The Money GPS

TOPICS AND TIMESTAMPS:

Big Developments 0:00

MARKET TURBULENCE 0:44

HUNGRY INFLATION 4:21

EVERGRANDE DEEP 7:20

$GPS INSIGHTS

#1 MARKETS HAVEN’T HAD A 5% PULLBACK IN MANY MONTHS

#2 INVESTORS IMMEDIATELY BOUGHT THE DIP, REFUSING TO WAIT

#3 CRISIS WITH EVERGRANDE HAS NOW SPREAD, BE MINDFUL

High-Pressure Week for Global Markets Starts With Steep Losses - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-20/wall-of-worry-builds-as-key-week-for-markets-has-shocking-start

Stock market today: S&P 500 falls 1.7% for its worst day since May, Dow sheds 600 points

https://www.cnbc.com/2021/09/19/stock-market-futures-open-to-close-news.html

China Property Fear Spreads Beyond Evergrande, Roiling Markets - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-20/hang-seng-property-index-drops-on-real-estate-financial-woes

Deserted Factories Show How China Electric Car Boom Went Too Far - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-20/deserted-factories-show-how-china-electric-car-boom-went-too-far

Junk-Debt Sales Soar Toward Record Year - WSJ

https://www.wsj.com/articles/junk-debt-sales-soar-toward-record-year-11632043982

Earnings Alarm Bells Ringing for Market Showing Signs of Fatigue - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-18/earnings-alarm-bells-ringing-for-market-showing-signs-of-fatigue

Unprecedented Inflation? That's What CEOs See - Bloomberg

https://www.bloomberg.com/opinion/articles/2021-09-17/unprecedented-inflation-that-s-what-ceos-see?srnd=premium&sref=RJ2RlMrh

Washington gridlock and a debt ceiling showdown are weighing on the market

https://www.cnbc.com/2021/09/20/washington-gridlock-and-a-debt-ceiling-showdown-are-weighing-on-the-market.html

pmis headed lower vs spx.jpg (1233×431)

https://cms.zerohedge.com/s3/files/inline-images/pmis%20headed%20lower%20vs%20spx.jpg?itok=KmHgEVK7

Chinese Property Developer Sinic Halts Trading After Sinking 87% - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-20/chinese-property-developer-halts-trading-after-plunging-87

China property fear spreads beyond Evergrande, roiling markets - BNN Bloomberg

https://www.bnnbloomberg.ca/hong-kong-stocks-sink-as-evergrande-woes-spread-ping-an-tumbles-1.1654466

Weekly Commentary: Evergrande Moment | Seeking Alpha

https://seekingalpha.com/article/4456020-weekly-commentary-evergrande-moment

Evergrande bosses face ‘severe punishment’ after securing early redemptions | Financial Times

https://www.ft.com/content/d94b4689-b488-4d1b-b107-0843170736ea

Cover Story: How Evergrande Could Turn Into ‘China’s Lehman Brothers’

https://www.caixinglobal.com/2021-09-20/cover-story-how-evergrande-could-turn-into-chinas-lehman-brothers-101775596.html

Goldman china channels from proeprty market to economy.jpg (877×399)

https://cms.zerohedge.com/s3/files/inline-images/Goldman%20china%20channels%20from%20proeprty%20market%20to%20economy.jpg?itok=NPZ0mCSX

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https://cms.zerohedge.com/s3/files/inline-images/Goldman%20three%20scenarios%20china%20property.jpg?itok=zLd_JYqQ

Surging Fertilizer Costs Risk Making Food Even Pricier Next Year - BNN Bloomberg

https://ampvideo.bnnbloomberg.ca/surging-fertilizer-costs-risk-making-food-even-pricier-next-year-1.1654481

TOPICS AND TIMESTAMPS:

Epic Proportions 0:00

CHINA STOCKS 0:34

FED SOLD ALL 4:07

INFLATION STIMULATION 8:05

$GPS INSIGHTS

#1 MARKETS BEGIN TO WORRY ABOUT CONTAGION IN HONG KONG

#2 FED MEMBERS SOLD STOCKS AND FED ITSELF SOLD CORPORATE BONDS

#3 INVESTORS ARE UNPREPARED AND MUST ASSESS PORTFOLIO

Hong Kong's Hang Seng index drops 4% as Evergrande shares plunge

https://www.cnbc.com/2021/09/20/asia-stocks-markets-in-china-japan-south-korea-closed-for-holidays.html#:~:text=Asia%20Markets-,Hong%20Kong's%20Hang%20Seng%20index%20drops%202%25%20as,shares%20plunge%20more%20than%2010%25&text=Hong%20Kong's%20Hang%20Seng%20index%20led%20losses%20in%20Monday%20trade,closed%20on%20Monday%20for%20holidays.

