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Stocks hit record highs as Fed tapering concerns ease

NEW YORK/LONDON (Reuters) -Global shares hit record highs Wednesday after data showed U.S. consumer price increases slowed in July, easing concerns that the Federal Reserve will imminently signal a scaling back of bond purchases. The data showed tentative signs inflation had peaked as supply-chain disruptions work their way through the U.S. economy. “This is a more moderate reading than expected, especially on the core,” said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York. Speculation is growing that the Federal Reserve Chair Jerome Powell will signal timings on tapering stimulus at a meeting of central bankers in Jackson Hole, Wyoming, on Aug. 26-28. Stronger-than-expected inflation data may have fuelled talk of an imminent slowing of the Fed’s bond purchases, said Craig Erlam, senior market analyst at OANDA Europe. “Instead, we can all breathe a little easier, albeit safe in the knowledge that tapering is still coming and it’s likely to be announced next month,” he said. U.S. non-farm payrolls figures due in September could also influence tapering if they are particularly strong. It may take a few months more for the U.S. job market to recover enough that the Federal Reserve can reduce its crisis-era support for the economy, Richmond Federal Reserve Bank President Thomas Barkin told Reuters. The MSCI all-country index, a gauge of stocks across the globe, hit a record high and was last trading up 0.25%. The Dow Jones Industrial Average and S&P500 also hit record highs, with sentiment boosted by U.S. lawmakers approving a trillion-dollar infrastructure package Tuesday. The Dow Jones Industrial Average rose 190.03 points, or 0.54%, to 35,454.7, the S&P 500 gained 7.22 points, or 0.16%, to 4,443.97 and the Nasdaq Composite dropped 34.91 points, or 0.24%, to 14,753.18. European shares also hit record highs, clocking their longest winning streak in two months. The STOXX 600 index rose 0.4% to hit an all-time high for an eighth consecutive session.

OIL GAINS, TREASURY YIELDS FALL

Oil gained Wednesday, changing course after the Biden administration said it would not call on U.S. producers to increase crude output, and that efforts to increase OPEC production were a longer-range plan.

U.S. crude oil futures settled at $69.25 per barrel, up 96 cents or 1.41%. Brent crude futures settled at $71.44 per barrel, up 81 cents or 1.15%.

U.S. Treasury yields fell in choppy trading, following a strong 10-year note auction. 10-year yields dropped to session lows, falling from four-week peaks earlier in the session.

Benchmark 10-year notes rose 4/32 in price to yield 1.3303%, down from 1.342% late on Tuesday.

Gold prices jumped following the inflation data.

U.S. gold futures settled up 1.2% at $1,753.30.

Spot gold added 1.4% to $1,752.72 an ounce. U.S. gold futures gained 1.23% to $1,750.40 an ounce.

The dollar index fell 0.189%, with the euro up 0.19% to $1.174.

Asian shares had slipped as fears about further waves of the coronavirus dampened a positive lead from Tuesday’s record close on Wall Street.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3%.

The Delta variant of the new coronavirus is spreading quickly in many Asian countries, raising fears about local restrictions on travel and other activity damaging the economic recovery. Stocks hit record highs as Fed tapering concerns ease

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Stocks hit record high as tapering concerns ease

  • CPI data shows inflation moderating in July
  • MSCI all-country index hits record high
  • S&P500, Dow Jones Industrial average hit records
  • European stocks hit new peak
  • Oil dips on report of White House call for more output

