GOLD PRICE CLOSED DOWN $4.60TO $2328.50

SILVER PRICE UP $0.11TO $27.32

Gold ACCESS CLOSED $2322.75

Silver ACCESS CLOSED: $27,33

The defense of $2300 gold is now upon us and surpassed. Next up $2400 gold//Silver’s next line is $28.42. Then $34.76

Bitcoin morning price:$66,094 DOWN 356 DOLLARS.

Bitcoin: afternoon price: $66,660 DOWN 912 dollars

Platinum price closing DOWN $9.10TO $914.65

Palladium price; UP $4.45 AT $1025.60

END

SHANGHAI GOLD PREMIUM 70 DOLLARS/COMEX GOLD

SHANGHAI GOLD…

…from the CME….

“As of Monday, April 1, 2024, CME Group settlement data is no longer accessible through ftp.cmegroup.com and has a delayed publication time of 12:00 a.m. CT on all cmegroup.com web pages. Learn about alternate ways to access the data in our FAQ.”

Now I retrieve the data after 1 am

I will now provide gold in Canadian dollars, British pounds and Euros

4: 15 PM ACCESS

*CANADIAN GOLD: $3173.71DOWN 23.97 CDN dollars per oz( * NEW ALL TIME HIGH 3,301.52 CDN DOLLARS PER OZ//APRIL 16 2024)

*BRITISH GOLD: 1865,79DOWN 23.82pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024

*EURO GOLD: 2170.30DOWN 20.20uros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)

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END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: APRIL 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,332.200000000 USD
INTENT DATE: 04/22/2024 DELIVERY DATE: 04/24/2024
FIRM ORG FIRM NAME ISSUED STOPPED

435 H SCOTIA CAPITAL 1
661 C JP MORGAN 10
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 18 2
905 C ADM 14
991 H CME 20

TOTAL: 33 33

JPMORGAN STOPPED (RECEIVED) 0/33CONTRACTS

FOR APRIL/2024

GOLD: NUMBER OF NOTICES FILED FOR APRIL/2024. CONTRACT: 33 NOTICES FOR 3300 OZ or 0.1026 TONNES

total notices so far: 16,213contracts for 1,621300 Oz (50.429 tonnes)

FOR APRIL:

SILVER NOTICES: 0 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 1626 for 8,130,000 oz

XXXXXXXXXXXXXXXXXX

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END

GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD DOWN $4.60

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :

NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 831..91 TONNES

INVENTORY RESTS AT 831.91 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP $0.11 AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 10.97 MILLION OZ INTO THE SLV/

// INVENTORY INCREASES T0 427,346 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 427.346MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A MEGA HUMONGOUS SIZED 5628 CONTRACTS TO 174,134 BUT STILL RAPIDLY CLOSING IN ON THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, DESPITE THE RAID AND THIS HUMONGOUS SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS IN PRICE OF $1.51 IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD HUGE LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN PANICKING SHORT COVERING BY OUR SPECS WITH THE HUGE PRICE LOSS IN PRICE. WE HAD A HUGE SIZED 1523 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 1523 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $1.51), AND WERE SUCCESSFUL IN KNOCKING MANY SILVER LONGS AS WE HAD A MEGA GIGANTIC SIZED LOSS OF 4286 CONTRACTS ON OUR TWO EXCHANGES WITH THE FALL IN PRICE OF $1.51

WE MUST HAVE HAD:

A HUGE SIZED 875 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 2.465 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S NIL OZ QUEUE JUMP //NEW STANDING REMAINS AT 8.185 MILLION OZ//

//NEW STANDING FOR SILVER IS THUS 8.185 MILLION OZ

WE HAD:

/ HUGE SIZED COMEX OI LOSS/ HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1523CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A STRONG 278 CONTRACTS //

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS FEB. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF APRIL

TOTAL CONTRACTS for 17 DAYS, total 26,812 contracts: OR 134.06 MILLION OZ (1577 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 134.06 MILLION OZ

LAST 23 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT: 94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

JAN 2022-DEC 2022

JAN 2022// 90.460 MILLION OZ

FEB 2022: 72.39 MILLION OZ//

MARCH 2022: 207.140 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT. 29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023/// 53.070 MILLION OZ //FINAL

FEB: 2023: 100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL 111035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV. 50.050 MILLION OZ

DEC. 66.140 MILLION OZ//

TOTAL 2023: 1,104.10 MILLION OZ/

JAN ’24 : 78.655 MILLION OZ//

FEB /2024 : 66.135 MILLION OZ./FINAL

MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.

APRIL: 134.06 MILLION OZ (THIS MONTH WILL PROBABLY BE A WHOPPER OF ISSUANCE OF EFPS)

RESULT: WE HAD A HUMONGOUS SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5628 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS EFP ISSUANCE CONTRACTS: 875 ISSUED FOR MAY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR APRIL. OF 2.465 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAYS’ 0 OZ QUEUE JUMP

//NEW TOTAL STANDING REMAINS AT 8.185 MILLION OZ

WE HAVE A MEGA GIGANTIC SIZED LOSS OF 4286 OI CONTRACTS ON THE TWO EXCHANGES WITH THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 875 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS

THE NEW TAS ISSUANCE MONDAY NIGHT (875 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

WE HAD 0 NOTICE(S) FILED TODAY FOR nil OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 5454 OI CONTRACTS TO 514,937 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 897 CONTRACTS

WE HAD A GOOD SIZED DECREASE IN COMEX OI (4557 CONTRACTS) WITH OUR HUGE $59.90 LOSS IN PRICE//MONDAY. THE FRBNY SUPPLIEDTHE NECESSARY SHORT PAPER TO WHACK GOLD’S PRICE. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR APRIL. AT 44.8615 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S TINY E.F.P JUMP TO LONDON OF 100OZ.(0.003TONNES)

NEW STANDING 50.637 TONNES// ALL OF THIS HAPPENED WITH OUR $59.90 LOSS IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED LOSS OF 2235 OI CONTRACTS (6.951 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3219 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 514,937

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2235 CONTRACTS WITH 5454 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 3219 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 2235 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 2000 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3219 CONTRACTS) ACCOMPANYING THE GOOD SIZED LOSS IN COMEX OI (5454 //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 2235 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR APRIL. AT 44.8615 TONNES FOLLOWED BY TODAY’S TINY 0.003TONNES EFP JUMP

//NEW STANDING 50.637 TONNES.

/ 3) HUGE LONG LIQUIDATION WITH THE LOSS IN PRICE.

// 4) GOOD SIZED COMEX OPEN INTEREST LOSS/ 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 2000 CONTRACTS/ HUGE SHORT COVERING BY OUR WRONG FOOTED SPECS WITH THE FED’S CONTINUAL RAID ON THE COMEX GOLD.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

APRIL

REPORT THIS AD

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL. :

TOTAL EFP CONTRACTS ISSUED: 67,470CONTRACTS OR 6, 747,000 OZ OR 209.86TONNES IN 17 TRADING DAY(S) AND THUS AVERAGING: 3968 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17TRADING DAY(S) IN TONNES 209.86TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 209.86/3550 x 100% TONNES 5.91% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

FEB : 171.24 TONNES ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:. 276.50 TONNES (STRONG AGAIN/

APRIL: 189..44 TONNES ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)

JUNE: 247.54 TONNES (FINAL)

JULY: 188.73 TONNES FINAL

AUGUST: 217.89 TONNES FINAL ISSUANCE.

SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC. 175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022 247.25 TONNES //FINAL

FEB: 196.04 TONNES//FINAL

MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)

MAY: 247.44 TONNES FINAL//

JUNE: 238.13 TONNES FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC: 185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR

JAN ’24: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 209.86 TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

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:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (APRIL), 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.”

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.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

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 MEGA-HUGE SIZED 5628 CONTRACTS OI TO 174,601 AND FURTHER FROM THE COMEX HIGH 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 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 875 CONTRACTS

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

MAY 875 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 875 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 5161 CONTRACTS AND ADD TO THE 875 E.FP. ISSUED

WE OBTAIN A MEGA HUMONGOUS SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 4753 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 21.430 MILLION OZ

OCCURRED WITH OUR $1.51 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY NIGHT

SHANGHAI CLOSED DOWN 22.62 PTS OR 0.74% //Hang Seng CLOSED UP 317,24PTS OR 1.92% / Nikkei CLOSED UP 113.55PTS OR 0.36% //Australia’s all ordinaries CLOSED UP0.45%///Chinese yuan (ONSHORE) closed DOWN 7.2468//OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2663 /Oil DOWN TO 81.50dollars per barrel for WTI and BRENT UP AT 86.54/ Stocks in Europe OPENED ALL GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 5454 CONTRACTS TO 514,937 WITH OUR HUGE LOSS IN PRICE OF $59.90 WITH RESPECT TO MONDAY TRADING. WE HAD HUMONGOUS TA.S. LIQUIDATION AS WELL AS SHORTS, DESPERATELY TRYING TO GET OUT OF THEIR NAKED SHORTS.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL..… THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A STRONG 3219 EFP CONTRACTS WERE ISSUED: : JUNE 3219 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3219 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 2235 CONTRACTS IN THAT 3219 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED LOSS OF 5454 COMEX CONTRACTS..AND THIS FAIR LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE LOSS IN PRICE OF $59.90 FRIDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR MONDAY NIGHT WAS A GOOD SIZED 2000 CONTRACTS. WE HAD 0 EX FOR RISK ISSUANCE. MOST OF THE TRADING AND SUPPLY OF CONTRACTS ON MONDAY WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)

THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: APRIL (50.637 TONNES) ( ACTIVE MONTH)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 24 MONTHS OF 2021-2023:

DEC 2021: 112.217 TONNES

NOV. 8.074 TONNES

OCT. 57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE: 72.289 TONNES

MAY 5.77 TONNES

APRIL 95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022 17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT. 38.1158 TONNES

OCT: 77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL YEAR 656.076 TONNES)

2023:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 75.676 tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

JAN ’24. 22.706 TONNES

FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 50.637TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL $59.90 //// AND WERE SUCCESSFUL IN KNOCKING MANY SPECULATOR LONGS AS WE HAD A FAIR SIZED LOSS OF 2235 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSSS IN PRICE 0F $59,90

WE HAD A HUMONGOUS T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING ALONG. THE T.A.S. ISSUED ON MONDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE LOST A TOTAL OI OF 4.1617 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR APRIL. (44.8615 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S TINY E.F.P.JUMP TO LONDONOF 100 OZ (0.003TONNES)//NEW STANDING; 50.637TONNES

NEW STANDING: 50.637TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $59.90

WE HAD REMOVED 897 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET LOSS ON THE TWO EXCHANGES 2235 CONTRACTS OR 223,500 OZ (6.951 TONNES)

confirmed volume MONDAY 279,533contracts//STRONG

//speculators have left the gold arena

APRIL 23/ INITIAL APRIL GOLD

/ /// THE APRIL 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	oz NIL .
Deposit to the Dealer* Inventory in oz*	nil oz
Deposits to the Customer* Inventory, in oz*	15,506.780 oz HSBC
No of oz served (contracts) today	33 notice(s) 3300 OZ 0.1026 TONNES
No of oz to be served (notices)	67 contracts 6700 OZ 0.2084ONNES
Total monthly oz gold served (contracts) so far this month	16,213 notices 1,621300 oz 50.429 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*	x

0 dealer deposits:

total dealer deposits: nil oz

total customer withdrawals: 0

we had total deposit of nil oz

NIL

Adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.

For the front month of APRIL we have an oi of 100 contracts having LOST 71 contracts. We had 70 contracts served on MONDAY, so we LOST 1 contracts or an additional 100oz (0.003 tonnes) will OT stand at the comex as they were EFP’d over to London to take delivery on that side of the pond.

MAY GAINED 39 CONTRACTS TO STAND AT 2159

JUNE DECREASED ITS OI BY 7283 CONTRACTS DOWN TO 408,971CONTRACTS.

JULY INCREASED ITS OI BY 1351 CONTRACTS UP 1351.

We had 33 contracts filed for today representing 3300 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 33 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account

To calculate the INITIAL total number of gold ounces standing for the APRIL. /2024. contract month, we take the total number of notices filed so far for the month (16,180 x 100 oz ), to which we add the difference between the open interest for the front month of APRIL. (100 CONTRACTS) minus the number of notices served upon today (33x 100 oz per contract( equals 1,628,1000 OZ OR 50.637 TONNES.

thus the INITIAL standings for gold for the APRIL. contract month: No of notices filed so far (16,213) x 100 oz + (100 {OI for the front month} minus the number of notices served upon today (33 x 100 oz which equals 1,628100 oz (50.637TONNES)

TOTAL COMEX GOLD STANDING FOR APRIL: 50.637 TONNES WHICH IS HUGE FOR THIS ACTIVE DELIVERY MONTH IN THE CALENDAR.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

total pledged gold: 1,599,812.623 49.76 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,585,422.823OZ

TOTAL REGISTERED GOLD 7,521,055.666 (233,93 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,066,367.153OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,921,234 oz (REG GOLD- PLEDGED GOLD) 184.175 tonnes/dropping like a stone

END

SILVER/COMEX

APRIL 23

INITIAL

//2024// THE APRIL 2024 SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	840,781,337oz cnt Delaware HSBC .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	1,197,105.800z ASAHI CNT
No of oz served today (contracts)	0 CONTRACT(S) (nil OZ)
No of oz to be served (notices)	11 contracts (55,000 oz)
Total monthly oz silver served (contracts)	1626 Contracts (8,130,000oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposit :nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 2 deposits customer account:

i) Into CNT 601,230,600oz

ii) Into ASAHI 595,875,200oz

total customer deposits 1,197,105.800oz

JPMorgan has a total silver weight: 130.170 million oz/292.775million or 44.52%

adjustment: 0

Comex withdrawals: 3

ii) Out of CNT 755,826.923oz

ii) Out of Delaware 4946.900 oz

iii) Out of HSBC 80,007.514 oz

total withdrawal 840,781.337 oz

TOTAL REGISTERED SILVER: 47.196MILLION OZ//.TOTAL REG + ELIGIBLE. 291.775million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF APRIL /2023 OI: 11 CONTRACTS HAVING LOST 1 CONTRACT(S).

WE HAD 1 CONTRACTSSERVED ON MONDAY, SO WE GAINED 0 CONTRACTS OR ADDITIONAL NIL OZ WILL STAND AT THE COMEX

MAY SAW A LOSS OF 13,848 CONTRACTS UP TO 52,475

JUNE SAW A LOSS OF 36 CONTRACTS FALLING TO 688

JULY SAW A GAIN OF 8185 CONTRACTS UP TO 97,729

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0for NIL oz

confirmed volume Friday: 114,158

CONFIRMED volume; ON MONDAY 151,085//HUGE

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 1626x 5,000 oz = 8,130,000 oz

to which we add the difference between the open interest for the front month of APRIL (11) and the number of notices served upon today 0x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the APRIL/2024 contract month: 1626 (notices served so far) x 5000 oz + OI for the front month of APRIL. (11 number of notices served upon today (0)x 500 oz of silver standing for the APRIL contract month equates to 8.185 MILLION OZ.

New total standing: 8.185 million oz.

There are 47.196 million oz of registered silver.

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

END

GLD AND SLV INVENTORY LEVELS//

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

APRIL 23 WITH GOLD DOWN $4.60 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD / INVENTORY RISES AT 831.91 TONNES

APRIL 19 WITH GOLD UP $15.00 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 4.32 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 831.91 TONNES

APRIL 18 WITH GOLD UP $11.30 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE WITHDRAWAL OF 2.59 TONNES OF GOLD INTO THE GLD/ INVENTORY FALLS AT 827.59 TONNES

APRIL 17 WITH GOLD DOWN $17.60 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 830;18 TONNES

APRIL 16 WITH GOLD UP $23.10 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 828.45 TONNES

APRIL 15 WITH GOLD UP $9.30 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE WITHDRAWAL OF 4.03 TONNES OF GOLD INTO THE GLD/ INVENTORY FALLS AT 826.72 TONNES

APRIL 12 WITH GOLD UP $2.80 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD/ INVENTORY RISESS AT 830.75 TONN

APRIL 10 WITH GOLD DOWN $14.60 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 828.71 TONNES

APRIL 9 WITH GOLD UP $11.35 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 827,85 TONNES

APRIL 8 WITH GOLD UP $7.10 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A WITHDRAWAL OF 6.02 TONNES OF GOLD INTO THE GLD/ INVENTORY REMAINS AT 826.41 TONNES

APRIL 5 WITH GOLD UP $38.65 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD/ INVENTORY REMAINS AT 832.45 TONNES

APRIL 4 WITH GOLD DOWN $3.35 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD/ INVENTORY REMAINS AT 830.73 TONNES

APRIL 3 WITH GOLD UP $33,85 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD // INVENTORY REMAINS AT 829.00 TONNES

APRIL 2 WITH GOLD UP $23.90 TODAY; HUG CHANGES IN GOLD INVENTORY AT THE GLD A WITH DRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD.:// INVENTORY REMAINS AT 829.00 TONNES

APRIL 1 WITH GOLD UP $18.70 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:// INVENTORY REMAINS AT 830.15 TONNES

MARCH 28 WITH GOLD UP $26.30 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:// INVENTORY REMAINS AT 830.15 TONNES

MARCH 27 WITH GOLD UP $15.00 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.18 TONNES OF GOLD FROM THE GLD// INVENTORY FALLS TO 830.15 TONNES

MARCH 26 WITH GOLD UP $1.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RISES TO 835.33 TONNES

MARCH 25 WITH GOLD UP $17.05 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RISES TO 838.50 TONNES

MARCH 22 WITH GOLD DOWN $23.75 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RISES TO 838.50 TONNES

GLD INVENTORY: 831.91 TONNES,

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

APRIL 23/WITH SILVER UP $0.11TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 2.194 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 416.376 MILLION OZ

APRIL 22/WITH SILVER DOWN $1.51 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 2.194 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 416.376 MILLION OZ

APRIL 19/WITH SILVER UP 42 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.657 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 418.570 MILLION OZ

APRIL 18/WITH SILVER DOWN $.04TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.977 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 422.227 MILLION OZ

APRIL 17/WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF .868 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 426/204 MILLION OZ

APRIL 16/WITH SILVER DOWN $0.46 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF NON EXISTENT SILVER// :SLV INVENTORY RESTS AT 427.072 MILLION OZ

APRIL 15/WITH SILVER UP $0.46 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV :SLV INVENTORY RESTS AT 433.929 MILLION OZ

APRIL 12/WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 4.069 MILLION OZ FROM THE SLV :SLV INVENTORY RESTS AT 433.929 MILLION OZ

APRIL 11/WITH SILVER UP $0.23 TODAY: STRANGE INDEED! HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.931 MILLION OZ :SLV INVENTORY RESTS AT 437.998 MILLION OZ

APRIL 10/WITH SILVER UP $0.04 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:SLV INVENTORY RESTS AT 441.929 MILLION OZ

APRIL 9/WITH SILVER UP $0.15 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.549 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 441.929 MILLION OZ

APRIL 8/WITH SILVER UP $0.33 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.320 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 441.328 MILLION OZ

APRIL 5/WITH SILVER UP $0.61 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.748 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 441.060 MILLION OZ

APRIL 4/WITH SILVER UP $0.20 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.671 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 437.312 MILLION OZ

APRIL 3/WITH SILVER UP $1.14 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.835 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 433.641 MILLION OZ

APRIL 2/WITH SILVER UP 84 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6.721 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 430.806 MILLION OZ

APRIL 1/WITH SILVER UP 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV// SLV INVENTORY RESTS AT 424.085 MILLION OZ

MARCH 28/WITH SILVER UP 20 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.005 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 424.085 MILLION OZ

MARCH 27/WITH SILVER UP 14 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A A DEPOSIT OF 1.691 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 423.079 MILLION OZ

MARCH 26/WITH SILVER DOWN 24 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A A DEPOSIT OF 0.366 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 421.388 MILLION OZ

MARCH 25/WITH SILVER UP 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE WITHDRAWAL OF 3.887 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 421.022 MILLION OZ

MARCH 22/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE DEPOSIT OF 1.1899 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 424.909 MILLION OZ

CLOSING INVENTORY 416.376MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

PETER SCHIFF/SCHIFFGOLD/MIKE MAHARRAY

END

2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/…

END

3. CHRIS POWELL//

Brien Lundin: Noise amid the signal

Submitted by admin on Mon, 2024-04-22 16:28 Section: Daily Dispatches

By Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, April 22, 2024

Anyone waiting on the sidelines for gold to go on sale is getting just what they asked for today.

