APRIL 27//GOLD CLOSED DOWN ONLY $2.60 TO $1779.00 DESPITE THIS BEING COMEX OPTIONS EXPIRY//SILVER CLOSED UP 20 CENTS TO $26.35//GOLD TONNAGE STANDING AT THE COMEX ADVANCES TO 95.20//SILVER OZ STANDING ADVANCES TO 14.945 MILLION OZ//MAY OPEN INTEREST FOR THE SILVER CONTRACTS DROPS CONSIDERABLY AS THERE MUST HAVE BEEN A PAY OFF NOT TO TAKE DELIVERY//CORONAVIRUS UPDATES//VACCINE UPDATES//MOSCOW AND KIEV UNDERGO A TIT FOR TAT DIPLOMAT EXPULSIONS//INFLATION WATCH: AGRICULTURE (CORN) AND HOUSING//ARCHEGOS UPDATES TWO COMMENTARIES//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1779.00   DOWN $2.60   The quote is London spot price

Silver:$26.35 UP  $0.20   London spot price ( cash market)

your data.

 
 
 

Closing access prices:  London spot

i)Gold : $1777.00 LONDON SPOT  4:30 pm

ii)SILVER:  $26.25//LONDON SPOT  4:30 pm

OPTIONS EXIRY WEEK:

COMEX OPTIONS ON GOLD/SILVER EXPIRE TUESDAY APRIL 27

OTC OPTIONS EXPIRE 11 AM APRIL 30//FIRST DAY NOTICE APRIL 30//

GOLD/SILVER WILL BE DEPRESSED UNTIL CLOSING APRIL 30//

ALL COMMODITIES ARE ON FIRE EXCEPT TWO: GOLD AND SILVER, I WONDER WHY?

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Brad lives in California…..  He was sick of the world, of Covid-19, Trump, Biden, Russian belligerence, China, global warming, racial tensions, and the rest of the disturbing stories that occupy media headlines.

 

Brad drove his car into his garage and then sealed every doorway and window as best he could.
 
He got back into his car and wound down all the windows, selected his favorite radio station, started the car and revved it to a slow idle.  

 

Two days later, a worried neighbor peered through his garage window and saw him in the car.  She notified the emergency services and they broke in, pulling Brad from the car. 

A little sip of water and, surprisingly, he was in perfect condition, but his Tesla had a dead battery. 

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PLATINUM AND PALLADIUM PRICES BY GOLD-EAGLE (MORE ACCURATE)

 

 

PLATINIUM  $1231.83 down $14.33

PALLADIUM: 2944.77 up $16.88  PER OZ

 

James McShirley on the pricing of gold eagles/and silver eagle

James Mc late this afternoon…april 15/

If gold and silver are so dull and boring like the Crimex trading implies, and like the MSM narrative goes, then why haven’t the physical coin premiums backed off one iota for nearly a year? Gold Eagles are still +$160 and up to spot, Silver Eagles are anywhere from $10-15 over spot. Does this sound like lackluster demand? Even the narrative about coins being different than bulk physical doesn’t add up. With commodity shortages affecting virtually everything on the planet it makes no sense that silver would miraculously be plentiful and cheap. Solar panels are going crazy, industrial demand is bonkers, and mega- wealthy people still view gold and silver as wealth.

Jim McShirley

Editorial of The New York Sun | February 1, 2021

end

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COMEX DATA

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

receiving today  621/1827

EXCHANGE: COMEX
CONTRACT: APRIL 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,779.200000000 USD
INTENT DATE: 04/26/2021 DELIVERY DATE: 04/28/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 H GOLDMAN 53
332 H STANDARD CHARTE 778
435 H SCOTIA CAPITAL 44
624 H BOFA SECURITIES 321
657 C MORGAN STANLEY 18 3
661 C JP MORGAN 1809 621
686 C STONEX FINANCIA 3
737 C ADVANTAGE 1
880 H CITIGROUP 3
____________________________________________________________________________________________

TOTAL: 1,827 1,827
MONTH TO DATE: 29,819

 

ISSUED: 1809

Goldman Sachs:  stopped: 53

 
 

NUMBER OF NOTICES FILED TODAY FOR  APRIL. CONTRACT: 1827 NOTICE(S) FOR 182,700 OZ  (5.6827 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  29,819 NOTICES FOR 2,981,900 OZ  (92.799 tonnes) 

SILVER//APRIL CONTRACT

 

14 NOTICE(S) FILED TODAY FOR 70,000  OZ/

total number of notices filed so far this month: 2961 for 14,805,000  oz

 

BITCOIN MORNING QUOTE  $54,881   UP 1072

BITCOIN AFTERNOON QUOTE.:$54,881 UP 1072 DOLLARS  

 

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GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $2.60 AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINER CLOSED//MEXICO ORDERING ALL MINES SHUT:   WHERE ARE THEY GETTING THE “PHYSICAL?

NO CHANGES IN GOLD INVENTORY AT THE GLD//:  A PAPER  DEPOSIT OF 0.00 TONNES OF PAPER GOLD FROM GLD

WITH RESPECT TO GLD WITHDRAWALS:  (OVER THE PAST FEW MONTHS)

GOLD IS “RETURNED” TO THE BANK OF ENGLAND WHO ARE CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE B OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE

THIS IS A MASSIVE FRAUD!!

GLD: 1,021.70 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 20 CENTS

NO CHANGES IN SILVER INVENTORY AT THE SLV// 

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

THE SILVER WITHDRAWALS ARE ACTUALLY “RETURNED” TO JPM, AS JPMORGAN CALLS IN ITS LEASES WITH THE SLV FUND.  (THE STORY IS THE SAME AS THE BANK OF ENGLAND’S GOLD). THE SILVER NEVER LEAVES JPMORGAN’S VAULTS. THEY ARE CALLING IN THEIR LEASES FOR FEAR OF SOLVENCY ISSUES.

INVENTORY RESTS AT:

568.687  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 166.42 down $0.42 OR  0.25%

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SLV closing price NYSE 24.37 up $0.07 OR 0.29%

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Let us have a look at the data for today

THE COMEX OI IN SILVER FELL BY A TINY SIZED 75 CONTRACTS FROM 172,951 UP TO 172,876, AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE GAIN IN OI OCCURRED WITH OUR $0.10 GAIN IN SILVER PRICING AT THE COMEX  ON MONDAY. IT SEEMS THAT THE  GAIN IN COMEX OI IS PRIMARILY DUE TO SMALL  SPREADER LIQUIDATION  AS WELL AS SOME BANKER AND ALGO  SHORT COVERING !//GOOD REDDIT RAPTOR BUYING//.. COUPLED AGAINST A TINY EXCHANGE FOR PHYSICAL ISSUANCE. WE ALSO  HAD ZERO LONG LIQUIDATION AS THE NET TOTAL GAIN ON OUR TWO EXCHANGES:  20 OR 0.100 MILLION OZ.

 

WE WERE  NOTIFIED  THAT WE HAD A TINY  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 95,, AS WE HAD THE FOLLOWING ISSUANCE: MAY:  95, JULY 0 AND ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 95 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON)AS THEY ARE NOW BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO SERVICE THESE SERIAL FORWARDS IS HIGH TO OUR BANKERS  BUT THEY HAVE NO CHOICE BUT TO ISSUE A FEW OF THEM! SILVER IS IN BACKWARDATION AND AS SUCH THE DANGER TO OUR BANKERS IS LONDONERS WILL PURCHASE CHEAPER FUTURES METAL OVER HERE AND THEN TAKE DELIVERY.

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 33 MONTHS.

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION  OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV:  A HUGE 7.440 MILLION OZ STANDING  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

22.605 MILLION OZ  STANDING FOR JULY

10.025   MILLION OZ INITIAL STANDING IN AUGUST.

43.030   MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32     MILLION OZ INITIALLY STANDING IN OCT

2.630     MILLION OZ STANDING FOR NOV.

20.970   MILLION OZ  FINAL STANDING IN DEC

2020

5.075     MILLION OZ FINAL STANDING IN JAN

1.480    MILLION OZ FINAL STANDING IN FEB

23.005  MILLION OZ FINAL STANDING FOR MAR 

4.660  MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY***(5THHIGHEST RECORDED STANDING FOR SILVER)

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470MILLION OZ FINAL STANDING IN JULY…RECORD HIGHEST EVER RECORDED

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400MILLION OZ FINAL STANDING IN SEPT (3RD HIGHEST RECORDED STANDING)

8.900 MILLION OZ INITIALLY STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.685 MILLION OZ FINAL STANDING FOR DEC. (4TH HIGHEST RECORDED STANDING)

2021

6.890 MILLION FINAL STANDING FOR JAN 2021

12.020  MILLION OZ FINAL STANDING FOR FEB 2021

58.425 MILLION OZ FINAL STANDING FOR MARCH 2021//2ND HIGHEST EVER RECORDED

14.905 MILLION OZ INITIAL STANDING FOR APRIL

MONDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERE
UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT ROSE BY $0.10). OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS  WE HAD A TINY SIZED GAIN OF 20 CONTRACTS ON OUR TWO EXCHANGES, THE GAIN WAS PRIMARILY  DUE TO i)  MINOR SPREADER LIQUIDATION AS WELL AS ii) SOME BANKER/ALGO SHORT COVERING// WE ALSO HAD  iii) GOOD REDDIT RAPTOR BUYING//.    iv)  A FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A SMALL INCREASE IN SILVER STANDING FOR COMEX SILVER  ADVANCING TO 14.945 MILLION OZ, v) TINY COMEX OI GAIN //.YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

SPREADING OPERATIONS/NOW SWITCHING TO SILVER  (WE SWITCH OVER TO SILVER ON APRIL  1)

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN SILVER  AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF MAY.

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

 
 

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO SILVER AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF APRIL. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF MAY FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF APRIL. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (MAY), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

 

APRIL

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY /FOR MONTH OF MAR:

14,449 CONTRACTS (FOR 19 TRADING DAY(S) TOTAL 14,449 CONTRACTS) OR 72.245 MILLION OZ: (AVERAGE PER DAY: 760 CONTRACTS OR 3.80 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF APRIL: 72.245 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON

JAN EFP ACCUMULATION FINAL:  113.735 MILLION OZ

FEB EFP ACCUMULATION FINAL:   208.18 MILLION OZ (RAPIDLY INCREASING AGAIN)

MAR EFP ACCUMULATION SO FAR: : 103.450 MILLION OZ  (DRAMATICALLY SLOWING DOWN AGAIN//FEARS OF EFP CONTRACTS BEING EXERCISED FOR METAL)

APRIL: 72.245 MILLION OZ  (SILVER IS NOW IN SEVERE BACKWARDATION AND THUS DRAMATICALLY FEWER ISSUANCE OF EFP’S)

 

RESULT: WE HAD A SMALL  DECREASE COMEX OI SILVER COMEX CONTRACTS OF 75, WITH OUR $0.10 GAIN IN SILVER PRICING AT THE COMEX ///MONDAY .THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE OF 447 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A TINY SIZED GAIN OF 20 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR  $0.10 GAIN IN PRICE)//THE DOMINANT FEATURE TODAY WAS THE SMALL SPREADER LIQUIDATION ON OUR RAID ATTEMPT// SOME BANKER SHORTCOVERING AND OUR MONTH OF MAY’S OPEN INTEREST REFUSING TO BUCKLE MUCH TO FUTURE MONTHS. THE BANKERS SEE THE TEA LEAVES FORMING AND THEY ARE GETTING OUT OF DODGE IN A BIG WAY…TOO MANY LONGS (AND OUR WHALE) STANDING FOR DELIVERY…

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  95 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A SMALL SIZED DECREASE OF 75 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.10 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.15//MONDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

FOR THE NEW APRIL.  DELIVERY MONTH/ THEY FILED AT THE COMEX: 14 NOTICE(S) FOR  70,000, OZ OF SILVER.

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

AND YET, WITH THE SILVER IN BACKWARDATION (INDICATING SCARCITY), WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT)

 
 
 
 

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 2271 CONTRACTS TO 474,325,AND FURTHER FROM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED DECREASE IN COMEX OI CAME DESPITE OUR  LOSS IN PRICE  OF $1.80///COMEX GOLD TRADING//MONDAY.AS IN SILVER WE MUST HAVE HAD CONSIDERABLE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR GOOD SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD ZERO LONG LIQUIDATION AS WE HAD A GOOD GAIN OF 2104 TOTAL CONTRACTS ON OUR TWO EXCHANGES.  WE ALSO HAD A HUGE GAIN IN GOLD TONNAGE STANDING RISING TO 95.200 TONNES, AS 297 CONTRACTS (OUR ILLUSTRIOUS BANKERS) QUEUE JUMPED AHEAD OF THE LINE LOOKING FOR GOLD METAL.  (29700 OZ OR 0.9237 TONNES)

 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $1.80 WITH RESPECT TO MONDAY’S TRADING

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  0//

WE HAD A GOOD GAIN OF 2104 OI CONTRACTS (6.544 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 4375 CONTRACTS:

CONTRACT .  APRIL:  0 AND JUNE:  4375  ALL OTHER MONTHS ZERO//TOTAL: 4375.  The NEW COMEX OI for the gold complex rests at 474,325. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2104 CONTRACTS: 2271 CONTRACTS INCREASED AT THE COMEX AND 4375 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 2104 CONTRACTS OR 6.544 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4514) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (2271 OI): TOTAL GAIN IN THE TWO EXCHANGES:  4514 CONTRACTS. WE NO DOUBT HAD 1 HUGE BANKER SHORT COVERING AS OUR BANKERS ARE RUNNING FROM DODGE AND CONSIDERABLE ALGO SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOLLOWED BY A STRONG GAIN TODAY FOR THE FRONT APRIL MONTH ON DAY 19 OF THE DELIVERY CYCLE TO   95.200 TONNES)  3) ZERO LONG LIQUIDATION,  /// ;4) SMALL COMEX OI GAIN AND 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL AND ….ALL OF THIS HAPPENED WITH OUR LOSS IN GOLD PRICE TRADING MONDAY//$1.80!!.

 

 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

APRIL

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 44,111, CONTRACTS OR 4,411,100 oz OR 137.20 TONNES (19 TRADING DAY(S) AND THUS AVERAGING: 2201 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAY(S) IN  TONNES: 137.20 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2020, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 137.20/3550 x 100% TONNES =3.86% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE:
JANUARY: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
 
FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..
 
 
MARCH:.   276.50 TONNES (STRONG AGAIN///IT SURPASSED JANUARY!!)

 

APRIL:      137.20 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

 

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER, FELL BY A TINY SIZED 75 CONTRACTS FROM 172,951 DOWN TO 172,876 AND FURTHER FORM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE TINY SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO 1) MINOR SPREADER LIQUIDATION FOLLOWED BY; 2) SOME BANKER SHORT COVERING//ALGO SHORT COVERING// GOOD REDDIT// RAPTOR BUYING , 3) A TINY ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A TINY INCREASE IN  STANDING FOR SILVER  AT THE COMEX FOR APRIL ADVANCING TO 14.945 MILLION OZ//., AND 4) ZERO LONG LIQUIDATION.