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https://cms.zerohedge.com/s3/files/inline-images/hang%20seng%20property%209.19.jpg?itok=_pgOTGiS

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https://cms.zerohedge.com/s3/files/inline-images/Hang%20Seng%209.19.jpg?itok=FM9q_J_9

(4) Cassandra (@michaeljburry) / Twitter

https://twitter.com/michaeljburry?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

fed sold off SMCCF portfolio.jpg (1115×764)

https://cms.zerohedge.com/s3/files/inline-images/fed%20sold%20off%20SMCCF%20portfolio.jpg?itok=lL2ZheN9

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https://cms.zerohedge.com/s3/files/inline-images/Fed%20unwinds%20corporate%20bonds.jpg?itok=G4lWBEkr

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https://cms.zerohedge.com/s3/files/inline-images/july%20TIC%20corporate%20bonds.jpg?itok=OPEslqh-

Yellen Renews Call to Raise Debt Limit to Avoid ‘Catastrophe’ - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-19/yellen-renews-call-to-raise-debt-limit-to-avoid-catastrophe?srnd=premium-canada

The Taper That Will Really Bite Into U.S. Growth Isn’t the Fed’s - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-19/the-taper-that-will-really-bite-into-u-s-growth-isn-t-the-fed-s?srnd=premium-canada

LA/LB ports to test expanded night, weekend hours - FreightWaves

https://www.freightwaves.com/news/lalb-ports-to-test-expanded-night-weekend-hours

Used Car Prices on the Rise, Raising Inflationary Specter - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-17/used-car-prices-in-u-s-rise-again-in-first-half-of-september?sref=RJ2RlMrh

ManheimUsedVehicleValueIndex-LineGraph.png (2866×3049)

https://publish.manheim.com/content/dam/consulting/ManheimUsedVehicleValueIndex-LineGraph.png

Used Vehicle Value Index

https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html

Suburbs take center stage as U.S. growth slows

https://www.nbcnews.com/news/us-news/suburbs-take-center-stage-u-s-growth-slows-n1279305

TOPICS AND TIMESTAMPS:

Evergrande 0:00

MICHAEL BURRY 0:37

WHO OWNS IT? 7:49

NO BAILOUT? 10:07

$GPS INSIGHTS

#1 MICHAEL BURRY WAS WARNING IN 2005 ABOUT SUBPRIME

#2 SUGGESTING HERE THAT A DEBT CRISIS CAN ERUPT ANYWHERE

#3 HAVE RESPECT FOR THE POWER OF MARKETS AND SPEED OF CHANGE

Michael Burry Archive (@BurryArchive) / Twitter

https://mobile.twitter.com/burryarchive/

Girolamo Pandolfi da Casio ditto Carlo Dossi Erba on Twitter: "Evergrande: why most analysis is dead in water and how best to understand and navigate what’s happening? Both denialists and alarmists are getting it wrong. Let’s start by understanding this: what is happening is the result of a CCP-initiated policy change to curb leverage. 1/N" / Twitter

https://twitter.com/INArteCarloDoss/status/1438944431734919175

Wall Street yawns as China property giant nears default: What investors need to know - MarketWatch

https://www.marketwatch.com/story/wall-street-yawns-as-china-property-giant-nears-default-what-investors-need-to-know-11631908197

Evergrande debt crisis: 5 things to know about the Chinese business empire on the brink - CNN

https://www.cnn.com/2021/09/17/investing/china-evergrande-group-debt-explainer-intl-hnk/index.html

In the first half of the year, more than 165 real estate companies across the country went bankrupt!

