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Qcumber

Qcumber

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2021-06-18

👎🏻👎🏻👎🏻👎🏻

Singapore slows the pace of reopening as Covid cases haven't declined significantly

2021-06-17

Wow!

抱歉，原内容已删除

2021-06-16

Jia you!!

抱歉，原内容已删除

2021-06-14

Interesting

Traders give three ways to play rising inflation ahead of Fed meeting

2021-06-11

Woww cool

抱歉，原内容已删除

2021-05-23

$Facebook(FB)$💪🏻💪🏻💪🏻

2021-05-17

[捂脸]

2021-05-14

📈📈📈

2021-04-15

🙏🏻🙏🏻🙏🏻

2021-04-15

Exciting news

抱歉，原内容已删除

2021-04-15

Wow cool

U.S. retail sales surge; weekly jobless claims fall

2021-03-19

Oh my

Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next

2021-03-19

On discount

2021-03-19

I see!

抱歉，原内容已删除

2021-03-19

Interesting

抱歉，原内容已删除

2021-03-15

Hmmmmmmm

2021-03-10

In the green

2021-03-07

Ok cool

抱歉，原内容已删除

2021-03-05

D; oh no

Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface

2021-02-28

up up up?

去老虎APP查看更多动态

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float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore slows the pace of reopening as Covid cases haven't declined significantly\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 15:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/18/covid-singapore-slows-pace-of-reopening-as-local-cases-stabilize.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE — Singapore's government said Friday it will further ease Covid-related restrictions next week, but at a slower pace than previously announced as local infections have not declined ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/covid-singapore-slows-pace-of-reopening-as-local-cases-stabilize.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.cnbc.com/2021/06/18/covid-singapore-slows-pace-of-reopening-as-local-cases-stabilize.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1113093847","content_text":"SINGAPORE — Singapore's government said Friday it will further ease Covid-related restrictions next week, but at a slower pace than previously announced as local infections have not declined significantly.\nThe government startedrelaxing some measuresthis week, including increasing the limits on social gatherings and event attendees.\nIt said that starting Monday, \"higher-risk activities\" such as dining in and indoor mask-off sports and exercises will be allowed to resume in groups of two people — instead of five people as previously announced.\nBarring another super-spreader event or a big cluster of infections, the government will allow those activities for groups of up to five around mid-July.\nSingapore has to be cautious in resuming activities deemed to be of higher risks due to the more transmissible delta variant first detected in India, Health Minister Ong Ye Kung told reporters at a briefing.\nOng said that with a phased reopening, \"we buy time to get more people vaccinated, so the imperative now is to boost vaccinations.\"\nSingapore hasone of the fastest vaccination roll-outsin Asia-Pacific. Around 2.7 million people — or roughly 47% of the population — have received at least the first dose of Covid vaccine as of Monday,latest data by the health ministryshowed.\nThe country had largely controlled the spread of Covid until a flare-up in locally transmitted cases in end-April.Many of the recent cases were caused by the delta variant. The rise in cases forced the government totighten social-distancing measurestwice last month.\nDaily reported casesin the local community fell to single-digit levels for most of last week, but have stayed above 10 cases per day since Sunday as a major cluster of infections emerged around a wet market in southern Singapore.\nOverall, the Southeast Asian country has reported 34 deaths and more than 62,300 confirmed cases since the beginning of 2020 as of Thursday, health ministry data showed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161248859,"gmtCreate":1623931484471,"gmtModify":1631890829540,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Wow!","listText":"Wow!","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161248859","repostId":"1175132084","repostType":4,"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160767152,"gmtCreate":1623806942576,"gmtModify":1631890829543,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Jia you!!&nbsp;","listText":"Jia you!!&nbsp;","text":"Jia you!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/160767152","repostId":"2143765560","repostType":4,"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184096726,"gmtCreate":1623677220565,"gmtModify":1631890829547,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/184096726","repostId":"1126364171","repostType":4,"repost":{"id":"1126364171","pubTimestamp":1623672603,"share":"https://www.laohu8.com/m/news/1126364171?lang=&edition=full","pubTime":"2021-06-14 20:10","market":"us","language":"en","title":"Traders give three ways to play rising inflation ahead of Fed meeting","url":"https://stock-news.laohu8.com/highlight/detail?id=1126364171","media":"cnbc","summary":"Inflation is the talk of Wall Street after last week’s red-hot consumer prices report and ahead of t","content":"<div>\n<p>Inflation is the talk of Wall Street after last week’s red-hot consumer prices report and ahead of theFederal Reserve’s June meeting on Tuesday and Wednesday.\nNo change to rates is expectedfrom the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/14/rising-inflation-ahead-of-fed-rates-meeting-how-to-play-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Traders give three ways to play rising inflation ahead of Fed meeting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTraders give three ways to play rising inflation ahead of Fed meeting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 20:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/14/rising-inflation-ahead-of-fed-rates-meeting-how-to-play-it.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inflation is the talk of Wall Street after last week’s red-hot consumer prices report and ahead of theFederal Reserve’s June meeting on Tuesday and Wednesday.\nNo change to rates is expectedfrom the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/14/rising-inflation-ahead-of-fed-rates-meeting-how-to-play-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚","CVX":"雪佛龙","FCX":"麦克莫兰铜金"},"source_url":"https://www.cnbc.com/2021/06/14/rising-inflation-ahead-of-fed-rates-meeting-how-to-play-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126364171","content_text":"Inflation is the talk of Wall Street after last week’s red-hot consumer prices report and ahead of theFederal Reserve’s June meeting on Tuesday and Wednesday.\nNo change to rates is expectedfrom the Federal Open Market Committee, though investors will be on the lookout for any commentary as to future action.\nAhead of the meeting, CNBC’s “Trading Nation” asked its traders for their best ways to hedge the rise in inflation.\n“Gold is anatural tradebecause negative [real] interest rates obviously really help it, but I think silver is a much better bet,” said Boris Schlossberg, managing director of FX strategy at BK Asset Management. “There’s a lot of industrial demand, especially in the new technologies of solar and 5G.”\nSchlossberg said silver’s lower cost relative to gold could make it an attractive investment in the retail space, too.\n“If inflation becomes a serious story, silver has a much lower cost basis, has a much higher chance to go [higher on a] percentage basis than gold does. It really has a chance to become a meme story if everybody begins to kind of pivot towards the inflation idea,” said Schlossberg.\nCraig Johnson, chief market technician at Piper Sandler, is looking to a surge in oil prices and the knock-on effect in the energy space. He sees upside to $63 for theXLE energy ETF, which holds major oil stocks such as Chevron and Exxon. That ETF close below $56 on Friday.\n\n“The second way is I’d play it through copper, and one of the best ways to play that is throughFreeport-McMoRan. Very high correlation … to the 10-year break-even rates,” he said. “It’s in a very nice uptrend. We’d be buying this pullback in here, and we see upside back to the 2008 and 2011 highs which would still give you 50% upside from current levels.”