EFP ISSUANCE 95 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 MARCH:  0 ; MAY: 95 AND, JULY: 0ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 95 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 75 CONTRACTS AND ADD TO THE 95 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN AN TINY SIZED GAIN OF 20 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.100 MILLION  OZ, OCCURRED WITH OUR $0.10 GAIN IN PRICE///

 

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL..THE EVIDENCE IS CLEAR: HUGE AMOUNTS OF PHYSICAL STANDING FOR BOTH  SILVER AND GOLD .

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge + OTHER COMMENTARIES

3. ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 1.45 PTS OR 0.04%   //Hang Sang CLOSED DOWN 11.29 PTS OR 0.04%     /The Nikkei closed DOWN 134.34 POINTS OR 0.46%//Australia’s all ordinaires CLOSED DOWN 0.17%

/Chinese yuan (ONSHORE) closed UP AT 6.4833 /Oil DOWN TO 61.15 dollars per barrel for WTI and 65.12 for Brent. Stocks in Europe OPENED ALL RED  //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4833. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4800   : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 
 
 
 
 

3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

CHINA VS USA//

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 2271 CONTRACTS TO 474,325 MOVING CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS SMALL COMEX DECREASE OCCURRED DESPITE OUR  LOSS OF $1.80 IN GOLD PRICING MONDAY’S COMEX TRADING…WE ALSO HAD A GOOD EFP ISSUANCE (4375 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH.  

WE HAVE ALSO  LATELY WITNESSED  EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS.

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT   0

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL..  THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4375 EFP CONTRACTS WERE ISSUED:  ;  AND APRIL:  0, JUNE:  4375 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4375  CONTRACTS .(DESPITE THE STRONG BACKWARDATION IN GOLD FOR JUNE/APRIL VS SPOT)

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED 2104  TOTAL CONTRACTS IN THAT 4375 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED  COMEX OI  OF 2271 CONTRACTS.WE HAVE A HUGE AMOUNT OF GOLD TONNAGE STANDING FOR APRIL  (95.200 TONNES) WHICH FOLLOWS MARCH:  (30.205 TONNES) WHICH FOLLOWED FEB (113.424 TONNES)  WHICH FOLLOWED OUR STRONG LEVEL OF JAN 2021 GOLD . ((6.500 TONNES).  

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $1.80)., AND  WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A GOOD NET GAIN ON OUR TWO EXCHANGES OF 4514 CONTRACTS.  THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 14.045 TONNES TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR APRIL (95.200 TONNES)..I  STRONGLY BELIEVE THAT 0UR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE SMALL GAIN IN COMEX OI IS DUE TO BANKER SHORT COVERING IN A BIG WAY.  THEY ARE LOOKING OVER THEIR SHOULDERS AND WITNESSING MASSIVE SILVER/GOLD SHORTAGES THAT CANNOT BE COVERED. THEY ARE TRYING TO FLEE IN HASTE “FROM DODGE”. 

NET GAIN ON THE TWO EXCHANGES :: 4514 CONTRACTS OR  451400 OZ OR  14.045  TONNES

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION.  IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCT.
 
THUS IN GOLD WE HAVE THE FOLLOWING:  474,325 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 47.43 MILLION OZ/32,150 OZ PER TONNE =  1475 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1475/2200 OR 67.05% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 
 

Trading Volumes on the COMEX GOLD TODAY:79,195 contracts// volume /DREADFUL /EXTREMELY TERRIBLE   //

CONFIRMED COMEX VOL. FOR YESTERDAY:  151,595 contracts//  volume:   extremely poor/ hopeless!/ //most of our traders have left for London

 

APRIL 27 /2021

 
INITIAL STANDINGS FOR APRIL COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
 
 
202.56 OZ
MANFRA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz

end

 

.

 

Deposits to the Customer Inventory, in oz
 
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
1827  notice(s)
182,700 OZ
(5.6827 TONNES
 
No of oz to be served (notices)
788 contracts
(78,800oz)
 
2.4510 TONNES
 
 
 
Total monthly oz gold served (contracts) so far this month
29,819 notices
2,981,900 OZ
92.799 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 

We had 0 deposit into the dealer

 
 
 
total deposit:  nil oz    
 
 
 

total dealer withdrawals: nil oz

we had 0 deposits into the customer account
 
 
 
TOTAL CUSTOMER DEPOSITS: nil  oz
 
 
 
 
 
 
We had 1 withdrawal
 
i) Out of Manfra:  202.56 oz
 
 
 
 
 
 
total withdrawals:  
202.56 oz
 
 
 
 
 
 

We had  0  kilobar transactions (0 out of 2 transactions)

ADJUSTMENTS  1  dealer to customer account:

i) HSBC:  2518.494 oz

 

 
 
 
 

The front month of APRIL registered a total of 2615 CONTRACTS for a GAIN of 297 contracts.  We had 0 notices filed on FRIDAY, so WE GAINED A STRONG 297  contracts or an additional  29,700 oz  (0.9233 TONNES)  will stand for gold in this very active delivery month of April./ They refused to morph into London based forwards where they will circulate as serial forwards or be paid handsomely to cash settle. They decided it was in their interest to search for metal over here. No doubt it was bankers who queue jumped ahead of other investors as the need to put out fires elsewhere.

 
 
 

MAY LOST  A STRONG 127 CONTRACTS TO STAND AT 1219.

WE SHOULD HAVE ABOUT 4.0 TONNES OF GOLD STAND IN MAY 

 

JUNE LOST 4019 CONTRACTS DOWN TO 386,667

We had 1827 notice(s) filed today for 182,700   oz

FOR THE APRIL 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  1809 notices were issued from their client or customer account. The total of all issuance by all participants equates to  1827  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 621 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 53 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the APRIL /2021. contract month, we take the total number of notices filed so far for the month (29,819) x 100 oz , to which we add the difference between the open interest for the front month of  (APRIL:  2615 CONTRACTS ) minus the number of notices served upon today 1827 x 100 oz per contract) equals 3,060,700 OZ OR 95.200 TONNES) the number of ounces standing in this  active month of APRIL

thus the INITIAL standings for gold for the APRIL contract month:

No of notices filed so far (29,819) x 100 oz  + 2615 OI for the front month minus the number of notices served upon today (1827} x 100 oz which equals 3,060,700 oz standing OR 94.200 TONNES in this  active delivery month of APRIL. This is a HUGE/ATMOSPHERIC amount standing for GOLD IN APRIL, A GENERALLY STRONG ACTIVE DELIVERY MONTH.

 

WE GAINED 195 CONTRACTS OR AN ADDITIONAL 19,500 OZ WILL STAND FOR GOLD ON THIS SIDE OF THE POND AS THEY REFUSED TO MORPH INTO LONDON BASED FORWARDS 

 

 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

464,420.335, oz NOW PLEDGED  march 5/2021/HSBC  13.626 TONNES

351,292.365 PLEDGED  MANFRA 10.92 TONNES

300,622.584, oz  JPM  9.35 TONNES

1,083,680.877 oz pledged June 12/2020 Brinks/33.706 TONNES

54,419.138, oz Pledged August 21/regular account 1.690 tonnes JPMORGAN

6,308.08 oz International Delaware:  .196 tonnes

192.906 oz Malca

total pledged gold:  2,260,936.250 oz                                     70.32 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 484.43 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 95.200 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  17,835,605.010 oz or 554.76 tonnes
 
 
total weight of pledged:  2,260,936.250 oz or 70.32 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 15,574,669.0 (484,43 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes  15,574,669.0 (484.43 tonnes)
 
total eligible gold: 16,996,377.341 oz   (528.65 tonnes)
 
 
total registered, pledged  and eligible (customer) gold 34,831,982.351 oz or 1,083.42 tonnes (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  957.08 tonnes

end

I have compiled  data with respect to registered (or dealer) gold taken on first day notice for each of the past 24 months

The data begins on first day notice for the May month taken on the last day of July 2018. and it continues to present day.

I then took, how many deliveries were recorded by the CME for each and every month.  I also included for reference the price of gold on first day notice.

The first graph is a logarithmic  graph and the second graph, linear.

You can see the huge explosion of registered gold at the comex along with deliveries.

 
 
THE DATA AND GRAPHS:
 
 
 
 
 
 
 
END

 

 
 
APRIL 27/2021

And now for the wild silver comex results

 
 

And now for the wild silver comex results

INITIAL STANDING FOR SILVER/APRIL

And now for the wild silver comex results

INITIAL STANDING FOR SILVER/APRIL

APRIL. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
3,041,452.667 oz
CNT
Manfra
 
HSBC
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
 
1,182,287.401 oz
 
 
CNT
JPMorgan
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
14
 
CONTRACT(S)
(70,000 OZ)
 
No of oz to be served (notices)
28 contracts
 140,000 oz)
Total monthly oz silver served (contracts)  2961 contracts

 

14,805,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
 
We had 0 deposit into the dealer 
 

total dealer deposits: nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  2 deposits into customer account (ELIGIBLE ACCOUNT)

i) Into CNT:  600,575.080 oz

ii) Into JPMorgan: 581,712.322 oz 

 

 
 
 
 
 

JPMorgan now has 188.50 million oz of  total silver inventory or 53.34% of all official comex silver. (188.50 million/360.810 million

total customer deposits today:1,182,287.401   oz

we had 4 withdrawals

i) Out of CNT:  1,213,911.389 oz
ii) Out of Delaware: 40,080,110 oz
iii) Out of HSBC: 690,244.800 oz
iv) Out of Manfra:  1,997,256.368 oz
 
 
 
 
 

total withdrawals 3,041,452.667   oz

We had 4 adjustments:  all dealer to customer

 

i) Brinks:  738,059.500ox

ii) CNT 9,728.770 oz

iii) Int Delaware:  23,943.310 oz

 

iv)  JPMorgan: 1,206,814.690oz
 

 

 
 
 

Total dealer(registered) silver: 116.979 million oz

total registered and eligible silver:  360,810 million oz

a net 2.9 million oz leaves the comex silver vaults.

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The month of April saw 40 contracts standing for delivery for a LOSS of 12 contracts.  We had 18 contracts served upon yesterday, so we GAINED 6 contracts or AN ADDITIONAL 30,000 oz will stand for delivery over here as they REFUSED to to morph into London based forwards.  As such they negated receiving a fiat bonus. 
 
 
 
 
 
 
 

May  fell in  contracts, losing 14,874 contracts to stand at  41,398 contracts with a small portion of the loss due to initiation of our spreader liquidation. May is the next active month and it seems the cavalry are showing up for physical silver as well. Thus we have April, a non active month having an initial 14.920 million oz stand and May with open interest refusing to buckle. 

No of notices filed today:  14

To give you an idea of the strength of the May contract, let us compare the open interest remaining today vs last year. At this same time, TUESDAY  APRIL 27/2020) we had 21,062 oi contracts still outstanding on the May 2020 CONTRACT.  This year:  41,398  still outstanding!!.

LAST YEAR 7147 CONTRACTS ROLLED ON APRIL 27 ; TODAY 14,960  (looks like many were paid off in cash)

 

WE HAVE 3 MORE READING DAYS BEFORE FIRST DAY NOTICE!(LAST YR 4\3READING DAYS)

LAST YEAR WE HAD FINAL MAY SILVER OZ STANDING:  45.220 MILLION OZ/(5TH HIGHEST STANDING FOR SILVER EVER RECORDED) LAST YEAR THE SPREADERS DID NOT LIQUIDATION UNTIL THE FINAL FEW DAYS. THE SIGNAL WAS GIVEN THIS YEAR TO BEGIN A TOUCH EARLY TRYING TO STEM THE DEMAND FOR SILVER.

HERE IS LAST YEAR’S SUMMARY OF OI STANDING WITH CORRESPONDING ROLLS:

APRIL 28/20:  OI STANDING FOR SILVER 21,062  AND 7147 ROLLOVERS

APRIL 29/20   OI  STANDING FOR SILVER:  13,803  AND 7559 ROLLOVERS

APRIL 30/20   OI  STANDING FOR SILVER:   10,543 AND 3260 ROLLOVERS  (10,543 CONTRACTS EQUALS 52.715 MILLION OZ)

FOR MAY INITIALLY 52.715 MILLION OZ STOOD FOR DELIVERY BUT THE BANKERS COAXED 7 MILLION OZ TO EXIT FOR EFP’S AND THUS EVENTUALLY 45.22 MILLION OZ STOOD FOR DELIVERY.

 

June GAINED 213 contracts up to 1474.

July gained 14,509 contracts up to 108,144 contracts

 

IT LOOKS LIKE WE HAVE OUR WHALE STANDING FOR SILVER METAL.  ERIC SPROTT’S FUND HAS NOTIFIED THE SEC THAT THEY ARE DOING A SHELF OFFERING OF $2 BILLION FOR SPROTT SILVER PHYSICAL FUNDS  (PSLV). IS ERIC TAKING ON THE CROOKS BY STANDING FOR METAL IN  MAY? THE MAY OI NUMBERS HAVE REMAINED EXTREMELY HIGH NOW FOR THE PAST 16 DAYS AS THEY REFUSE TO BUDGE. I NOW THINK THAT WE MAY HAVE TWO WHALES STANDING.  MAYBE MAINLAND CHINA?

 

The total number of notices filed today for APRIL 2021. contract month represented by 0 contract(s) FOR NIL oz

To calculate the number of silver ounces that will stand for delivery in APRIL. we take the total number of notices filed for the month so far at  2961 x 5,000 oz = 14,805,000 oz to which we add the difference between the open interest for the front month of APRIL (40) and the number of notices served upon today 14 x (5000 oz) equals the number of ounces standing.

Thus the April standings for silver for the APRIL/2021 contract month: 2961 (notices served so far) x 5000 oz + OI for front month of APRIL (40)  – number of notices served upon today (14) x 5000 oz of silver standing for the Jan contract month .equals 14,945,000 oz. ..VERY STRONG FOR A NON ACTIVE APRIL MONTH. 

WE GAINED 6 CONTRACTS OR AN ADDITIONAL 30,000 OZ WILL  STAND FOR DELIVERY ON THIS SIDE OF THE POND. 

 

TODAY’S ESTIMATED SILVER VOLUME 46,313 CONTRACTS // volume: poor today// 

 

FOR YESTERDAY  98,263  ,CONFIRMED VOLUME/ strong

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  FALLS TO -0.41% (APRIL; 27/2021)

2. Sprott gold fund (PHYS): premium to NAV FALLS TO –1.25% to NAV:   (APRIL 27/2021 )

Note: /Sprott physical gold trust is back into NEGATIVE/0.41%(APRIL27/2021)

(courtesy Sprott/)

3. SPROTT CEF .A   FUND (FORMERLY CENTRAL FUND OF CANADA):

 

NAV $19.09 TRADING $18.72//NEGATIVE 1.92

END

And now the Gold inventory at the GLD/(this vehicle is a fraud as there is no gold behind them!)

APRIL 27/WITH GOLD DOWN $2.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES.

