MAY 3//GOLD CLOSED DOWN $0.80 TO $2300.//SILVER WAS DOWN $0.12 TO $20.47/PLATINUM WAS DOWN $2.75 TO $955.15/WHILE PALLADIUM WAS UP $7.15 T0 $939.HE50//MUST VIEW PODCAST FROM ANDREW MAGUIRE TALKING ABOUT REAL PHYSICAL GOLD VS PHONY PAPER//USA RELEASES ANOTHER PHONY JOBS REPORT//BIDEN WANTS GAZAN MIGRANTS BUT REPUBLICANS ARE ATTEMPTING TO BLOCK THIS MOVE..OTHER USA DATA RELEASES//ISRAEL GIVES HAMAS ONE WEEK TO AGREE TO A HOSTAGE SETTLEMENT//OTHER ISRAEL VS HAMAS COMMENTARIES//UKRAINE ATTACKS RUSSIA AND THEN RUSSIA ATTACKS UKRAINE/COVID UPDATES/COVID INJURIES//DR PAUL ALEXANDER/ SLAY NEWS ETC//SWAMP STORIES FOR YOU TONIGHT//
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 …
Gild and silver held quite nicely even though China has been absent these past few days due their holiday. When Monday arrives, gold will continue its continue on its upward trajectory
Bitcoin morning price:$59,200 UP 220DOLLARS.
Bitcoin: afternoon price: $61,727 UP 2307 dollars
Platinum price closing DOWN $2.25 TO $955.15
Palladium price; UP $7.15 AT $946.65
END
SHANGHAI GOLD PREMIUM 55 DOLLARS/COMEX GOLD
SHANGHAI GOLD…
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $3148.08 UP 12.64 CDN dollars per oz( * NEW ALL TIME HIGH 3,301.52 CDN DOLLARS PER OZ//APRIL 16 2024)
*BRITISH GOLD: 1833.72 DOWN 3.82pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2137.55 DOWN 9.81Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)
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END
EXCGE: COMEX
REPORT THIS AD
JPMorgan stopped 1/35
FOR MAY2024
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 35 NOTICES FOR 3500 OZ or 0.1088 TONNES
total notices so far: 1590 contracts for 159000 Oz (4,945 tonnes)
FOR MAY:
SILVER NOTICES: 19 NOTICE(S) FILED FOR 95,000 OZ/
total number of notices filed so far this month : 4474 for 22.370 million 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 $0.80
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL 0F 1.80 TONNES OF GOLD FROM THE GLD
/ /INVENTORY RESTS AT 829.84 TONNES
INVENTORY RESTS AT 831.64TONNES
SLV//
WITH NO SILVER AROUND AND
SILVER DOWN 12 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 0.338 MILLION OZ INTO THE SLV//
// INVENTORY INCREASES T0 424.512MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 424.512 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A FAIR SIZED 207 CONTRACTS TO 165,639 AND CLOSING IN AT CLOSING IN ON THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR SMALL GAIN OF $0,12 IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SHORT COVERING BY OUR SPECS WITH THE GAIN PRICE. WE HAD A HUGE SIZED 663 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 THURSDAY NIGHT: 663 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 UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.12 AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A FAIR SIZED GAIN OF 357 CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE OF $0.12
WE MUST HAVE HAD:
A SMALL SIZED 150 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 28.130MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S STRONG QUEUE JUMP OF 105,000 OZ
//NEW STANDING FOR SILVER//MAY IS THUS 26.195 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //SMALL SIZED EFP ISSUANCE/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 663 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A STRONG 648CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS APRIL ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAY
TOTAL CONTRACTS for 3 DAYS, total 2150 contracts: OR 10.750 MILLION OZ (717 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 10.750 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 111.035 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: 161.770MILLION OZ (THIS MONTH WILL PROBABLY BE A WHOPPER OF ISSUANCE OF EFPS//3RDHIGHEST EVER RECORDED FOR A MONTH)
MAY: 10.75 MILLION OZ
RESULT: WE HAD A FAIR SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 207 CONTRACTS WITH OUR SMALL GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 150 ISSUED FOR JULY 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 MAY OF 28.130 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAYS 105,000 OZ QUEUE JUMP
//NEW TOTAL STANDING AT 26.195 MILLION OZ
WE HAVE A FAIR SIZED GAIN OF 357 OI CONTRACTS ON THE TWO EXCHANGES WITH THE SMALL GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 663 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS
THE NEW TAS ISSUANCE THURSDAY NIGHT (472 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 19 NOTICE(S) FILED TODAY FOR 95,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 3509 OI CONTRACTS TO 526,097 AND CLOSER TO 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 768 CONTRACTS
WE HAD A FAIR SIZED INCREASE IN COMEX OI (3509 CONTRACTS) OCCURRED WITH OUR $0.20 GAIN IN PRICE//THUSDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER TO WHACK GOLD’S PRICE. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR MAY AT 4.684 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY;S 2800 OZ QUEUE JUMP//NEW STANDING 5,.135 TONNES
NEW STANDING 5.135 TONNES// ALL OF THIS HAPPENED DESPITE OUR TINY $0.20 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A VERY STRONG SIZED GAIN OF 10,745 OI CONTRACTS (34.043 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 7430 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 526,097
IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,945 CONTRACTS WITH6400 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 7430 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 10,945 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 4431 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7430 CONTRACTS) ACCOMPANYING THE GAIN IN COMEX OI 3509/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 10,945 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 MAY AT 4.684TONNES FOLLOWED BY TODAY;S 2800 OZ QUEUE JUMP
//NEW STANDING /MAY 5.135 TONNES.
/ 3) ZERO LONG LIQUIDATION WITH THE GAIN IN PRICE.
// 4) STRONG SIZED COMEX OPEN INTEREST GAIN 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: STRONG T.A.S. ISSUANCE: 2031 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
MAY
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY. :
TOTAL EFP CONTRACTS ISSUED: 20,016CONTRACTS OR 2,001,600 OZ OR 62.26 TONNES IN 3 TRADING DAY(S) AND THUS AVERAGING: 6672EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 3 TRADING DAY(S) IN TONNES 62.26 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 62.26 DIVIDED BY 3550 x 100% TONNES = 1.74% OF GLOBAL ANNUAL PRODUCTION
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: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 62.26 TONNES
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 ROSE BY A FAIR SIZED 207 CONTRACTS OI TO 165,639 AND CLOSER TO 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 150 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 150 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 150 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 644CONTRACTS AND ADD TO THE 150 E.FP. ISSUED
WE OBTAIN A FAIR SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 357 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 1.785 MILLION OZ
OCCURRED DESPITE OUR SMALL $0.12 GAIN IN PRICE …..
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
REPORT
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//
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED //Hang Seng CLOSED UP 268.79OR 1.48%// Nikkei CLOSED//Australia’s all ordinaries CLOSED UP 0.61%///Chinese yuan (ONSHORE) closed UP CHINESE YUAN CLOSED UP TO 7.1934/Oil DOWN TO 79.23 dollars per barrel for WTI and BRENT DOWN AT 84.710/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING XXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 3509 CONTRACTS TO 526,097 WITH OUR GAIN IN PRICE OF $0.20 WITH RESPECT TO THURSDAY TRADING. WE HAD CONSIDERABLE T.A.S. LIQUIDATION AS WELL AS SHORTS, DESPERATELY TRYING TO GET OUT OF THEIR NAKED SHORTS.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY.… 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 HUGE 7430 EFP CONTRACTS WERE ISSUED: : JUNE7430 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE:7430 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED TOTAL OF 10,945 CONTRACTS IN THAT 7430 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED GAIN OF 3509 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR TINY GAIN IN PRICE OF $0.20 THURSDAY 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 THURSDAY NIGHT WAS A STRONG SIZED 4431 CONTRACTS. WE HAD 0 EX FOR RISK ISSUANCE. MOST OF THE TRADING AND SUPPLY OF CONTRACTS ON THURSDAY 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: MAY (5.135 TONNES) ( NON 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
REPORT THIS AD
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
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: 66.276TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2023 5.135TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY A TINY $0.20 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED GAIN OF10,945 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE 0F $0.20
WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING. THE T.A.S. ISSUED ON THURSSDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.
WE HAVE GAINED A TOTAL OI OF 34.043 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MAY (4.684 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 26 CONTRACTS OR 2800 OZ ( .0871 TONNES)
NEW STANDING: 5.135 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $0.20
WE HAVE REMOVED 2891 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 10,945 CONTRACTS OR 1,094500 (34.043 TONNES)
Total monthly oz gold served (contracts) so far this month
1590notices 159,000oz 4.945TONNES
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: 0 oz
we have 0 customer deposits:
i
total deposit 0 oz
total customer withdrawals: 0
TOTAL WITHDRAWALS 0
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAY
For the front month of MAY we have an oi of 96 contracts having GAINED 14 contracts.
We had 14 contracts served on Thursday, so we gained 28 contracts or 2800 oz (,08709tonnes).
JUNE DECREASED ITS OI BY 5733 CONTRACTS DOWN TO 390,122CONTRACTS.
JULY LOST 71 CONTRACTS TO STAND AT 163
We had 35 contracts filed for today representing 3500 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 135contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for the MAY /2024. contract month, we take the total number of notices filed so far for the month (1590 ) x 100 oz ) to which we add the difference between the open interest for the front month of MAY ( 96 CONTRACTS) minus the number of notices served upon today (35 x 100 oz per contract( equals 165,100 OZ OR 5.135 TONNES.
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (1590x 100 oz + (96)OI for the front month} minus the number of notices served upon today (35 x 100 oz which equals 165,100 oz (5.135 TONNES)
TOTAL COMEX GOLD STANDING FOR MAY: 5.135 TONNES WHICH IS HUGE FOR THIS A NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,720,789.868 OZ
TOTAL REGISTERED GOLD 7,533,615.645( 234.327 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,187,767.594 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 5,951,095 oz (REG GOLD- PLEDGED GOLD)
185.10 tonnes/dropping like a stone
END
SILVER/COMEX
MAY 3
INITIAL
//2024// THE MAY 2025 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
118,481.470oz
asahi
.
