morning
I've picked up a little since dis (Q drops) started
Watching VP and the Public affairs woman-forget her name- Maria Z or something like dat and Lavrov..now the MOD briefings.
It's got translations but slowly am picking up werds.
Prolly not on a level to hold a conversation unless a full on attempt at mastery is done but helpful nontheless.
Yandex used as translator
Learned what Japanese I know this way was helpful-kanji A tough one d'oh.
ok-having troubs sleeping-at least getting to sleep-and impossibruh w/o meds.
So up again last night but did not come on here.
Don't wanna start making that a habit.
Blackrock $17B the distinguishing part of that is the articles clearly say "of clients assets"
No mention of prop book I've seen.
"larry" wants peeps to believe that his book doesn't have a hedge to the client position ?
GTFO
and Jamie over at the Morgue is got a bigger problem
VP punked them good on that one
They don't want roubles and this is the reason for the CDS "issues"
"larry" woulda been the treasury sec. had hillbags won in 2016
Not AF2-Kneepads SAM526 USAF C-32A on ground at Bucharest from Warsaw depart-landed 'bout 4 hours ago
Before Susnet look at Yerp-and looks relatively the same it has for the last two weeks so just noting the ISR ACs and tankers
*of note-Polish AF went to Tel Aviv for an hour
REDEYE6 USAF E-8C Join STARS over eastern Poland with NATO01 E-3TF Sentry AWACS just to the se
Dutch AF MMF20 MRTT trackin to the west of both of 'doze
LAGR230 USAF KC135 tanker tracking north of Bucharest with LAGR241 comning in to replace
*Polish AF PLF106 G5 nw from Tel Aviv and on ground for about an hour........
I do not habs the origonals of doze (that was 3 'puters ago) but they are in the dedicated Banking threads (that off active catalog long ago) on 103118 as well as an explanation of what they were doing with that.
Those threads were good until about the 2nd or 3rd one-then they became muh crypto tards on the defense
Question: How can those be accessed since they not active and off any real visibilty?
Mkt Fag: Morning Market report-March 11th, 2022
"Strong" open-easily accomplished with thinly traded Futs markets however that is fading fast and Janey gonna need to "arrive" at the hot-air machine knows as the NAS cause the 10 year note is over 2% nao-cap #3-dis is the bond market screaming again. Any knowledagable market person should habs realized by now that the 10 year note has lost or gained (on certain days) moar than it does for an entire year-historically speaking.
SP500 and DOW green but that bounce on all indicies has failed to ignite the NAS-which is why Janet gonna need to PPT it-she been doing it just before or right after the European Close-why? cause our markets are standing naked with no support from others after Yerp closes. Oil spiked on open-to just under $110, dropped to about $115.6x and currently heading back to that opening high. Metals: Gold retracing an earlier hit job while Silver has regained that earlier paper dump-the divergence here is pretty obvious nao-the COMEX #'s namely thecash for trash plus wut it "cost" the systems activity will be updated later-as mentioned they are publishing those #'s much later than they normally do-someone on to you with your cash settlements?....kek
See the activity on the lower part of cap #4 where it has basically said "piss off" to the dump earlier-provided by the London market
DIS (financially speaking) is YUGE
Russia's Surgut works with China to allow oil sales to go on
Russian producer Surgutneftegaz (SNGS.MM) has allowed Chinese buyers to receive oil without providing guarantees known as letters of credit (LC) in order to bypass Western sanctions, three people with knowledge of the matter said. The change in terms is allowing Surgutneftegaz to continue to sell ESPO Blend crude from the port of Kozmino in Russia's Far East to China, the world's top oil importer. Russian ESPO crude exports, at 754,000 barrels per day in April, provide China's biggest source of spot crude. Following Russia's invasion of Ukraine that began on Feb. 24, oil prices have risen to 14-year highs on global markets . Russia is the world's top exporter of crude and oil products combined. Western sanctions in response to the invasion, which Russia describes as a "special military operation", have led banks to halt the issuance of LCs for all oil that originates from Russia. China has repeatedly voiced opposition to the sanctions, calling them ineffective and insisting it will maintain normal economic and trade exchanges with Russia. To get round the restrictions, Chinese companies are using open accounts that allow the customer to buy goods on a deferred payment basis, with a requirement to pay in full up to three days after the cargo is loaded, the sources said
https://www.reuters.com/business/energy/exclusive-russias-surgut-allows-oil-sales-china-without-credit-guarantees-2022-03-11/
In thank you captain obvious news (it's not so "obvious" when peeps have known nuffin but 'up' in the markets) and when the large % of our economy is based solely on consumption......bit I digress.