\n\nFreeport-McMoRan has already rallied 57% this year.Copperprices have surged almost 30%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181688828,"gmtCreate":1623390202664,"gmtModify":1631890829549,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Woww cool","listText":"Woww cool","text":"Woww 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href=\"https://laohu8.com/S/FB\">$Facebook(FB)$</a>💪🏻💪🏻💪🏻","text":"$Facebook(FB)$💪🏻💪🏻💪🏻","images":[{"img":"https://static.tigerbbs.com/ff5ef59efea941f0e83a59234eb2022e","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/133327682","isVote":1,"tweetType":1,"viewCount":574,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":195325411,"gmtCreate":1621258949033,"gmtModify":1631890829555,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"[捂脸]&nbsp;","listText":"[捂脸]&nbsp;","text":"[捂脸]","images":[{"img":"https://static.tigerbbs.com/6a1959dca220c41d7502777a6e137be6","width":"750","height":"1759"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/195325411","isVote":1,"tweetType":1,"viewCount":440,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":196994324,"gmtCreate":1621003429368,"gmtModify":1631890829563,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"📈📈📈","listText":"📈📈📈","text":"📈📈📈","images":[{"img":"https://static.tigerbbs.com/77d155f991acb6d2c20261f75c3b36b1","width":"750","height":"1759"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/196994324","isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":347291641,"gmtCreate":1618495809583,"gmtModify":1631890829565,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"🙏🏻🙏🏻🙏🏻","listText":"🙏🏻🙏🏻🙏🏻","text":"🙏🏻🙏🏻🙏🏻","images":[{"img":"https://static.tigerbbs.com/7f2598ec3db21908dcd9a3013c1b99f2","width":"750","height":"2354"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347291641","isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":347293154,"gmtCreate":1618495776078,"gmtModify":1631890829566,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Exciting news&nbsp;","listText":"Exciting news&nbsp;","text":"Exciting news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347293154","repostId":"1194059260","repostType":4,"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347290664,"gmtCreate":1618495722358,"gmtModify":1634292538886,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Wow cool","listText":"Wow cool","text":"Wow cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347290664","repostId":"2127007082","repostType":4,"repost":{"id":"2127007082","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618489860,"share":"https://www.laohu8.com/m/news/2127007082?lang=&edition=full","pubTime":"2021-04-15 20:31","market":"us","language":"en","title":"U.S. retail sales surge; weekly jobless claims fall","url":"https://stock-news.laohu8.com/highlight/detail?id=2127007082","media":"Reuters","summary":"WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received ","content":"<p>WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.</p><p>Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.</p><p>Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.</p><p>At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.</p><p>Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.</p><p>Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”</p><p>Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.</p><p>Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.</p><p>Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.</p><p>Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.</p><p>According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.</p><p>“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.</p><p>“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”</p><p>Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”</p><p>While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.</p><p>The government reported this month that employers hired 916,000 workers in March, the most in seven months.</p><p>Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. retail sales surge; weekly jobless claims fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. retail sales surge; weekly jobless claims fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-15 20:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.</p><p>Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.</p><p>Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.</p><p>At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.</p><p>Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.</p><p>Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”</p><p>Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.</p><p>Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.</p><p>Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.</p><p>Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.</p><p>According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.</p><p>“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.</p><p>“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”</p><p>Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”</p><p>While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.</p><p>The government reported this month that employers hired 916,000 workers in March, the most in seven months.</p><p>Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TERN":"Terns Pharmaceuticals, Inc.","CRCT":"Cricut, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127007082","content_text":"WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.The government reported this month that employers hired 916,000 workers in March, the most in seven months.Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350182274,"gmtCreate":1616166535398,"gmtModify":1634526896274,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Oh my&nbsp;","listText":"Oh my&nbsp;","text":"Oh my","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350182274","repostId":"1199154789","repostType":4,"repost":{"id":"1199154789","pubTimestamp":1616164372,"share":"https://www.laohu8.com/m/news/1199154789?lang=&edition=full","pubTime":"2021-03-19 22:32","market":"us","language":"en","title":"Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1199154789","media":"zerohedge","summary":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio  exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on ","content":"<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><blockquote>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.</blockquote><p><img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><blockquote>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.</blockquote><p>The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><blockquote>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b></blockquote><p><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><b>So what happens next?</b></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><blockquote>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b></blockquote><p>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><blockquote><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b></blockquote><p>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><blockquote>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...</blockquote><p>While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p>* *&nbsp; *</p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Disappoints Market, Lets SLR Relief Expire: What Happens Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199154789","content_text":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –suggests that the Fed is “foaming the runway” for the end of SLR exemption.\"Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...Bond yields spiked...... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")....... slumped.In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).So what happens next?Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market:The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:3. Relief ends March 31, banks fully raise capital Impact on BanksRatesFront-End Rates 4. Relief ends March 31, banks raise capital & de-lever Impact on BanksRatesFront-End RatesGoing back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,and these flows will swell further money funds’ inflows coming from TGA drawdowns.\"More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.* *  *Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" asthe SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing.“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.","news_type":1},"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350925157,"gmtCreate":1616152498679,"gmtModify":1634526983567,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"On discount&nbsp;","listText":"On discount&nbsp;","text":"On 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cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320219729","repostId":"1143578966","repostType":4,"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367695039,"gmtCreate":1614942027321,"gmtModify":1703483235499,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"D; oh no&nbsp;","listText":"D; oh no&nbsp;","text":"D; oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/367695039","repostId":"1145536641","repostType":4,"repost":{"id":"1145536641","pubTimestamp":1614937984,"share":"https://www.laohu8.com/m/news/1145536641?lang=&edition=full","pubTime":"2021-03-05 17:53","market":"us","language":"en","title":"Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface","url":"https://stock-news.laohu8.com/highlight/detail?id=1145536641","media":"marketwatch","summary":"Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hasht","content":"<blockquote>\n <b>Rotation pushes Nasdaq into correction territory as bond yields continue rise.