Gold began diving right as trading opened overseas last evening, and the plunge gained steam in New York trading today.

As I write, gold is down nearly $60 (2.5%) and has yet to show any significant resistance to the selling pressure.

In fact, the price has reached lows not seen since … (checks notes) … last week.

The longer-term (one-month) chart above puts today’s selling in some needed perspective. A chart going way back to the March 1 beginning of the uptrend would show even less impact from today’s move.

That said, I don’t want to minimize this correction. This is an important test of the buying demand that has driven the price of gold nearly $400 higher since the end of February.

It’s still too early to determine precisely who’s selling (we may never know) and how low the price will go, but here’s what I’ve been able to glean so far….

… For the remainder of the analysis:

END

* * *

4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS live from the vault

https://kinesis.money/live-from-the-vault

5 a. IMPORTANT COMMENTARIES ON COMMODITIES/

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

END

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED DOWN 7.2469

OFFSHORE YUAN: UP TO 7.2663

SHANGHAI CLOSED DOWN 22.62PTS OR 0.74%

HANG SENG CLOSED UP 317.24PTS OR 1.92%

2. Nikkei closed UP 113.55OR 0.30%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX DOWN TO 105.86 EURO RISES TO 1.0669 UP 15 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.885Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 154.78 JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

3e Gold DOWN /JAPANESE Yen UP CHINESE ONSHORE YUAN:DOWN/ OFFSHORE: DOWN

3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil DOWN for WTI and DOWN FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWNTO +2.4980**/Italian 10 Yr bond yield DOWN to 3.823/SPAIN 10 YR BOND YIELD DOWN TO 3.261*

3i Greek 10 year bond yield DOWN TO 3.420

3j Gold at $2302,35silver at: 26.96 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 23 /100 roubles/dollar; ROUBLE AT 93.23//

3m oil into the 81 dollar handle for WTI and 86 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 154.78/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.885% STILL ON CENTRAL BANK (JAPAN) INTERVENTION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9113 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.97024well 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.

USA 10 YR BOND YIELD: 4.634 UP 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.734 UP 1 BASIS PTS/

USA 2 YR BOND YIELD: 4.996UP 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 32.58…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 3 BASIS PTS AT 4.2865

end

2.a Overnight: Newsquawk and Zero hedge

Futures Extend Rebound Into Second Day Ahead Of Tesla Earnings Despite Rising Yields

BY TYLER DURDEN

TUESDAY, APR 23, 2024 – 08:19 AM

US equity futures are higher for the second day, even as small-caps underperform after bond yields rise about +4bps and trade near session highs. As of 7:40am S&P and Nasdaq futures were 0.3% higher after Wall Street’s rebound from a $2 trillion selloff; European stocks also rose on broad-based strength, with only commodity-related sectors in the red; the UK’s FTSE 100 index hit a record high as a rebound that took hold on Monday gathered momentum. Ahead of Tesla’s earnings today, the Mag7 are mixed with semis higher pre-mkt after the recent rout. Commodities are stronger led by Ags and Energy with a flat USD. The macro data focus is on Flash PMIs, Home Sales, Regional Mfg Activity indicators; earnings are skewed towards the Industrials sector with TSLA the first Mag7 stock set to report. We will see if the last few trading sessions sufficiently squared positions and if realized stock moves can match the implied moves, expected to be the largest in 1.5 years.

Early results Tuesday were mostly positive, with shares of United Parcel Service and General Motors rising in premarket trading after earnings beats. PepsiCo slipped after reporting falling volumes in North America. But the main event will be the “Magnificent Seven” cohort of tech megacaps, with Tesla set to be the first to report after today’s market close. Next up is Meta Platforms on Wednesday, followed by Microsoft and Alphabet on Thursday. Here are some other notable premarket movers:

Abeona Therapeutics shares slumped 48.1% after the biotechnology company’s drug for a rare connective tissue disorder failed to win approval from the US Food and Drug Administration.
Cadence Design shares drop 5.8% after the maker of semiconductor design software’s revenue and adjusted earnings per share forecast for 2Q fell short of average analyst estimates. Additionally, the company reported 1Q product and maintenance revenue that missed expectations.
JD Sports shares gained after the British sportswear and sneakers retailer agreed to buy Hibbett (HIBB US) for about $1.1 billion to speed up its US expansion, in a deal expected to be accretive in the first full year of ownership. Hibbett gained 19%.
Roblox shares rose 4.2% after the game maker was upgraded to overweight from neutral at JPMorgan, which said it sees a “compelling” entry point for a company that has bookings growth of around 20%, exiting a heavy investment cycle and ramping new revenue streams in advertising as well as commerce.
Sunnova Energy shares fell 2.4% after the renewable energy company is cut to sector weight from overweight by KeyBanc Capital Markets. The downgrade reflects a cautious industry-wide stance, despite Sunnova’s “undemanding valuation,” analyst Sophie Karp writes in a note.

Earnings will stay front and center of investors’ minds this week with about 180 companies — over 40% of the S&P 500 market value — report results. The focus on corporate profits comes after a rout fueled by geopolitical fears and signals the Federal Reserve will be in no rush to lower rates. “Whether markets see further consolidation from here is likely to hinge on the assessment of the sustainability of AI demand ahead following the earnings releases,” said Eddie Cheung, a senior strategist at Credit Agricole CIB.

The challenge to S&P 500 returns is that companies will have to produce earnings, and outlooks, that support the already elevated multiples. Profits for the Magnificent Seven are forecast to rise 38% in the first quarter from a year ago, dwarfing the overall S&P 500’s 2.4% anticipated year-over-year earnings growth, according to Bloomberg Intelligence. But excluding Nvidia, the leading chipmaker for AI technology, expected net income growth for the group falls to 23%. Nvidia, which Goldman Sachs Group’s trading desk dubbed “the most important stock on planet Earth,” doesn’t report its earnings for another month.

“We remain focused on the current earnings season, which could re-focus investor attention on solid underlying fundamentals,” Citigroup Inc. strategists Mihir Tirodkar and Beata Manthey wrote in a note. “We would view the recent pullback as a buying opportunity.”

Meanwhile, Investor positioning on megacap growth and tech stocks continues to be cut, down from the 97th percentile in early March to the 77th percentile now, according to Deutsche Bank strategists. The group is still the only sector where positioning is above historical average, even if no longer extreme, the strategists wrote, countering the self-serving and incorrect observations by JPM’s Marko Kolanovic.

In Europe, the Stoxx 600 index climbed 1%, with technology and retail shares leading gains, while the mining sector lagged. SAP SE jumped more than 4% as a boom in demand for artificial intelligence fueled the German software company’s growth. Drugmaker Novartis AG added as much as 5% after lifting full-year guidance. Here are some other notable premarket movers:

JD Sports shares gain as much as 7.5% after the British sportswear and sneakers retailer agreed to buy Hibbett for about $1.1 billion to speed up its US expansion
Novartis shares advance as much as 5%, the most in more than 9 months, after the Swiss drugmaker reported results for the first quarter that impressed analysts
Nordnet rises as much as 9.7%, the most since October, after the digital bank reported its first-quarter results. Both Citi and Morgan Stanley highlight the company’s higher-than-expected brokerage income
SAP shares jump as much as 4.4% in Frankfurt after the software company reported quarter-over-quarter acceleration in the growth rate of current cloud backlog, a key indicator of cloud revenue to be booked within next 12 months
Akzo Nobel shares fall as much as 6.6%, to the lowest since November, after the coatings maker failed to raise its profit forecast for the year. The stock had risen in five of the six sessions leading up to Tuesday’s earnings report
DNB falls as much as 3.9%, the most since October, after the Norwegian lender reported a net interest income miss for the third quarter in a row, with analysts also flagging a low-quality profit beat due to it being attributable to provision income
Anglo American falls as much as 3.9% in London after the miner reported first-quarter earnings. Analysts noted that sales were behind production in copper and iron ore, leading to temporary inventory builds
Kuehne + Nagel shares drop as much as 3.9% after reporting first-quarter earnings in which pricing and cost performance were offset by lower volumes, according to Citigroup
Boliden declines as much as 5.9% after its first-quarter results, with analysts flagging that headline operating profit missed, but underlying operations performed reasonably well
OVH shares slide as much as 17%, the biggest drop since March 2023, as weaker-than-expected 2Q growth led the IT services provider to lower its forecast for growth and capex for the year

PMI data on Tuesday reinforced the positive mood in Europe. Private-sector activity advanced to the highest level in almost a year, driven by a buoyant services sector and Germany’s return to growth. And yet, barring any economic surprises, a rate cut in June is a “fait accompli,” European Central Bank Vice President Luis de Guindos said.

Earlier in the session, Asian stocks also rose for a second day as sentiment toward China continued to improve, with easing fears of a wider Middle East conflict offering additional support. The MSCI Asia Pacific Index rose as much as 0.8%, with TSMC and Tencent among the biggest boosts. Most regional markets advanced, though mainland China stocks fell for a third day and Japanese shares trimmed gains as the yen strengthened after Finance Minister Shunichi Suzuki’s comments on possible intervention. Hong Kong stocks led the region’s gains after UBS upgraded Chinese stocks to overweight, citing resilient earnings and a growing focus on shareholder returns. Investors are turning more upbeat on the nation’s assets thanks to green shoots in the economy as well as signs of improving corporate performance.

Hang Seng and Shanghai Comp. were mixed with outperformance in Hong Kong due to tech strength, while the mainland lagged amid the PBoC’s continued tepid liquidity operations and with the US drafting sanctions that threaten to cut some Chinese banks off from the global financial system for aiding the Russian war effort.
Nikkei 225 traded indecisively and on both sides of 37,500 after briefly wiping out all of its opening gains.
ASX 200 was led by strength in real estate and tech, while the latest flash PMIs from Australia were varied.

“What makes us more positive now on earnings are the early signs of a pick-up in consumption,” UBS strategists including Sunil Tirumalai wrote in a note. “Any rebound in consumer confidence for us means the possibility of household savings flowing into consumption” and eventually markets.

In rates, treasuries are under modest pressure with front-end yields higher by ~2bp before a flurry of bond auctions that will test investors’ appetite after yields hit the highest in 2024: the latest weekly supply cycle (2-, 5- and 7-year auctions) is set to kick off with record $69b 2-year later today. US 10-year yields around 4.645%, higher by nearly 4bps on the day. In Europe, gilts underperform their German counterparts after the UK raised its planned gilt issuance for the fiscal year more than expected, as the government’s budget shortfall overshot forecasts; the belly of gilts curve cheapened after DMO announcement, with 5-year UK yields higher by around 2bp. Treasury coupon auctions resume at 1pm New York time with $69b 2-year, followed by 5- and 7-year notes Wednesday and Thursday. The WI 2-year yield at around 4.965% is ~37bp cheaper than last month’s, which tailed by 0.5bp

In commodities, oil prices advance, with WTI rising 0.4% to trade near $82.20. Gold extends Monday’s drop, down 1% on the day; Monday’s 2.7% drop was biggest in nearly two years. Bitcoin is modestly softer and holds around the USD 66k mark.

Looking at today’s calendar, US economic data slate includes April Philadelphia Fed non-manufacturing activity (8:30am), S&P manufacturing and services PMIs (9:45am), March new home sales and April Richmond Fed manufacturing index (10am). From central banks, we’ll hear from the ECB’s Panetta and Nagel, and the BoE’s Haskel and Pill as Fed members have entered quiet period ahead of May 1 policy announcement. Finally, today’s earnings releases include Visa, Tesla, PepsiCo, General Electric, UPS and General Motors.

Market Snapshot

S&P 500 futures up 0.1% to 5,052.75
STOXX Europe 600 up 0.6% to 505.15
MXAP up 0.6% to 170.25
MXAPJ up 0.9% to 524.40
Nikkei up 0.3% to 37,552.16
Topix up 0.1% to 2,666.23
Hang Seng Index up 1.9% to 16,828.93
Shanghai Composite down 0.7% to 3,021.98
Sensex up 0.3% to 73,852.66
Australia S&P/ASX 200 up 0.4% to 7,683.51
Kospi down 0.2% to 2,623.02
Brent Futures up 1.0% to $87.85/bbl
Gold spot down 0.9% to $2,305.32
US Dollar Index down 0.14% to 105.93
German 10Y yield little changed at 2.50%
Euro up 0.2% to $1.0680

Top Overnight News

The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, arming Washington’s top envoy with diplomatic leverage that officials hope will stop Beijing’s commercial support of Russia’s military production, according to people familiar with the matter. WSJ
Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence chips through resellers, despite the U.S. widening a ban last year on the sale of such technology to China. RTRS
China QE drumbeat grows louder as the country’s finance minister expresses support for the PBOC to resume trading gov’t bonds (although many doubt this would lead to Fed/ECB-style QE). WSJ
AAPL’s iPhone sales in China fell 19% during the March quarter, according to data from an independent research firm that marked the gadget’s worst performance there since Covid struck around 2020. BBG
Japanese Finance Minister Shunichi Suzuki said last week’s meeting with his U.S. and South Korean counterparts has laid the groundwork for Tokyo to act against excessive yen moves, issuing the strongest warning to date on the chance of intervention. RTRS
ECB’s Luis De Guindos says a June cut is all but guaranteed, but what happens beyond that could depend on the actions of the Fed. WSJ
Europe’s flash PMIs for April point to firmer growth (and inflation), with the slump in manufacturing showing signs of easing while services rose to 52.9 (up from 51.5 in Mar and above the Street’s 51.8 forecast), and overall price pressures intensified slightly. S&P
Tesla headlines today’s earnings after seven straight days of declines. Margins, its robotaxi and the fate of its lower-cost EV will be the focus. The company is also being sued in California by a former employee who claims it failed to provide required notice for layoffs. BBG
MSFT launches smaller AI models that provide “good enough” capabilities for many, but at a fraction of the cost (the models don’t need high-end Nvidia chips to function). NYT

Earnings

Nucor Corp (NUE) Q1 2024 (USD): EPS 3.46 (exp. 3.66), Revenue 8.14bln (exp. 8.26bln). Expects earnings to decrease in Q2 vs Q1 due to decreased earnings in the steel mills segment. Average scrap and scrap substitute cost per gross ton USD 421 (exp. 399.58). Sales tons to outside customers 6.22mln (exp. 6.41mln).
SAP (SAP GY) Q1 24 (EUR): Adj. EPS 0.81 (exp. 0.89), adj. revenue 8.04bln (exp. 8.03bln). Adj. cloud and software revenue EUR 6.96bln (exp. 6.93bln). Adj. cloud revenue EUR 3.93bln (exp. 3.94bln). Adj. cloud revenue in constant currencies +25% (exp. +24.5%). Adj. operating profit EUR 1.53bln (exp. 1.7bln). GUIDANCE: Cloud revenue view between 17.0-17.3bln (prev. 13.66bln in 2023). Cloud and software revenue view at EUR 29.0-29.5bln (prev. 26.92bln in 2023) Adj. Operating profit view EUR 7.6-7.9bln (prev. 6.51bln in 2023). Raises 2023 dividend 7% to EUR 2.20/shr vs 2022 dividend. (Newswires) SAP ADR (SAP) rose 2.1% in the US after-hours. Index Weightings: DAX 40 (10.9% – largest), Euro Stoxx 50 (5% – third largest), Stoxx 600 (1.3%).
Renault (RNO FP) Q1 (EUR): Revenue 11.71bln (exp. 11.7bln). Sales +2.6% Y/Y. Strong order book in Europe, reflecting a very good start to the year. Co. is progressing well toward its target of cost reduction to lower EV costs by 40%. The EV market is a bit slower than had expected a few years ago. Talks with Geely and Aramco on the ICE powertrain JV are at an advanced stage.
Novartis (NOVN SW) Q1 (USD): Revenue 11.8bln (exp. 11.5bln). Core EPS 1.80 (exp. 1.73); Raises FY24 Net Sales and Core Operating Income guidance. Strong sales momentum in Entresto (+36% cc), Cosentyx (+25% cc), Kesimpta (+66% cc), Kisqali (+54% cc), Pluvicto (+47% cc) and Leqvio (+139% cc). Free cash flow 2.0bln (-24%) – declined due to a prior-year one-timer and timing of payments. Novartis proposes Dr. Giovanni Caforio as Chair of the Board of Directors at AGM 2025. Index Weightings: SMI (15.9% – second largest), Stoxx 600 (2%). Net Sales are expected to grow high-single to low double-digit digits. Core operating income is expected to grow low double-digit to mid-teens.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded with a mild positive bias after the tech-led rebound stateside. ASX 200 was led by strength in real estate and tech, while the latest flash PMIs from Australia were varied. Nikkei 225 traded indecisively and on both sides of 37,500 after briefly wiping out all of its opening gains. Hang Seng and Shanghai Comp. were mixed with outperformance in Hong Kong due to tech strength, while the mainland lagged amid the PBoC’s continued tepid liquidity operations and with the US drafting sanctions that threaten to cut some Chinese banks off from the global financial system for aiding the Russian war effort.

Top Asian News

US is reportedly drafting sanctions that threaten to cut some Chinese banks off from the global financial system as it hopes to stop Beijing’s commercial support of Russia’s military production, according to WSJ.
BoJ Governor Ueda reiterated that monetary policy will be data dependent and will depend on the economy and inflation, while he said they don’t have any pre-set idea on the timing and pace of future rate hikes and if trend inflation accelerates in line with their forecast, they will adjust the degree of monetary support through an interest rate hike. Ueda also stated if their price forecast changes, that will also be a reason to change policy but noted it is hard to say beforehand how long the BoJ should wait in gathering enough data to change policy and would like to leave some scope for adjustment by not pre-committing to a certain policy too much.
Japanese Finance Minister Suzuki said the government is ready to respond appropriately to excessive FX moves and is closely watching FX moves with a high sense of urgency, while they won’t rule out any option and will deal appropriately with excessive FX moves. Suzuki also said he closely communicated with the US and South Korea on forex in Washington and won’t deny that last week’s discussions in Washington have laid the groundwork for Japan to take appropriate FX action.
Senior Japanese ruling party official said recent JPY falls are excessive and out of line with fundamentals; said Japanese authorities could intervene to prop up the JPY at any time
Japan Business Lobby Keidanren Chair Tokura said he think Government will make appropriate decision on intervention, via Kyodo

European bourses, Stoxx600 (+0.6%) began the session on a strong footing, and has remained at elevated (albeit contained) levels throughout the European morning. There was little reaction to the EZ Flash PMI data. European sectors hold a positive tilt; Tech takes the top spot, benefiting from US tech gains in the prior session, and post-earning strength in SAP (+3.9%). Basic Resources is found at the foot of the pile, amid broader weakness in metals prices. US Equity Futures (ES +0.1%, NQ +0.2%, RTY U/C) are tentative ahead of a busy earnings slate and the key US PMI data.

