Written by Gary
Oil ends higher as traders expect shipping delays to persist, even as the Suez Canal is cleared (SPY -0.1%). Cryptos jump, small caps dump as ‘archegeddon’ hits banks, bonds, & bullion.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Colombia Is Preparing For A Fracking BoomIt was roughly a decade ago when hydraulic fracturing, known as fracking, was identified as a crucial means for boosting Colombias meager hydrocarbon reserves and production. A shortage of proved crude oil and natural gas reserves along with declining production is threatening Colombias economy. Despite only possessing two billion barrels of proved oil reserves with a short six-year production life, Colombia is highly reliant upon petroleum production to drive the economy. During 2020, at the height of the pandemic and oil price crash, |
| Irans Only Operational Nuclear Power Plant Risks ShutdownIrans only operational nuclear power plant risks shutdown as the U.S. sanctions prevent the Islamic Republic from transferring money internationally to buy equipment, an executive of the Atomic Energy Organization of Iran was quoted as saying on Monday. Mahmoud Jafari, a deputy at the Atomic Energy Organization of Iran, said that the Bushehr nuclear power plant was facing the risk of shutdown, because of the inability to buy the necessary equipment from outside Iran, Bloomberg reports, citing the semi-official Iranian Students |
| Robots Could Replace Hundreds Of Thousands Of Oil And Gas Jobs By 2030Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition. One of the segments with much to gain from the adoption |
| Why The U.S. Senate Is Looking To Support Carbon Capture And StorageTwo bipartisan bills introduced in the U.S. Senate aim to support carbon capture and storage technologies as part of a drive to reduce emissions. A bipartisan group of U.S. Senators and Representatives introduced the Storing CO2 And Lowering Emissions (SCALE) Act, aimed at helping U.S. firms to develop carbon capture and storage (CCS) infrastructure as a way to cut carbon dioxide emissions and create jobs and regional economic opportunities. Carbon capture will play a critical role in reaching net-zero emissions by 2050, |
| Canada Could Become A Superpower In The Global Battery MarketCanada has great potential to become a leader in the global Li-ion battery market, a newanalysisby Roskill states. The research firm published the insight following theannouncementby Lion Electric, a manufacturer of all-electric trucks and buses, of the construction of a C$185-million battery manufacturing plant and innovation center in Quebec. The project is expected to receive a joint C$100-million investment from the federal and provincial governments and it is planned to begin operations in early |
| Oil Markets Already Priced In An OPEC+ Output Cut ExtensionThe closure of the Suez Canal led to a moderate price rally last week, which came after a significant decline in oil prices triggered by new and stringent lockdowns in Europe. The impact of the Suez Canal crisis on oil markets has been marginal due to a number of factors including (1) slowing demand especially in the EU, (2) relatively high inventory figures, and (3) the low volumes of crude oil passing through the canal (less than 5% of global supply). Now the shipping channel has been unblocked again, the markets have priced in a short delay |
| Biden says 90% of U.S. adults will be eligible for Covid shots by April 19 with sites within five miles of homeSome 90% of adults in the U.S. will be eligible for Covid-19 shots by April 19 and they will be able to get them within five miles of their home. |
| Watch live: Biden speaks on U.S. vaccination plan after CDC chief issues dire warningPresident Joe Biden is delivering remarks Monday on the government’s Covid-19 response and the state of vaccination efforts around the country. |
| VW accidentally leaks new name for its U.S. operations: VoltswagenA now unpublished press release called the change a “public declaration of the company’s future-forward investment in e-mobility.” |
| New York expands Covid vaccine eligibility to all adults starting April 6, Cuomo saysThe move by New York comes nearly a month before President Joe Biden’s May 1 deadline for states to vastly open up their supplies to all residents. |
| CDC chief warns U.S. headed for ‘impending doom’ as Covid cases rise again: ‘Right now I’m scared’CDC chief Dr. Rochelle Walensky on Monday urged Americans to “just hold on a little longer” as Covid-19 cases rebound amid an accelerating vaccine rollout. |
| ‘I just can’t take it’ ” Covid piles more stress and financial strain on already-burdened family caregiversMore than 50% of caregivers have increased their hours spent on caring for family during Covid, and 30% are experiencing more stress, a survey found. |
| Old golf courses and office buildings are turning into retail warehouses as demand for industrial space keeps climbingTransactions for industrial, big-box facilities hit a record in North America last year, according to commercial real estate services firm CBRE. |
| One dose of Pfizer or Moderna vaccines was 80% effective in preventing Covid in CDC study of health workersA single dose of Pfizer or Moderna’s Covid-19 vaccines was 80% effective in preventing infections, according to a new CDC study. |
| Supreme Court to decide whether Kentucky’s GOP attorney general can defend restrictive abortion lawThe Supreme Court will hear a plea from the Republican attorney general of Kentucky to allow him to defend a state abortion law, HB 454. |
| This biotech start-up is working overtime to develop a second-wave, mutation-resistant Covid-19 vaccineHannu Rajaniemi, the co-founder and CEO of Helix Nanotechnologies, has spent the last year racing to come up with a mutation-resistant Covid-19 vaccine. |
| Dr. Scott Gottlieb: U.S. Covid vaccinations at ‘tipping point’ of helping turn the tide in pandemicDr. Scott Gottlieb believes the U.S. can avoid “a fourth wave” of coronavirus cases, but told CNBC it’s a “little touch and go over the next two weeks.” |