Deposits to the Dealer Inventory
00OZ
Deposits to the Customer Inventory
579,123.400 oz
Manfra
No of oz served today (contracts)
19 CONTRACT(S) (95,000OZ)
No of oz to be served (notices)
746contracts (3.730 million oz)
Total monthly oz silver served (contracts)
4493Contracts (22.465 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
i) 0 dealer deposit
total dealer deposit :nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 deposits customer account:
i) Into Manfra 579,123,400 oz
total customer deposits 579,123,400oz
JPMorgan has a total silver weight: 129,598million oz/295.648million or 43.64%
adjustment: 1
dealer to customer: 404,330.870 oz
Comex withdrawals: 1
i) out of ASAHI 118,481.470 oz
total withdrawal 118,481,470 oz
TOTAL REGISTERED SILVER: 61.951MILLION OZ//.TOTAL REG + ELIGIBLE. 295.648million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MAY/2024 OI: 765 CONTRACTS HAVING LOST 378 CONTRACT(S).
.
We had 399 notices served on THURSDAY so we GAINED 21 contracts or 105,000 oz underwent a strong queue jump.
JUNE SAW A GAIN OF 146 CONTRACTS RISING TO 1999
JULY SAW A gain OF 10 CONTRACTS UP TO 135,754
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 19 for 95,000 oz
CONFIRMED volume; ON THURSDAY 68,762huge
To calculate the number of silver ounces that will stand for delivery in MAY we take the total number of notices filed for the month so far at 4493 x 5,000 oz = 22.465MILLION oz
to which we add the difference between the open interest for the front month of MAY (765 and the number of notices served upon today 19x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MAY/2024 contract month: 4493 notices served so far) x 5000 oz + OI for the front month of MAY (765 number of notices served upon today minus (19x 5000 oz of silver standing for the may contract month equates to 26.195 MILLION OZ.
New total standing: 26.195 million oz.
There are 62.355 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!
MAY 23WITH GOLD UP $0.20 ON THE DAY; SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .55 TONNES IF FGOLD FROM THE GLD//INVENTORY FALLS AT 831.64 TONNES
MAY 2 WITH GOLD UP $0.20 ON THE DAY; SMAKK CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .55 TONNES IF FGOLD FROM THE GLD//INVENTORY FALLS AT 831.64 TONNES
MAY 1 WITH GOLD UP $7.80 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:INVENTORY RISES AT 832.19 TONNES
APRIL 29WITH GOLD UP $10,55TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:INVENTORY RISES AT 832.19 TONNES
APRIL 26WITH GOLD UP $5.40TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.54 TONNES FROM THE GLD /INVENTORY RISES AT 832.19 TONNES
APRIL 25WITH GOLD UP $5.05 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD /INVENTORY RISES AT 833,63 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 DOWN $. 80 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A HUGE WITHDRAWAL OF 1.80 TONNES OF GOLD INTO THE GLD/ INVENTORY FALLS AT 824.84 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: 831.64 TONNES,
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MAY 3 WITH SILVER DOWN 12 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 0.338MILLION OZ OUT OF THE SLV INVENTORY RESTS AT 424.695 MILLION OZ
MAY 2WITH SILVER UP 0.12 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ A WITHDRAWALOF 4.471 MILLION OZ OUT OF THE SLV INVENTORY RESTS AT 424.695 MILLION OZ
MAY 1 WITH SILVER UP 0.09 TODAY: SMALLCHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF ,457 MILLION OZ INTO THE SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 29WITH SILVER UP $0.13 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 26WITH SILVER DOWN 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.097 MILLION OF SILVER INTO THE SLV// :SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 25WITH SILVER UP $.05 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE DEPOSIT OF 1.534 MILLION OF SILVER OUT OF THE SLV// :SLV INVENTORY RESTS AT 428.717 MILLION OZ
APRIL 24/WITH SILVER DOWN $.05 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE DEPOSIT OF 11.904MILLION OF SILVER INTO THE SLV// :SLV INVENTORY RESTS AT 428.280 MILLION OZ
APRIL 23/WITH SILVER UP $0.11TODAY: NO CHANGES IN SILVER INVENTORY AT 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
Gold and silver consolidated this week, with gold testing support at $2300 and silver at $26. In European trade this morning, gold was $2302, down $35, and silver $26.56, down 66 cents. Volumes on Comex in both metals declined as the consolidation has progressed.
The highlight of the week was the FOMC meeting and statement. As it turned out, there was little surprise, other than the pace of quantitative tightening which persuaded optimists that pressure on yields along the curve would be reduced. Consequently, yields ticked marginally lower, as the chart of the 10-year UST note shows:
The golden cross on 7 March told us that the fall in yields from last October was over, and that instead of lower bond yields in time they were heading higher instead. This is consistent with the likely funding difficulties which the US Government faces with its $3+ trillion deficit. This problem is destabilising the entire fiat currency system, leading to a relatively strong dollar, whose trade weighted index is next.
As long as the $TWI is in a bull trend, it is bad news for other currencies, typified by the Japanese yen, which this week made a break for the downside as the yield on the 10-year JGB rose to over 0.9%. Clearly, the developing debt trap for the dollar is undermining the Bank of Japan’s monetary policy.
The determination of the Bank of Japan to sit on JGB yields only encourages the carry trade, whereby the expansion of yen bank credit feeds directly into US Treasuries. The consequences for the currency and bond yields are next:
Instability in fiat currencies is what’s driving them lower valued in gold. It is worth putting the relationship by pricing fiat currencies in gold instead of gold priced in fiat to emphasise that it is less of a question of gold rising, and more one of the dollar and other currencies falling. It is a situation which can rapidly drift into crisis.
There could be a crisis developing in silver. The next chart shows that the Swaps’ shorts are drifting out of control.
The net short position amounts to the paper equivalent of nearly 9,750 tonnes, or $8.2 billion spread between 17 traders. They are part of the same cohort which is short of $63bn in Comex paper gold.
Falling fiat currency values is putting the squeeze on the banking establishment. And it doesn’t help that longs are standing for delivery. In silver, a further 696 tonnes were stood for delivery, and in gold a further 7.6 tonnes in the first four days of this week.
How long will it be before a bullion bank defaults? We should start thinking this way. The problem in gold is bad enough, but with India scrambling for silver for its photovoltaic cell production, silver’s short position is becoming potentially explosive. When this consolidation phase ends, the next leg of rising prices could well develop into the mother of all bear squeezes — on the establishment!
3. CHRIS POWELL//GATA DISPATCHES
end
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS /LIVE FROM THE VAULT 171
GATA) Gordon Brown’s decision to sell Britain’s gold looks ever more disastrous
By Philip Pilkington
The Telegraph, London
Thursday, May 2, 2024
According to the latest estimates, taxpayers will be on the hook to cover L85 billion in losses stemming from the unwinding of the Bank of England’s quantitative easing (QE) policy. The scheme is set to lose about L20bn a year until the early 2030s — a yearly figure worth more than a third of our current defence budget.
And these estimates may, if anything, be too optimistic. Until very recently, it was widely assumed that the Federal Reserve would lower interest rates in the United States in the run-up to the election. The Bank was no doubt hoping that it could follow suit.
But inflation seems to be sticking around and it is widely anticipated that the Fed will now maintain interest rates where they are. If interest rates are kept high for a longer period — or worse if they must rise again due to an uptick in inflation — it will mean even heavier losses for the taxpayer to fund.
Meanwhile, as the BoE frets over the consequences of its funny money programme, other countries are bolstering their gold reserves. The Chinese central bank, the Peoples’ Bank of China, is now in its 17th straight month of rapacious gold-buying. Chinese gold reserves have risen from roughly 1,950 tonnes in the third quarter of 2022 to 2,260 tonnes today — an increase of 1 4%. …
SHANGHAI CLOSED //Hang Seng CLOSED UP 268.79OR 1.48%// Nikkei CLOSED//Australia’s all ordinaries CLOSED UP 0.61%///Chinese yuan (ONSHORE) closed UP CHINESE YUAN CLOSED UP TO 7.1934/Oil DOWN TO 79.23 dollars per barrel for WTI and BRENT DOWN AT 84.710/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING XXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED
OFFSHORE YUAN: UP TO 7.1934
SHANGHAI CLOSED
HANG SENG CLOSED UP 268.79PTS OR 1.48%
2. Nikkei closed
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 105.97 EURO RISES TO 1.0746 UP 17 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.894 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 153.22JAPANESE 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: XX/ OFFSHORE: UP
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 DOWN TO +2.5305/Italian 10 Yr bond yield UP to 3.858 SPAIN 10 YR BOND YIELD UP TO 3.303
3i Greek 10 year bond yield UPTO 3.511
3j Gold at $2298.85//Silver at: 26.41 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 1 AND 40 100 roubles/dollar; ROUBLE AT 91.65/
3m oil into the 79 dollar handle for WTI and 84 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 153.22/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.894% 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 0.9069 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9746 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.561 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.713 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.868 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.34…(TURKEY)
10 YR UK BOND YIELD: 4.316DOWN 1 PTS
2a New York OPENING REPORT
Futures Gain Boosted By Apple’s Blowout Buyback, Dollar Drops Ahead Of Payrolls
FRIDAY, MAY 03, 2024 – 08:23 AM
US stock futures pointed to further strength on Wall Street ahead of the April jobs report after solid earnings and a record buyback announcement from Apple As of 8:00am, S&P futures rise 0.3% while Nasdaq 100 contracts add 0.6% thanks to a 6% surge in Apple in premarket trading. The dollar weakened for a third day, while Treasuries were steady. The US 10-year yield is down about 9 basis points this week at 4.57%, its first weekly drop since March, after Powell struck a less hawkish tone than feared. Traders have also pulled forward expectations for the Fed’s first full interest-rate cut by a month to November.
In premarket trading Apple jumped .2% after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing. Amgen soared 14% after its CEO said he was “very encouraged” by early results from a study of the company’s experimental obesity drug, MariTide. Here are some other notable premarket movers:UnmuteAdvanced SettingsFullscreenPauseRewind 10 SecondsUp Next
Alignment Healthcare gains 9% after the company forecast revenue for the 2Q that beat the average analyst estimate.
Ardelyx (ARDX) soars 18% after the pharma company’s Xphozah and Ibsrela drugs drove a strong 1Q revenue beat, which Jefferies expects will boost confidence in the company’s management.
