GOLD PRICE CLOSED DOWN $13.25 TO $2318.95
SILVER PRICE DOWN $0.63 TO $28.91
Gold ACCESS CLOSED $2318.75
Silver ACCESS CLOSED: $28.89
Bitcoin morning price:$61,488 DOWN UP 2109 DOLLARS.
Bitcoin: afternoon price: $62,105 DOWN 1492 dollars//
Platinum price closing DOWN $12.30 TO $985.80
Palladium price; DOWN $47.80 AT $943.00
END
SHANGHAI GOLD PREMIUM 45 DOLLARS/COMEX GOLD//JULY TO JULY
SHANGHAI GOLD (USD) FUTURES – QUOTES
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 25 Jun 2024 02:37:29 AM CT.
Market data is delayed by at least 10 minutes.
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $3167,30 DOWN 16.10 CDN dollars per oz( * NEW ALL TIME HIGH 3,305.30 CDN DOLLARS PER OZ//MAY 20 2024)
*BRITISH GOLD: 1827.75 DOWN 10.06 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2164.40 DOWN 7.30 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)
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END
EXCH: COMEX
EXCHANGE: COMEX
CONTRACT: JUNE 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,330.000000000 USD
INTENT DATE: 06/24/2024 DELIVERY DATE: 06/26/2024
FIRM ORG FIRM NAME ISSUED STOPPED
118 C MACQUARIE FUT 45
363 H WELLS FARGO SEC 11
657 C MORGAN STANLEY 47
726 C PLUS500US FINAN 3
737 C ADVANTAGE 29 3
880 H CITIGROUP 12
905 C ADM 6
991 H CME 26
TOTAL: 91 91
ACCESS MARKET
JPMorgan stopped 0/91
FOR JUNE 2024
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 91 NOTICES FOR 9100 OZ or 0.2830 TONNES
total notices so far: 30,438 contracts for 3,043,800 Oz (94.675 tonnes)
FOR JUNE:
SILVER NOTICES: 5 NOTICE(S) FILED FOR 25,000
OZ/
total number of notices filed so far this month :1336 for 6.680 million oz
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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 $13.25 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/
: HUGE CHANGES IN GOLD INVENTORY AT THE GLD/ A STRONG 2.88 TONNES/WITHDRAWAL
/ /INVENTORY RESTS AT 829.05TONNES
INVENTORY RESTS AT 829.05 TONNES
SLV//WHAT!!!!!!
WITH NO SILVER AROUND AND SILVER DOWN $0.63 AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A MAMMOTH DEPOSIT OF 7.855 MILLION OZ OF SILVER VAPOUR INTO THE SLV//
// INVENTORY INCREASES TO 440.69 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 440.69 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUMONGOUS SIZED 1626 CONTRACTS TO 173,099 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SURPRISING HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY LOSS OF $0.05 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING ON SILVER. WE HAD LITTLE LONG LIQUIDATION AS WE HAD A NET LOSS OF 818 CONTRACTS ON OUR TWO EXCHANGES. WE, AGAIN HAD MAJOR SHORT COVERING BY OUR SPECS WITH THE SMALL LOSS IN PRICE AS WELL AS MASSIVE T.A.S. LIQUIDATION WHICH ACCOUNTS FOR THE LOSS ON THE TWO EXCHANGES. WE HAD ANOTHER HUGE SIZED 818 T.A.S ISSUANCE,
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. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED TUESDAY JUNE 4 AND AGAIN ON FRIDAY, JUNE 7
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 959 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 NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.05) AND WERE SUCCESSFUL IN KNOCKING SOME SILVER LONGS FROM THEIR PERCH AS WE DID HAVE A HUGE SIZED LOSS OF 846 CONTRACTS ON OUR TWO EXCHANGES WITH THE LOSS IN PRICE OF $0.05.
WE MUST HAVE HAD:
A HUGED SIZED 780 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.830 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S NIL OZ QUEUE JUMP.
//NEW STANDING FOR SILVER//JUNE IS THUS 6.690 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 959 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 619 CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JUNE
TOTAL CONTRACTS for 16 DAYS, total 17,037 contracts: OR 85.185 MILLION OZ (1064 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 85.185 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: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RDHIGHEST EVER RECORDED FOR A MONTH)
MAY: 135.995 MILLION OZ //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
JUNE 85.185 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1626 CONTRACTS DESPITE OUR TINY LOSS IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 780 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 JUNE OF 3.830 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S NIL OZ QUEUE JUMP
//NEW TOTAL STANDING FOR JUNE 6.690 MILLION OZ
WE HAVE A HUGE SIZED LOSS OF 846 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE TINY LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 959 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND ZERO SOME LIQUIDATION OF LONGS.
THE NEW TAS ISSUANCE MONDAY NIGHT (959) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 5 NOTICE(S) FILED TODAY FOR 25,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 182 OI CONTRACTS TO 453,353 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: added 607 CONTRACTS
WE HAD A SMALL SIZED DECREASE IN COMEX OI (182 CONTRACTS) OCCURRED DESPITE OUR GAIN OF $14.30 IN PRICE/MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JUNE AT 89.94 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 6600 OZ QUEUE JUMP AS BANKERS SCOUR THE PLANET LOOKING FOR GOLD ON THE THIS SIDE OF THE POND
NEW STANDING 94.952 TONNES// ALL OF THIS HAPPENED WITH OUR $14.30 GAIN IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 1823 OI CONTRACTS (5.67 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2005 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 453,353
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1823 CONTRACTS WITH 182 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2005 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1216 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1674 CONTRACTS,,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2005 CONTRACTS) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI OF 182 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1823 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 JUNE AT 88.761 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 0.2053 TONNES
//NEW STANDING /JUNE 94.952 TONNES.
/ 3) HUGE T.A.S. LIQUIDATION OF CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) SMALL SIZED COMEX OPEN INTEREST LOSS 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1674 CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
JUNE
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE. :
TOTAL EFP CONTRACTS ISSUED: 48,751 CONTRACTS OR 4,875,100 OZ OR 151.64 TONNES IN 16 TRADING DAY(S) AND THUS AVERAGING: 3116 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16 TRADING DAY(S) IN TONNES 151.64 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 151.64 DIVIDED BY 3550 x 100% TONNES = 4.27% OF GLOBAL ANNUAL PRODUCTION
ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023
JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
FEB : 171.24 TONNES ( DEFINITELY SLOWING DOWN AGAIN)..
MARCH:. 276.50 TONNES (STRONG AGAIN/
APRIL: 189..44 TONNES ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)
MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)
JUNE: 247.54 TONNES (FINAL)
JULY: 188.73 TONNES FINAL
AUGUST: 217.89 TONNES FINAL ISSUANCE.
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
JAN ’24: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)
FEB’24: 201.947 TONNES
MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.
APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.
JUNE 151.64 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS
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 JUNE. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (APRIL), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUGE SIZED 1626 CONTRACTS OI TO 173,099 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 780 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 780 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1708 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1626 CONTRACTS AND ADD TO THE 780 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 846 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 4.23 MILLION OZ
OCCURRED DESPITE OUR TINY $0.05 LOSS IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 13.10 PTS OR 0.44% //Hang Seng CLOSED UP 45.19 PTS OR 0.25%// Nikkei CLOSED UP 368.50 OR 0.95%//Australia’s all ordinaries CLOSED UP 1.28%///Chinese yuan (ONSHORE) closed DOWN TO 7,2626 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2862/ Oil UP TO 81.15 dollars per barrel for WTI and BRENT DOWN AT 85.74 /Stocks in Europe OPENED ALL RED
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALL SIZED 182 CONTRACTS TO 452,746 DESPITE OUR STRONG GAIN IN PRICE OF $14.30 WITH RESPECT TO MONDAY’S TRADING. WE HAD A HUGE T.A.S. LIQUIDATION ON MONDAY’S STRONG GAIN WITH ZERO LONGS BEING CLIPPED AND MAJOR SHORT COVERING.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JUNE.… THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A FAIR SIZED 2005 EFP CONTRACTS WERE ISSUED: : AUGUST 2005 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2005 CONTRACTS.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1823 CONTRACTS IN THAT 2005 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A SMALL SIZED LOSS OF 182 COMEX CONTRACTS..AND THIS FAIR SIZED GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG GAIN IN PRICE OF $14.30/MONDAY COMEX
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR MONDAY NIGHT WAS A GOOD SIZED 1674 CONTRACTS. MOST OF THE TRADING AND SUPPLY OF CONTRACTS 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. THE USE OF T.A.S. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN FRIDAY’S RAID
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JUNE (94.952 TONNES)
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 42 MONTHS OF 2021-2024:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.9325
JUNE; 94.952 TONNES. THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $14.30 //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR SIZED GAIN OF 1823 CONTRACTS ON MONDAY ON OUR TWO EXCHANGES ACCOMPANYING THE STRONG GAIN IN PRICE. THE T.A.S. ISSUED ON FRIDAY 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 5.67 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JUNE (89.94 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 66 CONTRACTS OR 6600 OZ (0.2053 TONNES)
NEW STANDING FOR JUNE: 94.952 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $14.30
WE HAVE ADDED 607 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 1823 CONTRACTS OR 182,300 OZ (5.67 TONNES)
confirmed volume MONDAY 123,963 contracts//POOR
//speculators have left the gold arena
JUNE 25 JUNE GOLD CONTRACT
/ /// THE JUNE 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | NIL . |
| Deposit to the Dealer Inventory in oz | 0 oz |
| Deposits to the Customer Inventory, in oz | nilOZ |
| No of oz served (contracts) today | 91 notice(s) 9100 OZ 0.2830 TONNES |
| No of oz to be served (notices) | 89 contracts 8900 OZ 0.2768 TONNES |
| Total monthly oz gold served (contracts) so far this month | 30,438 notices 3,043,800 oz 94.675 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: NIL oz
we have 0 customer deposit:
customer withdrawals: 0
TOTAL WITHDRAWALS NIL
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JUNE
For the front month of JUNE we have an oi of 180 contracts having LOST 0 contracts. We had 66 contracts served on Monday so we gained 66 contracts or 6600 oz additional ounces will stand for gold at the comex as they underwent a queue jump to take delivery on this side of the pond.
JULY GAINED 23 CONTRACTS TO STAND AT 2480
AUGUST LOST 2599 CONTRACTS DOWN TO 362,012 CONTRACTS
We had 91 contracts filed for today representing 9100 oz
This is a major assault on the comex for gold and this time it is physical that will be requested.
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 91 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for June /2024. contract month, we take the total number of notices filed so far for the month (30,438) x 100 oz ) to which we add the difference between the open interest for the front month of JUNE (180 CONTRACTS) minus the number of notices served upon today (91 x 100 oz per contract( equals 3,052,700 OZ OR 94.952 TONNES.
thus the INITIAL standings for gold for the JUNE contract month: No of notices filed so far (30,438 x 100 oz +we add the difference for front month of June (180// , OI} minus the number of notices served upon today (91) x 100 oz which equals 3,052,700 oz (94.952 TONNES)
TOTAL COMEX GOLD STANDING FOR JUNE: 94.952 TONNES WHICH IS ABSOLUTELY HUGE FOR THIS VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. JUNE IS TRADITIONALLY THE 2ND HIGHEST DELIVERY MONTH OF THE YEAR. FROM THIS POINT WE WILL GAIN IN GOLD TONNAGE WILLING TO STAND AT THE COMEX
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 1,682,975.981 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,576,275 OZ
TOTAL REGISTERED GOLD 7,811,970( 242.985 tonnes). cme CORRECTED
TOTAL OF ALL ELIGIBLE GOLD: 9,724,307.266 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,128,995 oz (REG GOLD- PLEDGED GOLD)= 190.63 tonnes //this is the lowest net registered in quite some time.
END
SILVER/COMEX
JUN 25/2024
INITIAL
//2024// THE JUNE 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 809,168,019 oz CNT . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 592,,899.300 oz asahi |
| No of oz served today (contracts) | 5 CONTRACT(S) (25,000 OZ) |
| No of oz to be served (notices) | 2 contracts (0.010 million oz) |
| Total monthly oz silver served (contracts) | 1336 Contracts (6.680 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 customer deposits:
i) Into ASAHI 592,899.300 oz
total customer deposit 592,899.300oz
JPMorgan has a total silver weight: 127.832million oz/297.198million or 42.70%
adjustment: 0
Comex withdrawals: 1
i) Out of CNT 809,168.019 oz
total withdrawal: 809,168.019 0z
TOTAL REGISTERED SILVER: 69.293MILLION OZ//.TOTAL REG + ELIGIBLE. 297,195
million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE:
silver open interest data:
FRONT MONTH OF JUNE/2024 OI: 7 CONTRACTS HAVING LOST 13 CONTRACT(S).
WE HAD 13 NOTICES SERVED UP ON MONDAY, SO WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND AT THE COMEX VIA A NIL QUEUE JUMP
JULY SAW A LOSS OF 8200 CONTRACTS DOWN TO 43,213
AUG, SAW A GAIN OF 75 CONTRACTS TO 733
SEPT SAW A GAIN OF 6153 CONTRACTS TO 108,352
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 5 for 25,000 oz
CONFIRMED volume; ON MONDAY 80,020 HUGE
To calculate the number of silver ounces that will stand for delivery in JUNE we take the total number of notices filed for the month so far at 1336 x 5,000 oz = 6.680 MILLION oz
to which we add the difference between the open interest for the front month of JUNE ((7) and the number of notices served upon today 5 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the JUNE/2024 contract month: 1336 notices served so far) x 5000 oz + OI for the front month of JUNE (7)x number of notices served upon today minus (5)x 5000 oz of silver standing for the JUNE contract month equates to 6.690 MILLION OZ.
New total standing: 6.690 million oz.
There are 63.429 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.
Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon
END
GLD AND SLV INVENTORY LEVELS//
BOTH GLD AND SLV ARE MASSIVE FRAUDS!
JUNE 25 WITH GOLD DOWN $13.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 2.88 TONNES OF GOLD FROM THE GLD
INVENTORY RESTS AT 829.05 TONNES
JUNE 24 WITH GOLD UP$14.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 1.72 TONNES OF GOLD
/NEW TOTAL TONIGHT 831.93 TONNES
JUNE 21 WITH GOLD DOWN $37.40 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A MAMMOTH 8.34 TONNES OF GOLD VAPOUR DEPOSIT/NEW TOTAL TONIGHT 833.65 TONNES
JUNE 20 WITH GOLD UP $23.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES
JUNE 18 WITH GOLD UP $17.25 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES
JUNE 17 WITH GOLD DOWN $18.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.03 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 825.31 TONNES
JUNE 13 WITH GOLD DOWN$35.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.89 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 830.78 TONNES
JUNE 12 WITH GOLD UP $28.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.89 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 830.78 TONNES
JUNE 11 WITH GOLD DOWN $0.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/: / //NEW TOTAL TONIGHT 835.67 TONNES
JUNE 10 WITH GOLD UP $2,00 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD//: / //NEW TOTAL TONIGHT 835.67 TONNES
JUNE 7 WITH GOLD DOWN $64.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 3.56 TONNES OF GOLD INTO THE GLD//: / //NEW TOTAL TONIGHT 837.11 TONNES
JUNE 6 WITH GOLD UP $16.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 1.34 TONNES OF GOLD INTO THE GLD//: / //NEW TOTAL TONIGHT 833.55 TONNES
JUNE 5 WITH GOLD UP $32.75 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
JUNE 4 WITH GOLD DOWN $20.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
JUNE 3 WITH GOLD UP $22.85 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
MAY 31 WITH GOLD DOWN $19.40 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
MAY 30 WITH GOLD UP $3.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
MAY 29 WITH GOLD DOWN $13.55 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES
MAY 28 WITH GOLD UP $22.00 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD// //NEW TOTAL TONIGHT 832.21 TONNES
MAY 24 WITH GOLD DOWN $2.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.18 TONNES OF GOLD FROM THE GLD// //NEW TOTAL TONIGHT 833.36 TONNES
MAY 23 WITH GOLD DOWN $53.00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 22 WITH GOLD DOWN $32.10 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 21 WITH GOLD DOWN $12,00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 20 WITH GOLD UP $21.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.10 TONNES OF GOLD INTO THE GLD//NEW TOTAL 838.54 TONNES
MAY 17 WITH GOLD UP $31.70 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//NEW TOTAL 833.36 TONNES
MAY 16 WITH GOLD DOWN $7.90 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1.43 TONNES OF GOLD INTO THE GLD//NEW TOTAL 833.36 TONNES
MAY 15 WITH GOLD UP $34.90 ON THE DAY; SMALL CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF .600 TONNES OF GOLD INTO THE GLD/INVENTORY RISES TO 831.93 TONNES
MAY 14 WITH GOLD DOWN $17.10 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RISES TO 831.33 TONNES
GLD INVENTORY: 829.05 TONNES, TONIGHTS TOTAL
SILVER
JUNE 25. WITH SILVER DOWN $0.63//HUGE CHANGES IN SILVER INVENTORY: A MAMMOTH DEPOSIT OF 7.835 MILLION OZ OF SILVER VAPOUR INTO THE SLV.// /INVENTORY RISE TO 440.69 MILLION OZ.//WHAT AN ABSOLUTE FRAUD.