https://mp.weixin.qq.com/s/PT5LnxxF3adNhlRYqyCVqg

What Would A Restructuring Of Evergrande Look Like?

https://www.forbes.com/sites/annestevenson-yang/2021/09/13/what-would-a-restructuring-of-evergrande-look-like/

3333 Institutional Ownership - Evergrande

https://fintel.io/so/hk/3333

Top 45 ETFs with HK:3333 / Evergrande

https://fintel.io/soe/hk/3333

How Beijing’s Debt Clampdown Shook the Foundation of a Real-Estate Colossus - WSJ

https://www.wsj.com/articles/how-beijings-debt-clampdown-shook-the-foundation-of-a-real-estate-colossus-11631957400?st=und2ovxihsc3odq&reflink=desktopwebshare_twitter

vQxdsJOR (700×394)

https://pbs.twimg.com/card_img/1439379269466140675/vQxdsJOR?format=jpg&name=900x900

Google Translate

https://translate.google.com/translate?sl=auto&tl=en&u=https://baijiahao.baidu.com/s?id%3D1705763057956150807%26wfr%3Dspider%26for%3Dpc

Google Translate

https://translate.google.com/translate?sl=auto&tl=en&u=https://www.163.com/dy/article/GK4SALRA0534ORS1.html

ar2020.pdf

https://doc.irasia.com/listco/hk/evergrande/annual/2020/ar2020.pdf

TOPICS AND TIMESTAMPS:

Economic Breakdown 0:00

FED CORRUPTION 0:41

REAL ESTATE 7:15

CHINA’S CRISIS 9:26

$GPS INSIGHTS

#1 FED PRINTING MONEY TO BAIL OUT COMPANIES AND THEN BUYING SHARES

#2 NOW THERE ARE ETHICS CONCERNS DESPITE KNOWING THIS WAS THE CASE

#3 INVESTORS WATCH OUT. NO NEW HIGHS SINCE REVELATIONS.

Fed officials owned securities it was buying during pandemic, raising more questions about conflicts

https://www.cnbc.com/2021/09/17/fed-officials-owned-securities-it-was-buying-during-pandemic-raising-more-questions-about-conflicts.html

Fed Chief Powell, other officials owned securities central bank bought during pandemic

https://www.cnbc.com/2021/09/17/fed-officials-owned-securities-it-was-buying-during-pandemic-raising-more-questions-about-conflicts.html

Federal Reserve Buys Bonds of Apple, Verizon and Others - TheStreet

https://www.thestreet.com/investing/apple-verizon-bonds-and-others-are-bought-by-the-federal-reserve

After years of being 'squeaky clean,' the Federal Reserve is surrounded by controversy

https://www.cnbc.com/2021/09/17/after-years-of-being-squeaky-clean-the-federal-reserve-is-surrounded-by-controversy.html

Rust Belt City’s Pitch for a Hot Housing Market: Free Homes - WSJ

https://www.wsj.com/articles/rust-belt-citys-pitch-for-a-hot-housing-market-free-homes-housing-prices-zillow-11631887605

Americans Haven’t Been This Down on Housing Market Since 1982 - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-17/americans-haven-t-been-this-down-on-housing-market-since-1982

China Adds $14 Billion Cash as Evergrande’s Pain Roils Markets - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-17/china-boosts-cash-addition-to-soothe-nerves-amid-evergrande-saga

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China corporate debt defaults trigger concerns of broader crisis | Debt | Al Jazeera

https://www.aljazeera.com/economy/2020/11/13/china-corporate-debt-defaults-trigger-concerns-of-broader-crisis

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https://cms.zerohedge.com/s3/files/inline-images/china%20junk%20bond%20yields%20sept%2017.jpg?itok=VkmdjSXB

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https://cms.zerohedge.com/s3/files/inline-images/high%20yield%20negative%20real%20yield_0.jpg?itok=ELRWkoZV

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https://cms.zerohedge.com/s3/files/inline-images/Snag_50da6965.png?itok=t721T5T2

China officially applies to join CPTPP, as the US increasingly isolated in trade - Global Times

https://www.globaltimes.cn/page/202109/1234550.shtml

Tycoon has fortune slashed by $27BILLION in one of biggest wealth drops ever as China cracks down on tech firms

https://www.the-sun.com/news/3683077/tycoon-fortune-slashed-biggest-wealth-drops-ever/

