Evening Headlines
Bloomberg:
- China LGFV Bond Sales Boom Again as Beijing Steps Up Support.
- Housing ‘Vicious Spiral’ Drags Australia Into Deepening Crisis.
- Yellen Says Yen Intervention Understandable If Due to Volatility.
- Global Economy Poised to Slow as Rate Hikes Bite, OECD Says.
- COP28’s Biggest Conflicts Are on Display at the UN General Assembly.
- Asia Stocks Set for Cautious Start as Fed in Focus: Markets Wrap.
- Oil’s Blistering Rally Takes Breather as Investors Turn to Fed.
- Fed Set to Pause Rate Hikes, But Don’t Count Out Another Increase.
- Dollar Rally Is Crushing One of the Most Popular Trades of 2023.
- The Rise in Oil Prices Is a Problem for Fed’s Soft Landing.
- UAW Strike Puts Most-Exposed Auto Suppliers at Risk of Losing $38 Billion.
- Most-Powerful CEOs Hedge Bets in New Era of Economic Upheaval.
- Traders Make Late Dash Into Bets Fed Stays Higher for Longer.
Zero Hedge:
- Ray Epps Charged With Misdemeanor In Long-Delayed Wrist-Slap.
- Russell Brand Demonetized After Sexual Assault Claims.
- NYT In Rare About-Face Now Says Ukraine (Not Russia) Behind Mass Casualty Missile Strike On Market.
- California Legislature Approves $25 Per Hour Healthcare Worker Minimum Wage Bill.
- Trump Gambles On GOP Support For Abortion Compromise.
- Permanent Strike: Ford Lays Off 600 Workers Due To UAW Strike.
- UN To Discuss How To Better Control The World At Annual General Assembly.
- FDA Has 'Gone Rogue' In Its Approval Of New COVID-19 Boosters: Dr. Robert Malone.
- US stocks finished lower on the eve of the FOMC as yields climbed after hot Canadian CPI data and oil hit a YTD peak - Newsquawk Asia-Pac Market Open.
- India Rejects Trudeau's "Absurd" Accusations It Assassinated Canadian Citizen, Expels Diplomat In Tit-For-Tat.
- Zelensky Disappointed? Biden's Lackluster UN Speech Only Briefly Focused On Ukraine.
- WTI Holds Gains After API Reports Bigger-Than-Expected Crude Draw.
- Deliberately Distorting Data To Downplay Devastation Of Bidenomics.
- Stocks and Bonds slide after hot Canada CPI on eve of FOMC - Newsquawk US Market Wrap.
- The Peculiar Power Of Denial.
- Bond Yields Blasted To 16 Year Highs; Stocks Sink Ahead Of Fed.
- AI Bubble Bursting: Hedge Funds Are Furiously Shorting Semi Stocks.
- Is The Gig Economy On The Verge Of Destruction?
- Goldman Lists 300 Volatility Catalysts Through Year-End Which Will Propel VIX Higher.
Wall Street Journal:
CNBC.com:- The Unexpected New Winners in the Global Energy War.
- Marlboro Maker Hits Reset on $2 Billion Bet on Medicine
- DOJ Scrutinizing Musk Perks at Tesla Going Back Years
- China’s Former Foreign Minister Ousted After Alleged Affair
- Bidenomics Is Unsustainable. Subsidies for unions will drive labor costs up, making the U.S. uncompetitive.
- Maui Firefighters Took Lunch as Lahaina Blaze Seemed Dead. Then It Grew..
- Fed’s Next Challenge: $100 Oil.
- Companies Stall Climate Action Despite Earlier Promises.
- All Pregnant Women Should Be Screened for Blood-Pressure Disorders, U.S. Advisers Say.
- Here’s everything the Fed is expected to do Wednesday.
- Microsoft projects two new areas of growth for gaming, leaked document says: Mobile and ads.
- Meet Airbnb’s official party pooper, who reduced partying by 55% in two years.
- Eli Lilly sues clinics allegedly selling knockoff versions of Mounjaro diabetes drug.
- Klaviyo valued at $9.2 billion after pricing IPO above range: Reuters.
- Ford barrels toward new Canadian strike that could affect F-Series pickup production.
MarketWatch.com:
- The Fed will decide to cut rates when? Here are 5 Wall Street predictions through 2024.
- Intel’s stock slides to become Dow’s worst as inventory ‘air pocket’ overshadows AI chip rollouts.
- Steelcase expects ‘significantly improved’ profit, as more employees return to offices.
- Government shutdown: Analysts warn of ‘perhaps a long one lasting into the winter’.