BigBear.ai (BBAI) falls 14% the AI software company reported a wider-than-expected first-quarter loss.
Block (SQ) rises 7.2% after Jack Dorsey’s payments technology company forecast adjusted Ebitda for the full year above analysts’ estimates.
Cloudflare (NET) sinks 13% after the cloud security firm provided a 2Q revenue forecast that fell slightly short of estimates.
Fortinet (FTNT) falls 8% as the cybersecurity company reported a miss in first-quarter billings due to weakness in Europe.
FuboTV (FUBO) rises 8.4% after the internet television service provider reported revenue for the first quarter that beat the average analyst estimate.
ImmunityBio (IBRX) gains 8% on a deal with the Serum Institute of India for Bacillus Calmette-Guerin supply.
Live Nation Entertainment (LYV) rises 3% after the operator of Ticketmaster reported first-quarter results that beat expectations.
OneSpan (OSPN) rises 15% after the software services company reported first-quarter results that are seen as strong.
Open Text (OTEX) slips 13% after the application software company gave an outlook that is seen as weak, prompting a downgrade.
WideOpenWest (WOW) climbs 17% after shareholder Crestview says it and DigitalBridge submitted a joint, preliminary non-binding proposal to buy the cable service provider for $4.80 per Class A share.
Traders will be watching this morning’s jobs report for clues about renewed slowing in the economy (full preview here). Non-farm payrolls data is the next big trigger for markets after Federal Reserve chief Jerome Powell effectively laid concerns about a potential rate hike to rest. The forecast gain of 240,000 jobs would be the weakest since November.
“NFP gains have likely slowed, but to a level that has remained strong,” wrote Credit Agricole CIB strategists led by Sébastien Barbé. “The ‘higher for longer’ narrative should remain well in place, but is largely priced in by the market at this stage.”
If the Labor Department’s report shows fewer than 125,000 jobs were added in April, and the average hourly earnings rose more than 0.4% from the previous month, that would be a “stagflation risk-off print,” according to Bank of America Corp. strategist Michael Hartnett. On the other hand, if payrolls were to rise by more than 225,000 and average hourly earnings by less than 0.2%, it would be interpreted as “Goldilocks back on and risk back on,” he wrote.
European stocks have tracked a tech-driven rally in Asia after Apple forecast a return to sales growth and announced the largest stock buyback plan in US history. The Stoxx 600 is up 0.4% as it looks to snap a three-day losing streak. While tech stocks led gains, pharmaceuticals lagged with Novo Nordisk A/S retreating more than 5% on competition concerns. Here are the most notable European movers:
Henkel jumps as much as 6.6%, the biggest gainer on the Stoxx 600 benchmark, after the German chemicals firm boosted its organic sales and adjusted Ebit margin forecasts for the full year
Credit Agricole shares rise as much as 4.2% to a fresh six-year high after the French bank delivered a big net income beat in the first quarter, according to analysts
Novonesis shares rise as much as 5.7%, the most since Oct. 26, after the Danish company reaffirmed its organic revenue forecast for the full year, rebounding from a recent slump
JCDecaux shares jump as much as 13% to the highest in more than a year after the outdoor advertising firm set a second-quarter revenue growth target that were ahead of expectations
Trainline gains as much as 9% after the online ticket retailer posted an earnings beat and upgraded its 2025 Ebitda forecast. It also announced a new £75 million share buyback program
Siemens Energy gains as much as 3.3% after Deutsche Bank raised the recommendation on the German renewable energy company to buy from hold, citing its newly-listed peer GE Vernova
Hensoldt, Renk and Rheinmetall gain as Hauck & Aufhaeuser initiates coverage of the defense contractors at buy, seeing quality in the sector and noting their resilient business model
Novo Nordisk falls as much as 4.9% after Amgen’s CEO said he was “very encouraged” by early results from a study of the US company’s experimental obesity drug, MariTide
Danske Bank falls as much as 5.7%, the most since March, after the Danish lender’s NII for the first quarter was weaker than expected, which also weighed on overall revenues in the period
Aurubis drops as much as 12%, the most since September, as UBS cuts its recommendation on the copper smelting firm to sell from buy, saying material market tightness is likely to persist
Daimler Truck declines as much as 7.3%, the most since July 2022, after the German truckmaker warned that it was seeing an increasingly difficult environment in its key European market
Bpost falls as much as 9%, the most since January, after the courier service released results that missed expectations on Ebit as M&A costs weighed, according to Jefferies
Earlier in the session, Asian stocks gained with the Hang Seng Index surging 1.5% to cap a ninth straight session of gains, the longest winning streak since 2018. Chinese technology giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd. were among the top contributors to the advance.
In FX, the dollar declined 0.2% against all its Group-of-10 peers, with the Bloomberg dollar index heading for a 0.9% loss this week as traders pulled forward expectations for the first Fed rate cut to November ahead of today’s jobs report. its worst since early March. The yen strengthened as traders mulled news that authorities had likely spent about $23 billion in their second suspected currency intervention this week; Japan markets were shut for a local holiday. The Norwegian krone climbed after the nation’s central bank said tight policy may be needed somewhat longer, as it held the key interest rate steady at 4.5%, in line with expectations.
Treasuries are narrowly mixed with the yield curve flatter ahead of the April jobs report, holding most of the past two days’ steepening rally. 7- to 30-year yields are lower by ~1bp with shorter tenors little changed; 2s10s spread flattens ~2bp, unwinding less than half of Thursday’s steepening move. 5s30s spread remains near top of Thursday’s range at ~15bp. 10-year yield 4.57%, slightly outperforming bunds and gilts in the sector.
Oil prices are flat, with WTI trading near $79 a barrel. Spot gold falls 0.2% to around $2,300/oz.
Looking at today’s calendar, US economic data slate includes April jobs report (8:30am), S&P Global US services PMI (9:45am) and ISM services (10am). Fed members’ scheduled speeches include Chicago’s Goolsbee (10:30am and 7:45pm) and New York’s Williams (7:45pm)
Market Snapshot
S&P 500 futures up 0.3% to 5,106.00
STOXX Europe 600 up 0.2% to 504.33
MXAP up 0.7% to 177.18
MXAPJ up 0.8% to 546.84
Nikkei little changed at 38,236.07
Topix little changed at 2,728.53
Hang Seng Index up 1.5% to 18,475.92
Shanghai Composite down 0.3% to 3,104.82
Sensex down 1.4% to 73,569.19
Australia S&P/ASX 200 up 0.6% to 7,628.97
Kospi down 0.3% to 2,676.63
German 10Y yield little changed at 2.54%
Euro up 0.1% to $1.0741
Brent Futures up 0.2% to $83.80/bbl
Gold spot down 0.2% to $2,298.75
US Dollar Index little changed at 105.22
Top Overnight News
Four Chinese generative artificial intelligence start-ups have been valued at between $1.2bn and $2.5bn in the past three months, leading a pack of more than 260 companies vying to emulate the success of US rivals such as OpenAI and Anthropic. The newly minted unicorns — Zhipu AI, Moonshot AI, MiniMax and 01.ai — have gained significant backing from a largely domestic pool of investors and are fighting to hire the best talent to develop the most popular AI products. FT
Across China and among the global scientific community, Friday’s launch of a Chinese mission to collect samples from the moon’s far side has been hailed for its potential for a scientific breakthrough. But in the U.S., lawmakers and the National Aeronautics and Space Administration are closely watching the expedition with trepidation: as a milestone in a rival’s campaign to build a base on the moon’s most strategic location. WSJ
Norway’s central bank leaves rates unchanged (as expected) and says “the policy rate will likely be kept at today’s level for some time ahead”. RTRS
Britain’s Conservative Party suffered striking early setbacks on Friday in local elections that are viewed as a barometer for how the party will perform in a coming general election and a key test for the embattled prime minister, Rishi Sunak. NYT
The OPEC+ group of countries could extend their production cuts beyond June if demand fails to improve, creating upside risks for oil prices. RTRS
The NBA is targeting $76 billion in TV rights over 11 years, three times its current deal, people familiar said. Disney and Amazon have agreed to the framework, while Warner Bros. is racing Comcast for a third package. BBG
Dated Brent has seen record trading volumes in both physical and derivative markets since WTI Midland was added to the grades that determine its price. It’s eliminated decades-long concerns over the benchmark’s viability amid shrinking North Sea production. BBG
AAPL +6% beat … “guided up LSD. Upside on Services, China revs, iPhone revs .. $110bn BUYBACK .. Revenues $90.33bn vs cons $90.3b (-4.8% y/y). iPhone revenues $45.96bn vs cons $45.76bn (-11% y/y). Services revenues $23.87bn vs cons $23.28bn (+11.4% y/y. China revenues $16.37 (-8% y/y) vs cons $15.9bn. Inventories $6.232bn (vs $6.5bn last qtr). EPS $1.53 vs cons $1.50. GS Trading
Earnings
Apple Inc (AAPL) Q2 2024 (USD): EPS 1.53 (exp. 1.50), Revenue 90.75bln (exp. 90.01bln); to buy back additional 110bln of shares and boosts quarterly dividend 4% to 0.25/shr, Revenue breakdown: Products 66.89bln (exp. 66.95bln), iPhone 45.96bln (exp. 45.76bln), Mac 7.45bln (exp. 6.79bln), iPad 5.56bln (exp. 5.91bln), Wearables, home and accessories 7.91bln (exp. 8.29bln), Service 23.87bln (exp. 23.28bln), Greater China revenue 16.37bln (exp. 15.87bln). Shares +5.9% in pre-market trade
Amgen Inc (AMGN) Q1 2024 (USD): Adj. EPS 3.96 (exp. 3.87), Revenue 7.45bln (exp. 7.44bln); Still sees share buyback up to 500mln. Shares +14.9% in pre-market trade
A more detailed look at global market courtesy of Newsquawk
APAC stocks took impetus from Wall St where equities extended on post-FOMC gains and futures were also lifted by Apple’s earnings beat, but with upside capped in the region amid key market closures including in Japan and Mainland China. ASX 200 traded higher as real estate led the outperformance in the rate-sensitive sectors. Hang Seng extended its rally after having recently entered a bull market and following stronger GDP data.