TOPICS AND TIMESTAMPS:

Shockwaves 0:00

EVER-WHO? 0:41

EVER-GRAND PROBLEMS 4:33

EVER-MORE DEBT 14:18

$GPS INSIGHTS

#1 THIS IS THE BIGGEST CREDIT CRISIS SINCE LEHMAN

#2 CHINA IS TAKING CHARGE TO CONTAIN THE FALLOUT

#3 INVESTORS MUST WATCH THEIR CURRENT EXPOSURE TO RISK ASSETS

“the collapse of credit would lead to liquidity squeeze in financial markets."

What Is China Evergrande and Why Is It In Trouble? - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-13/what-is-china-evergrande-and-why-is-it-in-trouble-quicktake

What Is China Evergrande and Why Is It In Trouble? - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-13/what-is-china-evergrande-and-why-is-it-in-trouble-quicktake

China Hires Advisers on Evergrande as Restructuring Looms - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-14/china-hires-its-own-evergrande-advisers-as-restructuring-looms

China developer Evergrande: debt crisis, bond default and investor risks

https://www.cnbc.com/2021/09/17/china-developer-evergrande-debt-crisis-bond-default-and-investor-risks.html

Google Translate

https://translate.google.com/translate?sl=auto&tl=en&u=http://disc.static.szse.cn/disc/disk02/finalpage/2021-09-16/28f80012-d473-4d69-8a44-d46d37dd509d.PDF

China Tells Banks Evergrande Won’t Pay Interest Next Week - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-15/china-tells-banks-evergrande-won-t-pay-interest-due-next-week

China’s Nightmare Evergrande Scenario Is an Uncontrolled Crash

https://finance.yahoo.com/news/china-nightmare-evergrande-scenario-uncontrolled-160000957.html

Evergrande employees in China held hostage as worried investors demand payments, Companies & Markets News & Top Stories - The Straits Times

https://www.straitstimes.com/business/companies-markets/evergrandes-employees-held-hostage-as-worried-investors-demand-payments

China’s Nightmare Evergrande Scenario Is an Uncontrolled Crash - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-16/china-s-nightmare-evergrande-scenario-is-an-uncontrolled-crash

Chinese bank executives investigated, arrested amid tightened crackdown on corruption - Global Times

https://www.globaltimes.cn/page/202109/1234151.shtml

China forms cross-agency team to crack down on securities misbehaviour | Reuters

https://www.reuters.com/article/china-market-regulations/china-forms-cross-agency-team-to-crack-down-on-securities-misbehaviour-idUSL1N2QI0TR

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https://internationalman.com/wp-content/uploads/2021/09/Image-1-494x1024.jpg

(1) IIF (@IIF) / Twitter

https://twitter.com/IIF/status/1438161466012618761/photo/1

World Bank Group to Discontinue Doing Business Report

https://www.worldbank.org/en/news/statement/2021/09/16/world-bank-group-to-discontinue-doing-business-report

TOPICS AND TIMESTAMPS:

A Lot To Talk About 0:00

INFLATION SENSATION 0:45

GAS MOVING UP 3:44

CHINA MOVING DOWN 10:45

$GPS INSIGHTS

#1 INFLATION IS RED HOT AS PRICES OF EVERYTHING SURGE

#2 ENERGY PRICES PARTICULARLY IN EUROPE ARE HITTING RECORDS

#3 TRADERS ARE POURING BILLIONS INTO URANIUM STOCKS

Priciest Food Since 1970s Is A Big Challenge For Governments

https://www.bloombergquint.com/global-economics/priciest-food-since-1970s-is-a-big-challenge-for-governments

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https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iFWCisx1fLb0/v0/1200x-1.png

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https://cms.zerohedge.com/s3/files/inline-images/Snag_46a746b6.png?itok=aWmr5oVn

Europe’s Gas Prices Extend Record Rally on U.S. LNG Concerns, Low Wind - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-15/eu-natural-gas-extends-record-rally-on-supply-concerns-low-wind?sref=RJ2RlMrh

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https://cms.zerohedge.com/s3/files/inline-images/uranium%20mines.jpg?itok=YAMndMk6