NEW YORK/LONDON, Aug 11 (Reuters) – Global shares hit a record high Wednesday after data showed U.S. consumer price increases slowed in July, easing concerns that the Federal Reserve will imminently signal a scaling back of bond purchases. Some investors believed the data showed tentative signs inflation has peaked as supply-chain disruptions work their way through the U.S. economy. “This is a more moderate reading than expected, especially on the core,” said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York. Speculation has mounted that the Fed will signal timings on tapering stimulus at a meeting of central bankers in Jackson Hole, Wyoming, on Aug. 26-28. Stronger-than-expected inflation data would have fuelled that talk. U.S. non-farm payrolls figures due in September could also influence tapering if they are particularly strong.It may take a few months more for the U.S. job market to recover enough that the Federal Reserve can reduce its crisis-era support for the economy, Richmond Federal Reserve Bank President Thomas Barkin told Reuters.  The MSCI all-country index (.MIWD00000PUS), a gauge of stocks across the globe, rose 0.27% to a fresh record high. The Dow Jones Industrial Average (.DJI) and S&P500 (.SPX) also hit record highs in early trade with sentiment boosted by U.S. lawmakers approving a trillion-dollar infrastructure package Tuesday.  The Dow Jones Industrial Average (.DJI) rose 210.55 points, or 0.6%, to 35,475.22, the S&P 500 (.SPX) gained 10.38 points, or 0.23%, to 4,447.13 and the Nasdaq Composite (.IXIC) dropped 11.09 points, or 0.07%, to 14,777.00. In Europe, the STOXX (.STOXX) index of leading companies hit a new peak for an eighth consecutive session as more acquisitions and steady corporate earnings underpinned the economic outlook.

OIL DIPS, DOLLAR GAINS

Crude oil prices fell below $70 a barrel, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to combat escalating gasoline prices.

Asian shares had slipped as fears about further waves of the coronavirus dampened a positive lead from Tuesday’s record close on Wall Street.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) lost 0.3%. “What’s clearly separating Asian shares from Wall Street is the difference in vaccination. Low vaccination rates in Asia are proving to be fatal in dealing with the Delta variant,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

The Delta variant of the new coronavirus is spreading quickly in many Asian countries, raising fears about local restrictions on travel and other activity damaging the economic recovery.

Spot gold added 0.8% to $1,742.70 an ounce. U.S. gold futures gained 0.56% to $1,738.50 an ounce. Nick Note: I have a different take on all this. I am sure your not surprised. Inflation at 5+% per year is NOT moderating inflation. And Asia has been 6 months ahead of the US since the start of this pandemic. The plague is still with us and still mutating. The great white hope is a vaccine that half of Americans refuse to take. And a vaccine that is waning and infecting vaccinated people as well as kiliing the ativax people in mass. Did anyomne notice in good ole boy country the fact the hospitals are filling up…. This does not seem to be a hopeful situation to me. I believe we are flirting with disaster. Especially if they are so foolish as to open the schools so we can give the kiddies a new experience. A ventilator at a hospital decorated with Disney characters….

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Experts Predict What The Next COVID-19 Variants Will Be Like

Alpha, beta, gamma, delta — there have been four COVID-19 variants of concern that have altered the course of the pandemic at different points in the past year and a half. First came the alpha variant, first detected in the United Kingdom, that was more transmissible and caused the surges behind the winter wave of the pandemic. The beta variant came next, triggering outbreaks in South Africa, along with gamma, the variant that took hold of Brazil in January. Now we have delta ― definitely more transmissible, potentially more virulent (though it’s hard to know for sure), and a huge problem for those who remain unvaccinated. Every day brings new concerning headlines about this variant or that mutation, which brings up the natural question: What’s next? To better understand what the next round of variants might look like, we need to take a look at what we’ve learned so far about how this coronavirus changes. Each time the virus infects a new cell, it starts to makes copies of itself — and as it copies, it makes random changes (known as mutations) all over the place. Most mutations aren’t useful and die out, but some can be tolerated and passed on, said Ben Neuman, chief virologist at Texas A&M University’s Global Health Research Complex. Coronaviruses are typically slow changers — they mutate, as any virus does, but they don’t evolve at an alarming rate.

What shocked scientists is the rate of evolution, or how quickly these variants of concern acquired new mutations, according to Nathan Grubaugh, an evolutionary virologist and associate professor of epidemiology at the Yale School of Public Health.

