Category: Finance

Another day, another collapse in the Turkish lira, only this time there was a twist: as the hyperinflating currency implodes, Erdogan has finally had enough of the relentless pummeling, and is starting to shut down Turkey’s markets. But first, let’s back up: heading into Friday, the lira accelerated its historic descent, weakening past the 16… Continue reading Turkey Halts All Stock Trading As Currency Disintegrates, Central Bank Powerless To Halt Collapse

A global program designed to offer vaccines to tens of millions of migrants has been holding back on jabs because major manufacturers and the NGOs fear lawsuits over harmful side effects, according to Reuters, citing internal documents from Gavi – the charity operating the program. The legal concerns are an additional hurdle for public health… Continue reading Millions Of Refugees Aren’t Getting Vaccines Because Drugmakers, NGOs Fear Lawsuits

Over the past 4 years, there hasn’t been a selloff JPMorgan’s head quant (and more recently, head of market strategy) Marko Kolanovic, hasn’t loved and the current one is no exception, and remarkably while even the otherwise uber-bullish Goldman Sachs (which has a 5,100 year end 2022 price target) recently pointed to the unprecedented collapse… Continue reading Marko Kolanovic Expects A Massive Short Squeeze Into Year End

Authored by Steve Watson via Summit News, After Florida governor Ron DeSantis introduced legislation Wednesday in an effort to crack down on the teaching of Critical Race Theory and other ‘woke’ ideology in schools and places of employment, MSNBC race baiters declared it to be a “new effort to codify white supremacy for political gain”.… Continue reading Watch: MSNBC Declares DeSantis’ Anti-CRT Legislation Is “New Effort To Codify White Supremacy”

By Greg Miller of FreightWaves Despite America’s epic consumer boom, containerized imports to the Port of Los Angeles dropped to 403,569 twenty-foot equivalent units in November, down 14% from October and down 13.2% year on year. For the second month in a row, Los Angeles’ containerized imports have fallen below levels in the same months… Continue reading Los Angeles Import Volume Sinks As Shipping Traffic Jam Worsens

Update (1530ET): The National Football League has released a press release explaining the game changes due to the COVID-19 threat.  The Las Vegas Raiders-Cleveland Browns game scheduled for Saturday, December 18 has been moved to Monday, December 20 at 5 p.m. ET on NFL Network. The Washington Football Team-Philadelphia Eagles game and Seattle Seahawks-Los Angeles… Continue reading NFL To Postpone Several Games Over COVID Spread  

Authored by Mark Tapscott via The Epoch Times, A serious challenge to the House Select Committee on the January 6 Attack on the United States Capitol is growing via former White House Chief of Staff Mark Meadows’ suit against subpoenas for information he claims the panel has no legal authority to seek. In his suit filed… Continue reading Hard Questions Raised On Jan 6 Panel’s Legality In Meadows Contempt Vote

Barlcay’s is joining the long list of investment banks ramping up pay for its employees. The bank is expected to boost its bonuses by more than 25% this year after record results and in a global competition to retain talent in the industry. The boosts in pay are a stark delta from 2020, when pay… Continue reading Barclays Among Investment Banks Set To Boost Bonuses Between 25% And 50%

Authored by Branko Milanovic via ConsortiumNews.com, More than 100 nations’ presidents, prime ministers, and kings met virtually at the Summit for Democracy on Dec. 9 and 10. It was the first meeting in history on this scale where the application — or ostensible application — of the democratic principle in the governance of national affairs was used as a criterion… Continue reading Why The First ‘Summit For Democracy’ Should Be The Last

The Fed’s hawkish statement and Powell’s modest ‘good cop’ effort left rate-hike odds all higher on the week with May 2022 now the most likely ‘liftoff’ for rates… Source: Bloomberg While stonks kneejerked higher on Wednesday, this hawkish shift ended up dragging markets lower on the week. Nasdaq was the week’s biggest loser; The Dow… Continue reading Turbo-Taper Sends Stocks & Bond Yields Lower On The Week