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  • China Quietly Drops Vow “Not To Flood Economy With Liquidity” As It Injects An April Record ¥3.1 Trillion In Credit

    ZeroHedge - May 11th 2020 3:20pm EDT

    China Quietly Drops Vow “Not To Flood Economy With Liquidity” As It Injects An April Record ¥3.1 Trillion In Credit In response to a world that has unleashed a record liquidity flood in the past two months, over the weekend China’s PBoC said in its quarterly monetary policy report that it will resort to “more […]

  • “We’re All Government-Sponsored Enterprises Now…”

    ZeroHedge - May 11th 2020 3:05pm EDT

    “We’re All Government-Sponsored Enterprises Now…” Authored by Scott Minerd, Global CIO, Guggenheim Investments, Eight weeks have passed since the Federal Open Market Committee held an extraordinary Sunday meeting and cut the fed funds rate to zero. Since then the Federal Reserve (Fed) and Congress have unleashed vast fiscal and monetary resources to support the economy […]

  • Meat Exports To China Soar As US Supplies Dwindle & Workers Risk COVID-19 Infection

    ZeroHedge - May 11th 2020 2:50pm EDT

    Meat Exports To China Soar As US Supplies Dwindle & Workers Risk COVID-19 Infection As wholesale beef prices exploded to record highs and President Trump ordered workers at meatpacking plants around the US to get back to work after COVID-19 outbreaks prompted ~1/3rd of them to close (as we explained at the time, meatpacking plants […]

  • iPhone Sales Crash 77% In April, Hammered By COVID-19 Lockdowns

    ZeroHedge - May 11th 2020 2:35pm EDT

    iPhone Sales Crash 77% In April, Hammered By COVID-19 Lockdowns KeyBanc Capital Markets outlines in a new report, using internal credit card data, that Apple’s iPhone sales recorded a “sharp decline” in April as coronavirus-related shutdowns crimped consumer spending and kept many of the company’s brick and mortar stores closed. The report says iPhone sales plunged 77% on a year-over-year […]

  • A New Reality: Pandemic-Induced Layoffs May Be Permanent  

    ZeroHedge - May 11th 2020 2:23pm EDT

    A New Reality: Pandemic-Induced Layoffs May Be Permanent   A new report from the University of Chicago found that pandemic-induced layoffs will result in permanent job loss, which shreds the Wall Street narrative of how many of these lost jobs will return once lockdowns are lifted. As if the Wall Street consensus has a damn clue about the […]

  • Another COVID Unthinkable: Americans Being Turned Away Trying To Buy Life Insurance

    ZeroHedge - May 11th 2020 1:20pm EDT

    Another COVID Unthinkable: Americans Being Turned Away Trying To Buy Life Insurance In yet another unprecedented COVID historic first, insurance companies are actually turning away Americans who want to purchase a life insurance policy. Who would have ever thought insurers would turn you away flat out? But the unthinkable is happening, details The Wall Street Journal: The driving force […]

  • Supsersized 3Y Treasury Auction Prices At Lowest Yield On Record

    ZeroHedge - May 11th 2020 1:16pm EDT

    Supsersized 3Y Treasury Auction Prices At Lowest Yield On Record In the first of the week’s refunding auctions, which as we discussed last week were not only supersized to pay for the government’s helicopter money, but also now include a 20Y auction on May 20 – the first such tenor since the 1980s – moments […]

  • “A Tsunami Of Anger”: Chinese Officials Call For Renegotiation Of “Phase One” Trade Deal

    ZeroHedge - May 11th 2020 1:05pm EDT

    “A Tsunami Of Anger”: Chinese Officials Call For Renegotiation Of “Phase One” Trade Deal Amid the ongoing diplomatic spat between Washington DC and Beijing, which now also includes the deployment of B-1B bombers and warships in the South China Sea, late on Monday (local time) China’s Global Times reported, citing sources close to the Chinese […]

  • As U.S. Slides Into Depression, Consumers Have Never Been More Bullish On Stocks