Top Asian News
China May Day railway travel reached a record high of around 20.7mln trips, according to Xinhua.
US FCC said roughly 40% of US telecom companies cannot replace Huawei or ZTE equipment in US networks without additional government funding.
European bourses, Stoxx600 (+0.2%) are entirely in the green, and with price action fairly muted as participants await the US Employment report at 13:30 BST / 08:30 EDT. European sectors hold a strong positive tilt, with Media taking the top spot, lifted by post-earning gains in JCDecaux (+12.5%) and UMG (+2.5%). Healthcare is found at the foot of the pile, dragged lower by Novo Nordisk (-4.5%), after recent Amgen updates. US Equity Futures (ES +0.3, NQ +0.6%, RTY -0.2%) are mixed, with clear outperformance in the NQ lifted by pre-market gains in Apple (+5.7%) after its earnings.
Top European News
Norges Bank maintains its Key Policy Rate at 4.50% as expected; the data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged. Click here for more details. Norges Bank Chief Bache says Norges has not decided when to cut rates.
UK opposition Labour party wins Blackpool South by-election, taking the seat from the Conservatives in a blow for PM Sunak, according to BBC. It was also reported that the Labour party gained Hartlepool from no overall control in the local elections and they also claimed a win for Thurrock Council which the Tories won last year but had moved to no overall control after defections. Thus far, only around 30 of the 107 councils have declared but the swing as it stands is to Labour at the expense of the Conservatives. As a reminder, there have been reports in recent days that a bad result at the local elections could see MPs put in a no-confidence vote in PM Sunak in the next week or so.
ECB’s Lane said given the lags in transmission, the tightening effects from past interest rate hikes are still unfolding, while he noted expectations of future inflation normalising further and that leaving nominal rates unchanged implies a mechanical increase in real interest rates. Lane said moving from one meeting to the next meeting and from one projection round to the next projection round allows for the accumulation of further data that can help inform the rate decision. Furthermore, Lane said inflation has declined more quickly than expected and noted the more the data validates inflation coming back to the target, the more they will be able to remove restrictions this year and next year.
ECB’s Stournaras said three ECB rate cuts are more likely this year and the latest euro-area GDP figures were a positive surprise, according to comments made to Liberal cited by Bloomberg.
German Engineering Orders -17% Y/Y in March (Domestic -23%; Foreign Orders -15%), Jan-Mar orders -13% (Domestic -16%; Foreign -12%), according to VDMA
FX
DXY is modestly lower on NFP day and within 105.16-37 confines after dipping under yesterday’s trough (105.29) in APAC hours as with the next downside level the 11th April low (105.03) before the round figure.
Sideways trade for the EUR against the Dollar amid a lack of drivers, whilst dovish ECB commentary continues with ECB’s Lane yesterday. EUR/USD trades within a narrow 1.0725-45 parameter at the time of writing.
Yen stands as one of the G10 outperformers despite a lack of fresh headlines following this week’s double suspected intervention. USD/JPY trades in a 152.76-153.75 intraday band with potential support at the 12th April low (152.59).
Antipodeans are modestly firmer and holding on to recent spoils and remained afloat amid the constructive mood but with price action quiet amid a lack of drivers. AUD/USD briefly topped its 100 DMA (0.6581).
NOK came under some modest pressure as policy settings were maintained by Norges Bank but then appreciated slightly on the line that “the data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged.”
Fixed Income
USTs are flat/incrementally softer with the curve flattening on the margin as the post-FOMC steepening settles into NFP and Fed speak. Currently within a busy 114’25-155’04 range.
Bunds are firmer but only modestly so with overnight action sparse on account of Japan’s holiday and EZ-specific drivers limited thus far; docket very much focused on US NFP & ISM Services alongside a handful of Fed speakers.
Gilt price action has been in-fitting with EGBs after Thursday’s session of outperformance. UK specifics light before Monday’s bank holiday and then a packed week incl. the BoE on Thursday.
Commodities
Crude is modestly firmer intraday but consolidating in the grander scheme after futures were relatively flat yesterday following a choppy session as participants await developments on the Israel-Hamas front after reports noted of “positive” spirit in talks. Brent July trades in a USD 83.77-84.15/bbl range.
Precious metals are subdued but contained ahead of key US data and amid the absence of updates on the geopolitical front. XAU sits in a narrow USD 2,297.85-2,308.80/oz parameter.
Base metals are mostly firmer across the board, but more so consolidation after yesterday’s weakness, with sentiment not helped by the absence of Chinese markets.
Geopolitics
Israeli air strike hit a security building outside the Syrian capital of Damascus, according to a security source cited by Reuters, while Syrian state media later reported that 8 soldiers were injured in the Israeli airstrike on the outskirts of Damascus.
Hezbollah announced it targeted the headquarters of Israel’s 91st Division in the Branet barracks with rocket-propelled grenades, according to Sky News Arabia.
Islamic Resistance in Iraq launched attacks on targets in Israel with Arqab-type cruise missiles from Iraqi territory which was the first attack targeting Israel’s Tel Aviv by the Islamic Resistance in Iraq, according to a source in the group.
Israel National Security Minister Gvir called on PM Netanyahu to remove Defence Minister Galant from office as he is not fit to continue his work as the defence minister.
Israel’s Foreign Minister said Turkish President Erdogan is breaking agreements by blocking ports for Israeli imports and exports.
Russian military personnel entered an air base in Niger that is hosting US troops which follows a decision by Niger’s Junta to expel US forces from the country, according to Reuters citing a US official. However, US Defense Secretary Austin later commented that Russians do not have access to US forces or equipment in Niger and they will continue to watch the presence of Russian forces in Niger.
US event calendar
08:30: April Labor Force Participation Rate, est. 62.7%, prior 62.7%
08:30: April Average Weekly Hours All Emplo, est. 34.4, prior 34.4
08:30: April Average Hourly Earnings YoY, est. 4.0%, prior 4.1%
08:30: April Average Hourly Earnings MoM, est. 0.3%, prior 0.3%
08:30: April Change in Manufact. Payrolls, est. 5,000, prior zero
08:30: April Change in Private Payrolls, est. 195,000, prior 232,000
08:30: April Unemployment Rate, est. 3.8%, prior 3.8%
08:30: April Change in Nonfarm Payrolls, est. 240,000, prior 303,000
09:45: April S&P Global US Composite PMI, est. 51.0, prior 50.9
09:45: April S&P Global US Services PMI, est. 51.0, prior 50.9
10:00: April ISM Services Index, est. 52.0, prior 51.4
Speaking at a campaign rally in Wisconsin on Wednesday, Donald Trump urged that Europe has “opened its doors to jihad” and as a result, cities including London and Paris are sacrificing their own culture and tradition.
We’ve seen what happened when Europe opened their doors to jihad,” Trump told the large crowd, adding “Look at Paris, look at London – they’re no longer recognisable.”
“I’m going get myself into a lot of trouble with the folks in Paris and the folks in London, but you know what, that’s the fact,” he continued.
“They are no longer recognisable and we can’t let that happen to our country,” Trump urged, adding “We have incredible culture, tradition – nothing wrong with their culture, their tradition – we can’t let that happen here.”
“I’ll never let it happen to the United States of America,” he further promised.
Trump also referred to the pro-Palestine/Anti-Israel encampments and University occupations in several US cities.
“To every college president, I say remove the encampments immediately,” he said, adding “Vanquish the radicals and take back our campuses for all of the normal students who want a safe place from which to learn.
The protests have followed from regular demonstrations in Europe, particularly in London where they have been ongoing every week since late last year.
Trump has previously slammed London and Paris, noting in 2016 that “London and other places… are so radicalised that the police are afraid for their own lives.”
In Paris, the police have just conducted a fresh round of “social cleansing” illegal migrants off the street and sending them to other areas of the country ahead of the Summer Olympics.
The French government wouldn’t want the city to look “unrecognisable,” to the world, right?
Trump’s comments also come on the heels of Austrian MEP Harald Vilimsky warning that Europe risks becoming “a second Arabia or Africa” and that governments are importing migrants who create security problems then offering ‘solutions’ that only punish native populations.
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Macron Says He’d Send Troops To Ukraine If Russians Advance & If Zelensky Asks
FRIDAY, MAY 03, 2024 – 02:25 PM
French President Emmanuel Macron has once again brought the possibility of Western ‘boots on the ground’ in Ukraine back into international headlines, after first controversially floating that the idea can’t be ruled out months ago.
In a fresh interview with The Economist, Macron said the possibility of injecting NATO troops into the conflict would “legitimately” arise in the scenario the Russia broke through the front lines and if the Zelensky government specifically made such a request.
Macron explained to the magazine that “if Russia decided to go further, we will in any case all have to ask ourselves this question” of sending troops. He called his prior words before NATO-member defense ministers in Paris urging them to not rule out troops a “strategic wake-up call for my counterparts.”
ays ago in a speech he dramatically declared that Europe is “mortal” and could “die” if Russia wins in Ukraine and continues on an expansionist, destructive path (an assumption that many knowledgeable analysts have rejected as a real aim of Putin’s).
Speaking to the The Economist, Macron further called Russia “a power of regional destabilization” and “a threat to Europeans’ security”.
“I have a clear strategic objective: Russia cannot win in Ukraine,” Macron continued. “If Russia wins in Ukraine, there will be no security in Europe.”
“Who can pretend that Russia will stop there? What security will there be for the other neighboring countries: Moldova, Romania, Poland, Lithuania and the others?” he posed theoretically.
A key problem and danger for escalation posed by Macron’s words is that Russian forces are already breaking through front linesin some key areas in the east.
As expected, these fresh and provocative remarks drew swift condemnation from the Kremlin, with Putin spokesman Dmitry Peskov saying “The statement is very important and very dangerous.”
Macron “continues to constantly talk about the possibility of direct involvement on the ground in the conflict around Ukraine. This is a very dangerous trend,” Peskov emphasized.
Peskov also called out remarks by UK Foreign Secretary David Cameron, who has also traveled to Kiev. He said the hawkish stance of France and the UK “potentially pose a danger to European security, to the entire European security architecture.”
