Evening Headlines
Bloomberg:
- Ray Dalio Says US-China Relations Are on the ‘Brink of Red Lines'.
- Hong Kong Banks Struggle to Sell Foreclosed Homes Even at 20% Discount.
- Dollar, China Imperil Asia Stocks’ Stellar Fourth-Quarter Record.
- Yen Surges From Weakest Level in a Year Amid Intervention Talk.
- Asia Stocks Under Pressure as Wall Street Slides: Markets Wrap.
- Oil Steadies Ahead of OPEC+ Review and US Stockpiles Update.
- McCarthy Ouster Means More Turmoil as Next Shutdown Fight Looms.
- Here Are the Republicans in the Mix to Replace Kevin McCarthy.
- Short Fast Food Credit Because of Ozempic, Barclays Says.
- Ford Sweetens Wage Offer in Proposal to Striking UAW Workers.
- Credit Markets Wobble as Fed Speak, Data Fan Rate-Hike Angst.
- Investors Find Little Reason to Buy Stocks as Rates Fears Spread.
- Panic Creeps Up as VIX Curves Invert for First Time Since March.
Zero Hedge:
- McCarthy Won't Seek Speaker Position In Re-Vote; Trump Nominated By Nehls
- "We're In The Middle Of A Revolution" - Victor Davis Hanson Warns Tucker: "The Next 12 Months Will Be The Most Explosive In History"
- Goldman Finally Admits The US Fiscal Horror, Warns Of Explosive Increase In Government Interest Costs
- IRS Hits MyPillow With Five Audits: Mike Lindell.
- Trump Campaign Asks RNC To Cancel All Future Debates.
- Mexico President Blasts US Billions To Ukraine As "Irrational" - Says Focus On Latin America.
- NY Judge Issues Gag Order After Trump Targets Clerk.
- Fatal NYC Stabbing Of Social-Justice Activist Caught On CCTV.
- Bankman-Fried Shows Up For Jury Selection Leaner And With A Haircut.
- Copper's Price Curve Hasn't Looked Like This In Decades.
- US stocks and bonds were sold after a spike in job openings - Newsquawk Asia-Pac Market Open.
- Ford, GM Layoff Another 500 Workers As Strikes Ripple Across Heartland.
- The Geopolitical Forces Driving Today's Oil Market.
- India Orders 41 Canadian Diplomats Expelled In Latest Escalation.
- The 5 Stages Of America.
- WTI Holds Gains After API Reports Surprise Crude Draw, Cushing Build.
- Stocks and bonds tumble after surge in job openings precedes suspected Yen intervention - Newsquawk US Market Wrap.
- Goldman, JPMorgan Pull The Alarm: As Yields Soar "Risks Are Growing Of A Sharp, Impulsive, Negative Feedback Loop... There Will Be A Financial Accident".
- Please Stop Telling Us Everything Is Fine With The Economy; It Is Not.
- Juicy Jobs Data Slams Stocks, Sparks Bond Bloodbath & VIXplosion.
- Amazon Used Secret Algorithm to Raise Prices.
- Patrick McHenry of North Carolina Is Speaker Pro Tem.
- Republican leader falls after removal effort by party dissidents.
- Dow’s 2023 Gains Wiped Out as Bond Yields Rise.
- Ecuador Was a Retirement Paradise for Americans. Then the Drug Gangs Arrived.
- Tougher Return-to-Office Rules Aren’t Filling Buildings.
- Netflix Plans to Raise Prices After Actors Strike Ends.
- Americans’ Growing Reluctance to Quit Jobs.
- Wall Street Thinks America’s Homes Are Overvalued.
CNBC.com:
- Popular 30-year mortgage rate races toward 8% after hitting a high not seen since late 2000.
- Bond yields could race through 5% in next couple of weeks, Jim Bianco warns.
- Novavax updated Covid vaccine wins FDA, CDC backing, paving way to reach Americans within days.
- Bill Gross says the 10-year Treasury yield could test 5% in the short term.
- United Airlines buys 110 additional Boeing, Airbus jets with delivery slots scarce.
- Something is breaking in financial markets — Here’s what’s behind the sell-off.
- How Treasury market upheaval is rippling through global markets, in 4 charts.
- Banks are bracing for a recession as Treasury yields surge.
- U.S. dollar hits strongest level in nearly a year, heaping more pressure on stocks.
- Intel to spin off programmable solutions business in IPO over next few years.
- ‘Just like in 1987.’ Here’s what could deliver a ‘devastating blow’ to stocks, says SocGen strategist Albert Edwards.
- Supreme Court case on CFPB funding could have wider ramifications for mortgage borrowers.
Newsmax:
- “I Think This Represents the Ripping Off of the Bandaid – To Get Back on Track” – Rep. Matt Gaetz Delivers Remarks Following Kevin McCarthy’s Removal as House Speaker (VIDEO).
- Lesbian Marxist Laphonza Butler of Maryland Sworn in to Replace Feinstein as California’s Newest Senator (VIDEO).
- BREAKING UPDATE: Kevin McCarthy REMOVED as Speaker of the House…. Here Are the Republicans Who Voted to Oust McCarthy
- BREAKING: Far-Left NY Judge Engoron Issues Gag Order in Trump Fraud Trial.
- UPDATE: Disturbing Video Released Showing the Tragic Fatal Stabbing of Leftist Activist Ryan Carson on NYC Street, Girlfriend Witnessed the Horror.
- Karine Jean-Pierre Blames Republicans After Democrat Congressman Carjacked in Democrat-Run DC (VIDEO).
- General Mike Flynn Warns 2024 May Be the Last Election We Have As a Republic.
- Tucker Carlson’s Story About the Russian Revolution Is Terrifying – Are We Living in a Similar Time?
- Democrat Rep. Henry Cuellar, Victim of Recent Carjacking, Previously Voted for Measures to Make it Easier to Defund Police – He Also Supported the George Floyd Justice in Policing Act.
- Pentagon Official Exposed: Department of Defense Deputy Chief Arrested for Running Dogfighting Ring for Over 20 Years.
- Here We Go: Marc Elias and National Democrats Sue Wisconsin to Block Absentee Voter Witness Requirements – Anything to Steal an Election!
The Epoch Times:
- Communist China's Orwellian 'Global Community With a Shared Future'.
- US Treasury Issues Sanctions Targeting China-Backed Fentanyl Entities, Individuals.
- CCP Threat in the Digital Space.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 986,103 Reports(+2,130 from prior week) Through September 15th, 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 modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 130.0 +2.25 basis points
- China Sovereign CDS 87.75 +3.25 basis points.
- China Iron Ore Spot 115.6 USD/Metric Tonne -.96%.
- Bloomberg Emerging Markets Currency Index 41.2 -.03%
- Bloomberg Global Risk-On/Risk Off Index 71.5 -.01%.
- Bloomberg US Financial Conditions Index -.08 -4.0 basis points.
- Volatility Index(VIX) futures 19.7 -.5%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.02%.
- NASDAQ 100 futures +.04%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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