Bonds, stocks, & bitcoin battered (42,000) as “rage-hike” fears grow. The Wall Street markets were smashed today in volatile trading that ended with the S&P 500 closing down 1.8%. Starting this holiday-shortened trading week saw rising bond yields, persisting rate pressures, and a big earnings miss by Goldman Sachs.
Today saw both bonds and stocks battered, creating the biggest daily aggregate loss (10Y TSY Px plus S&P 500) since March 2021. Oil prices are also trading at their highest level in seven years (86.19), but the move could be short-lived according to Exxon CEO Darren Woods is confident they will trend lower.
As usual, we have included below the headlines and news summaries moving the markets today.
The Market in Perspective
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Most U.S. States See Nuclear Power As Part Of Green TransitionThe majority of U.S. states and the District of Columbia see a future for nuclear power in their respective energy policies for a transition away from fossil fuels, a survey by the Associated Press showed. Two-thirds of all states and the District of Columbia say that in one form or another, nuclear power generation will be needed in the United States to meet the goals of a carbon-free grid by 2035 and net-zero emissions by 2050, the survey found. However, the other one-third of U.S. states say their green energy plans do not include relying on Read more at: https://oilprice.com/Latest-Energy-News/World-News/Most-US-States-See-Nuclear-Power-As-Part-Of-Green-Transition.html |
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Drone Attacks And Invasion Fears Send Oil Prices SoaringThe geopolitical risk premium is soaring as fears of Russia invading Ukraine combine with recent reports of a Houthi drone attack on the UAE.Chart of the Week- Colombias presidential front-runner Gustavo Petro is likely to nudge Colombia away from hydrocarbon production, currently accounting for half of the Latin American countrys export revenues.- Petro pledged to replace oil and gas output with a knowledge-based, tourism-driven economy, arguing that there would be roughly 12 years to finish production at currently producing Read more at: https://oilprice.com/Energy/Energy-General/Drone-Attacks-And-Invasion-Fears-Send-Oil-Prices-Soaring.html |
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U.S. Airline Lobbying Group Says 5G Could Cause Catastrophic DisruptionsThe Federal Aviation Administration (FAA) cleared a large portion of the U.S. commercial plane fleet for ultra-low visibility landing at half of the U.S. airports affected by the upcoming rollout of 5G. However, a top airline lobbying group warned the 5G rollout could unleash severe economic consequences for commercial and cargo airlines. An FAA statement, released Sunday, said Boeing 737, 747, 757, 767, MD-10/-11 and Airbus A310, A319, A320, A321, A330 and A350 models had been approved to perform low-visibility landings (this represents Read more at: https://oilprice.com/Energy/Energy-General/US-Airline-Lobbying-Group-Says-5G-Could-Cause-Catastrophic-Disruptions.html |
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Russia To Struggle With Oil Production Increase Under OPEC+ DealRussia, the leader of the non-OPEC producers in the OPEC+ pact, is unlikely to deliver all the 100,000 bpd monthly increases under the agreement this year, analysts tell Bloomberg, in another bullish factor for oil market tightness and prices in the first half of 2022. Under the OPEC+ agreement, Russia, like Saudi Arabia, is allowed to increase its oil production by around 100,000 bpd each month out of the total OPEC+ monthly production growth of 400,000 bpd. Russia, however, has seen setbacks recently in its attempt to pump to its quota, and will Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-To-Struggle-With-Oil-Production-Increase-Under-OPEC-Deal.html |
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Nickel Slides Into Deficit As Stockpiles TumbleInventory drawdown is the defining narrative at the moment, and nickel is part of the story. Economic recovery around the world is patchy. Some countries are recovering strongly, while some are still struggling. Inflation is surging and analysts are having trouble agreeing whether 2022 can see anything like 2021s rate of growth as a result. But one area of near-universal concern is dwindling exchange and trade inventory stock levels. Nickel stockpiles fall Take nickel, for example. Nickel stockpiles on the London Metal Exchange recently Read more at: https://oilprice.com/Energy/Energy-General/Nickel-Slides-Into-Deficit-As-Stockpiles-Tumble.html |
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OPEC Sees Robust Demand And Well-Supported Oil Market In 2022The effect of the Omicron variant on global oil demand has been weaker than expected a month ago, and the oil market is set to be well-supported throughout 2022 despite monetary tightening policies, OPEC said on Tuesday, leaving its demand growth estimates for this year unchanged. In its closely watched Monthly Oil Market Report (MOMR) today, OPEC kept its oil demand growth forecast for 2022 unchanged at 4.2 million barrels per day (bpd). Average global consumption is set to reach 100.8 million bpd, exceeding pre-COVID levels. The Omicron impact Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Sees-Robust-Demand-And-Well-Supported-Oil-Market-In-2022.html |