APRIL 26/WITH GOLD DOWN $1.80 TODAY;NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES

APRIL 23/WITH GOLD UP $3.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1021.70 TONNES

APRIL 22/WITH GOLD DOWN $11.30 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES

APRIL 21/WITH GOLD UP $14.40 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESSTS AT 1021.70 TONNES

APRIL 20/WITH GOLD UP $8.25 TODAY:A HUGE CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.04 PAPER TONNES INTO THE GLD///INVENTORY RESTS AT 1021.70 TONNES

APRIL 19/WITH GOLD DOWN $9.25 TODAY A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 3.2 TONNES FROM THE GLD///INVENTORY RESTS AT 1019.66 TONNES.

APRIL 16/WITH GOLD UP $13.60 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1022.86 TONNES

APRIL 15/WITH GOLD UP $29.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.21 TONNES FROM THE GLD////INVENTORY RESTS AT 1022.86 TONNES

APRIL 14/WITH GOLD DOWN $11.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1026.07 TONNES

APRIL 13/WITH GOLD UP $14.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1026.07 TONNES

APRIL 12/WITH GOLD DOWN $11.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1026.07 TONNES

APRIL 9/WITH GOLD DOWN $13.50 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 2.67 TONNES FORM THE GLD//INVENTORY RESTS AT 1026.02 TONNES

APRIL 8/WITH GOLD UP $16.90 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD/I: A WITHDRAWAL OF .36 TONNES FROM THE GLD//NVENTORY RESTS AT 1028.69 TONNES

APRIL 7/WITH GOLD DOWN $1.25 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.78 TONNES FROM THE GLD///INVENTORY RESTS AT 1029.05 TONNES

APRIL 6//WITH GOLD UP $12.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1032.83 TONNES

APRIL 5/WITH GOLD DOWN $1.65 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 4.67 TONNES FROM THE GLD///INVENTORY RESTS AT 1032.83 TONNES.

APRIL 1/WITH GOLD UP $13.00 TODAY:  NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.50 TONNES

MARCH 31/WITH GOLD UP $28.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.50 TONNES

MARCH 30/WITH GOLD DOWN $28.20 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD… A DEPOSIT OF .88 TONNES//INVENTORY RESTS AT 1037.50TONNES

MARCH 29/WITH GOLD DOWN $20.00 TODAY//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.41 TONNES FROM THE GLD..//INVENTORY RESTS AT 1036.62 TONNES

MARCH 26/WITH GOLD UP $7.00 TODAY// NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1043.03 TONNES

MARCH//25: WITH GOLD DOWN $7.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.33 TONNES//GOLD REST AT 1043.03 TONNES

MARCH 24//WITH GOLD UP $7.75 TODAY://A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.42 TONNES OF GOLD: THIS GOLD IS BEING RETURNED TO THE BANK OF ENGLAND ON A PHONY LEASE SCAM//INVENTORY RESTS AT 1045.36 TONNES.

MARCH 23/WITH GOLD DOWN $12.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1051.78 TONNES

MARCH 22/WITH GOLD DOWN $3.90 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.5 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 1051.78 TONNES

MARCH 19/WITH GOLD UP $8.60 , NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1048.28 TONNES

MARCH 18/WITH GOLD UP $5.40 TODAY, A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.04 TONNES FROM THE GLD.//INVENTORY RESTS AT 1048.28 TONNES

MARCH 17/WITH GOLD DOWN $3.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1050.32 TONNES

MARCH 16/WITH GOLD UP $2.00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 MILLION OZ FROM THE GLD//INVENTORY RESTS AT 1050.32 TONNES

MARCH 15/WITH GOLD UP $8.85 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.25 TONNES OF GOLD FORM THE GLD///INVENTORY RESTS AT 1052.07 TONNES

MARCH 12/WITH GOLD DOWN $3.25 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A REMOVAL OF 4.96 TONNES FROM THE GLD////INVENTORY RESTS AT 1055.27 TONNES

MARCH 11/WITH GOLD UP $1.25 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 1.75 TONNES FROM THE GLD///INVENTORY RESTS AT 1060.23 TONNES

MARCH 10/WITH GOLD UP $4.70 TODAY: ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.46 TONNES FROM THE GLD/INVENTORY RESTS AT 1061.98 TONNES

MARCH 9/WITH GOLD UP $37.40 TODAY: ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 5.82 TONNES FORM THE GLD////INVENTORY RESTS AT 1063.44 TONNES

 

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Inventory rests tonight at:

 

APRIL 27 / GLD INVENTORY 1021.70 tonnes

LAST;  1047 TRADING DAYS:   +87.74 TONNES HAVE BEEN ADDED THE GLD

LAST 947 TRADING DAYS// +  272.26TONNES  HAVE NOW  BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory/(this vehicle is a fraud as there is no physical metal behind them!

APRIL 27./WITH SILVER UP 20 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 568.687 MILLION OZ//

APRIL 26/  WITH SILVER UP 10 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.260 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 568.687

APRIL 23/WITH SILVER DOWN 10 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 278,000 OZ INTO THE SLV.///INVENTORY RESTS AT 569.847 MLLION OZ/

APRIL 22/WITH SILVER DOWN 34 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A MASSIVE WITHDRAWLA OF 3.619 MILLION OZ//INVENTORY REST AT 569.569 MILLION OZ..

APRIL 21/WITH SILVER UP 72 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 573.188 MILLION OZ//

APRIL 20/WITH SILVER UP 1 CENT TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIST OF 1.114MILLION OZ INTO THE SLV////INENTORY RESTS AT 573.188 MILLION OZ.

APRIL 19/WITH SILVER DOWN 31 CENTS TODAY: A HUGE  CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.671 MILLION OZ FORM THE SLV//INVENTORY RESTS AT 572.074 MILLION OZ//

APRIL 16.WITH SILVER UP 18 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.113 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 573.745 MILLION OZ//

APRIL 15/WITH SILVER UP 42 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 14/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 13/WITH SILVER UP 51 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV///INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 12/WITH SILVER DOWN 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ///

APRIL 9/WITH SILVER DOWN 27 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 8/WITH SILVER UP 33 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 7 /WITH SILVER  UP 3 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ. 

APRIL 6/WITH SILVER UP 39 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 256,000 OZ FROM THE SLV////INVENTORY RESTS AT 574.868 MILLION OZ///

APRIL 5/WITH SILVER DOWN 14 CENTS TODAY: NO  CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 575.124 MILLION OZ

APRIL 1.WITH SILVER UP 48 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.898 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 575.124 MILLION OZ/

MARCH 31/WITH SILVER UP 37 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 579.022 MILLION OZ

MARCH 30/WITH SILVER DOWN 62 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 417,000 OZ INTO THE SLV/INVENTORY REST AT 579.022 MILLION OZ..

MARCH 29/WITH SILVER DOWN 34 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 578.605 MILLION OZ.

MARCH 26/WITH SILVER UP 5 CENTS TODAY: TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.042 MILLION OZ AT 3 PM AND ANOTHER AT 5.20 PM:  1.949 MILLION OZ /INVENTORY RESTS AT 578.605 MILLION OZ

MARCH 25/WITH SILVER DOWN 15 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 3.253 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 582.596 MILLION OZ

MARCH 24//WITH SILVER UP 1 CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 585.846 MILLION OZ./

MARCH 23/WITH SILVER DOWN 55 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 585.846 MILLION OZ/

MARCH 22/WITH SILVER DOWN 50 CENTS TODAY,TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.486 MILLION OZ FROM THE SLVAT 3 PM AND ANOTHER 2.599 MILLION OZ WITHRAWWAL AT 5:20 ////INVENTORY RESTS AT 585.846 MILLION OZ/ (TOTAL SILVER LEAVING 4.085 MILLION OZ)

MARCH 19/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 589.931 MILLION OZ//

MARCH 18/WITH SILVER UP 28 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; AT 3 PM: A WITHDRAWAL OF 2.507 MILLION OZ//INVENTORY RESTS AT 589.931 MILLION OZ//

MARCH 17/WITH SILVER UP 5 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 16/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 15/WITH SILVER UP 35 CENTS TODAY: NO  CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ///

MARCH 12/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 11/WITH SILVER DOWN ONE CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 10/WITH SILVER DOWN 3 CENTS TODAY; ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 928,000 OZ FROM THE SLV////INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 9/WITH SILVER UP 91 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 593.366  MILLION OZ///

XXXXXXXXXXXXXX

SLV INVENTORY RESTS TONIGHT AT

APRIL 26/2021
568.687 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Lawrie williams:

end

 

EGON VON GREYERZ// 

 

OR

Peter Schiff..

Peter Schiff: The Federal Reserve Is Basically Just A Big PR Firm

 
TUESDAY, APR 27, 2021 – 01:35 PM

Via SchiffGold.com,

Most people view the Federal Reserve as an important policying-making body driving the economy. But in this clip from an interview with Jay Matin at Cambridge House, Peter Schiff says the Fed’s primary role is that of a marketing firm selling the populace on bad economics and trying to convince everybody that everything is great.

Peter said he thinks a large part of the Fed’s job today is public relations and spin.

To try to create a false sense of confidence in the US economy and the US dollar.”

Peter referenced an interview he saw with former Federal Reserve Chairman Ben Bernanke. The interviewer played clips of Bernanke back in 2005 and 2006 as he claimed everything was great and there was nothing to worry about. Bernanke said there was no housing bubble and any problems in the subprime mortgage market were contained. The interviewer asked Bernanke how it felt to be so wrong.

Look, you couldn’t have been more wrong. And here you were chairman of the Federal Reserve. You had all this information. More than anyone else. Now, he didn’t say, ‘Peter Schiff was out there saying it’s a housing bubble. We’re going to have a financial crisis.’ He didn’t bring me up. But he’s basically saying, ‘You had more information than everybody, yet you were so completely wrong.’ Instead of saying, ‘Yeah, I really feel kind of dumb now that I look back. God, what was I thinking? I was so clueless,’ what Ben Bernanke said, to basically save face, his answer was, ‘Well, you know, I couldn’t exactly speak forthrightly or honestly.’ I can’t remember if he said honestly. But, ‘I couldn’t actually say what I actually thought because I was part of the administration.’ And I’m thinking, what? This is what he just said? Because the Fed is supposed to be independent.”

The former Fed chair just put a spike through the myth of central bank independence. He admitted he was toeing the line for the administration. And as Peter points out, Bernanke was basically saying he got it wrong because he wasn’t even trying to get it right.

[Bernanke was saying] ‘I was just trying to reassure everybody that everything was fine and there was nothing to worry about because I was part of the administration.’ I just never believe anything they say at the Fed. I mean, I don’t believe what politicians say either.”

This should give us pause when we hear Jerome Powell assuring us that inflation is “transitory.” Is this just PR spin? Does he know the truth? Is he refusing to tell us because he’s “part of the administration?”

Interestingly, nobody was outraged at Bernanke’s confession. Nobody seemed particularly concerned that a former Fed chair basically admitted he lied to protect a political narrative.

More disturbingly, Peter said on his podcast that he suspects the same thing is happening today.

Either the Fed knows that we have a huge inflation problem on its hands and is lying about it, or it’s completely clueless and doesn’t realize it.”

Neither scenario is particularly comforting.

The Federal Reserve is hanging its hat on the fact that it printed a bunch of money over the last 10 or 20 years and price inflation never reared its ugly head. Therefore, we can do this forever. But as they say in the investing world, past performance doesn’t guarantee future results. Peter said he thinks this will ultimately go down as the Fed’s biggest blunder.

Much more so than the mistake in its bad read on subprime problems being contained. The idea that inflation was transitory is going to be an even bigger mistake and an even bigger policy failure, because, by the time the Fed is forced to admit that they were wrong and inflation wasn’t transitory, they will have waited too long to do anything about it.”

end

or
PAM AND RUSS MARTENS

Wall Street On Parade

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

As far as exports are concerned, Russia has ditched the dollar as more than half of its exports are i n non dollar 

terms

(Bloomberg/GATA)

Russia ditches the dollar in more than half of its exports

 

 

 Section: Daily Dispatches

 

By Natasha Doff and Andrey Biryukov
Bloomberg News
Monday, April 26, 2021

The U.S. dollar share of Russian exports dropped below 50% for the first time on record in the fourth quarter following a multi-year Kremlin campaign to reduce the country’s vulnerability to U.S. assets.

Most of the slump in dollar use came from Russia’s trade with China, more than three-quarters of which is now conducted in euros, according to central bank data published Monday. The common currency’s share in total exports jumped more than 10 percentage points to 36%, the data show. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2021-04-26/russia-ditches-the-do…

end

iii) Other physical stories:

COMMODITY PRICES

CORN

Corn is at an 8 yr high as inflation is ripping apart the USA…actually it is the entire agric. sector

(zerohedge)

Corn Prices Touch 8-Year High As Albert Edwards Worries About Food Inflation

 
MONDAY, APR 26, 2021 – 09:40 PM

Chicago corn futures are up 3% Monday as supply concerns drive prices to an 8-year high. 

“Corn is in the driver’s seat as there are supply worries as well as strong demand,” a Singapore-based feed grains trader told Reuters. “Corn is pulling prices of wheat and soybeans higher.”

Besides corn, wheat tagged a seven-year high, while soybeans are at eight-year highs. The entire agri-complex is on fire. 

Traders are looking at the dryness in Brazil and cold temperatures in the US that have supported prices. 

BAMWX meteorologist Kirk Hinz outlines dryness in Brazil “continues to be a big concern ahead.”

Also, “fuel is being added to the fire by reports that the Argentinian government is considering raising its export taxes on grains and oilseed (products), which would further tighten the situation on the world market,” Commerzbank said in a note.

Commerzbank continued: “This is because Argentina also plays a very important role in supplying the world markets, especially as the world’s largest soybean meal and oil exporter.”

In the US, a cold spell in early April adds to additional supply concerns. 

We noted earlier this month that freezing temperatures could have a profound impact on seedling development this spring. 

The cold blast has likely delayed seeding across the Corn Belt as farmers wait for warmer temperatures. Planting corn in cooler climates is still possible, but colder soil can take corn kernels much longer to germinate and increases the risk of seedling death. 

Combine weather woes and possible export taxes in Argentina, and increasing demand from China has developed into a perfect storm of higher prices. 

Rising agri commodity prices prompted SocGen’s resident permabear Albert Edwards to provide yet another warning (read his first warning here) about soaring food inflation and what social ramifications it could mean for emerging economies. He pointed out central banks pumped trillions of dollars into the global economy after the financial crisis a little more than a decade ago. It resulted in an eruption of food prices that led to the Arab Spring revolutions – something he believes could happen again

“I’m not sure if central banks will ever realise not only do their QE polices increase inequality and fan the embers of popularism, but after having done that, rocketing food prices ignite that discontent into raging infernos as occurred during the Arab Spring a decade ago,” Edwards said in another tweet. 

