tyb and good morning
Morning Market report
Japan was fairly flat to up (see Cap#2)- futures and pre-market equity's are very thin and can be pushed in any direction very easily.China still has it's massive time bomb working on it and was lower.
Moar and moar will be needed and with increasing frequency. If they just did the deal the markets there would have it's adjustment to it and it would begin to clean out some of this crap.
I see why they are stalling as we (FRB) would not allow this in response to our markets coming apart in 2008 into early 2009-remember green shoots?
Some Headlines
100-Year Bond Yielding Just Over 1% Shows Investors' Desperation
Austria’s 2117 yield has dropped 100 basis points since launch. Bonds have rallied, with German yields hitting record lows.
German 10-year bonds now yield -0.32%, close to a record low, with the prospect of more easing coming from the European Central Bank adding support.
https://www.bloomberg.com//news/articles/2019-06-25/austria-weighs-another-century-bond-for-yield-starved-investors?
love the spin on this, this is two-fold but the emphasis is squarely on the ECB (nee B.I.S.) needing to push out moar paper to support it's crack habit.
for several years it was speculated that our treasury was going to issue 50 or 100 year bonds however I do no think the 100 year is going to habben, the 50 possibly.
Asset Managers Drubbed by Ever Rising Costs as Fees Drop
Expenses have outpaced or matched revenue growth, report shows. Performance alone isn’t going to win the day, consultant says
Overall, expenses have outpaced or matched revenue growth during the past four to five years, while aggregate fees declined almost 20%, the study found. Industry revenue expanded only 8% from 2015 to 2018, reaching $289 billion. By contrast, assets jumped 20% during that period to $71.8 trillion.
https://www.bloomberg.com//news/articles/2019-06-25/asset-managers-being-drubbed-by-ever-rising-costs-as-fees-drop?
this is due to a shrinking amount of turnover in the markets, less trading = less fee's collected, the big boys still earn what they need on consultations, and 2/20 fee's they extract doing turn and burn (constant shuffling for little or no reason) along with fee's for IPO's and like.
Global Stocks, S&P Futures Hit By Iran Tensions, G20 Fears
US equity futures dipped in the red, following European and Asian shares lower, amid renewed Iran tensions and trade jitters ahead of this week's G-20 meeting.
while the risk of more easing from the Federal Reserve and its central bank peers inflated gold to six-year highs, its price surging as high as $1,440 and stoked demand for safe-harbor currencies like the yen and Swiss franc and pushed bitcoin to new highs.
rush to "safety" in FIAT currency….good luck with that-you'll need it. They have to do something though.
Treasury futures rose and most global stock markets slipped as the increasing Gulf tensions rattled investors.
Oil steadied after rallying almost 8% in three days as investors weighed mixed signals from the White House on Iran and signs that an extension of the OPEC+ production cuts may not be assured.
Chinese banks led financials lower following a U.S. media report that some of them were involved in a probe on alleged violation of sanctions against North Korea. Most markets in the region fell, with China and Hong Kong driving losses. Japan's Topix closed 0.3% lower as the yen strengthened against the dollar. Looking at today's events, there are no fewer than five Fed policy makers speaking on Tuesday, including Chair Jerome Powell, and markets assume they will stick with the recent dovish message.
the owners of the FRB will make sure they do.
US Event Calendar-data
9am: FHFA House Price Index MoM, est. 0.2%, prior 0.1%
9am: S&P CoreLogic CS 20-City MoM SA, est. 0.1%, prior 0.09%; YoY NSA, est. 2.5%, prior 2.68%
10am: Richmond Fed Manufact. Index, est. 2, prior 5
10am: New Home Sales, est. 683,750, prior 673,000; New Home Sales MoM, est. 1.6%, prior -6.9%
10am: Conf. Board Consumer Confidence, est. 131, prior 134.1
Central Bank Speakers
12pm: Fed’s Bostic Speaks on Housing
1pm: Powell Discusses Economic Outlook and Monetary Policy
3:30pm: Fed’s Barkin Speaks in Ottawa
6:30pm: Fed’s Bullard Gives Welcoming Remarks at Lecture in St. Louis
https://www.dailyfx.com/crude-oil
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
https://www.bloomberg.com/markets/stocks/futures
https://www.marketwatch.com/investing/bond/tmubmusd10y?
https://www.zerohedge.com/news/2019-06-25/global-stocks-sp-futures-hit-iran-tensions-g20-fears?