Top European News

ECB’s de Guindos said a June rate cut looks like a set deal, if there are no surprises; end of inflation fight is in sight; largest remaining threat stems from services inflation. There’s a clear slowdown in wage dynamics. Inclined to be very cautious what happens after June. Need to take into account what’s happening in the US. What the Fed decides is crucial for the global economy. Beed to take impact of FX movements into account. Indicators point toward modest H2 Euro-area recovery.
BoE’s Haskel said UK food price inflation is “unusually high”; UK labour market is is “extremely tight”, via Bloomberg. Inflation will stay high unless the job market weakens.
Kantar UK Supermarket update (Apr): Grocery price inflation has fallen to 3.2% over the four weeks to 14 April, marking the fourteenth monthly drop in a row

DXY softer having briefly dipped under 106 amid gains in the EUR. Ultimately though, the index is in consolidation mode ahead of GDP and PCE metrics later this week and FOMC on May 1st. For now, the next downside target comes via last week’s low at 105.74.
EUR is boosted by PMI metrics which saw strong services and composite PMIs overshadow a soft outturn for the manufacturing sector. EUR/USD as high as 1.0695 with the 1.07 level not breached since 12th April; 1.0729 was the high that day.
GBP: After a soft session yesterday which dragged the pair to a low of 1.23, Cable is on the front foot thanks to a strong showing for services PMI. 1.2388 is the high watermark thus far.
JPY is steady vs. the USD but made another multi-decade high at 154.85. The closer the pair moves to 155, the louder the calls for intervention will get. For now, jawboning is providing minimal help for JPY.
Antipodeans are varied the USD with slight outperformance in Aussie after AUD/NZD extended above 1.0900. AUD/USD saw little follow-through from PMI data overnight with the pair lingering around yesterday’s best levels after printing a YTD low on Friday.
PBoC set USD/CNY mid-point at 7.1059 vs exp. 7.2437 (prev. 7.1043).

Fixed Income

USTs initially remained in overnight ranges, though succumbed to selling pressure, sparked by EZ-PMIs, which dragged EGBs lower. USTs matched yesterday’s 107.31 high earlier in the session before pulling back to circa 107.25, and further downside could bring Monday’s 107.17 low into view.
Bunds looked as if they wanted to venture higher in early trade in an extension of yesterday’s gains and with de Guindos labelling June as a done deal. However, EZ-wide and regional PMIs acted as a drag thereafter with a strong showing for the services sector, helping composite metrics to beat expectations. 131.47 was the peak before prices made a low at 130.98.
Gilts started the session on the back foot thanks to an unwind of yesterday’s Ramsden-induced gains and higher-than-expected public borrowing figures which saw the UK DMO revise higher its 2024/25 Gilt issuance remit. Gilts down as low as 96.90 with yesterday’s trough at 96.71.
UK DMO revises higher its 2024/25 Gilt issuance remit to GBP 277.7bln (prev. GBP 265.3bln)
Italy sell EUR 2.5bln vs exp. EUR 2-2.5bln 3.20% 2026 BTP Short Term and EUR 2.5bln vs exp. EUR 2-2.5bln 1.50% 2029 & 1.80% 2036 BTPei:
Germany sells EUR vs exp. EUR 5bln 2.90% 2026 Schatz: b/c 2.7x (prev. 2.31x) & avg. yield 2.91% (prev. 2.84%) and retention 18.6% (prev. 17.7%)

Commodities

Upside across the crude complex underpinned by the Flash PMIs from Europe which (although manufacturing fell short of expectations) pointed to a services-led recovery; however, prices have pulled back from best levels in recent trade. Brent June meanwhile trades in a USD 86.97-97.95/bbl range.
Softer trade across precious metals despite the softer Dollar as the geopolitical unwind from yesterday continues, with relatively broad-based losses seen across spot gold, silver and palladium; XAU fell under USD 2,300/oz to find current intraday support around USD 2,291/oz.
Base metals are lower across the board with sizeable intraday losses despite the softer Dollar and risk-on tone across the rest of the market. There has been no obvious catalyst for this pullback but some desks cite Asian investors being cautious of the recent rally driven, in part, by speculative trading.
Anglo American (AAL LN) Q1 Copper Production 198k tonnes (exp. 191.3k tonnes)

Geopolitics: Middle East

Israeli occupation forces reportedly stormed the city of Jericho in the eastern West Bank, while it was also reported that Israeli gunboats targeted the seashores in the city of Khan Younis in the southern Gaza Strip. In relevant news, sirens sounded in the town of Metulla and the Kiryat Shmona area in northern Israel on suspicion of rocket fire, according to Al Jazeera.
Hezbollah fired dozens of rockets into northern Israel on Monday which drew retaliatory strikes, while it said its attack was in response to recent Israeli strikes on towns and villages in southern Lebanon, according to Associated Press.
Israeli raids were reported on the town of Yaroun in southern Lebanon, according to Al Jazeera.
Hamas said it condemns the statements of US Secretary of State Blinken and his attempt to hold the group responsible for obstructing reaching an agreement, according to Sky News Arabia. Hamas said Blinken’s statements contradict the fact that the movement has provided flexibility more than once to facilitate an agreement, while it added that the movement’s demands are a permanent ceasefire, the withdrawal of the occupation and the return of the displaced to their homes in all areas of the Gaza Strip.
US defence official said the Al-Asad airbase in Iraq came under attack from an Iranian proxy group today which is the second attack on a US base in two days, according to Fox.

Geopolitics: Other

UK PM Sunak is to unveil an extra GBP 500mln of military funding to Ukraine and announce the largest supply of munitions to Kyiv on Tuesday as he travels to Poland and Germany, according to FT.
North Korean state media reported that leader Kim guided the first nuclear counterstrike drills, while it stated that the drills are a clear warning sign to enemies.

US Event calendar

08:30: April Philadelphia Fed Non-Manufactu, prior -18.3
09:45: April S&P Global US Composite PMI, est. 52.0, prior 52.1
09:45: April S&P Global US Services PMI, est. 52.0, prior 51.7
09:45: April S&P Global US Manufacturing PM, est. 52.0, prior 51.9
10:00: Revisions: Retail Sales
10:00: April Richmond Fed Business Conditio, prior -8
10:00: April Richmond Fed Index, est. -8, prior -11
10:00: March New Home Sales MoM, est. 1.1%, prior -0.3%
10:00: March New Home Sales, est. 669,000, prior 662,000

DB’s Jim Reid concludes the overnight wrap

It may not be saying a lot, but markets had their best performance in some time yesterday, as investors became a bit more optimistic about the near-term outlook. Equities recovered, and the S&P 500 (+0.87%) finally managed to advance after a run of 6 consecutive declines. Adding to the positive sentiment were growing hopes that a further escalation in the Middle East would be avoided, and Brent crude oil prices (-0.33%) fell back to their lowest level so far this month, at $87.00/bbl. So there were several pieces of better news for investors, but there’ll be no let-up on the calendar today, as we’ve got lots of earnings reports, including Tesla after the US close. While the Magnificent 7 were up +0.94% yesterday, Tesla was down -3.40%, extending its decline this year to -42.8% and having halved since last July. It’s maybe a slight warning for the darlings of the current AI boom that things can change quickly if profits don’t follow very high expectations as new technologies grow. Talking of which Nvidia bounced back from their -10.0% decline on Friday and rose +4.35% yesterday.

On top of earnings today, we’ll get an initial indication about how the global economy has performed in Q2, as the April flash PMIs are coming out for the major economies. These will be of particular interest for assessing the nascent recovery in the euro area economy. In March the composite PMI rose above the 50 level for the first time in 10 months. There will also be attention on the price components within the PMIs, especially in the US, where the composite output price index posted a 10-month high of its own last month.

We’ll have to see how those events pan out, but before all that, risk assets managed to post a strong recovery on both sides of the Atlantic. That made a change after three weeks of losses for global equities, with the major indices including the S&P 500 (+0.87%), the NASDAQ (+1.11%) and the STOXX 600 (+0.60%) all advancing. Information technology (+1.28%) and financials (+1.20%) outperformed within the S&P 500. Alongside that, the VIX index of volatility (-1.8pts) fell to 16.94pts, which is its lowest level since Iran launched their recent missile strike on Israel . And here in the UK, the FTSE 100 (+1.62%) even closed at an all-time high, aided by the weakness in sterling (-0.19%), which hit its weakest level against the US Dollar since November.

Henry did a piece yesterday (link here) looking at what happens next after the S&P 500 has seen 6 consecutive declines as we saw before last night’s positive close. The subsequent 1-month and 6-month performances have mostly been positive in recent history. Moreover, if the S&P had posted a 7th consecutive decline yesterday, that would have taken us into unusual territory, as it’s something we haven’t seen since February 2020 as Covid-19 spread globally. Indeed, the examples of 7 consecutive losses for the S&P 500 (in the 21st century at least) have either been during a crisis (GFC, US debt ceiling crisis, Euro Crisis, Covid-19) or in anticipation of a pivotal event with significant uncertainty (2016 US election).

As discussed at the top, sentiment was bolstered by the lack of any further escalation in the Middle East. Indeed, yesterday saw Iran’s foreign ministry spokesman say that Israel had received the “necessary response at this stage”. The apparent easing in tensions helped oil prices fall back, and there was also a sharp move lower in gold (-2.59%), which had its biggest daily decline since June 2021. It’s down another -0.90% this morning.

The more positive tone was evident across sovereign bonds too. They were supported by the drop in oil prices, which added to hopes that any spike in inflation would prove temporary, and the 1yr US inflation swap (-1.2bps) fell back for a 4th session to 2.71%. In turn, that meant investors grew a bit more hopeful about the prospect of rate cuts, and the amount of Fed rate cuts priced by the December meeting (+1.2bps) inched up to 40bps. Similarly at the ECB, the number of rate cuts priced by December’s meeting (+4.2bps) rose to 78bps.

With more rate cuts being priced in, that helped to push down yields, with those on 10yr bunds (-1.4bps), OATs (-2.7bps) and BTPs (-8.7bps) all moving lower. Admittedly, there was a decent intraday turnaround, as the 10yr bund yield had risen to 2.55% at one point, its highest level since November, before reversing course and ending the day lower at 2.48%. Meanwhile in the US, there was a decline in the 2yr Treasury yield (-1.5bps) to 4.97%, whilst the 10yr Treasury yield (-1.2bps) fell to 4.61%, as it also pared back its earlier losses, having still being above at 4.66% as Europe finished lunch.

In Asia the Hang Seng (+1.64%) is leading gains on a broker upgrade, with the Nikkei (+0.27%), the KOSPI (+0.20%) and the S&P/ASX 200 (+0.41%) seeing minor gains. Chinese stocks are the worst performers with the CSI (-0.56%) and the Shanghai Composite (-0.41%) both trading lower. US stock futures are broadly flat as I type.

Early morning data showed that key gauges of Japan’s manufacturing and service activity improved in April to its highest levels in nearly a year. The au Jibun Bank flash manufacturing PMI rose to 49.9 in April, as against a level of 48.2 in March. The services PMI advanced to 54.6 in April up from 54.1 in March indicating that the service sector continues to remain the primary driver of growth.

Elsewhere, Australia’s Judo Bank PMI data for April showed the manufacturing PMI rising to 49.9 from 47.3. Meanwhile, the service sector PMI came off slightly from 54.4 to 54.2, though still registering a decent growth environment. The composite PMI hit a 24-month high of 53.6 in April, an improvement from the previous month’s 53.3.

To the day ahead now, and the main data highlight will be the April flash PMIs from Europe and the US. Elsewhere, we’ll get US new home sales for March, UK public finances for March, and the Richmond Fed’s manufacturing index for April. From central banks, we’ll hear from the ECB’s Panetta and Nagel, and the BoE’s Haskel and Pill. Finally, today’s earnings releases include Visa, Tesla, PepsiCo, General Electric, UPS and General Motors.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

US equity futures tentative ahead of a busy earnings slate, Bonds flat but were pressured post EZ PMIs, XAU dips; US PMIs due – Newsquawk US Market Open

TUESDAY, APR 23, 2024 – 05:43 AM

European equities are entirely in the green; US equity futures trade modestly on either side of the unchanged mark.
Dollar is slightly softer, EUR incrementally firmer post-EZ PMI; USD/JPY hits multi-decade highs once again.
USTs initially remained in overnight ranges but succumbed to modest selling pressure following EZ PMIs.
Crude is marginally firmer, underpinned by EZ PMIs; XAU continues to decline and base metals slip.
Apple (AAPL) iPhone sales in China -19% in Q1 and down 24% Y/Y in the first six weeks of the year, according to Bloomberg citing Counterpoint Research.
Looking ahead, US PMIs, US Richmond Fed Index, Comments from BoE’s Pill & ECB’s Nagel, Supply from the US, Earnings from Spotify, General Motors, Philip Morris, PepsiCo, RTX, Fiserv, UPS, Visa, Lockheed Martin & Tesla

EUROPEAN TRADE

EQUITIES

European bourses, Stoxx600 (+0.6%) began the session on a strong footing, and has remained at elevated (albeit contained) levels throughout the European morning. There was little reaction to the EZ Flash PMI data.
European sectors hold a positive tilt; Tech takes the top spot, benefiting from US tech gains in the prior session, and post-earning strength in SAP (+3.9%). Basic Resources is found at the foot of the pile, amid broader weakness in metals prices.
US Equity Futures (ES +0.1%, NQ +0.2%, RTY U/C) are tentative ahead of a busy earnings slate and the key US PMI data.
Click here and here for the sessions European pre-market equity newsflow.
Click here for more details.

FX

DXY softer having briefly dipped under 106 amid gains in the EUR. Ultimately though, the index is in consolidation mode ahead of GDP and PCE metrics later this week and FOMC on May 1st. For now, the next downside target comes via last week’s low at 105.74.
EUR is boosted by PMI metrics which saw strong services and composite PMIs overshadow a soft outturn for the manufacturing sector. EUR/USD as high as 1.0695 with the 1.07 level not breached since 12th April; 1.0729 was the high that day.
GBP: After a soft session yesterday which dragged the pair to a low of 1.23, Cable is on the front foot thanks to a strong showing for services PMI. 1.2388 is the high watermark thus far.
JPY is steady vs. the USD but made another multi-decade high at 154.85. The closer the pair moves to 155, the louder the calls for intervention will get. For now, jawboning is providing minimal help for JPY.
Antipodeans are varied the USD with slight outperformance in Aussie after AUD/NZD extended above 1.0900. AUD/USD saw little follow-through from PMI data overnight with the pair lingering around yesterday’s best levels after printing a YTD low on Friday.
PBoC set USD/CNY mid-point at 7.1059 vs exp. 7.2437 (prev. 7.1043).
Click here for more details.
Click here for NY Option Expiry details.

FIXED INCOME

USTs initially remained in overnight ranges, though succumbed to selling pressure, sparked by EZ-PMIs, which dragged EGBs lower. USTs matched yesterday’s 107.31 high earlier in the session before pulling back to circa 107.25, and further downside could bring Monday’s 107.17 low into view.
Bunds looked as if they wanted to venture higher in early trade in an extension of yesterday’s gains and with de Guindos labelling June as a done deal. However, EZ-wide and regional PMIs acted as a drag thereafter with a strong showing for the services sector, helping composite metrics to beat expectations. 131.47 was the peak before prices made a low at 130.98.
Gilts started the session on the back foot thanks to an unwind of yesterday’s Ramsden-induced gains and higher-than-expected public borrowing figures which saw the UK DMO revise higher its 2024/25 Gilt issuance remit. Gilts down as low as 96.90 with yesterday’s trough at 96.71.
UK DMO revises higher its 2024/25 Gilt issuance remit to GBP 277.7bln (prev. GBP 265.3bln)
Italy sell EUR 2.5bln vs exp. EUR 2-2.5bln 3.20% 2026 BTP Short Term and EUR 2.5bln vs exp. EUR 2-2.5bln 1.50% 2029 & 1.80% 2036 BTPei:
Germany sells EUR vs exp. EUR 5bln 2.90% 2026 Schatz: b/c 2.7x (prev. 2.31x) & avg. yield 2.91% (prev. 2.84%) and retention 18.6% (prev. 17.7%)
Click here for more details.

COMMODITIES

Upside across the crude complex underpinned by the Flash PMIs from Europe which (although manufacturing fell short of expectations) pointed to a services-led recovery; however, prices have pulled back from best levels in recent trade. Brent June meanwhile trades in a USD 86.97-97.95/bbl range.
Softer trade across precious metals despite the softer Dollar as the geopolitical unwind from yesterday continues, with relatively broad-based losses seen across spot gold, silver and palladium; XAU fell under USD 2,300/oz to find current intraday support around USD 2,291/oz.
Base metals are lower across the board with sizeable intraday losses despite the softer Dollar and risk-on tone across the rest of the market. There has been no obvious catalyst for this pullback but some desks cite Asian investors being cautious of the recent rally driven, in part, by speculative trading.
Anglo American (AAL LN) Q1 Copper Production 198k tonnes (exp. 191.3k tonnes)
Click here for more details.

NOTABLE EUROPEAN HEADLINES

ECB’s de Guindos said a June rate cut looks like a set deal, if there are no surprises; end of inflation fight is in sight; largest remaining threat stems from services inflation. There’s a clear slowdown in wage dynamics. Inclined to be very cautious what happens after June. Need to take into account what’s happening in the US. What the Fed decides is crucial for the global economy. Beed to take impact of FX movements into account. Indicators point toward modest H2 Euro-area recovery.
BoE’s Haskel said UK food price inflation is “unusually high”; UK labour market is is “extremely tight”, via Bloomberg. Inflation will stay high unless the job market weakens.
Kantar UK Supermarket update (Apr): Grocery price inflation has fallen to 3.2% over the four weeks to 14 April, marking the fourteenth monthly drop in a row

PMI DATA RECAP

French HCOB Services Flash PMI (Apr) 50.5 vs. Exp. 49.0 (Prev. 48.3); HCOB Manufacturing Flash PMI (Apr) 44.9 vs. Exp. 47.0 (Prev. 46.2); HCOB Composite Flash PMI (Apr) 49.9 vs. Exp. 48.8 (Prev. 48.3); “Overall, our HCOB nowcast model for the second quarter points to a recovery of the French economy, driven by the services sector”.
German HCOB Manufacturing Flash PMI (Apr) 42.2 vs. Exp. 42.9 (Prev. 41.9); HCOB Services Flash PMI (Apr) 53.3 vs. Exp. 50.5 (Prev. 50.1); HCOB Composite Flash PMI (Apr) 50.5 vs. Exp. 48.6 (Prev. 47.7); “Factoring in the PMI numbers into our GDP Nowcast, we estimate that GDP may expand by 0.2%”.
EU HCOB Services Flash PMI (Apr) 52.9 vs. Exp. 51.8 (Prev. 51.5); HCOB Manufacturing Flash PMI (Apr) 45.6 vs. Exp. 46.6 (Prev. 46.1); HCOB Composite Flash PMI (Apr) 51.4 vs. Exp. 50.8 (Prev. 50.3); “Considering various factors including the HCOB PMIs, our GDP forecast suggests a 0.3% expansion in the second quarter”.
UK Flash Services PMI (Apr) 54.9 vs. Exp. 53.0 (Prev. 53.1); Flash Manufacturing PMI (Apr) 48.7 vs. Exp. 50.4 (Prev. 50.3); Flash Composite PMI (Apr) 54.0 vs. Exp. 52.7 (Prev. 52.8)

OTHER DATA RECAP

UK PSNB Ex Banks GBP* (Mar) 11.939B GB vs. Exp. 10.2B GB (Prev. 8.401B GB, Rev. 9.524B GB); PSNB, GBP (Mar) 11.015B GB (Prev. 7.477B GB, Rev. 8.600B GB); PSNCR, GBP (Mar) 20.739B GB (Prev. 3.024B GB, Rev. 3.236B GB)

NOTABLE US HEADLINES

Apple (AAPL) iPhone sales in China -19% in Q1 and down 24% Y/Y in the first six weeks of the year, according to Bloomberg citing Counterpoint Research.

