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In a letter to its employees seen by Fastmarkets on Wednesday January 24, the independently owned Magnitude 7 Metals LLC aluminium smelter in Marston, Missouri said it would curtail its operations over the course of the next three to five days, and that "most employees will no longer be required...

Take a wild guess where 2 yr yields are heading to...

He always needs a tit to milk....;) Milky Man!

Elon Musk said Chinese electric car makers will find “significant” success outside of China, even as his auto firm, Tesla, faces intense competition from these same companies. “Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in...

US Q4 advance GDP +3.3% vs +2.0% expected Details: Consumer spending 2.8% vs +3.1% prior Consumer spending on durables +4.6% vs +6.7% prior GDP final sales +3.2% vs +3.6% prior GDP deflator 1.5% vs +2.3% expected (+3.3% prior) Core PCE +2.0% vs +2.0% expected (+2.0% prior) Business investment...

The message is: no easy money anymore for banks & their hedge fund clients. Both were playing games with spot/futures arbitrage leveraged to the hilt. It was about time for the FED to stop this mockery.

Federal Reserve: Announces its bank term funding program will cease making new loans as scheduled on March 11 Adjusts interest rate on new BTFP loans to be no lower than interest rate on reserve balances on day loan was made New rate on BTFP loans effectively increases rate by nearly 50 bps...

Trump’s Golf-Course Tax Break Could Reach $323 Million https://www.wsj.com/us-news/trumps-golf-course-tax-break-could-reach-323-million-3b696ec7?mod=hp_lead_pos4 The deal could save him nearly $120 million in taxes at current rates. The tax form and related documents were obtained by The Wall...

Singapore hedge fund Asia Genesis Asset Management Pte is closing its macro fund after suffering an “unprecedented drawdown” following China’s stock market rout and Japan’s rally. Chua Soon Hock’s Asia Genesis Macro Fund had a loss of 18.8% in the first weeks of January, according to a letter...

Attached find as a gift to all Elitetraders. Best, Nighthawk

The Howey Test The leading Supreme Court case provides a full analysis of the definition and is the starting point of any analysis of whether an instrument is a security. The case is SEC v. Howey Co., 328 U.S. 293 (1946). Boiling that analysis down to a sentence, a security is “an investment of...

Home sales last year dropped to the lowest level in nearly three decades, after elevated mortgage rates and a lack of homes for sale shut out buyers. Existing-home sales slid 19% in 2023 from the prior year to 4.09 million, the National Association of Realtors said Friday. That total was lower...

The US Federal Reserve faces a monetary-policy challenge above and beyond determining the right level of short-term interest rates: how much and how quickly to reduce the more than $7 trillion in securities still on its balance sheet — holdings it amassed in previous years to help stimulate...

Long JPY Futures. short USD/JPY @ 147.63 or better. You can also purchase OTM JPY Futures call options. :sneaky::D

Desperate Tesla owners in and around Chicago were seen trying to charge their vehicles with no luck amid frigid temperatures that have gripped the Midwest. Charging stations have essentially turned into car graveyards in recent days as temperatures have dropped to the negative double digits...

Fed's Waller: Data in the last few months allowing Fed to consider cutting rates this year Comments from Fed Governor Christopher Waller in a virtual event from Brookings The event was moved to virtual-only due to snow in Washington. Changes in policy path must be 'carefully calibrated' and...

PDVSA - the national oil company - uses anyway USDT stable coin as payment method of oil cargoes. Thus, the Petro has become WORTHLESS. Besides, the Petro was involved in a huge embezzlement scandal. In summary, nothing of value to see in the Petro.

The event was moved to virtual-only due to snow in Washington. Changes in policy path must be 'carefully calibrated' and 'not rushed' I am more confident that we are within striking distance of achieving sustainable 2% inflation We are close but I will need more info in coming months to be...

Sell USD/JPY @ 146.72 or better. Target below 143.42.

Here’s what the government claimed: For years Passi and another employee at the bank’s market-leading equities syndicate desk, who wasn’t charged, told select investors about upcoming sales of large blocks of shares of public companies — information they had promised to keep to themselves. In...