JUNE 24. WITH SILVER DOWN $0.05//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 2.104 MILLION OZ FROM THE SLV.// /INVENTORY LOWERS TO 432.835 MILLION OZ.
JUNE 21. WITH SILVER DOWN $1.15//NO CHANGES IN SILVER INVENTORY’// /INVENTORY REMAINS AT 434.935 MILLION OZ.
JUNE 20. WITH SILVER UP $1.17//HUGE CHANGES IN SILVER INVENTORY’ A DEPOSIT OF 5.164 MILLION OZ INTO THE SLV/// /INVENTORY RISES TO 434.929 MILLION OZ.
JUNE 18. WITH SILVER UP $0.21//NOCHANGES IN SILVER INVENTORY’ A WITHDRAWAL .730 MILLION OZ INTO THE SLV/// /INVENTORY FALLS TO 429.775 MILLION OZ.
JUNE 17. WITH SILVER UP $0.21//SMALL CHANGES IN SILVER INVENTORY’ A WITHDRAWAL .730 MILLION OZ INTO THE SLV/// /INVENTORY FALLS TO 429.775 MILLION OZ.
JUNE 14. WITH SILVER DOWN $0.10//NO CHANGES IN SILVER INVENTORY/ /INVENTORY REMAINS AT 429.083 TONNES
JUNE 13. WITH SILVER DOWN $1.10//HUGE CHANGES IN SILVER INVENTORY/ A HUGE DEPOSIT OF 1.958 MILLION OZ/INVENTORY RISES TO 429.083 TONNES
JUNE 12 WITH SILVER UP $0.97 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 5.983 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 427.125 MILLION OZ
JUNE 11 WITH SILVER DOWN $0.59 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 1.644 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 422.786 MILLION OZ
JUNE 10 WITH SILVER UP $0.30 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 3.198 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 421.142 MILLION OZ
JUNE 7 WITH SILVER DOWN $1.93 TODAY: NO CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 2.649 MILLION OZ INTO THE SLV// INVENTORY AT 417.944 MILLION OZ
JUNE 6 WITH SILVER UP $1.27 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 2.649 MILLION OZ INTO THE SLV// INVENTORY INCREASES TO 417.944 MILLION OZ
JUNE 5 WITH SILVER UP 0.38 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 1.52 MILLION OZ INTO THE SLV// INVENTORY INCREASES TO 415.295 MILLION OZ
JUNE 4 WITH SILVER DOWN $1.08 TODAY: NO CHANGES IN SILVER INVENTORY: //INVENTORY REMAINS AT 413.775 MILLION OZ
JUNE 3 WITH SILVER UP $0.35 TODAY: NO CHANGES IN SILVER INVENTORY: //INVENTORY REMAINS AT 413.775 MILLION OZ
MAY 31 WITH SILVER DOWN $1.09 TODAY: HUGE CHANGES IN SILVER INVENTORY: A MASSIVE WITHDRAWAL OF 3.655 MILLION OZ FROM THE SLV//INVENTORY LOWERS TO 413.775 MILLION OZ
MAY 30 WITH SILVER DOWN $0.80 TODAY: NO CHANGES IN SILVER INVENTORY//INVENTORY REMAINS AT 417.430 MILLION OZ
MAY 29 WITH SILVER UP $0.20 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A HUGE WITHDRAWAL OF 1.051 MILLION OZ INTO THE SLV//INVENTORY DECREASES TO 417.430 MILLION OZ
MAY 28 WITH SILVER UP $1.64 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A HUGE WITHDRAWAL OF 2.832 MILLION OZ INTO THE SLV//INVENTORY INCREASES TO 418.481 MILLION OZ
MAY 24 WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF .822 MILLION OZ INTO THE SLV//INVENTORY INCREASES TO 421.313 MILLION OZ
MAY 23 WITH SILVER DOWN $1.00 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 1.736 MILLION OZ FROM THE SLVINVENTORY INCREASES TO 420.491 MILLION OZ
MAY 22 WITH SILVER DOWN $0.66 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV// INVENTORY INCREASES TO 422.227 MILLION OZ
MAY 21 WITH SILVER DOWN $0.41 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/A DEPOSIT OF 3.792 MILLION OZ FROM THE SLV// INVENTORY INCREASES TO 422.227 MILLION OZ
MAY 20 WITH SILVER UP $1.28 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 1.005 MILLION OZ FROM THE SLV// INVENTORY LOWERS TO 418.435 MILLION OZ
MAY 17 WITH SILVER UP $1.37 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 868,000 OZ FROM THE SLV// INVENTORY LOWERS TO 419.440 MILLION OZ
MAY 16 WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/ INVENTORY REMAINS AT 420.308 MILLION OZ
MAY 15 WITH SILVER UP 101 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV;; A WITHDRAWAL OF 1.919 MILLION OZ FROM THE SLV NVENTORY RESTS AT 420.308 MILLION OZ
MAY 14 WITH SILVER UP 25 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV;;INVENTORY RESTS AT 422.227 MILLION OZ
CLOSING INVENTORY 434.935 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY
Central Banks’ Appetite For Gold Hasn’t Been Satisfied
TUESDAY, JUN 25, 2024 – 10:20 AM
Authored by Mike Maharrey via Money Metals,
Central banks have been gobbling up gold, and based on responses to the World Gold Council’s 2024 Central Bank Gold Reserves Survey, their appetites for the yellow metal aren’t going to be satisfied any time soon.
Last year, central banks added a net 1,037 tons of gold to their reserves, just slightly below the record of 1,082 tons in the previous year.
That pace of buying will likely continue.
Based on a World Gold Council survey that included 70 respondents, 29 percent of central banks plan to add more gold to their reserves in the next 12 months. The WGC said it was the highest level since the survey began in 2018.
Only 3 percent said they had plans to decrease gold reserves.
Eighty-one percent of the respondents said they expect overall global gold reserves to increase in the next 12 months. That was up from 71 percent in the 2023 survey.
Meanwhile, 69 percent of the central bankers surveyed said they think global gold reserves will be higher in five years. That was up from 62 percent in last year’s survey. In 2022, only 46 percent of the respondents thought gold reserves would be higher in five years.
The results would seem to indicate the panic and gold selloff that happened recently when China didn’t announce any change to its reserves for the first time in well over a year was probably overblown. Central banks aren’t about to stop increasing their gold reserves any time soon.
Why Gold?
Why do central banks hold gold in their reserves?
According to the World Gold Council, “[Gold] purchases are chiefly motivated by a desire to rebalance to a more preferred strategic level of gold holdings, domestic gold production, and financial market concerns including higher crisis risks and rising inflation.”
When asked about specific factors that influence overall reserve decisions, interest rate levels ranked first. Inflation concerns and geopolitical instability were the second and third biggest factors influencing reserve decisions.
A growing number of emerging market central bankers said they were concerned about shifts in global economic power. This likely reflects the growing de-dollarization trend and worries that the U.S. and other Western powers could use the dollar as a foreign policy weapon. In fact, 32 percent of the central bankers surveyed admitted that de-dollarization was a factor in their decisions to hold gold.
Central banks specifically hold gold for several reasons.
The number one reason is gold serves as a long-term store of value, and it creates a hedge against inflation.
Other key reasons given for holding gold were its performance during times of crisis, its role as a portfolio diversifier, and the fact that there is no default risk.
Emerging and developing market central banks view risks differently than those in developed markets. A higher proportion of EMDE central banks viewed the following factors as more relevant to their decision to hold gold:
- Concerns about systemic financial risks
- Lack of political risk
- Concerns about sanctions
- Anticipations of changes in the international monetary system
This likely reflects the ongoing shift of gold from the West to the East. Policymakers in the U.S. and Europe don’t seem to grasp the significance of this shift.
Mike Maharrey is a journalist and market analyst for MoneyMetals.com with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY
end
CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
Maguire, Macleod discuss monetary metals’ future on ‘Live from the Vault’
Submitted by admin on Sat, 2024-06-22 22:11 Section: Daily Dispatches
10:11p ET Saturday, June 22, 2024
Dear Friend of GATA and Gold (and Silver):
GoldMoney research director Alasdair Macleod is the guest on this week’s edition of Kinesis Money’s “Live from the Vault” program with London metals trader Andrew Maguire.
They discuss Russia’s defeat of Western economic sanctions, the world’s diminishing fear of the United States, the possibility of de-facto gold standards in Asia, the prospects for a gold-related BRICs currency, the heavy involvement of China and India with gold, whether silver will outperform gold, and bitcoin.
The discussion is an hour and 15 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
end
Bank information may be at risk in Russian attempt to blackmail Fed
Submitted by admin on Mon, 2024-06-24 21:57 Section: Daily Dispatches
From Money Metals News Service, Eagle, Idaho
Monday, June 24, 2024
A Russian hacking organization appears to be in the process of blackmailing the Federal Reserve.
On June 23 the criminal organization LockBit 3.0, a Russian ransomware cybercriminal group, publicly stated that it hacked the Federal Reserve and implied it would release more than “33 terabytes of juicy banking information containing details of Americans’ banking secrets” unless a large ransom is paid
More specifically, the cyber-terrorist organization says the Federal Reserve and the U.S. government have until this afternoon, June 24, at 4:27 p.m. ET to comply with its undisclosed monetary demands. …
… For the remainder of the report:
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Thanks, Julian Assange, for some truth about gold price suppression
Submitted by admin on Mon, 2024-06-24 21:29 Section: Daily Dispatches
9:44p ET Monday, June 24, 2024
Dear Friend of GATA and Gold:
Call us traitors if you want, but advocates of free and transparent markets in the monetary metals may be pleased by tonight’s reports that Wikileaks founder Julian Assange has a plea deal with the U.S. government that will convict him of a felony charge of conspiring to obtain and distribute classified information, sentence him to time served in the United Kingdom while resisting extradition, and allow him to return to his native Australia.
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Pam and Russ Martens: Fed and FDIC suddenly awaken to the threat of big banks’ derivatives
Submitted by admin on Mon, 2024-06-24 11:33 Section: Daily Dispatches
By Pam and Russ Martens
Wall Street on Parade
Monday, June 24, 2024
Since the financial crash of 2008 and the Federal Reserve’s multi-trillion-dollar bank bailouts that followed, the Office of the Comptroller of the Currency has been waving a giant red flag every quarter in its Bank Trading and Derivatives Activities reports.
For 16 years the OCC has been reporting that just four megabanks are responsible for more than 80% of the trillions of dollars in bank derivatives.
As the chart published with this report shows, as of December 31, 2023, Goldman Sachs Bank, JPMorgan Chase Bank, Citigroup’s Citibank, and Bank of America held a staggering total of $168.26 trillion in derivatives out of a total of $192.46 trillion at all U.S. banks, savings associations and trust companies.
That’s four banks holding 87% of all derivatives at all 4,587 federally-insured institutions in the U.S. that existed as of December 31, 2023.
Now it would appear that some market-savvy bank examiner embedded in one of those megabanks has had an epiphany and decided to ask the question: “How is it possible that all four of these megabanks with trillions of dollars in derivatives happened to be on the correct sides of these trades during the fastest and steepest interest rate increases in 40 years?”
Multiple bank counterparties to these trades should be reporting massive losses and yet all we hear are crickets. …
… For the remainder of the analysis:
* * *
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4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS/
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COPPER
END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
END
ASIA TRADING//TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 13.10 PTS OR 0.44% //Hang Seng CLOSED UP 45.19 PTS OR 0.25%// Nikkei CLOSED UP 368.50 OR 0.95%//Australia’s all ordinaries CLOSED UP 1.28%///Chinese yuan (ONSHORE) closed DOWN TO 7,2626 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2862/ Oil UP TO 81.15 dollars per barrel for WTI and BRENT DOWN AT 85.74 /Stocks in Europe OPENED ALL RED
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.2626
OFFSHORE YUAN: DOWN TO 7.2862
SHANGHAI CLOSED DOWN 13.10 PTS OR 0.44 %
HANG SENG CLOSED UP 45.19 PTS OR 0.25%
2. Nikkei closed UP 368.50 PTS OR 0.95 %
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 105.22 EURO FALLS TO 1.0717 UP 43 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +0.990 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 159.48 JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP 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 UP for WTI and UP 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 +2.3880/Italian 10 Yr bond yield DOWN to 3.907 SPAIN 10 YR BOND YIELD UP TO 3.295%
3i Greek 10 year bond yield DOWN TO 3.592
3j Gold at $2329.25//Silver at: 29.47 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 52/ 100 roubles/dollar; ROUBLE AT 87,60
3m oil into the 81 dollar handle for WTI and 85 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 159.48/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.990% 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 0.8936 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9573 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: 4.228 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.357 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.730 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.95…
10 YR UK BOND YIELD: 4.082 DOWN 2 PTS
2a New York OPENING REPORT
Futures Rise As Nvidia Rebound From 3-Day Rout
TUESDAY, JUN 25, 2024 – 08:17 AM
US index futures are higher, led by a rebound in the tech names in general and Nvidia in particular which rose as much as 3.5% in premarket trading after getting routed by a three-day, 13% selloff that wiped out $430 billion in market cap and saw it drop back into 3rd place behind Microsoft and Apple, after briefly becoming the world’s most valuable company last week. As of 8:00am ET, S&P futures are up 0.1% while Nasdaq futures gain 0.4%. European stocks are in the red, led lower by industrial names, while Asian equities gained, snapping a three-day losing streak, as advances in value stocks helped offset weakness in the tech sector. Bond yields reversed a modest rebound and have extended their Monday drop with 10Y TSYs trading at session lows of 4.21%, down 2bps, while the USD is at session highs. Commodities are mostly lower, particularly base metals and Ags. Overnight, the news flow was relatively quiet as investors are mostly digesting the tech correction. Today, we will receive Conf. Board Consumer Confidence data at 10am. On earnings, FDX will report after market close.
In premarket-trading, the Mag 7/Semiconductor space rebounded from yesterday’s selloff: NVDA +3.1%, MU +1.5%, AVGO +1.1%, AAPL +38bp, GOOG/L +27bp, AMZN +11bp. Spirit Aero dropped 4% after Bloomberg News reported that Boeing switched its proposed funding from an all-cash offer to a deal funded mostly by stock. Here are some other notable premarket movers:
- Birkenstock (BIRK) falls 3% after holder L. Catterton Management offered 14 million shares.
- Gap (GPS) advances 4% after TD Cowen upgraded the retailer to buy, saying the company is in the “early innings” of a transformation across all four of its brands.
- Pool Corp. (POOL) slides 11% after the distributor of swimming pool supplies slashed its earnings per share forecast for the full year, citing challenges in the discretionary parts of its business amid cautious consumer spending.
- SolarEdge Technologies (SEDG) tumbles 17% after the solar equipment maker said a customer filed for bankrupcy and the company may fail to collect the $11.4 million it is owed.
- Trump Media & Technology (DJT) climbs 8%, putting the stock on track for three straight sessions of gains.