</b>\n</blockquote>\n<p>Never mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last March’s pandemic-inspired selloff, much less the global financial crisis of 2008, the dot-com bubble burst in 2000 or October 1987 would recall.</p>\n<p>But a rotation away from the market’s pandemic-era leaders, inspired by a sudden jump in bond yields, certainly does appear to be underway, and volatility can be unsettling to some investors.</p>\n<p>That could help explain why the term #stockmarketcrash was trending on Twitter Thursday, even though the Dow Jones Industrial Average DJIA and the S&amp;P 500 SPX remain far from even entering what’s known as a market correction, defined as a pullback of 10% from a recent peak, let alone a crash.</p>\n<p>The question investors should ask before tripping the alarm bells, however, is whether the price action is surprising or out of the ordinary, Brad McMillan, chief investment officer at Commonwealth Financial Network, told MarketWatch in a phone interview.</p>\n<p>And the answer is no, given that a backup in bond yields, which seems to largely reflect increasingly upbeat economic expectations, looks to be the main culprit, McMillan said.</p>\n<p>While the tech-heavy Nasdaq Composite COMP on Thursday entered correction territory, having registered a 10% drop from its recent high point, the Dow Jones Industrial Average DJIA is still just 3.4% below an all-time high set last month. The S&amp;P 500, the large-cap U.S. benchmark, was off less than 5% down from its recent record.</p>\n<p>Thursday’s market weakness echoed the wobble seen last week. Both bouts of selling were sparked by a selloff in the Treasury bond market, which pushed up yields. The yield on the 10-year Treasury note BX:TMUBMUSD10Y, which last week spiked to a more-than-one-year high at 1.6%, pushed back above 1.5% on Thursday. Remarks by Federal Reserve Chairman Jerome Powell seemed not to calm concerns that a potential pickup in inflation could see the central bank begin to scale back monetary stimulus earlier than expected, notwithstanding a pledge to let the economy run hot.</p>\n<p>To keep the day’s moves in perspective, the Nasdaq finished with a loss of 2.1%. The Dow was down more than 700 points at its session low, ending the day with a loss of 345.95 points, or 1%. The S&amp;P 500 shed 1.2%. Those are sharp daily drops, but they are not extraordinary.</p>\n<p>And it’s not unusual for stocks to begin pulling back as yields begin to rise, McMillan noted. It’s also not surprising that highflying growth stocks, which have seen valuations stretched in the post-pandemic rally, bear the brunt of the selling pressure.</p>\n<p>Investors appear to be taking profits on those highfliers and using the proceeds to buy stocks of companies in sectors more sensitive to the economic cycle.</p>\n<p>While rising yields can be a positive sign in the early stages of a bull market, signaling stronger economic growth ahead, the market rotation can be unnerving for investors, said Lindsey Bell, chief investment strategist for Ally Invest, in a note.</p>\n<p>“And higher yields tend to hit highfliers harder. That’s why we’ve seen stocks like Tesla TSLA and Peloton PTON fall more than 30% this year,” she said.</p>\n<p>Indeed, the outsize weighting of tech- and tech-related shares in major indexes can leave them vulnerable to weakness as that process takes hold.</p>\n<p>The price action of mega technology and discretionary stocks — Apple Inc. AAPL, Microsoft Corp. MSFT, Amazon.com Inc. AMZN, Facebook Inc. FB, Google parent Alphabet Inc. GOOG GOOGL, Tesla Inc. and Nvidia Corp. NVDA — now make up 24% of the S&amp;P 500, noted technical analyst Mark Arbeter, president of Arbeter Investments.</p>\n<p>“The weakness in large-cap tech has been weighing on the broad market averages, sparking concerns of a market top and the end of the cycle. From our perspective, breadth remains strong, a characteristic that is typically not present at market tops,” said Kevin Dempter, an analyst at Renaissance Macro Research, in a Thursday note.</p>\n<p>Small-cap discretionary stocks are at absolute highs, as well as multiyear highs relative to large-cap discretionary stocks, he said, which is a sign of broad-based participation. Trends are also strong for sectors, like energy and banks, that tend to be winners in higher-yield environments, while more economically sensitive groups like transports and services are also benefiting.</p>\n<p>“Rather than a market top, we think this is rotational in nature with limited downside and going forward we want to be overweight high yield winners like banks and energy as there is likely further outperformance in these groups to come,” Dempter wrote.</p>\n<p>So what about that crash? After the recent bond-inspired hiccups, the Dow and S&amp;P 500 remain far from correction territory, much less a bear market, which is defined as a 20% drop from a recent peak.</p>\n<p>Not all bear markets are the product of a crash. And crash, itself, is a more nebulous term, implying a sudden and sharp fall. Some analysts define a crash as a one-day drop of 5% or more. Others see a typical crash as a sudden, sharp drop that takes the market into a bear market and beyond in a matter of a few sessions.</p>\n<p>That was the case last year as it became apparent the COVID-19 pandemic would bring the U.S. and global economy to a near halt. The S&amp;P 500 plunged from a record close on Feb. 19, dropping around 34% before bottoming on March 23.</p>\n<p>Since those March lows, the S&amp;P 500 remains up nearly 72%, while the Dow has rallied nearly 70%. And even with its recent pullback, the Nasdaq remains up more than 90% over that stretch.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 17:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1145536641","content_text":"Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last March’s pandemic-inspired selloff, much less the global financial crisis of 2008, the dot-com bubble burst in 2000 or October 1987 would recall.\nBut a rotation away from the market’s pandemic-era leaders, inspired by a sudden jump in bond yields, certainly does appear to be underway, and volatility can be unsettling to some investors.\nThat could help explain why the term #stockmarketcrash was trending on Twitter Thursday, even though the Dow Jones Industrial Average DJIA and the S&P 500 SPX remain far from even entering what’s known as a market correction, defined as a pullback of 10% from a recent peak, let alone a crash.\nThe question investors should ask before tripping the alarm bells, however, is whether the price action is surprising or out of the ordinary, Brad McMillan, chief investment officer at Commonwealth Financial Network, told MarketWatch in a phone interview.\nAnd the answer is no, given that a backup in bond yields, which seems to largely reflect increasingly upbeat economic expectations, looks to be the main culprit, McMillan said.\nWhile the tech-heavy Nasdaq Composite COMP on Thursday entered correction territory, having registered a 10% drop from its recent high point, the Dow Jones Industrial Average DJIA is still just 3.4% below an all-time high set last month. The S&P 500, the large-cap U.S. benchmark, was off less than 5% down from its recent record.\nThursday’s market weakness echoed the wobble seen last week. Both bouts of selling were sparked by a selloff in the Treasury bond market, which pushed up yields. The yield on the 10-year Treasury note BX:TMUBMUSD10Y, which last week spiked to a more-than-one-year high at 1.6%, pushed back above 1.5% on Thursday. Remarks by Federal Reserve Chairman Jerome Powell seemed not to calm concerns that a potential pickup in inflation could see the central bank begin to scale back monetary stimulus earlier than expected, notwithstanding a pledge to let the economy run hot.\nTo keep the day’s moves in perspective, the Nasdaq finished with a loss of 2.1%. The Dow was down more than 700 points at its session low, ending the day with a loss of 345.95 points, or 1%. The S&P 500 shed 1.2%. Those are sharp daily drops, but they are not extraordinary.\nAnd it’s not unusual for stocks to begin pulling back as yields begin to rise, McMillan noted. It’s also not surprising that highflying growth stocks, which have seen valuations stretched in the post-pandemic rally, bear the brunt of the selling pressure.\nInvestors appear to be taking profits on those highfliers and using the proceeds to buy stocks of companies in sectors more sensitive to the economic cycle.\nWhile rising yields can be a positive sign in the early stages of a bull market, signaling stronger economic growth ahead, the market rotation can be unnerving for investors, said Lindsey Bell, chief investment strategist for Ally Invest, in a note.