Written by Gary
China dramatically increases ethanol purchases from the US (SPY +0.6%). BTFD buyers were out in full force DOW ends at record above 32,000 as bond yields fall.
The Market in Perspective
Here are the headlines moving the markets. | |
China Dramatically Increases Ethanol Purchases From The U.S.ThreeReuterssources said Monday that Beijing made massive purchases of US energy products. The sources said, “three ships carrying ethanol were heading to China from the US Gulf Coast.” They said it’s a “sign that ethanol exports from the United States to the country are increasing drastically.” The purchases are so big that they’re expected to “surpass the total amount of US ethanol that China imported last year,” said Reuters. Each vessel is carrying 30,000 tons or about 240,000 barrels of ethanol, the sources said. It | |
Why Biden Needs To Change His Tune On VenezuelaSince the U.S. presidential election started in earnest toward the end of 2020 there has been considerable speculation regarding President Bidens plans for crisis-torn Venezuela. President Biden has flagged that he intends to take a more diplomatic and humanitarian policy approach to the worlds hotspots and crises. Already, Biden has done this with respect to the lengthy war in Yemen, which the United Nations calls the worlds worst humanitarian crisis, by withdrawing U.S. support for the Saudi military offensive in the | |
Libyas Oil Production Could Stabilize Under New Unity GovernmentLibyas Parliament approved on Wednesday the first unity government of the war-torn country since 2014, potentially paving the way to more stability in oil production in the African OPEC member, which is exempted from the OPEC+ cuts. At a parliament session today, lawmakers approved an interim unity government led by Prime Minister Abdulhamid Dbeibeh that could put an end to the rivalry between institutions in the east and west of Libya and bring about more security and stability to oil production and oil infrastructure. The interim | |
Nigerias Lawsuits Against Shell Could Cause Oil Major ExodusJudging from recent headlines, Nigeria has unleashed one of the most spectacular legal attacks on one of its key oil and gas investors, to an extent previously unseen in the countrys more than 60 years of hydrocarbon production. Shell has been active in Nigeria ever since the African country opened up to international investment in the early 1960s, maintaining its position as one of the leading actors in its upstream segment, accounting for roughly 10% of Nigerias crude production. Seemingly, the timing is quite inopportune for a | |
Biden Shocks Environmentalists, Supports Gas Pipeline In Supreme Court CaseThe Biden Administration is backing a natural gas pipeline project in a legal fight about eminent domain that ended up in the Supreme Court, a move that shocked environmentalists who had hoped the Administration would not support any oil and gas pipeline projects.The Department of Justice, however, backed the PennEast natural gas pipeline project in a lawsuit the Supreme Court agreed last week to hear. PennEast is a pipeline project of 120 miles to carry natural gas from Pennsylvania to New Jersey and will meet growing energy demand in New Jersey | |
Analysts Extremely Bullish On China’s Electric Vehicle BoomAnalysts are growing increasingly bullish on the electric vehicle (EV) market globally and in the worlds largest automotive market, China, amid an increased push from governments to cut emissions and promote green recovery from the pandemic. Global EV sales jumped last year while the overall passenger car market crashed during the pandemic. Over the coming decades, electric car sales will only rise, driven by government incentives and falling battery costs, analysts say. And China, the biggest auto market, is set to lead the EV sales, | |
Free samples with your curbside groceries: How brands are wooing Walmart’s online shoppersThe pandemic has inspired retailers and consumer packaged goods brands to experiment with new ways to introduce products to customers. | |
Rise in anti-Asian violence puts added strain on struggling NYC restaurantsCovid-19 has taken a terrible toll on the restaurant industry, but Asian restaurants are facing an additional obstacle: racism. | |
Covid changed how we think of offices. Now companies want their spaces to work as hard as they doOne year after companies sent workers home, they are grappling with questions about how much office space they really need. | |
GE sheds finance assets as it focuses on industrial business and seeks to strengthen balance sheet“This really marks the transformation into a more focused, simpler and stronger GE,” CEO Larry Culp said in an interview with CNBC’s David Faber. | |
Nissan’s COO says its post-Ghosn turnaround plan is on track to hit targets a year ahead of scheduleNissan is making significant progress on a global restructuring plan as it unwinds initiatives of its former leader-turned-international fugitive Carlos Ghosn. | |
Watch live: President Biden meets with CEOs from J&J and MerckPresident Joe Biden is holding a meeting with Kenneth Frazier, chairman and CEO of Merck, and Alex Gorsky, chairman and CEO of Johnson & Johnson. | |
Rolls-Royce tech to power all-electric aircraft designed to hit speeds of more than 200 miles per hourAmong other things, Rolls-Royce says it will design the system architecture of the VA-X4’s electrical propulsion system. | |
J&J Covid vaccine distribution in poor, Black communities raises race questionsThe allocation of J&J’s shot to inner cities and rural areas, as some officials suggest, could bring allegations of discrimination based on race and class. | |
San Francisco Giants add sports agency Pivot to save on travel costs as league seeks to stem Covid lossesThe Bay Area company is also looking to raise $25 million to expand operations, including a mobile app for clients. | |
India is turning to ‘green hydrogen’ in a bid to decarbonize its economyHydrogen has a range of applications and can be deployed in sectors such as industry and transport. | |