Tech shares have been the focus of US markets this week with traders rebalancing their portfolios as the quarter draws to a close. They’ve been taking profits from the AI-driven frenzy for tech stocks and switched into value shares and other laggards. The retreat in technology shares was “purely an investor/sentiment story,” Danske Bank analysts wrote in a note. “The fundamentals remain unchanged from a week ago.”
Meanwhile, there are signs that calm is returning to French markets, with yield spreads over Germany retreating from the highest level in over a decade. Jordan Bardella, the leader of the National Rally party which is leading the polls, sought to reassure investors on Monday with assurances that he will not upend the country’s finances if his party wins an absolute majority.
Later, the US Treasury kicks off this week’s trio of bond sales with an offering of $69 billion in two-year notes. Demand for the shorter, rates-sensitive debt is expected to be stronger than at last month’s offering, coming ahead of statistics on Friday that are forecast to show a slowdown in the Fed’s favored inflation gauge.
Stocks in Europe retreated 0.3% led by weakness in materials, utilities and communications sectors; markets were weighed by a drop of more than 10% for planemaker Airbus SE, which lowered its guidance amid persistent supply-chain issues. Germany’s Merck KGaA also tumbled, following a second surprise failure of a promising medicine. Here are the most notable European movers:
- Neoen shares gain as much as 2.8% after announcing the signing of an agreement for the purchase by Brookfield of a majority stake in the renewable energy developer from Impala and other shareholders.
- Evotec shares rise as much as 3.7% as the German pharmaceutical company announced a new US Department of Defense contract for its Seattle-based subsidiary Evotec Biologics.
- Hornbach shares climb as much as 5% as a strong improvement in first-quarter earnings overshadows cautious full-year guidance from the German building materials retailer.
- Fagerhult shares gain as much as 3.2% following an initiation at buy on the lighting systems manufacturer by SEB Equities, which expects an acceleration in both growth and margins.
- Airbus shares slump as much as 9.8%, the most since Nov. 2021, after lowering both its earnings and aircraft-delivery targets, citing supply-chain issues. Deutsche Bank cuts its rating to hold.
- Merck KGaA shares drop as much as 11% after the German pharmaceutical and chemicals company discontinued late-stage trials of xevinapant in locally advanced head and neck cancer.
- Continental shares fall as much as 1.1% after analysts at Warburg Research cut the German auto supplier’s price target to €75 from €92 on a weaker-than-expected market environment.
- Fluidra shares drop as much as 7.7%. The Spanish swimming pool maker falls after after equipment distributor Pool Corp. issued a profit warning.
- Ocado shares drops as much as 4% after Morgan Stanley slashes its PT to a new Street-low of 215p, with further downside expected following the latest customer fulfillment center postponement.
- Meyer Burger shares jump as much as 27% after the Swiss solar panel maker announced it made progress regarding business relocation to the US and external financing.
- Trigano shares decline as much as 4.6% as analysts become more cautious on the motorhome maker’s prospects in FY25 due to headwinds including lower prices and excess inventory levels.
- Fincantieri shares dropped back on Milan stock exchange in early Tuesday trading, giving up some of Monday’s gains after the Italian shipbuilder launched a €400 million capital increase.
Earlier, Asian markets rebounded as advances in some value stocks helped offset weakness in the tech sector. The MSCI Asia Pacific Index rose as much as 1%, led by consumer discretionary and industrial shares. Japan and Australia were the biggest gainers in the region, while a gauge of Chinese stocks listed in Hong Kong climbed as traders moved away from semiconductors into other parts of the market. Chip-related shares extended their recent rout after Nvidia entered a technical correction amid a pause in the AI frenzy. Meanwhile, some of the biggest boosts to the Asian gauge Tuesday included auto, financial and miner stocks.
- Hang Seng and Shanghai Comp. were mixed in which the Hong Kong benchmark advanced as strength in consumer and property stocks atoned for the slack seen in some tech names, while the mainland lagged despite the PBoC’s liquidity boost with headwinds from US-China frictions as the Biden administration probes Chinese telcos. Furthermore, Premier Li flagged weak global economic momentum during his WEF address in Dalian.
- Nikkei 225 shrugged off the initial indecision and gradually reverted to above the psychological 39,000 level.
- ASX 200 outperformed with energy and real estate leading the advances amid broad optimism across sectors.
In FX, the Bloomberg Dollar Index gained 0.1%, reversing an earlier loss, with minimal moves across G-10 FX. USD/JPY was down 0.2% to 159.33 and AUD/USD little changed at 0.6659. GBP/USD rises 0.1% to 1.2695 with EUR/USD up 0.1% to 1.0740.
In rates, treasuries reverse earlier losses, with 2-year yields flat at 4.72% while 10-year yields dropped 2bps to 4.21% and 30-year yields were little changed at 4.365% as long-end outperformance deepens inversion of 2s10s spread past 50bp for first time since December. In core European rates, bunds and gilts outperform despite heavy auction slate that included Italy, UK and Germany selling a mix of linkers and bonds. French government bonds gain, outperforming their German peers and narrowing the 10-year yield spread by ~1bps to around 75.5bps. The US auction cycle begins with $69 billion 2-year note sale, followed by $70 billion 5-year and $44 billion 7-year Wednesday and Thursday. WI 2-year yield at around 4.680% is ~24bp richer than May’s, which tailed by 1bp.
In commodities, oil prices decline, with WTI falling 0.5% to near $81.30. Spot gold falls ~$2 to around $2,333. Bitcoin rises over 2%.
Looking at today’s calendar, US economic data slate includes June Philadelphia Fed non-manufacturing activity and May Chicago Fed national activity index (8:30am), April S&P CoreLogic home prices (9am), June consumer confidence and Richmond Fed manufacturing index (10am) and June Dallas Fed services activity (10:30am). Fed officials scheduled to speak include Cook (12pm) and Bowman (2:10pm); speaking earlier Tuesday, Bowman reiterated her view that it’s too soon to cut interest rates
Market Snapshot
- S&P 500 futures up 0.1% to 5,523.00
- STOXX Europe 600 down 0.3% to 517.26
- MXAP up 0.9% to 180.55
- MXAPJ up 0.4% to 567.20
- Nikkei up 0.9% to 39,173.15
- Topix up 1.7% to 2,787.37
- Hang Seng Index up 0.3% to 18,072.90
- Shanghai Composite down 0.4% to 2,950.00
- Sensex up 0.8% to 77,959.91
- Australia S&P/ASX 200 up 1.4% to 7,838.79
- Kospi up 0.3% to 2,774.39
- German 10Y yield little changed at 2.41%
- Euro little changed at $1.0733
- Brent Futures little changed at $85.96/bbl
- Gold spot down 0.4% to $2,326.28
- US Dollar Index little changed at 105.47
Top Overnight News
- BOJ could be setting the stage for a “hawkish double surprise” next month with a tapering of QE coupled with a rate hike. RTRS
- Chinese telecom firms (China Mobile, China Telecom, China Unicom) face scrutiny in Washington over their access to American internet data. RTRS
- In November last year, President Biden and Chinese leader Xi Jinping agreed to boost engagement between ordinary Chinese and Americans, part of an effort to repair fraying ties ahead of a tense election year in the U.S. Instead, says Nicholas Burns, Washington’s ambassador in Beijing, China has actively undermined those ties, interrogating and intimidating citizens who attend U.S.-organized events in China, ramping up restrictions on the embassy’s social-media posts and whipping up anti-American sentiment. WSJ
- Trump considering a plan whereby the US would threaten to withhold further aid to Ukraine unless it entered into peace talks w/Russia. RTRS
- Israel’s top court told the government to begin drafting Ultra-Orthodox men for army service and stop funding seminaries whose students avoid conscription. It adds to pressure on PM Benjamin Netanyahu, whose coalition is supported by religious parties that oppose any change. BBG
- Julian Assange has left the UK after striking a plea deal with US prosecutors to end the WikiLeaks founder’s legal saga over leaked documents and allow him to walk free after years of incarceration and confinement. FT
- Brussels has accused Microsoft of anti-competitive behaviour by bundling its Teams app with its Office suite, in the first such antitrust charges brought against the tech group in more than a decade. FT
- Novo Nordisk A/S plans to invest $4.1 billion in another US factory, plowing more money into its biggest market amid rising discontent over the cost of its obesity and diabetes drugs. The project in Clayton, North Carolina, will double the company’s production footprint in the US, adding 1.4 million square feet of space for the final stages of manufacturing in which Novo’s medicines are filled into injector pens and prepared for consumers. BBG
- Boeing offered to buy Spirit AeroSystems in a mostly-stock deal that values the supplier at about $35 per share, people familiar said. The change from an all-cash bid should ease some of the squeeze on the cash-strapped planemaker. BBG
- Federal judges in Kansas and Missouri blocked parts of President Biden’s student debt relief plan, while the White House later said that it strongly disagreed with the ruling on Biden’s student loan plan,: Reuters.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly positive but with some of the gains capped following the mixed lead from Wall St where tech underperformed amid Nvidia’s continued retreat from last week’s record high into correction territory. ASX 200 outperformed with energy and real estate leading the advances amid broad optimism across sectors. Nikkei 225 shrugged off the initial indecision and gradually reverted to above the psychological 39,000 level. Hang Seng and Shanghai Comp. were mixed in which the Hong Kong benchmark advanced as strength in consumer and property stocks atoned for the slack seen in some tech names, while the mainland lagged despite the PBoC’s liquidity boost with headwinds from US-China frictions as the Biden administration probes Chinese telcos. Furthermore, Premier Li flagged weak global economic momentum during his WEF address in Dalian.
Top Asian News
- Chinese Premier Li called for facing up to the difficulty of global economic growth and said that weak global economic growth momentum was hit by Covid, high inflation and increasing debt, while he added that economic growth is becoming more difficult to achieve and noted that decoupling and protectionism will only raise economic costs for the world. Furthermore, he said they should seize the new opportunities of the tech revolution and industrial transformation and they are confident and capable of achieving the full-year growth target of around 5%, as well as noted that the Chinese economy is expected to continue to show steady improvement in Q2.
- US President Biden’s administration is investigating China Telecom (728 HK), China Mobile (941 HK) and China Unicom (762 HK) with the probe focused on potential national security risks from their US cloud and internet infrastructure, according to Reuters sources
- Japan is to revise January-March GDP to reflect corrected data on construction orders from the Land Ministry with the revised figure to be released on July 1st 00:50BST, according to the Cabinet Office.
- Japanese Finance Minister Suzuki says shared serious concerns over weakness of JPY and KRW with the South Korean Finance Minister. Will continue to respond appropriately to excessive FX moves; desirable for FX to move stably.
European bourses, Stoxx 600 (-0.3%) are almost entirely in the red, with sentiment hit following updates from Airbus (-9.8%) and Merck (-9.7%) (detailed in Notable European Headlines). European sectors are mixed; Industrials are the clear laggard after Airbus cut its 2024 delivery guidance, which has weighed on the entire sector. Tech is also towards the foot of the pile, with ASML (-2.2%) and ASM International (-2.1%) both suffering. US Equity Futures (ES +0.1%, NQ +0.3%, RTY +0.2%) are very modestly firmer, with mild outperformance in the NQ as Nvidia (+2.1% pre-market) finally edges higher after dropping around 11% over the past 5 days.
Top European News
- Airbus (AIR FP) cuts 2024 delivery guidance: now targeting around 770 (prev. 800) commercial aircraft deliveries in 2024, the production rate of 75 A320 family aircraft a month is maintained but now expected to be reached in 2027 (prev. 2026); Targets adj. EBIT of around EUR 5.5bln in 2024 (prev. 6.5-7bln). Targets FCF of EUR 3.5bln (prev. 4bln) before customer financing. To record charges of around EUR 900mln in H1’24 accounts. Facing persistent specific supply chain issues mainly in engines, aerostructures, and cabin equipment. Elsewhere, reportedly has a backlog of several undelivered wide-bodied airliners without engines parked outside its Toulouse factory; jets are reportedly waiting for seats, engines and other parts, according to Reuters citing sources. CEO says Spirit AeroSystems (SPR) situation is difficult from an industrial standpoint. Says uncertain outlook for Spirit commitments contributed to the decision to cut Airbus output targets. Supply chain is improving but not in a uniform place. (Newswires/Reuters) Shares – 9.8% in European trade
- Merck (MRK GY) ceased the Phase III TrilynX study for xevinapant in unresected locally advanced squamous cell carcinoma of the head and neck due to unlikely efficacy in extending event-free survival, despite compatible safety data. Merck KHaA will review findings for publication. Shares – 9.9% in European trade
FX
- DXY has been pivoting around the 105.50 mark after yesterday’s selling brought it down from a 105.90 high. It can be noted that month-end models point towards USD selling vs. peers. Docket ahead includes Philly Fed Nonmanufacturing Business Outlook Survey, Richmond Fed Index and speak from Fed’s Bowman and Cook.
- EUR is steady vs. the USD in quiet newsflow. Focus remains on French political risk, however, broader follow-through into the EUR is contained. For now, EUR/USD sits towards the top end of yesterday’s 1.0683-1.0746 range.
- GBP a touch firmer vs. both USD and EUR in quiet newsflow with a lack of tier 1 highlights due this week and the BoE observing its quiet period ahead of next month’s UK general election. Cable remains capped by resistance at 1.27. If breached, the 10DMA sits just above at 1.2704 with the 20th June high at 1.2724.
- JPY is edging mild gains vs. the USD after topping out yesterday at 159.93. Commentary from Finance Minister Suzuki continued to attempt to talk up the JPY, but sparked little move in the pair. Currently USD/JPY holds around 159.50 with a notable OpEx at 160.00.
- Antipodeans are mixed vs. the USD with AUD the marginal outperformer across the majors. Newsflow for AUD has been light, however, AUD/USD has been able to build on the prior day’s gains. NZD/USD is currently tucked within yesterday’s 0.6104-40 range.
- PBoC set USD/CNY mid-point at 7.1225 vs exp. 7.2587 (prev. 7.1201).
Fixed Income
- USTs are rangebound and essentially unchanged ahead of survey data, June’s Consumer Confidence and then the beginning of the week’s supply docket with a USD 69bln 2yr sale. USTs currently sits around 110-18.
- Bunds are contained with specific macro drivers sparse thus far though Bunds are at the lower-end of 132.42-65 parameters (132.47 is a 50% Fib of Monday’s move).
- Gilt price action is in-fitting with peers with the docket once again sparse as we count down to the upcoming election. Holding in a very slim 14 tick range which is entirely within Monday’s 98.38-98.76 bounds.
- UK sells GBP 1.5bln 0.75% 2033 I/L Gilt: b/c 2.89x (prev. 3.4x) and real yield 0.518% (prev. 0.440%)
- Italy sells EUR 2.5bln vs exp. EUR 2-2.5bln 3.20% 2026 Short Term BTP and EUR 2.25bln vs exp. EUR 1.25-2.25bln 0.40% 2030 & 2.40% 2039 BTPei
- Germany sells EUR 3.646bln vs exp. EUR 4.5bln 2.90% 2026 Schatz: b/c 2.4x (prev. 2.7x) & avg. yield 2.8% (prev. 3.01%) and retention 18.98%% (prev. 18.02%)
Commodities
- Crude is modestly softer on the session, having traded within a contained range for the majority of the European morning. Brent is holding just above USD 85.60/bbl.
- Precious metals are mixed, having spent much of the morning pressured; thereafter, spot gold climbed into the green, benefiting from the downbeat Dollar; the yellow metal currently sits above USD 2330/oz.
- Base metals are incrementally firmer, tracking US equity futures and the overall positive handover from the APAC session irrespective of downbeat European price action.
Geopolitics: Middle East
- Israeli media reported news about the killing of the sister of the head of Hamas’ political bureau, Ismail Haniyeh, in an Israeli bombardment that targeted the beach camp west of Gaza which killed 13 people, according to Sky News Arabia.
- US Secretary of State Blinken emphasised to Israel’s Defence Minister Gallant the need to take additional steps to protect humanitarian workers in Gaza and deliver assistance in coordination with the UN, while Blinken underscored the importance of avoiding escalation and reaching a diplomatic resolution that allows both Israeli and Lebanese families to return home, according to the State Department.
