Nueva Democracia: Aug 23 2021 ND SIT EC y POL Part 1 and Part 2

Aug 23 2021 ND SIT EC y POL Part 1 and Part 2

ND denounce-neoliberal debacle y propone State-Social + Capit-compet in Eco

Sorry: I was blocked & my computer was damaged. Now is OK thanks to J Olson & Shira

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ZERO HEDGE ECONOMICS

Neoliberal globalization is over. Financiers know it, they documented with graphics

MOST MONEY-MARKET INSTRUMENTS SLIDE BELOW FED'S REVERSE REPO FLOOR AS COLLATERAL SHORTAGE GETS WORSE

by Tyler Durden

"With the supply and demand gap now having grown to $1.35 trillion, it’s not surprising that the Fed’s ON RRP is providing only a soft floor for money-market rates.”

With usage on the Fed's reverse repo hitting daily records as US Treasury supply shrinks as a result of a big drop in Bill sales, supply-demand imbalances continue to weigh on the U.S. dollar funding space as money-market rates, from Treasury bills to repurchase agreements, trade below the new yield on the Federal Reserve’s reverse repo facility.

As shown in the chart below, most Treasury bills through the 1Y tenor are yielding less than 0.05%, the yield on the Fed's Reverse Repo facility.

See Chart:

T-Bill Yields

https://cms.zerohedge.com/s3/files/inline-images/bill%20yields.jpg?itok=vZxRMfok

Also overnight GC repo opened at 0.04% before dipping to 0.03%, according to Oxford Economics

See Chart:

GC Repo vs O/N Rev. Repo Rate

https://cms.zerohedge.com/s3/files/inline-images/GC%20repo%202021-08-23_10-10-13.jpg?itok=6Zk911Yk

Just in case it wasn't obvious from the above charts, on Friday JPMorgan strategists Teresa Ho and Alex Roever wrote that "with the supply and demand gap now having grown to $1.35 trillion, it’s not surprising that the Fed’s ON RRP is providing only a soft floor for money-market rates.”

What is troubling is that even with the Fed’s taper, the distortion isn’t going to change any time soon, the strategists wrote echoing what we discussed previously namely that even if the Fed completes its asset purchases by August 2022, that still means there could be anywhere from $850b to $1t of additional liquidity injected into the financial system, further exacerbating the imbalance. A slower taper could mean as much as $1.5 trillion in new liquidity.

Adding to the confusion, Bloomberg notes that the timing of a debt-ceiling resolution remains “highly uncertain,” which suggests further declines in net Treasury-bill issuance.

“More QE and less T-bills mean higher RRP balances,” JPM wrote, adding that this is "something we have already seen as RRP usage has now surpassed $1.1t."

Finally, the latest money market distortion was flagged by Curvature's Scott Skyrm, who on Friday noted that last week overnight agency MBS collateral began trading below US Treasury collateral in the Repo market. While technically they're all obligations of the US government, Skyrm said that "since agencies are slightly less liquid and are GSEs instead of direct obligations, agency MBS will trade between 1 and 3 basis points above Treasurys overnight and between 4 and 7 basis points term - depending on the tenure." But as he noted, the overnight relationship flipped recently. Skyrm was unable to answer why.

See Chart:

GC / MBS Spread

https://cms.zerohedge.com/s3/files/inline-images/GC%20MBS.jpg?itok=KEUNCC0K

He also laid out the next question which is why would an investor take Fannie, Freddie, or Ginnie paper at a lower rate than Treasurys? One possible answer is that some cash investors are required to invest a certain amount of their cash in agencies - probably as an attempt to diversify. Under normal market conditions, that helps generate a couple of extra basis points, "but when the Fed's buying $40 billion of agency MBS paper a month, there's a lot less supply in the market", according to Skyrm. As the Curvature strategist concludes, "Bottom line - there's less agency MBS paper around in the Repo market and that's distorting rates" to which we can add that there is a shortage of every type of paper in the repo market and the Fed's reverse repo floor has now been completely breached as a result.

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SOURCE: https://www.zerohedge.com/markets/most-money-market-instruments-slide-below-feds-reverse-repo-floor-collateral-shortage-gets

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FAILURE IS NOT AN OPTION

The rally has gotten so persistent and steep that failure is not an option. Indeed markets MUST make new highs every week or risk the break of the trend...