EARNINGS

Nucor Corp (NUE) Q1 2024 (USD): EPS 3.46 (exp. 3.66), Revenue 8.14bln (exp. 8.26bln). Expects earnings to decrease in Q2 vs Q1 due to decreased earnings in the steel mills segment. Average scrap and scrap substitute cost per gross ton USD 421 (exp. 399.58). Sales tons to outside customers 6.22mln (exp. 6.41mln).
SAP (SAP GY) Q1 24 (EUR): Adj. EPS 0.81 (exp. 0.89), adj. revenue 8.04bln (exp. 8.03bln). Adj. cloud and software revenue EUR 6.96bln (exp. 6.93bln). Adj. cloud revenue EUR 3.93bln (exp. 3.94bln). Adj. cloud revenue in constant currencies +25% (exp. +24.5%). Adj. operating profit EUR 1.53bln (exp. 1.7bln). GUIDANCE: Cloud revenue view between 17.0-17.3bln (prev. 13.66bln in 2023). Cloud and software revenue view at EUR 29.0-29.5bln (prev. 26.92bln in 2023) Adj. Operating profit view EUR 7.6-7.9bln (prev. 6.51bln in 2023). Raises 2023 dividend 7% to EUR 2.20/shr vs 2022 dividend. (Newswires) SAP ADR (SAP) rose 2.1% in the US after-hours. Index Weightings: DAX 40 (10.9% – largest), Euro Stoxx 50 (5% – third largest), Stoxx 600 (1.3%).
Renault (RNO FP) Q1 (EUR): Revenue 11.71bln (exp. 11.7bln). Sales +2.6% Y/Y. Strong order book in Europe, reflecting a very good start to the year. Co. is progressing well toward its target of cost reduction to lower EV costs by 40%. The EV market is a bit slower than had expected a few years ago. Talks with Geely and Aramco on the ICE powertrain JV are at an advanced stage.
Novartis (NOVN SW) Q1 (USD): Revenue 11.8bln (exp. 11.5bln). Core EPS 1.80 (exp. 1.73); Raises FY24 Net Sales and Core Operating Income guidance. Strong sales momentum in Entresto (+36% cc), Cosentyx (+25% cc), Kesimpta (+66% cc), Kisqali (+54% cc), Pluvicto (+47% cc) and Leqvio (+139% cc). Free cash flow 2.0bln (-24%) – declined due to a prior-year one-timer and timing of payments. Novartis proposes Dr. Giovanni Caforio as Chair of the Board of Directors at AGM 2025. Index Weightings: SMI (15.9% – second largest), Stoxx 600 (2%). Net Sales are expected to grow high-single to low double-digit digits. Core operating income is expected to grow low double-digit to mid-teens.

GEOPOLITICS

MIDDLE EAST

Israeli occupation forces reportedly stormed the city of Jericho in the eastern West Bank, while it was also reported that Israeli gunboats targeted the seashores in the city of Khan Younis in the southern Gaza Strip. In relevant news, sirens sounded in the town of Metulla and the Kiryat Shmona area in northern Israel on suspicion of rocket fire, according to Al Jazeera.
Hezbollah fired dozens of rockets into northern Israel on Monday which drew retaliatory strikes, while it said its attack was in response to recent Israeli strikes on towns and villages in southern Lebanon, according to Associated Press.
Israeli raids were reported on the town of Yaroun in southern Lebanon, according to Al Jazeera.
Hamas said it condemns the statements of US Secretary of State Blinken and his attempt to hold the group responsible for obstructing reaching an agreement, according to Sky News Arabia. Hamas said Blinken’s statements contradict the fact that the movement has provided flexibility more than once to facilitate an agreement, while it added that the movement’s demands are a permanent ceasefire, the withdrawal of the occupation and the return of the displaced to their homes in all areas of the Gaza Strip.
US defence official said the Al-Asad airbase in Iraq came under attack from an Iranian proxy group today which is the second attack on a US base in two days, according to Fox.

OTHER

UK PM Sunak is to unveil an extra GBP 500mln of military funding to Ukraine and announce the largest supply of munitions to Kyiv on Tuesday as he travels to Poland and Germany, according to FT.
North Korean state media reported that leader Kim guided the first nuclear counterstrike drills, while it stated that the drills are a clear warning sign to enemies.

CRYPTO

Bitcoin is modestly softer and holds around the USD 66k mark.

APAC TRADE

APAC stocks traded with a mild positive bias after the tech-led rebound stateside.
ASX 200 was led by strength in real estate and tech, while the latest flash PMIs from Australia were varied.
Nikkei 225 traded indecisively and on both sides of 37,500 after briefly wiping out all of its opening gains.
Hang Seng and Shanghai Comp. were mixed with outperformance in Hong Kong due to tech strength, while the mainland lagged amid the PBoC’s continued tepid liquidity operations and with the US drafting sanctions that threaten to cut some Chinese banks off from the global financial system for aiding the Russian war effort.

NOTABLE ASIA-PAC HEADLINES

US is reportedly drafting sanctions that threaten to cut some Chinese banks off from the global financial system as it hopes to stop Beijing’s commercial support of Russia’s military production, according to WSJ.
BoJ Governor Ueda reiterated that monetary policy will be data dependent and will depend on the economy and inflation, while he said they don’t have any pre-set idea on the timing and pace of future rate hikes and if trend inflation accelerates in line with their forecast, they will adjust the degree of monetary support through an interest rate hike. Ueda also stated if their price forecast changes, that will also be a reason to change policy but noted it is hard to say beforehand how long the BoJ should wait in gathering enough data to change policy and would like to leave some scope for adjustment by not pre-committing to a certain policy too much.
Japanese Finance Minister Suzuki said the government is ready to respond appropriately to excessive FX moves and is closely watching FX moves with a high sense of urgency, while they won’t rule out any option and will deal appropriately with excessive FX moves. Suzuki also said he closely communicated with the US and South Korea on forex in Washington and won’t deny that last week’s discussions in Washington have laid the groundwork for Japan to take appropriate FX action.
Senior Japanese ruling party official said recent JPY falls are excessive and out of line with fundamentals; said Japanese authorities could intervene to prop up the JPY at any time
Japan Business Lobby Keidanren Chair Tokura said he think Government will make appropriate decision on intervention, via Kyodo

APAC DATA RECAP

Japanese Manufacturing PMI Flash (Apr) 49.9 (Prev. 48.2); Services PMI Flash (Apr) 54.6 (Prev. 54.1); Composite Flash (Apr) 52.6 (Prev. 51.7)
Australian Manufacturing PMI Flash (Apr) 49.9 (Prev. 47.3); Services PMI Flash (Apr) 54.2 (Prev. 54.4); Composite PMI Flash (Apr) 53.6 (Prev. 53.3)

3C ASIA AFFAIRS/

\TUESDAY MORNING/MONDAY NIGHT

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

3 CHINA

CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EU/GREECE/SPAIN

Not a good idea!

EU Leaders Trying To Convince Greece & Spain To ‘Sacrifice’ Their Own Anti-Air Defenses For Ukraine

TUESDAY, APR 23, 2024 – 02:45 AM

NATO and European Union leaders are literally pressuring member states to sacrifice their own national defense for the sake of Ukraine, part of the ongoing saga of desperation which has led some Western nations to deplete domestic arms and ammo stockpiles.

A disturbing report by Financial Times published Monday says Greece and Spain are under intensifying pressure from Western allies to give up what few Patriot anti-air defense systems that they possess.

Russia has continued to decimate Ukraine’s energy, logistics, and communications infrastructure via superior airpower – and Kiev has had few options, limiting its response. President Putin has said the stepped-up air attacks are in direct retaliation to Ukraine’s own cross-border drone attacks on Russian oil facilities. Drones have also frequently been sent over Crimea.

President Volodymyr Zelensky issued an urgent appeal Sunday on X, writing that “Patriots can only be called air defense systems if they work and save lives rather than standing immobile somewhere in storage bases.”

Commenting on Ukraine’s ongoing pleading, one Western official was cited in FT as saying, “We all know who has them, we all know where they are, and we all know who really needs them.”

Only Germany has so far answered the call by lately providing a single Patriot battery. FT reported on back-to-back meetings of EU foreign and defense ministers of the last days, where it’s been decided that Greece and Spain’s anti-air systems aren’t really crucial to their homeland defense:

Other EU leaders used a summit in Brussels last week to personally urge Spanish and Greek prime ministers Pedro Sánchez and Kyriakos Mitsotakis to donate some of their systems to Ukraine, according to people briefed on the discussions.

The two leaders, whose armed forces possess between them more than a dozen Patriot systems plus others such as S-300s, were told their need was not as great as Ukraine’s and that they did not face any imminent threat.

An EU diplomat said, “There are countries that are not in immediate need of their air defense systems, to be very honest.” This as “Each country is being asked to decide what it can spare,” according to the statement. Countries like Poland or those in the Baltics and Eastern Europe are considered too vulnerable at this moment to be asked to give up their defenses.

EU foreign policy chief Josep Borrell is also ramping up the pressure, saying “I don’t have Patriots in Brussels, they are in the capitals, and it is up to them to take decisions.”

So this is what it has come to: first European populations are dubiously told that Putin is eyeing expansion of the war deeper into Europe, and next Western countries are told to make drastic decisions which severely weaken their own national security.

Greece in particular has faced long-running threats from Turkey, with the geopolitical rivals locked in a dispute over maritime territory which has at times very nearly resulted in a shooting war. This has happened on several occasions in the last couple of years. So certainly the Greek population is going to balk when EU leaders in faraway capitals lecture Greece about ‘not really needing’ anti-air protection. And if they are sent to Ukraine, there’s a chance they could be destroyed anyway.

END

EUROPE

Europe’s PMI service activity hits an 11th high but its manufacturing PMI gets worse. Europe’s strength is its manufacturing sector so this is no good for them

(zerohedge)

Euro Area PMI Activity Hits 11 Month High On Service Expansion As Manufacturing Recession Gets Worse

TUESDAY, APR 23, 2024 – 09:30 AM

Europe’s study in paradoxical contrasts continues. On the same day, ECB’s de Guindos said a June rate cut looks like a set deal (unless there are surprises) with the end of inflation fight is in sight, the Euro-area’s private-sector activity advanced to the highest level since May 2023, driven by a buoyant services sector and Germany’s return to growth; UK firms also reported the strongest growth in almost a year

Here are the details:

France

Services Flash PMI (Apr) 50.5 vs. Exp. 49.0 (Prev. 48.3);
Manufacturing Flash PMI (Apr) 44.9 vs. Exp. 47.0 (Prev. 46.2);
Composite Flash PMI (Apr) 49.9 vs. Exp. 48.8 (Prev. 48.3);
- “Overall, our HCOB nowcast model for the second quarter points to a recovery of the French economy, driven by the services sector”.

Germany

Manufacturing Flash PMI (Apr) 42.2 vs. Exp. 42.9 (Prev. 41.9);
Services Flash PMI (Apr) 53.3 vs. Exp. 50.5 (Prev. 50.1);
Composite Flash PMI (Apr) 50.5 vs. Exp. 48.6 (Prev. 47.7);
- “Factoring in the PMI numbers into our GDP Nowcast, we estimate that GDP may expand by 0.2%”.

Services PMI (Apr) 54.9 vs. Exp. 53.0 (Prev. 53.1);
Manufacturing PMI (Apr) 48.7 vs. Exp. 50.4 (Prev. 50.3);
Flash Composite PMI (Apr) 54.0 vs. Exp. 52.7 (Prev. 52.8)

Euro-Area

Services Flash PMI (Apr) 52.9 vs. Exp. 51.8 (Prev. 51.5);
Manufacturing Flash PMI (Apr) 45.6 vs. Exp. 46.6 (Prev. 46.1);
Composite Flash PMI (Apr) 51.4 vs. Exp. 50.8 (Prev. 50.3);
- “Considering various factors including the HCOB PMIs, our GDP forecast suggests a 0.3% expansion in the second quarter”.

Putting it all together, the Euro area composite flash PMI increased by 1pt to 51.4 in April, above the 50.7 consensus estimate, in expansion (>50) for the second straight month and the highest since May 2023. As shown in the chart below, the improvement in the composite index was skewed heavily towards the services sector, where the index rose (by 1.4pt) to 52.9, while the manufacturing PMI continued to sink.

Across countries, the improvement in the area-wide index was driven by Germany – which was above that key 50 expansion mark for the first time in 10 months driven by services (even as manufacturing continued to shrink, though at a slower pace than the month before) defying analysts who had expected another sub-par reading – and France, partially offset by a slight deceleration in the periphery.

In the UK, the composite flash PMI improved notably to 54.0, above consensus expectations of a decline, on the back of a pick-up in services activity, where the index grew by 1.8pt to 54.9, which was partly offset by a slowdown in manufacturing activity.

Commenting on the results, Goldman saw three main takeaways from today’s data.

First, there are continued improvement in the Euro area headline numbers, coupled with continued, but moderating, optimism for the upcoming year.
Second, the PMI price components ticked up in April, driven by both sectors, with the risks to cost inflation coming from higher wages and oil prices.
Lastly, the UK saw another month of expanding activity, also driven by the services sector, which should support growth momentum going forward.

While output prices ticked up only marginally in both the Euro area and the UK, it is important that firms’ pricing behavior remains supportive for the disinflationary process, Goldman’s economists noted.

The positive figures suggest that the euro area will probably expand by 0.3% in the second quarter, matching the rate of growth in the January-March period, said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. That’s a more upbeat prediction than the Bloomberg consensus, which sees just 0.1% growth at the start of the year, with data due on April 30.

“It appears that the recession was predominantly concentrated within the manufacturing sector, while the broader economy may have narrowly skirted such a downturn,” de la Rubia said. “The service sector may serve as a catalyst for the overall economy.”

After contracting in the final quarter of last year, Germany was long expected to have had a shallow recession over the winter. But the Bundesbank last week said output may have grown slightly in the first three months of the year because of a pickup in industrial production, exports and construction — meaning the country would avoid such a scenario.

De la Rubia agreed, saying a Nowcast model points to economic expansion of 0.1% in the first quarter followed by 0.2% in the second. German bonds fell across the curve and money markets reduced wagers on the scope for interest-rate cuts after data for the country were published. The two-year maturity, which is sensitive to changes in monetary policy, rose as much as three basis points to 2.99%.

The overall performance was also better in France, where activity remained broadly stable after contracting for 10 months. That development was also driven by services, where rising demand resulted in the first expansion in almost a year. New orders placed with factories fell at the steepest pace since January, increasing the wedge between manufacturers and services firms.

“The French services sector is the workhorse of the economy,” said Norman Liebke, an economist at Hamburg Commercial Bank. “French manufacturing output stays subdued, but we expect it will soon follow the path of the services sector. The manufacturing sector delays the overall economy’s recovery for now, though.”

But the better momentum in both countries was flanked by stronger price pressures, which as Bloomberg notes is a potential source of concern for European Central Bank officials who are gearing up for a first interest-rate cut in June. That development was also centered on the services sector, where rising wages are playing a bigger role. Diverging fortunes were equally visible in the labor market. While German and French services firms added workers at a quicker pace, factories shed jobs.

Overall though, the currency bloc’s top two economies couldn’t keep pace with the rest of the region, which appears to be recovering after the energy crisis that stifled its post-Covid rebound.

The rise in power costs — triggered by Russia’s war in Ukraine — also fanned inflation, though consumer-price growth has since slowed markedly. The purchasing-manager data showed that price pressures “intensified slightly” this month.

“The PMI figures are poised to test the ECB’s willingness to cut interest rates in June,” de la Rubia said. “Accelerated increases in input costs, likely driven not only by higher oil prices but also, more concerningly, by higher wages, are a cause for scrutiny. Concurrently, service-sector companies have raised their prices at a faster rate than in March, fueling expectations that services inflation will persist.”

Still, he doesn’t expect that to derail a well-telegraphed easing at the ECB’s next monetary-policy meeting. “However, we doubt that the central bank will adopt a ‘pragmatic speed,’ as suggested by Francois Villeroy de Galhau” de la Rubia said. “Instead, we expect a more cautious approach.”

As noted above, comments by ECB Vice President Luis de Guindos earlier on Tuesday reinforce that approach. “The level of uncertainty makes it very difficult to say,” he told Le Monde, according to a transcript on the ECB website. “I already mentioned June. As for what happens afterwards, I’m inclined to be very cautious.”

A separate set of data for the UK showed the economy’s recovery from recession unexpectedly gathered pace at the start of the second quarter as private-sector firms reported the strongest growth in almost a year. PMIs are closely watched by markets as they arrive early in the month and are good at revealing trends and turning points in an economy. A measure of breadth of changes in output rather than depth, business surveys can sometimes be difficult to map directly to quarterly GDP.

US figures later are set to show continued growth. Earlier numbers from Australia, India and Japan pointed to faster expansion.

5. RUSSIA AND MIDDLE EASTERN AFFAIRS.

ISRAEL//GAZA

IDF says troops launched ‘surprise operation’ Sunday evening in central Gaza corridor

MANUEL FABIAN FOLLOWToday, 3:06 pm

Troops operate in Gaza in an undated photo released by the military for publication on April 23, 2024. (Israel Defense Forces)

The IDF’s Nahal Brigade launched a new pinpoint operation against Hamas in the central Gaza Strip corridor earlier this week, which the military says is continuing amid the Passover holiday.

The IDF says the “surprise operation” that began Sunday night is aimed at “deepening the achievements” in the Netzarim corridor.

The corridor, built around a road south of Gaza City, enables the IDF to carry out raids in northern and central Gaza while allowing Israel to control access to the north for Palestinians seeking to return after fleeing south.Bomb shelters make good neighborsKeep Watching

“The forces are carrying out targeted raids and are thwarting terror in the area,” the IDF says in a statement.

Nahal troops spotted several gunmen amid the raid, and called in airstrikes by fighter jets against them and the buildings they were spotted operating at, according to the IDF. It adds that secondary explosions seen after the strikes indicate that the buildings were used to store munitions

END.

ISRAEL/HAMAS

Gaza War At 200 Days: IDF Pivots From Iran Threat Back To Hamas Operations

TUESDAY, APR 23, 2024 – 08:55 AM

Monday into Tuesday saw the Israel Defense Forces (IDF) intensify its operations in central and northern Gaza, following a cooling of tensions with Iran after the two almost went to war. Tuesday marks the 200th day of Israel’s war in Gaza, in response to the Oct.7 Hamas terror attacks.

“Israel bombarded northern Gaza overnight in some of the heaviest shelling in weeks, panicking residents and flattening neighborhoods in an area where the Israeli army had previously drawn down its troops, residents said on Tuesday,” Reuters reports.

This strongly suggests that even once the IDF has cleared an area, Hamas has the capability of moving back in – also given its capabilities utilizing Gaza’s vast tunnel network.

“Tanks made a new incursion east of Beit Hanoun on the northern edge of the Gaza Strip, though they did not penetrate far into the city, residents and Hamas media said. Gunfire reached some schools where displaced residents were sheltering,” Reuters continues.

Starting Sunday night, the IDF launched a ‘surprise operation’ in the central Gaza corridor, the military confirmed, happening over the Passover holiday:

The IDF says the “surprise operation” that began Sunday night is aimed at “deepening the achievements” in the Netzarim corridor.

The corridor, built around a road south of Gaza City, enables the IDF to carry out raids in northern and central Gaza while allowing Israel to control access to the north for Palestinians seeking to return after fleeing south.

“The forces are carrying out targeted raids and are thwarting terror in the area,” the IDF says in a statement.

The IDF confirmed the return of Hamas militants to areas which had previously been clear enough to halt operations.

erohedge.com/geopolitical/gaza-war-200-days-idf-pivots-iran-threat-back-hamas-operations

As for Rafah in the south, so far it seems the IDF’s planned offensive appears to be on pause. An estimated 1.5 million civilians are sheltering in the city, and the White House has urged the Netanyahu government not to attack it. Humanitarian aid groups currently say they don’t know what to expect.

The US has urged that Israel evacuate civilians first, but these plans are anything but clear at this point. “I have no idea what the plan with the procurement of tents by the Israelis is,” the head of the UN humanitarian office in Gaza, Andrea de Domenico, told Al Jazeera. Recent days have seen dozens of casualties due to shelling of some areas, but a full assault is expected to be a humanitarian nightmare for the refugees there.

END

ISRAEL/HEZBOLLAH/LEBANON

IDF strikes vehicle in southern Lebanon, kills two senior Hezbollah officials

IDF fighter jets attacked additional Hezbollah targets in the Yaroun area of southern Lebanon at the time of the targeted strike on the Hezbollah commander.

