

Martin Armstrong: Are Democrats Trying To Eliminate Proof Of Who You Are To Vote? Tyler Durden Thu, 05/14/2020 – 08:45 Authored by Martin Armstrong via ArmstrongEconomics.com, Just when you thought it could not get any more corrupt, the Democrats have demonstrated to the world that they are beyond all morality, ethics, and are outright corrupt. Tucked inside House Democrats’ new coronavirus bill is language that would create a loophole in states’ voter ID requirements, allowing people to cast ballots without having to prove who they are. After accusing Russia of influencing the 2016 election, they are trying to sneak in[…]

COVID-America: 84,136 Dead, 36 Million Jobless, Nasdaq +30% Tyler Durden Thu, 05/14/2020 – 08:34 The string of unprecedentedly huge spikes in jobless claims continues. In the last week 2.98 million Americans filed for unemployment benefits for the first time (notably worse than the 2.50 million expected). Source: Bloomberg The small difference WoW suggests a second wave of unemployment is hitting… That brings the eight-week total to 36.47 million, which is massively worse than the prior worst eight-week period in the last 50-plus years. And of course, last week’s “initial” claims and this week’s “continuing” claims… the highest level of continuing[…]