“We see a dangerous tendency towards escalation in official statements. This is raising our concern,” he concluded.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL/HAMAS
ISRAEL/SYRIA
Israeli Warplanes Strike Damascus As Iran Tensions Still On Edge
THURSDAY, MAY 02, 2024 – 04:50 PM
Israeli aircraft have reportedlyattacked a location on the outskirts of the Syrian capital of Damascus late Thursday (local), a security source told Reuters.
Widely circulating images have emerged on social media showing plumes of smoke rising high over buildings which were struck. Syrian state media subsequently said that eight army soldiers were injured in the attack
Pictures coming from Damascus after the Israeli airstrikes.
·
The fresh Israeli aggression could be another targeted assassination operation against Iranian generals or IRGC officers, and certainly would also be intended to signal Israel remains undeterred by Iran’s April 13th attack, which was in retaliation for the prior Israeli attack on Iran’s embassy in Damascus.
According to unverified social media reports:
The Israeli attack against Syria targeted the building of the Syrian State Security branch in the “Najha” area in the Damascus countryside.
There has been some speculation that this is an Israeli response to the launch of rockets from the Syrian side towards the Golan Heights earlier in the day and week.
END
LEBANON/HEZBOLLAH
Lebanese political leader sounds the alarm on Hezbollah
Lebanon may be tired of the excesses of Hezbollah and how it is dragging the country into conflict.
Lebanese army members stand near a poster of Fadi Bejjani who died during exchange of fire at the area where a truck was overturned the previous night, in the town of Kahaleh, Lebanon August 10, 2023.(photo credit: MOHAMED AZAKIR/REUTERS)
The leader of the Lebanese Forces, a Christian political party in Lebanon, sounded the alarm on Hezbollah and the low-level conflict with Israel that it has brought on Lebanon. His comments were published by the Associated Press this week and represent an important development in the Lebanese political landscape.
They coincide with a BBC report that also revealed how the ongoing clashes have led some areas in southern Lebanon to be deserted.
Hezbollah pretends that it is waging a successful war on Israel. In Israel, there is concern that this is the new normal, and there are discussions and disputes reported in Ynet on Thursday among the security establishment about how best to deal with Hezbollah.
END
ISRAEL BAHRAIN
“Islamic Resistance In Bahrain” Claims First Ever Attack On Israel
FRIDAY, MAY 03, 2024 – 04:15 AM
Previously we detailed the ongoing Saudi crackdown on the potential for an ‘Islamist uprising’ in response to Arab Gulf countries normalizing relations with Israel. So far, the UAE has normalized, and Bahrain too, and now Saudi Arabia is said to be on the cusp.
On Thursday there emerged reports of an unprecedented first: a group by the name of the “Islamic Resistance in Bahrain” has claimed its first ever attack on Israel in retaliation for Israeli military operations in Gaza.
The Islamic Resistance in “Bahrain ?!!” “Saraya Al-Ashtar,” has released footage of a drone attack on the headquarters of the Trucknet transport company in Umm al-Rashrash (Eilat),
The group identifying itself in Arabic as Saraya al-Ashtar or al-Ashtar Brigades launched drones against the southern Israeli port city of Eilat. It reportedly happened on Saturday, but has only late this week been announced by the relatively unknown group.
The group announced that it “targeted the headquarters of the company responsible for land transportation in the Zionist entity [Trucknet] in the city of Umm al-Rashrash [Eilat] in occupied Palestine” – as cited in Al Jazeera. Eilat has been a frequent target of Yemen’s Houthis amid the ongoing Red Sea crisis.
The Israeli land transport company ‘Trucknet” is very active in Arab Gulf countries and is seen as a vital element in restoring Israel-Gulf ties. It is as yet unclear from where the Bahraini group launched the attack. There’s a likelihood it was operating from Yemeni territory.
This attack is likely intended to disrupt both diplomatic and economic ties between Bahrain and Israel:
Trucknet, which is an Israeli transport company, signed an agreement in March to transfer oil between Israel and Arab countries. Saraya al-Ashtar is designated as a “terrorist” organisation by the US, which says it has ties with Iran.
In September Israel took the unprecedented step of opening an embassy in Bahrain based on Abraham Accords talks. However the Gaza war in the wake of Oct.7 disrupted things, and Bahrain recalled its ambassador from Israel. Yet later, by December, Bahrain signaled that it remains committed to normalized ties with Israel.
The wealthy island-nation which sits just off the Saudi coast plays host to the US Naval Forces Central Command (NAVCENT), as well as the US 5th Fleet and others.
Bahrain’s Shia population and activist groups during the period of the so-called Arab Spring sought to lead large demonstrations toward toppling the Sunni monarchy, however, the Saudis sent tanks across the lengthy causeway to help quell the uprising.
Bahrain was largely left out of Washington’s ‘freedom rhetoric’ during the Arab Spring while the media spotlight was focused on places like Egypt, Libya and Syria. This is because the US needs strong Sunni Gulf rulers willing to host the Pentagon and keep the oil and gas contracts, and to clamp down on the restive Shia population in the region.
Also on Thursday there have been reports that Iran-linked groups in Iraq launched fresh cruise missile attacks on Israel, but there’s been no confirmation that projectiles made it to Israeli airspace.
END
GAZANS/USA
These are the last people on earth that you need to come to the USA
(zerohedge)
Republicans Move To Prevent Biden Resettling Palestinian Refugees In The US
Republican lawmakers are moving to prevent the Biden administration resettling Palestinian refugees in the United States, asserting that it represents a “national security threat” since large numbers of them support Hamas.
Earlier this week, it was revealed that the White House is considering using the United States Refugee Admissions Program to hand Palestinians permanent residency and “resettlement benefits like housing assistance and a path to American citizenship.”
Although CBS News reported that the “eligible population is expected to be relatively small,” European natives were given similar assurances before the 2015 refugee crisis that ended up with millions of migrants flooding the continent.
In a letter to House Appropriators, Reps. Andy Ogles (R-TN), Tom Tiffany (R-WI), and Scott Perry (R-PA) have asked that a provision be included in the Fiscal Year 2025 spending bill that prevents expenditures “of any funds to issue a visa or grant parole to any alien holding a passport issued by the Palestinian Authority.”
“Whatever fanciful leftist notion to the contrary, the United States of America cannot be expected to absorb the rest of the world’s problems. It would make much more sense for states in the region to take in those in need. If the administration is indeed working in concert with our allies in the region to pave the way for peace, that should come with the expectation that those allies are working in good faith to “do their part,” states the letter.
35 Senate Republicans are also demanding more specifics on the resettlement program, asserting that it represents “a national security risk to the United States.”
“With more than a third of Gazans supporting the Hamas militants, we are not confident that your administration can adequately vet this high-risk population for terrorist ties and sympathies before admitting them into the United States,” said the Senators.
A leaked Israeli intelligence document revealed in late October last year revealed a plan to ‘expel’ 2.2 million Palestinian refugees and send them to Europe, Canada and the United States.
The document, produced by Israel’s Intelligence Ministry, stated that one of the goals of the war with Gaza was to encourage western countries to facilitate the “absorption and settlement” of Gazan refugees.
Back in March, Jared Kushner said it was “unfortunate” that Europe isn’t taking in more Palestinian refugees, suggesting that the “cleaning up” of Palestinians from the Gaza Strip should be accelerated.
Meanwhile, as we highlight in the video below, while Americans could be set to see yet another influx of migrants thanks to Israel’s destruction of Gaza, criticizing the Middle Eastern country could technically become illegal under the draconian Antisemitism Awareness Act.
* * *
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Israel gives Hamas one week to accept hostage deal before Rafah op. will begin – WSJ report
Yahya Sinwar, Hamas’s Gaza chief, has yet to make his response known, further complicating the situation.
(L-R) Prime Minister Benjamin Netanyahu; Hamas leader Yahya Sinwar(photo credit: REUTERS)
Israel gave Hamas a week to agree to a cease-fire deal, or the invasion of Rafah will begin, Egyptian officials told the Wall Street Journal on Friday.
Egyptian officials claimed that Hamas is seeking a long-term truce and guarantees from the US that a cease-fire will be respected by Israel.
Hamas expressed concern that the latest proposal is still too vague and gives Israel room to restart the fighting.
RUSSIA/UKRAINE
end
RUSSIA/UKRAINE
end
6.Global Issues//COVID ISSUES
COVID ISSUES/VACCINE ISSUES//DRUG ISSUES
Jim Jordan Drops “Smoking Gun” Over White House ‘Lab Leak’ Suppression At Facebook
THURSDAY, MAY 02, 2024 – 08:10 PM
Rep Jim Jordan (R-OH) has released several new pieces of previously unseen information revealing what Elon Musk called a “smoking gun” in regards White House pressure on Facebook to censor the lab leak theory of Covid-19.
First, Jordan shares a text message from Mark Zuckerberg to Sheryl Sandberg, Nick Clegg and Joel Kaplan – the company’s highest-ranking executives at the time, in which he asks if Facebook can tell the world that “the [Biden] WH put pressure on us to censor the lab leak theory?” – hours after Biden accused Facebook of “killing people.”
On July 16, 2021, Mark Zuckerberg texted Sheryl Sandberg, Nick Clegg, and Joel Kaplan.
Three of the highest ranking executives at Facebook.
Could Facebook tell the world that “the [Biden] WH put pressure on us to censor the lab leak theory?" pic.twitter.com/B1Wno3ayTW
A top scientist said in newly disclosed testimony that a lab origin for the virus that causes COVID-19 is possible, citing how Chinese scientists operated in less-than-ideal conditions
“You can’t rule that out,” Ralph [‘humanized mice for testing bat Covid‘] Baric, a University of North Carolina professor and member of the U.S. National Academy of Sciences, said in the testimony.
Mr. Baric pointed to how researchers at the Wuhan Institute of Virology, located near where the first cases of COVID-19 were detected, conducted experiments on viruses under biosafety level two conditions, rather than the biosafety level three conditions typically employed elsewhere.
Mr. Baric has for years worked with Shi Zhengli and other Wuhan scientists, testing enhanced viruses in work they say helps prepare for outbreaks by making it easier to develop countermeasures such as vaccines.
Ms. Zhengli and other scientists in Wuhan were doing culturing work under biosafety level two conditions into 2020, “which I thought was irresponsible,” Mr. Baric said. That was “one of the main reasons why I felt that the potential laboratory escape hypothesis shouldn’t be, in essence, put under the rug.”