Food prices are undeniably soaring faster than inflation and incomes around the world. It’s only a matter of time before social instabilities begin in low-income countries.

end

Your early TUESDAY morning currency, Asian stock market results,  important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/7 AM EST

i) Chinese yuan vs USA dollar/CLOSED UP at 6.4833 /

//OFFSHORE YUAN:  6.4800   /shanghai bourse CLOSED UP 1.45 pts or 0.04%

HANG SANG CLOSED DOWN 11.29 PTS OR 0.04% 

2. Nikkei closed DOWN 134.34 POINTS OR  0,46%

3. Europe stocks  ALL RED 

USA dollar index  UP TO 90.87/Euro RISES TO 1.2085

3b Japan 10 year bond yield: RISES TO. +.085/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 108.24/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST ABOVE 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 62.23 and Brent: 66.01

3f Gold UP/JAPANESE Yen DOWN CHINESE YUAN:   ON -SHORE CLOSED UP/OFF- SHORE: UP

3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END

Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.

3h Oil UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.25%/Italian 10 Yr bond yield UP to 0.82% /SPAIN 10 YR BOND YIELD DOWN TO 0.41%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.07: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.90

3k Gold at $1781.65 silver at: 26.24   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 14/100 in roubles/dollar) 74.88

3m oil into the 62 dollar handle for WTI and 66 handle for Brent/

3n Higher foreign deposits out of China sees huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 108.24 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning .9131 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1036 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017

3r the 10 Year German bund now NEGATIVE territory with the 10 year RISING to 0.25%

The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.

4. USA 10 year treasury bond at 1.585% early this morning. Thirty year rate at 2.260%

5. Details Ransquawk, Bloomberg, Deutsche bank/Jim Reid.

6.  TURKISH LIRA:  DOWN  TO 8.23.. DEADLY

Futures Hit All Time High In Sleepy, Overnight Session

 
TUESDAY, APR 27, 2021 – 07:46 AM

For the second day in a row, U.S. equity futures are starting the day barely changed, up just 0.1% and at new all time highs, alongside Treasury yields as earnings reports added to positive sentiment regarding an economic recovery in the developed world despite some disappointment in the latest TSLA results. The S&P 500 and the Nasdaq closed at record levels on Monday, with the tech-heavy Nasdaq completing a full recovery from its 11% correction that began in February.

At 07:15 a.m. ET, Dow E-minis were up 12 points, or 0.04%, S&P 500 E-minis were up 4.5 points or 0.1% to 4,184, trimming earlier gains that pushed the Emini as high as 4,192.5, and Nasdaq 100 E-minis were up 20 points, or 0.14%.

Russell 2000 futs led advances in the premarket as yields rose across the curve, while staying below recent peaks. The dollar increased for the first time in three days.

Some notable pre-market movers:

  • Gamestop soared 8% in early New York trading after completing an “at-the-market” equity offering. Amazon Inc., which will release its profit report this week, also climbed.
  • Tesla dropped about 3% in premarket trading after it marginally beat analysts’ expectations for quarterly revenue, helped by a jump in environmental credit sales to other automakers and liquidating some bitcoins.
  • Cryptocurrency-exposed stocks rose in premarket as Bitcoin extended its bounce back from recent lows and after Tesla renewed its commitment to the token.

Four out of five S&P 500 Index companies that have announced results so far have either met or beaten expectations, and after soft results from Tesla on Monday, all eyes will be on Microsoft and Alphabet which are due to report after trading closes. Apple, Facebook and Amazon.com are slated to report later in the week. The five companies combined account for about 40% of the S&P 500’s market capitalization. While equity investors offered a sluggish response to the reports, it only served to highlight traders’ lofty expectations than doubt over the outlook. Some of the names reporting earnings Tuesday include Alphabet, Invesco, MSCI and Visa.

“Muted stock-price reaction to the robust numbers is largely due to already elevated expectations going into the reporting season,” strategists led by Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note. “The strong results give us greater confidence that (U.S.) corporate profits will grow more than 30% in 1Q.”

In Europe, the Stoxx Europe 600 slipped 0.2% as of 10:37 a.m. in London, with travel and leisure stocks rising the most among sectors. Here are some of the biggest European movers today:

  • Evolution Gaming shares jump as much as 11.1% after the company topped both revenue and margin estimates, with Live Casino reaching a record high growth rate, Morgan Stanley (overweight) says after the company’s 1Q earnings report.
  • Michelin shares fall as much as 3.3% in Paris and the French tiremaker is the day’s worst-performing stock on the Stoxx 600 Automobiles & Parts Index as analysts note an in-line 1Q sales update and see limited changes to consensus.
  • Stratec shares rise as much as 16.1%, the most in just over a year, after the automation solutions company reported 1Q results that Commerzbank says were a strong beat, with newsflow expected to remain positive.
  • DSV Panalpina shares soar as much as 9.9% to a record after the Danish company reported 1Q results that exceeded expectations, prompting higher FY guidance. DSV also announced the $4.1b acquisition of Agility Logistics, a move welcomed by analysts.
  • EDF shares rise as much as 6.6% in Paris following a report that a deal on the energy group’s reform is close, which Barclays says is likely to viewed “very positively.” France and the European Commission agree they need to “go fast” in their talks over the reorganization of EDF, Le Figaro reported, citing an unnamed person close to the matter.

In Asia, equities benchmarks in Shanghai and Taiwan climbed, while peers in Japan, Hong Kong and South Korea slipped, as Asian stocks headed toward their first decline in four trading sessions with investor sentiment weighed down by the resurgence of Covid-19 cases and China’s widening internet crackdown. Japan was among the worst performers, sending the Topix Index down by 0.8%. An analyst at SMBC Nikko Securities is wary about the country’s domestic demand as it repeatedly entered into states of emergency to control the pandemic. Political uncertainty also put investors on edge given that Prime Minister Yoshihide Suga faces weakening support. Also dragging down Asia’s benchmark was Chinese tech heavyweight Tencent, after the country’s antimonopoly probe into Meituan cast a shadow on other internet bellwethers. That said, Meituan erased an earlier decline of as much as 2.8%, rebounding to close up 2.6%. Meanwhile, the health care sector dropped 1.3%, set to be the biggest loser on the MSCI Asia Pacific Index on Tuesday. China’s drug maker Wuxi Biologics Cayman Inc. was one of the biggest decliners, as the stock sank after shareholders sold holdings worth $1.5 billion. “Asia-Pacific markets remain jittery about surging coronavirus cases in India and new state-of-emergency measures in Japan,” said Margaret Yang, a strategist at DailyFX. “Investors digested mixed earnings from Tesla and Huarong’s credit downgrade, both of which weighed on sentiment.” However, India stocks rose for a second day on optimism the U.S. decision to offer vaccine support will aid the nation’s effort to control the world’s largest surge in coronavirus infections.

Japanese stocks fell as the nation’s relatively slow vaccination rollout left investors with few incentives to pick up shares. Electronics makers and chemical-related companies were leading drags on the Topix, which dipped back below the closing level from Friday when the gauge capped its worst weekly rout since February. SoftBank Group and Shin-Etsu Chemical helped push down the Nikkei 225 Stock Average. Shares held losses after the Bank of Japan left its main policy levers unchanged while cutting its price forecast for this year as the nation enters a renewed virus emergency. Investor sentiment remained weak despite a two-day rally on Wall Street that lifted U.S. shares to a record amid solid corporate earnings and confidence that the Federal Reserve will remain accommodative. “Japan being slow in responding to the coronavirus outbreak is serving as a reason for the market’s move,” said Fumio Matsumoto, chief strategist at Okasan Securities Co. in Tokyo. “But it’s more because the performance of Japanese equities has become dull that foreign investors are losing their interest in local stocks.” Investors also remained reluctant to buy shares amid signs of weakening support for Prime Minister Yoshihide Suga. Losses in three special elections for parliamentary seats over the weekend have left the leader in search of a way to quickly boost support or risk joining a long list of short-serving premiers. The result “could possibly be seen as cracks in the wall for Suga and his administration,” said Takeo Kamai, head of execution services at CLSA Securities Japan Co. in Tokyo. “With how the government has been handling the Covid situation — from the state of emergencies, the vaccination process to the Olympics — clearly the people are disgruntled.”

Meanwhile, the latest GDP data this week are expected to show growth accelerated to an annualized 6.8% in the first quarter. A Conference Board measure Tuesday may show U.S. consumer confidence surged for a fourth successive months to the highest level since March 2020. That said, such reports aren’t shifting the Federal Reserve’s highly accommodative stance, with the central bank expected to keep policy unchanged at this week’s meeting.

In rates, Treasury yields were cheaper by more than 1bp across long-end of the curve after futures drifted lower during Asia session and European morning. Price action and volumes were muted as Japan’s Golden Week holiday nears. 10-year yield around 1.58% is ~1bp cheaper on the day; gilts broadly keep pace with bunds little changed. Treasury’s 7-year note sale at 1pm ET concludes a compressed auction cycle ahead of Wednesday’s FOMC decision.

In FX, the Bloomberg Dollar Spot Index climbed for the first day in three after slipping to a two-month low on Monday, and the U.S. currency advanced against all its Group-of-10 peers; the euro extended a loss in European trading. The pound fell the most in nearly a week against a stronger dollar, as allegations of sleaze continued to swirl around the U.K. government. Sweden’s krona largely shrugged off the Riksbank which underlined its commitment to keeping monetary stimulus in place, as it pointed to a “slightly brighter” economic outlook but warned that the pandemic “is not over”. The yen slipped as Bank of Japan’s new forecasts showed Haruhiko Kuroda will fail to reach stable 2% price growth during his term. The Australian dollar pared a decline as gains in oil and iron ore helped revive demand for commodity currencies.

In commodities, oil and the dollar also rose. Copper led the Bloomberg Commodity Index higher, as the growth-sensitive metal extended a rally on the U.S. administration’s plans for a large infrastructure package. Oil climbed after OPEC+ projected a strong recovery beyond near-term demand destruction from India’s Covid-19 surge.

Looking at the day ahead, there are an array of earnings releases to watch out for including Microsoft, Alphabet, Visa, Eli Lilly, Texas Instruments, UPS, Amgen, Starbucks, Raytheon Technologies, General Electric and 3M. Data highlights from the US include the Conference Board’s consumer confidence indicator for April, the FHFA house price index for February and the Richmond Fed’s manufacturing index for April. Central bank speakers include Bank of Canada Governor Macklem and the ECB’s Hernandez de Cos.

Market Snapshot

  • S&P 500 futures up 0.1% to 4,184.25
  • STOXX Europe 600 little changed at 440.25
  • German 10Y yield rose 0.4bps to -0.251%
  • Euro down 0.2% to $1.2061
  • Brent Futures up 0.8% to $66.15/bbl
  • Gold spot down 0.2% to $1,778.60
  • U.S. Dollar Index up 0.24% to 91.03
  • MXAP down 0.4% to 208.32
  • MXAPJ little changed at 702.48
  • Nikkei down 0.5% to 28,991.89
  • Topix down 0.8% to 1,903.55
  • Hang Seng Index little changed at 28,941.54
  • Shanghai Composite little changed at 3,442.61
  • Sensex up 1.0% to 48,885.83
  • Australia S&P/ASX 200 down 0.2% to 7,033.83
  • Kospi little changed at 3,215.42

Top Overnight News from Bloomberg

  • Central bankers worldwide will be watching the Wednesday decision of the Federal Reserve for signals on timing of QE taper
  • China’s local authorities have slowed the pace of debt sales to finance infrastructure projects this year, evidence of a gradual tightening of fiscal policy as the government shifts its focus toward risk control
  • The Fed is expected to announce it will begin trimming its $120 billion in monthly asset purchases before the end of the year as the U.S. economy recovers strongly from Covid-19, according to economists surveyed by Bloomberg
  • Prime Minister Mario Draghi has just a few days to refine what he calls a “historic” plan to rescue Italy’s economy from the pandemic and fix long-lasting structural weaknesses, with 261.1 billion euros ($315.6 billion) of chiefly European Union funds
  • France and Germany support the U.S. proposal of a 21% minimum tax on multinational companies, French Finance Minister Bruno Le Maire and his German counterpart Olaf Scholz told Le Figaro and Die Zeit in a joint interview released on Tuesday
  • Insurers, pension systems and high-grade credit managers in the U.S. and Europe are buying bigger amounts of junk-rated debt to offset shrinking yields, forcing high-yield investors to jostle for allocations of BB rated bonds — the safest and largest part of their class with 60% of the market
  • The U.K.’s sale of long-dated debt couldn’t have come at a better time. Solid over-subscription rates in recent offerings and juicy yields suggest demand for gilts maturing in 2051 on Tuesday is going to be healthy. Supply, meanwhile, promises to be limited after the U.K. pared bond sale plans for the fiscal year on Friday, an added boon for investors

Quick look at global markets courtesy of Newsquawk

Asia-Pac stocks failed to take impetus from the mostly positive close and fresh record levels stateside, whereby the regional bourses remained cautious heading into the looming risk events and amid ongoing COVID-19 concerns. ASX 200 (-0.2%) was pressured with the index dragged lower by underperformance in tech and industrials but with losses stemmed as the mining-related sectors were kept afloat by the recent surge in copper and iron ore prices, while M&A newsflow provided some support with Bingo Industries underpinned after it entered into scheme implementation deed regarding the AUD 2.3bln buyout offer from MIRA and Tabcorp was also lifted after it received a proposal valued at AUD 3.5bln from Entain. Nikkei 225 (-0.5%) was subdued amid the ongoing state of emergency for key areas and unsurprising BoJ policy announcement although the downside was cushioned by a softer currency. Hang Seng (-0.1%) and Shanghai Comp. (U/C) conformed to the uninspired mood initially in-spite of a surge in Industrial Profits for March which was likely due to base effects and with sentiment also dampened by crackdown concerns for the tech sector after China’s market regulator launched an anti-monopoly investigation into Meituan. However, HSBC shares were a notable mover with gains of around 2% following strong Q1 earnings; and the Shanghai Composite did recoup this earlier losses by the close. Finally, 10yr JGBs languished after the prior day’s retreat beneath the 151.50 level, with demand hampered after T-note futures slightly pulled back and following the lack of fireworks at the BoJ policy announcement where the central bank refrained from any policy tweaks but lowered the current fiscal year Core CPI estimate, as expected.

Top Asian News

  • Macquarie Buys Australian Waste Firm Bingo for $1.76 Billion (2)
  • HSBC Signals It May Have to Hike Pay in Asia Amid Talent War
  • Kotak Mahindra Shares Fall as India Caps Founder-CEOs’ Term
  • Hong Kong to Reopen Bars, Nightclubs to Vaccinated People

Major bourses in Europe have been drifting lower (Euro Stoxx 50 -0.4%) following yet another uninspiring cash open in what is seemingly the quiet before the storm as earnings are set to pick up pace and the FOMC looms. State-side, futures are relatively flat with the RTY eking ahead as participants await the US entrance alongside a slew of corporate updates. Back to Europe, the region sees no standout performers, although the UK’s FTSE 100 (+0.1%) is kept afloat amid earnings from heavyweights HSBC (+1.9%) and BP (+1.1%), with the former topping its revenue and profit forecasts and announcing ECL release of USD 400mln vs a charge of USD 3bln last year. Meanwhile, BP is bolstered by all-around firm metrics alongside the announcement of a USD 500mln share buyback in Q2, whilst its CEO said a pre-COVID level dividend could be on the table next year. Sectors in Europe are mixed with no overarching theme. Travel & Leisure reside as the top performer – with reports suggesting that UK Transport Secretary Shapps has called for a meeting between G7 counterparts at the June 11th summit to form a global travel system that would form international standards for ‘green list’ countries accepted digital vaccination/test proof as a condition of entry. Further, Sweden’s Evolution Gaming (+10%) provides the sector with tailwinds post-earnings. On the flip side, the Auto sector lags amid the ongoing supply shortage coupled with some pre-market downside for post-earnings Tesla (-2.5%). Further, the financial sector is the red despite HSBC’s gains as UBS (-2.7%) shares are pressured after reporting a USD 744mln hit in relation to the Archegos default. In terms of individual stocks, earnings-related movers include ABB (+2%). Novartis (+1%), Novozymes (8%) and Maersk (+1.6%). Elsewhere, Entain (+0.5%) sees modest gains after submitting a revised AUD 3.5bln bid for Tabcorp.