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"VOLS ARE BEING PUKED INDISCRIMINATELY" - NOMURA EXPLAINS WHY STONKS HAVE SCREAMED HIGHER IN THE LAST 3 DAYS

by Tyler Durden

The same bulletproof conditioning that has been established over the past decade-plus: selling of “rich vols” into nascent volatility spikes

The dollar is down modestly, gold up significantly, and Treasury yields are unchanged this morning. But US equity markets are screaming higher, panic-bid since the cash markets opened...

See Chart:

S&P vs 30Y Yield

https://cms.zerohedge.com/s3/files/inline-images/bfm5BC1.jpg?itok=1nZMY0f-

The surge in stocks has been going on for 3 days now, with the cash market open being the dominant source of buying pressure...

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/2021-08-23_8-17-37.jpg?itok=eVSC7jXa

The narrative for today's surge is that headlines from the PBoC pledging to support the economy with “appropriate” money growth are driving gains (except that doesn't explain why stocks barely budged until the cash market opened).

It would appear that the S&P is rebounding back to the remaining upside Gamma at 4475 ($2.7B) and 4500 ($6.8B) beyond that, supported lower at 4450 ($3.8B)

See Chart:

SPX and S&P combined Gama

https://cms.zerohedge.com/s3/files/inline-images/image004%20%282%29.jpg?itok=ymhndDLI

Continue reading and see more charts at:

SOURCE: https://www.zerohedge.com/markets/vols-are-being-puked-indiscriminately-nomura-explains-why-stonks-have-screamed-higher-last

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MILLION-DOLLAR LISTING SPIKE SPARKS JUMP IN US EXISTING HOME SALES IN JULY

"Much of the home sales growth is still occurring in the upper-end markets,

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US PMIS PLUNGE IN AUGUST, COMPOSITE WEAKEST SINCE 2020

And The Fed is going to taper into this? [ See Chart ]

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KEY EVENTS THIS WEEK: ALL EYES ON THE JACKSON HOLE WEBCAST

The key event this week is Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. The key economic data releases are the durable goods report on Wednesday, the Q2 GDP report on Thursday, and core PCE

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FUTURES RISE AS JACKSON HOLE LOOMS, DOLLAR SLIDES, BITCOIN SURGES

by Tyler Durden

"We do not expect much of ‘breaking news’ to come from the Jackson Hole symposium, but rather some form of relief that the policy course remains lower for longer."

US stock-index futures gained along with global equities as concerns about China’s crackdown faded and as investors sought to take advantage of last week’s market weakness after Dallas Federal Reserve President Robert Kaplan said on Friday he’s open to adjusting his view that the central bank should start tapering its asset-purchase program sooner rather than later if the delta variant persists and hurts economic progress. Bond yields rose as demand for havens eased. Commodities also rallied after China announced no new cases suggesting the Delta scare is ending; The dollar was weaker and Bitcoin surged above $50,000, the highest level since mid-May. At 7am ET, Emini S&P futs were up 15 points or 0.34% to 4,452; Dow futures rose 158 points or 0.45% and Nasdaq futures were 40 points higher or 0.27%.

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/ES%202021-08-23_6-58-52.jpg?itok=IfoERPnK

Read more at:

SOURCE: https://www.zerohedge.com/markets/futures-rise-jackson-hole-looms-dollar-slides-bitcoin-surges

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US DOMESTIC POLITICS

Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption.

THOUSANDS OF AFGHAN REFUGEES LANDING AT DULLES AIRPORT, QUESTION OF "WHAT'S NEXT" LOOMS

"They have no clothes. Nothing," a nurse at the local community college giving shelter said.

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NYC ORDERS 150,000 TEACHERS & SCHOOL STAFF TO EITHER GET VACCINATED OR FIND A NEW JOB

"We know this is going to help ensure that everyone is safe..."

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DON'T BE FOOLED BY THE FED'S TAPER TALK

Ahead of a difficult midterm election challenge in 2022, the cynic would suggest that the Fed’s prospective monetary policy fits into a typical political cycle.

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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)

Global depression is on…China, RU, Iran search for State socialis, D rest in limbo

TALIBAN THREATENS BIDEN WITH "CONSEQUENCES" IF AFGHAN EVACUATION GOES PAST AUG. 31

"It's a red line...the answer is 'no'..."

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RUSSIA "READY" TO SHIP WEAPONS TO CENTRAL ASIAN ALLIES TO PREVENT TERRORISTS FROM FLOODING REGION

"...at special low prices."