He was speaking on Jan. 22 to the U.S. House of Representatives Select Subcommittee on the Coronavirus Pandemic. The panel released the transcript on May 1.
Mr. Baric, who holds a doctorate in microbiology, told the subcommittee that he favored the theory that SARS-CoV-2, the virus that causes COVID-19, has a natural origin due in part to the odds being tilted that way.
“What’s more likely, is it a lab leak or is it natural processes? You’re looking at … a million exposures [between nature and humans] occurring over 17 years versus what happens in a laboratory setting,” Mr. Baric testified. He said that the diversity in nature ran hundreds of millions of times larger than the viruses in the Wuhan Institute of Virology. “If you consider that, it’s more likely to be a natural event than it is to come out of the laboratory,” he said.
Experts around the world remain divided on the origins of the pandemic. Some believe the available evidence supports a lab origin, highlighting how Chinese authorities destroyed evidence from the Wuhan Institute of Virology and the lower safety standards there. Others say data from a wet market in Wuhan suggest a natural origin.
Mr. Baric said he reviewed the data from the market and described it as showing the market was a “site of amplification.” But he noted that the studies suggest cases there didn’t appear until December 2019, while other papers have indicated cases started earlier in China.
“Clearly, the market was a conduit for expansion,” he said. “Is that where it started? I don’t think so.”
Peter Daszak, president of the EcoHealth Alliance organization—which for years sent U.S. taxpayer money to the WIV—signed an open letter published by The Lancet in 2020 that said, “We stand together to strongly condemn conspiracy theories suggesting that COVID-19 does not have a natural origin.”
Questioned about the definitive statement, Mr. Daszak told the panel on Wednesday that “we take all theories seriously” and that a lab origin for SARS-CoV-2 remains “possible but extremely unlikely, based on the evidence we have.”
“I just don’t think the data are there to support that. And I think that the evidence that this came from a natural spillover is huge and growing every week,” he added.
Mr. Baric said he was asked to sign the Lancet letter but declined because of his work with WIV. Mr. Daszak did not disclose his work with WIV in the conflicts of interest section. Mr. Baric instead signed a letter calling for an investigation into the origins that said “theories of accidental release from a lab and zoonotic spillover both remain viable.”
John Ratcliffe, a former director of national intelligence, told the subcommittee in 2023 that the lab leak theory “is the only explanation credibly supported by our intelligence, by science, and by common sense.” A declassified assessment that year said five intelligence agencies assess natural origin as more likely while two others lean towards a lab origin. Most agencies say the virus was not genetically engineered and all believe it was not developed as a biological weapon.
Xavier Becerra, the U.S. health secretary, said at a summit in April that any ideas about the origin are “speculation” because China has withheld some data. “We’re never going to quite know unless China opens up some more,” he said.
end
Peter Daszak Seemingly Perjures Himself Before Congress: Criminal Prosecution Imminent?
COVID Propaganda Roundup: The latest updates on the “new normal” – chronicling the lies, distortions, and abuses by the ruling class.
Not being naïve to how this all works, I’ll hold out any definitive hope that anything in the way of justice will come of this, given how compromised the feckless GOP is and how downright criminally complicit the Democrat Party is in the context of the greatest, yet-unpunished criminal conspiracy in world history.
But, on the surface at least, recent developments appear to be progress toward that end.
It came to light that month that the Republican House had successfully cajoled EcoHealth president Peter Daszak — the dutiful conduit through which Anthony Fauci funneled gain-of-function research cash to the Wuhan lab from whence COVID likely emerged — to subject himself to questioning under oath (meaning, importantly, under threat of perjury) on May 1.
“House Energy and Commerce Committee (E&C) Chair Cathy McMorris Rodgers (R-WA), E&C Subcommittee on Oversight and Investigations Chair Morgan Griffith (R-VA), and E&C Subcommittee on Health Chair Brett Guthrie (R-KY), Select Subcommittee on the Coronavirus Pandemic Chair Brad Wenstrup (R-OH), and House Oversight and Accountability Committee Chair James Comer (R-KY) announced that EcoHealth Alliance (EcoHealth) President Dr. Peter Daszak will appear for a public hearing on May 1, 2024.
EcoHealth—a U.S.-based non-profit whose mission is to prevent pandemics—used taxpayer dollars to fund dangerous gain-of-function research at the Wuhan Institute of Virology (WIV).
During his closed-door transcribed interview with the Committees on November 14, 2023, Dr. Daszak made multiple statements inconsistent with documents and evidence reviewed by the Committees. This raises serious questions about the veracity of EcoHealth’s public statements, including its insistence that the research it funded at the WIV could not have caused the pandemic.
The Chairs are calling on Dr. Daszak to address the discrepancies in his testimony and publicly explain EcoHealth’s relationship with the WIV.”
“Republicans in the US House of Representatives publicly grilled infectious-disease specialist Peter Daszak today during a long-awaited hearing on Capitol Hill. In their questioning they suggested that Daszak and the non-profit organization he heads, EcoHealth Alliance in New York City, knowingly conducted dangerous research by studying coronaviruses in partnership with a virology laboratory in Wuhan, China, the city in which the first COVID-19 cases were reported…
At the start of the hearing, subcommittee chairman Brad Wenstrup, a Republican representative from Ohio, announced the findings of a report evaluating EcoHealth’s research activities, which was issued earlier in the day. The interim report, released by the subcommittee’s Republican members, states that EcoHealth failed to disclose high-risk, ‘gain-of-function’ research that it conducted in partnership with the Wuhan Institute of Virology (WIV). Furthermore, the report recommends that the organization should be barred from receiving future federal funds and criminally investigated.”
The two-pronged defense that Daszak, like his comrade Fauci, has repeatedly employed through convoluted sophistry is that:
· souping up coronaviruses to make them more infectious and deadly — the obvious, common-sense, universally understood definition of “gain-of-function” — is somehow not gain-of-function research
· criticizing scientists personally for breach of ethics and lying to Congress and likely killing more people than the Third Reich and maybe even Mao is tantamount to “attacking science”
The Science™ apologists have continued that grand tradition in defense of their superiors in the clergy — upon whom they, surely entirely coincidentally, rely on for financial sponsorship.
Continuing via Nature:
“Daszak disagreed that the work carried out by EcoHealth and the WIV met the definition of gain-of-function research. To fall under that category, he said, an experiment would need to be likely to increase a virus’s transmission or pathogenicity, and the virus would already have to be known to infect humans. ‘Because the work we were doing was on bat coronaviruses, it was not covered by those rules,’ Daszak said, referring to a definition used by the US National Institutes of Health (NIH) to evaluate grants involving research with pathogens…
Angela Rasmussen, a virologist at the University of Saskatchewan in Saskatoon, Canada, says she was disappointed that the Democrats joined the Republicans in what she describes as ‘essentially an attack on science’. ‘It’s a very dangerous situation because most scientists who are approaching any problem — whether it’s the origins of the pandemic, whether it’s anything else — are going to think twice: should I actually get involved in research that is high impact but potentially politically controversial?’”
Contributor posts published on Zero Hedge do not necessarily represent the views and opinions of Zero Hedge, and are not selected, edited or screened by Zero Hedge editor
CDC Caught Covering Up Evidence That Covid Shots Cause DeathThe U.S. Centers for Disease Control and Prevention (CDC) discovered evidence that Covid mRNA shots were causing deaths but chose to cover up the information to keep it hidden from the public, bombshell internal documents have revealed.READ MORE
Democrat Gets A BIG Dose Of Karma After Getting Caught On CameraThe Empire State may tolerate lawlessness within its boundaries, but the Sunshine State does not share the same leniency. Bodycam footage captured by a Monroe County, Florida, sheriff’s deputy depicts the arrest of Richard Brothers, a New York native visiting the Florida Keys, on a felony charge of property damage as a form of political expression. Those considering a visit …READ THE FULL REPORT
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 FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0746 UP .0017
USA/ YEN 153.22 UP 0.093 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2554 UP .0015
USA/CAN DOLLAR: 1.3666 DOWN .0001(CDN DOLLAR UP 1 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED
Hang Seng CLOSED UP 268.79 PTS OR 1.48%
AUSTRALIA CLOSED UP 0.61
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 268.79 OR 1.48%
/SHANGHAI CLOSED
AUSTRALIA BOURSE CLOSED UP 0.61%
(Nikkei (Japan) CLOSED
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2297.90
silver:$26.44
USA dollar index early FRIDAY morning: 105.07 DOWN 11 BASIS POINTS FROM THURSDAY’s CLOSE.
The USA/Yuan, CNY: closed XXX ON SHORE CLOSED UP AT XXX
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1929)
TURKISH LIRA: 32.25 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.894…
Your closing 10 yr US bond yield DOWN 6 in basis points from THURSDAY at 4.505% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.673 DOWN 5 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.801DOWN 8 BASIS PTS.
GOLD AT 11;30 AM 2293.15
SILVER AT 11;30: 26.32
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 41.34 PTS OR 0.51
German Dax : CLOSED UP 105.10 PTS OR .50%
Paris CAC CLOSED UP 42.92 PTS OR .54%
Spain IBEX CLOSED DOWN 17,20 OR .16%
Italian MIB: CLOSED DOWN 107.19 PTS OR .32 PTS
WTI Oil price 78.14 12EST/
Brent Oil: 83.20 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 91.60 ROUBLE UP 0 AND 45/100
GERMAN 10 YR BOND YIELD; +2.4960 DOWN 36BASIS PTS.
