Global Macro / Markets / Investing:
- Scientists Warn of an ‘Imminent’ Stratospheric Warming Event Around The North Pole – ScienceAlert
- Norway to increase carbon tax from $95/tonne to $240/tonne – Upstream
- The next big risk: Three Wall Street leaders reveal what worries them – Bloomberg
- Chinese start-up leaks 400GB of scraped data exposing over 200 million Facebook, Instagram and LinkedIn users – Caltech
- AI, quantum computers and autonomous vehicles are among the fastest-growing areas of technology, – Bloomberg
Americas:
- Twitter suspends 70,000 accounts sharing QAnon content – The Guardian
- COVID-19 job losses will worsen L.A. homelessness by 2023, new report says – LATimes
- Deutsche Bank severs ties with Donald Trump – The Guardian
- Manatee found in Florida river with “Trump” scrawled on its back – WaPo
- Economist Stephen Roach says the US economy’s V-shaped recovery is ‘in tatters’ and the dollar could crash 20% this year – BusinessInsider
Europe/Middle East:
- Leading human rights group calls Israel an ‘apartheid’ state – APNews
- Families ‘struggling to pay for funerals’ – BBC
- Every time Boris Johnson takes a step forward in his handling of the coronavirus, he seemingly counters with an own goal – Bloomberg
- Italian Government On Verge Of Collapse Amid Battle Over EU COVID Relief – ZH
- Europeans don’t like tech’s Trump ban – Bloomberg
Asia:
- China plans further Hong Kong crackdown after mass arrest by delaying and changing rules for elections – Reuters
- National security law: Hong Kong leader Carrie Lam accuses the West of hypocrisy, defends mass opposition arrests – SCMP
- Japan is scrambling to avoid a nationwide blackout amid a severe cold snap and tight supplies of gas. – NikkeiAsia
Trans-Tasman:
- Australia not among 50 countries vowing to protect 30 per cent of land and sea by 2030 – ABC
- Malcolm Turnbull: ‘Freedom of speech must never mean freedom from responsibility’ – Crikey
- Michael McCormack tells jobless to ‘turn off Netflix’, go bush for work – News.com.au
- Charity Rorts: how private schools and big business rob from the poor to give to the rich – Michael West
- Man charged following alleged abuse of McDonald’s worker over QR code check-in requirement – SMH
- Victoria’s COVID-19 travel permit system goes live as more stories of forced hotel quarantine emerge – ABC
- WA Government to review BHP’s environmental licences in dusty Pilbara town of Newman – ABC
Interesting, etc.
- For The First Time, Astronomers May Have Heard The Background ‘Hum’ of The Universe – ScienceAlert
- FM radio signal found coming from Jupiter moon – WGNTV
Latest posts by Chris Becker (see all)
- PBOC strengthens yuan as China goes into lockdown - January 13, 2021
- Macro Morning - January 13, 2021
- Daily iron ore price update (restocking blues) - January 13, 2021
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Manhattan’s long term decline …
Stunning Brick & Mortar Meltdown, Manhattan Style: The Collapse of Retail Rents Before & Now During the Pandemic … Wolfstreet
https://wolfstreet.com/2021/01/11/brick-mortar-retail-meltdown-in-stunning-manhattan-style-years-before-during-the-pandemic/
What an Ugly Year for Manhattan Luxury Condos & Co-ops, But the Market Came Unglued in 2016 … Wolfstreet
https://wolfstreet.com/2020/12/25/what-an-ugly-year-for-manhattan-luxury-condo-co-op-market-after-coming-unglued-in-2016/
Bond yield trends …
Stocks rise and bond yields march higher, as investors focus on economic recovery, instead of Trump turmoil and COVID crisis … Business Insider
https://www.businessinsider.com.au/stock-market-us-futures-bond-yields-boosted-by-economic-optimism-2021-1?r=US&IR=T
Federal Reserve speakers have signalled they could be less likely to add to any stimulus packages and that the rise in Treasury yields is a welcome sign the central bank’s policies are working.
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Euro zone bond yields rise on U.S. reflation trade … Nasdaq com
https://www.nasdaq.com/articles/euro-zone-bond-yields-rise-on-u.s.-reflation-trade-2021-01-12
Rising Treasury Yields Flash a Warning Sign … OPINION … Mohamed A. El-Erian … Bloomberg
https://www.bloombergquint.com/gadfly/rising-u-s-treasury-yields-flash-a-warning-sign
Baltic Dry Index Extends Rally Surging 10% … Reuters / gcaptain
https://gcaptain.com/baltic-dry-index-extends-rally-surging-10/
New World Record Set For Shipping Rates: $350,000 Per Day … Zerohedge
https://www.zerohedge.com/commodities/new-world-record-set-shipping-rates-350000-day
https://pandapawdragonclaw.blog/2021/01/11/debt-repayment-issues-in-highly-indebted-bri-countries-risks-and-opportunities-in-the-new-year/
Debt repayment issues in highly-indebted BRI countries: risks and opportunities in the new year
“But there are a few outliers of countries that are particularly exposed to China: Tonga, Vanuatu, Djibouti, Congo Republic, Cambodia, Samoa, Lao PDR, Maldives, Angola, and Comoros will have to pay 25% to 75% of their total debt service to China between 2021 to 2024. “
https://www.ibtimes.sg/china-ccp-nationalize-jack-mas-alibaba-ant-group-54444?utm_campaign=/china-ccp-nationalize-jack-mas-alibaba-ant-group-54444
The CCP are just less subtle in destroying someone than the left in the western world.
Its nipping in the bud a factor which has sovereign risk, a bad thing, rather than go through what Russia had too with the Chicago boys?
I thought you did not like the Chicago School?
What gives you the idea that I’m pro anything that came out of the Milton camp.
ANT Group’s foray into lending is the last straw. I expect Jack Ma to die from a mishap while climbing a wall to take a selfie, and then his will says everything he owns will be donated to a charity with the son of Xi Jingping as the sole director.
All about private label introducing systemic risk which ultimately becomes sovereign risk, one might ask if the Chinese learned anything from the U.S. induced GFC.
Then again I seem to remember back in Newtons days as Exchequer what the penalties were for messing with sovereign related issues, could argue there is historical precedent that transcends ideological dog whistles.
Well, it’s warlords vs emperors, right?
Who bets this will be a “get woke go broke” situation?
https://www.news.com.au/finance/business/retail/no-harm-in-changing-the-name-coon-cheese-owner-explains-the-meaning-behind-name-change/news-story/f27e1e17f3b04759720761479c9b6050
That’s a very cheezy line that you said there..
It’s a remarkably tasteless cheese…if it wasn’t yellow you might not even know.