U.S. Consumer Sentiment Sinks as Inflation Expectations Soar
U.S. consumer sentiment tumbled in early March to the lowest since 2011 and year-ahead inflation expectations rose to a four-decade high in the aftermath of Russia’s invasion of Ukraine. The University of Michigan’s sentiment index dropped to 59.7, from 62.8 in February, data released Friday showed.
https://www.bnnbloomberg.ca/u-s-consumer-sentiment-sinks-as-inflation-expectations-soar-1.1736272
dhey really gettin mad nao'
US moves to ban Russian diamonds and vodka
https://www.bbc.com/news/business-60712902
https://finance.yahoo.com/quote/%5EIXIC?
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://www.marketwatch.com/investing/bond/tmubmusd10y
RIGHT ON CUE
6 minutes before Yerp closed
1.80B share transaction
https://finance.yahoo.com/quote/%5EIXIC
>Janey gonna need to "arrive" at the hot-air machine knows as the NAS cause the 10 year note is over 2%
>Janet gonna need to PPT it-she been doing it just before or right after the European Close-why? cause our markets are standing naked with no support from others after Yerp closes.
dhey not gonna like dhat next door
kek
eberbody acting surprsied by the UIN stuff
not eben wasting time on it
seen dis movie for years
Chinese Stocks Plunge After SEC Stokes Delisting Concerns
The Nasdaq Golden Dragon China Index of China-focused US-listed companies closed 10% lower Thursday. That took the index, which includes many American depositary receipts, to its lowest since 2016, and marked its biggest one-day percentage decline since October 2008, Refinitiv data showed. Many stocks registered double-digit drops, with the e-commerce groups JD.com Inc. and Pinduoduo Inc. falling 16% and 17%, respectively. In Hong Kong trading Friday, shares fell steeply before recouping some of their losses. By midafternoon, the city’s Hang Seng Index stood 0.9% lower, while the Hang Seng Tech Index had fallen 3.2%.
On Thursday, the SEC provisionally named five companies, including the biotechnology group BeiGene Ltd. and Yum China Holdings Inc., the operator of KFC in China, as firms whose audit working papers couldn’t be inspected by US regulators. A 2020 law, the Holding Foreign Companies Accountable Act, would ban trading in securities of companies whose audit papers can’t be checked for three years in a row. Strategists at Morgan Stanley said they expected the SEC to add more names to the provisional list in the coming weeks, as those companies released their annual reports. “We’re definitely in some complete dislocation when it comes to sentiment and China,” said Andy Maynard, head of equities at China Renaissance. “This is just another nail in the coffin for investors when it comes to China and especially ADRs.”
The market value of the MSCI China Index has fallen by some $1.45 trillion from a peak in February of last year, when it was worth some $3.6 trillion, Refinitiv data shows. JD.com on Thursday had reported a better-than-expected quarterly adjusted profit and solid guidance for this year, Sanford C. Bernstein analysts said in a note to clients. “None of that mattered,” given the SEC news, they wrote. China’s securities regulator said it continued to engage with the US Public Company Accounting Oversight Board, the federal audit watchdog overseen by the SEC. In a statement Friday, it said it respected foreign regulators overseeing accounting firms, but opposed the politicization of securities regulation. Yum China said as things stood, it would be delisted from the New York Stock Exchange in early 2024, unless it was excluded from the law or its auditor could be fully inspected. “The company will continue to monitor market developments and evaluate all strategic options,” it said.
