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  • Bankrupt Oil Company Trolls Its Banks, Says They May Fail Too

    ZeroHedge - Mar 26th 2020 6:41pm EDT

    Bankrupt Oil Company Trolls Its Banks, Says They May Fail Too With US shale companies facing a tsunami of defaults, some companies took the initiative and filed for bankruptcy ahead of the (viral) curve, so to speak, well before of the current corona/crude chaos. One such company is EP Energy, an El Paso Corp spinoff […]

  • Chicago Mayor Warns, Those Who Go Outside To Exercise Risk Arrest

    ZeroHedge - Mar 26th 2020 6:25pm EDT

    Chicago Mayor Warns, Those Who Go Outside To Exercise Risk Arrest Chicago Mayor Lori Lightfoot threatened to shut down public areas on Wednesday after becoming increasingly frustrated with people disobeying the COVID-19 stay-at-home order. The mayor’s warning also made clear that anyone breaking the new measure would be fined or even possibly arrested, reported CBS […]

  • Is There Wasteful Spending In The Coronavirus Stimulus Bill? (Spoiler Alert: Bigly!)

    ZeroHedge - Mar 26th 2020 6:05pm EDT

    Is There Wasteful Spending In The Coronavirus Stimulus Bill? (Spoiler Alert: Bigly!) Authored by Adam Andrzejewski via Forbes.com, Last night, the U.S. Senate unanimously passed a $2 trillion “Phase III” emergency aid package to help America recover from the coronavirus lockdown. Previous phases provided funds for testing and paid family leave. Not one U.S. Senator […]

  • Insanity: Stocks Enter New Bull Market On Day Initial Claims Hit 3.3 Million

    ZeroHedge - Mar 26th 2020 6:00pm EDT

    Insanity: Stocks Enter New Bull Market On Day Initial Claims Hit 3.3 Million One would think that on the day the US reported 3.3 million (!) initial jobless claims, more than 5 times the weekly peak hit during the financial crisis, and a 30-sigma event… weekly jobless claims, a 30σ event pic.twitter.com/LEO7s5TXsH — 📈 𝙻𝚎𝚗 […]

  • Disaster Looms As Millions Of Americans Set To Lose Employer-Sponsored Health Insurance

    ZeroHedge - Mar 26th 2020 5:45pm EDT

    Disaster Looms As Millions Of Americans Set To Lose Employer-Sponsored Health Insurance With a record 3.3 million people filing for unemployment due to the Chinese coronavirus pandemic – the largest number of claims ever recorded in a single week since October, 1982 – millions of Americans stand to lose their employer-sponsored health insurance when they […]

  • Cuomo Approves ‘Splitting’ Of Ventilators As Some COVID-19 Patients Stay Intubated For Up To 30 Days

    ZeroHedge - Mar 26th 2020 5:15pm EDT

    Cuomo Approves ‘Splitting’ Of Ventilators As Some COVID-19 Patients Stay Intubated For Up To 30 Days Andrew Cuomo and the federal government are battling it out over 20,000 ventilators believed to be idling in a federal stockpile, ventilators that the governor – who is enjoying a moment of celebrity thanks to his swift and reassuring […]

  • Corporate Socialism: The Government Is Bailing Out Investors & Managers, Not You

    ZeroHedge - Mar 26th 2020 4:54pm EDT

    Corporate Socialism: The Government Is Bailing Out Investors & Managers, Not You Authored by Nassim Nicholas Taleb and Mark Spitznagel via Medium.com, The U.S. government is enacting measures to save the airlines, Boeing, and similarly affected corporations. While we clearly insist that these companies must be saved, there may be ethical, economic, and structural problems […]

  • Fitch Warns “Risk Of Near-Term Negative Rating Action” On USA Has Risen

    ZeroHedge - Mar 26th 2020 4:41pm EDT

    Fitch Warns “Risk Of Near-Term Negative Rating Action” On USA Has Risen In what some may call the ‘worst’ affirmation of a ‘AAA’ rating, Fitch has published a somewhat damning set of reasons why that AAA-rating may not last due to soaring debt, shrinking GDP, and the “helicopter-money” anti-virus actions. Notably, the sovereign credit risk […]

