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COVID Relief Showers States With 600% Of Lost Tax Revs, Turning Rescue Into Stimulus

Joe Biden is giving so much money to states as part of the $1.9 trillion stimulus package that they're set to receive approximately six times more money than estimated tax revenue shortfalls across the...
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Senate Lowers Cutoff For Covid Stimulus Checks To $80,000

Senate Democrats and Joe Biden struck a last minute deal over Biden's $1.9 trillion pandemic relief bill, choosing to keep federal unemployment benefit payments at $400 per week but phase out the measure's $1,400...

Pioneer Of Inflation Targeting Adds Asset Prices To Its Framework, While The Fed Adds More Fuel

Submitted by Joseph Carson, former chief economist at AllianceBernstein Starting March 1, The Reserve Bank of New Zealand (RBNZ) will consider the impact on housing prices when it debates monetary policy decisions. In doing...

KeystoneXL Pipeline Taps Lobbying Firm Co-Founded By White House Adviser

The Canadian-based company whose Keystone XL pipeline project was royally screwed by President Biden has hired a lobbying firm founded by White House adviser Steve Ricchetti and his brother Jeff Ricchetti, according to Bloomberg...

Xi Jinping Calls Out US As “Biggest Threat” To China's Development & Security

China is currently signaling the world that it has mapped out its post-COVID ascent, but crucially it is now openly naming the United States as its biggest global obstacle.  Though Beijing and Washington now...

Will Powell Unveil Operation Twist 3.0 Tomorrow?

There has been spreading chatter that during Jerome Powell’s upcoming appearance at a Wall Street Journal virtual event on Thursday at noon, the Fed Chair may unveil changes to Fed bond buying and potentially...

“Space Hurricane” Spotted Above North Pole, Study Finds  

For the first time, a team of researchers from China, the US, Norway, and the UK, have spotted an eye-catching phenomenon above the North Pole, in what they're calling a "space hurricane."  The new...

D.C. Police Issue Emergency Alert On “Possible” Militia Plot To Breach Capitol Tomorrow

Here we go again with yet more vague "threats" by nebulous militant right-wing groups targeting the Capitol which will no doubt be met with an additional mass increase in security measures (and budgets no doubt)...

Kass: The Bull Market In Complacency & “First-Level Thinking” Is Back

Authored by Doug Kass via Seabreeze Partners, By following the path of least resistance and opting for political expedience and untested monetary and fiscal policies - economic and market risks are now heightened At...

Daytona Beach International Airport Cleared Of 'Potential Bomb Threat'

Update ( 1119 ET): Law enforcement has cleared Daytona Beach International Airport (DAB) from a "potential threat" according to local law enforcement. The airport will soon begin normal operations.  Minutes ago, DAB tweeted:  "The airport terminal...

Oil Inventories Soar Most Ever; Gasoline Stocks Drained Most Since 1990

Oil prices surged back higher overnight after a brief dip on the API-reported surprise crude build (and massive product draws), as hopes that OPEC+ won't hike output too much prevail. The widespread view among the Organization of...

5Y Treasury Almost 0.75% Sending “Warning #2” To Stocks

Just around the time we showed that 5Y breakevens have soared to 2.50%, a level last seen just before the 2008 global financial crisis (and when oil was trading at $140), Mizuho rates strategist...

OPEC Joint Committee Ends With No Policy Reco Ahead Of Tomorrow's Meeting

Ahead of tomorrow's OPEC+ summit, today's Joint Ministerial Monitoring Committee (JMMC) video conference ended with no policy recommendation, which means traders will be closely watching tomorrow's full OPEC+ meeting (which begins at 8am) for...

Supreme Court Appears Favorable To Arizona Election Integrity Laws

Authored by Matthew Vadum via The Epoch Times (emphasis ours), Arizona Attorney General Mark Brnovich urged the Supreme Court on March 2 to affirm that his state’s electoral integrity laws were consistent with the...

5Y Breakevens Surge To 2.50%, Highest Since 2008

The market is officially freaking out about inflation. While 10Y breakevens have been relatively rangebound in recent days and printed at 2.23% earlier, the action now appears to be focusing on the belly where...

US Services Sector Jobs Slide As Input Prices Explode Higher

After a mixed picture from US Manufacturing (PMI down, ISM up), expectations for February Services data were positive and Markit delivered with a better than expected 59.8 final print, but, we we have got...

“Insolvent” Greensill Warns Of 'Wave Of Defaults, Job Losses' After 'Spectacular Unraveling'

How the mighty fall... Lex Greensill has gone from "the king of supply chain finance" to insolvent in two weeks. As we detailed previously, London-based Greensill Capital was heralded for apparently revamping the humdrum business...

What's Going On With Bonds: “Prices Have Changed More Than The Facts”

By Ian Lyngen and Ben Jeffery, rates strategists at BMO Capital Markets In what appears to be a backtrack of the recent ECB sentiment on the rise in global rates, European central bankers apparently...

Iran's Revenge? At Least 10 Rockets Slam Into US Base In Iraq

There's yet more significant escalation in Iraq as it appears pro-Iranian militia forces may have 'hit back' in a potential retaliation strike against US forces, as the Pentagon has confirmed at least ten rockets...
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Rabo: Markets Waiting For Next Five Year Plan To Transform Rotten 20s Into Roaring 20s

By Michael Every of Rabobank Five-Year Planning My key theme so far in 2021 --now that “Covid is behind us”: the latest headline is US President Biden promises everyone will be vaccinated by the...