In general, the coronavirus acquires about one or two mutations a month. But the variants of concern have acquired many more mutations much more quickly. Alpha, for example, didn’t just acquire one or two mutations, it picked up 17. The leading hypothesis is that it took a prolonged infection ― probably in an immunocompromised person whose body had a tough time clearing out the virus ― to collect this many mutations so rapidly. From there, the virus spread to somebody else before taking off and shooting through entire communities. According to Grubaugh, the same sort of rapid increase in mutations was identified with the beta variant detected in South Africa and the gamma variant that popped up in Brazil. “This phenomenon that we’re watching, of these variants that arise very quickly, I think caught a lot of us off guard,” Grubaugh said. It’s impossible to predict exactly what future variants will look like, but it’s pretty undeniable that we are going to see new variants emerge. “We haven’t seen the end of variants and we certainly haven’t seen the end of variants that are more transmissible,” Grubaugh said. The development of new variants that rise to the level of concern is actually extremely rare. There have probably been hundreds of thousands of events where a host of new mutations have occurred, but those versions of the virus weren’t very fit so they died out before becoming a variant of concern. Just because the virus evolves, doesn’t mean it’s going to become a variant of concern.

But, when you give the virus so many different opportunities to infect new people, it will inevitably test out new variations. As long as there are people for SARS-CoV-2 to infect, the coronavirus will continue to evolve.

“We know that most of the variants we see emerge from people who are not vaccinated,” said Dirk Dittmer, a virologist at the University of North Carolina’s School of Medicine who is currently working on a variant tracking project in North Carolina. We’ve never seen anything like SARS-CoV-2 before. We’ve never had a pandemic of this scale with so much global mixing. A variant that pops up in Brazil can be in Japan or the United States in a moment’s notice, Grubaugh said. What happens around the globe is going to impact the rest of the world — we aren’t living in a vacuum. This makes it a lot harder to predict what’s going to emerge and where. All that said, the scientists who study the evolution of viruses have some theories. Grubaugh said the next generation of variants could be just like delta, but better at what they do — probably more transmissible, maybe a little bit more successful at reinfecting people who were previously diagnosed with COVID-19. (We know the vaccines produce a more robust immune response than natural infection does.) Neuman predicts somewhat the same. In July, scientists identified that 90% of the SARS-CoV-2 genomes were in the genetic group that fell under the delta variant. Because of that, “the most likely bet is that future strains will look like delta, but with extra changes,” Neuman said.

Gamma and delta both are slightly better at evading immunity compared to alpha and the other earlier variants. To Neuman, it seems reasonable to speculate that the current versions of the vaccines we’re using will eventually be less effective against newer variants.

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Oil drops on China fuel demand concerns as Delta coronavirus surges

MELBOURNE/SINGAPORE, Aug 11 (Reuters) – Oil prices dipped on Wednesday as analysts cut their forecasts for fuel demand in China following mobility curbs from the spread of the highly infectious Delta variant of the coronavirus, offsetting a bullish outlook for U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 18 cents, or 0.3%, to $68.11 a barrel at 0500 GMT, after a 2.7% jump on Tuesday. Brent crude futures dropped 16 cents to $70.47 a barrel, following a 2.3% gain on Tuesday. While both contracts have reclaimed their 100-day daily moving average, a technical chart indicator, they appeared to lack the momentum to stage meaningful revivals as Delta variant fears continued to weigh on markets, said Jeffrey Halley, OANDA’s senior market analyst for Asia Pacific. “Short-term momentum has waned quickly in Asia,” he added. Beijing has imposed travel curbs that will reduce fuel demand in the world’s second-largest oil consumer, prompting Goldman Sachs to cut its demand forecast for China by 1 million barrels per day for the next two months. “Our base case remains that the Delta wave will impact demand – including in China – for only two months, consistent with prior cycles, including most recently in India,” the bank said. Industry data showed U.S. crude oil and gasoline inventories fell last week, while the U.S. Energy Information Administration raised its forecast for fuel demand in 2021 and said consumption in May through July was higher than expected, supporting prices. U.S. crude stocks fell by 816,00 barrels and gasoline stocks fell by 1.1 million barrels in the week ended Aug. 6, according to two market sources, citing data from the American Petroleum Institute. Both drawdowns were a bit smaller than analysts polled by Reuters had expected. The EIA’s monthly report showed that the need for supply from the Organization of the Petroleum Exporting Countries (OPEC) will exceed OPEC supply by 1 million barrels per day in the third quarter and by 300,000 bpd in the fourth quarter of 2021, Commonwealth Bank commodity analyst Vivek Dhar said in a note. “With OECD commercial crude oil stockpiles having dropped back to pre‑COVID levels already, a tightening oil market outlook will likely amplify oil price gains,” he said. Nick Note: This is all well and good. BUT as usual what they forget to tell you is the US is quietly banning foreign travel. AND country after country is shutting down visitors from America. Remember 40% of transportation fuel is consumed by air liens in good times. China and Asia and throw in Australia is sucking shut. The travel and leisure industry have become masters at blowing blue sky up our collective asses.Notice how their are no studies or even data collection of people who become infected after traveling……99% of the corona-19 spread has been by international travelers on airlines. As we speak their are two other mutations ravishing other parts of the world. I am VERY concerned about the The beta variant  outbreaks in South Africa, along with gamma variant that is ravishing Brazil. More on this in other news postings. Yes i believe our test kits will pick up these variants.If they would just halt all air travel for 3 weeks and TEST the shit out of everyone like the china model and these variants will burn themselves out…. We both know that will not happen until its to late