| Cathie Wood’s Ark Invest launches a space exploration ETF, to begin trading TuesdayArk Invest, Cathie Wood’s firm with multiple actively managed exchanged-traded funds, will debut its latest offering on Tuesday. |
| Cryptos Jump, Small Caps Dump As ‘Archegeddon’ Hits Banks, Bonds, & BullionCryptos Jump, Small Caps Dump As ‘Archegeddon’ Hits Banks, Bonds, & Bullion It’s Margin Madness… Ever Given was freed, but Archegos anxiety provided just enough uncertainty to spook investors about where the next hit is coming from…”… be first, be smartest, or cheat… sell it all…”
Futures opened weak and stayed so throughout the Asia session as investors sold first and thought later amid Bill Hwang’s bloodbath (and contagion chatter). Europe brought some buying as the machines managed to get futures back to unch just in time for the US cash open which sparked a big puke (led by Small Caps). Stocks then bounced at the EU close, faded, and then ramped again as Morgan Stanley said it had no more blocks to sell. That bounce did not last as headlines hit into the last hour of Wells Fargo selling blocks. But … |
| “Labor Code Violations” – Amazon Sued Over Mistreatment Of Warehouse Workers “Labor Code Violations” – Amazon Sued Over Mistreatment Of Warehouse Workers  Amazon has long promoted its warehouses as “progressive” work environments. But as we read in a new lawsuit, there’s a dark side to working at the company’s warehouses, or at least one of them, that is intense labor, underpaid, and limited breaks. A former Amazon fulfillment worker in California filed a lawsuit claiming the company failed to provide adequate work breaks. In February, the lawsuit, filed in San Francisco County Superior Court, was shifted to the US District Court California, Northern District last Friday, according to court documents seen by The Verge. Lovenia Scott, a former employee of the Vacaville, California warehouse, also the plaintiff in the lawsuit, said the e-commerce giant failed to provide warehouse workers with rest periods, premium wages, adequate lunch breaks, among other things. |
| Ponzis Go Boom!!!!Ponzis Go Boom!!!! Via AdventuresInCapitalism.com, For the past few years, I have been critical of the Ponzi Sector. To me, these are businesses that sell a dollar for 80 cents and hope to make it up in volume. Just because Amazon (AMZN ” USA) ran at a loss early on, doesn’t mean that all businesses will inflect at scale. In fact, many of the Ponzi Sector companies seem to have declining economics at scale “largely the result of intense competition with other Ponzi companies who also have negligible costs of capital. I recently wrote about how interest rates are on the rise. If capital will have a cost to it, I suspect that the funding shuts off to the Ponzi Sector “buying unprofitable revenue growth becomes less attractive if you have other options. Besides, when you can no longer use presumed negative interest rates in your DCF, these businesses have no value. I believe the top is now finally in for the Ponzi Sector and a multi-year sector rotation is starting. However, interest rates are only a small piece of the puzzle. |
| Biden To Float $3 Trillion Plan Wednesday As Moderate Dems Push Back On Tax Hikes To Pay For ItBiden To Float $3 Trillion Plan Wednesday As Moderate Dems Push Back On Tax Hikes To Pay For It President Biden is about to introduce two separate components of what is expected to be a $3 trillion infrastructure plan, White House Press Secretary Jen Psaki told Fox News on Sunday. The first part of the “Build Back Better” plan – which Biden will float on Wednesday – is expected to focus on rebuilding ‘roads and railways,’ while the second part which will be released “in just a couple of weeks” will focus on “social infrastructure” funding, including childcare and healthcare.
On Monday, the New York Times reported that Biden advisers recommended splitting the $3 trillion plan into two components, which may make it easier to gain much-needed GOP support given Democrats’ narrow majorities in both chambers of Congress. The Times also reports that $1 trillion may be devoted largely to ‘building and repairing physical infrastructure’ with an emphasis on climate change. The second c … |
| Biden administration threatens tariffs on UK goods in ‘tech tax’ rowCeramics, make-up and furniture could be hit amid a row over a new UK tax on tech firms. |
| Historic Amazon union drive set to concludeWorkers at an Amazon warehouse in Alabama are voting on whether to join a trade union. |
| The cost of the Suez Canal blockageThe blocking of the canal by the Ever Given led to major disruption for the global shipping industry. |
| Will the latest fundraising help this midcap microfinance lender find its mojo back?The return of its loan disbursement growth to pre-COVID levels and last week’s fund-raising are likely to improve the company’s performance in the coming quarters. |
| Bond investors already betting on return to normal life amid vaccine optimism‹Bonds of EasyJet Plc and U.K. property manager Hammerson Plc are among the best performers in Europe this year. |
| Your coffee could get dearer due to Suez Canal blockageReports said ships of Robusta coffee — used by Nescafe — have got caught up in the blockage. |
| : Victoria’s Secret parent raises guidance again, and analysts think the stock could go even higherL Brands is guiding for first-quarter EPS in the range of 85 cents to $1, ahead of the FactSet consensus for 84 cents |
| Bond Report: U.S. Treasury yields climb as vaccine rollout, jobs report come into focusU.S. Treasury yields rose Monday as investors eyed the all-important employment report at the end of the week, which could underline the economy’s strength as vaccination rates accelerate. |
| Encore: Critics leap on aid to multiemployer pension plansCOVID did not cause multiemployer woes, but the help is long overdue |
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