Grassroots

COVID-19, Moderna Therapeutics mRNA Vaccine, and Crichton

Angry Bear -

I understood how some combinations of drugs work in attacking Covid-19 with one drug acting as an ionophore allowing another drug to enter a cell and attach to Covid RNA stopping its replication. I found this nice chart on National Geographic offering up an educational semi -medical and microbiologist depiction of how Moderna’s new vaccine […]

The Combination of Things

Angry Bear -

What about all the forest fires in the West? The most proximate cause of these fires is high temperatures along with associated lightning and high winds; both of which, directly or indirectly, can easily ignite a fire in tinder dry forests. Beyond beyond being dry, many western forest are far from being healthy. There are […]

Real retail sales gains join industrial production in sharp deceleration

Angry Bear -

Real retail sales gains join industrial production in sharp deceleration Two days ago we saw that gains in industrial production had decelerated sharply in August. This morning we saw the same thing with real retail sales, one of my favorite indicators. Nominal retail sales were up +0.6% in August. Meanwhile, July’s reading was revised downward […]

Jones v USPS

Angry Bear -

In Jones v USPS, the Postal Service provided weekly service performance data since the beginning of the year. This is the most complete picture of on-time performance that we’ve seen since the mail delays became an issue earlier this summer. The data set is discussed in this post. There was also a hearing today in the Jones case. We hope to […]

The Fed Announces New Bank Stress Tests: Will Look at What Would Happen if a Major Counterparty Defaulted

Wall Street On Parade -

The Fed Announces New Bank Stress Tests: Will Look at What Would Happen if a Major Counterparty Defaulted

By Pam Martens and Russ Martens: September 17, 2020 ~ At the time the Fed released the results of its bank stress tests in June, it announced that because of the pandemic and unprecedented economic downturn, it would require additional stress testing of the biggest banks later this year. This afternoon, the Fed released those plans. Among the various hypothetical scenarios that the banks will have to perform against, 13 of the banks with significant trading operations will have to consider what would happen if a major counterparty blew up. The banks that will have to submit outcomes under this scenario include: Bank of America, Bank of New York Mellon, Barclays US, Citigroup, Credit Suisse, Deutsche Bank USA, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, State Street, UBS, and Wells Fargo. The Fed will release bank-specific results before the end of the year. All 34 banks will face two hypothetical … Continue reading →

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Industrial production improves in August, but with sharp deceleration

Angry Bear -

Industrial production improves in August, but with sharp deceleration If the jobs report is the Queen of Coincident Indicators, industrial production is the King. It, more than any other metric, is found at the turning points where recessions both begin and end. This morning’s report of industrial production for August shows that the recovery from […]

Nasdaq and Big Tech Tank as Fed Chair Powell Speaks at His Press Conference

Wall Street On Parade -

Nasdaq and Big Tech Tank as Fed Chair Powell Speaks at His Press Conference

By Pam Martens and Russ Martens: September 17, 2020 ~ Nasdaq and its biggest stock components stomped their feet and gave the Fed Chairman a big thumbs down for his remarks at his press conference yesterday. As Fed Chairman Jerome (Jay) Powell began to speak at the press conference that commenced at 2:30 p.m. yesterday, the Nasdaq Composite stood at 11,204.36. By the time Powell stopped speaking at around 3:30 p.m., the Nasdaq stood at 11,066.15, down 138 points from an hour earlier. After a failed attempt to rally, the Nasdaq slumped to the closing bell, ending the day just 4 points from its low of the day, closing at 11,050.47. (See chart above.) As of 7:20 a.m. this morning, Nasdaq futures were suggesting a further big decline at the open. Big tech names led the decline in the Nasdaq yesterday. Companies like Apple, Amazon, Microsoft and Netflix depend on … Continue reading →

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