- There were initial rumours on social media that something of note occurred in the Black Sea and that a US drone had been shot down although there was no confirmation, according to Faytuks News via social media platform X. However, social media reports later noted that a US defence official said no incident involving a US surveillance drone occurred today over the Black Sea, despite claims earlier by several Russian sources
Geopolitics: Other
- Ukraine will start EU accession talks on Tuesday and will meet with EU ministers in Luxembourg to officially begin a process that is set to take years but which represents a symbolic moment, according to FT.
- Russian President Putin said in a message to North Korean leader Kim that his recent visit to North Korea raised ties to an unprecedentedly high level of partnership, while he added that Kim is an honoured guest Russia waits for, according to KCNA.
- South Korean President Yoon criticised North Korea’s balloon sending and vowed a strong response to North Korean provocation, according to Yonhap.
US Event Calendar
- 08:30: June Philadelphia Fed Non-Manufactu, prior -0.6
- 08:30: May Chicago Fed Nat Activity Index, est. -0.25, prior -0.23
- 09:00: April S&P CS Composite-20 YoY, est. 7.00%, prior 7.38%
- April S&P/CS 20 City MoM SA, est. 0.30%, prior 0.33%
- April FHFA House Price Index MoM, est. 0.3%, prior 0.1%
- 10:00: June Conf. Board Consumer Confidenc, est. 100.0, prior 102.0
- June Conf. Board Present Situation, prior 143.1
- June Conf. Board Expectations, prior 74.6
- 10:00: June Richmond Fed Index, est. -3, prior 0
- 10:30: June Dallas Fed Services Activity, prior -12.1
Fed Speakers
- 07:00: Fed’s Bowman Speaks on Monetary Policy, Bank Capital Reform
- 12:00: Fed’s Lisa Cook Speaks on Economic Outlook
- 14:10: Fed’s Bowman Gives Recorded Opening Remarks
DB’s Jim Reid concludes the overnight wrap
Nvidia has been driving markets again over the last 24 hours, as its share price came down another -6.68%, building on its -4.03% decline over the previous week and -16.1% from the intra-day high on Thursday. In turn, that held down US equity returns more broadly, as the losses for Nvidia pushed the NASDAQ (-1.09%) and the S&P 500 (-0.31%) into negative territory for the day. This decline came even as 70% of the S&P 500 constituents were higher yesterday, with the equal-weighted version of the index up +0.50%. Energy stocks (+2.73%) led on the upside, boosted by rising oil prices as Brent crude reached its highest level since April (+0.90% to $86.01/bbl).
The positive tone was more dominant in Europe, where markets continued to strengthen despite the political uncertainty as we head to the weekend French polls. For instance, the CAC 40 (+1.03%) closed at its highest level since the turmoil began, having advanced by +2.71% since its closing low on June 14. Banks were among the strongest performers, including BNP Paribas (+3.27%), Société Générale (+2.06%) and Crédit Agricole (+2.00%). And this strength was echoed among other indices across the continent, with the STOXX 600 (+0.73%), the DAX (+0.89%) and the FTSE MIB (+1.58%) all posting solid gains.
That European advance came despite another batch of weak data, as Germany’s Ifo survey for June came out. That saw the business climate indicator unexpectedly fall to 88.6 (vs. 89.6 expected), which is the second month in a row that it’s declined. Moreover, the e xpectations indicator fell back after a run of 4 consecutive monthly gains, with the measure falling to 89.0 (vs. 90.7 expected). And that follows some underwhelming flash PMI releases on Friday, where both the Euro Area and German numbers surprised on the downside.
When it comes to the politics, that will really ramp up this week, with financial markets keenly focused on the first round of the French election this Sunday. Ahead of that, an Ifop poll showed that Marine Le Pen’s National Rally was on 36%, ahead of the left-wing alliance on 29.5%, and President Macron’s centrist alliance on 20.5%. In seat terms, that would give the National Rally 220-260, short of the 289 required to win a majority in the National Assembly. The left-wing alliance would be on 185-215, and President Macron’s alliance would be on 70-100. A reminder of our joint econ/strategy webinar tomorrow at 3pm London time on the election and the market implications. Register here. Elsewhere, there are just 9 days to go until the UK’s election, and a Redfield and Wilton poll out yesterday had the opposition Labour Party in the lead on 42%, followed by Nigel Farage’s Reform UK on 19%, and the governing Conservatives on 18%.
Back to France, and the Franco-German 10yr spread tightened by -3.2bps to 77bps and away from Friday’s close which was the highest spread since 2012. That came as Jordan Bardella of the National Rally said that he would seek to repair France’s “degraded public finances”, and would “bring the country back to reasonable budgets”. Other countries’ spreads also tightened, as the 10yr bund yield rose by +1.0bps, underperforming the rest of Europe.
Meanwhile in the US, a late rally saw the 10yr Treasury yield close -2.4bps lower on the day at 4.23% where it’s stayed in Asia this morning. The rally was helped along by dovish-leaning comments from San Francisco Fed President Daly, who said that “ Future labor market slowing could translate into higher unemployment ”, adding “At this point, inflation is not the only risk we face”.
Asian equity markets are mostly trading higher this morning shrugging off the US tech weakness. The Nikkei (+0.51%), Hang Seng (+0.33%), KOSPI (+0.49%) and the S&P/ASX 200 (+0.94%) are all advancing. Elsewhere, Chinese stocks are extending recent losses with the CSI (-0.42%) and the Shanghai Composite (-0.38%) lower. S&P 500 (+0.08%) and NASDAQ 100 (+0.19%) futures are bouncing back slightly as I type.
Early morning data showed that Japan’s services producer price index climbed +2.5% y/y in May and less than the market expected gain of +3.0% as against a downwardly revised increase of +2.7% in April. The yen (+0.08%) has edged higher for a second day but at 159.51 against the dollar, it is still languishing near levels not seen since late April when the Japanese authorities intervened in the FX market. More broadly it remains very close to its 30 plus year lows.
To the day ahead now, and data releases from the US include the Conference Board’s consumer confidence measure for June, the Richmond Fed’s manufacturing index for June, and the FHFA house price index for April. We’ll also get Canada’s CPI for May. From central banks, we’ll hear from the ECB’s Stournaras, Makhlouf and Nagel, along with the Fed’s Bowman and Cook.
2B EUROPE OPENING/TRADING
Tech continues to lag with Nvidia closing lower, European futures softer – Newsquawk Europe Market Open
TUESDAY, JUN 25, 2024 – 01:23 AM
- APAC stocks were mostly positive but with some of the gains capped following the tech underperformance on Wall Street.
- Nvidia (-6.5%) suffered a third consecutive day of losses and was down 13% from its peak last week.
- European equity futures indicate a weaker open with Euro Stoxx 50 future -0.3% after the cash market closed higher by 0.9% on Monday.
- DXY is lacklustre with FX markets broadly contained, USD/JPY remains sub-160.
- Looking ahead, highlights include US Philly Fed Non-manufacturing Business Outlook Survey, US Richmond Fed Index, Canadian CPI, Comments from Fed’s Cook & Bowman, Supply from UK, Italy, Germany & US.
More Newsquawk in 3 steps:
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US TRADE
EQUITIES
- US stocks finished mixed with clear divergence seen among the indices as the DJIA outperformed and the tech-heavy Nasdaq notably lagged amid headwinds from AI-darling Nvidia (NVDA)(-6.5%) which suffered a third consecutive day of losses and was down 13% from its peak last week after a brief stint as the most valuable company.
- SPX -0.31% at 5,448, NDX -1.15% at 19,475, DJI +0.67% at 39,411, RUT +0.43% at 2,031.
- Click here for a detailed summary.
NOTABLE HEADLINES
- Fed’s Daly (2024 voter) said the Fed has made a lot of progress on inflation but there is still work to do and inflation is not the only risk although they are nearer to a point where a benign outcome on the labour market could be less likely. Daly said at this point the risks to inflation and employment mandate are in better balance and must be thoughtful about not loosening too early, or holding too long. Furthermore, she said pre-emptive cutting is something you do when you see risks, but right now the labour market is good.
- Fed reportedly floats a weaker version of the bank-capital overhaul, according to Bloomberg citing sources.
- Federal judges in Kansas and Missouri blocked parts of President Biden’s student debt relief plan, while the White House later said that it strongly disagreed with the ruling on Biden’s student loan plan, according to Reuters.
APAC TRADE
EQUITIES
- APAC stocks were mostly positive but with some of the gains capped following the mixed lead from Wall St where tech underperformed amid Nvidia’s continued retreat from last week’s record high into correction territory.
- ASX 200 outperformed with energy and real estate leading the advances amid broad optimism across sectors.
- Nikkei 225 shrugged off the initial indecision and gradually reverted to above the psychological 39,000 level.
- Hang Seng and Shanghai Comp. were mixed in which the Hong Kong benchmark advanced as strength in consumer and property stocks atoned for the slack seen in some tech names, while the mainland lagged despite the PBoC’s liquidity boost with headwinds from US-China frictions as the Biden administration probes Chinese telcos. Furthermore, Premier Li flagged weak global economic momentum during his WEF address in Dalian.
- US equity futures eked slight gains albeit with price action contained amid quiet catalysts.
- European equity futures indicate a weaker open with Euro Stoxx 50 future -0.3% after the cash market closed higher by 0.9% on Monday.
FX
- DXY was lacklustre after yesterday’s selling pressure heading into month and quarter-end with Citi’s preliminary estimate of month-end FX hedge rebalancing needs pointing to a net USD selling against all major currencies, while Barclays’ model also shows strong dollar selling.
- EUR/USD traded flat and held on to its recent spoils as political uncertainty took a back seat.
- GBP/USD took a breather after recent advances and lingered beneath 1.2700 where it previously hit resistance.
- USD/JPY softened but was off the lows seen during Monday’s session where a brief slide beneath 159.00 spurred intervention murmurs.
- Antipodeans conformed to the non-committal mood in the FX space amid a light calendar with no tier-1 data.
- PBoC set USD/CNY mid-point at 7.1225 vs exp. 7.2587 (prev. 7.1201).
- BoC Governor Macklem continues to think they don’t need a large climb in the jobless rate to get inflation back to target.
FIXED INCOME
- 10-year UST futures proceeded sideways overnight but did see a mild uptick around the time of the New York closing bell as rumours circulated regarding a US drone being shot down in the Black Sea which was later refuted by a US defence official.
- Bund futures remained afloat after yesterday’s intraday rebound and ahead of a German 2-year auction.
- 10-year JGB futures were subdued despite softer Services PPI data and following mostly weaker results from the 20-year JGB auction.
COMMODITIES
- Crude futures took a breather after gaining yesterday on a softer dollar and the ongoing geopolitical backdrop.
- Spot gold marginally softened amid a lack of major catalysts and ahead of key inflation metrics later this week.
- Copper futures traded quietly and failed to meaningfully benefit from the mostly positive risk appetite.
CRYPTO
- Bitcoin found some reprieve overnight and tested the USD 61,500 level to the upside after rebounding from a brief dip beneath USD 59,000.
NOTABLE ASIA-PAC HEADLINES
- Chinese Premier Li called for facing up to the difficulty of global economic growth and said that weak global economic growth momentum was hit by Covid, high inflation and increasing debt, while he added that economic growth is becoming more difficult to achieve and noted that decoupling and protectionism will only raise economic costs for the world. Furthermore, he said they should seize the new opportunities of the tech revolution and industrial transformation and they are confident and capable of achieving the full-year growth target of around 5%, as well as noted that the Chinese economy is expected to continue to show steady improvement in Q2.
- US President Biden’s administration is investigating China Telecom (728 HK), China Mobile (941 HK) and China Unicom (762 HK) with the probe focused on potential national security risks from their US cloud and internet infrastructure, according to Reuters sources
- Japan is to revise January-March GDP to reflect corrected data on construction orders from the Land Ministry with the revised figure to be released on July 1st 00:50BST, according to the Cabinet Office.
DATA RECAP
- Japanese Services PPI (May) 2.50% vs. Exp. 3.00% (Prev. 2.80%)
- Australian Consumer Sentiment MM (Jun) 1.7% (Prev. -0.3%)
- Australian Westpac Consumer Confidence Index (Jun) 83.6 (Prev. 82.2)
GEOPOLITICAL
MIDDLE EAST
- Israeli PM Netanyahu said Iran is working on multiple fronts to destroy Israel but added they will thwart Iran’s intentions to destroy them at any cost and in any way, according to Iran International.
- Israeli media reported news about the killing of the sister of the head of Hamas’ political bureau, Ismail Haniyeh, in an Israeli bombardment that targeted the beach camp west of Gaza which killed 13 people, according to Sky News Arabia.
- US State Department said Israel told them that they are getting close to an end to major combat operations in Rafah, while there is no agreement on the future of Gaza and the US continues to oppose reoccupation without end.
- US Secretary of State Blinken emphasised to Israel’s Defence Minister Gallant the need to take additional steps to protect humanitarian workers in Gaza and deliver assistance in coordination with the UN, while Blinken underscored the importance of avoiding escalation and reaching a diplomatic resolution that allows both Israeli and Lebanese families to return home, according to the State Department.
- There were initial rumours on social media that something of note occurred in the Black Sea and that a US drone had been shot down although there was no confirmation, according to Faytuks News via social media platform X. However, social media reports later noted that a US defence official said no incident involving a US surveillance drone occurred today over the Black Sea, despite claims earlier by several Russian sources
OTHER
- Ukraine will start EU accession talks on Tuesday and will meet with EU ministers in Luxembourg to officially begin a process that is set to take years but which represents a symbolic moment, according to FT.
- Russian President Putin said in a message to North Korean leader Kim that his recent visit to North Korea raised ties to an unprecedentedly high level of partnership, while he added that Kim is an honoured guest Russia waits for, according to KCNA.
- South Korean President Yoon criticised North Korea’s balloon sending and vowed a strong response to North Korean provocation, according to Yonhap.
EU/UK
NOTABLE HEADLINES
- Harris Interactive Poll showed far-right National Rally (RN) party in the lead with 33% of votes in the first round of the French parliament election and left-wing New Popular Front (NFP) seen in 2nd with 27% of votes, while President Macron’s centrist camp is seen in 3rd with 20% of votes.
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
3 CHINA
CHINA/EU
Relations between China and the west sour!!
(zerohedge)
China Premier Snubs German Vice Chancellor, As Beijing Agrees To Talk With Europe Over EV Tariffs
TUESDAY, JUN 25, 2024 – 04:15 AM
After several weeks of escalating tit-for-tat trade war salvos between China and Europe, threatening to scuttle billions in auto trade between the two blocs, over the weekend China agreed to enter talks with the EU over its decision to impose higher tariffs on imports of Chinese electric vehicles during a visit to Beijing by Germany’s vice-chancellor, which was aimed at soothing tensions.
Robert Habeck, Germany’s minister for economic affairs and climate action, the same minister who was crucified by Deutsche Boerse CEO Theodor Weimer in his recent rant, welcomed the move by China to enter discussions with Brussels on EU tariffs but said it was “a first step and many more will be necessary”.
His comments came after China’s ministry of commerce said Beijing and Brussels had agreed to launch consultations on an anti-subsidy investigation launched by the EU last year. The probe led to a decision this month to increase tariffs on Chinese EVs to as high as 48%, which in turn provoked China’s anger and threats to retaliate in kind on Europe’s internal combustion cars. The announcement followed a video conference between China’s minister of commerce Wang Wentao and EU executive vice-president and trade commissioner Valdis Dombrovskis.
As previously reported, Germany – whose economy has been in peril for the past 2 years caught by the double whammy of soaring energy prices and shrinking Chinese imports of German goods – has been critical of the EU’s decision to increase tariffs on imports of Chinese EVs and Habeck is the first senior European politician to visit the country since the extra duties were announced.
The Chinese market is crucially important for Germany’s vast carmaking industry, making Berlin particularly vulnerable to any retaliatory measures by Beijing, which has already announced its own anti-dumping investigation into EU pork products.
While he struck a conciliatory tone on tariffs, which are yet to be finalized, Habeck was also critical of China’s growing exports to Russia and cited Germany’s efforts to stop exports of “dual-use” goods with potential military applications.