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US Senate passes $1T bipartisan infrastructure bill

The Senate on Tuesday passed a roughly $1 trillion bipartisan infrastructure deal, a significant win for President Biden and the first step on his top legislative priority. Senators voted 69-30 on the bill, which was spearheaded by a bipartisan group of senators led by Sens. Kyrsten Sinema (D-Ariz.) and Rob Portman (R-Ohio). Nineteen GOP senators voted with all Democrats to pass the legislation. The bill is now heading to the House, where it faces an uncertain future and skepticism from progressives. Speaker Nancy Pelosi (D-Calif.) has vowed she won’t take it up until the Senate passes the second part of its infrastructure two step, a sweeping $3.5 trillion spending package that includes Democrats’ top priorities. But the Senate’s passage of the bipartisan measure on Tuesday gives a victory for Biden and the centrist-minded group that led the legislation, and placed big bets and months of time on the ability to get a bipartisan deal on infrastructure, one of Washington’s long-running legislative white whales. “Congress has talked about truly modernizing our nation’s infrastructure for as long as we can remember. The United States Senate delivered so that we can finally give the American people the safe, reliable, and modern infrastructure they deserve,” Portman, Sinema and the eight other senators who were the core negotiators said in a joint statement after the vote. And underscoring the bill’s importance to the administration, Vice President Harris presided over the vote even though she wasn’t needed to break a tie. The bipartisan deal includes roughly $550 billion in new funding, making it substantially smaller than the $2.6 trillion proposed by Biden earlier this year. It includes money for new investments for infrastructure projects like roads, bridges, broadband, water and rail. According to a Congressional Budget Office (CBO) analysis, the bill would add $256 billion to the deficit, though negotiators argue that “hard” infrastructure projects pay for themselves over time and that CBO didn’t give them full credit for their work.

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Wuhan’s ‘bat woman’ virologist warns more COVID mutations are coming

https://youtu.be/bbYngJYy1GQ

  • Shi Zhengli told Chinese state media that the virus will continue to mutate.
  • The delta variant was first discovered in India and is now the dominant strain of COVID-19.
  • Scientists are also monitoring the lambda variant, which is becoming a prominent strain in South America.

The head of the Wuhan Institute of Virology (WIV) warned that the coronavirus virus will continue to mutate, and urged people to continue to get vaccinated.  Virologist Shi Zhengli told the South China Morning Post that the world will need to prepare to coexist with the virus as it continues to mutate and spread across the globe. “As the number of infected cases has just become too big, this allowed the novel coronavirus more opportunities to mutate and select,” Shi said, according to the South China Morning Post. “New variants will continue to emerge.”

The delta variant has quickly become the dominant COVID-19 strain and is driving a surge in cases around the world. Scientists are also monitoring the lambda variant, which is becoming a prominent strain in South America.

