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  • Junk Bond Market Reopens With 6x Oversubscribed Offering From YUM! Brands

    ZeroHedge - Mar 30th 2020 3:20pm EDT

    Junk Bond Market Reopens With 6x Oversubscribed Offering From YUM! Brands For nearly a month, the high yield market was understandably frozen without a single junk bond deal pricing as yields exploded higher, forcing the Fed to step in with an unprecedented intervention to prop up investment grade debt, going so far as to buy […]

  • The “Small” Business Administration Is Now Bigger Than Walmart

    ZeroHedge - Mar 30th 2020 3:20pm EDT

    The “Small” Business Administration Is Now Bigger Than Walmart Authored by Simon Black via SovereignMan.com, As you’ve probably already heard, the US government unleashed a giant tsunami of money on Friday, passing a $2 trillion stimulus bill to help boost the economy during the Covid pandemic. Let’s put that number in context: $2 trillion is […]

  • Billionaire David Geffen Incites Social Media Riot After Posting Photos “Quarantined” On His $590 Million Superyacht

    ZeroHedge - Mar 30th 2020 3:05pm EDT

    Billionaire David Geffen Incites Social Media Riot After Posting Photos “Quarantined” On His $590 Million Superyacht We’re all for free speech, but maybe the height of a global crisis isn’t the best time to “floss” your $8 billion net worth like you’re making a cameo in a Cash Money Records music video. That’s the lesson […]

  • Peter Schiff Warns “Americans Are In For A Rude Awakening”

    ZeroHedge - Mar 30th 2020 2:52pm EDT

    Peter Schiff Warns “Americans Are In For A Rude Awakening” Via SchiffGold.com, All eyes have been on the stock market in recent weeks as it has reflected the fears about the coronavirus-induced economic shutdown and the hopes of massive stimulus. It’s been quite a rollercoaster ride. But in his podcast on March 27, Peter Schiff […]

  • Did Pension Funds Just Kill The Rally: Quarter-End Rebalancing Suspended Until Further Notice?

    ZeroHedge - Mar 30th 2020 2:42pm EDT

    Did Pension Funds Just Kill The Rally: Quarter-End Rebalancing Suspended Until Further Notice? Last week, with stocks at 2016 lows, without a buyer in sight, with stock buybacks dead and buried, we first reported that according to JPMorgan calculations, some “$850 Billion In Stock Buying Is About To Be Unleashed”, which promptly served as the […]

  • Platts: 5 Commodity Charts To Watch This Week

    ZeroHedge - Mar 30th 2020 2:20pm EDT

    Platts: 5 Commodity Charts To Watch This Week Via S&P Global Platts Insights blog, Demand destruction from the coronavirus outbreak will be top of mind for power and gas traders this week, while the ripples in the oil market are being felt in Saudi Arabia and Vietnam, albeit in different ways. The iron ore market, […]

  • Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors

    ZeroHedge - Mar 30th 2020 2:05pm EDT

    Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors In a veritable treatise on all that was wrong with The Fed’s actions, Jim Grant – founder and editor of Grant’s Interest Rate Observer – was somehow allowed nine minutes on CNBC’s Squawk Box to put America straight on what we are facing […]

  • Tent Hospital Erected In Central Park As Hosptial Ship Arrives In New York

    ZeroHedge - Mar 30th 2020 2:02pm EDT

    Tent Hospital Erected In Central Park As Hosptial Ship Arrives In New York With an unprecedented 66,000 coronavirus cases now reported in New York State, an emergency hospital was erected in tents in Central Park Sunday, as New York City’s staggering toll of coronavirus deaths rose to at least 776, pushing the statewide count past […]

  • Energy Collapse, Earnings Ennui, & Consumer Credit Cracks

    ZeroHedge - Mar 30th 2020 1:50pm EDT

    Energy Collapse, Earnings Ennui, & Consumer Credit Cracks Submitted by Peter Garnry, Head of Equity Strategy, Saxo Bank Summary: The energy sector has lost extraordinarily $1.15trn in market value this year as oil prices have plunged to almost unimaginable levels. In this equity update we provide investors with different ways to play the havoc in […]