Top European News

  • DSV Agrees to Buy Agility’s Logistics Unit for $4.1 Billion
  • Hungary Shifting Billions in Funds Decried as ‘Theft’
  • Putin’s Drive to Ditch Dollar Picks Up as Exports Move to Euros
  • Draghi Bets 261 Billion Euros to Redesign Italy’s Economy

In FX, the Dollar index has now climbed above the 91.000 level that was proving elusive after a narrow miss at 90.989 on Monday, but whether it can sustain gains above and the close higher remains to be seen given chart resistance in the form of the 100 DMA and 21 WMA at 91.025 and 91.070 respectively vs a 91.072 peak thus far. However, the Greenback continues to outpace low yielders and perhaps more encouragingly has also clawed back some lost ground against high beta, commodity and cyclical currencies that started the week so well. Moreover, the Buck is holding up well considering impending month end rebalancing flows that are unusually negative for April, according to Citi’s hedging model with a 1.7 SD seen only 5% of the time since 2004. Ahead, US consumer confidence and the 7 year note auction after somewhat mixed 2 and 5 year results yesterday could keep Treasury yields on a firmer footing before attention reverts to the FOMC tomorrow.

  • SCANDI – Firmer oil prices appear to be helping the Nok stay close to 10.0000 vs the Eur, but the Sek remains below 10.1000 in wake of the latest Riksbank policy meeting where rates, QE and the projected repo path were all left unchanged, as low inflation pressures countered a slightly better assessment of the economic outlook – see headline feed at 8.30BST for more details, analysis, initial market reaction and a link to the full statement. Meanwhile, Swedish data may also be weighing on the Crown that is now slipping towards 10.1550, with unemployment rising in March and the trade surplus narrowing.
  • NZD/CHF/AUD – The Kiwi has derived little in the way of added impetus following the reopening of NZ markets from the long ANZAC Day weekend, as Nzd/Usd fades on the 0.7200 handle and Aud/Nzd stays elevated nearer 1.0800 than 1.0750 in the run up to trade data. Nevertheless, the Aussie is also waning vs its US counterpart after relinquishing 0.7800+ status and eyeing Q1 CPI for some independent direction to supplement or offset underlying support via copper and other base metals. Elsewhere, the Franc is still tracking external moves in the main, around 0.9150 against the US Dollar and 1.1050 vs the single currency.
  • CAD/GBP/EUR/JPY – All conceding ground to the firmer Greenback recovery, with the Loonie back below 1.2400 ahead of comments from BoC Governor Macklem that could revive its hawkish vibes, while Sterling, the Euro and Yen are striving to hold above 1.3850, 1.2050 and 108.50 respectively, latter largely shrugging off the on hold BoJ. Note also, Eur/Usd will be looking for some technical traction via the 100 DMA close to the half round number if not leverage from the Eur/Gbp cross that is probing 0.8700 again, while Usd/Jpy should be capped by decent option expiry interest at the 108.75 strike (1.4 bn) if 108.50 is cleared convincingly.

In commodities, WTI and Brent front month futures eke mild gains as participants gear up for today’s JMMC (13:00BST/08:00EDT) in what was a last-minute change to the schedule, with the OPEC+ meeting still currently set for tomorrow according to OPEC’s website. As a reminder, the JMMC only makes recommendations rather than policy decisions. Nonetheless, today could see a flurry of sources – with market expectations skewered towards no change in quotas – however, it’s worth noting that OPEC+ has surprised markets at most meeting this year thus far. Aside from OPEC headlines, participants will be eyeing the weekly Private Inventory data as a scheduled catalyst. Further, there has been reports that an oil ship has reported an oil leak off Saudi’s Yanbu port, although later reports suggested this was not an attack. Further, a cargo vessel reportedly rammed into a tanker carrying 1mln barrels off the coast of Qingdoa in China. However no immediate price action was seen in wake of these reports. WTI resides off best levels now under the USD 62.50/bbl mark (vs range 61.91-62.74/bbl) while its Brent counterpart trades on either side of USD 66/bbl (vs range 65.66-66.44/bbl). Elsewhere, spot gold and silver are uneventful within recent ranges in the run-up to the FOMC announcement tomorrow. Meanwhile, copper continues to turn heads as LME prices eye USD 10,000/t to the upside. Analysts at ING note that the relative strength in LME vs Shanghai copper has led to an open export arbitrage for some players, which could deter some speculative buying in London in the very short term.

US Event Calendar

  • 9am: U.S. FHFA House Price Index MoM, Feb., est. 1.0%, prior 1.0%
  • 9am: U.S. S&P CS Composite-20 YoY, Feb., est. 11.80%, prior 11.10%
    • S&P/Case-Shiller US HPI YoY, Feb., no est., prior 11.22%
    • S&P/CS 20 City MoM SA, Feb., est. 1.10%, prior 1.20%
  • 10am: U.S. Conf. Board Consumer Confidence, April, est. 113.0, prior 109.7; Expectations, April, no est., prior 109.6; Present Situation, April, no est., prior 110.0
  • 10am: U.S. Richmond Fed Index, April, est. 22, prior 17

DB’s Jim Reid concludes the overnight wrap

It’s always fun to come downstairs for an afternoon cuppa whilst WFH. There’s usually a surprise or a crisis to watch unfold. However yesterday I was greeted by the blowing up of about the fifth blow up pool (via Amazon) since lockdown started. The other four had irreparable punctures and only one caused by Bronte’s claws. This one has an impressively large blow up slide. However I can’t help thinking that an actual swimming pool will end up being cheaper at this rate.

There are yet to be any real punctures in the global risk balloon at the moment and ahead of tomorrow’s Federal Reserve meeting and a raft of corporate earnings releases this week, global equities resumed a gentle upward march yesterday. Both the S&P 500 (+0.18%) and the MSCI World index (+0.34%) reached new all-time highs. We’ll have to wait and see if these upcoming events might throw this off course, but positive news on potential travel arrangements this summer helped travel-sensitive stocks outperform, as cyclicals more broadly led the moves higher on the back of growth optimism on either side of the Atlantic. Indeed, a key New York Times report from the weekend that we mentioned yesterday, where European Commission President von der Leyen said that vaccinated US tourists would be able to travel to the EU, helped the STOXX 600 Travel & Leisure index to climb +1.76%, well ahead of the performance of the broader STOXX 600, which was only up +0.26%.

Optimism on the coming recovery sent copper prices (+2.47%) to their highest level in nearly a decade, whilst bitcoin (+10.7%) staged a big rebound from its recent declines in its own best day since early February. Tech stocks had a strong day too, with the NASDAQ (+0.87%) similarly reaching a record high by the close. Small-cap stocks still outperformed to send the Russell 2000 up +1.15%. Under the surface, there was a rotation from safer/defensive industries such as household products (-1.33%) and food staples (-1.26%) into risker and more cyclical industries such as semiconductors (+1.53%), banks (+0.71%) and retailers (+0.68%). After the close, we got the first big earnings release of the week from Tesla. The most valuable car maker showed a record profit last quarter, while announcing plans to ramp up production. However shares slid just over -3% in after-market trading as the company declined to offer delivery estimates and concerns grow about competition in the EV market. One interesting note was that the automaker registered a $101 million gain from selling 10% of their bitcoin holdings over the quarter, which accounts for $0.25/share of the $0.93/share reported EPS. Today’s main earnings highlights will include Microsoft and Alphabet, both of which are also after the US close.

Asian markets are trading weaker this morning with the Shanghai Comp (-0.54%) underperforming while the Nikkei (-0.13%), Hang Seng (-0.15%) and Kospi (-0.34%) are also trading slightly lower. The underperformance of the Shanghai Comp is likely due to the broadening antitrust crackdown by the Chinese government which is now investigating food-delivery giant Meituan for suspected monopolistic practices. Similar investigations on Alibaba had led to a record fine on the group. Futures on the S&P 500 are up +0.07% but European ones are pointing to a slightly weaker open with those on the Stoxx 50 down -0.15%.

We also saw the BoJ policy decision this morning where there were no surprises with the central bank leaving its interest rate and asset purchase settings unchanged. Meanwhile, the BoJ raised their growth forecast for the fiscal year (started this month) to 4% from 3.9%, despite the renewed emergency restrictions recently introduced in 4 prefectures, including the Tokyo region. The central bank’s latest CPI forecasts also show that it is unlikely to reach its price target in the current governor Kuroda’s term.

Back to yesterday, and sovereign bonds sold off as investors moved out of safe havens, with yields on 10yr US Treasuries up +0.9bps to 1.567%. The move was driven by higher inflation expectations (+2.4bps), with real yields actually falling back (-1.6bps). Treasury yields were as high as 1.597% mid-session prior to a pair of bond auctions. $121bn of issuance came across 2-year and 5-year notes and although interest was perhaps slightly weak the fact that it got absorbed helped the market rally after. Over in Europe, yields moved higher as well, with those on 10yr bunds (+0.4bps), OATs (+0.4bps) and BTPs (+1.8bps) all rising on the day.

In Germany, with less than 5 months now until the federal election in September, yet another poll out yesterday indicated that the Greens had overtaken Chancellor Merkel’s CDU/CSU bloc, suggesting that the initial poll showing that last week wasn’t just a fluke. Der Spiegel reported yesterday that a Civey poll showed that the CDU/CSU were down 6 points on 24%, whereas the Greens had surged to 29%, up 5 points from the last poll. And that follows a Kantar survey for the Bild am Sonntag newspaper over the weekend, which also showed a Green lead over the CDU/CSU of 29% to 28%. So there are obviously the usual caveats as to whether this will last, not least since the SPD saw their own temporary surge in 2017 after selecting their chancellor candidate, but the signs are pointing to a definite shift in position for the time being. Will a more successful vaccination program help the CDU/CSU gain ground as it has the U.K. government?

There wasn’t a great deal of news on the pandemic yesterday, though global case rates continue to remain at some of the highest we’ve seen to date. India has reported 323,144 cases over the past 24 hours, and has now reported over 300k cases for the 6th day in a row. In Germany, Chancellor Merkel said that vaccines would be available to everyone from June onwards, and that the country would relax rules for the vaccinated, saying they wouldn’t need tests for shopping or the hairdressers. Over in Turkey, President Erdogan exacted a 3-week lockdown starting from this Thursday, with all students going to remote schooling. According to the President the economy should only reopen once new daily cases fall under 5k per day, which is a good deal lower than the over 38k new cases recorded on Sunday. During a visit to a local school, President Macron hinted at a potential timeline for reopening in France. He said restaurants would gradually begin reopening between May and early June, with cultural venues reopening from mid-May and the current 7pm-6am curfew pushed back around the same time if virus circulation is brought under control.

Looking ahead, a highlight today will be remarks from President Biden on the pandemic, and CNN are reporting sources saying that he’ll announce new CDC guidance on whether vaccinated people needed to wear masks outdoors. Also out of the US, it was reported yesterday that the nation is planning to begin sharing its store of AstraZeneca vaccine with the world. Once the vaccine clears federal safety reviews, the White House has said it will make as many as 60 million doses available for export over the summer.

The Ifo Institute’s business climate indicator in Germany rose by less than expected to 96.8 in April (vs. 97.8 expected). That’s the strongest reading since June 2019, but although the current assessment number rose to 94.1 (vs. 94.4 expected), which is the strongest since the pandemic began, the expectations reading fell back to 99.5 (vs. 101.2 expected). Over in the US meanwhile, the preliminary durable goods orders figure for March only rose by +0.5% (vs. +2.3% expected). Finally, the Dallas Fed’s manufacturing index rose to 37.3, which is the highest since June 2018, while the new orders index rose to 38.5, which is the highest since the survey first began 17 years ago.

To the day ahead now, and there are an array of earnings releases to watch out for including Microsoft, Alphabet, Visa, Eli Lilly, Texas Instruments, UPS, Amgen, Starbucks, Raytheon Technologies, General Electric and 3M. Data highlights from the US include the Conference Board’s consumer confidence indicator for April, the FHFA house price index for February and the Richmond Fed’s manufacturing index for April. Central bank speakers include Bank of Canada Governor Macklem and the ECB’s Hernandez de Cos.

3A/ASIAN AFFAIRS

i)TUESDAY MORNING/ MONDAY NIGHT: 

SHANGHAI CLOSED UP 1.45 PTS OR 0.04%   //Hang Sang CLOSED DOWN 11.29 PTS OR 0.04%     /The Nikkei closed DOWN 134.34 POINTS OR 0.46%//Australia’s all ordinaires CLOSED DOWN 0.17%

/Chinese yuan (ONSHORE) closed UP AT 6.4833 /Oil DOWN TO 61.15 dollars per barrel for WTI and 65.12 for Brent. Stocks in Europe OPENED ALL RED  //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4833. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4800   : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/

END

b) REPORT ON JAPAN

JAPAN//

 

3 C CHINA

CHINA/CHINA’S BIG TECH

First, Alibaba, and now Beijing is reining in on of the big tech giants dominating the Chinese domestic economy, Meituan for its monopolistic business practices.

Beijing’s ‘Big Tech’ Crackdown Continues With Anti-Trust Probe Into Food-Delivery Giant

 
MONDAY, APR 26, 2021 – 08:40 PM

Two weeks after China’s State Administration for Market Regulation – Beijing’s paramount anti-trust regulator – fined Alibaba a record $2.8 billion for abusing its market dominance, capping off the country’s first major anti-trust action to rein in one of the tech giants dominating the Chinese domestic economy, the CCP has just launched its next major anti-trust investigation.

The SCMP reported that China’s antitrust regulator on Monday officially launched a probe into food-delivery service provider Meituan, citing alleged monopolistic business practices like forcing merchants to “pick one from two” – that is, forcing merchants to either pick its platform as its exclusive distribution channel, or find themselves banned.

The probe reportedly resulted from a public tip. Though it’s not yet known how long the investigation will last, it’s worth remembering that the Alibaba probe was launched on Christmas Eve of last year, and ended earlier this month. Meituan has pledged to cooperate (though of course it has little choice in the matter).