\n“And higher yields tend to hit highfliers harder. That’s why we’ve seen stocks like Tesla TSLA and Peloton PTON fall more than 30% this year,” she said.\nIndeed, the outsize weighting of tech- and tech-related shares in major indexes can leave them vulnerable to weakness as that process takes hold.\nThe price action of mega technology and discretionary stocks — Apple Inc. AAPL, Microsoft Corp. MSFT, Amazon.com Inc. AMZN, Facebook Inc. FB, Google parent Alphabet Inc. GOOG GOOGL, Tesla Inc. and Nvidia Corp. NVDA — now make up 24% of the S&P 500, noted technical analyst Mark Arbeter, president of Arbeter Investments.\n“The weakness in large-cap tech has been weighing on the broad market averages, sparking concerns of a market top and the end of the cycle. From our perspective, breadth remains strong, a characteristic that is typically not present at market tops,” said Kevin Dempter, an analyst at Renaissance Macro Research, in a Thursday note.\nSmall-cap discretionary stocks are at absolute highs, as well as multiyear highs relative to large-cap discretionary stocks, he said, which is a sign of broad-based participation. Trends are also strong for sectors, like energy and banks, that tend to be winners in higher-yield environments, while more economically sensitive groups like transports and services are also benefiting.\n“Rather than a market top, we think this is rotational in nature with limited downside and going forward we want to be overweight high yield winners like banks and energy as there is likely further outperformance in these groups to come,” Dempter wrote.\nSo what about that crash? After the recent bond-inspired hiccups, the Dow and S&P 500 remain far from correction territory, much less a bear market, which is defined as a 20% drop from a recent peak.\nNot all bear markets are the product of a crash. And crash, itself, is a more nebulous term, implying a sudden and sharp fall. Some analysts define a crash as a one-day drop of 5% or more. Others see a typical crash as a sudden, sharp drop that takes the market into a bear market and beyond in a matter of a few sessions.\nThat was the case last year as it became apparent the COVID-19 pandemic would bring the U.S. and global economy to a near halt. The S&P 500 plunged from a record close on Feb. 19, dropping around 34% before bottoming on March 23.\nSince those March lows, the S&P 500 remains up nearly 72%, while the Dow has rallied nearly 70%. And even with its recent pullback, the Nasdaq remains up more than 90% over that stretch.","news_type":1},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366840291,"gmtCreate":1614443137513,"gmtModify":1703477589570,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"up up up?","listText":"up up up?","text":"up up 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you!!&nbsp;","listText":"Jia you!!&nbsp;","text":"Jia you!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/160767152","repostId":"2143765560","repostType":4,"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181688828,"gmtCreate":1623390202664,"gmtModify":1631890829549,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Woww cool","listText":"Woww cool","text":"Woww cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181688828","repostId":"1117902875","repostType":4,"repost":{"id":"1117902875","pubTimestamp":1623383049,"share":"https://www.laohu8.com/m/news/1117902875?lang=&edition=full","pubTime":"2021-06-11 11:44","market":"us","language":"en","title":"Ride share prices for Uber, Lyft continue to spike nationwide amid driver shortage, high demand","url":"https://stock-news.laohu8.com/highlight/detail?id=1117902875","media":"foxbusiness","summary":"Hailing arideis becoming increasingly expensive for consumers.\nAs ride-share companies likeUberandLy","content":"<p>Hailing arideis becoming increasingly expensive for consumers.</p>\n<p>As ride-share companies likeUberandLyftcombat driver shortages, prices for rides have spiked 40% nationwide, according to data from Rakuten. The surge is hitting big cities like New York, Los Angeles and Chicago especially hard.</p>\n<p>Industry analysts say with the economy rebounding and travel and hospitality seeing increased demand, more consumers are once again relying on ride-hailing apps at higher rates.</p>\n<p>\"The rise in prices is a classic case of supply and demand. Activities, events and restaurants are opening back up, and people are seeking ride-sharing services at a scale we haven’t seen since before the pandemic,\"&nbsp;Rakuten Intelligence, Vice President of Insights and Analytics David Gill told FOX Business in a statement.</p>\n<p>Drivers, meanwhile, have sought out other avenues for gig work during the pandemic to stay afloat amid slow times. At the height of COVID-19, many drivers faced unsteady earnings with one driver saying he was making just $2.50 an hour due to lack of demand compared to the $200 an hour they were making before the pandemic,Business Insiderreported in April.</p>\n<p>\"A lot of drivers shifted their attention to other gig-work during the pandemic to keep money coming in at a time when rides were down, and they haven’t returned at the volume needed to keep up with the new demand. We’re seeing ride-sharing companies invest in incentivizing new drivers, so we’ll see this even out, but it might be weeks or even months before we get there,\" Gill explained.</p>\n<p>Indeed,&nbsp;Uber announced in April it was launching a $250 million stimulus to boost earnings for drivers as a way to incentivize workers amid the shortages. The stimulus will go directly to drivers who start driving again and new drivers, the company said.</p>\n<p>Lyft is also focused on increasing the number of drivers on its platform to meet the higher demand noting that drivers going through the new hire process for the company were up by more than 25% from the end of February, the company reported said on its May 4 earnings call.</p>","source":"lsy1610518597439","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ride share prices for Uber, Lyft continue to spike nationwide amid driver shortage, high demand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRide share prices for Uber, Lyft continue to spike nationwide amid driver shortage, high demand\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 11:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.foxbusiness.com/economy/ride-share-prices-uber-lyft-spike-nationwide><strong>foxbusiness</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hailing arideis becoming increasingly expensive for consumers.\nAs ride-share companies likeUberandLyftcombat driver shortages, prices for rides have spiked 40% nationwide, according to data from ...</p>\n\n<a href=\"https://www.foxbusiness.com/economy/ride-share-prices-uber-lyft-spike-nationwide\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LYFT":"Lyft, Inc.","UBER":"优步"},"source_url":"https://www.foxbusiness.com/economy/ride-share-prices-uber-lyft-spike-nationwide","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117902875","content_text":"Hailing arideis becoming increasingly expensive for consumers.\nAs ride-share companies likeUberandLyftcombat driver shortages, prices for rides have spiked 40% nationwide, according to data from Rakuten. The surge is hitting big cities like New York, Los Angeles and Chicago especially hard.\nIndustry analysts say with the economy rebounding and travel and hospitality seeing increased demand, more consumers are once again relying on ride-hailing apps at higher rates.\n\"The rise in prices is a classic case of supply and demand. Activities, events and restaurants are opening back up, and people are seeking ride-sharing services at a scale we haven’t seen since before the pandemic,\" Rakuten Intelligence, Vice President of Insights and Analytics David Gill told FOX Business in a statement.\nDrivers, meanwhile, have sought out other avenues for gig work during the pandemic to stay afloat amid slow times. At the height of COVID-19, many drivers faced unsteady earnings with one driver saying he was making just $2.50 an hour due to lack of demand compared to the $200 an hour they were making before the pandemic,Business Insiderreported in April.\n\"A lot of drivers shifted their attention to other gig-work during the pandemic to keep money coming in at a time when rides were down, and they haven’t returned at the volume needed to keep up with the new demand. We’re seeing ride-sharing companies invest in incentivizing new drivers, so we’ll see this even out, but it might be weeks or even months before we get there,\" Gill explained.\nIndeed, Uber announced in April it was launching a $250 million stimulus to boost earnings for drivers as a way to incentivize workers amid the shortages. The stimulus will go directly to drivers who start driving again and new drivers, the company said.