In the U.S., for instance, the delta variant accounts for 75 to 80 percent of cases in the Midwest and upper mountain states as of July, according to data from the Centers for Disease Control and Prevention (CDC) and reporting from Healthline. In July, the CDC warned in an internal document that the delta variant could cause more severe illness and spread as easily as chickenpox, stating: “the war has changed.” Michael Osterholmm, the director for the Center for Infectious Disease Research and Policy at the University of Minnesota, told Newsweek that “a delta on steroids” could also possibly emerge. Shi and her role at the Wuhan Institute of Virology have been met with skepticism from many, particularly among Republican leaders in the U.S. A recent Republican-led investigation from the House Foreign Affairs Committee alleges that Shi, along with other researchers and officials associated with the lab, lied about the origins of COVID-19 and worked to cover up the leak of the virus and the research being done at the lab. Nick Note Shi says more  Mutants are coming… Each one more infectious and deadlier… So far she has been proven right… And she should know at the least she discovered the covid 19 in bats. AND she may even be helping the mutations along with her gene splicing scissors. SO you still need to keep up with your vaccines, CoronaVits and testing……..

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Deadly new Covid variant could kill one in three people, warns SAGE

Mutant strain could lead to a return to tighter restrictions and lockdowns, while delivering another huge economic blow to the country

A new variant of Covid that kills one in three people is a “realistic possibility”, scientists have warned. A report by SAGE – the Scientific Advisory Group for Emergencies – says the future strain of coronavirus could be as deadly as MERS. MERS (Middle East Respiratory Syndrome) is caused by another type of coronavirus and kills 35 per cent of those it infects. It was first recorded in Saudi Arabia in 2012. And science advisors to the Government fear that a new version of the Covid-19 virus could be just as much of a threat. Mutations are most likely to occur when the virus is widespread – as it is currently in the UK. The emergence of such strains could lead to a return to tighter restrictions and lockdowns, while delivering another huge economic blow to the country, Scientists suggested the new strain could be resistant to vaccines if it evolved from the jab-resistant ‘South Africa’ Beta variant along with the more transmissible Alpha or Delta variants.

Dr Philippa Whitford, vice-chair of the All-Party Parliamentary Group on Coronavirus, urged those in charge to pay attention to the alarming report

“This report, which should have sent shock waves through the UK Government, was instead quietly snuck out among a glut of reports during parliamentary recess,” she told Mail Online. “Recommendations and comments made by SAGE bring home the simple reality — that we have not yet ‘defeated’ this virus.” In another report, scientists warned that the protection offered by vaccines against coronavirus infection and potentially severe disease is likely to diminish over time. As a result, vaccine campaigns will have to continue for years to come.

The document, titled “How long will vaccines continue to protect against COVID?”, was written by prominent virologists and epidemiologists from Imperial College London, University of Birmingham and Public Health England.

Britain has approved and is using three vaccines – Oxford-AstraZeneca, Pfizer-BioNTech and Moderna – in a programme that started in December 2020. Data shows that these vaccines protect with 95 per cent or greater effectiveness against the Alpha variant that dominated in Britain in early 2021, the scientists said, although the ability of the shots to protect against infection and onward transmission was lower. They said it vaccines could remain effective against severe disease but effectiveness against mild disease and infection could fall off over time. Anecdotal reports from Britain and Israel, which rolled out a comprehensive early campaign, supported that concept, they said. France,  Israel. Germany and Great Britain will begin offering a third shot of the Pfizer-BioNTech COVID-19 vaccine to people aged over 60, a world-first in efforts to slow the spread of the highly contagious Delta variant.