Yum China and many other companies have already secured second listings in Hong Kong, meaning their shares could continue to trade if they were ejected from US markets. Some of the steepest drops Thursday were among companies that haven’t obtained such a listing, including Pinduoduo and the property-portal operator KE Holdings Inc., which fell 24%. Bankers and lawyers say Chinese companies are now looking more actively at listing by introduction in Hong Kong—a way of going public that doesn’t require a company to raise capital or sell new shares. Onshore Chinese shares have been comparatively shielded from the regulatory pressure that has pummeled their offshore equivalents. The CSI 300 index rose 0.3%, rebounding from some losses from earlier in the day.
https://businesshala.com/chinese-stocks-plunge-after-sec-stokes-delisting-concerns/
he mad nao
kek
JPMorgan Emerges As Largest Counterparty To Chinese Tycoon's Massive Nickel Short Squeeze
Until yesterday, it appeared that a bailout plan for Chinese stainless steel titan Tsingshan Holding Group owned by “Big Shot" Xiang Guangda (and which was facing an $8 billion nickel margin call following the explosive surge in Nickel prices which briefly soared above $100,000/ton up 4x in just a few days, or would be if the Hong Kong-owned LME ever reopened Nickel trading) was coming along with the support of the largest US commercial bank, JPMorgan, and one of China's largest banks, China Construction Bank, both of which would provide credit guarantees to the distressed producer (as we reported in "JPMorgan Bails Out Chinese Nickel Giant Facing Billions In Losses From Record Margin Call"). However, that rapidly cobbled-together rescue plan (which saw meetings running into the pre-dawn hours of Wednesday morning) took a major detour yesterday when Xiang announced that he intends to keep shorting nickel, as he thinks the price will drop eventually but raising the risk that the margin call will only get worse as buyers of nickel swarm the offer and inflict even more pain on the Chinese tycoon.
By way of quick background for those who have missed one of the most dramatic moments in metals market history, Tsingshan - which under the leadership of Xiang has emerged from obscurity to become the world’s biggest producer of nickel and also stainless steel - has struggled to meet margin calls as the price of nickel on the LME exploded higher as a result of an avalanche of short squeezes by producers (who traditionally hedge their physical exposure by shorting futures). As the WSJ reported previously, the total size of the margin call is roughly $8 billion, resulting from a short of some 150,000 tonnes of nickel; the company had started to amass its short position at the back end of last year when prices started to pick up because of demand from carmakers.
So as banks in the "rescue syndicate" perhaps got cold feet about their continued involvement in what may ultimately end up being an even bigger bail out, this morning the FT reported that none other than China itself was exploring a plan to rescue the billionaire owner of Tsingshan - which is China's largest stainless steel producer and is thus systematically important for Beijing.
According to the FT, one option being considered is for Tsingshan to swap some of the lower grade nickel it produces - which does not meet the LME’s quality standards - for refined metal held in China’s State Reserves Bureau. Tsingshan could then deliver the high-grade metal against its contract on the LME, pay off its brokers and close its lossmaking position.
But a wrinkle has emerged: as the FT reports, Chinese officials and the LME both want Tsingshan to pay its brokers, who are also facing large trading losses, and then exit its position. That will allow the market to reopen in a more orderly fashion. Another potential pathway is for Tsingshan to sell some of its low-grade metal and use the proceeds to settle with its brokers.
But all that was thrown in disarray yesterday when, as Bloomberg first reported, Xiang refuses to unwind his position and wants to keep his short positions in place, meaning that he would be at risk of an even bigger margin call should the price of nickel rise further.
Meanwhile, the LME which initially had said it would reopen nickel trading today, kept the market halted out of fears of displeasing Beijing and defaulting the country's largest stainless steel producer. The LME has not said when nickel trading will resume. It said on Thursday that a plan to match long and short positions before the market reopens had received a mixed response.
moar
https://www.zerohedge.com/markets/jpmorgan-emerges-largest-counterparty-chinese-tycoons-massive-nickel-short-squeeze
Not AF1 Joe in 09-0017 USAF C-32A on ground at Philadelphia Int'l from JBA
Thought dis was a cert flight earlier
See attached schedule
He "bailing" to Camp David later and will take the helo from Philly and 09-0017 will return to JBA
https://factba.se/biden/calendar
Biden in Philadelphia to address Democratic caucus, visit school
https://6abc.com/president-biden-philadelphia-penns-landing-democratic-caucus-in-philly-war-ukraine/11642933/
This...."tours an elementary school"
Where he gonna rub one out before going in dhere?
little surprise for ya comiong
"Credit Is Cracking"
Credit is “cracking" are the ominous words that BofA strategist Michael Hartnett chose to describe the bond markets currently, and it is a very ugly picture indeed - for both price... and flows.
