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  • Stocks Slump Triggers Market-Wide Trading Halt

    ZeroHedge - Mar 18th 2020 1:00pm EDT

    Stocks Slump Triggers Market-Wide Trading Halt The dollar is screaming higher as stocks crash, triggering a Level 1 circuit breaker and a market-wide trading halt… During US trading hours (Cash), these are the levels for the various circuit-breakers to hit: Level 1: 7% fall to 2352.14 before 15:25EDT/19:25GMT will prompt a 15-minute pause. Level 2: […]

  • This Is What A $12 Trillion Dollar Margin Call Looks Like

    ZeroHedge - Mar 18th 2020 12:54pm EDT

    This Is What A $12 Trillion Dollar Margin Call Looks Like ‘Mystery Chart’ time… No, it’s not Volkswagen, or even Tesla. This is the world’s reserve currency and this is what happens when a global margin call reveals there is a $12 trillion short squeeze.   This is the biggest 7-day gain for the USDollar […]

  • MSNBC Legal Analyst: Trump Must Be Investigated For Negligent Homicide, Manslaughter

    ZeroHedge - Mar 18th 2020 12:42pm EDT

    MSNBC Legal Analyst: Trump Must Be Investigated For Negligent Homicide, Manslaughter Authored by Jonathan Turley, We recently discussed how an American University professor called for the impeachment of President Donald Trump over his handling of the coronavirus outbreak. Not to be outdone, MSNBC legal analyst Glenn Kirschner is now declaring that Trump should be charged with negligent […]

  • Mark Cuban On Virus-Bailouts: “No More Buybacks. Not Now, Not A Year From Now. Not Ever.”

    ZeroHedge - Mar 18th 2020 12:25pm EDT

    Mark Cuban On Virus-Bailouts: “No More Buybacks. Not Now, Not A Year From Now. Not Ever.” Mark Cuban appeared on CNBC this morning to talk about the idea of the Fed and the Treasury collectively bailing out the entire economy. Ostensibly still disgusted from The Great Recession, where zero executives were held accountable and most of the […]

  • Trump Invokes Defense Production Act In Coronavirus Response, Deploys FEMA In All Regions

    ZeroHedge - Mar 18th 2020 12:22pm EDT

    Trump Invokes Defense Production Act In Coronavirus Response, Deploys FEMA In All Regions President Trump has invoked the Defense Production Act in the US response to the Coronavirus pandemic, noting that HUD will suspend foreclosures through end of April, as work is underway to evaluate possibility of self-tests for virus. The Defense Production Act (DPA) […]

  • The “Deeply Flawed, Immoral, & Unlawful” House Of Cards That Ben Built

    ZeroHedge - Mar 18th 2020 12:07pm EDT

    The “Deeply Flawed, Immoral, & Unlawful” House Of Cards That Ben Built Authored by Steve Brown via TheDuran.com, After credit markets froze in the subprime crash of 2008-2009 Ben Bernanke and the Fed conjured up a number of monetary tricks to keep the system afloat.  POMO, Twist, QE, TARP, repos, and currency swaps (and other […]

  • Bernie Sanders Suspends Presidential Campaign Over Biden’s “Insurmountable” Lead

    ZeroHedge - Mar 18th 2020 11:51am EDT

    Bernie Sanders Suspends Presidential Campaign Over Biden’s “Insurmountable” Lead The prayers of millions of Democrats hoping for party unity in a time of crisis have been answered. Bernie Sanders has decided to suspend his campaign, Axios reports. Developing… Tyler Durden Wed, 03/18/2020 – 11:51

  • Finally Some Good News: Commercial Paper Rates Slide, FX Basis Improves

    ZeroHedge - Mar 18th 2020 11:42am EDT

    Finally Some Good News: Commercial Paper Rates Slide, FX Basis Improves After the Fed went into full panic mode, unleashing at least two of the crisis measures that were first launched in the depth of the Global Financial Crisis, which however failed to ease either the dollar shortage, with the Bloomberg dollar index surging to […]