  • Fed’s Kashkari Goes Full-On God-Complex, Lectures “This Is Not The Time To Worry About Moral Hazard”

    ZeroHedge - Mar 30th 2020 1:35pm EDT

    Fed’s Kashkari Goes Full-On God-Complex, Lectures “This Is Not The Time To Worry About Moral Hazard” Neel Kashkari, famous for coming out several days ago and giving one of the most bizarre 60 Minutes interviews of all time (an interview in which he claimed that the Fed had “infinite” cash) is now out giving life-lessons […]

  • Watch Live: Andrew Cuomo Delivers Monday Press Briefing, Confirms Another 7k Cases

    ZeroHedge - Mar 30th 2020 1:22pm EDT

    Watch Live: Andrew Cuomo Delivers Monday Press Briefing, Confirms Another 7k Cases Gov. Andrew Cuomo is delivering his latest press briefing…NY’s case count has climbed by 6,894 cases to 66,497… At the Javits Center in New York City giving a briefing on #Coronavirus. WATCH: https://t.co/Zx7b6P8wag — Andrew Cuomo (@NYGovCuomo) March 30, 2020 Tyler Durden Mon, […]

  • 2008 Playbook: Unknown Unknowns

    ZeroHedge - Mar 30th 2020 1:20pm EDT

    2008 Playbook: Unknown Unknowns Submitted by Nick Colas of DataTrek Research While Donald Rumsfeld may not be one’s go-to guy for decision making paradigms, his 2002 mention of “unknown unknowns” is worth considering just now as an investment framework. The idea here is that we all make judgments based on a tripartite spectrum of available […]

  • North Korea Confirms New Test Of ‘Super-Large Multiple Rocket Launcher’ 

    ZeroHedge - Mar 30th 2020 1:05pm EDT

    North Korea Confirms New Test Of ‘Super-Large Multiple Rocket Launcher’  Perhaps the only major non-coronavirus story to briefly grab international headlines over the weekend was North Korea’s firing off of two short-range ballistic missiles into the Sea of Japan. “The missiles were fired from the port city of Wonsan, flying about 140 miles to the northeast […]

  • In Late February, Nancy Pelosi Encouraged Large Groups To Congregate In Chinatown

    ZeroHedge - Mar 30th 2020 12:50pm EDT

    In Late February, Nancy Pelosi Encouraged Large Groups To Congregate In Chinatown Authored by Paul Joseph Watson via Summit News, A video clip from late February shows Nancy Pelosi encouraging large groups of people to congregate in San Francisco’s Chinatown before she would later go on to blame President Trump’s early “denial” for the spread […]

  • Gov. Abbot Orders Texas State Troopers To Enforce Quarantine At Louisiana Border

    ZeroHedge - Mar 30th 2020 12:35pm EDT

    Gov. Abbot Orders Texas State Troopers To Enforce Quarantine At Louisiana Border Texans are used to hearing talk of securing the southern border with Mexico, but the idea of checkpoints at the border with Louisiana is something no one ever imagined.  After late last week Louisiana and specifically New Orleans have emerged as the southern epicenter for […]

  • Second US Aircraft Carrier Is Facing A COVID-19 Outbreak Among Crew

    ZeroHedge - Mar 30th 2020 12:05pm EDT

    Second US Aircraft Carrier Is Facing A COVID-19 Outbreak Among Crew After late last week the USS Theodore Roosevelt diverted from its mission in the Western Pacific in order for its 5,000 crew to disembark in Guam to be quarantined due to coronavirus outbreak among sailors, now at at least 38 cases, a second Navy aircraft carrier is […]

  • Rabobank: “Policy Awe Is Behind Us While Sheer Economic Shock Is About To Overwhelm Markets”