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Some Americans blocked from ordering Biden’s free Covid tests in early website launchEvery household is limited to four tests based on residential address. The White House said last week it capped the number of tests people can order to ensure broad access to the program. Read more at: https://www.cnbc.com/2022/01/18/some-americans-blocked-from-ordering-bidens-free-covid-tests-in-early-website-launch.html |
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WHO says omicron won’t be last Covid variant as global cases surge by 20% in a weekNew infections have increased by 20% globally over the past week with nearly 19 million total cases reported during that period, according to the WHO. Read more at: https://www.cnbc.com/2022/01/18/who-says-omicron-wont-be-last-covid-variant-as-global-cases-surge-by-20percent-in-a-week.html |
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WHO says there’s no evidence healthy children and adolescents need Covid boostersSwaminathan said the agency’s advisory group meet later this week to consider how countries should think about giving booster shots. Read more at: https://www.cnbc.com/2022/01/18/who-says-theres-no-evidence-healthy-children-adolescents-need-covid-boosters.html |
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AT&T, Verizon delay 5G rollout near some airports after airlines warned of flight cancellationsAirlines warned they would be forced to cancel flights if 5G was deployed as scheduled. Read more at: https://www.cnbc.com/2022/01/18/5g-deployment-delays-at-airports-on-cancellation-threats.html |
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The Biden administration says it’s in talks to prevent flight disruptions over 5G rolloutThe 5G rollout is scheduled to start on Wednesday after several delays. Read more at: https://www.cnbc.com/2022/01/18/airlines-white-house-5g-rollout-flight-disruptions.html |
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New York Mayor Adams says city is winning the war against omicron as cases declineNew York City’s seven-day average of daily new cases has dropped below 20,000. Read more at: https://www.cnbc.com/2022/01/18/nyc-mayor-says-city-is-winning-the-war-against-omicron-as-cases-dip.html |
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Investment in space companies hit record $14.5 billion in 2021, report saysPrivate investment in space companies last year set a record, according to a report Tuesday by New York-based firm Space Capital. Read more at: https://www.cnbc.com/2022/01/18/space-investing-q4-report-companies-hit-record-14point5-billion-in-2021.html |
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We have a chance to end Covid emergency in 2022, WHO official saysCovid-19 will never be eradicated, but society has a chance to end the public health emergency this year, a senior WHO official has said. Read more at: https://www.cnbc.com/2022/01/18/we-have-a-chance-to-end-covid-emergency-in-2022-who-official-says.html |
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Oil prices are at a 7-year high, but Exxon CEO Darren Woods is confident they will trend lower.Oil prices are trading at their highest level in years, but the move could be short-lived. Read more at: https://www.cnbc.com/2022/01/18/oil-prices-are-at-a-7-year-high-but-exxon-ceo-darren-woods-says-the-ultimate-trend-is-lower.html |
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Peloton hires McKinsey to review cost structure; cycle maker may cut jobs, close storesPeloton is working with management consulting group McKinsey & Co. to review its cost structure and potentially eliminate jobs, CNBC has learned. Read more at: https://www.cnbc.com/2022/01/18/peloton-hires-mckinsey-to-review-cost-structure-as-equipment-sales-slow-.html |
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Covid can turn kids into ‘fussy eaters’ if it changes their sense of smellParosmia — when people experience strange smell distortions — could be affecting some children, experts say. Read more at: https://www.cnbc.com/2022/01/18/covid-could-be-turning-kids-into-fussy-eaters-due-to-loss-of-smell.html |
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Bonds, Stocks, & Bitcoin Battered As “Rage-Hike” Fears GrowBonds, Stocks, & Bitcoin Battered As “Rage-Hike” Fears GrowToday saw both bonds and stocks battered, creating the biggest daily aggregate loss (10Y TSY Px plus S&P 500) since March 2021…
Source: Bloomberg In fact, a combined equity/bond portfolio has lost money on 13 of the last 15 days. 10Y Treasuries are having their worst start to a year in at least 30 years…
Source: Bloomberg And stoc … Read more at: https://www.zerohedge.com/markets/bonds-stocks-bitcoin-battered-rage-hike-fears-grow |
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President Rogan 2024?President Rogan 2024?Submitted by QTR’s Fringe Finance I am encouraged by the fact that the mainstream media and the elites who set the narrative for them have found it necessary to take on Joe Rogan head-on. For those of you that have been reading my blog for the last couple of weeks, this should come as no surprise. I recently predicted that the mainstream media was “losing the fight of its life” and would be forced into one of its largest pivots of all time on Covid, partially thanks to Joe Rogan, and I defended and argued those points in an hour-long follow up interview with former Fox newswoman Ivory Hecker about a week ago.
