Category: Finance

The Bank of Canada begins its tightening cycle by lifting interest rates by 25bps – as expected – and signaled more hikes to come in its attempts to tamp inflation down from a three-decade high. “The policy rate is the Bank’s primary monetary policy instrument. As the economy continues to expand and inflation pressures remain… Continue reading Bank Of Canada Hikes Rates As Expected, Says Ukraine “Major Source Of Uncertainty”

Update (0940ET): In a brief statement released this morning, Nord Stream 2 said that “We cannot confirm the media reports that Nord Stream 2 has filed for bankruptcy.” Switzerland-based Nord Stream 2 AG “only informed the local authorities that the company had to terminate contracts with employees following the recent geopolitical developments leading to the imposition of… Continue reading Operator Of Nord Stream 2 Fires All Employees After US Sanctions

Oil prices are significantly higher this morning from yesterday’s settlement, with WTI around $109 (having topped $112 earlier), as the market shrugs off Biden’s plans to release some of the SPR, focusing still on geopolitical risk premia (and the fact that Russia’s supply has been implicitly cut from the market as the tender for Urals… Continue reading WTI Extends Gains After Cushing Stocks Drop Near ‘Tank Bottoms’, Crude Draws

On Wednesday the European Union approved fresh sanctions on Belarus for its role in facilitating the Russian invasion of Ukraine, which started last Thursday. While from the start there have been conflicting reports over the extent to which Belarus actually has forces or military assets on the ground inside Ukraine, it’s clear that Minsk allowed… Continue reading EU Hits Belarus With New Sanctions As Pentagon Says “No Indication” Its Troops In Ukraine

After yesterday’s epic rollercoaster in rates, where we first a dual VaR shock, first in the front-end of the curve as eurodollar exploded higher sending rate hike expectations plunging, and then moved to the long end with coupon bond yields crashing, especially in Germany, where the 10Y bund saw the biggest one day drop in… Continue reading McElligott: “Equities Are Exhausting, I Hate To Even Write About Them Now”

Rest in Peace 50bps March rate hike. Moments ago, Fed Chair Powell said that he is “inclined to support a 25 basis point rate hike” in March, which immediately killed any market expectation of a 1+ rate hike in two weeks. However, in the very next sentence, Powell said that if inflation stays hot, he… Continue reading Powell Kills March 50bps Rate Hike, But Leaves Door Open For Later In 2022

Authored by Paul Joseph Watson via Summit News, Russians attempting to use Apple Pay and Google Pay found that their access had been blocked, causing chaos in the Moscow Metro system. Irish journalist Jason Corcoran tweeted the following image, which shows long queues at the Moscow metro station after both payment systems stopped working for… Continue reading Apple & Google Payment Systems Block Russians, Causing Chaos In Moscow Metro System

It looks like Elon Musk’s ongoing feud with President Biden is still…well, ongoing.  The Tesla CEO Tweeted at the President on Tuesday night, criticizing him for not mentioning Tesla during his State of the Union address.  During the address, President Biden made mention of a combined $18 billion in investments made into electric vehicles by Ford… Continue reading “Nobody Is Watching”: Musk Lampoons President Biden During SOTU For Failing To Mention Tesla

Update (1705ET): Things just got a little more problematic for anyone with Russian exposure. VanEck is halting the creation of shares for the VanEck Russia ETF (RSX), the world’s largest Russia-focused exchange-traded fund, due to “significant declines” in value and liquidity of Russian securities. “Although shares of the Fund are expected to continue trading on… Continue reading After “Significant Declines” In Price & Liquidity, VanEck Suspends Creations For Largest Russia ETF

By Greg Hunter’s USAWatchdog.com  Renowned geopolitical and financial cycle expert Charles Nenner says his analysis shows the world is entering into a huge war cycle that could last for many years. Nenner says, “The war cycle is such that there is great danger for a huge war…” “What I have been writing about is the big… Continue reading “15,000 On The Dow” – Charles Nenner Warns Of “Great Danger” From War-Cycle