Evening Headlines
Bloomberg:
- IMF Warns It’s Too Soon to Sound All-Clear on Financial Turmoil.
- China 10-Year Bond Yield Drops to Lowest Since November.
- Asia Risks Losing Most From Rising ‘Geofragmentation,’ IMF Warns.
- Asia Stocks Rise, Dollar Steady Before US CPI Data: Markets Wrap.
- Russia’s Murky Measures Keep Its Oil Flowing Despite Sanctions.
- Oil Steadies After Surge With Supplies and Stockpiles in Focus.
- Inflation Data Will Shatter the Stock Market Calm, Goldman Partner Warns.
- Wells Fargo’s Harvey Warns S&P 500 Is Set for a 10% Correction.
- Best Pre-Earnings Stock Rally Since 2009 Sets High Bar for Firms.
- Bank Failures Start Getting Cited as Risk Factors After SVB Collapse.
- Traders Are Betting Against Airlines at Highest Rate Since Pandemic.
- Fed Officials Signal Divide Over Whether to Hike Rates Again.
- Big Banks That Shored Up First Republic Pushed to Boost Reserves.
- Fed’s Harker Is Prepared to Do More If Needed to Curb Inflation.
- Fed’s Kashkari Sees Signs of Calm Restored to Banking Sector.
Wall Street Journal:
- Ernst & Young Halts Breakup Plan.
- Bank Collapses Test FDIC’s ‘Standby CEOs’.
- U.S. Officials Haven’t Been Allowed to Visit Evan Gershkovich.
- Philly, Fraud and ‘Equity’ Gone Wrong. The feds steer billions to ‘disadvantaged’ firms, and one analysis says fraud is ‘pervasive.’
- New York Police Plan to Deploy Robotic Dogs.
- Next Wave of Remote Work: Outsourcing Jobs Overseas.
Fox News:
CNBC.com:
- Google drops vaccine requirement to enter buildings, says ‘world is in a very different place’.
- Walmart chases higher profits powered by warehouse robots and automated claws.
- Banks in ‘more precarious situation’ creating risks for global growth, IMF chief economist warns.
- IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990.
Zero Hedge:
- Watch: Body Cam Video From Officers Responding to Louisville Rampage.
- Walmart Abandons Unprofitable Chicago Stores After Investing "Hundreds Of Millions" In City.
- Liftoff Imminent: China Injects Record Credit To Kickstart Economy.
- Online Grocery Prices Up 10.3 Percent In March As Inflation Continues To Bite.
- Blackstone Raises $30 Billion For "Largest Ever" Real Estate Drawdown Fund To Capitalize On Commercial Real Estate Crisis.
- IRS, Americans Unprepared To Shoulder Burden Of New Tax Laws, Republicans Warn.
- Weight Watches Parent's Stock Soars Again On Obesity-Drug, Goldman Turns Bull.
- Dangerous Overreach In Manhattan And Tennessee.
- 22-Year-Old National Guard Soldier Suffers Two Heart Attacks, Neurological Issues After Moderna Vax.
- Bragg Sues Jim Jordan To Stop 'Brazen And Unconstitutional' Attack On Trump Prosecution.
- US Deems WSJ Reporter 'Wrongfully Detained' - Paving Way For Possible Swap.
- Biden Signs Bill Formally Ending COVID-19 Public Health Emergency.
- US stocks were choppy and in tight ranges Tuesday with trepidation ahead of Wednesday's CPI and FOMC minutes; Crude prices rip higher - Newsquawk Asia-Pac Market Open.
- Justice Perverted: We Need A New Magna Carta.
- Stocks chop in cautious trade ahead of CPI and FOMC minutes - Newsquawk US Market Wrap.
- Biden White House Played Role In FBI Raid On Trump’s Mar-a-Lago Home: Documents.
- Stocks Squeezed Before Late-Day ODTE Profit Taking As Bitcoin Storms To 10 Month Highs.
Newsmax:
- Gov. Noem: Bragg 'Malfeasance' 'So Far Out of Line'.
