tyb
Jamie has other problems to attend to like illegally using house accounts on the COMEX-the DoJ settelement/agreement in 2020 for $920m expressly forbids this and they just have others do it for them but they have used own accounts as recently as Feb.
>deposition
That sometime this month and basically a show "seven hours over two days"
Will probably get 'lost'
they were saving that (UBL) for this
Bonds get hit in corporate rush to mull debt sales
A renewed bout of selling hit the entire Treasury curve, with a slew of companies considering selling bonds before Wednesday’s Federal Reserve rate decision. As Wall Street gears up for the Fed’s 10th consecutive hike since March of last year, around 10 issuers are considering moving forward with debt sales in the U.S. investment-grade primary market Monday. Borrowers are anticipated to pile in during the coming weeks as more companies exit earnings blackouts, with Meta Platforms Inc. said to kick off proceedings with a five-part deal.
Meta plans $7 billion bond issue
https://www.reuters.com/technology/meta-plans-7-billion-bond-issue-bloomberg-news-2023-05-01/
These offerings tend to represent a double-whammy for Treasuries, which tend to cheapen amid competition from new debt and as underwriters sell government bonds to rate-lock the issue for corporate buyers. As a result, the two-year yield climbed as much as 10 basis points to around 4.1 per cent Monday. The rate on the 10-year note rose at a slower pace, approaching 3.5 per cent.
Equities posted small moves after notching two straight months of gains, with traders continuing to sift through a batch of corporate results and taking comfort in the fact that JPMorgan Chase & Co. decided to acquire First Republic Bank in a government-led deal for the failed lender. “The second-largest ever U.S. bank failure is a stark reminder that, although some of the most visible banking sector stress points came in March, the full impacts remain to be seen,” said Will Compernolle, macro strategist at FHN Financial. “Markets are showing a 92 per cent expectation for a 25bp hike on Wednesday, but the bank failure will certainly enter into the meeting’s discussions as the Fed continues balancing the risks between potentially exacerbating banking sector weaknesses through higher interest rates and letting inflation rise higher through a premature rate pause.”
Compernolle expects Fed Chair Jerome Powell’s press conference to stress the Fed’s “meeting-by-meeting” approach to monetary policy even more than usual this week as March bank tension impacts on credit tightening slowly emerge. Stock market investors holding on to hopes that the Fed will cut rates in the second half could be disappointed later this week, according to Morgan Stanley’s Michael Wilson.
“If the message delivered at this meeting is more hawkish, it could provide a near-term negative surprise for equities,” Wilson wrote in a note
Key events this week:
*U.S. factory orders, revised durable goods, light vehicle sales, Tuesday
*U.S. ADP payroll data, Wednesday
*Federal Reserve Chair Jerome Powell holds news conference following the central bank’s interest-rate decision, Wednesday
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html Cap#3
*U.S. initial jobless claims, international trade in goods and services, Thursday
*European Central Bank rate decision, followed by ECB President Christine Lagarde’s news conference, Thursday
*U.S. unemployment, non-farm payrolls, Friday
(Which should keep dropping so the FOMC is done with rate hikes after Weds)
*St. Louis Fed President James Bullard at Economic Club of Minneapolis, Friday
Some of the main moves in markets:
Stocks
*The S&P 500 was little changed as of 9:31 a.m. New York time
*The Nasdaq 100 fell 0.2 per cent
*The Dow Jones Industrial Average rose 0.2 per cent
*The Stoxx Europe 600 was little changed
*The MSCI World index was little changed
Currencies
*The Bloomberg Dollar Spot Index was little changed
*The euro was little changed at US$1.1025
*The British pound fell 0.1 per cent to US$1.2550
*The Japanese yen fell 0.4 per cent to 136.81 per dollar
Bonds
*The yield on 10-year Treasuries advanced five basis points to 3.48 per cent
*Germany’s 10-year yield declined 15 basis points to 2.31 per cent
*Britain’s 10-year yield declined eight basis points to 3.72 per cent
Commodities
*West Texas Intermediate crude fell 1.9 per cent to US$75.33 a barrel
*Gold futures rose 0.6 per cent to US$2,011.60 an ounce
https://www.bnnbloomberg.ca/u-s-futures-dip-jpmorgan-wins-first-republic-bid-1.1914275
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
Economic Schedule for week of April 30th, 2023
https://www.calculatedriskblog.com/p/weekly-schedule.html
Apple (who is the biggest sandbagger on the earnings front) announces on Thursday after the close however they just stopped giving forward guidance
>Apple hasn't offered formal revenue guidance for follow-up quarters in previous releases. Given the continuation with the Q1 results it seems unlikely that much guidance will be provided this time around
N757AF 757 on ground at Aberdeen Int'l from Palm Beach Int'l-landed about 5.5h ago
they "say" a lot of things it's what they do is most important-they'll probably keep that language in it too.
They were never serious about it when they actually started raising
Look how long they ignored it itfp and played ketchup trotting out the folly and foil FED heads "no moar raises".."keep raising" "stand pat"
They could do one moar after that but the shit pile of interest rate and FOREX sensitive derivatives suggests otherwise
they put (along with a few others) $30B as a rescue so they were never gonna let it fail properly as it should have
The FDIC gets a $10B+ 'payment" and then the morgue gets a backstop against future losses while not taking on the downgraded preferred shares or it's Corp Debt >>18780237 lb
>via the Reverse Repo
Aye after that passed $1T nightly (for good in Aug) pretty obvious what was going on there.
Muck lower rate at that point it's 4.8% now
They still 'lend' between $40-$50B every day in securities for said PD's
https://www.newyorkfed.org/markets/desk-operations/securities-lending
>List for those that don't know what a primary dealer is
https://www.newyorkfed.org/markets/primarydealers
That muh fen is called Moral Hazard-knowing yer gonna get bailed out and then you can claim ignorance or smh in public
TheY took it over in 2008 and started in 2001 (with 911 really just din't say it) been effectively nationalized since then
correct just broken down by type and offered vs accepted always large on 10y, 5, 2 and sprinkle in some 30s and they haven't done any (at least reported) MBS since Sept of last year
you really can't fight the FED and most people think they can (it sucks but this is reality) just along for the ride
Take your $ out of the system (as much as you can) and watch the show..gonna get ugly soon
wouldn't argue against that makes the most sense plus Larry probably in there (via proxy) as well with hide muh T's
Blythe still has a 'consulting' gig there too (Apollo)
offloaded a bunch of shit to them in late Jan early Feb.
Oh wut a tangled web we weave….