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GERMANY WARNS SITUATION AT KABUL AIRPORT CONTINUES TO DETERIORATE AFTER LATEST KILLINGS

A member of the Afghan National Army was killed, and others were wounded, during the firefight, which was instigated by unidentified gunmen.

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SPUTNIK NEWS : https://sputniknews.com/

- 'Red Line': Taliban Warns of Consequences if US 'Occupation of Afghanistan' Extended

- As EU Officials Speak of 'Moral Duty', Bloc's States Reluctant to Take in Afghan Migrants

- Pakistan Supports 'Inclusive Government in Afghanistan'

- Keystone XL Pipeline Reportedly Spilled 11,000 Barrels of Oil in 2017 and 2019

- 'Our Life is On Hold, No Certainty About Anything': Afghans Live in Fear as Taliban Targets Panjshir

- Iran Set to Keep Supplying Shortages-Hit Lebanon With Fuel

- India to Sell 25 Airports, 160 Coal Mining Projects to Raise $81 Billion

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Aug 23 2021 PART 2 ND SIT EC y POL SPANISH ++

REBELION

Afganistan: Guerra contra Terrorismo es mentira y gran fiasco M V

Política en antropoceno: tiempo de desbordamiento e imaginación

Economia: NEGRA COMO EL CARBÓN Alejandro Marcó del Pont

FEM: La única solución para Afganistán es gobierno secular y democr

ALC: Filosofía, ética y pensamiento psicosocial hispanoamericano AO

Perú: LO QUE ESTÁ EN JUEGO P-2 Gustavo Espinoza

ALC: Desmantelamiento del Estado, y conflictividad en Uruguay NC

ARG: Qué hacer con los Derech Espec d Giro (DEG) que recibiremos?

ARG: Consumo y producc en el sube y baja, salarios por el suelo M H

Eco-Fem: Alternativas en defensa de la vida y el ambiente Lucía G

Opin: EL VOTO BORICUA Y JASMINE José Nicolás Medina

Cuba : Si no hay poder popular, no existe socialismo Caridad Massón

Cuba: Protestas, juicios y salidas legales: 11J en Cuba Alina Herrera

España: Siete respuestas al colectivo Nueva Revolución Iñaki Gil

MX: GOLPE POLÍTICO CONTRA AMLO José García

África: aislamiento por pandemia y violencia a presos saharauis CM

África: La venta d elefants en Namibia despiert poco interés Ed Holt

PAL-OM: Medicina y solidaridad bajo persecución Ramón Pedregal

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RT EN ESPAÑOL

Talibanes sitian a las fuerzas de la resistencia en la provincia de Panjshir https://actualidad.rt.com/actualidad/401694-talibanes-sitiar-fuerzas-resistencia-provincia-panjshir-afganistan

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Lavrov: "Nord Stream 2 fortalecerá seguridad energética de Europa en próx décadas" https://actualidad.rt.com/actualidad/401662-nord-stream-fortalecer-seguridad-energetica-europa

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Linea roja de Talibanes: seria consecuenc si tropas US no se retiran al 31 de agosto https://actualidad.rt.com/actualidad/401696-talibanes-advertir-consecuencias-eeuu-retirarse-afganistan-agosto

Ahora si están bien armados y con tropas de apoyo. China asegura la victoria final. Y al parecer RU ya envió dispositivos electrónicos de alto poder destructivo. La despedida al US será buena. Ahora si B-T pueden enviar sus terroristas blandenges, serán muy bien recibidos. La mejor parte ya la hicieron los talibanes. Lo que viene es ‘piece of cake’.

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Terroristas de allá vs terroristas de aquí. Los Talibanes son la horma del zapato d NATO. Exintérprete de la OTAN en Afganistán: "No sabíamos que algún día el US y la OTAN nos dejarían a merced de los terroristas" .. de los otros terroristas, debió decir https://actualidad.rt.com/actualidad/401706-exinterprete-otan-afganistan-taliban

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GLOBAL RESEARCH

Geopolitics & Econ-Pol crisis that leads to more business-wars from US-NATO allies

- The WHO Is Supporting Criminal Injections Falsely Called Vaccines? By Peter Koenig,

- Does the Virus Exist? Has SARS-CoV-2 Been Isolated? Interview with Christine Massey By Christine Massey

- “Our Species is Being Genetically Modified”: Humanity’s March Toward Extinction? Analysis of the Microbiome and Virome By David Skripac

- Why Masks Are a Charade By Dr. Joseph Mercola