  • Tudor Jones: Market To Retest Lows Before Summer Rebound After COVID-19 “Throws Its Best Punch”

    ZeroHedge - Mar 26th 2020 4:25pm EDT

    Tudor Jones: Market To Retest Lows Before Summer Rebound After COVID-19 “Throws Its Best Punch” After years of subpar returns and wrong-way bets, hedge fund manager Paul Tudor Jones, a trader known for his slam-dunk trades during the 1987 crisis, and again during the financial crisis, is once again having a moment. After telling CNBC […]

  • S&P Futures Explode 40 Points Higher In One Tick On $7 Billion Market On Close Imbalance

    ZeroHedge - Mar 26th 2020 4:01pm EDT

    S&P Futures Explode 40 Points Higher In One Tick On $7 Billion Market On Close Imbalance How do you make sure that an extremely illiquid market trades like a penny stock? By accumulating enough shares to build up a market on close imbalance of over $7 billion, and wait for the exchange to disclose what […]

  • Kathy Griffin Hospitalized With “Unbearably Painful” Symptoms, Blames Trump

    ZeroHedge - Mar 26th 2020 3:45pm EDT

    Kathy Griffin Hospitalized With “Unbearably Painful” Symptoms, Blames Trump It has been almost three years since CNN fired Kathy Griffin for posing in a photo holding President Trump’s bloody severed head. Now Griffin is in the hospital, bashing Trump on his coronavirus response, while she gets tested. …Karma is a b*tch. Griffin tweeted on Wednesday […]

  • Tax-Dodging Cruise Industry Begs For Taxpayer Bailout Amid Collapse In Revenue

    ZeroHedge - Mar 26th 2020 3:40pm EDT

    Tax-Dodging Cruise Industry Begs For Taxpayer Bailout Amid Collapse In Revenue The cruise industry, which has dodged US taxes and regulations for years by registering their vessels overseas, is in dire need of cash in order to remain afloat – and aren’t confident that they can borrow from any of the existing taxpayer-funded loan programs […]

  • “I’ve Never, Ever, Ever Seen Anything Like This Before”

    ZeroHedge - Mar 26th 2020 3:30pm EDT

    “I’ve Never, Ever, Ever Seen Anything Like This Before” With the Fed buying $622 billion in Treasury and MBS, a staggering 2.9% of US GDP, in just the past five days… … any debate what to call the current phase of the Fed’s asset monetization – “NOT NOT-QE”, QE4, QE5, or just QEternity – can […]

  • To Boost Morale, Citi And Morgan Stanley Halt Layoffs With Banker Bonuses Set To Tumble

    ZeroHedge - Mar 26th 2020 2:40pm EDT

    To Boost Morale, Citi And Morgan Stanley Halt Layoffs With Banker Bonuses Set To Tumble Here’s a post everyone can timestamp and revisit in a few months time, and certainly around year end. In an effort to boost flagging employee morale amid the sheer market chaos, not to mention countless traders working from home unsure […]

  • Fast-Charging Stations Damage Tesla Car Batteries After Just 25 Cycles, New Study Shows

    ZeroHedge - Mar 26th 2020 2:40pm EDT

    Fast-Charging Stations Damage Tesla Car Batteries After Just 25 Cycles, New Study Shows A new whitepaper shows that the “fast charging” feature of many Tesla charging stations along the nation’s highways may actually be doing more harm than good. These stations can subject batteries to high temperatures and high resistance that can then lead them […]

  • Bezos And Other Corporate Execs Sold Billions In Stock Before COVID-19 Rocked Market

    ZeroHedge - Mar 26th 2020 2:25pm EDT

    Bezos And Other Corporate Execs Sold Billions In Stock Before COVID-19 Rocked Market Jeff Bezos and other corporate executives across the country sold approximately $9.2 billion in shares of their own companies between early February and the end of last week, salvaging potential losses of up to $1.9 billion, according to an analysis of more […]