  • Watch Live: White House Holds Daily Virus Briefing After ‘Depression Era’ Unemployment Warning

    ZeroHedge - Mar 18th 2020 11:25am EDT

    Watch Live: White House Holds Daily Virus Briefing After ‘Depression Era’ Unemployment Warning The White House coronavirus task force will deliver Wednesday’s daily briefing at 11:30 am ET. Last night, Steven Mnuchin reportedly tried to explain to a group of Republican Senators that if they didn’t vote for the administration’s massive $1 trillion+ stimulus package, […]

  • Canada Unveils Stimlus Package Worth 3% Of GDP

    ZeroHedge - Mar 18th 2020 10:59am EDT

    Canada Unveils Stimlus Package Worth 3% Of GDP When discussing the most important hypothetical question facing traders today, namely what size of fiscal stimulus would be sufficient to put a floor in the market, yesterday we showed charts from JPMorgan economists estimating the amount of fiscal thrust in crises over the past 20 years expressed […]

  • 5.7 Magnitude Earthquake Hits Salt Lake City, Airport Shutdown

    ZeroHedge - Mar 18th 2020 10:46am EDT

    5.7 Magnitude Earthquake Hits Salt Lake City, Airport Shutdown A magnitude 5.7 earthquake shook Utah’s Salt Lake City area Wednesday morning, knocking out power to many in the region and prompting the FAA to ground all flights at Salt Lake City International Airport We are receiving earthquake reports from Logan to Riverton. The strongest shaking […]

  • Infection Trajectory: See Which Countries Are Flattening Their Covid-19 Curve

    ZeroHedge - Mar 18th 2020 10:45am EDT

    Infection Trajectory: See Which Countries Are Flattening Their Covid-19 Curve At the outset of 2020, the world looked on as China grappled with an outbreak that seemed be spiraling out of control. But now, as Visual Capitalist’s Nick Routley notes, two months later, the situation is markedly different. After aggressive testing and quarantine efforts, China’s […]

  • WTI Holds Near 18 Year Lows After Inventory Build, Record Production

    ZeroHedge - Mar 18th 2020 10:36am EDT

    WTI Holds Near 18 Year Lows After Inventory Build, Record Production With Russia-Saudi (supply) standoff continuing and the global demand suck as nation by nation locks down from Covid-19, oil prices collapsed to their lowest since 2002 (with WTI trading with a $24 handle)… API Crude -421k (+3.1mm exp) Cushing +66k Gasoline -7.8mm (-2.4mm exp) […]

  • In The Pandemic, It’s Every Nation For Itself

    ZeroHedge - Mar 18th 2020 10:25am EDT

    In The Pandemic, It’s Every Nation For Itself Authored by Patrick Buchanan via Buchanan.org, “The lamps are going out all over Europe, we shall not see them lit again in our life-time,” said Foreign Secretary Sir Edward Grey to a friend on the eve of Britain’s entry into the First World War. Observing from afar […]

  • There Is Something About This Crazy Treasury Move That Nobody Can Explain

    ZeroHedge - Mar 18th 2020 10:10am EDT

    There Is Something About This Crazy Treasury Move That Nobody Can Explain On one hand, the recent surge in 10Y yields is precisely what one – and certainly we – would expect: after all, the official arrival of helicopter money in the form of $1,000 checks to most Americans means that people’s expectations for government […]

  • Privatizing Profits And Socializing Losses

    ZeroHedge - Mar 18th 2020 9:55am EDT

    Privatizing Profits And Socializing Losses Submitted by Market Crumbs, Investors continued to flee as fast as they could from risk assets yesterday, with markets getting completely annihilated as the fallout from the coronavirus continues to intensify. The Dow dropped nearly 3,000 points, or nearly 13%, marking its worst day since the “Black Monday” crash in […]

  • Trump Closes Canadian Border As Outbreak Sees Sudden Resurgence In Asia: Live Updates