How inflation is hitting online prices of apparel to furniture

https://www.cnbc.com/2021/09/15/how-inflation-is-hitting-online-prices-of-apparel-to-furniture.html

JPM retail_0.png (801×543)

https://cms.zerohedge.com/s3/files/inline-images/JPM%20retail_0.png?itok=WmxqEvPw

Billions wiped from Macau casino stocks as city eyes gambling review

https://www.msn.com/en-ca/news/world/macau-casino-stocks-tumble-as-city-proposes-gambling-industry-crackdown/ar-AAOs6Tp

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https://cms.zerohedge.com/s3/files/inline-images/bfm35C4.jpg?itok=e8_HzOJp

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https://cms.zerohedge.com/s3/files/inline-images/bfm1AE1.jpg?itok=wjaQKFcN

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https://cms.zerohedge.com/s3/files/inline-images/bfm3EF7.jpg?itok=zMVJSoVY

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https://realinvestmentadvice.com/wp-content/uploads/2021/09/EQ-Sensitivity-to-LIQ2109130433.png

In 2020, top CEOs earned 351 times more than the typical worker

https://www.cnbc.com/2021/09/15/in-2020-top-ceos-earned-351-times-more-than-the-typical-worker.html

TOPICS AND TIMESTAMPS:

How It Unfolds 0:00

INFLATION 0:27

CONSUMERS 3:41

MORE SHORTAGES 12:02

$GPS INSIGHTS

#1 LONG STORY SHORT, THIS IS ALL COMPLETELY UNSUSTAINABLE

#2 THE ONLY WAY FOR THIS TO END IS MASSIVELY REDUCED DEMAND

#3 INVESTORS MUST REDUCE LEVERAGE AND DIVERSIFY

Consumer price index August 2021 show lower-than-expected rise

https://www.cnbc.com/2021/09/14/consumer-price-index-august-2021.html

U.S. Poverty Rate Rose From 60-Year Low, Incomes Fell Amid Virus - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-14/u-s-poverty-rate-rose-from-60-year-low-incomes-fell-amid-virus

Two-Thirds of Businesses Around the World Are Struggling to Hire - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-14/two-thirds-of-businesses-around-the-world-are-struggling-to-hire

$3,586,456,000,000: Federal Tax Collections Set Record Through August | CNSNews

https://www.cnsnews.com/article/washington/terence-p-jeffrey/3586456000000-federal-tax-collections-set-record-through

American household income fell in 2020, its first decline since 2011, Census says - CBS News

https://www.cbsnews.com/news/income-americans-2020-decline/

Consumer demand must ease to end supply chain crisis, says Maersk executive | Financial Times

https://www.ft.com/content/747be2c8-7ee8-4ec3-9725-a2fdbebc937d

Supply chain issues add to stagflationary winds | Financial Times

https://www.ft.com/content/0fe0d5d0-3d1f-49ae-94b8-894ba0f0d580

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https://cms.zerohedge.com/s3/files/inline-images/CPI%20mom.jpg?itok=rupmc9Vq

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There Is A Massive Flower Shortage Right Now | Washingtonian (DC)

https://www.washingtonian.com/2021/09/10/there-is-a-massive-flower-shortage-right-now/

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https://cms.zerohedge.com/s3/files/inline-images/2021-09-14_15-31-18.jpg?itok=wNNRDfFo

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https://cms.zerohedge.com/s3/files/inline-images/2021-09-14_15-34-55.jpg?itok=Y4GzGQ6S

TOPICS AND TIMESTAMPS:

Out of Control 0:00

PRICES RISING 0:40

TRANSITORY WHAT? 7:40

STOCKS DON’T STOP 12:22

$GPS INSIGHTS

#1 THE PRICES YOU PAY FOR EVERYTHING WILL RISE

#2 SUPPLY CHAIN ISSUES OUT OF CONTROL AND COMPOUND DAILY

#3 INFLATION NEEDS TO BE OFFSET BY A HEDGE AND PREPAREDNESS

Survey of Consumer Expectations - FEDERAL RESERVE BANK of NEW YORK

https://www.newyorkfed.org/microeconomics/sce#/inflexp-2

3M Stock Slides As CFO Cautions On Inflation Impact To Q3 Outlook - TheStreet

https://www.thestreet.com/investing/3m-stock-slides-as-cfo-cautions-on-inflation-impact-to-q3-outlook

