On Wire

Breaking news, updates, and reports on current events.

The biggest pandemic in decades ends and one week later the biggest riots in decades occur?!

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by sjryan Sure, this isn’t orchestrated, it’s just coincidence that we’ve transitioned smoothly and seamlessly from lockdowns to curfews. Do people really think Impeachment, COVID, and race riots all happened back-to-back at random? Lol — DC_Draino (@DC_Draino) June 4, 2020 https://twitter.com/FreeIllinoisNow/status/1268503935062597633     AG Bill Barr: We have evidence Antifa instigated violent activity As you … Read more

WINNING?

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#WINNING pic.twitter.com/nLQrIDVclp — Danielle DiMartino Booth (@DiMartinoBooth) June 5, 2020 #Missouri #COVID19 #SARSCoV2 #Pandemic pic.twitter.com/2M7j3qdEbC — TraderStef (@TraderStef) June 5, 2020 Today's data indicate China’s purchases of US goods remain well under 50% of prorated, year-to-date targets of Trump's Phase One dealhttps://t.co/L2Be1ozw68 — Chad P. Bown (@ChadBown) June 4, 2020  

$900 Trillion derivatives market… will $4 Trillion be enough to bail it out?

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by Organic_Pineapple Unlimited FED printing props up the market. What if unlimited becomes impossible ? No one seems to care about the derivatives market for now. Its notional value is somewhere between $600 Trillion and $1500 Trillion. The FED has injected approximately $4 Trillion so far. That seems huge but it is very small compared to the derivatives horror … Read more

Drukenmiller said watch out when liquidity reverses. Put/call ratio suggests that easy gains are most likely behind us. Hedge funds fear another reckoning for global stocks.

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DRUKENMILLER SAID WATCH OUT WHEN LIQUIDITY REVERSES pic.twitter.com/683QyQncWw — Win Smart, CFA (@WinfieldSmart) June 5, 2020 Another #deflationary bust coming soon! This is ETF for VIX (SP500). 2½ yrs of divergence is not solved in 1-2 months! It will soar. Setup is massive and we are only in eye of the storm = a bounce. … Read more

Central Banks have exacerbated the divergence between equities and fundamentals. Cheerleader of wealth inequality now wondering why the system he exploited still exploits others.

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It's the liquidity stupid! Central Banks have exacerbated the divergence between equities and fundamentals. The latest rebound in equities was entirely due to P/E expansion. S&P 500 P/E multiple is trading in tandem w/Fed’s balance sheet. pic.twitter.com/DaerxoYvzI — Holger Zschaepitz (@Schuldensuehner) June 5, 2020 Cheerleader of wealth inequality now wondering why the system he exploited … Read more

Beijing squeezes, and HSBC knows where it makes most of its money. Standard Chartered, another UK bank, did the same.

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By Nick Corbishley, for WOLF STREET: Global banking behemoth HSBC threw its full weight behind China’s imposition of security legislation on Hong Kong, arguing that the new law will help bring much-needed political stability and economic growth and development to the city. The bank’s kowtowing to Beijing is the inevitable culmination of the UK-based lender’s multiyear Asian … Read more

Italian trader loses his ‘entire life savings’ on one insanely risky position

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https://www.marketwatch.com/story/italian-trader-loses-his-entire-life-savings-on-one-insanely-risky-position-2020-06-03 This year’s been a real grind for Luckin Coffee LK, investors. At one point, Lone Capital held $367 million in stock to lead all hedge funds covered by Insider Monkey. DSAM Partners had $146.2 million worth. Melvin Capital, Renaissance Tech and Tybourne Capital were also bullish on the company, according to Yahoo Finance. So … Read more

RUSH: The best way to understand what’s happening in America today is to go out and learn about the Chinese Cultural Revolution.

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via rushlimbaugh RUSH: I’ve got a piece I just want to give you a heads-up on at The Federalist. It’s by John Daniel Davidson. “The Struggle Sessions Are Here, And They’re Not Going Away.” And the best way to understand what’s happening in America today is to go out and learn about the Chinese Cultural Revolution. That … Read more

Almost 2 Million File INITIAL Unemployment Claims This Week While MILLIONS Still Wait To Receive Their Very First Check

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(by Half Dollar) The Weekly Unemployment Insurance Claims Report has just been released from the Department of Labor. Almost 2 million more people filed initial unemployment claims over the last week: In the week ending May 30, the advance figure for seasonally adjusted initial claims was 1,877,000, a decrease of 249,000 from the previous week’s revised level. … Read more