- Retailers compete to be first to hold holiday sales in a bid to spur flagging demand.
Newsmax:
TheGatewayPundit.com:- THE GREAT RESET: Radical Phoenix Mayor Kate Gallego Begins Implementing Climate Organization’s Goal to Ban Meat, Dairy, and Private Vehicles In 14 US Cities by 2030.
- Judicial Watch Uncovers Key Documents and Photos on Chinese Covid Labs in California.
- Rep. Matt Gaetz Calls for Repatriation of US Taxpayer Dollars Sent to Ukraine (VIDEO).
- NYC May Remove George Washington Statues, Create Reparations Task Force to “Consider the Impact of Slavery and Past Injustices For African Americans”.
- PELOSI LIED! Former Capitol Police Chief Sund Testifies He Had 3 Calls with Pelosi on Jan. 6 – Pelosi Said They Never Spoke – But Sund Says He Has the Receipts! (VIDEO).
- NYC Mayor Appears to Snub Biden Multiple Times as President Visits City.
- “What the F*** are Y’all looking at? I Fight Kids” – 13-Year-Old Child Savagely Beaten by Female Thug at a Los Angeles McDonald’s While Bystanders Watch and Record (VIDEO).
- California’s Democrat Legislators Vote to Ban Grass Lawns.
- JUST IN: Rep. Matt Gaetz Drafts Subpoena for Hunter Biden’s Records and Deposition, Calls on Kevin McCarthy to Sign it: “Millions of Americans Are Wondering if You’re Serious”.
- DHS Announces Establishment of New “Homeland Intelligence Experts Group”.
- REGIME THEATRICS: After 2.5 Years DOJ Finally Charges Suspected Ray Epps with One Misdemeanor After He Was CAUGHT ON VIDEO Urging Trump Supporters to ENTER the US Capitol – And Was Caught Attacking Police!
- 20 Common Functions of American Life the Government Wants to Regulate, Restrict or Outright Ban.
- UPDATE: Democrat Mayoral Candidate John Gomes Files Lawsuit After Video Shows Democrat Opponents Stuffing Ballot Drop Boxes Numerous Times with Hundreds of Ballots.
The Epoch Times:
- US Sanctions Chinese Companies Over Iran's Drones, Military Aircraft.
- US, EU Seek to Curb China's Steel Power Play With New Tariffs.
Twitter:
- @matttttt187 - 𝐓𝐡𝐢𝐬 𝐯𝐢𝐝𝐞𝐨 𝐜𝐥𝐢𝐩 𝐦𝐢𝐠𝐡𝐭 𝐛𝐞 𝐰𝐡𝐲 𝐑𝐮𝐬𝐬𝐞𝐥𝐥 𝐁𝐫𝐚𝐧𝐝 𝐢𝐬 "𝐛𝐞𝐢𝐧𝐠 𝐚𝐭𝐭𝐚𝐜𝐤𝐞𝐝." (video)
- @_aussie17 - This is one of the most important clips to watch to understand why the experimental vaccines were approved. (video)
- @unusual_whales - In over 20 years, the national average rent-to-income has reached its highest number ever at 30%. This means that out of a normal US citizen's income, 30% of it will go directly to rent.
- @JunkScience - Antarctic sea ice extent at 'mind-blowing low'? Nope. - 2023 max extent: 17,600,000 sq. km. - 1966 max extent: 15,900,000 sq. km. - 2023 extent about the same as 1986. 1966 and 1986 were much of CO2 ago.
- @TheFP - America is already beholden to China for antibiotics, lithium batteries, and 5G equipment. Now they are cornering the market on an important technology used in self-driving vehicles.
- @backtolife_2023 - The clean energy ‘scam’ is unravelling ‘very quickly’: Cory Bernardi Source: Sky News Australia. (video)
- @TheGreatSifting - The pathway to instant slavery as an indentured servant is when you accept digital currency. (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 985,418 Reports(+1,625 from prior week) Through September 8th, 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 lower, weighed down by technology and consumer 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 -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 122.75 +5.0 basis points.
- China Sovereign CDS 74.0 +4.0 basis points.
- China Iron Ore Spot 121.50 USD/Metric Tonne +1.1%.
- Bloomberg Emerging Markets Currency Index 42.2 unch.
- Bloomberg Global Risk-On/Risk Off Index 74.8 +1.4%.
- Bloomberg US Financial Conditions Index 41.0 -6.0 basis points.
- Volatility Index(VIX) futures 15.6 -.2%.
- Euro Stoxx 50 futures +.05%.
- S&P 500 futures -.02%.
- NASDAQ 100 futures -.08%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and consumer 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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