- Huckabee: If 1/6 Was Insurrection, So Was Tenn. Protest.
- Rep. Hunt: Biden's Blaming Is 'Opposite of Leadership'.
TheGatewayPundit.com:
- BREAKING: LEAKED US DEFENSE DOCUMENTS SHOWS WESTERN FORCES ON THE GROUND IN UKRAINE! …And Countries ARE NAMED in Leaked Document!
- Hawley Accuses Merrick Garland of Lying Under Oath About the FBI Not Targeting Catholic Parishes.
- Maryland School District Removes Parental Right to Opt-Out of Certain Curriculum, Makes LGBTQ-Themed Books Required Reading.
- SHOCKING: On Easter Sunday FTX CEO Releases Its Assessment of FTX’s Lack of Cyber, Financial, and Internal Accounting Controls.
- Feds’ Foreign-Corruption Double Standard: They Protected Bidens Even as They Bore Down on Trumpworld.
- The Japanese Substance In The “Top Position” As Therapy For Post-Vaccine and Post-COVID Syndromes — Dr. Peter McCullough (VIDEO).
- EXCLUSIVE: Was CIS Using “Albert Censors” to Steal States’ Data to Use in Nefarious Ways in 2020 Election?
- PRAY For Critically Wounded 26-Yr-Old Hero Louisville Cop, Nicholas Wilt, Who Was Shot In The Head After “Running toward the shooter”—Graduated From Police Academy Only Two Weeks Ago [POLICE SCANNER AUDIO].
- Louisiana State Rep. Jeremy LaCombe is Third Democrat to Switch to Republican Party in a Month.
The Epoch Times:
Twitter:
- @songpinganq - The payroll of all civil servants and the employees of all state-owned enterprises in China's Suzhou city will be paid with CBDC from April 2023.
- @PhilHollowayEsq - Bud Light suffers bloodbath as longtime and loyal consumers revolt against transgender campaign “Sales of Anheuser-Busch bottled products dropped 30% over the past week, while draught beer plummeted 50%”.
- @charliebilello - Loan availability for Small Businesses fell sharply last month, worst levels in over a decade. (graph) The average interest rate on US credit card balances has crossed above 20%. With data going back to 1994, that's the highest rate we've ever seen, and is 5.5% above the rate from just a year ago.
- @FoxNashville - DRAG: The popular toy brand, Build-A-Bear, has come out with a drag queen inspired teddy bear.
- @zerohedge - Small Biz Saying Good Time to Expand Lowest Since June 1980. (graph) JOLTS is still overestimating the jobs-workers gap by ~1MM, per Goldman estimates. (graph)
- VigilantFox - @TuckerCarlson Questions the Role of Psychotropic Medications Following Louisville Bank Shooting " ... the effect of pharmaceuticals on mass shootings. Is anyone talking about that? Can we get a tox screen possibly? Are we allowed to ask that, or does Pfizer not want us to?" (video)
- @rawsalerts - Multiple agencies are on scene to a massive dairy farm explosion that took place yesterday evening. (video)
- @ianmSC - Despite their lockdowns, mask mandates, passports and exceptionally highly vaccination and booster rates, the mortality rate in New Zealand skyrocketed in 2022. Wonder when the media will be explaining this after they praised for New Zealand for "eliminating" and "beating" COVID.
- @kylenabecker - According to a recent report, distributors are “spooked” by the company’s decision to market @BudLight with transgender blogger Dylan Mulvaney.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 947,487 Reports(+1,667 from prior week) Through March 24th, 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 mostly lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 128.25 -4.25 basis points.
- China Sovereign CDS 70.75 -4.5 basis points.
- China Iron Ore Spot 118.75 USD/Metric Tonne -.88%.
- Bloomberg Emerging Markets Currency Index 47.7 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 55.7 +1.0%.
- Bloomberg US Financial Conditions Index -.14 -4.0 basis points.
- Volatility Index(VIX) futures 21.2 -.26%.
- Euro Stoxx 50 futures -.07%.
- S&P 500 futures +.04%.
- NASDAQ 100 futures +.03%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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