\nLyft is also focused on increasing the number of drivers on its platform to meet the higher demand noting that drivers going through the new hire process for the company were up by more than 25% from the end of February, the company reported said on its May 4 earnings call.","news_type":1},"isVote":1,"tweetType":1,"viewCount":67,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350182274,"gmtCreate":1616166535398,"gmtModify":1634526896274,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Oh my&nbsp;","listText":"Oh my&nbsp;","text":"Oh my","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350182274","repostId":"1199154789","repostType":4,"repost":{"id":"1199154789","pubTimestamp":1616164372,"share":"https://www.laohu8.com/m/news/1199154789?lang=&edition=full","pubTime":"2021-03-19 22:32","market":"us","language":"en","title":"Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1199154789","media":"zerohedge","summary":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio  exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on ","content":"<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><blockquote>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.</blockquote><p><img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><blockquote>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.</blockquote><p>The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><blockquote>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b></blockquote><p><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><b>So what happens next?</b></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><blockquote>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b></blockquote><p>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><blockquote><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b></blockquote><p>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><blockquote>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...</blockquote><p>While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p>* *&nbsp; *</p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Disappoints Market, Lets SLR Relief Expire: What Happens Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199154789","content_text":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –suggests that the Fed is “foaming the runway” for the end of SLR exemption.\"Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...Bond yields spiked...... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")....... slumped.In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).So what happens next?Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market:The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:3. Relief ends March 31, banks fully raise capital Impact on BanksRatesFront-End Rates 4. Relief ends March 31, banks raise capital & de-lever Impact on BanksRatesFront-End RatesGoing back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,and these flows will swell further money funds’ inflows coming from TGA drawdowns.\"More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.* *  *Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" asthe SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing.“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.","news_type":1},"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347291641,"gmtCreate":1618495809583,"gmtModify":1631890829565,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"🙏🏻🙏🏻🙏🏻","listText":"🙏🏻🙏🏻🙏🏻","text":"🙏🏻🙏🏻🙏🏻","images":[{"img":"https://static.tigerbbs.com/7f2598ec3db21908dcd9a3013c1b99f2","width":"750","height":"2354"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347291641","isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":347290664,"gmtCreate":1618495722358,"gmtModify":1634292538886,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Wow cool","listText":"Wow cool","text":"Wow cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347290664","repostId":"2127007082","repostType":4,"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361958495,"gmtCreate":1614190127817,"gmtModify":1634550785844,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361958495","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350922233,"gmtCreate":1616152439722,"gmtModify":1634526983819,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"I see!","listText":"I see!","text":"I see!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350922233","repostId":"1151081973","repostType":4,"isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323590639,"gmtCreate":1615351741221,"gmtModify":1703487761086,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"In the green&nbsp;","listText":"In the green&nbsp;","text":"In the green","images":[{"img":"https://static.tigerbbs.com/a81c1e873369e67d6af9c634c3616de7","width":"750","height":"2484"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/323590639","isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":367695039,"gmtCreate":1614942027321,"gmtModify":1703483235499,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"D; oh no&nbsp;","listText":"D; oh no&nbsp;","text":"D; oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/367695039","repostId":"1145536641","repostType":4,"repost":{"id":"1145536641","pubTimestamp":1614937984,"share":"https://www.laohu8.com/m/news/1145536641?lang=&edition=full","pubTime":"2021-03-05 17:53","market":"us","language":"en","title":"Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface","url":"https://stock-news.laohu8.com/highlight/detail?id=1145536641","media":"marketwatch","summary":"Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hasht","content":"<blockquote>\n <b>Rotation pushes Nasdaq into correction territory as bond yields continue rise.</b>\n</blockquote>\n<p>Never mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last March’s pandemic-inspired selloff, much less the global financial crisis of 2008, the dot-com bubble burst in 2000 or October 1987 would recall.</p>\n<p>But a rotation away from the market’s pandemic-era leaders, inspired by a sudden jump in bond yields, certainly does appear to be underway, and volatility can be unsettling to some investors.</p>\n<p>That could help explain why the term #stockmarketcrash was trending on Twitter Thursday, even though the Dow Jones Industrial Average DJIA and the S&amp;P 500 SPX remain far from even entering what’s known as a market correction, defined as a pullback of 10% from a recent peak, let alone a crash.</p>\n<p>The question investors should ask before tripping the alarm bells, however, is whether the price action is surprising or out of the ordinary, Brad McMillan, chief investment officer at Commonwealth Financial Network, told MarketWatch in a phone interview.</p>\n<p>And the answer is no, given that a backup in bond yields, which seems to largely reflect increasingly upbeat economic expectations, looks to be the main culprit, McMillan said.</p>\n<p>While the tech-heavy Nasdaq Composite COMP on Thursday entered correction territory, having registered a 10% drop from its recent high point, the Dow Jones Industrial Average DJIA is still just 3.4% below an all-time high set last month. The S&amp;P 500, the large-cap U.S. benchmark, was off less than 5% down from its recent record.</p>\n<p>Thursday’s market weakness echoed the wobble seen last week. Both bouts of selling were sparked by a selloff in the Treasury bond market, which pushed up yields. The yield on the 10-year Treasury note BX:TMUBMUSD10Y, which last week spiked to a more-than-one-year high at 1.6%, pushed back above 1.5% on Thursday. Remarks by Federal Reserve Chairman Jerome Powell seemed not to calm concerns that a potential pickup in inflation could see the central bank begin to scale back monetary stimulus earlier than expected, notwithstanding a pledge to let the economy run hot.</p>\n<p>To keep the day’s moves in perspective, the Nasdaq finished with a loss of 2.1%. The Dow was down more than 700 points at its session low, ending the day with a loss of 345.95 points, or 1%. The S&amp;P 500 shed 1.2%. Those are sharp daily drops, but they are not extraordinary.</p>\n<p>And it’s not unusual for stocks to begin pulling back as yields begin to rise, McMillan noted. It’s also not surprising that highflying growth stocks, which have seen valuations stretched in the post-pandemic rally, bear the brunt of the selling pressure.</p>\n<p>Investors appear to be taking profits on those highfliers and using the proceeds to buy stocks of companies in sectors more sensitive to the economic cycle.</p>\n<p>While rising yields can be a positive sign in the early stages of a bull market, signaling stronger economic growth ahead, the market rotation can be unnerving for investors, said Lindsey Bell, chief investment strategist for Ally Invest, in a note.</p>\n<p>“And higher yields tend to hit highfliers harder. That’s why we’ve seen stocks like Tesla TSLA and Peloton PTON fall more than 30% this year,” she said.