“The company will actively cooperate with the investigation by the regulatory authorities to further improve the level of business compliance management, protect the legitimate rights and interests of users and all parties, promote the long-term and healthy development of the industry, and earnestly fulfill its social responsibilities,” Beijing-based Meituan said in a statement. “At present, the company’s various businesses are operating normally.”

According to the SCMP, this tactic of forcing merchants to choose just one platform is widespread in China, suggesting that the crackdown – like other antitrust actions – is more about humbling China’s upstart tech giants and keeping them subservient to the will of the CCP. The company’s shares declined on the news in Hong Kong markets.

The new probe proves that Beijing’s crackdown on Alibaba and Ant Group wasn’t isolated, and that there will likely be more investigations into other Chinese tech giants before this is over, the SCMP hinted. “It’s not a surprising decision. After Alibaba’s record fine, no big tech players should be immune from monopoly investigations,” said Li Chengdong, the chief executive of e-commerce consultancy Dolphin Think Tank. “The regulators need to also show that the investigation is a fair move for everyone, it’s not only about Alibaba.”

Meituan, which was founded by 42-year-old Wang Xing, has been dragged into court over allegations of unfair competition before. A local court in Jiangsu this month ruled that Meituan had to pay 352,000 yuan ($54,180) as compensation to Ele.me. a food-delivery adversary owned by Alibaba (as fate would have it) for asking merchants to shun the competing service. Aterward, Meituan issued a public statement claiming it wouldn’t make such demands in the future. Another similar lawsuit played out in February. Then, Meituan and 33 other tech companies were brought in front of SAMR and other regulators earlier this month, and given a deadline of May 13 to rectify anti-competitive behaviors, or be “severely punished”. While the company says it doesn’t practice “one of two”, sources told the FT that Meituan practices a more scaled-down approach whereby it lowers commissions on merchants who exclusively use its platform.

 

end

CHINA

This is far reaching: a new Chinese decree forces religious leaders to actively support the CPP

(zerohedge)

New Chinese Decree Forces Religious Leaders To Actively Support Communist Party

 
MONDAY, APR 26, 2021 – 10:20 PM

China has rolled out with a new policy which requires all religious leaders in the country to show open support to the Chinese Communist Party (CCP). The new decree goes into effect May 1 and orders all religious heads, including Christian pastors and bishops, to “follow the lead of and support the Communist Party.”

While Chinese state interference in religious affairs of citizens is far from anything new, this particular decree appears far reaching and is also aimed at rooting out “foreign” influence, with significant legal repercussions that are threatened.

Government-approved Catholic Mass in Beijing, via VOA

According to an unofficial translation of Article 3 of the decree: Religious professionals shall love the motherland, support the leadership of the Communist Party of China, support the socialist system, abide by the Constitution, laws, regulations, and rules; practice the Core Socialist Values, uphold the principle of religious independence and self-management, persist in our nation’s direction of the sinification of religion, and preserve national unity, ethnic unity, religious harmony, and social stability.”

The full decree entitled “Measures on the Management of Religious Professionals” also purports to define “rights” of “religious professionals” – or rather their extreme limitations under the law.

It also requires religious clerics to resist the infiltration of foreign forces through religion. Violators of the new decree will also be subject to criminal charges and other sanctions, which is a strengthening of older policies. Instead of just state-controlled practices, there’s now more legal basis for criminalizing religion that’s been “unapproved”.

Critics are already pointing out it constitutes a further severe crackdown on freedom of religion and worship. One large ‘house church’ leader in Beijing commented to US-funded VOA News, “This decree goes against our religious beliefs, and the separation of politics and religion.” The representative said additionally, “There will be a further narrowing of religious freedom and more severe crackdowns on believers.”

It also further tightens oversight of official government-sanctioned Catholic communities in the country.

Below is the relevant section from the document…

Catholic bishops are to be approved and consecrated by the Bishops Conference of Catholic Church in China. The Chinese Patriotic Catholic Association and Bishops Conference of Catholic Church in China shall complete a form for recording Catholic bishops within 20 days of consecrating them, send it to the State Bureau of Religious Affairs for filing, and submit the following materials:

  1. Copies of the bishop’s household registration booklet and resident identity card.
  2. An explanation of the circumstances by which the provincial, autonomous region, or directly governed municipality religious group democratically selected that bishop;
  3. The approval documents from the Bishops Conference of Catholic Church in China;
  4. An explanation of their consecration by the bishop that presided over it.

* * *

According to VOA, the new decree is related to a recent push to force various religious communities into integrating official CCP propaganda and history into their religious teaching curriculum: “The issuance of the decree coincides with a push by the government-controlled national religious associations of Protestantism, Catholicism, Taoism, Buddhism and Islam to require all believers to study topics such as the histories of the CCP, the People’s Republic of China and socialism to mark the 100th anniversary of the CCP in July.”

END
CHINA/PORT OF QINGDAO//SAUDI ARABIA
Two areas of concern this morning:
1) A bulk carrier smashes into a Suezmax tanker off China’s Qingdao coast.
2) Unconfirmed reports of an attack of the Saudi Red sea port of Yanbu
(zerohedge)

Bulk Carrier Smashes Into Suezmax Tanker Off China’s Top Refining Port

 
TUESDAY, APR 27, 2021 – 09:15 AM

So far, an eventful Tuesday morning of maritime incidents around the world.

First, starting with “unconfirmed reports” that an oil tanker, possibly named “NCC Dammam,” has been attacked off the Saudi Red Sea port of Yanbu. The next incident is in the waters off China’s largest crude-receiving terminal, where a bulk carrier has struck a Liberia-flagged Suezmax tanker resulting in an oil spill. 

China’s Shandong Maritime Safety Administration said A Symphony, a Suezmax tanker carrying approximately one million barrels of crude oil in the Yellow Sea, was struck by a bulk carrier, causing it to spill crude. 

The ship’s manager told Bloomberg that all A Symphony’s crew had been accounted for and no injuries. As for the oil spill, local environmental disaster response teams have been dispatched to contain the spill and clean up. Vessels have been instructed not to sail within ten nautical miles of the incident. 

Refinitiv shipping data shows the incident occurred off the Port of Qingdao, a seaport on the Yellow Sea in the vicinity of Qingdao, Shandong Province, China. The port is the hub of the Shandong province’s private refiners, also known as teapots, and accounts for 25% of the country’s total refining capacity. 

Refinitiv data also shows the ship is fully loaded with crude and was headed to Qingdao. Though data now shows the vessel is moored off the coast. 

According to Marine Traffic, here’s a video playback of the incident when the bulk carrier smashed into A Symphony.

Suezmax Daily posts alleged pictures of the badly damaged oil tanker. 

“Reports of the A Symphony #Suezmax having a breach of double hull outside Qingdao. Info is circulating fast so checking the validity.” 

4/EUROPEAN AFFAIRS

EU/

 

 

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE/THE WEST

Getting explosive!!

(zerohedge)

Moscow & Kiev Engage In Tit-For-Tat Diplomatic Expulsions Despite Troop Draw Down

 
TUESDAY, APR 27, 2021 – 09:50 AM

Last week’s Russian troop draw down from Crimea and near the border with Ukraine was “welcomed” by Kiev officials, however the diplomatic war continues. 

On Tuesday Ukraine’s foreign ministry declared a Russian diplomat in the city of Odessa persona non grata, giving the chief of consul there just days to leave the country. Ukraine says the move is in response to Russia’s own expulsion of a Ukrainian diplomat on Monday. This latest spat comes after a wave of tit-for-tat expulsions this month.

“In response, the Ukrainian Foreign Ministry declares Russia’s consul general in Odessa persona non grata. He must leave Ukraine until the end of day on April 30, 2021,” the Ukraine Foreign Ministry statement reads.

 

Image via NPR

It underscored Ukraine is strongly protesting the Kremlin’s initial move, rejecting “accusations that the Ukrainian diplomat was involved in activities incompatible with his diplomatic status.”

Both sides are vowing more expulsions to come on the principle of reciprocity and amid vague accusations of spying

The move came after Ukraine last week expelled a Russian diplomat in response to Moscow’s order for a Ukrainian consul in Russia’s second city Saint Petersburg to leave the country.

According to Russia’s security agency, the consul was trying to obtain sensitive information from a Russian national.

This diplomatic battle is further seeping into other Eastern European countries, predictably with NATO and NATO-friendly countries expressing “solidarity” with others by booting Russian officials.

The Moscow Times reviews of the escalating situation:

Romania on Monday said it was removing a Russian diplomat in solidarity with the Czech Republic, which recently ordered out 18 Russian embassy staff over a deadly explosion at an ammunition depot in 2014.

Russia earlier Monday expelled an Italian naval attache responding to a similar move by Rome last month in the fallout of a spying scandal.

Meanwhile in Italy…

All of this strongly suggests the crisis centered in eastern Ukraine is far from over, and that it’s entirely possible Russia could once again respond to heightened fighting in war-torn Donbass by a troop build-up near the border, putting it on collision course with the US and NATO.

end

IRAN/USA

This goes to show that the Revolutionary Guard is controlling things and not their foreign ministry:

Pentagon reveals a 3 hr long swarming incident of USA vessels two weeks ago

(zero hedge)

Pentagon Reveals 3-Hour Long IRGC “Swarming” Incident Of US Vessels In Gulf

 
MONDAY, APR 26, 2021 – 06:40 PM

US Navy officials have revealed to The Wall Street Journal that a pair of Coast Guard ships were recently “swarmed” by Islamic Revolutionary Guard Corps (IRGC) fast boats in the Persian Gulf earlier this month as they conducted patrols in international waters.

The report says “The incident occurred April 2, just as the U.S. and Iran announced they would conduct negotiations toward renewing the 2015 multilateral nuclear accord.” It was considered by the Pentagon to be a major incident (unlike the more frequent, minor exchange of “warnings” between rival military vessels in the region) given the IRGC boats encircled and “buzzed” the US vessels for up to three hours.  

A US Navy spokesperson condemned the “unsafe and unprofessional maneuvers” and underscored the Iranian side failed to back off after multiple radio warning attempts communicated. 

It’s rare that such an incident occurred with US Coast Guard ships… naturally we wonder what United States Coast Guard ships were doing so far away from… the US coast.

The US Navy apparently provided a photo of the incident in progress…

The incident is recounted in further detail by the WSJ as follows:

U.S. Navy officials confirmed that three fast attack crafts and one ship known as Harth 55, a 180-foot, twin-hulled support vessel, swarmed the two Coast Guard ships while they were patrolling international waters in the southern portion of the Persian Gulf.

The larger vessel repeatedly crossed in front of the bows of the two U.S. vessels, the Monomoy and the Wrangell, coming as close as 70 yards away, officials said. That forced the Wrangell to have to make defensive maneuvers to avoid collision, Navy officials said.

The Harth 55 is perhaps the most distinctive somewhat recent addition to Iran’s Navy, considered a high-speed vessel capable of carrying a helicopter and up to 100 troops.

The timing of the public disclosure of this “new” swarming event revelation is interesting given it comes a day after leaked audio of Iranian Foreign Minister Javad Zarif surfaced. In it he candidly admits that the IRGC often overrides government decisions, even suggesting the late IRGC Quds Force chief Gen. Qassem Soleimani tried to sabotage Iran’s seeking to restore the JCPOA nuclear deal.

Could the IRGC’s April 2 swarming event in the Gulf (just as the Vienna talks were about to get started) have been part of an attempt of hardliners leading the military establishment to derail attempts of ‘moderates’ at engagement with the US? 

END

 

6.Global Issues

CORONAVIRUS UPDATE

The White house will share millions of unwanted AZ jabs with the developing world

(zerohedge)

White House Will “Share” Millions Of Unwanted AstraZeneca Jabs With Developing World

 
MONDAY, APR 26, 2021 – 06:00 PM

While the EU sues AstraZeneca for failing to honor its vaccine delivery commitments, Washington is using its wealth of AstraZeneca jabs to make a generous donation to those economies that are less fortunate than its own.

Of course, the US and de facto international vaccine czar Bill Gates are largely responsible for policy decisions that denied a “people’s vaccine” – an open-source project that would make vaccine development free to all nations without enriching drug giants like Pfizer, J&J and Moderna. But in an effort to appear magnanimous, the White House has reportedly told the Associated Press that it plans to give away its entire stock of AstraZeneca jabs, just as soon as they are cleared by US regulators in a federal safety review.

As many as 60M doses will be exported in the coming months to countries around the world.

The announcement, which follows a safety scandal in Europe involving rare but deadly blood clots in patients with low platelet counts, adds to the pledge of 1 million doses to Mexico and Canada. Polls show demand for J&J vaccines in the US has tumbled following the safety scare earlier this month, and given that the AstraZeneca jabs share the same suspect adenovirus platform, it’s fair to assume there won’t be much demand for the AstraZeneca jabs when/if they’re approved in the US.

In fact, the US vaccine rollout has continued to slow over the past week, leaving some US states with a surplus of unused vaccines – and this is even before the J&J jab has come into widespread use.

About 10 million doses of AstraZeneca vaccine have been produced but have yet to pass review by the FDA to “meet its expectations for product quality,” White House COVID-19 coordinator Jeff Zients.

“Given the strong portfolio of vaccines that the U.S. already has and that have been authorized by the FDA, and given that the AstraZeneca vaccine is not authorized for use in the U.S., we do not need to use the AstraZeneca vaccine here during the next several months,” Zients said. “Therefore the US is looking at options to share the AstraZeneca doses with other countries as they become available.”

Zients added that the US’s “gold standard” approval process could be finished in the coming weeks. About 50M more doses are in various stages of production and could be available to ship in May and June pending FDA sign-off.

As of Monday, more than 1 billion coronavirus vaccine doses have been distributed around the world. The US has yet to finalize where the AstraZeneca doses will go, Zients said. Neighbors Mexico and Canada have asked the Biden administration to share more doses, while dozens of other countries are so desperate for more supplies of vaccines (despite the safety risks that, as the WHO has noted again and again, are far outweighed by the societal benefits, at least in theory) they’re fighting a battle against patent protections at the WTO.

 
end

 

ST VINCENT
The volcanic eruption at St Vincent will probably cut its GDP in half
(zerohedge)

“Apocalyptic” St. Vincent Eruption May Halve GDP 

 
MONDAY, APR 26, 2021 – 08:20 PM

There’s no doubt the Caribbean island of St Vincent is experiencing a humanitarian crisis as chronic food and water shortages develop amid ongoing volcanic eruptions at the northern part of the island. Volcanic ash blankets the island and has heavily impacted its agricultural economy. 

According to Bloomberg, St. Vincent and the Grenadines could experience a halving of gross domestic product due to the near-continuous showering of ash across the island since April 9.

“The damage on the north of the island is bordering on apocalyptic,” Finance Minister Camillo Gonsalves told Bloomberg in a telephone interview. “The country is not recognizable as a Caribbean island in the north of the country.”

 Before And After 

Before And After 

La Soufriere volcano, located in the northern part of the island, has erupted numerous times in the last couple of weeks. At least 20,000 people have been displaced, or about 19% of the island’s population. Much of the economic devastation is situated in the country’s farm belt where agriculture represents about 15% of the economy and is the largest employer. 