    ZeroHedge - Mar 30th 2020 11:50am EDT

    Rabobank: “Policy Awe Is Behind Us While Sheer Economic Shock Is About To Overwhelm Markets” Submitted by Michael Every of Rabobank Awe & Shock; Questions & Quislings Last week was about policy-makers keeping us in awe. Central banks have done what central banks do – slash rates and pump in liquidity (the latest being the […]

  • Mortgage Lenders Demand Fed Bailout… After Blaming Fed For Forcing “Staggering, Unprecedented” Margin Calls

    ZeroHedge - Mar 30th 2020 11:42am EDT

    Mortgage Lenders Demand Fed Bailout… After Blaming Fed For Forcing “Staggering, Unprecedented” Margin Calls There’s another ‘epidemic’ ripping through America that, for many on Wall Street, is just as terrifying as COVID-19… and this time The Fed is to blame. We reported last week on the multitude of mortgage companies that were facing an existential […]

  • Oil Hovers Just Above 18 Year Low After Putin-Trump Hold Phone Call

    ZeroHedge - Mar 30th 2020 11:40am EDT

    Oil Hovers Just Above 18 Year Low After Putin-Trump Hold Phone Call WTI prices are back above $20.00 (barely) but remain notably down on the day after reports that Presidents Trump and Putin spoke on the phone today – with the Kremlin making clear that the call was at the request of the US president. […]

  • Where “I Bought It For The Dividend” Went Wrong

    ZeroHedge - Mar 30th 2020 11:20am EDT

    Where “I Bought It For The Dividend” Went Wrong Authored by Lance Roberts via RealInvestmentAdvice.com, In early 2017, I warned investors about the “I bought it for the dividend” investment thesis. To wit: “Company ABC is priced at $20/share and pays $1/share in a dividend each year. The dividend yield is 5%, which is calculated by […]

  • “This Could Be Devastating” – Amazon, Instacart Workers Plan Strikes Today

    ZeroHedge - Mar 30th 2020 11:05am EDT

    “This Could Be Devastating” – Amazon, Instacart Workers Plan Strikes Today As the virus crisis worsens in the US, employees at Amazon and Instacart are planning to strike today.  Amazon workers at a New York fulfillment center are preparing to strike around lunchtime to call attention to the company’s “lack of safety protocols during the COVID-19 pandemic,” reported […]

  • Dallas Fed Manufacturing Survey Crashes To Worst Level Ever

    ZeroHedge - Mar 30th 2020 10:49am EDT

    Dallas Fed Manufacturing Survey Crashes To Worst Level Ever In a stunning miss to expectations, March’s Dallas Fed Manufacturing Outlook survey crashed like never before (from +1.2 in February to -70.0 – massively below the -10.0 expectation). Source: Bloomberg As you can see, this is the weakest level ever and the most aggressive collapse ever. […]

  • Blain: “Don’t Be Fooled… April Is Going To Hurt”

    ZeroHedge - Mar 30th 2020 10:35am EDT

    Blain: “Don’t Be Fooled… April Is Going To Hurt” Authored by Bill Blain via MorningPorridge.com, “Damn, he was good. Came out of nowhere. Hit us with a full broadside, cut across our tail and took out our rudder. Damn fine gunnery.” According to the press, China is experiencing normal traffic jams, while the major threat […]

  • “This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation

    ZeroHedge - Mar 30th 2020 10:20am EDT

    “This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation Over the weekend, we reported that with the oil industry oversupplied by a mindblowing 20 million barrels daily as roughly 20% of total global output ends up unused in a world economy that has ground to a halt, and […]

  • “As Good As It Gets’? – Pending Home Sales Surge In February Ahead Of National Lockdown

    ZeroHedge - Mar 30th 2020 10:04am EDT

    “As Good As It Gets’? – Pending Home Sales Surge In February Ahead Of National Lockdown Once again, pending home sales will be the tie-breaker for February housing data (existing sales soared, new sales slipped) and expectations were that it would be weaker (after a huge surge in January) but instead it surged 2.4% MoM […]