Daily Briefing – August 11, 2020

Daily Briefing – August 11, 2020 Tyler Durden Tue, 08/11/2020 – 17:55 Senior editor, Ash Bennington, joins Tyler Neville to discuss secular stagnation and the financial chicanery happening in markets. With stocks rising above global GDP, Ash and Tyler consider how the increase in bond issuance has been electric all while yields aren’t rising. Tyler also argues how people look at markets through a political lens, but not a demographic lens, and how demographics can further shape an investor’s understanding of what’s occurring. They also talk about the DXY in juxtaposition with the federal deficit, the relationship between spot gold[…]

Read more

Surging Gun Sales Triggers Second Ammo Shortage Of This Year

Surging Gun Sales Triggers Second Ammo Shortage Of This Year Tyler Durden Tue, 08/11/2020 – 17:45 The virus pandemic triggered a socio-economic bomb across major US metro areas resulting in one of the largest panic hoardings of guns and ammo by fearful consumers in quite some time, if not ever. Gregory Ionadi, 75, the owner of gun shop Smoke N’ Guns, located in Oakmont, Pennsylvania, told PJ Media:  “Prior to the COVID outbreak, President Obama was the best gun salesman we ever had,” said Ionadi. “Anytime he was going to ban this, ban that, there was a rush on gun sales. When President Trump was[…]

Read more

Stocks Don’t Only Go Up

The US equity market has recovered faster and more vigorously than anyone could have anticipated. Many investors missed out on the most significant portion of the extraordinary tech-driven rally in the US. Fear had gripped the retail investing market at the trough of this medically-induced economic recession. After a few months of unprecedented stock returns, everyone and their cousin is jumping into the markets seemingly blindfolded. Many retail investors have a strong case of FOMO, and they may be looking in the wrong places for returns. The outrageous surge we saw in the tech sector was mostly justified because of[…]

Read more

Liquidation: Stocks, Bonds, Bullion, & Bitcoin All Puked

Liquidation: Stocks, Bonds, Bullion, & Bitcoin All Puked Tyler Durden Tue, 08/11/2020 – 16:01 Well that really did escalate quickly… Today had the feeling of ‘liquidation’ (similar to March) as big-tech stocks (growth/value rotation), bitcoin, bonds, and bullion were all dumped unceremoniously. While Nasdaq futs were bid along with everything else on Putin’s vaccine headlines overnight, it didn’t take long for the growth/value rotation pressure to kick in and send them lower as small caps (financial/energy dominant) surged… but late on things rolled over as the liquidations spread and the rest of the market tumbled lower on ‘stalled stimulus’ talks…[…]

Read more

Biden Picks VP, But Campaign Delays Announcement As Harris Surges In Betting Markets

Biden Picks VP, But Campaign Delays Announcement As Harris Surges In Betting Markets Tyler Durden Tue, 08/11/2020 – 15:57 Update (1555ET): CNN just confirmed that Biden has called Karen Bass to tell her she won’t be the pick. So that’s one down. * * * Update (1550ET): Things are changing fast heading into Tuesday evening on the East Coast, and for whatever reason, Kamala Harris has suddenly surged into first place on PredictIt’s online gambling market. Is it possible that somebody in the know is frontrunning the announcement? It’s possible, but then again, we couldn’t say for sure, and it’s[…]

Read more

Far-Left Democrat Rep. Pramila Jayapal Brags About Manipulating Joe Biden

Far-Left Democrat Rep. Pramila Jayapal Brags About Manipulating Joe Biden Tyler Durden Tue, 08/11/2020 – 15:50 Far-left Rep. Pramila Jayapal (D-WA) told Comedy Central‘s Trevor Noah on Monday that Joe Biden is essentially a puppet who can be easily manipulated. “I will be pushing him, as soon as we get him in the White House and even before, with these task forces that we had” Japayal said, adding “we were able to significantly push Joe Biden to do things that he hadn’t signed on to before. So he is moveable, he is listening.” Watch: Radical Rep. Jayapal boasts she was[…]

Read more

‘The Program’ – Kill The Algos… Before They Kill Us

‘The Program’ – Kill The Algos… Before They Kill Us Tyler Durden Tue, 08/11/2020 – 15:35 Authored by Sven Henrich via NorthmanTrader.com, Kill the algos before they kill us. If you haven’t noticed, there’s a specific program running through markets this August, it’s not humans making collective price decisions, it’s algos playing ping pong with price in a specific fashion, I call it the gap, ramp and camp program. First note that at this stage there are no more down days, all 2 way price discovery has ended. While this has happened plenty of times before, especially in summer months,[…]

Read more

Big 10 Becomes First ‘Power Five’ Conference To Delay Football Season

Big 10 Becomes First ‘Power Five’ Conference To Delay Football Season Tyler Durden Tue, 08/11/2020 – 15:31 Update (1525ET): After flip-flopping in the face of public opposition, the “Big Ten” on Tuesday has officially decided to postpone its football season until at least the spring semester, making the league the first of the NCAA’s marquee “Big 5” conferences to implement such a plan. It follows UConn’s decision to scrap its 2020 season entirely due to issues with traveling caused by the tri-state quarantine. Here’s more from the NYT: The decision, after weeks of announcements from smaller conferences and some individual schools that[…]

Read more

Why The Gold & Bitcoin Surge Is Just Starting: “Real Yields Will Be Negative Until The Financial System Collapses”

Why The Gold & Bitcoin Surge Is Just Starting: “Real Yields Will Be Negative Until The Financial System Collapses” Tyler Durden Tue, 08/11/2020 – 12:45 By Mark Cudmore, former Lehman FX trader and currently macro strategist at Bloomberg Markets Live The Gold and Bitcoin Bull Run Is Just Beginning A long-term trend of investor demand for stores of value has only just begun, with policy doors now open that won’t be easily closed again. That’s a huge mark in favor of gold and Bitcoin. Something changed this year. After sparking years of heated debates on the sidelines, the once-seen-as-preposterous concept of Modern[…]

Read more

Mortgage Mayhem Begins: Overall Delinquency Rates Soar As Housing Crisis Lurks 

Mortgage Mayhem Begins: Overall Delinquency Rates Soar As Housing Crisis Lurks  Tyler Durden Tue, 08/11/2020 – 12:32 Readers may recall as early as April we outlined how mortgage lenders were preparing for the most significant wave of delinquencies in history as tens of millions of people lost their jobs because of the virus-induced recession. Mortgage lending standards have since tightened as mass foreclosures and mortgage market mayhem appears to be ahead. The Trump administration has found creative ways to prevent the foreclosure wave during the election year – which has placed millions of homeowners in forbearance programs to shift the mortgage crisis until after November.  Property[…]

Read more