</p>\n<p>Indeed, the outsize weighting of tech- and tech-related shares in major indexes can leave them vulnerable to weakness as that process takes hold.</p>\n<p>The price action of mega technology and discretionary stocks — Apple Inc. AAPL, Microsoft Corp. MSFT, Amazon.com Inc. AMZN, Facebook Inc. FB, Google parent Alphabet Inc. GOOG GOOGL, Tesla Inc. and Nvidia Corp. NVDA — now make up 24% of the S&amp;P 500, noted technical analyst Mark Arbeter, president of Arbeter Investments.</p>\n<p>“The weakness in large-cap tech has been weighing on the broad market averages, sparking concerns of a market top and the end of the cycle. From our perspective, breadth remains strong, a characteristic that is typically not present at market tops,” said Kevin Dempter, an analyst at Renaissance Macro Research, in a Thursday note.</p>\n<p>Small-cap discretionary stocks are at absolute highs, as well as multiyear highs relative to large-cap discretionary stocks, he said, which is a sign of broad-based participation. Trends are also strong for sectors, like energy and banks, that tend to be winners in higher-yield environments, while more economically sensitive groups like transports and services are also benefiting.</p>\n<p>“Rather than a market top, we think this is rotational in nature with limited downside and going forward we want to be overweight high yield winners like banks and energy as there is likely further outperformance in these groups to come,” Dempter wrote.</p>\n<p>So what about that crash? After the recent bond-inspired hiccups, the Dow and S&amp;P 500 remain far from correction territory, much less a bear market, which is defined as a 20% drop from a recent peak.</p>\n<p>Not all bear markets are the product of a crash. And crash, itself, is a more nebulous term, implying a sudden and sharp fall. Some analysts define a crash as a one-day drop of 5% or more. Others see a typical crash as a sudden, sharp drop that takes the market into a bear market and beyond in a matter of a few sessions.</p>\n<p>That was the case last year as it became apparent the COVID-19 pandemic would bring the U.S. and global economy to a near halt. The S&amp;P 500 plunged from a record close on Feb. 19, dropping around 34% before bottoming on March 23.</p>\n<p>Since those March lows, the S&amp;P 500 remains up nearly 72%, while the Dow has rallied nearly 70%. And even with its recent pullback, the Nasdaq remains up more than 90% over that stretch.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock-market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surface\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 17:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/stock-market-crash-no-but-a-rotation-away-from-u-s-tech-stocks-is-shaking-up-some-investors-11614888386?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1145536641","content_text":"Rotation pushes Nasdaq into correction territory as bond yields continue rise.\n\nNever mind the hashtags, the stock market remains far from “crash” territory, as anyone with a working memory of last March’s pandemic-inspired selloff, much less the global financial crisis of 2008, the dot-com bubble burst in 2000 or October 1987 would recall.\nBut a rotation away from the market’s pandemic-era leaders, inspired by a sudden jump in bond yields, certainly does appear to be underway, and volatility can be unsettling to some investors.\nThat could help explain why the term #stockmarketcrash was trending on Twitter Thursday, even though the Dow Jones Industrial Average DJIA and the S&P 500 SPX remain far from even entering what’s known as a market correction, defined as a pullback of 10% from a recent peak, let alone a crash.\nThe question investors should ask before tripping the alarm bells, however, is whether the price action is surprising or out of the ordinary, Brad McMillan, chief investment officer at Commonwealth Financial Network, told MarketWatch in a phone interview.\nAnd the answer is no, given that a backup in bond yields, which seems to largely reflect increasingly upbeat economic expectations, looks to be the main culprit, McMillan said.\nWhile the tech-heavy Nasdaq Composite COMP on Thursday entered correction territory, having registered a 10% drop from its recent high point, the Dow Jones Industrial Average DJIA is still just 3.4% below an all-time high set last month. The S&P 500, the large-cap U.S. benchmark, was off less than 5% down from its recent record.\nThursday’s market weakness echoed the wobble seen last week. Both bouts of selling were sparked by a selloff in the Treasury bond market, which pushed up yields. The yield on the 10-year Treasury note BX:TMUBMUSD10Y, which last week spiked to a more-than-one-year high at 1.6%, pushed back above 1.5% on Thursday. Remarks by Federal Reserve Chairman Jerome Powell seemed not to calm concerns that a potential pickup in inflation could see the central bank begin to scale back monetary stimulus earlier than expected, notwithstanding a pledge to let the economy run hot.\nTo keep the day’s moves in perspective, the Nasdaq finished with a loss of 2.1%. The Dow was down more than 700 points at its session low, ending the day with a loss of 345.95 points, or 1%. The S&P 500 shed 1.2%. Those are sharp daily drops, but they are not extraordinary.\nAnd it’s not unusual for stocks to begin pulling back as yields begin to rise, McMillan noted. It’s also not surprising that highflying growth stocks, which have seen valuations stretched in the post-pandemic rally, bear the brunt of the selling pressure.\nInvestors appear to be taking profits on those highfliers and using the proceeds to buy stocks of companies in sectors more sensitive to the economic cycle.\nWhile rising yields can be a positive sign in the early stages of a bull market, signaling stronger economic growth ahead, the market rotation can be unnerving for investors, said Lindsey Bell, chief investment strategist for Ally Invest, in a note.\n“And higher yields tend to hit highfliers harder. That’s why we’ve seen stocks like Tesla TSLA and Peloton PTON fall more than 30% this year,” she said.\nIndeed, the outsize weighting of tech- and tech-related shares in major indexes can leave them vulnerable to weakness as that process takes hold.\nThe price action of mega technology and discretionary stocks — Apple Inc. AAPL, Microsoft Corp. MSFT, Amazon.com Inc. AMZN, Facebook Inc. FB, Google parent Alphabet Inc. GOOG GOOGL, Tesla Inc. and Nvidia Corp. NVDA — now make up 24% of the S&P 500, noted technical analyst Mark Arbeter, president of Arbeter Investments.\n“The weakness in large-cap tech has been weighing on the broad market averages, sparking concerns of a market top and the end of the cycle. From our perspective, breadth remains strong, a characteristic that is typically not present at market tops,” said Kevin Dempter, an analyst at Renaissance Macro Research, in a Thursday note.\nSmall-cap discretionary stocks are at absolute highs, as well as multiyear highs relative to large-cap discretionary stocks, he said, which is a sign of broad-based participation. Trends are also strong for sectors, like energy and banks, that tend to be winners in higher-yield environments, while more economically sensitive groups like transports and services are also benefiting.\n“Rather than a market top, we think this is rotational in nature with limited downside and going forward we want to be overweight high yield winners like banks and energy as there is likely further outperformance in these groups to come,” Dempter wrote.\nSo what about that crash? After the recent bond-inspired hiccups, the Dow and S&P 500 remain far from correction territory, much less a bear market, which is defined as a 20% drop from a recent peak.\nNot all bear markets are the product of a crash. And crash, itself, is a more nebulous term, implying a sudden and sharp fall. Some analysts define a crash as a one-day drop of 5% or more. Others see a typical crash as a sudden, sharp drop that takes the market into a bear market and beyond in a matter of a few sessions.\nThat was the case last year as it became apparent the COVID-19 pandemic would bring the U.S. and global economy to a near halt. The S&P 500 plunged from a record close on Feb. 19, dropping around 34% before bottoming on March 23.