By JERUSALEM POST STAFFAPRIL 23, 2024 08:59Updated: APRIL 23, 2024 13:23

https://www.jpost.com/breaking-news/article-798330

The IDF killed Hassin Ali Ezkol, a terrorist and central member of Hezbollah’s aerial defense unit during a targeted strike on a vehicle he was riding in, the IDF confirmed on Tuesday.

According to the announcement, another unnamed senior Hezbollah terrorist was killed in the strike as well.

Additionally, fighter jets attacked a Hezbollah military building along other terrorist infrastructure in the Yaroun area in south Lebanon at the time of the targeted strike.

https://player.jpost.com/public/player.html?player=jpost&media=3701251&url=www.jpost.comIDF fighter jets attack Hezbollah infrastructure in southern Lebanon, April 23, 2024. (IDF SPOKESPERSON’S UNIT)

A separate threat in the Yaroun area was struck by IDF troops as well.

Sirens in Israel’s north

Additionally, the statement addressed sirens that sounded in the Metula area on Tuesday morning, alerting for rockets and missiles launches.

It was determined that the alarm had been activated due to a false identification.

end

ISRAEL/WESTBANK/

end

SYRIA/USA

A first: Syria confirms rare direct talks with Washington

(zerohedge)

Syria’s President Assad Confirms Rare Direct Talks With Washington

MONDAY, APR 22, 2024 – 09:00 PM

Via The Cradle

Syrian President Bashar al-Assad told the Foreign Minister of the south Caucasus republic Abkhazia during an interview published on 21 April that Damascus holds dialogue with Washington “from time to time.” In response to a question from Abkhazian Foreign Minister Inal Ardzinba on whether there has been an opportunity for Syria to “restore dialogue with the collective west,” Assad said: “America is currently illegally occupying part of our land, financing terrorism, and supporting Israel, which also occupies our land.”

“But we meet with them from time to time, although these meetings do not lead us to anything,” the Syrian president said, adding, however, that “everything will change.”

As part of regime change efforts against Damascus in 2011, Washington, along with Turkey, Gulf states, and several other countries, sponsored extremist groups with the aim of overthrowing the Syrian government.

With the help of Russia, Iran, and Lebanon’s Hezbollah, Damascus has regained control over large swathes of Syria, which were under the control of ISIS and other US-backed groups.

Under the pretext of fighting ISIS, the US army occupied Syrian oilfields in the north of the country in 2015 in coordination with its Kurdish proxy, the Syrian Democratic Forces (SDF) – one year after the launching of an international military coalition in Iraq and Syria.

In May 2023, a senior diplomatic official in the Arab League revealed exclusively to The Cradle that Washington and Damascus were holding secret, direct negotiations in the Omani capital of Muscat.

During the talks, Syrian officials mainly pressed for the complete withdrawal of US occupation troops from the country.

The diplomat added that “secret talks took place in previous years between Damascus and Washington, but most of them were through mediators, such as the former director general of the Lebanese General Security, Abbas Ibrahim. Direct meetings also took place between the two countries, one of which was in the Syrian capital, Damascus.” However, the number of direct meetings remained limited.

The secret talks in Muscat also touched on Austin Tice, a US citizen who entered Syria illegally via the Turkish border in 2012. Not long after, Tice disappeared in the territory of armed opposition groups that were fighting the Syrian government.

“There is always hope: even when we know there will be no results we must try,” he said when asked about the possibility of mending ties with the West. — Times of Israel

Middle East Eye

@MiddleEastEye

In response to the question about the possibility of mending ties with the West, Syrian President Assad said in a meeting, “There is always hope. Even when we know there will be no results, we must try”

Assad says Syria has held ‘meetings’ with US

From middleeasteye.net

During the Muscat talks, the source stressed that “the American envoy repeatedly confirmed that he has information that Austin Tice is alive and in a Syrian army detention center. However, the Syrian delegation insisted that it had no information about Tice, with Damascus expressing its readiness to make all possible efforts to reveal his fate.”

END

IRAN.USA

A first: Iraq minister states that it is resuming attacks on USA forces, one day after Iraqi minister has talks with the USA

(zerohedge)

Iran-Linked Iraq Militia Says It Is Resuming Attacks On US Forces

MONDAY, APR 22, 2024 – 06:40 PM

The prior period of constant attacks on US bases in Iraq and Syria which corresponded with the opening first half of Israel’s operations in Gaza could soon resume, after a Sunday incident saw at least five rockets fired on an American base in northeastern Syria.

The Iraqi militant group Kataib Hezbollah – which has close ties with Iran claimed responsibility, and more importantly announced that it is resuming attacks on US bases in the region.

President Biden Calls China ‘Xenophobic,’ Makes Case for US Strength

Reuters described that “Two security sources and a senior army officer said a rocket launcher fixed on the back of a small truck had been parked in Zummar border town with Syria.”

“The military official said the truck caught fire with an explosion from unfired rockets at the same time as warplanes were in the sky,” the report continued. There were no casualties, according to regional correspondents.

The military official subsequently said: “We can’t confirm that the truck was bombed by US warplanes unless we investigate it”—strongly suggesting the Pentagon’s response was almost immediate, and that air power was deployed.

Crucially, Sunday’s incident marked the first such attack on a US base since early February. At that time Iranian militia leaders ordered their fighters to temporarily stand down. That order held, given there hasn’t been any notable attack in two months before this weekend.

The Guardian notes further of the timing of this fresh attack:

It comes one day after Iraq’s prime minister, Mohammed Shia al-Sudani, returned from a visit to the United States and met with Joe Biden at the White House.

Iraq’s Kataib Hezbollah said Iraqi armed groups had decided to resume attacks on the US presence in the country after seeing little progress on talks to achieve the exit of American troops during al-Sudani’s visit to Washington.

“What happened a short while ago is the beginning,” the group said.

On Monday, following Sunday’s brief rocket attack on the US base near the Iraq-Syria border, there was another assault – on the Iraqi side of the border.

“Another attack on US forces in the region in the last hours, now on Al Assad base in Iraq,” according to Walla News, as cited in news wires. There are unverified reports of US military helicopters airborne over the area and that a response is ongoing

During the three to four months following the Oct.7 Hamas terror attack, there were an estimated over 150 drone and rocket attacks against US bases in Iraq and Syria. Among these was the attack which killed three Americans and wounded 40 others at an outpost along the Jordan-Syria border.

President Biden had in the wake of the Jordan outpost attack ordered airstrikes on Iran-linked militia positions, and following the tit-for-tat, Kataib Hezbollah’s stood down. However, events of this weekend strongly suggest things are about to ramp up again, also as Iraqi and Syrian government officials have long sought to see Pentagon troops finally expelled from their sovereign territories.

END

Congress Passes New Iran Oil Sanctions But Biden Unlikely To Enforce Them

MONDAY, APR 22, 2024 – 06:00 PM

Over the weekend, as part of the $95 billion package providing funding for aiding Ukraine, Israel and Taiwan which passed by a vote of 360-58 on Saturday, the US House also passed new sanctions on Iran’s oil sector set to become part of a foreign-aid package, putting the measure on track to pass the Senate within days.

The legislation, as Bloomberg reports, would broaden sanctions against Iran to include foreign ports, vessels, and refineries that knowingly process or ship Iranian crude in violation of existing US sanctions. It would also would expand so-called secondary sanctions to cover all transactions between Chinese financial institutions and sanctioned Iranian banks used to purchase petroleum and oil-derived products.

About 80% of Iran’s roughly 1.5 million barrels of daily oil exports are shipped to independent refineries in China known as “teapots,” according to a summary of similar legislation.

et while the sanctions could impact Iranian petroleum exports – and add as much as $8.40 to the price of a barrel of crude – they also include presidential waiver authorities, according to ClearView Energy Partners, a Washington-based consulting firm.

“President Joe Biden might opt to invoke these authorities, vitiating the sanctions’ price impact; a second Trump Administration might not,” ClearView wrote in a note to clients.

Amrita Sen, founder and research director of Energy Aspects, agreed and told Bloomberg Television in an interview that Biden’s Administration is unlikely to “strongly enforce” the restrictions in an election year.

“I think all sanctions are sanctions on paper, with anything that remotely causes oil prices to go up, I don’t believe they will enforce it strongly,” the research analyst told Bloomberg.

“What I really want to highlight is this is a US election year, so let’s not kid ourselves,” the analyst noted.

By not kidding ourselves, he meant that when it comes to democratic, liberal ideals, it’s all bullshit when they conflict with self-serving interests of the demented deep state puppet roaming the halls of the White House.

Moreover, China is buying most of Iran’s crude oil exports, and the majority of buyers in the world’s top crude oil importer are the independent refiners, the so-called ‘teapots’ in the Shandong province, which are not connected with the U.S. financial system in any way.

Therefore, the U.S. doesn’t have any means to enforce sanctions on China’s independent refiners for buying Iranian crude oil, Sen told Bloomberg. The teapots will continue to import Iran’s crude, while any new restrictions could take up to 500,000 barrels per day (bpd) of Iranian oil off the market, she added.

Crude oil exports from Iran hit the highest level in six years during the first quarter of the year, data from Goldman recently showed.

The daily average over the period stood at 1.56 million barrels, almost all of which was sent to China, earning the Islamic Republic some $35 billion.

“The Iranians have mastered the art of sanctions circumvention,” Fernando Ferreira, head of geopolitical risk service at Rapidan Energy Group, told the FT. “If the Biden administration is really going to have an impact, it has to shift the focus to China.”

Iran is producing record amounts of oil, enabling it to pay for missiles, drones and whatnot, as Biden refuses to enforce Trump’s sanctions against Iran oil exports afraid an oil price spike would further crush his approval rating

END

RUSSIA/UKRAINE/

6.Global Issues//COVID ISSUES

COVID ISSUES/VACCINE ISSUES//DRUG ISSUES

a must read..

(friends read free)

COVID Spike Proteins Help Cancer Cells Survive, Resist Chemotherapy: Brown University Preprint Paper

The p53 gene—the most commonly affected by cancer—stops cancer cell growth and encourages DNA repair.

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Save COVID Spike Proteins Help Cancer Cells Survive, Resist Chemotherapy: Brown University Preprint Paper (David A Litman/Shutterstock)

By Marina Zhang

4/22/2024

Updated:

4/22/2024PrintX 1

0:00

Spike protein from SARS-CoV-2, the virus that causes COVID-19, potentially promotes cancer by interfering with anti-cancer activities, according to a recent preprint cell study from Brown University.

The preprint authors, led by Dr. Wafik El-Deiry, director of the Cancer Center at Brown University, exposed cancer cells to spike protein subunits. They found that the spike subunits may promote cancer survival and growth by blocking a cancer suppressor gene known as p53.

The gene—the most commonly affected by cancer—stops cancer cell growth and encourages DNA repair.

“Interfering with p53 can promote cancer development as well as aid cancer growth,” Dr. El-Deiry told The Epoch Times.

When exposed to chemotherapy, cancer cells containing spike protein subunits had a better chance of survival.

“We saw enhanced cancer cell viability in the presence of SARS-CoV-2 spike S2 subunit after treatment with several chemotherapy agents,” said Dr. El-Deiry.

Spike Subunits Block Anti-Cancer Gene

The SARS-CoV-2 spike protein comprises two components: S1 and S2. In this study, the researchers tested the effects of the S2 component in several human cancer cell lines: lung, breast, colorectal, and sarcoma cancer cells

All cells were modified to include normal p53 genes, and some were introduced to spike protein S2 DNA.

The researchers then used chemotherapy drugs to activate the p53 genes and cause cancer cell death.

However, they found that cancer cells with spike protein S2 tended to survive the effects of the anti-cancer gene and chemotherapy. They also observed that p53 activity was reduced in these cells.

It is still unknown why cancer cells with spike protein S2 DNA had better survival rates. Dr. El-Deiry said it could be because S2 proteins seem to interfere with p53 activity. However, S2 proteins may also cause “other effects that promote cell survival” even in the presence of toxic chemotherapy.

COVID-19 Vaccines May Have Similar Effects

Dr. El-Deiry’s study was designed to test whether the SARS-CoV-2 virus or its viral subunits could promote cancer activities.

However, the study further implied that SARS-CoV-2 therapeutics like the COVID-19 mRNA and protein vaccines may yield similar effects.

“Our goal was to study spike protein regardless of its origin,” Dr. El-Deiry told The Epoch Times. “We focused on spike that may come from infection or any other way it can be expressed in human cells … this would also apply to vaccine-made spike.”

Dr. El-Deiry was careful to highlight the many limitations of his study, including that it was a simple cell culture study. Additionally, with differing spike variations in the different viral strains and vaccines, the health consequences they may have require more research.

More Thorough Studies Needed

When asked if human cancers carry the same risks when exposed to spike protein S2, Dr. El-Deiry said their current data are too preliminary to know.

He said additional animal studies would be needed to “more thoroughly [evaluate] cancer susceptibility.”

He would also like to examine the behaviors of normal cell types and their responses to different spike variants. He hopes that the spike proteins generated by future vaccines will not suppress p53 activity.

Dr. El-Deiry added that questions remain to be answered, such as whether these potential cancer-promoting effects are reversible, how long the spike proteins persist in the cells, and whether these risks can be mitigated.

“Some of the questions have relevance to long COVID as well as repeated administration of vaccines with stable RNA that introduces it into normal cells,” he said.

Several Studies Link Cancer to COVID-19 Pandemic

Several recent studies have shown a rise in cancer that coincides with the COVID-19 pandemic.

Two preprints investigating codes for cause of death found that in 2020, there was a slight increase in excess death from cancer neoplasms—new and abnormal tissue growth—according to data from the U.S. Centers for Disease Control and Prevention (CDC).

The excess mortality rate of neoplasms for young Americans was 1.7 percent in 2020. In 2021, this increased by almost threefold to 5.6 percent. In 2022, the excess neoplasm death rate increased to 7.9 percent.

“The results indicate that from 2021 a novel phenomenon leading to increased neoplasm deaths appears to be present in individuals aged 15 to 44 in the US,” authors of one of the preprints wrote, alluding to possible COVID-19 vaccine involvement.

Another follow-up report on older Americans presented similar findings.

A peer-reviewed Japanese study published in Cureus on April 8 observed a “significant increase“ in cancer deaths in Japan after mass vaccination with the third mRNA COVID-19 vaccine dose in 2022.

Common cancers had a decreasing excess mortality between 2010 and 2019, the authors wrote. There were also no excess cancer deaths in the first year of the pandemic. However, researchers observed an uptick in some types of cancers in 2021, with further increases in 2022, coinciding with mass vaccination efforts.

Of the cancer mortalities studied, the rise in breast cancer mortality rate was particularly significant, the authors found. Breast cancer had a substantial deficit in mortality in 2020 but shifted to excess mortality in 2022.

end

Japan had a high vaccination rate:

Excess Deaths in Japan Hit 115,000 Following 3rd COVID Shot; New Study Explains Why

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Save Excess Deaths in Japan Hit 115,000 Following 3rd COVID Shot; New Study Explains Why Medical workers push a trolley with boxes containing COVID-19 vaccines as Japan launches its inoculation campaign, at the Tokyo National Hospital in Kiyose, Tokyo prefecture, on Feb. 17, 2021. (Charly Triballeau/AFP via Getty Images)

By Joe Wang

4/22/2024

A new study on harms resulting from the COVID vaccine was published on April 8 in the U.S.-based peer-reviewed medical science journal Cureus. It represents the largest study to date on adverse effects of the COVID vaccine, and the results are shocking, to put it mildly.

In the study, titled “Increased Age-Adjusted Cancer Mortality After the Third mRNA-Lipid Nanoparticle Vaccine Dose During the COVID-19 Pandemic in Japan,” five Japanese scientists used an entire dataset of the country’s 123 million population (Japan has the highest vaccination rate in the world) to study excess cancer mortalities coinciding with mass COVID vaccination.

The authors also provide a sound explanation as to why these deaths occurred after the mRNA injection.

As a former vaccine researcher, I read the Cureus article with great interest. My fellow Epoch Times columnist, Megan Redshaw, has written an excellent article on this study. Here, I would like to highlight some points that I think are worth reiterating.

Excess Deaths Following the Third Shot

The study shows there were 1,568,961 total deaths in Japan in 2022. About 1,453,162 deaths were expected based on statistical predictions using pre-pandemic information, which means there were 115,799 excess deaths in 2022.

The 115,799 “age-adjusted excess number of deaths” in 2022 occurred after two-thirds of the Japanese population had received the third dose of COVID vaccine.

Based on Japan’s Ministry of Health data, I calculated that there were 39,060 COVID deaths reported in 2022. So, the majority of Japan’s excess deaths in 2022 were not caused by COVID infection, but rather are strongly associated with the vaccination.

Harm Done by the Vaccine, Not the Virus

The study shows that in 2020, after COVID-19 began to spread in Japan but before vaccination was available, the age-adjusted number of deaths was 28,000 fewer than what was predicted. And in 2021, as the virus continued and there was limited COVID-19 vaccination (it started in February), there were 25,000 more deaths than what was predicted.

Based on the number of excess deaths in 2022, the Japanese scientists concluded: “Statistically significant increases in age-adjusted mortality rates of all cancer and some specific types of cancer, namely, ovarian cancer, leukemia, prostate, lip/oral/pharyngeal, pancreatic, and breast cancers, were observed in 2022 after two-thirds of the Japanese population had received the third or later dose of SARS-CoV-2 mRNA-LNP vaccine.”

“These particularly marked increases in mortality rates of these ERα-sensitive cancers may be attributable to several mechanisms of the mRNA-LNP vaccination rather than COVID-19 infection itself or reduced cancer care due to the lockdown,” the authors wrote.

In plain English, this study revealed the mRNA COVID jab is likely the cause of the extra deaths that occurred in Japan.

6 Types of Cancer Had Significant Excess Deaths

The study presented the numbers for all-cause death, but also looked into the details of deaths caused by cancer. It found that of the 20 types of cancer, six of them—ovarian, leukemia, prostate, lip/oral/pharyngeal, pancreatic, and breast cancer—had statistically significant excess mortalities in 2021 and increased further in 2022.

The significant increase in mortalities for the six specific cancer types cannot be blamed on a shortage of health-care services during the pandemic. Reduced cancer screening and health care due to lockdowns should increase deaths for all cancers. However, such an increase was not observed in other types of cancers in Japan in 2022.

So what is so special about the six specific cancer types? They are all known as estrogen receptor alpha (ERα)-sensitive cancers.

The scientists explained why these cancers not only occurred after vaccination, but also killed people in a short period of time after they received the shot.

Cancer After the Jab: A Scientific Explanation

I worked as a research scientist at Sanofi Pasteur, one of the world’s largest vaccine companies, for more than 10 years. As the person who spearheaded Sanofi’s SARS-CoV-1 vaccine development in 2003, I personally found the hypothesis presented by the Japanese scientists very reasonable.

Please bear with me on the scientific terms, because they are important in understanding the possible roles the mRNA vaccine may have played in cancer development.

ERs (estrogen receptors) are a group of proteins found inside cells. They are receptors that can be activated by the sex hormone estrogen. ERα is one of the two classes of ERs, an important regulator in the body’s reproductive system.

Research published in the peer-reviewed journal Science Advances in November 2022 screened 9,000 human proteins to see which protein binds better with the spike (S) protein of SARS-CoV-2, and found the S protein specifically binds to ERα. The binding “upregulates the transcriptional activity of ERα.”

In other words, the S protein of SARS-CoV-2 (from infection or vaccination), when introduced into the human body, binds to ERα and functions as a nuclear receptor coregulator, interfering with the cell’s normal function and leading to malfunction of the cells and organs.

This may explain why death caused by the six types of ERα-sensitive cancers increased in 2022 in Japan after two-thirds of the population received the third dose of the mRNA vaccine.

The vaccine carries the S gene of SARS-CoV-2, hijacking the host cells to produce S proteins. The S proteins produce inside the cell, then bind to ERα, disrupting the cell’s normal function and leading to cancer development.