Addressing Concentration in the Meat-Processing Industry to Lower Food Prices for American Families | The White House

https://www.whitehouse.gov/briefing-room/blog/2021/09/08/addressing-concentration-in-the-meat-processing-industry-to-lower-food-prices-for-american-families/

Grocery prices headed higher: Kroger | Fox Business

https://www.foxbusiness.com/economy/grocery-prices-to-rise-kroger

Nestle sees higher input cost inflation next year | Fox Business

https://www.foxbusiness.com/markets/nestle-higher-inflation

Supply chain crisis will leave permanent scar, UPS warns | Financial Times

https://www.ft.com/content/6c127633-9825-4921-9a11-71518591e2f3

Aluminum | 1989-2021 Data | 2022-2023 Forecast | Price | Quote | Chart | Historical

https://tradingeconomics.com/commodity/aluminum

Sprott Fund’s Buying Spree Propels Uranium Stocks to Decade High - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-13/sprott-fund-s-buying-spree-propels-uranium-stocks-to-decade-high?sref=6uww027M

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https://cms.zerohedge.com/s3/files/inline-images/URNM%20fund%20flows_1.jpg?itok=5L4hoO4y

Counterfeit Capitalism: Why a Monopolized Economy Leads to Inflation and Shortages - by Matt Stoller - BIG by Matt Stoller

https://mattstoller.substack.com/p/counterfeit-capitalism-why-a-monopolized

Energy Prices in Europe Hit Records After Wind Stops Blowing - WSJ

https://www.wsj.com/articles/energy-prices-in-europe-hit-records-after-wind-stops-blowing-11631528258

energy capex.jpg (1073×443)

https://cms.zerohedge.com/s3/files/inline-images/energy%20capex.jpg?itok=mEe1TAMo

Funds Go Green, but Sometimes in Name Only - WSJ

https://www.wsj.com/articles/funds-go-green-but-sometimes-in-name-only-11631179801

2021-09-13_11-23-43.jpg (784×384)

https://cms.zerohedge.com/s3/files/inline-images/2021-09-13_11-23-43.jpg?itok=SSJVX4-6

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https://cms.zerohedge.com/s3/files/inline-images/2021-09-13_11-18-54.jpg?itok=FbSmgII5

bfm91A9.jpg (1024×529)

https://cms.zerohedge.com/s3/files/inline-images/bfm91A9.jpg?itok=LDTcLmBR

Wall Street Sees Treasury With Debt Limit Break-Glass Plan - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-13/wall-street-still-sees-treasury-with-debt-limit-break-glass-plan?cmpid%3D=socialflow-twitter-economics&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=economics&utm_medium=social&sref=6uww027M

Statement-News Center

https://www.evergrande.com/News/Details/248975

TOPICS AND TIMESTAMPS:

Taper, Taper, Taper 0:00

FED TAPER 0:42

$GPS INSIGHTS

#1 THE FED IS BEHIND OTHER CENTRAL BANKS IN SLOWING ASSET PURCHASES

#2 PEOPLE BELIEVE THE FED CAN’T STOP THE PARTY

#3 INFLATION IS ACTIVELY A PROBLEM FOR THE FED AND WILL WORSEN

Fed Seen on Track for 2021 Taper Start Even as Covid-19 Swirls - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-10/fed-seen-on-track-for-2021-taper-start-even-as-covid-19-swirls

Fed’s Williams Says 2021 Taper Start ‘Could Be Appropriate’ - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-08/williams-says-it-could-be-appropriate-for-fed-to-taper-this-year

Investor Demand for Treasury Auctions Allays Taper-Tantrum Fears - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-10/investor-demand-for-treasury-auctions-allays-taper-tantrum-fears

Fed Now Risks Too-Slow Taper After Too Fast in 2013, Rajan Says - Bloomberg

https://www.bloomberg.com/news/articles/2021-08-31/fed-now-risks-too-slow-taper-after-too-fast-in-2013-rajan-says