\nSince those March lows, the S&P 500 remains up nearly 72%, while the Dow has rallied nearly 70%. And even with its recent pullback, the Nasdaq remains up more than 90% over that stretch.","news_type":1},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347293154,"gmtCreate":1618495776078,"gmtModify":1631890829566,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Exciting news&nbsp;","listText":"Exciting news&nbsp;","text":"Exciting news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347293154","repostId":"1194059260","repostType":4,"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350922374,"gmtCreate":1616152378798,"gmtModify":1634526983941,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350922374","repostId":"1197074607","repostType":4,"repost":{"id":"1197074607","pubTimestamp":1616152229,"share":"https://www.laohu8.com/m/news/1197074607?lang=&edition=full","pubTime":"2021-03-19 19:10","market":"us","language":"en","title":"Is This Underappreciated Cathie Wood Stock a Better Buy Than Tesla Right Now?","url":"https://stock-news.laohu8.com/highlight/detail?id=1197074607","media":"Motley Fool","summary":"It definitely could have more upside potential.Pretty much everybody knows Cathie Wood really likesT","content":"<blockquote>It definitely could have more upside potential.</blockquote><p>Pretty much everybody knows Cathie Wood really likes<b>Tesla</b>(NASDAQ:TSLA). The ARK Investment Management founder and CEO talks about Tesla regularly. And when the electric-vehicle stock dips, Wood usually buys even more for her high-flying exchange-traded funds.</p><p>Many of the other holdings in the ETFs managed by Wood don't receive as much attention. However, she pointed to one of them earlier this month in a CNBC interview, referring to it as one of the \"most underappreciated\" stocks that she owns.</p><p>What is this underappreciated stock -- and could it be an even better buy than Tesla?</p><p><b>It's in the genes</b></p><p>Wood singled out medical genetics leader<b>Invitae</b>(NYSE:NVTA)as an especially underappreciated stock. The company states that its mission \"is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.\"</p><p>That's the kind of ambitious goal that excites Cathie Wood. It's not surprising, therefore, that two of the ETFs that she manages have positions in Invitae. The stock is the 11th-largest holding in the<b>ARK Innovation ETF</b>and the 17th-largest holding in the<b>ARK Genomic Revolution ETF</b>.</p><p>Invitae offers a wide range of genetic testing. Individuals can determine their risks of passing on genetic conditions to children and the most suitable embryos to help ensure a healthy pregnancy can be identified during in vitro fertilization. Healthcare providers can order genetic diagnostics tests for an extensive and growing list of conditions.</p><p>Over the last five years, Invitae's trailing-12-month revenue has skyrocketed over 2,400%. That performance trounces Tesla's revenue growth of around 640% during the same period.</p><p>Unlike Tesla, however, Invitae isn't profitable yet. But the genetic testing companyhas a path to profitabilityover the next few years, especially with the recent acquisitions of ArcherDX and One Codex expanding Invitae's capabilities.</p><p><b>A massive potential market</b></p><p>In the past, the high costs of genetic testing served as a limiting factor for growth in the market. But technological innovations in gene sequencing have reduced the costs of testing and opened the door to a massive potential market.</p><p>Invitae CEO Sean George told CNBC last week that the scenario for genetic testing is similar to what happened in the computing and networking industry around four decades ago. Lower semiconductor costs back then set the stage for an explosion in the market.</p><p>How big could the explosion be in genetic testing? Invitae thinks that its total addressable market tops $150 billion annually. It projects that the genetic testing opportunity in senior adults ages 65 and over alone is around $63 billion. The company estimates that the potential genetic-testing market in adults between the ages of 41 and 65 totals around $60 billion.</p><p>Invitae believes that it's at an inflection point in the transformation curve for genetic testing. As the company continues to drive costs lower and expands its menu of tests, it expects testing volumes to increase significantly.</p><p><b>Better than Tesla?</b></p><p>To be sure, Invitae hasn't been as big of a winner as Tesla so far. Over the last five years, thehealthcare stockhas quintupled in value. During the same period, however, Tesla skyrocketed close to 1,500%.</p><p>But could Invitae be a better pick than Tesla over the long run? When asked in a Bloomberg interview in December which stock could fuel the biggest gains for ARK ETFs over the next five years, Wood acknowledged that Tesla is in the running. However, she also stated, \"The biggest upside surprises are going to come from the genomics space.\"</p><p>That doesn't mean Invitae is necessarily the genomics stock that will emerge as the major surprise winner of the future. It could be, though.</p><p>The company's market cap currently stands at only around $8.5 billion. Invitae could potentially be a 10-bagger if it snags a double-digit share of its addressable market. While Tesla has been remarkably successful, it's a stretch to envision the stock becoming a 10-bagger again.</p><p>Invitae just might be a better buy than Tesla right now. Even if it's not, though, there's a really good chance the stock won't remain underappreciated for too much longer.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is This Underappreciated Cathie Wood Stock a Better Buy Than Tesla Right Now?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs This Underappreciated Cathie Wood Stock a Better Buy Than Tesla Right Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 19:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/19/is-this-underappreciated-cathie-wood-stock-a-bette/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It definitely could have more upside potential.Pretty much everybody knows Cathie Wood really likesTesla(NASDAQ:TSLA). The ARK Investment Management founder and CEO talks about Tesla regularly. And ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/19/is-this-underappreciated-cathie-wood-stock-a-bette/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/19/is-this-underappreciated-cathie-wood-stock-a-bette/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197074607","content_text":"It definitely could have more upside potential.Pretty much everybody knows Cathie Wood really likesTesla(NASDAQ:TSLA). The ARK Investment Management founder and CEO talks about Tesla regularly. And when the electric-vehicle stock dips, Wood usually buys even more for her high-flying exchange-traded funds.Many of the other holdings in the ETFs managed by Wood don't receive as much attention. However, she pointed to one of them earlier this month in a CNBC interview, referring to it as one of the \"most underappreciated\" stocks that she owns.What is this underappreciated stock -- and could it be an even better buy than Tesla?It's in the genesWood singled out medical genetics leaderInvitae(NYSE:NVTA)as an especially underappreciated stock. The company states that its mission \"is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.\"That's the kind of ambitious goal that excites Cathie Wood. It's not surprising, therefore, that two of the ETFs that she manages have positions in Invitae. The stock is the 11th-largest holding in theARK Innovation ETFand the 17th-largest holding in theARK Genomic Revolution ETF.Invitae offers a wide range of genetic testing. Individuals can determine their risks of passing on genetic conditions to children and the most suitable embryos to help ensure a healthy pregnancy can be identified during in vitro fertilization. Healthcare providers can order genetic diagnostics tests for an extensive and growing list of conditions.Over the last five years, Invitae's trailing-12-month revenue has skyrocketed over 2,400%. That performance trounces Tesla's revenue growth of around 640% during the same period.Unlike Tesla, however, Invitae isn't profitable yet. But the genetic testing companyhas a path to profitabilityover the next few years, especially with the recent acquisitions of ArcherDX and One Codex expanding Invitae's capabilities.A massive potential marketIn the past, the high costs of genetic testing served as a limiting factor for growth in the market. But technological innovations in gene sequencing have reduced the costs of testing and opened the door to a massive potential market.Invitae CEO Sean George told CNBC last week that the scenario for genetic testing is similar to what happened in the computing and networking industry around four decades ago. Lower semiconductor costs back then set the stage for an explosion in the market.How big could the explosion be in genetic testing? Invitae thinks that its total addressable market tops $150 billion annually. It projects that the genetic testing opportunity in senior adults ages 65 and over alone is around $63 billion. The company estimates that the potential genetic-testing market in adults between the ages of 41 and 65 totals around $60 billion.Invitae believes that it's at an inflection point in the transformation curve for genetic testing. As the company continues to drive costs lower and expands its menu of tests, it expects testing volumes to increase significantly.Better than Tesla?To be sure, Invitae hasn't been as big of a winner as Tesla so far. Over the last five years, thehealthcare stockhas quintupled in value. During the same period, however, Tesla skyrocketed close to 1,500%.But could Invitae be a better pick than Tesla over the long run? When asked in a Bloomberg interview in December which stock could fuel the biggest gains for ARK ETFs over the next five years, Wood acknowledged that Tesla is in the running. However, she also stated, \"The biggest upside surprises are going to come from the genomics space.