Cancer is a disease in which some of the body’s cells grow uncontrollably and spread to other parts of the body.

For any healthy person, some cells die, some age, and some become cancerous. All this happens without the person knowing it because the body’s immune system is constantly working to deal with such problems. However, if the immune system is compromised, illness then develops, including cancer.

Plenty of evidence has started to emerge showing that the COVID-19 vaccine has the potential to severely interfere with the human body’s immune system. This new Japanese study provides further evidence of the extent of this phenomenon.

Vaccination and Suppression of Cancer Immunosurveillance

It has been shown the mRNA vaccine not only has the potential to cause cancer, it may also weaken the immune systems’ ability to recognize and repress cancerous tumours.

In a study published last October, Konstantin Fohse and colleagues reported vaccination with BNT162b2 modulated innate immune responses, resulting in a weakened cancer immunosurveillance.

The damage caused by COVID vaccines would have been less if the vaccination wasn’t as widespread, and the dosage of the vaccines were not as high due to boosters.

The Japanese scientists found that for each Pfizer-BioNTech dose, there are about 13 trillion SARS-CoV-2 mRNA-LNP molecules. For Moderna, the number is 40 trillion. Since the average human body has about 37.2 trillion cells, one COVID-19 mRNA-LNP dose would have enough molecules to spread into each and every human cell.

As I wrote previously, contrary to what the Centers for Disease Control and Prevention’s claim that “after the body produces an immune response, it discards all of the vaccine ingredients” because uridines in normal RNA are now replaced with pseudo-uridines in this COVID-19 mRNA-LNP, we know the modified RNA now lives in the body for months and can even find its way into babies through breast milk.

The Japanese study was written before October 2023 using information from 2022 and earlier. As COVID vaccination continues in many countries, it is scary to think how many people may die or develop cancer if the 2022 trend continues.

Uncertain Future

As authorities across the world still claim that the COVID-19 vaccine is “safe and effective” and continue pushing vaccination, it is uncertain what the future holds.

This is because the COVID-19 mRNA-LNP molecules already in the bodies of hundreds of millions of people will remain there and continue producing the S protein, interfering with the immune system and causing cancer and other diseases.

Studies like the one by the Japanese scientists should have been undertaken in countries such as the United States, Canada, and the UK and published in top medical journals without censorship so that we can learn from mistakes and prevent the mistakes from happening again. Unfortunately, that has not happened.

However, hopefully more and more scientists and researchers will be brave enough to point out the very obvious: that the COVID-19 vaccine is not safe.

It is worth noting that the Cureus medical journal was recently acquired by the Springer Nature Group in December 2022. The group also owns renowned scientific publications such as Nature and Nature Medicine.

COVID vaccine injury has been a taboo subject for scientists and medical journals. Many people were cancelled when they tried to defy the censorship. It is refreshing to see Springer Nature publish the Japanese study.

GLOBAL ISSUES//GLOBAL SALES

end

MARK CRISPIN MILLER

END

DR PAUL ALEXANDER

Why the hell, the EFF, must these evil crooks in congress take US tax-payer money to give to Taiwan, Israel, Ukraine? Why can’t these nations use their own money? This is a corrupt slush kickback

scheme; these nations have money, these are 1st world nations, Ukraine’s pump-wearing TRANNY leader has already stolen enough of our tax-payer money…why more? Johnson? Traitor?

DR. PAUL ALEXANDERAPR 23

READ IN APP

Saturday's vote marks a win for Speaker Mike Johnson, R-La., who nonetheless faces an existential threat to his job.

end

Anthony Fauci: did he CREATE HIV? Was HIV/AIDS created by some deranged science by Fauci & his research NIAID/NIH/FDA boys & girls? Is this why Fauci destroyed BACTRIM (for pneumocystis pneumonia-PCP)

it was of BENEFIT, for the deadly AZT that killed so many, killed so many gays??? Fauci has blood on his hands re HIV/AIDS certainly in his role in the bactrim/AZT disaster; antibiotic bactrim treated

DR. PAUL ALEXANDERAPR 23

READ IN APP

pneumocystis pneumonia-PCP and treated it successfully, yet Fauci refused to allow it and pushed AZT that killed thousands.

SLAY NEWS

EVOL NEWS

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIESTop Experts Warn of Massive Death Wave Among Vaxxed Several of the world’s leading virologists and immunologists have issued a grim warning of a looming massive death wave that will wipe out most of the Covid-vaccinated population.READ THE FULL REPORT Top Doctor Apologizes for Pushing Covid Shots as Patients Drop Like Flies A pro-vaccine doctor has issued a heartfelt apology after seeing a wave of sudden deaths among his patients that he pushed into taking Covid mRNA shots.READ THE FULL REPORT Biden Struggles to Get Through Campaign Speech Additional video clips of President Joe Biden have gained significant attention on social media platforms, as he appeared to encounter difficulties while delivering a speech at the International Brotherhood of Electrical Workers (IBEW) construction and maintenance conference in Washington D.C.READ THE FULL REPORT Democrats Step In to DEFEND RINO House Speaker Representative Ro Khanna (D-CA) stated during an appearance on ABC’s “This Week” that he is in favor of tabling any motion to remove House Speaker Mike Johnson (R-LA) from his position.READ THE FULL REPORT Shock Videos: Far-Left Rioters TEAR Down American Flags Yale University witnessed a distressing incident on Friday night, as anti-Israel protesters took down an American flag, leaving Jewish students and the university community feeling intimidated.READ THE FULL REPORT VIEW MORE NEWS

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

7.OIL PRICES/GAS PRICES/OIL ISSUES

end

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR: 1.0669 UP .0015

USA/ YEN 154.758 DOWN 0.029 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.23284 UP .0035

USA/CAN DOLLAR: 1.3708 UP .0009(CDN DOLLAR DOWN 9 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 22.62 PTS OR 0.74%

Hang Seng CLOSED UP 317.24PTS OR 1.92%

AUSTRALIA CLOSED UP 0.45%

// EUROPEAN BOURSE: ALL MOSTLY GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 287.58PTS OR 1.77%

/SHANGHAI CLOSED DOWN 22.62PTS OR 0.74%

AUSTRALIA BOURSE CLOSED UP 0.45%

(Nikkei (Japan) CLOSED UP 113.55 PTS OR 0.30%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2301,70

silver:$26.92

USA dollar index early TUESDAY morning: 10586 DOWN 5 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.113% DOWN 2 in basis point(s) yield

JAPANESE BOND YIELD: +0.887% UP 0 AND 7/100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.260 DOWN 0 in basis points yield

ITALIAN 10 YR BOND YIELD 3.794 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.4875 DOWN 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.0706 UP 0.0052 or 52 basis points

USA/Japan: 154.71 DOWN 107 OR YEN IS UP 11 BASIS PTS

Great Britain/USA 1.2452 UP .01022 OR 102 BASIS POINTS //

Canadian dollar UP .0043 OR 43 BASIS pts to 1.3656

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed UP ON SHORE CLOSED DOWN AT 7.2452

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2567)

TURKISH LIRA: 32.57 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.887…

Your closing 10 yr US bond yield DOWN 4 in basis points from MONDAY at 4.580% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.700 DOWN 2 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.931 DOWN 4 BASIS PTS.

GOLD AT 11;30 AM 2321,00

SILVER AT 11;30: 27.22

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

London: CLOSED UP 20.94PTS OR 0.20%

German Dax : CLOSED UP 276.85PTS OR 1.56%

Paris CAC CLOSED UP 65.42 PTS OR 0.81%

Spain IBEX CLOSED UP 185.20 PTS OR 1.20%

Italian MIB: CLOSED UP 638,83 PTS OR 1.89%

WTI Oil price 82.10 12: EST/

Brent Oil: 87.10 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 93.20 ROUBLE UP 0 AND 26/100

GERMAN 10 YR BOND YIELD; +2.4875 DOWN 1 BASIS PTS.

UK 10 YR YIELD: 4.285 UP 5 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0703 UP .0049 OR 349BASIS POINTS

British Pound: 1.2449 UP .0099 or 99 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.2700 UP 4 BASIS PTS//

JAPAN 10 YR YIELD: .887

USA dollar vs Japanese Yen: 154. 80 DOWN0 .0009 /YEN UP 9 BASIS PTS//

USA dollar vs Canadian dollar: 1.3662 DOWN .0037 CDN dollar UP 37 BASIS PTS

West Texas intermediate oil: 83.31

Brent OIL: 88.40

USA 10 yr bond yield UP 1 BASIS pts to 4.619%

USA 30 yr bond yield UP 1 BASIS PTS to 4.730%

USA 2 YR BOND: DOWN 4P TS AT 4.927

USA dollar index: 105.52DOWN 39 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 32.56(GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 93.13 UP 0 AND 34/100 roubles

GOLD 2,323.1553:30 PM

SILVER: 27,2313:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 263.71PTS OR 0.69%

NASDAQ UP 260.59 PTS OR 1.54%

VOLATILITY INDEX: 15.84.DOWN1.810PTS OR 6.89%

GLD: $215.04DOWN 0.53 OR 0.25

SLV/ $24.99UP 0.06 OR 0.24%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Bonds & Stocks Bid As ‘Bad News’-Buyers Trump CTA-Sellers

TUESDAY, APR 23, 2024 – 03:19 PM

‘Bad news’ was certainly good news today as ‘soft’ survey data showed the US Manufacturing sector dropping back into contraction (<50) and Services sliding too (with pries rising), sending US MAcro Surprise dats slumping..

Source: BloombergUnmuteAdvanced SettingsFullscreenPauseRewind 10 SecondsUp Next

https://imasdk.googleapis.com/js/core/bridge3.636.0_en.html#goog_1227387252

That gave 2024 rate-cut odds a small lift…

Source: Bloomberg

..which seemed all the markets wanted to be able to extend yesterday’s big squeeze as stocks soared from the open… The Dow was the laggard on the day with Small Caps the biggest gainer, but all the majors ended green…

0-DTE traders faded the opening ramp aggressively but were force to cover as the afternoon wore on. Notably the positive delta flow from 0-DTE did nothing to boost stocks suggesting there were ‘fundamental’ sellers offsetting that flow…

Source: SpotGamma

Yesterday’s ‘short squeeze’ was dwarfed by today’s extending the gains from yesterday’s lows in the ‘most shorted’ basket to today’s highs to over 6%… – the biggest two-day squeeze since late-Feb. We do note that in context, this is not so impressive, but every trend starts as a reversal…

Source: Bloomberg

MAG7 stocks rallied again, but were unable to get back to even on the week and started to run out of steam into close ahead of TSLA’s earnings…

Source: Bloomberg

Continuing the trend of the last two days, Goldman’s trading desk noted that hedgies were buying and long-only’s were selling:

Our floor is skewed 6% better to buy overall with HFs driving most of our flows. The HF demand is a function of Info Tech Buying (again… mix of LC Tech, semis, select SW), Discretionary demand (mostly e-commerce), Industrials, Comms Svcs, Energy, and Staples… Hcare is the only Sector being sold by HFs. Short Ratios are moderate to low today
LOs are selling Info Tech (pockets of SW), Energy selling, Comm Svcs, Fins.

Additionally, they highlighted the following chart showing the number of Nasdaq components below their 50DMA was at the same levels as the October 2023 swing lows as we rip here…

Source: Bloomberg

Notably, Goldman’s ‘Vol Panic’ Index is off the highs… but not by much (ahead of thee big event risk this week)…

Source: Bloomberg

Treasuries were mixed by the close (with 30Y +1bps, 2Y -5bps), but all well off their overnight (pre-bad-news) high yields of the day…

Source: Bloomberg

Once again, 5.00% was too much for the 2Y yield to handle…

Source: Bloomberg

The yield curve steepened dramatically, off pre-CPI levels from last week…

Source: Bloomberg

The dollar dived on the (dovish) bad news, back to Thursday’s lows…

Source: Bloomberg

USDJPY just couldn’t get it together. Twice they tried to rally the JPY against the USD and twice they failed (just look at last Friday too)… Jawboning is just not doing it guys…

Source: Bloomberg

Gold ended the day basically unchanged having recovered from yesterday evening’s puke…

Source: Bloomberg

Bitcoin also ended the day unchanged, around $67,000…

Source: Bloomberg

Oil prices traded a perfect ‘V’ today, dumping overnight *WTI testing an $80 handle) before finding support and ramping up above $83…

Source: Bloomberg

Finally, tonight brings us TSLA earnings… 0-DTE traders were buying into the close…

Source: SpotGamma

…and the vol market is ready!!

Source: Bloomberg

…implying a one-day move in stocks of +/-8%-plus!

END

MORNING TRADING/

AFTERNOON TRADING/

II USA DATA

US PMIs Scream Stagflation As Manufacturing ‘Contracts’, Prices Rise, Heaviest Job Cuts Since GFC

TUESDAY, APR 23, 2024 – 10:08 AM

After a mixed bag from preliminary April European PMIs (Services strong-er, Manufacturing weaker-er, surging prices)…

“Accelerated increases in input costs, likely driven not only by higher oil prices but also, more concerningly, by higher wages, are a cause for scrutiny Concurrently service-sector companies have raised their prices at a faster rate than in March, fueling expectations that services inflation will persist. ”

and after March US PMIs exposed the end of the disinflation narrative…

“Most notable was an especially steep rise in prices charged for consumer goods, which rose at a pace not seen for 16 months, underscoring the likely bumpy path in bringing inflation down to the Fed’s 2% target. ”

…S&P Global’s preliminary US f°r April just dropped and they were ugly with both Manufacturing and Services disappointingly dropping further as the former dropped back into contraction:

• Flash US Services Business Activity Index at 50.9 (Exp: 52.0; March: 51.7) – 5-month low.
• Flash US Manufacturing PMI at 49.9 (Exp 52.0; March: 51.9) – 4-month low.

Source: Bloomberg

Commenting on the data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:

“The US economic upturn lost momentum at the start of the second quarter, with the flash PMI survey respondents reporting below-trend business activity growth in April. Further pace may be lost in the coming months, as April saw inflows of new business fall for the first time in six months and firms’ future output expectations slipped to a five-month low amid heightened concern about the outlook.

“The more challenging business environment prompted companies to cut payroll numbers at a rate not seen since the global financial crisis if the early pandemic lockdown months are excluded.

After March showed accelerating prices, flash April data confirmed the trend

“Notably, the drivers of inflation have changed.

“Manufacturing has now registered the steeper rate of price increases in three of the past four months, with factory cost pressures intensifying in April amid higher raw material and fuel prices, contrasting with the wagerelated services-led price pressures seen throughout much of 2023.”

So slower growth and much faster inflation – that does not sound like a recipe for rate-cuts… in fact quite the opposite.

TUCKER CARLSON…

END

III USA ECONOMIC COMMENTARIES

the decay of American life

(zerohedge0

“Our Cities Turn Into War Zones Every Night”

MONDAY, APR 22, 2024 – 07:20 PM

From coast to coast, radical prosecutors and progressive politicians have been pushing illogical criminal justice policies that not only have backfired but transformed many once-safe Democrat-controlled cities into crime-ridden hellholes.

Go down the list of cities. Whether it’s New York City, Philadelphia, Baltimore, Washington, DC, Chicago, or San Francisco, and the list goes on and on – these metros are plagued with violent crime, out-of-control youth, carjackings, murders, drug crises, the homelessness crisis, theft waves, and unvetted migrants.

he latest sign some of the bluest American cities continue their transformation into ‘war zone’-like conditions while progressive lawmakers ignore law and order is an illegal “teen takeover” event in Democratic-controlled Memphis, Tennessee.

On Saturday evening, Memphis police initially reported 16 people were shot during a block party in the 2400 block of Carnes Avenue in the Orange Mound neighborhood. It was later reported that five victims had gunshot wounds – two males were pronounced dead at the scene, and three others were taken to the hospital in critical condition.

X video shows the moment when a Chevrolet Corvette was burning out in the middle of the street. Gunfire erupted, and everyone ducked for cover.

zerohedge.com/political/our-cities-turn-war-zones-every-night

Lord Bebo

@MyLordBebo

Sixteen people just got shot at a “teen takeover” in Memphis!

4:54 AM · Apr 21, 2024

Our cities turn into war zones every night and weekend, but the media refuses to even talk about it,” X user End Wokeness said.

X user SaltyGoat said, “I’m willing to bet if there was a red MAGA hat anywhere in the crowd, it’d be all over the news.”

The explosion of illegal teen takeover events nationwide is happening at a time when the youth is not respecting the law – thank Democrats for this phenomenon.

According to Bloomberg data, there has been a surge in “teen takeover” news stories in corporate media since the start of 2023.

Last night, Elon Musk said on X, “My politics are (I think) fairly moderate anyway.”

He told X users he just wants safer cities and secured borders, among other common-sense points that Democrats are failing to deliver.

My politics are (I think) fairly moderate anyway. – Safe cities – Secure borders – Neutral judiciary – Sensible spending – Pro environment

10:04 PM · Apr 20, 2024

579.9K Vie

Most Americans agree that safer cities and secured borders are critical to the nation. However, Democrats are oddly failing on this – and one has to wonder if there’s a secret agenda at play.

end

Which Major City Will Completely Collapse First – Los Angeles, Chicago, Or New York City?

Authored by Michael Snyder via The End of The American Dream blog,

In 2024, virtually all major U.S. cities have certain things in common. First of all, if you visit the downtown area of one of our major cities you are likely to see garbage, human excrement and graffiti all over the place. As you will see below, some of our core urban areas literally look like they belong in a third world country. Most of our politicians don’t seem too concerned about doing anything to clean up all the filth, and so it shouldn’t be a surprise that rat populations are absolutely exploding all over the country. In some of our largest cities, the total rat population is numbered in the millions. Meanwhile, rampant theft, out of control violence, endless migration, predatory gangs and the worst drug crisis in the entire history of our nation have combined to create a “perfect storm” of social decay that is unlike anything that any of us have ever seen before. Millions of law-abiding citizens and countless businesses have been fleeing America’s largest cities, and property values in our core urban areas have been absolutely crashing. We really are in the early stages of a full-blown societal “collapse”, and things just keep getting worse with each passing day.

In this article, I want to focus on the three largest metropolitan areas in the United States: New York, Los Angeles and Chicago.

John Williams recently took his camera with him as he walked through downtown Los Angeles, and he described what he witnessed as “hell”…

Decades of failed policies have transformed one of the greatest cities in the entire country into one of the worst.

At this point, theft has become so rampant that even the ultra-progressive politicians in California have come to the conclusion that something must be done.

So several bills that would “crack down on shoplifting” have been introduced in the state legislature…

Shoplifters beware.

The California Assembly has introduced a comprehensive package of seven bills aimed at addressing the rising concerns over retail theft across the state.

One of the key initiatives is Assembly Bill 2943, jointly authored by Assemblymember Rick Chavez Zbur (D) and Speaker Robert Rivas (D). The bill targets serial retail thieves by introducing a new crime with penalties of up to three years behind bars for possession of stolen property with intent to resell. It also allows for the aggregation of similar thefts from different victims to charge grand theft, under specific criteria.

Hopefully something will get done, because right now a criminal in the state of California can “literally walk into a retail store every single day of the year and steaI $949 worth of merchandise” and never spend a single minute in jail.

Los Angeles has become a paradise for shoplifters, but many would argue that things are even worse in the Big Apple.

As I discussed a few days ago, New York City has “a $4.4 billion shoplifting economy”.

And approximately 90,000 packages are stolen in New York City every single day.

This is just one of the reasons why we have seen a mass exodus.

Countless New Yorkers have already left for greener pastures, and lots more are thinking of leaving…

About 7 million New Yorkers plan to leave the state, a new survey revealed this month.

In a new Marist poll, 37 percent of New Yorkers—roughly 7 million people—said they plan to move away. The number was slightly more concentrated among Republicans, as 46 percent said they plan to leave the state compared to just 29 percent of Democrats.

Unsurprisingly, many of those that are fleeing are heading to Florida…

For many, Florida remains one of the top places to move, but Southern states in general have been recording the biggest influx in transplants.