“I looked at the trade figures and Chinese trade with Russia increased more than 40% last year,” he said. “Of course energy is a high part [of] it, but something like half of it is related to dual-use goods. These are technically goods that can be used on the battlefield and this has to stop.”
Spoiler alert: it won’t stop since Germany needs Chinese buyers more than China needs to placate Germany. China is one of Germany’s largest trading partners and Berlin has sought to carefully navigate rising tensions between Beijing and Washington that increased sharply following Russia’s invasion of Ukraine in 2022.
According to the FT, Habeck also visited Beijing where he met Wang Wentao and Zheng Shenjie, head of the National Development and Reform Commission. He said they spoke about energy and climate issues as well as human rights with Chinese officials as part of “intense discussions”.
However, as DW reports, a planned meeting with Premier Li Qiang did not materialize with Premier Li Qiang was cancelled at the last minute without explanation, in a clear snub at Germany.
On Sunday, the German vice-chancellor said China should find a safe alternative to coal after the country ramped up production of the carbon-intensive fuel source. “Without China it would not be possible to meet the climate targets globally,” he said during a visit to Hangzhou, according to a Reuters report.
While Joe Biden imposed tariffs of 100 per cent on Chinese electric vehicles this year, higher than the EU, though the US imports much smaller volumes.
Olaf Scholz, Germany’s chancellor, met President Xi Jinping in April and encouraged China’s president to pressure Russia to end its campaign in Ukraine. Absolutely nothing came out of that, which is understandable since Scholz also petitioned Li for greater market access for German companies in the mainland. Perhaps someone should explain to Germany that when you are begging for concessions, you can’t also be demanding conditions.
Meanwhile, Xi and his Russian counterpart Vladimir Putin have trumpeted their close relationship and sworn to increase trade. Russia became China’s fifth-biggest single-country trading partner last year, up from ninth in 2020, as trade reached $240bn. Chinese exports to Russia rose 46.9 per cent in 2023 year on year, according to official data. Much, if not all of this increase in trade between China and Russia, has come at the expense of the increasingly spineless and irrelevant Germany.
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
EUROPE/
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS RAFAH
ISRAEL/HEZBOLLAH/LEBANON
This could get quite ugly if Israel bombs their airport
(JerusalemPost)
As Lebanon seeks to disprove claims of Hezbollah arsenal in airport, reporters denied full access
Lebanese ministers claimed that the Telegraph’s report on a weapons arsenal being stored in the airport was “part of Israel’s attempts to justify its attacks on Lebanon.”
By DANIELLE GREYMAN-KENNARDJUNE 25, 2024 03:30
Lebanese officials offered journalists and ambassadors tours of Beirut–Rafic Hariri International Airport in an attempt to refute claims, made by the British newspaper The Telegraph, that this site was acting as a storage facility for weapons, according to international media reports from earlier this week.
Lebanese Foreign Affairs Minister Abdallah Bou Habib, Public Works and Transport Minister Ali Hamieh, Tourism Minister Walid Nassar, and Information Minister Ziad Makary all participated in the tours.
Habib reportedly claimed that “the airport is safe and that these rumors are part of Israel’s attempts to justify its attacks on Lebanon,” according to LBC International.
“With this article, we’ve gone from [Israeli] airspace violations to a psychological war through written articles,” Hamieh claimed, according to the Los Angeles Times.
“And now we’ve shown the falsehood of those articles,” he told the group. “They are silly articles.”
Stones left unturned
Despite denying the claims made by the Telegraph, and organizing a tour of the airport facility to disprove the existence of Hezbollah weapons on airport property, the Algemeiner reported that journalists were prevented from accessing a key cargo depot.
“Beirut airport security prevented journalists from entering the cargo center at the airport,” Al-Hadath journalist Ghinwa Yateem reported after the tour concluded. The journalist also claimed that Lebanese officials “did not let us film or enter certain areas.”
Additionally, reporters were shown a nearly empty warehouse which is supposedly responsible for holding 20% of the import traffic, according to the Algemeiner.
International parties touring the airport
Members of the European Union, Germany, Spain, Egypt, China, India and Pakistan attended the viewing, according to the Los Angeles Times. Additionally, a representative from UNIFIL forces also attended the tour, according to Lebanon’s National News Agency.
The parties reportedly saw the air cargo and import goods centers, and the fence surrounding the airport perimeter where they were introduced to the security and customs procedures.
Accusations of weapons being held at the airport
Anonymous airport workers claimed to the Telegraph that Hezbollah was holding a weapons cache at the airport.
One worker told the Telegraph that in November “unusual” boxes arrived from Iran and that a high-ranking Hezbollah official was overseeing the customs shipments.
”
END
The world gets more tense as the potential for Israel bombing Iran increases
(zerohedge)
Growing international alarm over potential third Lebanon war involving Iran
International alarm grows over potential third Lebanon war involving Iran. Netanyahu warns of Iran’s multi-front threats while diplomats urge diplomatic solutions amid escalating tensions.
By TOVAH LAZAROFF, YAEL HALFONJUNE 24, 2024 23:45Updated: JUNE 25, 2024 00:04
International alarm grew Monday over the prospects of a third Lebanon war that could spill over to include Iran, as Prime Minister Benjamin Netanyahu warned that the Islamic Republic was the force behind the country’s multi-front existential wars.
“We are in a fight for our existence, a fight being conducted on seven fronts. The attack against us is being led by Iran, which openly seeks to destroy us,” Netanyahu told the Knesset plenum on Monday.
“Iran and its proxies have been scheming to do this through missile attacks against Israel and by invading our territory. The more we deepen the war in the Gaza Strip, the more we discover additional evidence of the scope of the multi-front campaign against us,” Netanyahu said.
“We will thwart this campaign,” he stressed.
National Unity Party head MK Benny Gantz, who is a former defense minister and IDF chief of staff, told French President Emmanuel Macron in a phone conversation that the possibility of a diplomatic solution to the cross-border violence seemed more remote, and war more likely.
“Resorting to military means to remove the threat Hezbollah poses to the citizens of Northern Israel as part of the wider Shi’ite-Iranian axis of terror destabilizing the region, seems increasingly necessary,” Gantz told Macron, according to his spokesperson.
US and Israeli officials urge diplomatic solutions
Gantz stressed the importance of consolidating a new regional architecture based on an alliance of moderates to counter growing Iranian aggression, his spokesperson explained.
US State Department spokesperson Matthew Miller cautioned Israel that “we will continue to press the government of Israel that we don’t want to see further escalation.”
He spoke with reporters as Gallant met with US Secretary of State Antony Blinken in Washington. The two met after Gallant spoke face-to-face with US envoy Amos Hochstein, who visited Israel and Lebanon last week.
“We don’t want to see a full-scale war with Hezbollah. We think there ought to be a diplomatic resolution to the conflict across the Israel-Lebanon border that is keeping tens of thousands of families on each side of the border from returning to their homes,” Miller said.
US Ambassador to Israel Jack Lew told the 21st Herzliya Conference at the Reichman University on Monday that the US was “urging a diplomatic solution,” and that Hochstein had been traveling back and forth between Lebanon and Israel to try and achieve that goal.
“A diplomatic outcome… is, I think, closer than people think in terms of most of the issues,” Lew said. “We just are not at a point in time where there’s the kind of quiet in Gaza to permit that to get to a completion.”
Lew in Herzliya and Miller in Washington both stressed the importance of a Gaza ceasefire to the restoration of calm along Israel’s northern border.
US Chairman of the Joint Chiefs of Staff the Military, General C.Q. Brown, warned on Sunday that it was unlikely that America could provide the kind of security umbrella to Israel in the event of a war with Hezbollah, as it did when Iran attacked in April. His words carried added weight in light of concerns that Hezbollah missiles could overwhelm the Iron Dome system in the North.
German Foreign Minister Annalena Baerbock, who visited Israel on Monday en-route to Beirut, spoke of the growing tensions in the North when she addressed the Herzliya Conference.
“The risk of an unintended escalation and of all-out war is growing by the day,” she stated.
“We are extremely concerned about the increase in violence at the northern border,” Baerbock said. “I will pay a visit to Beirut tomorrow again exactly for this reason, where many also do not want another war. Together with our partners, we are working hard on finding solutions that can prevent more suffering,” she said.
“Israel has a right to defend itself against Hezbollah’s relentless attacks in the North,” she stressed. “It’s Hezbollah who started this violence” after the Hamas-led attack against Israel on October 7, “forcing tens of thousands of Israelis from their homes. No country in the world should have to accept that.”
The German Foreign Minister called on Hezbollah to withdraw the 2006 ceasefire line from the Second Lebanon war, as she called for the full implementation of UN Security Council resolution 1701 that codified that ceasefire.Earlier in the day, Baerbock participated in a meeting of European Union foreign ministers led by EU policy chief Josep Borrell.
He warned that the Middle East was close to seeing the conflict expanding into Lebanon, just days after Hezbollah threatened EU member Cyprus.
“The risk of this war affecting the south of Lebanon and spilling over is every day bigger,” Borrell told reporters ahead of a foreign ministers meeting in Luxembourg.
“We are on the eve of the war expanding,” he said.
Hezbollah chief Sayyed Hassan Nasrallah last week said that nowhere in Israel would be safe if a full-fledged war breaks out between the two foes, and also threatened EU member Cyprus for the first time and other parts of the Mediterranean.
“It is absolutely unacceptable to make threats against a sovereign state of the European Union,” Greek Foreign Minister George Gerapetritis said. “We stand by Cyprus and we will all be together in all kinds of global threats coming from terrorist organizations.”
Reuters contributed to this report.
ISRAEL/HOUTHIS/RED SEA
ISRAEL/HAMAS RAFAH
UKRAINE/RUSSIA
Russia introduces glide bombs as their summer offensive begins
(zerohedge)
New Russian “Glide Bombs” Proving Highly Effective As Summer Offensive Begins
TUESDAY, JUN 25, 2024 – 05:45 AM
A new weapon (outfitted using old weapons) has been used increasingly by Russia in the past two months and it’s proving to be highly effective as the Russian forces in Ukraine ramp up what looks to be the beginning of a long anticipated summer offensive. Dubbed the “glide bomb,” they are actually Soviet era FAB bombs retrofitted with glide technology and rudimentary laser/GPS guidance. The FABs can weigh up to 6600 pounds and have a deadly shrapnel radius of at least 200 yards.
The glide bombs are launched from Russian air assets well away from Ukrainian anti-aircraft positions and the weapons “glide” up to 40 miles to front line targets with relative precision. The cost of retrofitting FAB bombs is far cheaper than building modern laser guided weapons like ATACMS. The bombs give Russia the ability to provide air support to offensive troops without putting aircraft in the way of NATO missiles. Meaning, they are the perfect weapon to enable a new Russian offensive action. European tacticians are calling the glide bombs “wonder weapons.”
There are reports that the newest version of the glide bomb called the ‘FAB 3000’ is already being used at the front. The bombs are so large they do not require a direct hit on target in order to do extensive damage.
A three-ton FAB-3000 aerial bomb with planning and correction module.
·
16.6K Views
It is illegal for Ukrainians to post video footage on social media of damage caused by Russian strikes unless it is approved by the government first. However, there is enough evidence of damage caused by FABs to prove they are being used in great numbers in cities like Kharkiv. The Ukrainian media admitted on June 23rd that at least 35 glide bombs hit Kharkiv in a single day, perhaps softening up the area for a future offensive push.
The uptick in the use of these weapons has coincided with increased Russian activity in the east at dozens of points along the front, indicating that a larger scale offensive action has begun. As long as their forces remain within a range protected by glide bombs and artillery the Ukrainians are at a distinct disadvantage.
END
RUSSIA/
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
(COURTESY Lex Acker)
special thanks to Robert H for sending this to us;
Moderna and Pfizer Disclosed to NACI Adverse Events Rate Par with Canada’s Violent Crime Rate
I recently posted a comment on Byram Bridle’s Substack explaining why the BC Centre for Disease Control (BC CDC) number of reports on Adverse Events Following Immunization (AEFIs) suddenly dropped on April 3rd, 2021 compared to March 25th, 2021. On April 3rd, 2021, the BC CDC started disseminating to the general public COVID-19 AEFIs whereas before that date, AEFIs were not discussed with the public.
From April 3rd, 2021, and onward, the BC CDC narrowed its definition of AEFIs and that’s what caused AEFI data disseminated to the general public to be significantly understated. I made that finding within 3 hours of digging into the 1300+ pages FOI request package that Byram was writing about. I posted my comment. My social media exploded immediately after that. I didn’t anticipate at all the public interest in this topic.
Since the public is interested, buckle up, I have more to say on AEFIs.
National Advisory Committee on Immunization
National Advisory Committee on Immunization (NACI) is a committee of experts part of the Public Health Agency of Canada (PHAC). NACI issued an Advisory Committee Statement (ACS) on December 23rd, 2020, on the use of COVID-19 vaccines and communicated it to Bonnie Henry, Chief Medical Officer of British Columbia, Monika Naus (BC CDC) and dozens of other bureaucrats on the same day. NACI’s ACS can be found on p. 143 of BC FOI request # HTH-2021-11013.
NACI’s Frequency Categories of Adverse Events
On p. 162 of BC FOI request # HTH-2021-11013, NACI defines “Very common” and “Common” adverse events:
- Very common: 10%+ of vaccinees
- Common: 1% to less than 10% of vaccinees
On p. 163 of BC FOI request # HTH-2021-11013, NACI defines “uncommon”, “rare”, and “very rare” adverse events:
- Uncommon: 0.1% to less than 1%
- Rare: 0.01% to less than 0.1%
- Very Rare: less than 0.01%
These frequency categories of adverse events are expressed in NACI’s summary of a somewhat very narrow range of AEFIs.
The grid above is on p. 198 of BC FOI request # HTH-2021-11013. Note that none of the AEFIs that NACI discusses have a Rare or Very Rare rating. The absence of “very rare” events is explained by the clinical trial population size, but the clinical trial population size is big enough to monitor for “rare” adverse events, yet they’re not discussed. Pfizer’s infamous 5.3.6 CUMULATIVE ANALYSIS OF POST-AUTHORIZATION ADVERSE EVENT REPORTS document shows 9 pages of Adverse Effects of Special Interest. There’s no mention of any Severe or Serious Adverse Events.
In Appendix D, NACI’s narrow range of discussed adverse events, omitting Severe Adverse Events, is a reckless act tantamount to fraud.
NACI Has No Data on the Reduction of Transmission from Pfizer or Moderna
About Pfizer’s reduction of transmission on P. 183 of BC FOI request # HTH-2021-11013, this is what NACI’s data say about the Pfizer vaccine:
About Moderna’s reduction of transmission on P. 187 of BC FOI request # HTH-2021-11013, this is what NACI’s data say about the Moderna vaccine:
NACI admits that evidence is absent on the reduction of transmission for both vaccines. Vaccine mandates were predicated on the reduction of transmission.
NACI’s Quantified Knowledge of Pfizer’s and Moderna’s Severe Adverse Effects (SAEs)
In NACI’s Recommendations on the use of COVID-19 Vaccines, appendices A and B discuss the frequency of Severe or Serious Adverse Effects for the Pfizer and Moderna COVID-19 vaccines respectively.
Pfizer
About Pfizer’s COVID-19 vaccine, on P. 184 of BC FOI request # HTH-2021-11013, NACI has data distinguishing between Severe Adverse Events and Life-threatening events after 2 doses. NACI stated this:
First observation, the “placebo” group SAE’s frequency is not 0% but of the same order of magnitude as the vaccine group. This means that the “placebo” group did not receive a real placebo but a substance that is similarly as toxic as the vaccine. A placebo, like a saline solution, should be harmless and not have any Severe Adverse Events.
To explain why the placebo group has SAEs not close to 0% but slightly less than the vaccine group, I suspect the placebo group was simply injected with a lesser dose of the vaccine or with a substance similar to the vaccine without the mRNA. The purpose of this scheme would be to produce relative measures of efficacy to pass regulatory approval.