UK 10 YR YIELD: 4.2640 DOWN 4 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0768 UP 0.0038 OR 38 BASIS POINTS
British Pound: 1.2553 UP 0.013 UP 13 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.260 DOWN 3 BASIS PTS//
JAPAN 10 YR YIELD: .894
USA dollar vs Japanese Yen: 152.87 UP/ YEN UP 26 BASIS PTS//
USA dollar vs Canadian dollar: 1.3681 DOWN.0014 //CDN dollar UP 14 BASIS PTS
West Texas intermediate oil: 78.06
Brent OIL: 82.84
USA 10 yr bond yield DOWN 57BASIS pts to 4.498
USA 30 yr bond yield DOWN 6 BASIS PTS to 4.660%
USA 2 YR BOND: DOWN 7 PTS AT 4.806
USA dollar index: 104.90 DOWN 27 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32. 34 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 91.60 UP 0 AND 46/100 roubles
GOLD 2,298.70 3:30 PM
SILVER: 26.44 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 450.22 PTS OR 1.18 %
NASDAQ UP 349.25 PTS OR 1.99 %
VOLATILITY INDEX: 13.58DOWN 1.10 PTS OR 7.49%
GLD: $212.96DOWN 0.17 OR 0.68%
SLV/ $24.22 DOWN 14 OR 0.57%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Big Taper, Bad Data, & Buyback Bonanza Sparks Buying Frenzy In Bonds & Stocks
BY TYLER DURDEN
FRIDAY, MAY 03, 2024 – 04:00 PM
The markets took on a Dickensian dimension this week as while “it was the worst of times (for economic data), it was the best of times (for stocks)”…
The US Macro Surprise Index continued its serial disappointment plunge into the red – the weakest since Feb 2023 (not helped at all by today’s payrolls miss)…
Source: Bloomberg
With growth data plunging while inflation data soared…
Source: Bloomberg
Bad news was good news though as the market only had eyes for Powell’s big taper and the buyback bonanza (from AAPL and the rest), and today’s NFP Goldilocks results (175k vs. 240k expected) as wage softness helps to ease inflation fears.
Small Caps leading the bunch amid a big short-squeeze and S&P lagging (but all green on the week)…
All the majors rallied up to their 50DMAs but were unable to breakout…
Nasdaq performed well with MAG7 stocks wildly choppy, but overall pushing back up towards record highs…
Source: Bloomberg
‘Most Shorted’ stocks suffered the biggest squeeze in two months (and biggest two-week squeeze since Jan 2023)…
Source: Bloomberg
Of particular note was Utes outperforming (while energy lagged) as the ‘Next AI Trade’ goes mainstream. Financials were also red on the week…
Source: Bloomberg
Bonds were also bid all week with yields down 12-20bps as the short-end outperformed…
Source: Bloomberg
And 2Y yields at 5.00% were thoroughly rejected as yields plunged today back below pre-CPI spike levels..
Source: Bloomberg
The dollar dropped this week, erasing almost all of the post-CPI gains…
Source: Bloomberg
Gold prices were lower on the week (second week in a row), despite the weak dollar and ‘easing’ by The Fed…
Source: Bloomberg
Despite a decent bounce back today, bitcoin was down on the week, testing back up to $62,000…
Source: Bloomberg
…after an ugly week of aggregate net outflows from BTC ETFs…
Source: Bloomberg
Oil prices plunged this week – down all five days for the worst in three months – back to near two-month lows…
Source: Bloomberg
And finally, rate-cut expectations have surged this week with 2024 now pricing in two full cuts and 2025 three more cuts…
Source: Bloomberg
Is this what Powell wanted? To ease financial conditions again!
END
MORNING TRADING/NON FARMS PAYROLLS
what a farce
April Payrolls Debacle: Biggest Miss Since 2021 As Unemployment Rate Rises
BY TYLER DURDEN
FRIDAY, MAY 03, 2024 – 08:46 AM
Ahead of today’s payrolls report, in our preview we said that while we knew we would get a slowdown, the question was how big it would be (and before that we also asked if Yellen had leaked the weaker number to Japan ahead of their multiple interventions this week to prevent them from wasting tens of billions in intervention dry capital for nothing).
So the question is: did Yellen leak to the BOJ what the next NFP and CPI prints will be?
Quote
zerohedge
@zerohedge
·
May 1
BOJ/MOF unlikely to be intervening and blowing through another $50BN or so, without some assurance from Powell/Yellen the DXY won’t go limit up in the next few days. x.com/zerohedge/stat…
·
211.6K Vie
We got the answer moments ago when the BLS reported that in April the US added just 175K jobs, a nearly 50% drop from the upward revised 315K (was 303K), the lowest print since October 2023…
and a two-sigma miss to estimates of 240K.
In fact, as shown below, this was the biggest miss since Dec 2021
As usual, prior data was net revised lower, with the change in total nonfarm payroll employment for February revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by 12,000, from +303,000 to +315,000. With these revisions, employment in February and March combined is 22,000 lower than previously reported.
What was behind the unexpected payrolls plunge? Blame government, which added just 8,000 jobs in April the least since Dec 2021, almost as if the government itself was goalseeking the final result.
Remarkably the result would have been even worse had it not been for a massive 363K addition from the birth death model.
It wasn’t just the Establishment survey: the Household survey showed that in April, the US added just 25K jobs, a huge drop from the 498K in March…
… which means that the already record divergence between the number of people employed and those who have jobs expanded by another 150K.
The weakness was pervasive, and while payrolls were a huge miss, the unemployment rate also rose more than expected, from 3.8% to 3.9%, – the highest since January 2022 – versus estimates of an unchanged print.
The unemployment rate for Blacks (5.6 percent) decreased, offsetting an increase in the prior month. The jobless rates for adult women (3.5 percent), teenagers (11.7 percent), Whites (3.5 percent), Asians (2.8 percent), and Hispanics (4.8 percent) showed little change over the month
Despite the increase in unemployment, the participation rate was unchanged at 62.7%
Wages also eased back with average hourly earnings rising 0.2% MoM, below the expected 0.3% increase and down from last month’s 0.3% print. On an annual basis, earnings rose 3.9%, down from 4.1% last month and below the 4.0% estimate.
Looking at the composition of the April job gains, the BLS notes that job gains occurred in health care, in social assistance, and in transportation and warehousing, offset by a big slowdown in government hiring.
Health care added 56,000 jobs in April, in line with the average monthly gain of 63,000 over the prior 12 months. In April, employment continued to increase in ambulatory health care services (+33,000), hospitals (+14,000), and nursing and residential care facilities (+9,000).
Employment in social assistance increased by 31,000 in April, led by a gain in individual and family services (+23,000). Social assistance had added an average of 21,000 jobs per month over the prior 12 months.
In April, transportation and warehousing added 22,000 jobs, with gains in couriers and messengers (+8,000) and warehousing and storage (+8,000). Over the prior 12 months, employment in transportation and warehousing had shown little net change.
Employment in retail trade continued to trend up in April (+20,000). Over the prior 12 months, the industry had added an average of 7,000 jobs per month. In April, employment increased in general merchandise retailers (+10,000), building material and garden equipment and supplies dealers (+7,000), and health and personal care retailers (+5,000). Electronics and appliance retailers lost 3,000 jobs.
Construction employment changed little in April (+9,000), following an increase of 40,000 in March. Over the prior 12 months, construction had added an average of 22,000 jobs per month.
Employment in government changed little in April (+8,000). Over the prior 12 months, government had added an average of 55,000 jobs per month. In April, local government employment was unchanged, following an increase of 51,000 in March.
And visually:
AFTERNOON TRADING/
II USA DATA
ISM Services Survey Slumps In April – First Contraction Since 2022 But Prices Are Accelerating
BY TYLER DURDEN
FRIDAY, MAY 03, 2024 – 10:08 AM
After the disappointing Manufacturing survey data, the signals from the Services side are not great either – even as ‘hard’ data has improved.
S&P Global’s Services PMI dropped to a five month low at 51.3 (better than the expected/flash at 50.9, but still falling).
ISM Services PMI was worse, tumbling to 49.4 (from 51.4 and expected to rise to 52.0) – the weakest print (and first contraction) since Dec 2022
Source: Bloomberg
Under the hood was worse with Prices Paid rebounding strongly while New Orders and Employment both slowed…
“Service sector growth slowed in April to point to a sluggish start to the second quarter for the US economy. Alongside a concomitant cooling in the rate of growth of manufacturing output, the weaker service sector performance means overall business activity grew in April at the slowest rate seen so far this year. At current levels, the PMI indicates that GDP is expanding at a modest annualized rate of approximately 1.5% so far in the second quarter.
“Demand has weakened, as signaled by the first fall in new orders for goods and services for six months, in part a reflection of both businesses and households adjusting to higher costs and the prospect of higher for longer interest rates.
Business optimism has likewise cooled, dropping to the lowest since November, and companies are taking a more cautious approach to staffing levels.”
So Prices Paid UP, Orders DOWN, Optimism COOLED
TUCKER CARLSON…
END
III USA ECONOMIC COMMENTARIES
Oh Oh chicken prices will start to rise
(zerohedge)
US ‘Frankenchicken’ Supply Hit With ‘Hatchery Issues’ As Production Woes May Send Prices Higher
FRIDAY, MAY 03, 2024 – 10:35 AM
As US consumers shift from beef to chicken due to elevated supermarket prices, exacerbated by a rapid decline in US cattle herds, one of the world’s largest chicken producers has issued a dire warning that chicken prices could soon increase.
Bloomberg reports that Pilgrim’s Pride Corp. and the industry as a whole have developed ‘hatchery issues’, which means a large number of eggs in incubators aren’t hatching.
On Thursday, Pilgrim’s Chief Executive Officer Fabio Sandri told investors during an earnings call that the hatchery issues stem from a new breed of rooster (Frankenchickens?) that requires closer management, indicating this is the primary cause of the decline in fertility rates industrywide.
“We don’t have the housing to separate the males by weight. We don’t have the labor to individually weigh all those males to make sure that they are at the optimal weight for reproduction,” Sandri said.
Pilgrim said because of hatchery issues, chicken production nationwide is projected to grow much less than the US Department of Agriculture’s 1.5% estimate.
USDA data shows that the number of eggs hatched began dropping right after the Covid pandemic in late 2020, from 81.5% to now 76.5%. That compares with averages above 80% over the last decade.
“The hurdle to expand production comes at a time when consumers are turning to poultry as they seek cheaper alternatives to beef,” Bloomberg noted.
Retail prices of chicken boneless breast, measured by USDA, surged from about $3 a pound in early 2020 to $4.75 a pound in September 2022, primarily due to commercial farms culling large flocks due to the bird flu. Prices have since subsided to about $4.1 a pound but risk moving higher on lower production trends.
Meanwhile, consumers have been shocked by skyrocketing beef prices as the nation’s herd size recently plunged to 73-year lows.
And the UN’s global food index risks turning back up as stagflationary threats emerge in the US economy.