As HY bond prices lead equities lower... (HY=High Yield)
And HY spreads are following suit (so its not just rates driving weakness). .the flows out of corporate debt are accelerating
But it's not just the junk that's "cracking"...it's everything
*IG bond outflows past 9 weeks ($12.8bn)
*EM debt outflows past 9 weeks ($3.5bn)
*Munis outflows past 4 weeks ($0.5bn)
*MBS outflows past 16 weeks($1.5bn)
*Govt/Tsy inflows past 9 weeks ($5.4bn)
*Largest TIPS inflow since Nov'21 ($2.1 bn)
*1st Bank loan outflow since Dec'21 ($38mn)
In the U.S., investors pulled $5.4 billion from corporate high-grade funds in the biggest weekly exodus since April 2020, according to data from Refinitiv Lipper for the period ended March 9. Even those safest dollar corporate bonds losing more than 8%, while equivalent euro-denominated debt has lost more than 4.7%, according to Bloomberg index data, but European corporate credit is facing further blows as the ECB - the biggest buyer - prepares for a faster-than-expected exit from the market.
And the pain is in investment-grade spreads (credit risk) just as much as high-yield; both just showing VIX (equity risk) the way forward (and higher)...And that means only one thing, equities face a vacuum of no support down from here with record outflows in European stocks last week-why Janet is pushing the PPT button just before Europe closes...And the last time we saw equity (higher) and credit (lower in price) did not end at all well (with Powell having to about-face and save the world again, but only after significant pain)...When the credit 'floor' starts cracking, brace.
And the new safe-haven is the same as the oldest safe-haven. And with Goldman’s economists warning the probability of a U.S. recession in the next year may be as much as 35% -as they cut their forecasts for growth due to the hit from soaring oil prices and other fallout from the war in Ukraine - who can blame investors for abandoning the most recession-sensitive part of the balance sheet in favor of a barbarous relic.
https://www.zerohedge.com/markets/credit-cracking
German FM Annalena Baerbock to Moldova from Serbia
German AF GAF850 A319 on descent for Chisinau
Baerbock: Germany wants Serbia to become fully fledged EU member
German Foreign Minister Annalena Baerbock expressed Germany's desire for Serbia to become a fully fledged member of the European Union during a visit to Belgrade on Friday.
"We want Serbia to become a full, equal and free member of the European Union in the future," Baerbock told a joint news conference with Serbian President Aleksandar Vucic.
https://www.reuters.com/world/europe/baerbock-germany-wants-serbia-become-fully-fledged-eu-member-2022-03-11/
Catherine Herridge@CBS_Herridge
#Durham Thursday hearing for Sussmann that addressed the disclosure of allegations made against him by Durham’s team in court filings. Judge Cooper would not strike from the record. Via @RobLegare
https://twitter.com/CBS_Herridge/status/1502346108533673999
Deutsche Bank vows no new business in Russia
Equity slide continues
Deutsche Bank AG DB, -3.40% said Friday it will not take on any new business in Russia. "Like some international peers and in line with our legal and regulatory obligations, we are in the process of winding down our remaining business in Russia while we help our non-Russian multinational clients in reducing their operations," the bank said in a prepared statement. The bank also said it has already "substantially reduced" its Russian exposure since 2014. "As we have repeatedly said, we condemn the Russian invasion of Ukraine in the strongest possible terms and support the German government and its allies in defending our democracy and freedom." Deutsche Bank's action comes a day after similar announcements from Goldman Sachs Group Inc. GS, -0.10% and JPMorgan Chase & Co. JPM, -2.06%. The statement by Deutsche Bank comes a day after the bank's CFO James von Moltke told CNBC it did not plan to close its Russian business. Shares of Deutsche Bank fell 3.1% on Friday, compared to a loss of 0.6% by the S&P 500.