GE to merge aircraft leasing unit with rival AerCap in a $30 billion deal as industry faces more pandemic turmoilGE’s aircraft leasing unit is combining with rival AerCap as the industrial conglomerate further slims down and faces impacts from Covid-19. | |
Tesla’s lead in batteries will last through decade while GM closes inTesla is expected to continue having the lowest costs in the EV industry through the end of this decade, with General Motors closing the gap, Cairn ERA said. | |
Biden administration plans to buy 100 million extra doses of J&J’s Covid vaccineBiden is expected to make the announcement during a meeting at the White House with executives from J&J and Merck. | |
Stimmy Vote Sinks Dollar, Bids Bitcoin & Big-Caps To Record HighsStimmy Vote Sinks Dollar, Bids Bitcoin & Big-Caps To Record Highs “The Great Experiment begins” as the $1.9 trillion bucket of lard was passed entirely along partisan lines… Today’s gains were also based on the ‘calm’ CPI print (which we noted here was – as BLS admitted – fabricated). The dollar dumped… Source: Bloomberg And alternative currencies rallied with Bitcoin back at record highs… | |
Peter Schiff: You Can’t Consume What You Don’t ProducePeter Schiff: You Can’t Consume What You Don’t Produce Via SchiffGold.com, There’s an economic myth out there. As the story goes, governments can print their way to prosperity. Just run the money printing press, hand out cash for consumers to spend and the economy will hum. In this clip from a podcast episode, Peter Schiff calls it œThe Kelton Myth named for economist Stephanie Kelton. At the root of this tale is the notion that people can consume what they don’t produce. As Peter explains, this simply isn’t possible. Kelton was Bernie Sanders’ economic advisor and is a big proponent of Modern Monetary theory. Of course, she’s not a bit concerned about all of the Federal Reserve money printing. In fact, she says it’s necessary. According to Kelton, without all of this … | |
China Slams US “Hyping Up” Threat To Taiwan After Admiral Predicts Takeover “Within 6 Years”China Slams US “Hyping Up” Threat To Taiwan After Admiral Predicts Takeover “Within 6 Years” A top Chinese foreign ministry official has accused the Pentagon of seeking to “hype up” China’s threat to Taiwan in order to further bloat military budgets and expand the US presence off China’s coast. On Tuesday Admiral Phil Davidson, the top US commander over the Indo-Pacific region of operation, gave testimony on the growing China threat before a Congressional panel. He highlighted growing PLA military capabilities to “jeopardize freedoms of navigation, overflight and other lawful uses of the sea, and compromise regional peace and stability” ” particularly in terms of Beijing inserting its influence and sovereignty claims over Taiwan. In response on Wednesday foreign ministry spokesman Zhao Lijian dubbed the US naval commander’s testimony as in reality an unnecessary attempt to raise fears and artificially stoke tensions over Taiwan. | |
It’s Time To Do The Twist AgainIt’s Time To Do The Twist Again Authored by Michael Lebowitz via RealInvestmentAdvice.com,
During the last half of 2020, bond yields were flat-lining at historically record low yields. The message was clear: bond investors did not fear inflation. The tone changed abruptly in early January when the ten-year U.S Treasury yield rose above 1.00% in yield. In February, five-year Treasury yields crossed 0.50%, which raised alarms for global investors. Despite stock market trepidation over rising yields, the Fed remains calm. It appears some Fed members are applauding higher yields. The following four comments came from three Fed members on February 25, 2021, the day in which the five-year Treasury notes gapped higher by 25 bps. Jim Bullard: œThe rise in bond yields is a good sign so far. Esther George: œLong tern yield rise doesn’t warrant monetary response. Raphael Bostic: œI am not worried about move in yields. Raphael Bostic: œ(The Fed) doesn’t need to respond to yields at this point. Quite often, Fed members make statements that turn out to be not so true. We believe the comments above fit this bill. The Fed is keenly aware rising interest rates will choke off the fledgling economic recovery. The possible solution to halting rate increases and keepi … | |
Heathrow says airport border queues at ‘unacceptable level’The airport regularly sees queuing times of three hours and on occasion six hours, an executive says. | |
Lego ‘to hire hundreds’ more in UK in digital driveThe toy giant sees best sales in five years as lockdown spurs growth in Lego sets for families. | |
Tesco to start recycling bread bags and crisp packetsThe supermarket is rolling out new recycling points for soft plastics that often end up in landfill. | |
Why analysts are bullish on this midcap realty stockAnalysts expect the company’s net sales to more than double in FY22 to Rs 2,100 crore over FY21 and net profit to increase to Rs 385 crore from Rs 20 crore. | |
Anupam Rasayan IPO looks fully priced: Should you subscribe?After annualising the earnings for the nine-months of FY21, Anupam Rasayan IPO demands a price-earnings (P/E) multiple of 86. | |
GameStop, other meme stocks soar as markets eye stimulus boostGameStop retains a legion of devout followers after a social media frenzy in January triggered a massive rally in which its shares surged more than 1,600%. | |
‘Mask up, America!’ Texas abandons COVID-19 mask mandate ” health experts say that’s a really, really bad idea‘Only around 10% of Americans nationwide have been vaccinated, and many of the people at greatest risk have yet to receive a vaccine,’ says Barbara Alexander, president of the Infectious Diseases Society of America. | |
The Moneyist: My father’s divorce decree said he’d leave us his house, but he put it in an irrevocable trust. Is there anything we can do?‘My father says he feels very guilty about the entire situation.’ | |
: Volkswagen and Goldman Sachs-backed Northvolt snaps up Silicon Valley’s Cuberg in EV battery raceSwedish battery maker Northvolt has snapped up Cuberg to gain access to the Silicon Valley startup’s technology, which will boost the energy density and range of electric-vehicle batteries. |
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