    ZeroHedge - Mar 18th 2020 9:43am EDT

    Trump Closes Canadian Border As Outbreak Sees Sudden Resurgence In Asia: Live Updates Update (0940ET): President Trump just tweeted that the US will be closing the Canadian border “by mutual consent” – adding that trade and other “essential” traffic wouldn’t be interrupted. We will be, by mutual consent, temporarily closing our Northern Border with Canada […]

  • De Blasio Says “Military Assistance Needed” To Combat NYC Outbreak

    ZeroHedge - Mar 18th 2020 9:39am EDT

    De Blasio Says “Military Assistance Needed” To Combat NYC Outbreak New York City Mayor Bill de Blasio said Wednesday that NYC needs “military assistance” to combat the outbreak. His comment marks the first time that a mayor of a major American city has called for direct intervention from the military. Though it’s not exactly surprising: […]

  • Dow Drops Below 20k, Circuit-Breakers Imminent

    ZeroHedge - Mar 18th 2020 9:36am EDT

    Dow Drops Below 20k, Circuit-Breakers Imminent After yesterday’s hope-filled day of gains on massive monetary and fiscal largesse, futures traded limit-down overnight and ETFs signaled a 6.5-7% loss in the pre-market but bounced to the futures-limit-down level at the open… The Dow traded back below 20k… Nasdaq is modestly outperforming but everything is down hard… […]

  • Coronavirus May Be The Reality Check That Ends The World’s Love Affair With Elon Musk

    ZeroHedge - Mar 18th 2020 9:17am EDT

    Coronavirus May Be The Reality Check That Ends The World’s Love Affair With Elon Musk For those that have been following our coverage of Tesla over the past two weeks, you likely already know that Elon Musk has essentially “sold a naked put option” on the coronavirus – in other words, by publicly stating that […]

  • Spanish Olympic Committee Head Calls For Tokyo Games To Be Postponed

    ZeroHedge - Mar 18th 2020 9:13am EDT

    Spanish Olympic Committee Head Calls For Tokyo Games To Be Postponed Dozens of Olympic qualifier matches have been postponed because of the coronavirus pandemic, but the official position of the Japanese government is that the games should still be held. Though news that a top Olympics Organizing Committee Official in Japan tested positive for the […]

  • Rabobank: Another Remarkable Day In What Is Clearly Fin-De-Regime

    ZeroHedge - Mar 18th 2020 9:05am EDT

    Rabobank: Another Remarkable Day In What Is Clearly Fin-De-Regime Submitted by Michael Every of Rabobank Too much – and still not enough Another remarkable day in what is clearly fin-de-regime. Most people don’t want to see it like that, but a month, a week, or even a day ago they didn’t think this was anything […]

  • Remember When Yellen Said “We Won’t See Another Crisis In Our LIfetimes”? Well…

    ZeroHedge - Mar 18th 2020 8:50am EDT

    Remember When Yellen Said “We Won’t See Another Crisis In Our LIfetimes”? Well… Three years ago, former Fed Chair Janet Yellen  confirmed the imminence of a financial crisis by stating that: “Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re […]

  • Italian Debt Crashes Prompting ECB Intervention

    ZeroHedge - Mar 18th 2020 8:43am EDT

    Italian Debt Crashes Prompting ECB Intervention Welcome to the brave new world of a helicopter money, aka the Magic Money Tree (MMT), where everything is crashing and nowhere more so than in Europe, which having made a dramatic U-turn on its historic fiscal stinginess, and where a flood of debt is now expected, bond yields […]

  • US Housing Starts, Permits Slide In February Ahead Of Virus Impact

    ZeroHedge - Mar 18th 2020 8:39am EDT

    US Housing Starts, Permits Slide In February Ahead Of Virus Impact Housing Starts and Building Permits were understandably expected to contract MoM in February as the virus crisis began to weigh on confidence (though rates collapsed and sent homebuilder stocks soaring) and they did. Housing starts fell 1.5% MoM (better than the 4.3% drop expected […]