According to Realtor.com, Philadelphia, Miami, Atlanta, Tampa and Orlando remain some of the top locations for New Yorkers to start again.

I wouldn’t want to live in the Big Apple either.

The rat problem alone would be enough for me to move.

It just continues to escalate, and politicians are now proposing to use “rat contraceptives” to deal with “the millions of rats lurking in subway stations and empty lots”…

In New York City, the idea to distribute rat contraceptives got fresh attention in city government Thursday following the death of an escaped zoo owl, known as Flaco, who was found dead with rat poison in his system.

City Council Member Shaun Abreu proposed a city ordinance Thursday that would establish a pilot program for controlling the millions of rats lurking in subway stations and empty lots by using birth control instead of lethal chemicals. Abreu, chair of the Committee on Sanitation and Solid Waste Management, said the contraceptives also are more ethical and humane than other methods.

Unfortunately, New York City doesn’t have the worst rat problem in America.

That title actually belongs to the city of Chicago…

Chicago has once again been declared the rattiest city in the U.S. according to Orkin’s annual ranking.

Los Angeles surpassed New York on this year’s list now holding the #2 spot and bringing the Big Apple down to #3, Orkin shared.

Other notable shifts included Houston, which moved 10 spots up to #20, and Charlotte, North Carolina that rose 16 spots to #21.

Somehow, the rat problem in Chicago has gone to an entirely new level in 2024.

In fact, one local resident says that it is now the worst that she has ever seen in her entire lifetime…

A resurgence of rats has gotten out of control in Chicago’s Portage Park neighborhood, multiple residents explained Friday as they called for city leaders to take further action.

Diana Gazda, a resident of the Far Northwest Side community for seven decades, said she has never seen an infestation like it.

“We never had a rat problem like this,” she stated. “I’ve been here 71 years in my house.”

In addition to being world famous for rats, the Windy City is also world famous for violence.

In Chicago, you can be gunned down at any time of the day or night.

Nobody is safe, and that is especially true for police officers…

A Chicago police officer was shot to death early Sunday in Gage Park on the Southwest Side in what sources are saying was an apparent carjacking.

Officers responded to a ShotSpotter alert about 2:55 a.m. and found Officer Luis Huesca with multiple gunshot wounds in the 3100 block of West 56th Street, a police spokesperson said in a statement.

Huesca, 30, was driving home from work, according to city officials. Huesca, who was still wearing his uniform, was taken to University of Chicago Medical Center, where he was pronounced dead.

So which of these cities will completely collapse first?

I think that is a very good question.

They are all headed downhill very rapidly, and they are all being run by radical leftists.

Of course the exact same things could be said about dozens of other U.S. cities.

For years, I have been warning my readers about the “cultural transformation” that has been taking place in America.

How we raise our kids really matters.

We have been failing them for decades, and now the consequences can be very clearly seen in the streets of our major cities.

A horrific societal collapse is upon us, and yet this nation continues to refuse to change direction.

* * *

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

END

Bidenomics a total bust…

(zerohedge)

Biden’s America: 40% Of Renters Think They’ll Never Own A Home, Up From 27% Last Year

TUESDAY, APR 23, 2024 – 09:40 AM

Bidenomics 101: the American dream of owning a home has become the American nightmare for almost half the US population.

As housing specialist Redfin reports, rising home prices and mortgage rates “are making it harder to believe in the American dream of homeownership. Lack of affordability is the most commonly cited reason renters don’t believe they’ll ever own a home.“

The details are dire: Nearly two in five (38%) U.S. renters don’t believe they’ll ever own a home, up from roughly one-quarter (27%) less than a year ago.

This is according to a Redfin-commissioned survey of roughly 3,000 U.S. residents conducted by Qualtrics in February 2024. This report focuses on the 1,000 respondents who indicated they are renters. The relevant questions were: “Do you believe that you will ever own your own home in the future?” and “Which of the following are reasons you aren’t likely to purchase a home in the near future?” The 27% comparison is from a Redfin survey conducted in May and June 2023.

Lack of affordability is the prevailing reason renters believe they’re unlikely to become homeowners. Nearly half (44%) of renters who don’t believe they’ll buy a home in the near future said it’s because available homes are too expensive. The next most common obstacles: Ability to save for a down payment (35%), ability to afford mortgage payments (33%) and high mortgage rates (32%). Roughly one in eight (14%) simply aren’t interested in owning a home.

Buying a home has become increasingly out of reach for many Americans due to the one-two punch of high home prices and high mortgage rates. First-time homebuyers must earn roughly $76,000 to afford the typical U.S. starter home, up 8% from a year ago and up nearly 100% from before the pandemic, according to a recent Redfin analysis. Home prices have skyrocketed more than 40% since 2019, due to the pandemic homebuying frenzy and a shortage of homes for sale. And the current average 30-year fixed mortgage rate is 6.82%. While that’s below the 23-year-high of nearly 8% hit in October, it’s still more than double the record low rates dropped to in 2020.

Home prices have risen 7% in the last year alone, and monthly mortgage payments have risen more than 10%, which helps explain why renters today are more likely than they were last year to say they don’t see themselves owning a home anytime soon.

Many renters can’t fathom homeownership because they’re already struggling to afford their monthly housing costs. Nearly one-quarter (24%) of renters say they regularly struggle to afford their housing payments, and an additional 45% say they sometimes struggle to do so.

Rents have soared over the last few years because so many people moved during the pandemic, upping demand for rentals. The median U.S. asking rent is roughly $2,000, near the record high hit in 2022–but the good news for renters is that prices aren’t growing nearly as fast as they were during the pandemic, partly because an influx of apartment supply is taking some of the heat off prices.

“Housing costs are high across the board, but renting is a more affordable and realistic option for many Americans right now–especially those who have never owned a home and aren’t able to tap into equity from a previous sale,” said Redfin Chief Economist Daryl Fairweather. “While owning a home is usually a sound longterm investment, the barriers to entry and upfront costs of buying are higher than renting. Buying typically requires a sizable down payment and approval for a mortgage–things that are difficult for many people today, when the typical down payment is near $60,000 and mortgage payments are sky-high. The sheer expense of purchasing a home is causing the American Dream of homeownership to lose some of its shine.”

Gen Z renters are most likely to believe they’ll own a home

Broken down by generation, Gen Z renters are by far the most likely to believe they will become homeowners (maybe it’s because they are also the dumbest). Just 8% of Gen Z renters believe they’ll never own a home, compared to 22% of millennials, 40% of Gen Xers and 81% of baby boomers.

end

Homebuyer Payment Hits Record High As Mortgage Rates Climb Back Above 7% For The First Time In 2024

TUESDAY, APR 23, 2024 – 06:55 AM

Mortgage rates in the United States climbed to the highest level since November 2023 last week, as higher-than-expected inflation readings have dashed hopes of the Fed starting to cut rates soon.

As Statista’s Felix Richter reports, according to Freddie Mac, the average rate for a 30-year fixed mortgage increased to 7.10 percent in the week ended April 18, making it difficult for many would-be homebuyers to afford a house.

Infographic: Mortgage Rates Climb Past 7% for the First Time in 2024 | Statista

You will find more infographics at Statista

Along with the Fed’s aggressive rate hikes, mortgage rates have climbed by almost 4 percentage points since the beginning of 2022, threatening to push more and more potential buyers out of the market, especially as high rents and other costs of living make it increasingly difficult to save for a significant down payment.

Making things even more difficult, high mortgage rates don’t just affect the demand side of the market.

Supply is also constrained as prospective sellers stay put to avoid taking out a new mortgage at a much higher rate than their current one.

Source: Bloomberg

This in turn has kept home prices elevated, or at least kept them from fully reflecting the significantly higher mortgage rates compared to two years ago.

“When rates go up, people hunker down and don’t spend,” mortgage broker Rocke Andrews told Realtor.com.

“They’ve been told for so long that rates are coming down, so they just postpone.”

And they made need a little more patience.

Last week, Fed chair Jerome Powell said that policymakers were in no rush to cut rates, making it unlikely for mortgage rates, which tend to follow the same trajectory as the Fed’s policy rate, to come down meaningfully anytime soon.

In fact, according to brokerage Redfin, U.S. homebuyers face the prospect of having to pay a “record” amount in monthly mortgage payments to buy a house amid extremely high prices and elevated mortgage rates.

“The median U.S. home-sale price increased 5 percent from a year earlier during the four weeks ending April 14, bringing it to $380,250 – just $3,095 shy of June 2022’s all-time high,” said an April 18 press release from Redfin.

“The average daily mortgage rate this week surpassed 7.4 percent, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts will be delayed.”

The 12-month inflation had jumped 0.3 percent, to 3.5 percent in March.

“The combination of high mortgage rates and prices have brought homebuyers’ median monthly housing payment to a record $2,775, up 11 percent year over year.”

According to a recent analysis by Bankrate, Americans now need an annual income of $110,871 to afford a median-priced home of $402,343. This is an almost 50 percent increase over a period of just four years.

A six-figure annual income is now mandatory to afford a median-priced home in 22 states and the District of Columbia.

Four years ago, only six states and the District of Columbia had such a high requirement.

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…

end

iiiC USA COVID //VACCINE ISSUES

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

No Evidence FBI Used Counterterrorism Tactics on Catholics: Government Watchdog Report

MONDAY, APR 22, 2024 – 05:00 PM

Authored by Matt McGregor via The Epoch Times (emphasis ours),

An independent governmental watchdog investigation concluded that there was no evidence to support that the FBI was targeting Catholics based on a leaked memo.

he Department of Justice’s Office of the Inspector General (OIG) issued a congressional report on Thursday outlining its findings in a 120-day investigation into a 2023 FBI memo that implied a link between Catholicism and violent extremism.

end

Black and Hispanic voters continue in large numbers to support Trump

(zerohedge)

‘Its The Economy, Stupid!’ Black And Hispanic Voters Embrace Trump On Economics And Well-Being

TUESDAY, APR 23, 2024 – 08:35 AM

Authored by J.G. Collins via The Epoch Times (emphasis ours),

Epoch Times reporter Tom Ozimek recently wrote in these pages of former President Donald Trump’s encounter with Kayla Montgomery, a young Republican political consultant whose business is to “engage young, black professionals, students, and community members” in the Atlanta area. The ex-president and Ms. Montgomery met at a Chick-fil-A restaurant during an impromptu campaign stop in Atlanta. Ms. Montgomery was effusive in her praise of President Trump, saying, “I don’t care what the media tells you, President Trump—we support you!” A video of Ms. Montgomery and the former president hugging soon went viral, even as the media and Democrats quickly dismissed the interaction as “staged.”

Then, last week, President Trump left his trial in Manhattan to visit a bodega in Washington Heights, a mostly black and immigrant community on the Upper West Side of Manhattan and received a hero’s welcome from the working people there.

Whether the Chick-fil-A event was staged or not is open to debate. What is undeniable, though, is that polling shows Donald Trump has upended much of the black and Hispanic voting support Democrats have enjoyed since at least Lyndon Johnson’s “Great Society” and, at least in some instances, back to FDR’s New Deal.

A Wall Street Journal poll showed that President Trump’s support among black men in swing states had moved to 30 percent earlier this month compared to just 11 percent of black men nationally in 2020. Among black women, those same percentages went from 6 percent in 2020 to 11 percent in April.

‘It’s the Economy, Stupid!’

Political pundits and editorial pages all seem flummoxed by President Joe Biden’s erosion of support among the traditional Democrat coalition.

But no one seems more upset by the erosion of black support than Democrat political strategist James Carville, “the Ragin’ Cajun,” who engineered Bill Clinton’s 1988 victory over incumbent George H.W. Bush. That’s ironic, because it was Mr. Carville who added the memorable phrase “It’s the economy, stupid!” to the American political lexicon when he pinpointed President Bush’s greatest vulnerability 36 years ago.

Between January 2021, when President Biden took his oath of office, up to March of this year, average rents have increased by 20 percent. By comparison, residential rents increased just 12 percent during President Trump’s entire term. The increased costs hit blacks and Hispanics disproportionately because of the vast disparity in home ownership, as illustrated below.

Blacks and Hispanic workers also disproportionately occupy positions in production and transportation/material moving jobs at higher rates (17.8 percent and 16.7 percent, respectively) than whites (12.1 percent). But those are the jobs most vulnerable to being taken by the influx of the purported asylum seekers who typically work for less and are less likely to join unions or file complaints with the authorities against their employer. The asylum seekers have exploded since President Biden lifted U.S. border restrictions.

As Well as Crime …

Blacks and Hispanics tend to be disproportionately affected as victims of recidivist criminals let go by criminal justice initiatives championed by leftist Democrat “progressives” in so-called “blue” states. As shown in the chart above, black victims of crime actually decreased during the Trump presidency. (The chart is from a study that has not been updated for later years.)

By the same token, black-owned businesses were among the many businesses looted and destroyed by “progressive” George Floyd rioters in 2020.

… and Education

President Trump made permanent a commitment of $255 million in annual funding for historically black colleges and universities, and he increased funding for the Federal Pell Grant program by signing the FUTURE Act.

Within the states, Republican legislators and governors have championed school choice and a “back-to-basics” approach to K-12 that even Democrats acknowledge. Jorge Elorza, the CEO of Democrats for Education Reform and its affiliate Education Reform Now, a think tank, said: ”We’ve lost our advantage on education because I think that we’ve failed to fully acknowledge that choice resonates deeply with families and with voters.”

Meanwhile, Education Week, the Left-leaning magazine for K-12 teachers, summarized President Biden’s policies as follows:

“[He] passed stricter rules for charter schools seeking federal grant funding; awarded $1 billion to boost school safety and students’ mental health; and proposed an overhaul of Title IX that would give LGBTQ+ students explicit protection under the landmark sex discrimination law and bar outright bans on transgender youth who want to join athletic teams that align with their gender identity.”

Summary

Black and Hispanic voters are moving toward President Trump for a simple reason: their pocketbook and their well-being. The viewpoints of mainstream media pundits—college educated, overwhelmingly white, and mostly liberal—have long maintained a soft bigotry of racial expectations without understanding much of the economy of people who work in blue-, pink-, and green-collar jobs. The pundits don’t understand that blacks and Hispanics, like the rest of the country, have experienced a near 20 percent cumulative erosion in the purchasing power of their dollar and rising crime. They see K-12 education policies that deny school choice and that serve teachers’ unions, special interests, and Democrat party gender identity dogma far more than children and parents.

Black and Hispanic voters have every reason to depart from their traditional voting patterns.

It’s common sense.

END

“F**king Clown Show”: Unsealed Court Docs Reveal Biden DOJ Colluded With National Archives To Target Trump, Jack Smith Tried To Conceal

TUESDAY, APR 23, 2024 – 01:25 PM

Newly unsealed documents in Donald Trump’s classified documents case reveal that the Biden White House colluded with the National Archives (NARA) and the FBI to concoct a case against the former president.

Journalist Julie Kelly has been all over this:

EW: Thanks to order by Judge Cannon, key evidence related to classified docs case is now unredacted. On the left: What DOJ/Jack Smith wanted to conceal. On the right: Now we know why. More proof of collaboration btw Biden White House and NARA to concoct a case.

3:06 PM · Apr 22, 2024

What’s more, Special Counsel Jack Smith sought to conceal this – telling Judge Eileen Cannon in February that Trump’s counsel isn’t entitled to discovery on documents between the White House and NARA, that the court should toss requests for evidence of the alleged coordination, and that the court should deny Trump’s request for evidence related to secure facilities at his residences. Further, Trump’s request for unredacted discovery of materials should be denied.

Outrageous lies by Joe Biden, Attorney General Merrick Garland, and DOJ/Jack Smith about “independence” from investigations into Trump. The Biden White House and DOJ wew intimately involved in developing a criminal case against Trump for records mismanagement–it appears the first go-around related to alleged “destruction” of government papers. Contrary to public and legal assertions, NARA was working with DOJ/White House to craft a criminal referral by Sept. 2021–FIVE MONTHS before the “official” referral by NARA to DOJ in Feb 2022. (Govt redactions on left, newly unredacted filing on right.)

As the Epoch Times notes further, the trove of unsealed filings also revealed that the Federal Bureau of Investigation’s (FBI) code name for its investigation into President Trump’s presidential records was “[Redacted] Plasmic Echo.”

A key exhibit included with a motion to compel filed in January was an FBI case file labeled “[Redacted] PLASMIC ECHO; Mishandling of Classified or National Defense Information.”

The defense has argued that the emails unsealed on Monday indicate communication between NARA officials, the Biden administration, and the DOJ regarding President Trump’s records, alleging coordination in targeting the former president since 2021.

One email from NARA’s general counsel to the national archivist discussed drafting a letter to U.S. Attorney General Merrick Garland concerning “missing Trump records.” Subsequent emails revealed coordination between NARA and the Biden White House counsel’s office regarding the handling of these records

he same month (Feb 2022) that Biden’s White House and DOJ were in cahoots with NARA to concoct a reckless document-handling case against Trump, Maggie Haberman helped the cause by claiming Trump used to flush files down the toilet:

New York Times Reporter Alleges Trump May Have Flushed Documents Down Toilet

From news.yahoo.com

6:09 PM · Apr 22, 2024

The Sept. 1, 2021, email revealed that NARA’s general counsel, Gary Stern, had been in touch with both the DOJ and the Biden White House “about this issue.” A subsequent email on Sept. 30, 2021, reveals that the White House counsel’s office “is now ready to set up a call to discuss the Trump boxes.”

This email came after Mr. Stern emailed Deputy White House Counsel Jonathan Su two days earlier to “check back in to see when and how you want to proceed re [sic] meeting with [redacted], [redacted], [redacted], and NARA to discuss the Trump boxes?”

Furthermore, the defense highlighted instances where NARA officials didn’t disclose certain actions to Trump representatives, suggesting bias in the investigation process.

The defense alleged that Mr. Su didn’t disclose to a Trump representative that NARA had already drafted a DOJ referral letter when contacting them to discuss access to notes “from the Trump administration relating to records handling.”

* * *

https://twitter.com/julie_kelly2/status/1782798939562905608/photo/1

More from Epoch:

The unsealed emails show that NARA took into consideration the Democrat-led January 6 Committee’s investigation when considering the timing of reporting to Congress on their issues of getting access to President Trump’s posts on Twitter (now X).

On Oct. 5, 2023, Mr. Stern wrote in an internal NARA email that the release of a letter to Congress “can be timed with our public release of the Trump social media records … as well as our release to the 1/6 Committee of responsive tweets on the day of January 6.”

Mr. Stern noted that NARA had “issues” getting President Trump’s “social media records” because the Trump White House didn’t “capture them through the use of third-party archiving tools.”

“I do not think that these problems are something that the AG/DOJ can deal with, but it could be appropriate to report them to Congress, especially since the January 6 Committee has specifically requested Trump’s Tweets from the day of January 6,” Mr. Stern wrote in the email.

Mr. Stern adds that the Biden White House counsel “is now also aware of this issue, and has asked that I keep them in the loop to the extent that we make any reference to the White House Office of Records Management.”

Another email shows Mr. Ferriero saying that he had run “out of patience” amid back-and-forth communications with Trump representatives regarding “missing boxes” that, according to a draft email to the attorney general, were reported as having been “possibly destroyed.”

‘Matters of Public Record’

The defense, along with a coalition of news media, asked the court to unseal these exhibits, arguing that the court filings are “matters of public record.”

The defense has accused the prosecution of withholding potentially exculpatory evidence and alleged bias in the investigation.

The filings made public on Monday revealed previously sealed information while limiting the redactions to keeping secret the names of government witnesses.

They were included as exhibits in a motion to compel the prosecution to produce discovery material. In the Jan. 16 motion, they argued that the office of Special Counsel Jack Smith has engaged in discovery violations and has disregarded fundamental fairness in its pursuit of prosecuting President Trump.

The disclosures come amid a protracted battle over court documents, with Judge Aileen Cannon having reminded both parties in various court filings of the “strong presumption of public access” in the criminal proceedings, showing a preference for making public as much as possible. In January, she ordered that no unclassified material be sealed unless there were clear risks to personal safety or national security.