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U.S. Treasury yields extend rising run on Fed taper talk

LONDON, Aug 10 (Reuters) – Global shares hovered below record highs on Tuesday, while anticipation of earlier tapering of bond-buying by the Federal Reserve pushed U.S. 10-year Treasury yields to their longest rising run in six months. The dollar also scaled a four-month high versus the euro as investors looked ahead to U.S. inflation numbers on Wednesday for further indications of when the world’s largest economy may start to withdraw stimulus after taper talk was amped up by strong jobs data. European shares pushed to fresh record highs, with the STOXX 600 (.STOXX) 0.2% stronger to extend its gains to a seventh straight session, boosted by travel and leisure companies. Nasdaq futures added 0.1% and S&P 500 futures were flat as investors awaited progress towards the passing of a much-anticipated infrastructure bill.  The U.S. Senate has set a vote on passage of the $1 trillion bipartisan infrastructure bill for 11 am ET (1500 GMT), after which it would immediately begin to debate $3.5 trillion in additional investments. Activity, meanwhile, was heating up in bond markets. Indications in recent days of an improving labour market have prompted investors to rethink the outlook for U.S. monetary policy, halting recent sharp falls in both U.S. and European bond yields. U.S. 10-year Treasury yields scaled their highest in over three weeks, extending the longest run of gains since early February.The benchmark 10-year yield rose to as high as 1.336% in London trade and is up almost 20 basis points from six-month lows hit last week. “Risks remain. While inflation data has so far not been a major market mover, Wednesday’s July consumer price index release has the potential to cause volatility, especially given expectations that inflation has passed the peak,” said Mark Haefele, chief investment officer, UBS Global Wealth Management. Adding fuel to the debate, two Fed officials said on Monday that while the labour market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.  Data on Monday showed that U.S. job openings shot up to a fresh record high in June and hiring also increased. That followed Friday’s non-farm payroll report showing jobs increased by a larger-than-expected 943,000 in July.  While signs of economic recovery in the U.S. are reviving reflation trade bets, investors remain wary of the lingering risks posed by COVID-19. China on Monday reported more COVID-19 infections in what seems to be its most severe resurgence of the disease since mid-2020, as some cities added rounds of mass testing in a bid to stamp out infections.  MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.4% after trading much of the day in the red as worries weighed about the spread of the Delta variant. With tapering expectations gaining traction, the dollar extended its gains made on Friday and Monday. The dollar index reached an 18-day high of 93.102 on Tuesday, while the euro hit a new four-month low against the dollar, with the pair changing hands at $1.1716 . Gold prices recovered after touching a four-month low on Monday, with spot gold little changed at $1,729.80 per ounce. Oil prices rose more than 1% on Tuesday, recouping some of the losses in the previous session when prices hit a three-week low. U.S. crude oil futures were trading at $67.66 per barrel, up $1.17 or 1.76%. Brent crude was at $69.98, 1.36% higher. U.S. oil was up 1.7%, at $67.56 a barrel. Nick Note: This is a very confusing market. Let me try to add clarity. The FED has fucked up royally. they have to fight a flood and a fire at the same time. They over stimulated the economy and sparked off massive inflation… Which is a shit storm on the near horizon. The market got it all wrong and drove rates on our beloved zero’s to 1.8% area where i had you take profits as the stupid money panicked and mindless chased yield. This got so silly that THE AVERAGE YIELD ON JUNK BONDS WENT UNDER 2%… LET ME PUT IT THIS WAY THEIR IS A WHOLE LOT OF FUCKING GOING ON. The bottom i believe in yields has been put in. The Fed will soon panic and slam on the brakes and i see them driving rates 300 to 400 bases points higher. That will allow us to buy back our zeroes principal portion starting at a span of 2,5% to 5.5%. I will advise. The slamming on the brakes besides giving a huge jump in interest rates will bring a massive decline in the Fed stimulation which is now out of control.  The dreaded tapering. Here is how this goes. The FED will stop buying mortgage, corporate and treasury paper collapsing all these markets. This will occur in earnest after Powell is thrown out on his ass because run away inflation and becomes the fall guy. The fed will panic and crash the stock market with a lot of help from wave after wave of the covid-19 epidemic that will be difficult to control….. They cannot vaccinate enough people fast enough with vaccines targeted to the three variants coming down the pike. The Delta+,  the Beta and Delta variants merging and a super mutant strain i here rumors that may be circulating in third world shit holes….. And that means they they will reverse tighter monetary policy forget about inflation and try to save the economy much like 2008. They will drive interest rates to double digit negative…..