Meat prices are becoming super expensive for working poor households. Bill Gates is getting his wish…
END
“Massive Fraud”: SEC Shuts Down ‘Prolific’ Auditor BF Borgers, Whose Clients Include Trump Media
FRIDAY, MAY 03, 2024 – 11:15 AM
The US Securities and Exchange Commission (SEC) shut down auditor BF Borgers, described by the Financial Times as “one of the most prolific auditors of US public companies,” over allegations of “massive fraud” that affected more than 1,500 SEC filings, the agency announced on Friday.
Borgers agreed to a $12 million civil penalty, while owner Benjamin Borgers agreed to pay $2 million to settle the SEC’s charges. The company has also agreed to permanent suspensions from practicing as accountants on SEC filings, effective immediately.
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
END
SWAMP STORIES
‘
KING REPORT
The King Report May 2, 2024 Issue 7235
Independent View of the News
US Unit Labor Costs inflated by 4.7% in Q1; 4.0% was consensus; 0.0%, revised from 0.4%, prior.
Q1 Nonfarm Productivity is 0.3%; 0.5% was expected; 3.5% prior from 3.3%.
US Initial Jobless Claims continue to be rigged to show little change. The 208k Initial Claims of the past week are the same as the prior week. Initial claims have traded sideways since Q2 2021. Bidenomics!
Continuing Claims are 1.774m, 1.79m expected, prior 1.774m, the same number! Continuing Claims have been sideways since March 2023. It’s as if the data is being crafted!
The DJTA soared early on Thursday. Avis and CH Robinson Worldwide were +16.3% at 10 ET. Both companies reported great results.
USMs traded sharply lower when Asia opened but steadily rallied until they hit a daily high of 114 31/32 at 3:48 ET. USMs then traded sideways until they broke down at 8:45 ET due to the ugly US Unit Labor Costs release at 8:30 ET. USMs hit 114 2/32 at 9:17 ET.
Powell and the leftist Fed will NOT do what is necessary to arrest inflation. So, it’s up to the US bond market to do the herculean task. This, of course, means inflicting pain via higher rates.
ESMs traded sharply higher when Asia opened. After trading sideways from 23:00 ET until 3:30 ET, ESMs commenced a plodding rally that took ESMs to a daily high of 5090.00 at 8:44 ET. Like USMs, there was a delayed reaction to the inflationary US Unit Labor Costs data. ESMs tumbled to a daily low of 5036.25 at 10:06 ET. Of course, the usual suspects aggressively bought the early tumble. ESMs soared to 5073.00 at 11:08 ET via an A-B-C rally.
Why should inflationary data bother equity traders if it doesn’t bother Powell and the leftist Fed? Plus, traders wanted to get long for expected great Apple results!
Tech Lifts Stocks Hours Away from Apple’s Earnings – BBG 12:04 ET Wall Street expects the iPhone maker to announce a buyback… (APPL + 1.9% at 12:10 ET)
After the11:08 ET, ESMs traded sideways, in a coil, until they, and Apple, exploded higher after 13:07 ET. ESMs hit 5085.25 at 13:31 ET and stalled. After 14:00 ET, ESMs moved higher and hit a new high of 5100.75 at 15:10 ET. ESMs then sank to 5080.00 at 15:45 ET and jumped to 5096.75 at 16:00 ET.
@WallStreetSilv: Jerome Powell: “Don’t really understand where talk of stagflation scenario is coming from given US data.” Our employment jobs data is fake. That has been proven. We are losing jobs, not gaining jobs. Our CPI data is fake. Our GDP data is massively goosed by govt spending.
Prof. @mtmalinen: The biggest economic lesson to be learned is that if you postpone a crisis, by any means necessary, it will just make the crisis bigger. This is a clear lesson of the history of financial crises. After 5y of “whatever it takes”, how big you think the coming crisis will be?
Positive aspects of previous session Powell demonstrated, again, that the Fed lies about being data dependent, which ignited stocks The DJTA rallied sharply on Avis and CH Robinson Worldwide’s splendid results Fangs soared on expectations that Apple would deliver great results and a buyback
Negative aspects of previous session US inflation data continues to run hot; good thing Powell & his ilk are not data dependent! USMs and ESMs sank after the US Unit Labor Cost data release; but traders remembered Powell To re-elect Biden, the Fed will let inflation roar while Obamaites blow up the US debt
Ambiguous aspects of previous session What happens to stocks after Apple reports results after today’s NYSE close?
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]: 5049.49 Previous session S&P 500 Index High/Low: 5073.21; 5011.05
Biden calls U.S. ally Japan ‘xenophobic,’ along with China and Russia (This clod is dangerous!) President Joe Biden said that the U.S. economy was growing “because we welcome immigrants” and that other countries were held back economically by anti-immigration policies. (It’s deficit spending, stupid!) https://www.nbcnews.com/news/world/biden-japan-xenophobic-rcna150332
@disclosetv: BlackRock CEO: “In the developed countries, the big winners will be countries that have shrinking populations… The social problems that one will have in substituting humans for machines is going to be far easier in those countries that have declining populations…” https://twitter.com/disclosetv/status/1786034616215691274
Tehran Propagandist Advocates Mobilizing US Students into New Hezbollah “I think the potential to repeat in the US what the Islamic Republic did in Lebanon is much higher. Our Hezbollah-style base in the US is much larger than what we have in Lebanon,” said University of Tehran professor Foad Izadi in an interview with Iran’s state TV… https://www.iranintl.com/en/202405024765
GOP Rep. @Jim_Jordan: On July 16, 2021, Mark Zuckerberg texted Sheryl Sandberg, Nick Clegg, and Joel Kaplan. Three of the highest ranking executives at Facebook. Could Facebook tell the world that “the [Biden] WH put pressure on us to censor the lab leak theory?”https://t.co/B1Wno3ayTW
@MonicaCrowley: Soros DA Alvin Bragg’s former prosecutor Mark Pomerantz PLEADS THE FIFTH when @RepMattGaetz asks him if Biden’s DOJ directed the political prosecutions of Trump: “Did you knowingly break any laws when investigating President Trump?” “I plead the 5th” “Did you violate anyone’s constitutional rights while investigating Trump?” “I plead the 5th” https://twitter.com/kylenabecker/status/1786052694530039861/video/1
Apple reported EPS of 1.53, 1.50 exp; revenue of $90.8B, $90.32B exp.; and a 10% plunge in iPhone sales (To $45.9B from $51.2B0. China sales fell 8% to $1.37B. Apple soared 7.1% in aftermarket trading because the company boosted its buyback by $110B and CEO Tim Cook invoked “AI” when he said Apple will discuss ‘big plays’ for AI at next week’s iPad event.
Today – Biden wants a strong April NFP; bulls want a soft April NFP. This has been the case the past many months – and Obama-Biden has been getting what it wants. As always, check the Household Survey’s “Employed” and NFP seasonal adjustments to verify the headline NFP number.
A short-term peak for stocks could appear today on Apple’s huge buyback; it’s AI incantation; and the usual Friday Rally. A soft NFP might help a bit; a strong NFP will be quickly dismissed because Powell clearly indicated: 1) He won’t move against inflation; and 2) He wants to cut rate to aid Biden.
In the coming days, it will be revealing if Fed hawks dispute and counter Powell’s dovishness.
Due to Apple, NQMs are +112.75; ESMs are +17.50; USMs are -6/32; and Gold is +3.82 at 20:55 ET.
Expected economic data: Apr NFP 240k, Mfg. 5k Rate 3.8%, Wages 0.3% m/m & 4.0% y/y, Workweek 34.4, Labor Force Participation Rate 62.7%; April S&P Global US Services PMI 51, Composite 51; Apr ISM Services Index 52, Prices Paid 55
S&P Index 50-day MA: 5129; 100-day MA: 4979; 150-day MA: 4780; 200-day MA: 4701 DJIA 50-day MA: 38,745; 100-day MA: 38,287; 150-day MA: 36,923, 200-day MA: 36,391 (Green is positive slope; Red is negative slope)
S&P 500 Index (5064.20) – 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 5271.99 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 4991.88 triggers a sell signal
WaPo: That time football legend, rig-driving eligible bachelor Biden was arrested Throughout his career… Biden’s propensity to exaggerate or embellish tales about his life has led to doubts about his truthfulness. Judging from our mailbag, these stories grate on some people. Here’s a roundup of recent stories that Biden has told. A number of these claims popped up during Biden’s hour-long chat on April 26 with Howard Stern on Sirius XM radio. Last year, we compiled a similar list of Biden tall tales.“I used to drive an 18-wheeler,” Biden replied. “You know what I did?”Appeared on a list of 10 most eligible bachelorsBoth to Stern and in Scranton, Biden said women would send him photos — he said to Stern they were “salacious” — and he would forward them to the Secret Service because he was afraid of being set up. Senators do not receive Secret Service protection.First in family to go to collegeState runner-up in scoring in footballArrested during a civil rights protesthttps://www.washingtonpost.com/politics/2024/05/02/that-time-football-legend-rig-driving-eligible-bachelor-biden-was-arrested/
Records show Archives official met with Biden White House counsel day of indictment against Trump – The White House visitor logs show other National Archives officials visited Biden Administration officials throughout the earliest stages of the probe into President Trump. White House officials met with National Archives on at least 19 other occasions… https://justthenews.com/government/federal-agencies/records-show-archives-official-met-biden-wh-counsel-day-indictment
Dozens of GOP senators tell Biden to focus attention on hostages, not Gazan refugees In a letter to the president, 35 GOP senators, led by Sen. Joni Ernst (R-Iowa), warned that the reported plan to resettle some Palestinians on US soil “poses a national security risk…it is nearly impossible to conduct thorough vetting.”… We demand that your administration cease planning for accepting Gazan refugees until you adequately answer our concerns and focus your attention instead on securing the release of US hostages held by Hamas.”https://nypost.com/2024/05/02/us-news/dozens-of-gop-senators-tell-biden-to-focus-attention-on-hostages-not-gazan-refugees/
@scottienhughes: College campus protests are going to shut down really quick when the Soros backed organizers realize they have sparked a wave of patriotism in places which had been very successful in bullying pride in the US into silence.
harveyorganblog.com 