The Eastern Caribbean island is one of the world’s top producers of arrowroot and other exotic fruits, vegetables and root crops. Bananas are another huge crop for the country. 

Such reliance on an agriculture economy is proving to be disastrous following La Soufriere’s volcanic eruption. 

Preliminary estimates show the farmland near the volcano wiped out 100% of the vegetable crop, 90% of tree crops — like mangoes – and 80% of root crops.

“This means, essentially, that agriculture has been wiped out on the island,” Gonsalves said.

Tourism has also become an integral part of the island’s economy. Even before the violent eruptions, tourism and travel were down due to the virus pandemic. 

Scientists don’t know when the dangerously active volcano will stop erupting. In 1979, La Soufriere erupted for four months. In 1902, the eruption last about one year. 

“The true economic toll of La Soufriere remains unclear, but Gonsalves estimates the volcano caused $150 million in infrastructure damage and $150 million in agriculture and housing losses. In addition, it will require $20 million to $30 million to clean up the islands and about $15 million per month to feed and house evacuees,” Bloomberg said. 

“The longer people have to stay in shelters and the longer it takes for the volcano to stop erupting, the more precarious our financial situation will be,” he said.

St Vincent has the third-highest debt-to-GDP at 81% among any other Caribbean nation and faces at least a halving of its economy this year. 

“Undoubtedly, our debt is going to increase as we try to rebuild and recover from this disaster,” Gonsalves said. “We need our friends to stand by us at this time.”

END

GLOBAL INFLATION

The Bloomberg Agric Spot Index is on rise…

(courtesy Bloomberg)

Why Global Inflation Is About To Go Into Overdrive

TUESDAY, APR 27, 2021 – 05:45 AM

If you think inflation is already blistering hot –  as most companies and survey respondents clearly do – and the worst case been largely priced in, with little inflationary upside left, think again.

As Bloomberg notes, last week saw the Bloomberg Agriculture Spot Index rise by the most in almost nine years, to extend the stellar rally seen since last August.

Due to the lag between ag costs and finished food prices, the latter are about to soar. And since food is a large component of CPI baskets in Asia, Bloomberg warns that “this large inflationary impulse in the region that houses more than half the world’s population should result in higher wage costs in the factory base of the world.As CPI and PPI rise in Asia, it will feed through globally in the months ahead.”

Think “Arab Spring” (which sparked a domino effect of revolutions in North Africa and the Middle East due to soaring food prices) only in Asia this time… and on steroids. And then read what Albert Edwards wrote in December when he explained why he is “Starting To Panic About Soaring Food Prices.

end

7. OIL ISSUES

EU admits that it cannot go to net zero emissions

(Slav/OilPrice.com)

EU Admits It Can’t Go Net-Zero Without Natural Gas

 
TUESDAY, APR 27, 2021 – 05:00 AM

Authored by Irina Slav via OilPrice.com,

Last week saw some much-needed good news for natural gas. The European Union signaled that it would include natural gas in its energy plans for the future, emissions and all. The not-so-good news is that speaking of emissions, the EU might oblige suppliers to minimize these as much as is possible.

In the early days of the rush to cut emissions, natural gas was hailed as what many called a bridge fuel, the bridge being between fossil fuels and renewable energy. Then, as the rush accelerated, the bridge-fuel status of natural gas began to be questioned, increasingly loudly.

While a lower emitter than coal or oil, gas was still an emitter, and many of the proponents of a net zero energy world became increasingly radical with the help of statistics that showed, for example, that U.S. emissions did not decline with the replacement of coal power plants with gas-fired plants because the output of these gas-fired plants—and their numbers—increased.

Gradually, gas became the third focal point of emissions-cutting efforts, almost on par with coal and oil. This is why the European Union’s decision to include natural gas in its brand new EU Taxonomy Climate Delegated Act. The weird-sounding document basically spells out what is green and what isn’t in a list for businesses and investors to peruse with a view to helping the EU along with its plans to become a net-zero emitter by 2050.

The piece of legislation, according to the EU, “introduces clear performance criteria for determining which economic activities make a substantial contribution to the Green Deal objectives. These criteria create a common language for businesses and investors, allowing them to communicate about green activities with increased credibility and helping them to navigate the transition already under way.”

While gas was not included in the list of green economic activities, the EU said it would be included in a separate document treating—and this is the important part—transitional activities. Put simply, the EU legislation will restore natural gas to its bridge-fuel status.

This is, in essence, an admission that it won’t be that easy for the EU to wean itself off fossil fuels completely. It is also a confirmation of what the vice president of the EU and person in charge of the Green Deal, Frans Timmermans, said earlier this year about gas and other fossil fuels.

“Where, and as long as, clean energy cannot yet be deployed on the scale needed, fossil gas may still play a role in the transition from coal to zero emission electricity,” Timmermans said in March.

“But I want to be crystal clear with you—fossil fuels have no viable future. That also goes for fossil gas, in the longer run.”

Some would argue that natural gas and almost certainly nuclear power have a pretty bright long-term future in Europe because putting all your energy eggs in the renewable energy basket when you’re electrifying the economies of a whole continent is a pretty risky business. Yet, the EU seems determined to achieve a net-zero status whatever it takes. And this is where the bad news for gas producers comes.

The case of French Engie refusing a cargo of U.S. LNG because of the high carbon footprint of its extraction has now become notorious as an illustration of the EU’s priorities. The bloc may not get to net-zero without gas, but it is highly likely that it will require the gas it uses to be as clean as possible. Methane leak elimination and emission reduction at the liquefaction terminals are just some things that natural gas producers may need to familiarize themselves with if they want to sell to the EU.

The world leader in LNG exports, Qatar is already working on it. When the country made the final investment decision on a 40-percent capacity increase at the world’s biggest LNG project, it also said it would invest in a carbon capture and sequestration system at the site, to lower its LNG’s carbon footprint.

Traditionally, buyers have looked at the quality and the price of commodities—and all other goods, really—to make a decision to buy. Now, the quality aspect has gained a new and very important detail when it comes to energy commodities. Their greenhouse gas footprint is on its way to becoming the single most important factor for some buyers.

For now, Europe is the only one with a comprehensive emissions strategy, but it may not remain the only one for long. The Biden administration has also announced pretty ambitious emission-related goals, and they are bound to affect natural gas consumption and exports. Asian buyers are also becoming increasingly emission-conscious and requiring proof of cleanliness for the gas they buy. In other words, gas may have retained its bridge-fuel status in the energy transition but using it to stay in the race for as long as possible will require a lot of emissions-cutting efforts on the part of producers.

8 EMERGING MARKET ISSUES

INDIA//CORONAVIRUS UPDATE/VACCINE UPDATE

Shocking Video Shows Body Falling Out Of Indian Ambulance As COVID Crisis Worsens

 
TUESDAY, APR 27, 2021 – 12:40 PM

India’s devastating second wave of COVID-19 continued to smolder overnight as Indian health officials reported more than 300K new cases for a sixth straight day (though the latest number is less than a record 353K cases reported Monday). India’s army pledged to provide urgent medical aid to help battle the staggering spike in new infections, yet oxygen supplies and beds remain low at hospitals across the country, but particularly in the capital city of Delhi, and other large population centers. Across India, another 2,771 COVID-19 deaths were reported, bringing the national death toll to 197,894.

These latest numbers bring India’s total to 3.8M new COVID-19 cases over the last two weeks. Citi analysts pointed out that states accounting for roughly 50% of India’s GDP have announced weekend lockdowns. As Australia joins a growing list of nations halting all commercial travel from India, analysts see growing  downside risks to their 1QFY22 real GDP forecast (1.6% QoQ, saar).

Every day, it seems, there’s some new viral story emerging out of India’s COVID-19-induced misery. Last week, westerners were warned about crematoriums across India working overtime due to the surging deaths. Well, on Tuesday, video showing a patient’s body falling out of the back of an ambulance went viral on western social media networks.

The incident, which took place on Friday, has sparked an uproar in the central state of Madhya Pradesh. In the video, the ambulance can be seen leaving the gates, then swerving a corner. A side panel falls open and a shrouded body falls out onto the road. Family members can then be heard yelling in protest.

A medical official told reporters that the ambulance was old and had been donated by an unspecified NGO.

As western nations including the US, Germany and others rush to send aid to India, Gilead Sciences announced Tuesday that it would give India at least 450K vials of its COVID-19 drug remdesivir and donate active pharmaceutical ingredients to boost production, as infections surge in the country. India has an official tally of 17.31 million infections and 195,123 deaths, health ministry data shows, although health experts say the figures likely run higher.

Fears that India’s latest outbreak might spread across Asia intensified as Thailand, another closely watched country which had been lauded for its success in battling the virus, reported 15 new deaths on Tuesday, a new daily high, as its third-wave of the outbreak continued to intensify. The health ministry also reported 2,179 more cases. Thailand for months had suppressed the virus but a new outbreak emerged several weeks ago.

Finally, after a third state of emergency measure was ordered across Tokyo, Osaka and Kyodo, Japan’s self-defense force is planning to open a mass vaccination center in Tokyo next month. The Defense Ministry tweeted it had been asked by PM Yoshihide Suga to set up the Tokyo vaccination centre by May 24 with plans for it to operate for three months. The facility will service residents in the capital and the surrounding prefectures of Saitama, Chiba, and Kanagawa.

While US equity averages charge to new record highs, the resurgence in COVID-19 in India and Japan has weighed on equity benchmarks across the Continent. Japan has been one of the worst performers among major global equity markets in recent weeks. The Tokyo Stock Exchange’s blue-chip Nikkei Stock Average index has fallen over 2% in the last week and remains flat compared to a month ago. The broader Topix index has weakened nearly 3% in the past month.

 
END

 

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY  morning 7:30 AM….

Euro/USA 1.2085 UP .0006 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES /ALL RED  

USA/ YEN 108.24 UP 0.032 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3917  UP   0.0023  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2402 UP .0006 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  TUESDAY morning in Europe, the Euro ROSE  BY 6 basis points, trading now ABOVE the important 1.08 level RISING to 1.2085 Last night Shanghai COMPOSITE UP 1.45 PTS OR 0.04% 

//Hang Sang CLOSED DOWN 11.29 PTS OR 0.04%

/AUSTRALIA CLOSED DOWN 0.17% // EUROPEAN BOURSES OPENED ALL RED 

 

Trading from Europe and Asia

EUROPEAN BOURSES CLOSED ALL RED 

 

2/ CHINESE BOURSES / :Hang Sang DOWN 11.29 PTS OR 0.04%  

/SHANGHAI CLOSED  UP 1.45 PTS OR 0.04% 

Australia BOURSE CLOSED DOWN 0.17%  

Nikkei (Japan) CLOSED DOWN 134.34  POINTS OR 0.46%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1780.65

silver:$26.22-

Early TUESDAY morning USA 10 year bond yr: 1.585% !!! UP 1 IN POINTS from MONDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.2600 UP 1  IN BASIS POINTS from MONDAY night.

USA dollar index early TUESDAY morning: 90.87 UP 7 CENT(S) from MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  TUESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.42% UP 2  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.075%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.42%//  UP 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.83 UP 3 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 41 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –.25% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.05% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

Closing currency crosses for TUESDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.2078   DOWN    .0001 or 1 basis points

USA/Japan: 108.53  UP .335 OR YEN DOWN 33  basis points/

Great Britain/USA 1.3917 UP .0022 POUND UP 22  BASIS POINTS)

Canadian dollar UP 12 basis points to 1.2397

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (UP).. 6.4831

THE USA/YUAN OFFSHORE:  6.750  (YUAN UP)..6.4793

TURKISH LIRA:  8.22  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.075%

Your closing 10 yr US bond yield UP 2 IN basis points from MONDAY at 1.583 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.270 UP 2 in basis points on the day

Your closing USA dollar index, 90.91 UP 10  CENT(S) ON THE DAY/1.00 PM/

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for TUESDAY: 12:00 PM

London: CLOSED DOWN 31.86 PTS OR 0.46% 

 

German Dax :  CLOSED DOWN 49.90 PTS OR 0.33% 

 

Paris Cac CLOSED DOWN 11,57PTS OR 0.18% 

 

Spain IBEX CLOSED UP  33.50  PTS OR  0.38%  

 

Italian MIB: CLOSED DOWN 68.59 PTS OR 0.28% 

 

WTI Oil price; 62.31 12:00  PM  EST

Brent Oil: 65.90 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    74.82  THE CROSS  LOWER BY 0.20 RUBLES/DOLLAR (RUBLE HIGHER BY 20 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.25 FOR THE 10 YR BOND 1.00 PM EST EST

END

This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM : 63.20//

BRENT :  66.69

USA 10 YR BOND YIELD: … 1.619..up 4 basis points…

USA 30 YR BOND YIELD: 2.299 up 5 basis points..

EURO/USA 1.2089 (DOWN 9   BASIS POINTS)

USA/JAPANESE YEN:108.75 UP .545 (YEN DOWN 55 BASIS POINTS/..

USA DOLLAR INDEX: 90.89 up 8 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3906 UP 12  POINTS

the Turkish lira close: 8.22

the Russian rouble 74.91   up 0.11 Roubles against the uSA dollar. (up 11 BASIS POINTS)

Canadian dollar:  1.2401  UP  5 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.25%

The Dow closed up 3.36 POINTS OR 0.01%

NASDAQ closed down 48.56 POINTS OR 0.34%


VOLATILITY INDEX:  17.51 CLOSED down 0.13

LIBOR 3 MONTH DURATION: 0.184%//libor dropping like a stone

USA trading day in Graph Form

Ether Hits Record Highs As Bonds, Big-Tech, & Bullion Sink Ahead Of Fed

 
TUESDAY, APR 27, 2021 – 04:01 PM

Crypto was higher on the day (as was the dollar and commodities) but for big-tech stocks, bonds, and bullion it was “sell, Mortimer, sell”…

The cash open sparked chaos in Small Caps and a dump in big-tech stocks. Small Caps were puked after the European close. S&P and the Dow manage to scramble back into the green (dumping into the red in the last 5 seconds), Small Caps were best and Big-Tech Nasdaq 100 the biggest loser…

Here’s the chaos at the cash open in Small Caps…

And here’s the chaos at the cash close in the S&P…

CCC-rated junk bonds plunged to their lowest spread since 2008, below 500bps…

Source: Bloomberg

Treasuries were sold ahead of tomorrow’s FOMC…

Source: Bloomberg

With 10Y back to recent resistance…

Source: Bloomberg

Notably, the 10Y yield has held its 50DMA support for 4 straight days…

Source: Bloomberg

The Dollar managed gains today…

Source: Bloomberg

ETH jumped to a record high today…

Source: Bloomberg

ETH broke out relative to BTC too…

Source: Bloomberg

Bitcoin also rallied, back to $55,000 – before last week’s plunge…

Source: Bloomberg

Commodities were up for the 11th straight day…

Source: Bloomberg

Gold dipped ahead of The Fed…

But, Palladium rose to a new record high…

Source: Bloomberg

Copper continued to surge back near record highs…

Source: Bloomberg

WTI rose back above $63 ahead of tonight’s API report (after the OPEC+/JMMC ‘no change’ report)…

Finally, in case you were thinking of dipping your toe back in the warming waters of monetary exuberance and buying equities, it is worth considering that stock investors stand to receive too little return for the level of risk they take, according to Mike Wilson, chief U.S. equity strategist at Morgan Stanley.