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Powell reportedly faces growing resistance for second term as Fed chair

It will boil down to either Powell or Brainard for top dog at the Fed
The latest story by the WSJ says that while Biden’s economic team is generally supportive of Powell sticking around for a second term as Fed chair, some Democrats are pushing for a central banker more in sync with the party’s priorities. The report adds that there are members at the camp, including prominent Democrat Elizabeth Warren, who are displeased with Powell’s approach to financial regulation and may prefer a change at the helm, citing people familiar with the matter. For some context, Powell’s term is due to expire in February next year. As such, this will be more of a hot topic in the months ahead, so be sure to keep an eye on the reports and how things are progressing. Nick Note: Powell will not only NOT get reappointed…. They will tar and feather him and run him out of town on a rail. By the time February rolls around inflation will be out of control and the economy will be reeling from the coming Delta mutation lock downs… And lock downs will be voluntary since people on a ventilators do not show up for work and do not shop on Amazon.
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FTSE 100 slips as virus fears outweigh gains in travel stocks

https://youtu.be/JcMTI-0gFhs

London’s FTSE 100 slipped on Tuesday as fears over a spike in global COVID-19 cases dented optimism about strong corporate earnings, while Flutter Entertainment jumped after saying it expected its U.S. business to turn a profit by 2023. The blue-chip FTSE 100 inched 0.1% lower as gains in travel and leisure stocks were outweighed by weakness in heavyweight banks, which tracked benchmark bond yields lower. Travel stocks have gained nearly 12% since the UK eased lockdown restrictions on July 19. The industry has been among the top sectoral performers this month on optimism travel demand would pick up pace, but still underperforms the mid-cap and blue-chip indexes. “The outlook for travel and leisure stocks is kind of mixed at the moment, with most shares clocking gains but still being off their highs due to rising uncertainties regarding the Delta variant,” said Michael Hewson, chief market analyst at CMC Markets. The domestically focussed mid-cap index climbed 0.3% with sports goods retailer Frasers being the top gainer, as surveys showed sporting events and the summer holidays prompted a big increase in British consumer spending in July. The FTSE 100 has gained 10.4% so far this year on re-opening optimism and record-low interest rates, but a recent jump in global coronavirus infections and rising inflation have spurred worries that central banks could pull back support sooner than expected. Among stocks, British insurer and asset manager M&G dropped 1.4% to the bottom of the FTSE 100 even after it posted an above-forecast 6% rise in first-half operating profit and said it was on track to meet its end-2022 capital generation target. Nick Note: I publish this story for one reason. I want you to understand that they are willing to create a fall crises so the travel industry can get their August vacation revenue. Really really really all travel globally should be stopped… Including cruise ships. Restaurants and hotels should be closed. Do a partial lock down now and avoid the coming fall and winter crises. They just can not do it. We like in a time where we deny science….. The horror of all horror is opening up schools. Their is NO WAY to protect the children who the new variant infects and hospitalizes. Like they are pandering to the airlines and the travel and hotel lobby they are pandering to working women who use the schools as baby sitters instead of being mothers which is not cool. How do i know mothers are suppose to be the care givers of children… Why its because they got those two feeding machines on their chest. My millennial’s hate me when I say this its complicated.  LGBTQ+. is the new boys and girls sub categories.  ITS AL TOO CONFUSING TO ME. binary non binary. Talk about making something very simple very complicated. If it got a dick its a boy and if its got a pussy its a girl… Now do not get me wrong here if you want to put your dick in a asshole that is not my business,,,, Or if your a girl and you want to lick girls pussies or use silicone rubber tools of the trade again its not my business.. If you want a sex change carry on.  For me i believe in purposely built tools. A dick is designed for a pussy. If it ain’t broke don’t fix it. Now if your a girl trapped in a mans body get a job in the fashion industry. And if your a man trapped in a women’s body take up extreme boxing and get over it… Call me old fashioned…..