‘The lady isn’t tapering,’ says Lagarde as ECB slows asset purchases - MarketWatch

https://www.marketwatch.com/story/european-central-bank-to-slow-pace-of-emergency-asset-purchases-11631190457

The ECB has secured a taper without a tantrum | Financial Times

https://www.ft.com/content/576861c4-1c1a-43f6-b35b-02298f3ac551

Central banks, summary of current interest rates

https://www.global-rates.com/en/interest-rates/central-banks/central-banks.aspx

Bank of Canada Maintains Bond Buying, Sees Second-Half Rebound - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-08/bank-of-canada-maintains-bond-buying-sees-second-half-rebound

New Zealand Bond Markets Could Face an October RBNZ Surprise - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-12/new-zealand-bond-markets-could-face-an-october-rbnz-surprise

Beijing to break up Ant’s Alipay and force creation of separate loans app | Financial Times

https://www.ft.com/content/01b7c7ca-71ad-4baa-bddf-a4d5e65c5d79

TOPICS AND TIMESTAMPS:

Moment We’ve Been Waiting For 0:00

FED TAPER 0:40

STIMULUS 7:03

ECONOMIC MADNESS 10:19

$GPS INSIGHTS

#1 THE FED MAY JOIN THE REST OF THE WORLD AND TAPER

#2 INFLATION IS OUT OF CONTROL AND THEY NEED TO CONTROL IT

#3 PERFECTION IS PRICED INTO MARKETS SO REDUCE HIGH RISK BETS

(7) Nick Timiraos on Twitter: "The Fed appears on track to use their meeting on Sept. 21-22 to tee up the start of the reduction in their asset purchases for their November meeting https://t.co/4w07z8J7fG" / Twitter

https://twitter.com/NickTimiraos/status/1436285303472410653?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Fed Officials Prepare for November Reduction in Bond Buying - WSJ

https://www.wsj.com/articles/fed-officials-prepare-for-november-reduction-in-bond-buying-11631266200?mod=hp_lead_pos12

largest US fiscal stimulus of all time.jpg (877×533)

https://cms.zerohedge.com/s3/files/inline-images/largest%20US%20fiscal%20stimulus%20of%20all%20time.jpg?itok=5uWx1EvR

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https://cms.zerohedge.com/s3/files/inline-images/sept%20stimulus.jpg?itok=5i9m2Reg

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https://cms.zerohedge.com/s3/files/inline-images/sept%20key%20events.jpg?itok=7LP2hkb2

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https://cms.zerohedge.com/s3/files/inline-images/pace%20of%20global%20central%20bank%20purchases.jpg?itok=H6oOIMqM

SNB’s Zurbruegg Says Negative Rates Key to Prevent Rise in Franc - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-11/snb-s-zurbruegg-says-negative-rates-key-to-prevent-rise-in-franc?srnd=premium-canada

tapering nov 2011_0.jpg (1015×624)

https://cms.zerohedge.com/s3/files/inline-images/tapering%20nov%202011_0.jpg?itok=awrtejxB

It's Not Just Used Cars. Even Wrecked Cars Are Getting More Expensive - Bloomberg

https://www.bloomberg.com/opinion/articles/2021-09-09/it-s-not-just-used-cars-even-wrecked-cars-are-getting-more-expensive?sref=RJ2RlMrh

Los Angeles Port Logjam Tops 50 Ships; Wait Exceeds Eight Days - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-11/los-angeles-port-logjam-tops-50-ships-wait-exceeds-eight-days?sref=RJ2RlMrh

Bloomberg - Bloomberg

https://www.bloomberg.com/canada

Snag_3252856a.png (976×801)

https://cms.zerohedge.com/s3/files/inline-images/Snag_3252856a.png?itok=R8cNMnOi

Gazprom announces that its Nord Stream 2 gas pipeline to Germany is finished

https://www.france24.com/en/europe/20210910-gazprom-announces-that-its-nord-stream-2-gas-pipeline-to-germany-is-finished

Stablecoins Face Crackdown as U.S. Discusses Risk Council Review - Bloomberg

https://www.bloomberg.com/news/articles/2021-09-11/stablecoins-face-crackdown-as-u-s-discusses-risk-council-review?srnd=premium-canada