\"That doesn't mean Invitae is necessarily the genomics stock that will emerge as the major surprise winner of the future. It could be, though.The company's market cap currently stands at only around $8.5 billion. Invitae could potentially be a 10-bagger if it snags a double-digit share of its addressable market. While Tesla has been remarkably successful, it's a stretch to envision the stock becoming a 10-bagger again.Invitae just might be a better buy than Tesla right now. Even if it's not, though, there's a really good chance the stock won't remain underappreciated for too much longer.","news_type":1},"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322066271,"gmtCreate":1615737858993,"gmtModify":1703492485504,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Hmmmmmmm","listText":"Hmmmmmmm","text":"Hmmmmmmm","images":[{"img":"https://static.tigerbbs.com/36f27d58dc046c5998017d88b165714a","width":"750","height":"2244"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322066271","isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":320219729,"gmtCreate":1615112534361,"gmtModify":1703484803970,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Ok cool","listText":"Ok cool","text":"Ok cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320219729","repostId":"1143578966","repostType":4,"repost":{"id":"1143578966","pubTimestamp":1614953473,"share":"https://www.laohu8.com/m/news/1143578966?lang=&edition=full","pubTime":"2021-03-05 22:11","market":"us","language":"en","title":"Elon Musk Says There's A Reason Why Only 2 US Carmakers Have Avoided Bankruptcy Out Of Thousands","url":"https://stock-news.laohu8.com/highlight/detail?id=1143578966","media":"Benzinga","summary":"Tesla IncTSLACEO Elon Musk said Thursday that his electric vehicle firm andFord Motor CompanyFwere t","content":"<p><b>Tesla Inc</b>TSLACEO Elon Musk said Thursday that his electric vehicle firm and<b>Ford Motor Company</b>Fwere the only American carmakers not to have gone bankrupt out of the thousands of startups operating in the industry.</p><p><b>What Happened:</b>Muskreasonedon Twitter that while “prototypes are easy, production is hard [and] being cash flow positive is excruciating.”</p><p>The entrepreneur also reacted to Twitter users who posted on the rivalry between the two companies' trucks.</p><p><img src=\"https://static.tigerbbs.com/0974f8b57b9ab04258d22e11c50d36ff\" tg-width=\"568\" tg-height=\"739\" referrerpolicy=\"no-referrer\"><b>Why It Matters:</b>In November 2018, Musk had said in aninterviewthat the “history of car companies in America is terrible.”</p><p>He had said at the time, “the only ones that haven’t gone bankrupt are Tesla and Ford. That’s it. Everyone else has gone bankrupt.”</p><p>Musk credited excruciating effort by him and hundred-hour weeks by Tesla employees for the survival of Tesla.</p><p>Musk had said that while<b>General Motors Company</b>GMand Chrysler&nbsp;— now a marque under<b>Stellantis NV</b>STLA— had already gone bankrupt, Ford and Tesla barely made it through a recession.</p><p>Musk had not seemed upbeat at Ford’s prospects in 2018 and said, “there’s a good chance Ford doesn’t make it in the next recession.”</p><p>In November, Musk revealed that Tesla was only amonth away from bankruptcyahead of the Model 3 rollout.</p><p>He said that it was “extremely difficult” to raise money for an electric car startup when peers like GM and Chrysler were going bankrupt.</p><p>“I put in my last money, even though I thought we would still fail. But, it was either that or certain death for Tesla.”</p><p>On Wednesday, it was reported that Tesla isbleeding Battery EV market shareto Ford Mustang Mach-E, as per Morgan Stanley.</p><p><b>Price Action:</b>Tesla shares fell 3.43% in the after-hours session on Thursday to $600.10 after closing the regular session 4.86% lower at $621.44. On the same day, Ford shares closed nearly 2% lower at $11.93 and fell almost 2.2% in the after-hours session.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk Says There's A Reason Why Only 2 US Carmakers Have Avoided Bankruptcy Out Of Thousands</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk Says There's A Reason Why Only 2 US Carmakers Have Avoided Bankruptcy Out Of Thousands\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 22:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/03/20025377/elon-musk-says-theres-a-reason-why-only-2-us-carmakers-have-avoided-bankruptcy-out-of-thousands><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla IncTSLACEO Elon Musk said Thursday that his electric vehicle firm andFord Motor CompanyFwere the only American carmakers not to have gone bankrupt out of the thousands of startups operating in ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/03/20025377/elon-musk-says-theres-a-reason-why-only-2-us-carmakers-have-avoided-bankruptcy-out-of-thousands\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/03/20025377/elon-musk-says-theres-a-reason-why-only-2-us-carmakers-have-avoided-bankruptcy-out-of-thousands","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143578966","content_text":"Tesla IncTSLACEO Elon Musk said Thursday that his electric vehicle firm andFord Motor CompanyFwere the only American carmakers not to have gone bankrupt out of the thousands of startups operating in the industry.What Happened:Muskreasonedon Twitter that while “prototypes are easy, production is hard [and] being cash flow positive is excruciating.”The entrepreneur also reacted to Twitter users who posted on the rivalry between the two companies' trucks.Why It Matters:In November 2018, Musk had said in aninterviewthat the “history of car companies in America is terrible.”He had said at the time, “the only ones that haven’t gone bankrupt are Tesla and Ford. That’s it. Everyone else has gone bankrupt.”Musk credited excruciating effort by him and hundred-hour weeks by Tesla employees for the survival of Tesla.Musk had said that whileGeneral Motors CompanyGMand Chrysler — now a marque underStellantis NVSTLA— had already gone bankrupt, Ford and Tesla barely made it through a recession.Musk had not seemed upbeat at Ford’s prospects in 2018 and said, “there’s a good chance Ford doesn’t make it in the next recession.”In November, Musk revealed that Tesla was only amonth away from bankruptcyahead of the Model 3 rollout.He said that it was “extremely difficult” to raise money for an electric car startup when peers like GM and Chrysler were going bankrupt.“I put in my last money, even though I thought we would still fail. But, it was either that or certain death for Tesla.”On Wednesday, it was reported that Tesla isbleeding Battery EV market shareto Ford Mustang Mach-E, as per Morgan Stanley.Price Action:Tesla shares fell 3.43% in the after-hours session on Thursday to $600.10 after closing the regular session 4.86% lower at $621.44. On the same day, Ford shares closed nearly 2% lower at $11.93 and fell almost 2.2% in the after-hours session.","news_type":1},"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161248859,"gmtCreate":1623931484471,"gmtModify":1631890829540,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"Wow!","listText":"Wow!","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161248859","repostId":"1175132084","repostType":4,"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196994324,"gmtCreate":1621003429368,"gmtModify":1631890829563,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"📈📈📈","listText":"📈📈📈","text":"📈📈📈","images":[{"img":"https://static.tigerbbs.com/77d155f991acb6d2c20261f75c3b36b1","width":"750","height":"1759"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/196994324","isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":350925157,"gmtCreate":1616152498679,"gmtModify":1634526983567,"author":{"id":"3571297325761462","authorId":"3571297325761462","name":"Qcumber","avatar":"https://static.tigerbbs.com/9e2e57e4f4eb4b7a08112e384eefa293","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571297325761462","idStr":"3571297325761462"},"themes":[],"htmlText":"On discount&nbsp;","listText":"On discount&nbsp;","text":"On discount","images":[{"img":"https://static.tigerbbs.com/7b1f8fa7fe2ecd666be395bab24d4de7","width":"750","height":"1880"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350925157","isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}