Read more at: https://www.zerohedge.com/markets/president-rogan-2024 |
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Russian ‘False Flag’ In Ukraine Story Emerged After CIA Director Secretly Visited KievRussian ‘False Flag’ In Ukraine Story Emerged After CIA Director Secretly Visited KievOn Monday it came to light that last week’s whole false flag story which involved the US alleging that Russia is planning some kind of deceptive attack on its own forces or proxies in order to justify an incursion into Ukraine was fed straight to the CIA from Kiev intelligence officials. CNN has now disclosed that the sensational charge against Moscow that it’s prepping “potential sabotage operations against their own forces” – as Bloomberg described it last Friday – was likely made known to CIA Director William Burns during a secretive January 12 visit to Kiev where he met with President Volodymyr Zelensky and top officials.
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AT&T, Verizon Push Back 5G Rollout Over Concerns About Airplane InterferenceAT&T, Verizon Push Back 5G Rollout Over Concerns About Airplane InterferenceUpdate (1450ET): Much to the relief of travelers everywhere, it appears AT&T and Verizon have decided to delay the rollout of parts of their 5G networks that have been deemed to be dangerously close to vulnerable airports. As we discussed below, the aviation industry (still reeling from the disastrous and deadly Boeing 737 Max 8 rollout) warned about potentially deadly accidents that could result from signals interference related to the 5G rollout. In a statement, an AT&T spokesman said the company wouldn’t roll out its 5G service in select areas near a “limited number of towers around certain airport runways as we continue to work with the aviation industry and the (FAA).” The wireless companies blamed the FAA and the industry for failing to solve this problem sooner.
President Biden greeted the news with a statement of his own, saying the carriers decision will “avoid potentially devastating disruptions” to travel.
The FAA has repeatedly warned about potential interference from the 5G rollou … Read more at: https://www.zerohedge.com/markets/faa-clears-45-us-commercial-plane-fleet-ahead-5g-rollout |
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Council-backed energy firm Together Energy latest to go bustTogether Energy, which was backed by Warrington Borough Council, ceases trading due to high gas prices. Read more at: https://www.bbc.co.uk/news/business-60038685?at_medium=RSS&at_campaign=KARANGA |
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Oil prices hit seven-year high after attackAn attack on fuel trucks in the Middle East and hopes for a global economic recovery have driven up prices. Read more at: https://www.bbc.co.uk/news/business-60044210?at_medium=RSS&at_campaign=KARANGA |
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Mobile firms agree another 5G delay at US airportsAirlines have pushed for postponement, saying risks from 5G will force them to cancel flights. Read more at: https://www.bbc.co.uk/news/business-60045077?at_medium=RSS&at_campaign=KARANGA |
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Bajaj Finance Q3 results: Net profit jumps 84% to Rs 1934 cr; asset quality improvesBajaj Finance said its interest income rose 27.38 per cent year-on-year (YoY) to Rs 6335 crore from Rs 4973 crore in the same quarter a year ago. Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/bajaj-finance-q3-results-net-profit-jumps-84-to-rs-1934-crore/articleshow/88976263.cms |
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Tightrope walk: Govt needs to balance growth support & fiscal prudence this BudgetMeasures for improving business climate, more medium term plan for manufacturing and infrastructure and a fiscal roadmap could be on the anvil, says Shiv Sehgal, President & Head Institutional Clients Group, Edelweiss Financial Services Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tightrope-walk-govt-needs-to-balance-growth-support-fiscal-prudence-in-this-budget/articleshow/88969699.cms |
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Market movers: Adani Green hits m-cap of Rs 3 lakh cr, now more valuable than ITC, TitanAdani Green Energy is now more valuable than the likes of Bajaj Finserv, Avenue Supermarts, Larsen & Toubro, ITC, Maruti Suzuki and Titan Company Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-adani-green-hits-m-cap-of-rs-3-lakh-cr-now-more-valuable-than-itc-titan/articleshow/88976107.cms |
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The Moneyist: I spent $20,000 on a house my brother promised, but failed, to sell me. I texted: ‘Congratulations on the sale. Now is your chance to do the right thing.’‘The repairs were much more than I anticipated and, in 2019, I told my brother I would need to file for bankruptcy.’ Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-787D-356858BB3C8E%7D&siteid=rss&rss=1 |
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Market Snapshot: Dow down more than 500 points as stocks sink amid rising Treasury yields and a Goldman earnings missAll three major U.S. stock benchmarks trade sharply down Tuesday, with losses led by the technology-laden Nasdaq Composite Index, as the high-growth tech sector fell under pressure from climbing Treasury yields. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-787D-9706331D068B%7D&siteid=rss&rss=1 |
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The Conversation: Inflation inequality: Poorest Americans are hit hardest by soaring prices on necessitiesHigher prices for groceries, gasoline and housing hurt low-income families because they spend a larger portion of their budget on these items. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7882-9BFE2F9F4538%7D&siteid=rss&rss=1 |
Photo: JoeRogan.comIn the hours after my original post was published, outlets like …