137.4K View

KING REPORT

The King Report April 23, 2024 Issue 7227

Independent View of the News

@YuanTalks: HKEX jumps over 3% after Chinese securities regulator CSRC announced a package of measures to support HK market

HKEX Expands Eligible ETFS Under Stock Connect
https://www.marketsmedia.com/hkex-expands-eligible-etfs-under-stock-connect/

Beijing wants to make it easier for Chinese companies to list in Hong Kong as the city suffers through its slowest IPO market since 2009 – The Hang Seng Index, which tracks the largest companies listed in Hong Kong, is down 17.3% over the past year, and has lost about 50% of its value since its record high in mid-2018…
https://ca.finance.yahoo.com/news/beijing-wants-easier-chinese-companies-112244540.html

Iraq’s Kataib Hezbollah resumes attacks on US forces, statement says
“What happened a short while ago is the beginning,” the group said in an apparent reference to an attack late on Sunday with multiple rockets from northern Iraq on a base housing US forces in Syria…
https://www.jpost.com/breaking-news/article-798203?s=02

Hamas kills aid workers to manufacture Gaza food crisis, Fatah charges
A Fatah TV anchor reported that Hamas had attacked aid workers, stolen food and water and caused food prices to skyrocket in the Gaza Strip. (Will Obama-Biden stooges sanction Hamas?)
https://www.jpost.com/israel-hamas-war/article-798185?s=02#798185

@sentdefender: A Member of the Iranian Parliament’s National Security Committee, Javad Karimi-Ghodousi stated today that Iran is now able to conduct a Nuclear Test with only a Week Notice.  https://twitter.com/sentdefender/status/1782398322889691344?s=02

Tesla Cuts Marketing Team (40 employees) in Reversal of Musk’s Ad Strategy
Tesla’s shares fell 4.6% at 11:13 a.m. in New York…
https://finance.yahoo.com/news/tesla-cuts-marketing-team-reversal-143519273.html

ESMs formed a megaphone on Monday. ESMs opened higher on Sunday night and then traded progressively higher until they commenced a plunge at 10:02 ET that pushed ESMs to a daily low of 5006.00 at 11:12 ET. Someone then manipulated ESMs to a daily high of 5037.25 at 12:15 ET.

After a retreat to 5024.75 at 12:29 ET, someone manipulated ESMs to a daily high of 5076.75 at 14:35 ET. But then some traders decided to book profits. Alas, there are few organic buyers in the market. It’s wise guys and various short-term traders playing with each other. So, ESMs plunged to 5040.75 at 14:58 ET. Someone then manipulated ESMs 9 handles higher by 16:00 ET (9 handles in 2 minutes).

Gold tumbled over 3%. Pundits claim easing Iran-Israel tension did the deed; others see manipulation.

Positive aspects of previous session
The FTSE 100 closed at an all-time high on BoE and ECB rate cuts
US stocks rallied sharply on a technical rebound and pre-Fang results buying/manipulation
The NY Fang+ Index rallied sharply despite Tesla’s large decline
Oil and gasoline declined sharply

Negative aspects of previous session
Late ESM plunge; USMs declined modestly
It appears that a grand pump & dump for Fang results is materializing

Ambiguous aspects of previous session
What happens after Fang results are reported?

First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5006.28
Previous session S&P 500 Index High/Low: 5038.84; 4969.40

NY Home Depot hires guards, dogs to keep parking lot safe from thieves, aggressive migrants
https://nypost.com/2024/04/21/us-news/home-depot-stores-look-to-security-to-keep-migrants-at-bay/

Seymour Hersh: Rampant corruption in Kyiv. ‘Lots of Americans’ are involved?
The Ukrainian president and many in his entourage have been skimming untold millions from the American dollars earmarked for diesel fuel payments. One estimate by analysts from the Central Intelligence Agency put the embezzled funds at $400 million last year, at least; another expert compared the level of corruption in Kyiv as approaching that of the Afghan war, “although there will be no professional audit reports emerging from the Ukraine.”
    Many government ministries in Kyiv have been literally “competing,” I was told, to set up front companies for export contracts for weapons and ammunition with private arms dealers around the world, all of which provide kickbacks…
     The issue of corruption was directly raised with Zelensky in a meeting last January in Kyiv with CIA Director William Burns. His message to the Ukrainian president, I was told by an intelligence official with direct knowledge of the meeting, was out of a 1950s mob movie. The senior generals and government officials in Kiev were angry at what they saw as Zelensky’s greed, so Burns told the Ukrainian president, because “he was taking a larger share of the skim money than was going to the generals.” Burns also presented Zelensky with a list of thirty-five generals and senior officials whose corruption was known to the CIA and others in the American government…
https://moderndiplomacy.eu/2023/04/17/seymour-hersh-rampant-corruption-in-kyiv-lots-of-americans-are-involved/

@emeriticus: Lindsey Graham has confirmed Trump was a driving force behind the Ukraine aid package. The rot is deeper than people understand.   (“This would not have passed without Donald Trump…”)
https://twitter.com/emeriticus/status/1782084048653111545

@Jkylebass: Pay attention to Chinese PLA naval operations in the Philippines. China has already told US leadership that they will ‘take the Second Thomas Shoal’ and that the  should not interfere with ‘internal’ Chinese matters. It will likely be THE flashpoint between China and the U.S.  https://twitter.com/Jkylebass/status/1782145488260649274?s=02

Near collision at Reagan Airport renews debate over control of air traffic into nation’s capital
https://justthenews.com/nation/states/center-square/near-collision-reagan-airport-adds-perimeter-expansion-debate

BOJ to project inflation will stay around target, signal chance for rate hikeBOJ decision expected 0230-0430 GMT Friday after 2-day meetingBoard seen revising up inflation forecasts for fiscal 2024, 2025New forecasts to show inflation staying around 2% in fiscal 2026Consumption, service price data key to next rate hike timingGovernor Ueda likely to hold post-meeting briefing at 0630 GMThttps://www.reuters.com/markets/asia/boj-project-inflation-will-stay-around-target-signal-chance-rate-hike-2024-04-22/

Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
https://www.reuters.com/business/retail-consumer/apparel-retailer-express-files-us-bankruptcy-protection-close-over-100-stores-2024-04-22/

@Oilfield_Rando: Oh, look at this excerpt from the Israel aid bill: $3.5 billion for Department of State migration and refugee assistance. This is what the State Department uses to pay the NGOs coordinating the illegal invasion at our southern border, and providing all the freebies once they’re in.  https://twitter.com/Oilfield_Rando/status/1782145443960422587

Today – Buying for the Monday Rally and looming Fang results broke a 6-session losing streak for stocks. The manipulation was blatant and further evinced by the late ESM tumble.
The usual suspects will buy dips and remain bullish even though ‘they’ fear Tesla will report sad results. Bulls and day traders expect that Fangs ex-Tesla will report splendid results and they can dump their holdings for big gains in coming days.

ESMs are -1.75; USMs are +4/32; and Gold is -1.70 at 20:30 ET.  Passover is today. Happy Passover!

Expected earnings: TSLA .52, DHR 1.71, PEP 1.52, UPS 1.32, GM 2.12, PHM 2.37, PM 1.40, HAL .74, LMT 5.75, KMB 1.64, GE .65, FCX .26, BKR .40, TXN 1.07, CB 5.31, V 2.44

Expected economic data: Apr S&P Global US Mfg PMI 52, Services 52, Composite 52; Mar New Home Sales 670k; Apr Richmond Fed Mfg. Index -8

S&P Index 50-day MA: 5119; 100-day MA: 4940; 150-day MA: 4742; 200-day MA: 4677
DJIA 50-day MA: 38,808; 100-day MA: 38,107; 150-day MA: 36,704, 200-day MA: 36,236
(Green is positive slope; Red is negative slope)

S&P 500 Index (5010.60 close) – BBG trading model Trender and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4638.30 triggers a sell signal
Weekly: Trender and MACD are negative – a close above 5304.99 triggers a sell signal
Daily: Trender and MACD are negative – a close above 5126.43 triggers a buy signal
Hourly: Trender and MACD are positive – a close below 4987.08 triggers a sell signal

AOC praises pro-Palestinian protesters causing chaos with tent camps at Columbia and Yale as she introduces Biden, who says: ‘Listen to that lady’ – ‘It is especially important that we remember the power of young people shaping this country today, of all days, as we once again witness the leadership of those peaceful student-led protests on campuses like Columbia and Yale and Berkeley and many others,’ Ocasio-Cortez said.   Moments later, Biden came onstage and commended AOC, telling the crowd, ‘You know, I learned a long time ago – listen to that lady, listen to that lady.’…
https://www.dailymail.co.uk/news/article-13337655/aoc-praises-pro-palestine-protesters-columbia-yale-biden.html

‘Vicious’ Anti-Israel attacks turn Democratic party against Israel: ‘They’re terrified of their rabid core’ – Sen. Ted Cruz, R-Texas, told Fox News host Maria Bartiromo on Sunday. “This, tragically, is cultural Marxism that our universities are indoctrinating young people [with]. Cultural Marxism breaks the world into oppressors and victims, and they have defined Jews as oppressors [and] they have defined Palestinians as victims.”…
https://www.foxnews.com/media/vicious-anti-israel-attacks-turn-dem-party-hard-anti-israel-theyre-terrified-rabid-core

@greg_price11: Reporter: “Do you condemn the anti-Semitic protests on college campuses?” Biden: “I condemn the antisemitic protests. That’s why I have set up a program to deal with that. I also condemn those who don’t understand what’s going on with the Palestinians.” Reporter: “Should the Columbia University president resign?” Biden: “I didn’t know that.”  https://twitter.com/greg_price11/status/1782495325950804345

@NoahPollak: Right now, NYPD is standing by ready to remove Hamas from Columbia’s campus. But why aren’t they making trespassing arrests, you might ask? Because Columbia’s president, Minouche Shafik, is not letting them. The Hamas activists are only trespassing once Shafik says they are. And she’s not saying it. (Yale removed protestors and their tents on Monday.)

GOP Sen @HawleyMO: Eisenhower sent the 101st to Little Rock. It’s time for Biden to call out the National Guard at our universities to protect Jewish Americans

@amuse: Hamas has built a new tent city at Columbia. The university will let them stay this time. The terrorists have won.  https://t.co/7wsP88jQEs

Columbia’s most outspoken critic of anti-Israel protesters, Prof. Shai Davidai, refused entry to campus for pro-Jewish rally   https://nypost.com/2024/04/22/us-news/columbia-professor-and-outspoken-israel-supporter-shai-davidai-says-hes-been-barred-from-the-main-campus/

GOP @SenTomCotton: The nascent pogroms at Columbia have to stop TODAY, before our Jewish brethren sit for Passover Seder tonight. If Eric Adams won’t send the NYPD and Kathy Hochul won’t send the National Guard, Joe Biden has a duty to take charge and break up these mobs. For nine years, many liberals have fantasized that Trump is Hitler and their brave “Resistance” proves how they would’ve acted in Germany in the 1930s. In reality, nascent pogroms have broken out across America’s campuses and these very same liberals sit silently or even defend the mobs. Which actually tells you how they would’ve acted in Germany in the 1930s.

Fox’s @BillMelugin_: California: Pro Palestine camp now going up at UC Berkeley. Organizers say it’s the first of its kind on the west coast.

Campus comrades: More anti-Israel tent cities and mass protests spring up at colleges across US
https://nypost.com/2024/04/22/us-news/college-anti-israel-solidarity-protests-spring-up-across-us/

Harvard closes Harvard Yard as anti-Israel protesters take over Ivy League campuses across country  https://www.foxnews.com/us/harvard-closes-harvard-yard-as-anti-israel-protesters-take-over-ivy-league-campuses-across-country

@Geiger_Capital: CEO of Palantir, Alex Karp: “You are sitting at your elite school pretending that because you watched TikTok twice and got an A+ on some crazy paper, because your professor couldn’t get a job anywhere else, that you actually understand the world.”  https://twitter.com/Geiger_Capital/status/1782418928938922047?s=02

@InezFeltscher: Once again I am asking you to remember that 99% of American universities are completely dependent on government programs and taxpayer largesse and that curtailing their psycho behavior is a mere matter of political will.

@ImMeme0: Biden Administration files lawsuit against Sheetz Gas Stations over alleged “racial discrimination.” Why? Because Sheetz mandates that all applicants successfully clear a criminal background check prior to employment. Biden wants businesses to hire criminals against their will.  https://twitter.com/ImMeme0/status/1782129296670163157
   @elonmusk: You know The Joker is running things when the law-abiding are being prosecuted by the government for not hiring criminals!

@MonicaCrowley: A few days ago, Biden meandered dazed & confused around a Sheetz convenience store in PA. Now he’s suing Sheetz for racial discrimination because they refuse to hire criminals, aka people who fail criminal background checks. Are you awake yet?

LA Mayor Karen Bass home during break-in; suspect in custody
https://www.foxla.com/news/karen-bass-mayor-los-angeles-home-break-in

Biden’s DHS taps anti-ICE activist to scrutinize detention of illegal immigrants
https://nypost.com/2024/04/22/us-news/bidens-dhs-taps-anti-ice-activist-to-scrutinize-detention-of-illegal-immigrants/

@WallStreetSilv: Bill Maher on Illegal Immigration In Europe: “Sweden opened its borders to over 1.5 MILLION immigrants since 2010.” “Now 20% of its citizens are foreign born and it’s education system is tanking.” “And it now has Europe’s highest rate of gangland killings.” https://t.co/qdllFwuD0M

A Beleaguered Gentleman: Speaker Mike Johnson
This past March, Johnson felt he owed Biden an apology. Seated just over the president’s shoulder during the State of the Union address, the speaker couldn’t mask his expressions of exhaustion and exasperation as Biden laid into Republicans… (Would Pelois apologize to DJT for her SOTU histrionics?)
    Johnson pulled Biden aside to “apologize for the eye-roll memes that went around the world.” The president laughed, then told the speaker he was glad Johnson was better behaved than Nancy Pelosi had been during the speeches of his predecessor: “I’m just grateful you didn’t rip my speech up.” The speaker replied, “Well, Mr. President, don’t think my friends back home didn’t want me to light it on fire.”…  https://www.realclearpolitics.com/articles/2024/04/20/a_beleaguered_gentleman_speaker_mike_johnson.html

Rolling Stone calls Speaker Johnson’s anti-porn parenting app ‘creepy’
In a Sunday article headlined, “Mike Johnson Admits He and His Son Monitor Each Other’s Porn Intake in Resurfaced Video,” Rolling Stone claimed Johnson “admitted that he and his son monitored each other’s porn intake in a resurfaced clip from 2022.”…
    “It scans all the activity on your phone, or your devices, your laptop, what have you; we do all of it,” Johnson said about the anti-pornography app “Covenant Eyes,” which provides accountability services for families and couples… https://www.foxnews.com/media/rolling-stone-calls-speaker-johnsons-anti-porn-parenting-app-creepy

Minnesota Democratic state senator jailed after being accused of breaking into home
https://nypost.com/2024/04/22/us-news/minnesota-democratic-state-sen-nicole-mitchell-arrested-on-burglary-rap/

War By Affirmative Action? – Victor David Hanson
Why does Biden play Iranian poker with American and Israeli lives? Answer? He envisions war sort of like affirmative action, in which the less accomplished belligerent is allowed all sorts of concessions for the sake of equity… As a result, the Biden administration’s strategic attitude toward Iran ignores Iranian intent and agendas. So, it does not respond fully to its acts of aggression and thereby almost rewards the incompetence of Iran, Hamas, Hezbollah, and the Houthis without consideration of their murderous aims.
   Americans are thus baffled that Biden has not responded to some 170 or more attacks on U.S. installations in the Middle East by Iranian-backed terrorists in Yemen, Syria, Iraq, and Lebanon. But in his calculus, Americans “can take the hit” due to their superior defenses—appeasement that only assures more hits…  https://victorhanson.com/war-by-affirmative-action/

GREG HUNTER

SEE YOU WEDNESDAY

GOLD: NUMBER OF NOTICES FILED FOR APRIL/2024. CONTRACT: 33 NOTICES FOR 3300 OZ or 0.1026 TONNES

total notices so far: 16,213contracts for 1,621300 Oz (50.429 tonnes)

FOR APRIL:

SILVER NOTICES: 0 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 1626 for 8,130,000 oz

Brien Lundin: Noise amid the signal

Futures Extend Rebound Into Second Day Ahead Of Tesla Earnings Despite Rising Yields

US equity futures tentative ahead of a busy earnings slate, Bonds flat but were pressured post EZ PMIs, XAU dips; US PMIs due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

EU Leaders Trying To Convince Greece & Spain To ‘Sacrifice’ Their Own Anti-Air Defenses For Ukraine

Euro Area PMI Activity Hits 11 Month High On Service Expansion As Manufacturing Recession Gets Worse

IDF says troops launched ‘surprise operation’ Sunday evening in central Gaza corridor

Gaza War At 200 Days: IDF Pivots From Iran Threat Back To Hamas Operations

IDF strikes vehicle in southern Lebanon, kills two senior Hezbollah officials

IDF fighter jets attacked additional Hezbollah targets in the Yaroun area of southern Lebanon at the time of the targeted strike on the Hezbollah commander.

Sirens in Israel’s north

Syria’s President Assad Confirms Rare Direct Talks With Washington

Iran-Linked Iraq Militia Says It Is Resuming Attacks On US Forces

END

Congress Passes New Iran Oil Sanctions But Biden Unlikely To Enforce Them

COVID Spike Proteins Help Cancer Cells Survive, Resist Chemotherapy: Brown University Preprint Paper

Spike Subunits Block Anti-Cancer Gene

COVID-19 Vaccines May Have Similar Effects

More Thorough Studies Needed

Several Studies Link Cancer to COVID-19 Pandemic

Excess Deaths in Japan Hit 115,000 Following 3rd COVID Shot; New Study Explains Why

Excess Deaths Following the Third Shot

Harm Done by the Vaccine, Not the Virus

6 Types of Cancer Had Significant Excess Deaths

Cancer After the Jab: A Scientific Explanation

Vaccination and Suppression of Cancer Immunosurveillance

Uncertain Future

Why the hell, the EFF, must these evil crooks in congress take US tax-payer money to give to Taiwan, Israel, Ukraine? Why can’t these nations use their own money? This is a corrupt slush kickback

scheme; these nations have money, these are 1st world nations, Ukraine’s pump-wearing TRANNY leader has already stolen enough of our tax-payer money…why more? Johnson? Traitor?

Anthony Fauci: did he CREATE HIV? Was HIV/AIDS created by some deranged science by Fauci & his research NIAID/NIH/FDA boys & girls? Is this why Fauci destroyed BACTRIM (for pneumocystis pneumonia-PCP)

it was of BENEFIT, for the deadly AZT that killed so many, killed so many gays??? Fauci has blood on his hands re HIV/AIDS certainly in his role in the bactrim/AZT disaster; antibiotic bactrim treated

Bonds & Stocks Bid As ‘Bad News’-Buyers Trump CTA-Sellers

US PMIs Scream Stagflation As Manufacturing ‘Contracts’, Prices Rise, Heaviest Job Cuts Since GFC

“Our Cities Turn Into War Zones Every Night”

Biden’s America: 40% Of Renters Think They’ll Never Own A Home, Up From 27% Last Year

Gen Z renters are most likely to believe they’ll own a home

Homebuyer Payment Hits Record High As Mortgage Rates Climb Back Above 7% For The First Time In 2024

No Evidence FBI Used Counterterrorism Tactics on Catholics: Government Watchdog Report

‘Its The Economy, Stupid!’ Black And Hispanic Voters Embrace Trump On Economics And Well-Being

‘It’s the Economy, Stupid!’

As Well as Crime …

… and Education

Summary

“F**king Clown Show”: Unsealed Court Docs Reveal Biden DOJ Colluded With National Archives To Target Trump, Jack Smith Tried To Conceal

‘Matters of Public Record’

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