    ZeroHedge - May 11th 2020 12:50pm EDT

    As U.S. Slides Into Depression, Consumers Have Never Been More Bullish On Stocks Not even in Khruschev’s wildest dreams did central planners ever conceive of anything so absolutely batshit insane as what is taking place in the centrally-planned US economy and “markets” right now. With the US economy sliding into a depression with the BLS […]

  • COVID-19 Magical Thinking, US Style: Contact-Tracing Versus Masks

    ZeroHedge - May 11th 2020 12:35pm EDT

    COVID-19 Magical Thinking, US Style: Contact-Tracing Versus Masks Authored by Yves Smith via NakedCapitalism.com, Since the US is a federal system with an Administration that refused to take coronavirus seriously early enough, and now seems determined to validate its original decision by doubling down on it, it is a bit simplistic to speak of a […]

  • ‘Seeking Immediate Liquidity’ – Overleveraged Airbnb Hosts Rush To Dump Homes, Warns Redfin CEO

    ZeroHedge - May 11th 2020 12:20pm EDT

    ‘Seeking Immediate Liquidity’ – Overleveraged Airbnb Hosts Rush To Dump Homes, Warns Redfin CEO Our suspicions were correct in late March when we identified Airbnb overleveraged Superhosts as the next possible forced seller to hit real estate markets as their rental income collapsed due to coronavirus lockdowns.  The slide in rental income is shown below as […]

  • Buy The Retail Trading Frenzy, Sell The Reality

    ZeroHedge - May 11th 2020 11:25am EDT

    Buy The Retail Trading Frenzy, Sell The Reality Submitted by Eleanor Creagh, Australian Market Strategist at Saxo Bank, Summary: Investors continue to buy the reopening story, with markets remaining completely detached from fundamentals and the real economy. Asian stocks are pushing higher to start the week. This as technicals remain on side with higher equities, […]

  • How Do You Say “Demand Hell” In Mandarin: Tesla’s China Model 3 Sales Collapse 64%

    ZeroHedge - May 11th 2020 11:05am EDT

    How Do You Say “Demand Hell” In Mandarin: Tesla’s China Model 3 Sales Collapse 64% If you spent the weekend trying to figure out why Elon Musk is in the midst of a nervous breakdown that has him doing battle with the entire state of California and many Democrats, we might have an answer. In […]

  • “A Legal Nightmare”: In Latest European “Freakshow”, EU Threatens To Sue Germany Over QE Ruling

    ZeroHedge - May 11th 2020 10:50am EDT

    “A Legal Nightmare”: In Latest European “Freakshow”, EU Threatens To Sue Germany Over QE Ruling In the latest European farce, the European Commission threatened to sue Germany after the country’s top court questioned the legality of the ECB’s bond-buying program, Bloomberg reported over the weekend. In what Nordea’s Andrewas Steno Larsen dubbed the “ongoing freakshow […]

  • The Federal Reserve & Its Ongoing Destruction Of The Bottom 90%

    ZeroHedge - May 11th 2020 10:35am EDT

    The Federal Reserve & Its Ongoing Destruction Of The Bottom 90% Authored by Lance Roberts via RealInvestmentAdvice.com, The Federal Reserve seemingly is an ongoing mission to destroy the bottom 90%. The one lesson that we have clearly learned since the 2008 “Great Financial Crisis,” is that monetary and fiscal policy interventions do not lead to increased levels […]

  • Obama Participated In Plot To Frame Flynn: Sidney Powell

    ZeroHedge - May 11th 2020 10:20am EDT

    Obama Participated In Plot To Frame Flynn: Sidney Powell Former President Barack Obama was in on the plot to frame former National Security Adviser Gen. Michael Flynn, according to his lead attorney, Sidney Powell. Flynn withdrew his guilty plea to providing a false statement to the FBI regarding his communications with a Russian ambassador, after […]

  • WHO Warns 500k Africans May Die As Antiviral Supplies Shrink Due To Coronavirus: Live Update

    ZeroHedge - May 11th 2020 10:17am EDT

    WHO Warns 500k Africans May Die As Antiviral Supplies Shrink Due To Coronavirus: Live Update Summary: WHO says 500k could die from AIDS thanks to disruptions in antiviral distribution South Korea’s latest cluster swells to 80+; school reopenings delayed Wuhan reports first new cases since reopening Germany hits another reopening ‘speed bump Iran sees spike […]

  • Fed’s Q2 GDP Estimate At -34.90%… So What Now?