Blueprint Medicines BOD member sold $1.12m in shares-June 20
Blueprint Medicines Corporation is a bio-pharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease. Its drug candidate, BLU-285, targets KIT, including Exon 17 mutations, and targets PDGFRa, including the D842V mutation. These mutations activate receptor tyrosine kinases that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors (GIST), and systemic mastocytosis (SM). Its drug candidate BLU-554 targets FGFR4, a kinase that is activated in a defined subset of patients with hepatocellular carcinoma (HCC), the common type of liver cancer. It is engaged in developing BLU-667, a drug candidate that targets RET, a receptor tyrosine kinase that is activated by mutations or translocations.
https://www.marketscreener.com/BLUEPRINT-MEDICINES-CORP-22033569/company/
https://www.secform4.com/insider-trading/1597264.htm
Raw Filing
https://www.streetinsider.com/SEC+Filings/Form+4+Blueprint+Medicines+Corp+For%3A+Jun+20+Filed+by%3A+Rowland+Charles+A+Jr/15641293.html
morning patriot
Porsche Recalling Over 100,000 Vehicles Due To Risk Of "Rolling Away" While In Park
Porsche recently announced that it would be recalling over 100,000 vehicles in the U.S. and Canada due to a risk of "fooling drivers into believing the transmission is in park", and rolling away, according to Car Complaints.
While a driver can move the gear shift to the "Park" position, and even remove the ignition key under the impression that the vehicle is in park, the transmission may not be moving along with it, according to the recall.
Without any warning messages or chimes, a driver could wind up exiting the vehicle and watch it roll down the street unattended. Porsche says the issue could be due to the plastic bushing that attaches the cable connection between the gear shifter and the gearbox detaching.
Porsche learned about the issue in December 2018 and promptly commenced an internal investigation that found "numerous incidents" of detached cable bushings. The company said it hasn't learned of any injuries or property damage reports as a result of the issue. The recall will begin August 11, 2019 and, as a result, Porsche dealers will replace the shifter cable bushings.
About 99,700 vehicles were recalled in the U.S. and 8,742 in Canada.
The full list of vehicles potentially affected is lengthy:
2003-2006 Porsche Cayenne S
2003-2006 Porsche Cayenne Turbo
2004-2010 Porsche Cayenne
2006 Porsche Cayenne Turbo S
2010-2016 Porsche Panamera S
2010-2016 Porsche Panamera 4 S
2010-2016 Porsche Panamera Turbo
2011-2016 Porsche Panamera
2011-2016 Porsche Panamera 4
2012-2013 Porsche Panamera Turbo S
2013-2016 Porsche Panamera 4 GTS
2014-2016 Porsche Panamera 4 S Executive
2014-2016 Porsche Panamera Turbo Executive
2014-2016 Porsche Panamera Turbo S G1 II
2014-2016 Porsche Panamera Turbo S Executive
2013 Porsche Panamera 4 Platinum Edition
2013 Porsche Panamera Platinum Edition
2016 Porsche Panamera 4 Edition
2016 Porsche Panamera Edition
2016 Porsche Panamera Turbo S Executive
Luxury Sport
https://www.zerohedge.com/news/2019-06-24/porsche-recalling-over-100000-vehicles-due-risk-rolling-away-while-park-0?
cut corners on design, production: should have never entered SUV market. Did fine with sports-cars but decided that was not enough. Offer a manual trans for sure, write the tech specs/operation manual in cursive though.
kek
kek
*moran
long lists that no one knows about unless they get the notifications on. Then good luck waiting for parts and the lines. none of these were supposed to last this long too. merc just got charged doing same thing vw did too. VW got too big too fast..they knew what was coming.
taht cayenne is nothing moar than a tarted up tourag with nice interior and decent motor
don't doubt it, no wonder GM carries all that crap off books
New Home Sales decreased to 626,000 Annual Rate in May
The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 626 thousand.
The previous three months were revised down slightly, combined.
"Sales of new single‐family houses in May 2019 were at a seasonally adjusted annual rate of 626,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.8 percent below the revised April rate of 679,000 and is 3.7 percent below the May 2018 estimate of 650,000."
The first data cap shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.
The inventory of completed homes for sale is still somewhat low, and the combined total of completed and under construction is close to normal.
Even with the increase in sales over the last several years, new home sales are still somewhat low historically.
The months of supply increased in May to 6.4 months from 5.9 months in April.
The all time record was 12.1 months of supply in January 2009.
This is at the top of the normal range (less than 6 months supply is normal).
"The seasonally‐adjusted estimate of new houses for sale at the end of May was 333,000. This represents a supply of 6.4 months at the current sales rate."
https://www.calculatedriskblog.com/2019/06/new-home-sales-decreased-to-626000.html?
>Q would have to be someone that has NO binding attachment to the campaign/administration.
god they are getting dumber by the day
don't give a fuck chuck, you can't read or discern that's your issue not mine
you don't understand what was said, agree with that.
try understanding yourself before responding.
the idiots who think he is are the dumb ones.