On Wire

Breaking news, updates, and reports on current events.

Today’s trade news is anything but bullish – it actually shows progress declined by 5% since last month

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today's trade news is anything but bullish – it actually shows progress declined by 5% since last month pic.twitter.com/z8VMt06crj — Alastair (@StockBoardAsset) June 26, 2019 June 2019: "US-China deal is 90% complete" May 2019: "US-China deal is 95% complete" This deal looks like my kids' homework. pic.twitter.com/ykB7s5onEA — Daniel Lacalle (@dlacalle_IA) June 26, 2019

CHART OF THE DAY: Forget Trade Deals… What If China’s Economy Keeps Slowing?

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As you can see in today’s Chart of The Day (slide 93 in the Q2 Macro Themesdeck), China’s Secondary Industries (Heavy Equipment, Construction, pseudo “empty cities”, etc.) slowed to 0% growth, TWICE, in the last decade: During the Great Financial Crisis and During the Deflationary Slowing of 2016 After the 2nd #ChinaSlowing to 0% growth (2016), the PBOC provided the biggest monetary … Read more

Justice Department Investigates Chicken Industry: Retailers, restaurants say producers including Tyson, Pilgrim’s colluded to boost prices; meat companies deny claims

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via WSJ:   The U.S. Justice Department has launched a criminal investigation into allegations that top poultry processors colluded to keep prices artificially high. The probe came to light after federal attorneys sought to intervene in a long-running lawsuit in which customers accused chicken processors, including Tyson Foods Inc., Pilgrim’s Pride Corp., Sanderson Farms Inc. … Read more

100 year t-bonds the new norm? 2 years ago Austria sold 100-year t-bond with a 2.1% yield. Now it’s selling another century bond, but with a 1.2% yield.

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by JealousEntrepreneur   After Argentinia in June 2017 sold it’s first 100 year bonds, Austria jumped on the train in September 2017 and sold them successfully for a coupon of 2.1%. Now they want to repeat it with a coupon of 1.2%. ​ If you wanted to buy any of those 2.1% 2117 Austria bonds right … Read more

Beyond Meat’s current valuation of $9 billion is equivalent to $143 per Beyond Burger patty sold last year.

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by markyu007   The company sold 15.2 million pounds of food last year, equivalent to 61.0 million 4-ounce patties, the weight of the Beyond Burger sold in supermarkets. That puts the company’s current market capitalization at the equivalent of $143 per Beyond Burger patty sold last year. Analysts on average expect Beyond Meat’s revenue to … Read more

Recovering Perma-Bear At A Crossroad

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by Seth Levine Hello, my name is Seth and I’m a recovering perma-bear. (Hi Seth.) It’s true that I used to think that doom was inevitably just another quarter or two away. I was hyper-aware of the business cycle and the encroachment of government into the free markets. Thus, I concluded that growth would end … Read more

Financial Time Bombs Lurking Everywhere: After Massive Growth, Natixis H2O Funds Hemorrhaging

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Between 2017 and the end of April, H2O’s assets doubled to $37.6 billion, according to an investor letter seen by Bloomberg………After almost a decade of near-constant inflows, clients last week started to yank money from some of its funds over concerns about illiquid holdings tied to a controversial German businessman. The crisis worsened on Monday, … Read more

In The Future, Everyone Will Be Hitler For 15 Minutes. And The Future Is Now

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Leaked Google Doc Describes Shapiro, Peterson, PragerU As ‘Nazis Using The Dog Whistles.’ As James Taranto memorably wrote, “The thing we adore about these dog-whistle kerfuffles is that the people who react to the whistle always assume it’s intended for somebody else. The whole point of the metaphor is that if you can hear the whistle, … Read more

Judicial Watch Sues CIA for Inspector General’s Report on Mena, Arkansas, Airport Drug, Arms Smuggling Allegations

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(Washington, DC) — Judicial Watch announced today it filed a Freedom of Information Act (FOIA) lawsuit against the CIA seeking the CIA Inspector General’s November 1996 report related to a drug-running, arms smuggling and intelligence operation involving Mena Intermountain Municipal Airport in Arkansas. The airfield in Mena was alleged to have been used in the … Read more

Market Implications For Removing Fed Chair Powell

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by Michael Lebowitz John Kelly – White House Chief of Staff James Mattis – Secretary of Defense Jeff Sessions – Attorney General Rex Tillerson – Secretary of State Gary Cohn – Chief Economic Advisor Steve Bannon – White House Chief Strategist Anthony Scaramucci – White House Communications Director Reince Priebus – White House Chief of … Read more

YouTube Releases Official Statement on Twitter Assuring They Have NO Bias – Gets Hit With Massive Backlash

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We've had a lot of questions today…clarifying, we apply our policies fairly and without political bias. All creators are held to the same standard. — Updates From YouTube (@UpdatesFromYT) June 26, 2019 http://archive.is/tT5KS VIDEO: Google Reacts to Project Veritas Exposé. “Look, we may be hypocrites and liars. But we have all the power. No matter what gets … Read more