Second observation, the percentages can also be expressed in per 100,000 population statistics:
Moderna
About Moderna’s COVID-19 vaccine, on P. 184 of BC FOI request # HTH-2021-11013, NACI has data on SAEs after 1st and 2nd dose. NACI stated this:
With Moderna, similarly to Pfizer, the first observation is that the “placebo” group SAE’s frequency is not 0% but of the same order of magnitude as the vaccine group. The difference in SAE frequency between the vaccine and the placebo group of Moderna is even narrower than with Pfizer’s. Again, this means that Moderna’s “placebo” group did not receive a real placebo but a substance that is similarly as toxic as the vaccine.
Tying It Together with The BC CDC SAEs
Circling back to Byram Bridle’s observations on the BC CDC SAEs reporting.12
Comparing what NACI knew from Pfizer’s and Moderna’s disclosure to PHAC versus the BC CDC’s monitoring of SAEs, one can reasonably conclude that the BC CDC is most likely committing fraud by using a very narrow definition of SAEs to protect and pursue a political agenda.
On April 5th, 2021, in Canada, the COVID-19 estimated cumulative excess deaths per 100,000 people was a mere 41.5 per 100,000 or 0.0415%.3 It’s obvious that disseminating SAE rates of the COVID-19 vaccines greater than the COVID-19 excess mortality would automatically demonstrate that the cure is worse than the disease. The public would not have accepted the vaccine. That’s why the BC CDC and NACI had to commit fraud. The political agenda required it.
Conclusion
We’re dealing with government criminality. The federal and provincial governments mandated vaccines on the premise of reduction of transmission and they never had any data supporting that. I call that a criminal abuse of power.
About 80% of Canadians took these unsafe and ineffective shots. My gut feeling is that about 40% took it willingly and the other 40% were coerced. All who received it were, at the very least, deceived. The best way to put these disclosures in proper context is to compare them to Canadian crime statistics. In 2021, Canada’s police-reported violent crime rate was 1323 per 100,000 population.4
The magnitude of the COVID-19 vaccines SAEs is commensurate and comparable to Canada’s violent crime rate.
From this table summarizing NACI’s knowledge of the frequency of SAEs when it strongly recommended the use of the COVID-19 vaccines and comparing with Canada’s police-reported violent crime rate, we can conclude that Canada knowingly deployed and assaulted its population with a bioweapon to pursue a political agenda, not a public health agenda.
Currently, the public’s fear, anger, indignation, and attention are directed at foreign conflicts. I suspect that will abruptly flip when, in the near future, in some jurisdictions, mainstream news or other mass messaging systems will broadcast something like: “The COVID-19 vaccines are harmful and did not protect against COVID-19. Please remain calm…” This will spread to neighboring jurisdictions. Then, parents will flip when they realize that they were deceived into harming their children. That’s when the shit hits the fan.
I’m not apprehending nukes, famine, global armed conflicts, eating bugs, digital currency enslavement, another pandemic, or some other fear-mongering narrative. I see a great purge of an entrapped web of malfeasance operating at every level of government, across the non-profit and the private sectors transnationally.
The strongest antidote against inflation and erosion of living standards that has never been deployed is a great purge of bureaucracies and the dismantling of webs of corruption.
The mainstreaming of COVID-19 vaccine harmfulness will fuel demand for drastic anti-corruption measures. That’s on the horizon.
“The only way out of this geo-political and cultural shitshow that the world is in is to love the truth more than yourself. If you don’t, you’ll keep suffering from great delusions.”
end
the vaccine injuries are causing this
(Ed Dowd)
Study Finds Alarming Surge In Deaths From Neurological Disease Among Young Adults
ED DOWD….
MONDAY, JUN 24, 2024 – 08:40 PM
A recent preprint study which relies on extensive data from the Centers for Disease Control and Prevention (CDC) paints a concerning picture of the neurological health landscape in the United States. The study, which focuses on those aged 15-44, reveals a disturbing increase in deaths from neurological diseases both as the primary cause and among multiple contributing factors.
This uptick in mortality rates, which is particularly significant among younger adults, could have profound implications for the nation’s public health policies, especially in the wake of the COVID-19 pandemic.
Perhaps most concerning, the study found an increase in neurological complications following COVID-19 vaccinations, including conditions such as Guillain-Barré syndrome and acute disseminated encephalomyelitis.
According to Phinance principal Ed Dowd, “The results show a clear break from the prior historical trend in death rates from neurological diseases.”
US – Trends in Death Rates from Neurological Diseases, Ages 15-44 Our results show that the excess UC (Underlying Cause) death rates from neurological diseases for individuals aged 15 to 44 age were 4.4% (Z-Score 4.9) in 2020, then rose to 10.0% (Z-Score 11.1) in 2021, 11.2% (Z-Score 12.4) in 2022 and 8.1% (Z-Score 9.0) in 2023. In 2020 we already observe a significant deviation from the 2010-2019 trend in UC death rates, and the excess UC death rates in 2021, 2022 and 2023 can be considered extreme occurrences due to their very high statistical significance. The results show a clear break from the prior historical trend in death rates from neurological diseases, pointing to a new phenomenon in action, worsening in 2022 and persisting through 2023.
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41.4K Views
https://twitter.com/DowdEdward/status/180387835994197239
The Study: Methodology and Key Findings
Researchers Carlos Alegria and Yuri Nunes of Phinance Technologies conducted a deep dive looking at neurological disease-related mortality across various age groups from 2000 to 2023.
Their study distinguishes between deaths where neurological conditions were the underlying cause (UC) and instances where these diseases were listed among multiple causes (MC) on death certificates, and compares death rates against a baseline to identify excess deaths.
Key findings from the study include:
- A notable rise in excess mortality from neurological diseases reported as the underlying cause of death among individuals aged 15 to 44, with increases of 4.4% in 2020, 10.0% in 2021, 9.9% in 2022, and 8.1% in 2023.
- Excess deaths from neurological conditions as part of multiple causes tracked overall mortality rises and were significant even after removing deaths where COVID-19 was also reported.
As Phinance notes, “The strength of the statistical significance of the excess deaths from neurological diseases was very high, being considered extreme events, indicating a clear change from the prior 2010-2019 trend.”
The intersection of the COVID-19 pandemic with the rise in neurological disease deaths adds layers of complexity to the analysis – including the notion that various medical interventions and societal disruptions might have exacerbated underlying neurological vulnerabilities:
- Notably, the study points to an increased risk of developing severe neurological conditions following COVID-19 vaccinations, with specific vaccines linked to higher risks of serious ailments such as the aforementioned Guillain-Barré syndrome.
- Some cases of long covid have been associated with long-term neurological complications.
Perhaps most alarming is the impact on younger individuals. Those aged 15-44, typically considered in the prime of life, exhibited a stark increase in neurological disease-related deaths. This raises serious questions about potential environmental, biological, or social factors that are disproportionately affecting younger populations.
The authors conclude:
How can we explain the excess UC deaths from neurological diseases in 2020, 2021, 2022 and 2023? In 2020, this could be explained by deaths from health effects related to the pandemic management measures such lockdowns and lack of medical care, or other related factors such as stress, less exercise, worse food habits, or from under-diagnosed COVID-19 itself, or related side effects. The acceleration in excess death rates from neurological diseases in 2021, 2022 and 2023 is more difficult to explain due to COVID-19 on its own. Given the case studies of neurological adverse events following COVID-19 vaccination cited in the literature, one possible factor could be adverse effects of the COVID-19 vaccines. Furthermore, one must also account for the possibility of continuous COVID-19 infections or Long COVID…
Implications for Public Health
The implications of these findings extend far beyond the immediate health of the young adult population – and pose serious questions about the readiness of the U.S. healthcare system to handle a potential influx of neurological health needs and the potential need for sweeping changes in public health policy:
- There is a clear call for focused research to unravel the factors driving this surge in neurological deaths.
- Public health strategies may need to pivot towards enhancing neurological health services and preventive care, particularly for younger populations.
- Understanding the full impact of COVID-19 on long-term health outcomes will be crucial in shaping future healthcare initiatives.
The study raises concerning and considerations – between the social impact of waves of potential neurological disease and the woefully underprepared healthcare system, health priorities in the coming decades will need to be analyzed and addressed.
WORLD EVENTS NOTEWORTHY
“Julian Is Free!” Assange Released After ‘Time Served’ Plea Deal With DOJ, Departs For Home
MONDAY, JUN 24, 2024 – 09:24 PM
Update(2124ET): WikiLeaks has released its first footage showing Julian Assange as a free man, emerging from Belmarsh prison looking triumphant and joyous, and soon after boarding a plane to his native Australia…
Stella Assange #FreeAssangeNOW
Julian is free!!!! Words cannot express our immense gratitude to YOU- yes YOU, who have all mobilised for years and years to make this come true. THANK YOU. tHANK YOU. THANK YOU. Follow
for more info soon…
0:04
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Below is the official statement from WikiLeaks:
JULIAN ASSANGE IS FREE Julian Assange is free. He left Belmarsh maximum security prison on the morning of 24 June, after having spent 1901 days there. He was granted bail by the High Court in London and was released at Stansted airport during the afternoon, where he boarded a plane and departed the UK. This is the result of a global campaign that spanned grass-roots organisers, press freedom campaigners, legislators and leaders from across the political spectrum, all the way to the United Nations.
This created the space for a long period of negotiations with the US Department of Justice, leading to a deal that has not yet been formally finalised. We will provide more information as soon as possible. After more than five years in a 2×3 metre cell, isolated 23 hours a day, he will soon reunite with his wife Stella Assange, and their children, who have only known their father from behind bars.
WikiLeaks published groundbreaking stories of government corruption and human rights abuses, holding the powerful accountable for their actions. As editor-in-chief, Julian paid severely for these principles, and for the people’s right to know. As he returns to Australia, we thank all who stood by us, fought for us, and remained utterly committed in the fight for his freedom. Julian’s freedom is our freedom.
Below is a video statement from his wife, Stella Assange:
* * *
In a shocking turn of events, Julian Assange will plead guilty to leaking US national security secrets and return to his native Australia, under a deal with Biden’s DoJ that ends a nearly 15-year battle nightmare for the WikiLeaks founder.
After spending more than a decade holed up and imprisoned in London – mainly to avoid being sent to the US – Assange, 52, is expected to be sentenced to time served (62 months in a Belmarsh prison – a high security facility in South-East London) during a court appearance Wednesday in Saipan, in the US Northern Mariana Islands, avoiding a potentially lengthy sentence in an American prison.
Prosecutors had been in talks with Assange to resolve the 2019 case, The Wall Street Journal reported in March, with one sticking point being Assange’s desire to never set foot in the United States.
To enter a felony plea, defendants generally have to show up in person in court.
Assange’s team had floated the possibility of pleading guilty to a misdemeanor, the Journal reported, which would mean Assange could enter the plea remotely.
The Justice Department and Assange’s legal team reached a compromise under which Assange wouldn’t have to travel to suburban Virginia, where the original case is filed, and prosecutors could still get a felony plea, the people said.
As The FT reports, the agreement aims to resolve what has been a remarkable stand-off between the DoJ and Assange, who has become one of the world’s most controversial advocates for government transparency and whose legal troubles have spanned multiple countries.
The plea deal also offers a neat solution to what was becoming an increasing political headache for the U.S. government.
Earlier this year, Australian Prime Minister Anthony Albanese said he hoped the U.S. could find a way to conclude the case against Assange, and lawmakers there passed a motion calling for Assange to be allowed to return to his native home. German Chancellor Olaf Scholz has also weighed in, saying that the British courts should not extradite Assange to the U.S. In February, the United Nations special rapporteur on torture, Alice Jill Edwards, said Assange shouldn’t be extradited to the U.S. to face trial, saying he suffered from “depressive disorder” and was at risk of being placed in solitary confinement.
Finally, while this is excellent news for Assange and his family – and journalistic freedom everywhere – we can’t help but wonder if this outstanding result would have occurred were it not for Biden heading into the first debate with Trump with his poll numbers in the toilet…
Who cares! They are; and Julian is free…
END
WORLD HEALTH ISSUES
DR PAUL ALEXANDER
Breaking: Russia warns the U.S. to brace for retaliation after Kremlin blamed Washington for missile attack that killed four in Crimea; The Kremlin has accused the U.S. of ‘killing Russian children’
after a Ukrainian attack on occupied Crimea with long-range missiles supplied by Washington and said there will be ‘consequences’. Moscow has summoned the U.S. ambassador to issue a formal warning…
| DR. PAUL ALEXANDERJUN 24 |
‘The Kremlin has accused the U.S. of ‘killing Russian children’ after a Ukrainian attack on occupied Crimea with long-range missiles supplied by Washington and said there will be ‘consequences’.
Moscow has summoned the U.S. ambassador to issue a formal warning, while Kremlin spokesman Dmitry Peskov issued a public statement slamming the U.S. for ‘barbaric’ strike on Sevastopol, a strategic port city on the Black Sea.
Alexander MAGA COVID News; a PCR manufactured COVID pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
‘The involvement of the United States, the direct involvement, as a result of which Russian civilians are killed, cannot be without consequences,’ said Peskov.’
‘Time will tell what these will be.’
‘You should ask my colleagues in Europe, and above all in Washington, the press secretaries, why their governments are killing Russian children. Just ask them this question.’ the spokesman for Vladimir Putin said.
After the Sevastopol strike, Russia accused the U.S. of ‘waging a hybrid war against Russia’ and of becoming ‘a party to the conflict.’
Russia also told U.S. Ambassador to Russia Lynne Tracy the attack would ‘not go unpunished. Retaliatory measures will definitely follow.’
This is getting bad. The Obama-Biden administration are taking us to WW III. None of this happened under Trump, he had it contained after Obama and Clinton laid the ground work…its the neocons and neolibs of the corrupted incompetent Obama-Biden administration that have us here…war mongering freaks.
SLAY NEWS
| The latest reports from Slay News |
| Bombshell Study: Covid Shots Caused 74% of All DeathsA bombshell study has finally been made public after being heavily censored to cover up the devasting direct link between Covid mRNA shots and the surging mass deaths recorded all around the world.READ MORE |
| Top Law Professor: Vax Pushers Committed ‘Crimes Against Humanity’One of the most prominent law professors in the world has just declared that “everyone involved” in pushing Covid mRNA shots onto the public committed “crimes against humanity.”READ MORE |
| Male Runner Vows to ‘Take All the Records’ in Women’s EventsA male runner has vowed that he plans to “take all the records” from real women while competing in female events.READ MORE |
| Maxine Waters: Trump Is Threatening ‘Millions’ with ‘More Killings’ If Re-ElectedDemocrat Rep. Maxine Waters (D-CA) has issued a wild warning to the American people during an unhinged appearance on national television.READ MORE |
| Leftists Begin Melting Down as Supreme Court Set to Release Trump Immunity Decision SoonAs the United States Supreme Court prepares to soon release its decision on President Donald Trump’s presidential immunity, leftists are already beginning to melt down. READ MORE |
| Biden Aides Hint at ‘Aggressive’ Strategy as Presidential Debate LoomsAnticipation is continuing to build as the first presidential debate of the election season kicks off this week.READ MORE |
| Former Federal Prosecutor Lays Out Democrats’ Plan If Judge Cannon Removes Jack SmithA former federal prosecutor has revealed the next steps that Democrats would need to take if Judge Aileen Cannon rules that Jack Smith was illegally appointed as special counsel.READ MORE |
| Biden Promotes White House Official with Radical Views on Law Enforcement and ICEDemocrat President Joe Biden has promoted a radical official into a key White House position, according to reports.READ MORE |
| New Poll Shows Trump Heading for Landslide Victory in NovemberA major new poll has emerged that shows President Donald Trump surging toward a landslide victory in the critical November election.READ MORE |
NEWS ADDICTS
| Pfizer CEO Admits Mass Depopulation Coming Soon: ‘Covid Was Just a Test’Pfizer CEO Albert Bourla has boasted that deaths seen during the Covid pandemic will pale into insignificance when globalists soon unleash the next mass depopulation event.READ THE FULL REPORT |
| Bill Gates Caught Funding Major Depopulation PlansBillionaire Bill Gates has been caught funding shocking experiments that seek to wipe out the vast majority of the human population.READ THE FULL REPORT |
Censored Study Exposes Shocking Death Surge Among Vaxxed
A heavily censored study has exposed the truly shocking impact of the Covid mRNA shots on the general public.