Source: Bloomberg

Wilson drew the conclusion in a report Monday that compared an earnings-based yield on the S&P 500 Index with an inflation gauge: the 10-year breakeven rate, or the gap in yield between fixed-rate and inflation-indexed Treasury notes. The resulting equity risk premium narrowed this month to 2.06 percentage points, the smallest since May 2000, according to data compiled by Bloomberg. “There’s low probability that it will” fall further, Wilson wrote.

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//THIS AFTERNOON

 
ii) Market data
Amazing!
 

US Consumer Confidence Explodes To Highest Since Feb 2020 But ‘Hope’ Hype Stalls

 
TUESDAY, APR 27, 2021 – 10:06 AM

After surging in March, analysts expected The Conference Board consumer confidence headline print to surge even higher in April and it did… massively. Against expectations of a rise from 109.7 to 113.0, the Conf Board confidence exploded to 121.7.

Source: Bloomberg

The driver of the surge in confidence is a blowout in “current conditions”, surging from 110.1 to 139.6.

Under the hood, the labor market appears to be resurgent…

Source: Bloomberg

Additionally, the lower income cohorts saw the biggest surge in confidence…

Source: Bloomberg

Finally, we note perhaps the most interesting aspect of the report is the fact that ‘hope’ was flat as the “expectations” index printed 109.8 vs 109.6 in March.

iii) Important USA Economic Stories

No question about this:  Biden’s Stimulus checks are wrecking the labour pool

(zerohedge)

Biden’s Stimulus Checks “Wreck Labor Pool” As People Get Paid To Stay Home 

 
MONDAY, APR 26, 2021 – 09:00 PM

There are new concerns that President Biden’s $1.9 trillion coronavirus stimulus package is already harming the labor market recovery. 

While job openings and postings are increasing, there is an issue with the number of applications as labor participation currently stands at 61.4%, with an unemployment rate of 6.2%. People are not applying for jobs as they should be as they collect stimulus checks and enjoy a work-free lifestyle, all on the backs of taxpayers.

There are many jobs available in manufacturing, trade and transportation, logistics, and the professional sector. But employers have difficulty sourcing workers. 

The latest comments from the Federal Reserve Bank of Kansas City provide a chilling insight this month into the labor shortage developing at manufacturing firms across Denver, Oklahoma City, and Omaha: 

“Stimulus and increased unemployment money are wrecking the labor pool. Lower-level employees are quitting to make just as much not working.”

So, lower-level employees are making more money collecting stimulus checks and other handouts under the Biden administration. This was very similar when former President Trump dished out helicopter money during the early days of the pandemic. 

What this creates are more bottlenecks for the supply chain as labor becomes scarce. 

“It is very difficult to handle the increased business with supply chain issues across all materials and finding anyone who wants to work. The federal government has incentivized people to stay home and not be productive.”

Other employers report: 

“Unemployed workers have no incentive to return to work given the COVID bonus payments.”

What this means is that entry-level pay will have to increase to get low-level workers off the couch. This will create more cost pressures for companies that will either be absorbed or pass onto the consumer. 

The Biden administration effectively destroys the labor market, resulting in significant repercussions for the real economy, such as a labor shortage that could stall the recovery. 

In particular, a McDonald’s in Tampa, Florida, offered $50 last week to anyone who would show up to a job interview. 

WSJ said labor shortages in the food industry affect nationwide and independent eateries as they can’t source enough workers for the front and backend. Some fast-food chains are offering signing bonuses. Chipotle Mexican Grill Inc. is offering free college who work at least 15 hours a week. Taco Bell is giving paid family leave to company store managers. Other operators are boosting pay. 

But even with all the perks, a labor crunch affects many businesses in various industries to retain workers as the stimulus money adds a barrier to bring back low-level workers. 

JPMorgan recently warned clients of a massive labor shortage in the US. 

However, JPMorgan did not expand on what may be causing this unprecedented schism within the economy – after all, for normalcy to return, people must not only be employed but must want to be employed – it did suggest that the “robust” government stimulus may be keeping workers on the sidelines. 

In a letter sent to the White House Friday, WSJ explains Democrats on Capitol Hill are pushing for the Biden administration to make the jobless benefits permanent, the onset to universal basic income. 

While politicians on Capitol Hill have cheered about people’s QE since the pandemic began, the consequences of paying low-level workers more to sit at home than to work could derail the economic recovery.

iv) Swamp commentaries

John Kerry denies allegations that he tipped off Iran about Israeli attacks

(EpochTimes)

John Kerry Denies Allegations That He Tipped Off Iran About Israeli Attacks

 
TUESDAY, APR 27, 2021 – 10:15 AM

Authored by Ivan Pentchoukov via The Epoch Times,

U.S. Special Climate Envoy John Kerry on Monday denied allegations stemming from leaked audio that suggested he disclosed the number of Israeli attacks on Iranian targets to Iranian Foreign Minister Mohammad Javad Zarif.

“I can tell you that this story and these allegations are unequivocally false. This never happened – either when I was Secretary of State or since,” Kerry wrote on Twitter.

Kerry’s response was attached to a Twitter message by a Washington Post reporter who cited a State Department spokesperson saying that the Israeli attacks had already been disclosed by Israel itself. The Post reporter further shared a September 2018 Reuters story in which an Israeli official said that the U.S. ally had carried out 200 attacks against Iranian targets in Syria.

It is unclear if the alleged disclosure by Kerry came before or after the disclosure by Israel.

Prominent Republicans responded to the news of the leaked audio with calls for Kerry to step down or be fired.

“The allegations involving John Kerry are deeply disturbing and must be explained immediately,” Sen. Rick Scott (R-Fla.) said in a statement.

“Until we have clarity and know the truth, President Biden must remove John Kerry from all access to and briefings on national security intelligence. If these allegations are true, he must resign.”

“If this is true, it’s traitorous and Kerry needs to go,” Sen. Dan Sullivan (R-Alaska) wrote on Twitter.

“This is a criminal act and John Kerry must be immediately investigated and PROSECUTED,” Rep. Elise Stefanik (R-N.Y.) wrote on Twitter. “President Biden must immediately remove John Kerry from any government or advisory position.”

In the leaked audio, Zarif, Iran’s top diplomat, complains that the elite Revolutionary Guards had more influence in foreign affairs and the country’s nuclear dossier than him.

“I have never been able to tell a military commander to do something in order to aid diplomacy,” Zarif said.

Relations between pragmatist President Hassan Rouhani’s government and the Guards are important because the influence of the hardline paramilitary force is so great that it can disrupt any rapprochement with the West if it feels this would endanger its economic and political interests.

The Guard’s traditional skepticism about any cultivation of detente with Washington may become relevant if talks between Iran and world powers advance efforts to revive a 2015 nuclear deal that President Donald Trump exited three years ago.

Without disputing the audio’s authenticity, the foreign ministry spokesman on Monday said that the news channel only published excerpts of the seven-hour interview with the foreign minister.

END

v) King report/Courtesy of Chris Powell of GATA which includes the major swamp stories./ of the day

@NoahPollak: John Kerry was ratting out Israeli covert operations in Syria directly to the Iranian foreign minister. Let that sink in. Wow. [Buried in the 22nd paragraph of a 26 paragraph story!]

Iran’s Foreign Minister, in Leaked Tape, Says Revolutionary Guards Set Policies
Former Secretary of State John Kerry informed him that Israel had attacked Iranian interests in Syria at least 200 times, to his astonishment, Mr. Zarif said… [Kerry denies the allegation.]
https://www.nytimes.com/2021/04/25/world/asia/iran-suleimani-zarif.html

We cannot comprehend the fact the Kerry ratted out Israeli operations against Iran surrogates in Syria!  This is an enormous story that should be page 1, top of the news on all US outlets!!! Kerry should be fired ASAP and possibly prosecuted!  Why do Kerry and Team Obama love Iran so much?
Ex-State Dept spokeswoman @MorganOrtagus: If the @nytimes story is accurate, there should be an investigation into John Kerry’s security clearance

@SteveGuest: Sen. Ted Cruz: “If this tape is verified, it would signal catastrophic and disqualifying recklessness by Envoy Kerry to Foreign Minister Zarif that endangered the safety of Americans and our allies. And it would be consistent with his long pattern of empowering Iran’s regime.”

Durable Goods Orders for March were greatly disappointing.  The Street expected 2.3% m/m; orders increased only 0.5%.  Ex-Transports increased the expected 1.6%.  Nondefense, Ex-Air Orders grew 0.9%; 1.7% was expected.  Shipments grew 1.3%; 1.5% was consensus.

US companies plan price rises as inflation pressure build  [More transitory inflation, Jerome?]
Executives at Coca-Cola, Chipotle and equipment maker Whirlpool, in addition to family model behemoths Procter & Gamble and Kimberly-Clark, all instructed analysts in earnings calls final week that they have been making ready to lift costs to offset rising enter prices, notably of commodities…
https://digitpatrox.com/us-companies-plan-price-rises-as-inflation-pressure-builds/

@zerohedge: Goldman Financial Conditions index hits new record “easy” level
https://twitter.com/zerohedge/status/1386758527285346309
Fauci Flip-Flops Again: Outdoor COVID Infection Risk Is “Miniscule”
Dr. Fauci’s credibility has taken some severe hits, particularly in recent weeks. When Texas Governor Greg Abbott axed the state’s mask mandate and other COVID-related restrictions on businesses and people, Dr. Anthony Fauci called it “risky” and “potentially dangerous.” But no surge happened. Earlier this month Fauci struggled to explain how Texas defied his own predictions during an appearance on MSNBC, arguing at the time that there might be a “lag.” Three weeks later, there’s still no surge in cases in Texas.  Fauci also defended the “pause” in the rollout of the Johnson & Johnson vaccine, even though you’re more likely to die from general anesthesia than you are to get severe blood clots from the Johnson & Johnson vaccine…
https://www.zerohedge.com/covid-19/fauci-flip-flops-again-outdoor-covid-infection-risk-miniscule

@NikolovScience: The IDIOCY of mask wearing outside made the news today: A junior high-school girl runs 800 m in a competition while wearing a mask and faints/collapses at the finish line due to lack of oxygen or inability to dispose of CO2.  How bad have we degenerated?

Democrat-leaning states have lost House seats and Republican-leaning states have gained them…
Texas to gain 2 House seats while New York and California among the losers
https://www.foxnews.com/politics/texas-gain-house-seats-new-york-california-loser 

BOJ to Stand Pat with Economic Outlook in Focus: Decision Guide
The Bank of Japan is expected to keep monetary stimulus unchanged Tuesday with its economic forecasts likely to be the main focus of attention following the declaration of a renewed state of emergency …
https://www.bloomberg.com/news/articles/2021-04-25/boj-to-stand-pat-with-economic-outlook-in-focus-decision-guide

Apple, Retail Groups Continue Lobbying Congress on Chinese Slave Labor Bill
Apple has denied using forced labor in its supply chain, but The Post reported in November that Fierce Government Relations, the firm hired by Apple, met with congressional aides to try to soften language in the Uyghur bill… [Where is the outrage?  Where are the Wokesters?]
https://dailycaller.com/2021/04/24/apple-retail-groups-lobbying-chinese-slave-uyghur-labor-bill/

U.S. Population Over Last Decade Grew at Slowest Rate Since 1930s
With immigration leveling off and a declining birthrate, the United States may be entering an era of substantially lower population growth, demographers said.
https://www.nytimes.com/2021/04/26/us/us-census-numbers.html?smid=tw-share

US debt, Social Security and similar US Ponzi Schemes will blow up without beaucoup new entrants into the scheme that are needed to pay the due bills.  “Demographics is destiny.”

Rep. Liz Cheney not ruling out 2024 presidential run [Delusional hubris, 10% approval in home state of WY, finished in electoral politics for voting to impeach Trump and other faux pas] https://trib.al/J6QJqeb

Oscars viewership hits record low as Academy Awards squanders historic opportunity
The 93rd Academy Awards suffered a 13.75 million viewer drop-off from last year
https://www.foxnews.com/entertainment/oscars-ratings-record-low

Moment Colorado cops LAUGH about breaking arm and dislocating shoulder of dementia-suffering woman, 73, after she left Walmart without paying for $13 of groceries

  • Loveland Police Officers Austin Hopp and Daria Jalali arrested Karen Garner, 73, on June 26, 2020, after she left Walmart without paying $13-worth of items
  • Footage from Hopp’s body-camera shows him slamming Garner, who has dementia, to the ground, causing her to fracture her elbow and dislocate her arm

They were celebrating all while the 73-year-old woman was suffering in a jail cell, the photos reveal – disheveled and seeming to lose consciousness several times…
    Outrage over the clip was so intense that state prosecutors launched a criminal investigation into Hopp, Jalali and their supervisor on-scene supervising sergeant Metzler last week…
[Where is the national outrage and “mostly peaceful demonstrations” of this sickening brutality?]
https://www.dailymail.co.uk/news/article-9513533/Colorado-cops-filmed-laughing-bodycam-video-arrest-elderly-woman-dementia.html

@DailyMail: New York Times has said that it will retire the term ‘op-ed’ and replace it with ‘guest essay’
[Cuz most columns are now op-ed instead of news reporting?]

Climate ‘Emergency’? Not So Fast
We are both scientists who can attest that the research literature does not support the claim of a climate emergency. Nor will there be one. None of the lurid predictions — dangerously accelerating sea-level rise, increasingly extreme weather, more deadly forest fires, unprecedented warming, etc. — are any more accurate than the fire-and-brimstone sermons used to stoke fanaticism in medieval crusaders…
    So far, climate crusaders have refrained from vilifying water vapor and clouds, which make the largest contribution to greenhouse warming of the earth. Carbon dioxide, demonized as “carbon pollution,” is an improbable villain. Green plants use the energy of sunlight to manufacture sugar and other organic molecules of life from carbon dioxide and water molecules. A byproduct of photosynthesis is the oxygen of our atmosphere. Each human exhales about two pounds of the “pollutant” carbon dioxide every day…
Water vapor, and the clouds that condense from it, warm the earth’s surface at least four times more than does carbon dioxide. Paleoclimate data show little correlation between CO2 and climate, suggesting that the effects of CO2 are, in fact, marginal. Doubling CO2 concentrations alone should increase the earth’s surface temperature by about 1 C. Climate crusaders use computer models that include clouds, convective heat transfer in the atmosphere and oceans, and other factors to claim that “positive feedbacks” increase the predicted warming to 4.5 C or more. Supposedly, the direct consequences of any change are amplified. This would violate Le Chatelier’s principle that says “when a settled system is disturbed, it will adjust to diminish the change that has been made to it.”…
https://www.nationalreview.com/2021/04/climate-emergency-not-so-fast/

And now the good news: Only three more days to the NFL Draft! 

end

 

end

I WILL SEE  YOU WEDNESDAY NIGHT

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