    ZeroHedge - May 11th 2020 10:05am EDT

    Fed’s Q2 GDP Estimate At -34.90%… So What Now? Via Global Macro Monitor, Summary The Atlanta Fed’s GDP Now is estimating a -34.9 percent Q2 GDP print, which is 3.5x the largest quarterly decline in the post-WWII economy If realized, the 11.3 percent non annualized first-half GDP collapse in 2020 will approach the worse year […]

  • Joint Chiefs Members Sidelined By COVID-19 As Alarm Grows Over White House Exposure

    ZeroHedge - May 11th 2020 9:50am EDT

    Joint Chiefs Members Sidelined By COVID-19 As Alarm Grows Over White House Exposure Since the devastating arrival of the pandemic in North America, the Pentagon has been preoccupied with the incredibly difficult task of finding a balance between protecting the health of the troops on the one hand, while also maintaining optimum defense readiness while […]

  • The Bitcoin Halving Is Here. Are You Ready?

    ZeroHedge - May 11th 2020 9:35am EDT

    The Bitcoin Halving Is Here. Are You Ready? Authored by Tim Copeland via DeCrypt.co, After a four-year countdown and months of speculation, the Bitcoin halving is about to happen. At 7 pm UTC (3 pm ET) today, the new supply of Bitcoin will drop by 50%, meaning there are few satoshis being created each day. […]

  • Key Events In The Coming Week: Things Finally Slow Down

    ZeroHedge - May 11th 2020 9:21am EDT

    Key Events In The Coming Week: Things Finally Slow Down After two weeks of furious economic news and corporate reports, things are finally quieting down as is often is the week after payrolls, with Fed Chair Powell’s appearance on Wednesday likely the week’s top event alongside a dismal CPI report on Tuesday and the retail […]

  • Mobile Phone Activity From Wuhan Lab Suggests ‘Possible Shutdown’ In October Due To ‘Hazardous Event’

    ZeroHedge - May 11th 2020 9:05am EDT

    Mobile Phone Activity From Wuhan Lab Suggests ‘Possible Shutdown’ In October Due To ‘Hazardous Event’ An intelligence report conducted by private analysts and presented to the US Senate intelligence committee suggests that there may have been a “hazardous event” at the Wuhan Institute of Virology between October 6 and 11, during which time roadblocks were […]

  • Musk Cali-Carnage Continues: Analysts Warn Of “Morale Risk” While Liberals, Tesla Owners Berate CEO

    ZeroHedge - May 11th 2020 8:56am EDT

    Musk Cali-Carnage Continues: Analysts Warn Of “Morale Risk” While Liberals, Tesla Owners Berate CEO Elon Musk continued his war of words with, well… the entire world, which reacted with shock to Musk’s decision to sue Alameda County over not allowing him to re-open his Fremont factory.  Former Secretary of Labor and Berkeley professor Robert Reich, […]

  • Market Insights From May 2021: Remembering The End Of The Beginning Of The End

    ZeroHedge - May 11th 2020 8:50am EDT

    Market Insights From May 2021: Remembering The End Of The Beginning Of The End Authored By Bill Blain via MorningPorridge.com, “Sell in May – oh don’t bother – you are already away…”  It’s just over a year since 20mm Americans lost their jobs in a single month and United Airline’s failed $2 bln bond issue […]

  • Apple To Move A Fifth Of iPhone Production From China To India In Massive Supply-Chain Shift

    ZeroHedge - May 11th 2020 8:48am EDT

    Apple To Move A Fifth Of iPhone Production From China To India In Massive Supply-Chain Shift One reason why the global economy will never be the same after the coronavirus pandemic is long forgotten, is that supply-chains – which have been in place for decades, taking advantage of China’s cheap labor costs and keeping global […]