Author: Tyler Durden

Yuan Surges On Speculation China’s Covid Lockdowns Will End Soon Three weeks ago, when looking at the pattern in China’s covid data, we said that China’s covid panic is almost over… China’s covid panic is almost over pic.twitter.com/H4jOSqXApM — zerohedge (@zerohedge) April 29, 2022 … a view we repeated a week ago when we warned…

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Over 120,000 Hunter Biden Emails Uploaded To Searchable Database A former Trump White House staffer has uploaded more than 120,000 emails found on Hunter Biden’s abandoned laptop to a searchable database this week, which can be found at the (slowly loading) website: BidenLaptopEmails.com. In addition to searching, visitors can download the emails as well. Set…

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Biden Will Ease Sanctions On Venezuela’s Maduro Amid Scramble For Alternative Oil The Biden administration will ease sanctions on Venezuela and its strongman President Nicolás Maduro, senior admin officials have told several media outlets, in yet another reversal of a key Trump policy. The Miami Herald is reporting that in exchange for a softening of sanctions,…

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A Drinking Man’s Guide To Monetary Policy Authored by Gary Galles via The American Institute for Economic Research, There is an old expression—to drive someone to drink—which means to annoy them to distraction. My favorite version of it is George Thorogood and the Destroyers’, “Son, you’re gonna drive me to drinkin’ if you don’t stop drivin’…

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US Set To Block Russian Debt Payments, Pushing Moscow Closer To Historic Default The latest attempt at inflicting maximum punishment and pressure on Russia amid its grinding war in Ukraine has many scratching their heads, as the US is now set to block Moscow’s ability to pay its sovereign debt – though ironically which Russia appears…

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Nowhere To Hide Authored by James Rickards via DailyReckoning.com, Investors don’t need to be told about the recent stock market crashes. The Dow Jones index is down 12.5% since early January. The S&P 500 is down 16.1% in the same period. The Nasdaq Composite is down an even more spectacular 26.5% this year. It lost…

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Mood On Wall Street Has Never Been More Apocalyptic; Tech Short Is Biggest Since 2006 One month after the April Fund Manager Survey was downright “apocalyptic” with the majority seeing a bear market and stagflation – yet nobody rushing to sell – and with optimism plunging to levels right before Lehman, today Bank of America…

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WTI Rebounds After Big Surprise Crude & Gasoline Draws Oil prices slipped lower today after the Biden admin announced it plans to allow Chevron  to negotiate its oil license with Venezuela’s national producer and legged down further on growth scares as Fed Chair Powell said he won’t hesitate to raise rates above neutral if needed….

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Voters Head To Polls In Pennsylvania To Decide Hotly-Contested Senate & Gubernatorial Primaries Authored by Jeff Louderback via The Epoch Times, The polls opened on May 17 for the closely-watched primary elections for the U.S. Senate and the governor’s seat in Pennsylvania. Pennsylvania Republican U.S. Senate candidate Dr. Mehmet Oz joins former President Donald Trump onstage…

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JPMorgan Sees Gas Prices Hitting $6.20 By August Moments ago we reported that for the first time in US history, gasoline in every single state is above $4/gallon, while the national average US retail gasoline price just topped $4.50 a gallon today, also for the first time. That’s up about 50 cents from a month…

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“The Real President Is Whoever Controls The Teleprompter”: Musk Delivers Scathing Criticism Of Biden Authored by Jack Phillips via The Epoch Times, Tech billionaire Elon Musk this week warned that the United States must take steps to address inflation or it will end up like socialist Venezuela. Musk, who is currently in the process of acquiring Twitter,…

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Gas Prices Hit $4 A Gallon In Every State For First Time  Gas prices at the pump hit $4 a gallon in every state for the first time Monday, according to the American Automobile Association (AAA). This is mainly due to languishing refinery capacity across the US, dwindling fuel stockpiles, and robust demand for gas ahead of…

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Stocks, Bonds, & Bitcoin Puke As Powell Speaks Fed Chair Powell reiterated a number of his previous comments, offering little for the marginal bull or bear: Powell says nothing new and algos still dump. That’s the new regime — zerohedge (@zerohedge) May 17, 2022 But here are some of the highlights (Source: Bloomberg) POWELL: WON’T…

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As May Expiration Looms, Options Skew Crashes To Its Lowest Since Powell Flip-Flop In Late 2018 Surging interest rates (and hawkish-er FedSpeak) and soaring geopolitical risk concerns have not been good to US equity markets over the past month with stocks puking at their fastest pace in years (though as we noted previously, not seeing…

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Allianz Unit Criminally Charged, Will Pay Billions Over $7 Billion Hedge Fund Blow Up; CIO Arrested The last time we checked in on the remarkable story of Allianz’ imploded hedge funds in mid-February, we learned that the insurance giant would take a €3.7 billion ($4.2 billion) charge against the event which was not supposed to…

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New Black Box Data Of China Eastern Jet Points To Intentional Nosedive Boeing shares are higher after WSJ reports the China Eastern 737-800 jet that crashed in southern China in March was intentional.  People familiar with the matter said the plane was cruising at a high altitude when it unexpectedly spiraled into a nosedive and slammed into…

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Sri Lanka Has Only 1 Day Of Petrol Stocks Left, Says New Prime Minister Authored by Aldgra Fredly via The Epoch Times, Sri Lanka has only enough petrol for one day and urgently needs $75 million in foreign exchange to pay for essential imports within the next couple of days, the country’s new prime minister said…

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‘Stablecoin’ Tether Supply Plunged $7.4B Amid Depegging Scare, Terra Carnage Amid the chaotic events surrounding last week’s collapse in LUNA and UST… …the market cap of Tether (USDT) – the largest stablecoin – plunged more than $7 billion. As The FT reports, Tether’s market value has fallen by 9% since May 12 to $76bn as…

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NATO Pledges Open-Ended Military Support For Ukraine Ahead Of US Senate $40BN Aid Vote Authored by Dave DeCamp via AntiWar.com, At the start of this week NATO pledged open-ended military support for Ukraine as member states continue to say they are prepared to back Kyiv in its war against Russia for the long term. At a meeting…

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Before Archegos Imploded On A Doomed Short Squeeze Attempt, Hwang Lost Billions When A Short Went Terribly Wrong The Archegos soap opera, which confirmed that the market is a cesspool of constant manipulation and where the only sin is getting caught, simply refuses to go away. Three weeks after latest stunning development in what may…

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