https://www.marketwatch.com/story/deutsche-bank-vows-no-new-business-in-russia-2022-03-11
>>129909 lb Deutsche Bank Has Lost 38 Percent of Its Market Value in a Month
Mkt Fag: Market Report March 11th -after the bell
J-J-Janet showed up twice today and had little to no impact on the NAS-The one done later was bigger (second lime green circle) and it did NUFFIN.The third block trade was a big boi getting out before the weekend casue it then proceeded to drop to the LOD. . Classic "oh shit" behavior but smart cause holding on to ANYTHING equity-wise is suicide over the weekend-in muh trading days I stopped holding ANYTHING over weekends after 2008 because I had a huge short position in the big banks that I watched vanish on the monday morning that Bear Stearns was "saved"-April 2008 . This was broken only in March of 2009 while I was on vacation-but had I been home on both occasions I would have never been in those. Those 2 experiences were a combined 6 figure "lesson". -see below for the 13th "anniversary" of another DS numbers game and this is when I was also caught.
If interested you can read moar on that here: The 2007–2008 Financial Crisis in Review https://www.investopedia.com/articles/economics/09/financial-crisis-review.asp
Be careful though...it doesn't tell ya the whole truth but can be used as a guide for what they did (in public and on what dates).
Of Note it was exactly 13 years ago on Weds that the SP500 "bottomed" at 666.xx on an intraday print-not a coincidence that day saw the markets all end substantially higher-they sky'd it knowing that the CPI #'s were going to be horribruh-they LOVE da numbers games-13 years ago
The volume on all three indicies were below the daily averages so with all the "propping" by the Plunge Protection Team they are finding it very hard to exit anything in size-they are bagholders in an illiquid market. Janet propping allows the big bois to exit because they absolutely KNOW that is going to happen-let's face it....pepe does and I said I was waiting for Janet in cap#5 here >>130121 and she did not disappoint because it had already habbened by the time I had finished putting that post together when this showed up >>130124.
So if an inactive (retired) trader knows it's coming it' a guarantee they know the exact time it will arrive. On the inactive part: this pepe has ZERO skin in this game so I remain impartial and give you the truth of what I see-not the musings of some financial "journalist" who has an agenda or is being paid to tell you to "Buy the dip" or " Don't sell because it always comes back" bullshit that scares people into inaction.
By the close of Monday the SP500 will be exactly on the Death Cross-cap #3 so you will have all three indicies in it-not going to go unnoticed by anyone with a brian-have seen jack shit about it in the Fin. MSM-but you always hear about the reverse of the Death Cross which is the 50DMA moving up through the 200DMA-the Golden Cross-they can't tell you enough about that when it habbens. Mr Death has occupied two floors (DOW, NAS) of a 3 story bldg and is about to buy the entire bldg (SP500) and will finish those "negotiations on Monday afternoon.
Oil ended the week at $109.14-cap #4 and the metals ended this way: Last trades in Au @ $1991.10/oz and Ag @ $25.95/oz
10 year note ended up at just below 2%-cap#5-as a reminder the FOMC meets next week and will announce that it will raise by 50 basis points (based on the 10 year note) or do nuffin-doesn't really matter what they do or say as that only impacts what banks are charged amongst themselves-If I had to bet they will do nothing because the effects of an interest rate raise have already habbened based on where mortgage rates and the 10 year note-they are simply delivery bois.
The COMEX bullshit will be updated tomorrow as yesterdays activity was minimal @ only 220 contracts in the cash for trash and todays #'s have not been updated.
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://finance.yahoo.com/quote/%5EIXIC
SAM548 USAF C-40B (dis State Dept AC) east from Peterson AFB ground stop of a little over 6 hours
I'll take never for $1000
do you habs a bun going at all?
SAM522 USAF KAF AC of interdast departed Los Angeles INt'l after arriving yesterday as ANON-cap #2 from Beale AFB ground stop and Peterson AFB depart earlier in the day.
As far as high level AC's go this is about the top 'o the heap for the G5s of the 99th Airlift Squad-never seen one as ANON before
Berry high level-cap #3
Sorry I din't see you yesterday pilot
o7