READ THE FULL REPORT
Judge Cannon Presses Jack Smith’s Prosecutor on Funding for Special Counsel
Judge Aileen Cannon held an early Monday hearing to assess the constitutionality of Special Counsel Jack Smith’s appointment. Judge Cannon questioned James Pearce, the prosecutor for Jack Smith, about funding for the special counsel, oversight of the team, and whether Jack Smith holds a higher or lower rank as an officer. The Justice Department claims Jack Smith is an inferior …
READ THE FULL REPORT
JUST IN: Hunter Biden’s Attorneys Request New Trial Following Guilty Verdict in Gun Case
Hunter Biden requested a new trial for his gun case on Monday following a guilty verdict from the jury. Last week, Hunter’s lawyers filed a motion for a new trial in his gun case, but they withdrew it suddenly without giving any reasons. Earlier this month, jurors reached a verdict in Hunter Biden’s criminal gun trial after deliberating for three …
READ THE FULL REPORT
Instagram Labels Tucker Carlson’s Account with ‘Insane Warning’, Urges Users to Reconsider Following
Tucker Carlson boasts more than 3.7 million followers on Instagram. On another platform, X, his following is nearly 13 million. Given that X is perceived as less restrictive, Carlson regularly posts episodes of his new show there. This disparity in followers might stem from another factor. A quick search for Carlson didn’t uncover his verified account. Instead, the results were …
READ THE FULL REPORT
BREAKING: U.S. Supreme Court to Rule on Four Key Issues in the Coming Week
The U.S. Supreme Court is set to issue several major rulings in the upcoming week. These decisions will address key issues, including whether former President Donald Trump has extensive immunity for actions taken during his presidency, obstruction charges stemming from the January 6, 2021, breach of the U.S. Capitol, regulations governing social media, and the authority of federal agencies. The …
READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
China Dangles A Car-Rot
TUESDAY, JUN 25, 2024 – 10:00 AM
By Bas van Geffen, CFA, Senior Macro Strategist at Rabobank
The European tariff hike on Chinese electric vehicles hasn’t even come into effect, but parties on both sides are already looking for a diplomatic solution. In a meeting between German Economy Minister Habeck and China’s Commerce Minister Wang Wentao, China reportedly offered to lower its existing tariffs on large-engine cars if the European Union cancels the punitive import duties on Chinese EVs.
It’s China dangling the carrot, after it already threatened to apply the stick on European pork exports, and the (predominantly German) car industry, for example. And at the same time that China expresses a willingness to negotiate, it also threatens to file a dispute at the World Trade Organisation.
This apparent willingness to work out an agreement underscores the completely different approach to trade between the parties involved. Brussels’ decision to impose tariffs is based on a formal procedure and an in-depth investigation into unfair state subsidies; it is not intended to be a tool for negotiations and its goal is not to get China to lower its duties on European products.
Yet, Germany’s Scholz reiterated on Monday that he would like to see a negotiated solution. And so, China’s carrots might be driving some change. Minister Habeck was “hopeful” about China’s apparent willingness to negotiate, and German industrial leaders will probably hail the prospect of lower tariffs as a victory. This raises the risk that the German government could try to revert the import duties. That could turn out to be a colossal mistake in the long run. It may bring some short-term gains to Europe’s industry, but it would not help the structural outlook for these manufacturers. It may also drive another wedge into European unity.
The current weakness of the German industry offers some explanation for Germany’s position in the car tariffs discussion. The IFO business climate survey yesterday confirmed that German manufacturing remains in a weak state, echoing the signal from last Friday’s PMI report. The IFO index dropped 0.7 points to 88.6 led by lower expectations. Services and construction (which are both more domestic-oriented sectors) actually improved a bit, but this was offset by a renewed deterioration in trade and manufacturing activity.
After the US and Europe, Canada is now also putting up no-entry signs for Chinese EVs. Finance Minister Freeland formally launched a consultation, which is a first step towards tariffs. Additionally, the Canadian government will also examine the list of electric vehicles that is currently eligible for federal consumer incentives, and potentially “broader investment restrictions” in the Canadian EV industry.
Contrary to the German opposition, the auto industry is actually pushing Trudeau’s government to impose tariffs in order to protect the domestic industry and jobs. But, more importantly, the country will feel some pressure to re-align with the US – who recently raised the import duties on Chinese EVs to prohibitive levels. A review of the North American Free Trade Agreement is coming up in less than two years, and Canada probably does not want to be scolded as the side road into the US market. At the same time, Canada will be mindful of any Chinese retaliation, its second-largest trading partner.
It once again underscores the difficult trade-off facing Western leaders. China, meanwhile, is taking a more strategic approach to its domestic industry. President Xi reiterated that several key technologies are currently controlled by others. Xi said China must strive for self-reliance when it comes to advance technologies, and he called for a greater sense of urgency in research and development in areas like artificial intelligence, quantum technology, and biotech.
But will that be the new growth impulse that the economy needs? Despite all the headwinds that still plague China’s economy, Premier Li expressed confidence that the 5% growth target for this year can be achieved. Li did acknowledge that shaking off the difficulty of growth requires new growth drivers.
Unofficially, China may still be looking abroad for some of this growth. In fact, it may be another reason why the Chinese government expressed willingness to negotiate on the European tariffs – apart from trying to sow discord in the European ranks. Of course, officially, Premier Li rebutted accusations of industrial overcapacity and dumping: he stressed that Chinese products first and foremost satisfy domestic demand. We would add that this domestic demand has been one of the weak spots in China’s economy, though. And perhaps somewhat contradictory, Li added that China’s manufactured goods help to ease global inflationary pressures and warned that decoupling and protectionism will only raise operating costs across the global economy. At the very least, note that Li is saying this to the West while Xi has just pleaded for more decoupling in key Chinese technologies.
7.OIL PRICES/GAS PRICES/OIL ISSUES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
KENYA
“The IMF does not put out fires, they create them”…..Prof. Robert Barro
Kenya Protesters Storm Parliament, Police Fire Live Rounds, After Lawmakers Unleash Eco-Austerity
TUESDAY, JUN 25, 2024 – 10:40 AM
The Kenyan capital of Nairobi has descended into violence and mayhem as large street protests by Kenyans outraged at new tax policies and a harsh ‘Eco-Austerity’ program imposed by the government have resulted in the parliament building being set on fire.
Legislators are evacuating after the anti-tax protesters initially breached parliament. They quickly overwhelmed police soon after the lawmakers voted to pass a bill which introduces new nationwide taxes, including an eco-levy which raises the price of basic goods such as diapers, as part of efforts to curb waste management and be more environmentally friendly.
The new taxes were tucked away in Kenya’s Finance Bill 2024, and directly impacts imports, prices, and sales of diapers, batteries/dry cells, smartphones, earphones, clocks, radios, TV sets, cameras… staplers, printers, calculators, photocopying machines, keyboards, mice, projectors and LCD monitors.
The stringent Eco Levy especially impacts those who intend to import plastics into the Kenyan market, imposing a hefty fee per kilo on the products.
Protesters have been shouting while entering parliament, “We’re coming for every politician.” There are widespread reports that police have begun utilizing live fire against the throngs, also amid riot control measures such as tear-gas.
Currently, President William Ruto is outside the capital attending an African Union event, but he’s tried to strike a conciliatory tone, praising the enthusiasm of the youth – who are by and large the backbone of the demonstrations.
FLASH: The Kenyan parliament has just ERUPTED IN FLAMES as protests against the $2.7 BILLION TAX HIKE turn violent. The hikes were spurred by Kenya’s latest IMF DEAL. As Harvard Prof. Robert Barro puts it, “THE IMF DOESN’T PUT OUT FIRES, IT STARTS THEM.”
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418.2K Views
But the increasingly violent confrontations with police on the streets of Nairobi, which have been intensifying since last week when two people died, are also the result of alleged abductions by security services. The AP reports:
The Kenya Law Society President Faith Odhiambo said Tuesday that 50 Kenyans, including her personal assistant, had been “abducted” by people believed to be police officers.
Some of those missing included those who were vocal in the demonstrations and were taken away from their homes, workplaces and public spaces ahead of Tuesday’s protests, according to civil society groups.
Initial reports say at least eight people have been killed, according to a Kenya national broadcaster cited AP. The Kenya Human Rights Commission has also confirmed police are “firing live rounds” at demonstrators.
Video reportedly from outside Kenya’s parliament
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witter.com/WarMonitors/status/1805572654671200601?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1805
Dozens more have been injured, and likely the casualty count will rise through the day and evening as the crisis shows no signs of abating.
Lawmakers have reportedly escaped the burning and occupied parliament building unscathed through a tunnel.
Protesters have filmed themselves occupying the parliament building, now emptied of lawmakers and staff…
Sadly all of this is part of a familiar and historic pattern in Africa. The so-called international community and powerful global/Western institutions like the International Monetary Fund (IMF) regularly induce governments to take on huge debts, and then begin to impose from abroad drastic societal reform measures on the population.
And in the process of billions being exchanged, corrupt local government figures line their own pockets while imposing stringent and very sudden measures on the lower class and impoverished citizens.
The following lines concerning the Kenya crisis seem like a scenario taken straight out of Confessions of an Economic Hit Man… “The stringent Eco Levy aims to enhance existing weaker and less effective waste and pollution control mechanisms, such as the Extended Producer Responsibility (EPR) regulations that Kenya embraced two years ago. The EPR is a comprehensive global framework designed to hold manufacturers accountable for the entire lifecycle of their plastic and electronic products.”
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0717 DOWN .0012
USA/ YEN 159.48 DOWN 0.221 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2687 UP .0005
USA/CAN DOLLAR: 1.3664 UP .0009 (CDN DOLLAR DOWN 9 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 13.10 PTS OR 0.44%
Hang Seng CLOSED UP 45.19 PTS OR 0.25%
AUSTRALIA CLOSED UP 1.28%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 45.19 PTS OR 0.25 %
/SHANGHAI CLOSED DOWN 13.10 PTS OR 0.44%
AUSTRALIA BOURSE CLOSED UP 1.28%
(Nikkei (Japan) CLOSED UP 368.50 PTS OR 0.95%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2333.00
silver:$29.56
USA dollar index early TUESDAY morning: 105.22 UP 12 BASIS POINTS FROM MONDAY’s CLOSE.
TUESDAY MORNING NUMBERS ENDS
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And now your closing TUESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.125% DOWN 2 in basis point(s) yield
JAPANESE BOND YIELD: +0.990% UP 2 AND 8/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.307 DOWN 3 in basis points yield
ITALIAN 10 YR BOND YIELD 3.926 DOWN 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.3965 DOWN 2 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR TUESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0699 DOWN 0.0032 OR 32 basis points
USA/Japan: 159.69 DOWN 0,0050 OR YEN IS UP 5 BASIS PTS
Great Britain 10 YR RATE 4.1060 UP 2 BASIS POINTS //
Canadian dollar DOWN .0010 OR 10 BASIS pts to 1.3667
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2629 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2901)
TURKISH LIRA: 32.96 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.990…
Your closing 10 yr US bond yield DOWN 1 in basis points from MONDAY at 4.243% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.376 DOWN 1 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.742 UP 1 BASIS PTS.
GOLD AT 11;30 AM 2325.90
SILVER AT 11;30: 29.17
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: TUESDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 47.83 PTS OR 0.53%
German Dax : CLOSED UP 162,06 PTS OR 0.89%
Paris CAC CLOSED UP 78.32 PTS OR 1.03 %
Spain IBEX CLOSED UP 139,80 OR 1.27%
Italian MIB: CLOSED UP 626.14 PTS OR 1.58% PTS
WTI Oil price 81.61 12EST/
Brent Oil: 85.90 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 87.78 ROUBLE UP 2 AND 22/100
GERMAN 10 YR BOND YIELD; +2.3965 DOWN 3 BASIS PTS.
UK 10 YR YIELD: 4.1060 UP 2 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0714 DOWN 0.0019 OR 19 BASIS POINTS
British Pound: 1.2686 UP 0.0005 OR 5 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.1020 UP 0 BASIS PTS//
JAPAN 10 YR YIELD: 0.990%
USA dollar vs Japanese Yen: 159.68 DOWN 0.021 YEN UP 2 BASIS PTS//
USA dollar vs Canadian dollar: 1.3659 DOWN 0001 //CDN dollar UP 1 BASIS PTS
West Texas intermediate oil: 80.80
Brent OIL: 84.91
USA 10 yr bond yield UP 12 BASIS pts to 4.249
USA 30 yr bond yield UP 1 BASIS PTS to 4.376%
USA 2 YR BOND: UP 2 PTS AT 4.742
USA dollar index: 105.27 UP 16 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32.93 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 88,25 UP 1 AND 25/100 roubles
GOLD 2,318.00 3:30 PM
SILVER: 28.89 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 299.05 PTS OR 0.076%
NASDAQ UP 226.51 PTS OR 0.76 %
VOLATILITY INDEX: 12.84 DOWN 0.49 PTS OR 3.68%
GLD: $214.56 DOWN 1.07 OR 1.07%
SLV/ $26.40 DOWN 0.60 OR 2.22%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
MAG7 Melts-Up Amid Macro Malaise; Bonds Slop, Bitcoin Pops, Black Gold Drops
TUESDAY, JUN 25, 2024 – 04:00 PM
A mixed day on the macro side, but that never stopped the melt-up in mega-cap tech…
Philly Fed Services jumped into expansion (to two year highs?), Chicago Fed National Activity Index surged, Case-Shiller home prices hit a new record high but appreciation slowed, Conference Board Expectations hovers near decade lows, Richmond Fed Manufacturing tumbled, Dallas Fed Services improved but remains in contraction…
But, overall, both ‘hard’ (21-month lows) and ‘soft’ data ended lower on the day…
Source: Bloomberg
Bonds didn’t care less – ending the day basically unchanged – but all now lower on the week (with the long-end outperforming)…
Source: Bloomberg
But stocks (well some of them) loved it… as the mega-cap tech names lifted Nasdaq to be the big outperformer. The Dow and Small Caps ended red on the day while the S&P managed gains…
After 3 straight days of outperformance, the equal-weighted S&P lagged the cap-weighted index today as the big names dominated once again…
Source: Bloomberg
AI-exposed stocks recovered back to AI-at-Risks on the week today…
Source: Bloomberg
…as NVDA ripped back after an 18% decline…
…lifting MAG7 stocks to Friday’s highs…
Source: Bloomberg
Tech outperformed and Energy was unchanged while all other sectors were red…
Source: Bloomberg
Goldman’s trading desk noted that overall activity levels are flat vs. the trailing 2 weeks with market volumes down -14% vs the 10dma
- Our floor tilts -4% better for sale, exclusively driven by LOs
- LOs are -27% better for sale with Tech supply once again a standout, ranking in the 93rd %-ile. Other pockets of supply include Comms Svcs, HCare, Cons Disc & Indust. Demand is modest across Fins & REITs
- HFs are basically paired buy vs. sell. Short ratio ticking up to 53%. We are seeing demand for Mats, Fins, Utes and Tech with most of the supply concentrated in Macro Products, while Energy, REITs and Cons Disc also tilt slightly for sale
The dollar bounced back to last Wednesday’s highs…
Source: Bloomberg
Bitcoin was bid aggressively despite some German govt moving bitcoin headlines. BTC bounced off $59k (close-ish to its 200DMA) back up to pre-Mt.Gox headline levels…
Source: Bloomberg
Gold traded back down to Friday’s lows…
Source: Bloomberg
Oil traded back into its own range of the last week…
Source: Bloomberg
Finally, some context, the US Macro Surprise Index is at its weakest since March 2019…
Source: Bloomberg
That looks more like a crash-landing than a ‘soft’ landing… but we know that’s not true because The Fed keeps telling us how well the economy is doing and the Biden admin keeps reminding Americans how lucky they are to have his economic policies…18
MORNING TRADING//
AFTERNOON TRADING///
II USA DATA
stagflation is the name of the game
(zerohedge)
US Home Prices Hit New Record High, But YoY Appreciation Slows…
TUESDAY, JUN 25, 2024 – 09:11 AM
Home prices in America’s 20 largest cities rose for the 14th straight month in April (according to the latest data from S&P CoreLogic – Case Shiller – data today), up 0.38% MoM (more than the expected 0.3%) leaving pricesz up 7.20% YoY (more than the 7.00% exp), but slightly slower than the 7.46% in March…
Source: Bloomberg
That is the first slowdown in the YoY price appreciation since last June!
