Evening Headlines
Bloomberg:
- Regulator Tells Australian Banks to Boost Cyberattack Defences.
- Asian Equities Advance as Bank-Sector Fears Ease: Markets Wrap.
- Oil Holds Surge as Supply Disruption Adds to Market Optimism.
- Three Things to Watch as Congress Begins Banking Hearings.
- Schwab’s $7 Trillion Empire Built on Low Rates Is Showing Cracks.
- Billionaire Family Expands First Citizens by Scooping Up Failed Banks.
- Binance Crypto Empire Dwarfs FTX at Peak and Dominates Industry.
- FDIC Is Probing Management’s Conduct in SVB, Signature Bank Failures.
- Banking Crisis Raises Concerns About Hidden Leverage in the System.
Wall Street Journal:
- Israel’s Netanyahu Suspends Judicial Overhaul Plan.
- A Tale of Two Housing Markets: Prices Fall in the West While the East Booms.
- Employers Need to Put the Squeeze on Woke Intolerance. Young people like the Stanford students who heckled Kyle Duncan should be unemployable.
- The FDIC’s Sweetheart Bank Deal for SVB. First Citizens scores a great deal, while the deposit insurance fund takes a $20 billion hit.
- America Pulls Back From Values That Once Defined It.
- U.S. Faces Electrician Shortage as It Tries to Go Green.
- China Boosts Loans for Belt and Road Borrowers.
Fox News:
CNBC.com:
- Here’s why the U.S. had to sweeten terms to get the SVB sale done.
- First Citizens takeover of SVB won’t solve the bank run problem, Jim Cramer says.
- Binance and founder Changpeng Zhao violated compliance rules to attract U.S. users, CFTC alleges.
- Here are 9 eye-popping allegations in the U.S. government’s lawsuit against Binance.
- Lyft brings in new CEO, pushing co-founders from helm after stock’s plunge.
- Disney begins layoffs of 7,000 this week in first of three phases.
- 3 charts show U.S. bank failures causing stock-market pain beneath the surface.
- Opinion: Sen. Sherrod Brown: American consumers losing power over their savings and paychecks is an emergency, too.
- These housing markets are cooling the most. Tech cities are high on the list.
- There’s another looming cliff — the end of the student-loan repayment moratorium.
Zero Hedge:
- 6 Dead At Nashville Christian School Attack, 28 Year-Old Shooter Identified As Transgender.
- Millennials Dominate Insolvencies In Canada As Credit Card, Student Loan And Other Debts Pile Up.
- Viagra Sales Went Soft As Exclusivity Expired.
- CFTC Calls Ether A Commodity In Binance Suit, Highlighting Complexity Of Classification.
- In "Huge" Chinese Push By Aramco, World's Biggest Oil Producer Will Build $10BN Petrochemical Complex, Buy 10% Stake In Top Chinese Refinery.
- "Power At Every Level", Brags Chicago Teachers Union, As 200 Members Skip School For Political Workshop.
- US stocks were mostly higher and bonds declined amid receding banking sector fears - Newsquawk Asia-Pac Market Open.
- US stocks were mostly higher and bonds declined amid receding banking sector fears - Newsquawk Asia-Pac Market Open.
- Global Financial Risks Have Risen Amid Bank Turmoil, IMF Chief Warns.
- Baltimore Lawmakers Unite To Stop Biden's EPA From Sending Toxic Ohio Train Waste To Facility.
- Bonds tumble as banking prospects improve - Newsquawk US Market Wrap.
- Is Elon Musk's Growing Global Influence A Dilemma For The White House?
- Bitcoin, Bonds, Big-Tech, & Bullion Breakdown As Banks & Black Gold Bounce.
Newsmax:
TheGatewayPundit.com:
- 28-Year-Old Deceased Nashville Shooter Identified- ‘Audrey Hale” an Illustrator, Identifies as Transgender – Included Manifesto (PHOTOS).
- Fulton County Commissioners Attack Mexican-American Colleague: “Personally Offended by Your White Privilege” and “You Sound Like a ‘Karen’”.
- EXCLUSIVE: BPro-Knowink Election Software Used Throughout US Is Connected to Internet, Not Certified and Is Able to Backdate Election Records (Hawaii).
- Instead of Addressing Nashville Shooting, Biden Begins Event by Talking About Jeni’s Ice Cream: ‘I Came Down Because I Heard There Was Chocolate Chip Ice Cream’ (VIDEO).
- Here We Go Again… Massive 70 Car Train Derails in North Dakota Spilling Hazardous Materials.
- Good News: Italy Bans Insect Flour from its Pasta and Pizza.
- EXCLUSIVE: While the Country Was Focused on PA’s Corrupt 2020 Election Results – PA Was Busy Paying BPro Voting Systems Millions for Future Work.
- “This Market is Going to be Different in a Couple of Weeks” – Kenyan President Ruto Urges His Constituents Who Hold US Dollars to Get Rid of Them (VIDEO).
- “Only One China in the World” – Honduras Officially Cut Ties with Taiwan, Establishes Diplomatic Relations with China.
- Joe Biden Taunts Americans About Open Border – Blames Republicans for Fentanyl Crisis in America.
The Epoch Times:
Twitter:
- @MSmelkinsonPhD - Reading: Lowest in 30 years Math: lowest since testing began 54 years ago Mental health: ED visits up 50% Physical activity: "It's like wet cement" Future: "This will be a kind of lost generation" Predictable: totally Apologies: none Accountability: none.
- @FiveTimesAugust - Keep sharing this until everyone in the United States has watched it. (video)
- @MrAndyNgo -
Breaking: The Antifa group organizing the "Trans Day of Vengeance"
outside the Supreme Court has locked down its Twitter account following the deadly mass shooting on a Christian school in Nashville by a #trans shooter.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 943,911 Reports(+1,877 from prior week) Through March 10th, 2023.
SKirsch.com:
- Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.
Night Trading
Morning Preview Links
BOTTOM LINE: Asian indices are modestly higher, boosted by consumer and commodity shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
- Asian equity indices are unch. to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 147.25 +1.75 basis points.
- China Sovereign CDS 85.75 unch.
- China Iron Ore Spot 118.8 USD/Metric Tonne -.3%.
- Bloomberg Emerging Markets Currency Index 47.7 +.05%.
- Bloomberg Global Risk-On/Risk Off Index 49.9 +.9%.
- Bloomberg US Financial Conditions Index -.57 -6.0 basis points.
- Volatility Index(VIX) futures 22.3 -.08%.
- Euro Stoxx 50 futures +.24%.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.19%.
BOTTOM LINE: Asian indices are modestly higher, boosted by consumer and commodity shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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