  • US Vehicle Sales Volumes Are Down 50%-75% In March

    ZeroHedge - Mar 26th 2020 2:10pm EDT

    US Vehicle Sales Volumes Are Down 50%-75% In March If any company is bracing for the shock of falling U.S. auto sales, it’s got to be to be Group 1 Automotive. The company owns and operates 186 auto dealerships along with 242 franchises and 49 collision centers, mostly in the U.S. and U.K. And on Wednesday, […]

  • “It Is Likely Too Soon To Declare A Lasting Bottom”

    ZeroHedge - Mar 26th 2020 1:55pm EDT

    “It Is Likely Too Soon To Declare A Lasting Bottom” Authored by Laura Cooper, macro commentator at Bloomberg Extraordinary central bank measures alongside fiscal efforts have injected periods of calm into ailing equity markets. Yet with so much uncertainty still in the air, it is likely too soon to declare a lasting bottom. With more […]

  • Oil Plunges After IEA Hints Russia, Saudis Would Need To Completely Halt Production To Balance The Market

    ZeroHedge - Mar 26th 2020 1:52pm EDT

    Oil Plunges After IEA Hints Russia, Saudis Would Need To Completely Halt Production To Balance The Market With stocks soaring and even the VIX sliding today, there is one asset class that refuses to confirm the 3rd consecutive day of investor euphoria: no, not bonds which are being bought aggressively again (today’s 7Y auction was […]

  • Bizarre Rise In Libor Prompts Questions About One Or More Banks In Trouble

    ZeroHedge - Mar 26th 2020 1:40pm EDT

    Bizarre Rise In Libor Prompts Questions About One Or More Banks In Trouble Something odd happened late last week: with the Fed unleashing an unprecedented bazooka of liquidity in the market, cutting rates to zero, and backstopping virtually every security, one of the most closely watched credit market indicators did the opposite of what it […]

  • Morgan Stanley: “We Are Underwhelmed By This Low Participation Rally”

    ZeroHedge - Mar 26th 2020 1:29pm EDT

    Morgan Stanley: “We Are Underwhelmed By This Low Participation Rally” One of the recurring laments about the longest-ever bull market which ended with a thud earlier this month, was that upside levitation was traditionally driven by low-volume moves, while selloffs were “fast and furious”, and typically involved indiscriminate liquidations. As such, the rally of the […]

  • Is The Fed Trying To Inflate A 4th Bubble To Fix The Third?

    ZeroHedge - Mar 26th 2020 1:25pm EDT

    Is The Fed Trying To Inflate A 4th Bubble To Fix The Third? Authored by Lance Roberts via RealInvestmentAdvice.com, Over the last couple of years, we have often discussed the impact of the Federal Reserve’s ongoing liquidity injections, which was causing distortions in financial markets, mal-investment, and the expansion of the “wealth gap.”  Our concerns were […]

  • 7 Year Auction Prices At Lowest Yield Ever Amid Blockbuster Demand

    ZeroHedge - Mar 26th 2020 1:16pm EDT

    7 Year Auction Prices At Lowest Yield Ever Amid Blockbuster Demand While this week’s 2Y and 5Y auctions were solid with impressive stats and indicative of solid demand for US paper, today’s 7Y auction was nothing short of stellar. Printing at a yield of 0.68%, this was not just 57bps below February’s 1.247%, but more […]

  • Traders Betting That “$850BN Buyer” Is In The Market

    ZeroHedge - Mar 26th 2020 1:10pm EDT

    Traders Betting That “$850BN Buyer” Is In The Market On Tuesday, just as stocks posted what was the biggest dead-cat bounce (and short squeeze) since 1933, we cautioned bears that another “$850 Billion In Stock Buying Is About To Be Unleashed” when brought attention to the month- and quarter-end rebalancing, when some $850 billion in […]

  • El-Erian: The Race Between Economics & COVID-19

    ZeroHedge - Mar 26th 2020 12:55pm EDT

    El-Erian: The Race Between Economics & COVID-19 Authored by Mohamed El-Erian via Project Syndicate, With the coronavirus devastating one economy after another, the economics profession – and thus the analytical underpinnings for sound policymaking and crisis management – is having to play catch-up. Of particular concern now are the economics of viral contagion, of fear, […]