All 20 of the major cities saw MoM price appreciation, with Boston and San Francisco leading…
Overall, US home prices reached a new record high in April(as median new home prices began to fall)…
Source: Bloomberg
Home prices continue to track Fed Reserves closely, but a turning point may come soon…
Source: Bloomberg
Given the smoothing and heavy lag in the Case-Shiller data, it’s hard to find a causal relationship between prices and mortgage rates…
Source: Bloomberg
…but with rates remaining above 7%, it seems hard to believe prices can continue their advance.
III USA ECONOMIC COMMENTARIES
Retirement Nightmare! Hordes Of Older Americans May Need To Go Back To Work Just To Survive
TUESDAY, JUN 25, 2024 – 11:20 AM
Authored by Michael Snyder via The Economic Collapse blog,
The Social Security program was instituted to help elderly Americans thrive during their retirement years. Unfortunately, millions upon millions of retired Americans are finding that their monthly Social Security payments are simply not enough as the cost of living spirals out of control.
One recent survey found that a whopping 85 percent of U.S. adults now consider inflation to be one of the most important political issues that we are facing, and seniors are being hit particularly hard. In fact, a different survey that was just conducted by the Motley Fool discovered that 44 percent of retired Americans are thinking of going back to work because they need more money to survive…
A growing number of retired Americans are considering returning to work as they continue to battle chronic inflation, according to a new survey published by the Motley Fool.
About 44% of respondents said they are thinking about looking for work because their Social Security benefits have not adequately kept pace with high inflation.
Needless to say, trying to go back to work in your seventies, eighties or nineties is not an easy thing to do.
But if you have to choose between going back to work or not eating three meals a day, I think that the choice is easy.
Today, the average Social Security payment is less than half of what the average retired American spends each month…
The average monthly Social Security payment in 2024 is $1,907, according to the Social Security Administration. But that is just a fraction of the $4,818 that Americans age 65 and older reported spending in 2022.
Of course the current economic environment has been very difficult for all of us.
If you can believe it, compared to three years ago the typical household in this country is spending an extra $1,069 per month just to maintain the same standard of living…
The typical U.S. household needed to pay $227 more a month in March to purchase the same goods and services it did one year ago because of still-high inflation. Americans are paying on average $784 more each month compared with the same time two years ago and $1,069 more compared with three years ago.
Sadly, the cost of living is only going to get worse because our leaders just can’t help themselves.
At this point, our politicians in Washington have borrowed so much money that we are spending more than a trillion dollars a year just in interest on the national debt.
In fact, we now spend more on interest on the national debt than we do on national defense.
But instead of slowing down, our politicians just continue to borrow and spend trillions upon trillions of dollars.
So inflation is not going away any time soon.
Meanwhile, the number of home foreclosures was up once again last month…
Home foreclosures rose again in May as Americans continue to grapple with the ongoing cost-of-living crisis.
That is according to a new report published by real estate data provider ATTOM, which found that there were 32,621 properties in May with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions.
That certainly isn’t a good sign.
Needless to say, there have been lots and lots of troubling signs for the economy lately…
In addition to the conflicting rise in unemployment, other signs of deterioration include stagnant retail sales, a slowing of consumer spending, weak industrial production and manufacturing orders, increasing consumer debt, depressed new housing starts, falling annual earnings of full-time employees, and rising commodity prices.
To many of those at the bottom of the economic food chain, it feels like the economy has already collapsed.
Today, 20 percent of the entire population of California is living in poverty, and massive homeless encampments have sprouted all over the state.
Unfortunately, many more Americans will soon be joining the ranks of the poor because the economy is rapidly moving in the wrong direction.
The outlook is so bleak that even Walmart is closing down stores…
Walmart has decided to close three more stores across the US, bringing this year’s total number of failed locations to 11.
The retail giant said these three stores – located in Georgia and Colorado – underperformed financially.
And we just learned that more Pizza Hut locations are being permanently shuttered…
Pizza Hut shuttered 15 locations in Indiana on Friday while more than 120 additional locations are in danger of closing, according to a report from The Times of Northwest Indiana.
The latest closures come after a long-running dispute between the chain and a franchisee. EYM Group, which owns and operates 142 Pizza Hut locations in Illinois, Indiana, Georgia, South Carolina and Wisconsin, was accused of defaulting on millions of dollars in payments owed to Pizza Hut by a June deadline.
A new economic crisis has already begun, but it is going to get so much worse during the months and years that are ahead of us.
As we approach the end of this calendar year, we will want to keep a very close eye on the global financial system.
There have been a number of ominous signs lately that should definitely alarm all of us. Most notably, the fifth largest bank in Japan just announced that it will be selling off approximately 63 billion dollars in government bonds…
But if that was the first, and still distant, sign that something was very wrong at one of Japan’s biggest banks (Norinchukin is Japan’s 5th largest bank with $840 billion in assets) today the proverbial canary stepped on a neutron bomb inside the Japanese coalmine, because according to Nikkei, Norinchukin Bank “will sell more than 10 trillion yen ($63 billion) of its holdings of U.S. and European government bonds during the year ending March 2025 as it aims to stem its losses from bets on low-yield foreign bonds, a main cause of its deteriorating balance sheet, and lower the risks associated with holding foreign government bonds.”
See, what’s happened in Japan is not that different from what is happening in the US, where as the FDIC keeps reminding us quarter after quarter, US banks are still sitting on over half a trillion dollars in unrealized losses, as a result of the huge jump in interest rates which has blown up the banks’ long-duration fixed income holdings, sending them trading far below par and forcing banks (and the Fed, see BTFP) to come up with creative ways of shoving these massive losses under the rug.
Major banks all over the world are sitting on gigantic mountains of unrealized losses.
If things start going wrong, it won’t take much to induce panic.
And once panic starts, it won’t take much to spark a financial avalanche.
We are in far more trouble than most people realize, and the dark clouds on the horizon are getting closer with each passing day.
* * *
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
END
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
end
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON OR NEWT GINGRICH
END
SWAMP NEWS
KING REPORT
| The King Report June 24, 2024 Issue 7270 | Independent View of the News |
| Treasury Secretary Janet L. Yellen to Announce New Housing Efforts as Part of Biden Administration Push to Lower Housing Costs The efforts Secretary Yellen is announcing include: A new Treasury program administered by the CDFI Fund that will provide an additional $100 million over the next three years to support the financing of affordable housing; An effort to provide greater interest rate predictability to state and local housing finance agencies borrowing from the Federal Financing Bank to support new housing development; A call to action for the Federal Home Loan Banks to increase their spending on housing programs; A new “How-To Guide” to support state and local governments in using recovery funds provided by Treasury to construct housing; and An update to the Capital Magnet Fund to provide greater flexibility to CDFIs and non-profits that finance affordable housing… (Totally worthless, symbolic scheme) https://home.treasury.gov/news/press-releases/jy2424 Is Yellen going to force BlackRock and other private equity funds plus hedge funds to sell their houses? The rotational and/or relative value buying of laggards while selling Mag 7 and related stocks intensified on Monday. Mag 7 and tech, led (this time on the downside) by Nvidia, declined smartly. The DJIA and DJTA rallied sharply. Nvidia has declined 16% from its all-time high over the past three sessions. ESUs traded sideways and modestly higher from the Nikkei opening until they broke lower after 23:00 ET. After hitting a daily low of 5519.75 at 21:19 ET, ESUs rallied steadily until they hit 5545.75 at 4:26 ET. Persistent liquidation took ESUs to 5526.00 at 9:41 ET. Conditioned buyers were ecstatic with the down NYSE opening. The usual suspects frantically bought ESUs, driving them to a daily high of 5558.50 at 10:09 ET. Alas, Nvidia and general Mag 7 liquidation overwhelmed the trained seals. ESUs sank to 5535.50 at 10:49 ET. But the Monday Rally is a divine right; so, the usual suspects again aggressively bought. Some bought as part of the manipulation for the European close. ESUs jumped to 5552.50 at 11:21 ET. Sellers reappeared; ESU traded sideways until they broke lower at 12:45 ET. A sharp decline took ESUs to 5520.50 at 14:17 ET. Buying for the expected late rally pushed ESUs to 5535.00 at 15:01 ET. But liquidation of trading sardines was the order for the day. ESUs sank to a new daily low of 5512.75 at 16:00 ET. A belated late manipulation, to boost ‘the marks,’ failed miserably. Positive aspects of previous session The DJIA and DJTA rallied sharply on rotational/relative value buying. USUs rallied modestly but action was very lame Negative aspects of previous session Fangs got hammered, led by Nvidia (-6.7% at low, 15:59 ET). Ambiguous aspects of previous session Commodities declined; good (lower inflation) or bad (recession angst) news? USUs were -1/32 at the NYSE close First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5462.40 Previous session S&P 500 Index High/Low: 5490.66, 5447.59 (California) Newest Early Jobs Revision Shows No Net Job Growth During 2023 Based on the most recent release of the early benchmarks, payroll jobs declined by 32,000 from September 2023 through December 2023. On the contrary, the preliminary monthly reports showed a solid increase in job growth (+117,000 jobs) at the time. With the fourth quarter revision, calendar year 2023 saw essentially no net job growth (+9,000 jobs overall)… (CA utilizing Bidenomics!) https://lao.ca.gov/LAOEconTax/Article/Detail/783 @HenMazzig: The video footage from the Palestine protest outside of a synagogue in LA are shocking. Mob of protestors using violence against Jews in broad daylight. https://x.com/HenMazzig/status/1805024439785971878 @politicalelle: These are all Biden voters, so the media and the Biden Admin don’t care. @mrddmia: Biden DOJ politicized and weaponized federal FACE Act to imprison Christians praying at abortion clinics. Yet AG Merrick Garland, Deputy AG Lisa Monaco, Acting Associate AG Benjamin Mizer, and Assistant AG for Civil Rights Kristen Clarke won’t do anything about attacks on Jews? GOP Sen. @tedcruz: Utterly unacceptable. Where’s Biden? Newsom? DOJ? Anyone violently blocking Jews from attending synagogue should be arrested & prosecuted NOW. GOP @RepRichHudson: It’s outrageous that Democrat politicians in Los Angeles refused to do anything to stop this antisemitic violence and keep Jews safe from these mobs. This should not be happening in America. (Dem politicians have been mum on this.) Today – Nvidia hit an all-time high of 140.76 on 6/20/24. Its low yesterday was 118.04, a loss of 16.14%, and three straight down days. There is an extremely high probability that at some point today, especially if NVDA gets to -20% from its high, whales will try to protect their massive NVDA positions by halting the downside momentum and changing trader psychology back to a least neutral. If Nvidia does rally, the unknown is if the general market will follow or if the DJIA and DJTA will decline on a reversal of the past few sessions rotational/relative value buying. NQUs are +19.00; ESUs are +1.75; USUs are +7/32; and gold is -2.40 at 21:15 ET. Expected econ data: May Chicago Fed National Activity Index -0.25; April FHFA House Price Index 0.3% m/m; April S&P CoreLogic 20-city house prices 0.3% m/m 7 7.0% y/y; June Conference Board Consumer Confidence 100.0; June Richmond Fed Mfg. Index -3; Fed Gov. Bowman 7 & 14:10 ET, Fed Gov. Cook 12:00 ET on Economic Outlook S&P Index 50-day MA: 5237; 100-day MA: 5171; 150-day MA: 5016; 200-day MA: 4846 DJIA 50-day MA: 38,765; 100-day MA: 38,830; 150-day MA: 38,198; 200-day MA: 37,106 (Green is positive slope; Red is negative slope) S&P 500 Index (5447.86 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 4750.24 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5241.78 triggers a sell signal Daily: Trender and MACD are positive – a close below 5395.26 triggers a sell signal Hourly: Trender and MACD are negative – a close above 5488.22 triggers a buy signal Joe and Jill Biden have been using their Delaware house for fast cash – refinancing 20 times with loans totaling $4.2M since buying the $350k home (Who is paying the loans?) https://www.dailymail.co.uk/news/article-13547165/Joe-Jill-Biden-Wilmington-Delaware-home-refinance-mortgage.html Trump says he has selected his VP candidate. Ben Carson is the rumored choice. @RyanAFournier: Trump said he is willing to undergo a drug test prior to the debate if Biden does too. CNN pulls plug on Trump spokesperson live on air — just days before liberal network set to host first presidential debate – The spokeswoman then noted the debate stage would likely be a “hostile environment” for her boss – and accused CNN’s debate moderators, co-hosts Jake Tapper and Dana Bash, of biased coverage of him in the past… Leavitt said the on-air snub proves that the presumptive GOP nominee “will not be treated fairly” in the upcoming debate… https://trib.al/ttKzqFI (No one has thinner skin that the regime media, even though they bash others relentlessly!) Trump camp hits back after CNN host cuts feed, slams debate moderator’s ‘history of anti-Trump lies’ – CNN has already set the stage for an unfair debate… by selecting a debate moderator with a “history of anti-Trump lies” and abruptly ending an interview with the campaign’s spokeswoman… “CNN cutting off my microphone for bringing up a debate moderator’s history of anti-Trump lies just proves our point that President Trump will not be treated fairly in Thursday’s debate. Yet President Trump is still willing to go into this 3-1 fight to bring his winning message to the American people, and he will win,” Trump national campaign spokesperson Karoline Leavitt told Fox News Digital on Monday morning. Leavitt was abruptly cut off during an interview with CNN host Kasie Hunt on Monday morning, after criticizing CNN hosts Jake Tapper and Dana Bash, who will moderate Thursday’s debate between Trump and Biden… https://www.foxnews.com/politics/trump-camp-hits-back-after-cnn-host-cuts-feed-slams-debate-moderators-history-anti-trump-lies @FrancisBrennan: FLASHBACK; On Oct. 22, 2020, CNN’s Jake Tapper declared that the growing allegations made against Hunter Biden following the NY Post’s reporting on Hunter’s laptop were “too disgusting” to repeat on-air and “wildly unhinged.” https://x.com/FrancisBrennan/status/1805334046513184799 Elite university’s ‘disturbing’ Hamas connections probed by lawmakers – FOX Northwestern has a satellite campus in Qatar, which includes a partnership with Al Jazeera that allows its students “to engage regularly with leading media industry professionals,” according to Northwestern’s website… https://www.qatar.northwestern.edu/about/partnerships.html Maricopa County (AZ) temp worker arrested for alleged theft at election center The temporary worker was on probation for a prior felony “On Friday morning, when completing a daily inventory, Maricopa County elections workers identified that an item was taken from the Ballot Tabulation Center on Thursday evening, and staff took immediate action to investigate the matter and contacted the Maricopa County Sheriff’s Office,” the statement continued. “The stolen item has been recovered but to ensure the integrity of Maricopa County Elections, election workers are reprogramming and re-conducting logic and accuracy testing of all equipment.”… https://justthenews.com/politics-policy/elections/maricopa-county-temp-worker-arrested-theft-election-center @DefiyantlyFree: Obama got 69 million votes and won 873 counties. Trump got 75 million votes and won 2.497 counties. Joe Biden got 81 million votes but only won 477 (actually 538) counties. Now do you know why they must put every single person who questions an election in prison? Julian Assange reaches plea deal with US that would avoid jail time The plea deal would seek a 62-month sentence, which would count as time served because he was imprisoned in London while fighting an extradition to the U.S. He would then be allowed to return home to Australia… https://justthenews.com/government/courts-law/julian-assange-reaches-plea-deal-us-would-avoid-jail-time | |
GREG HUNTER
SEE YOU ON WEDNESDAY
harveyorganblog.com 
