Baltic
Dry Index. 1080 -13
Brent Crude 80.24
Spot Gold 2682 US 2 Year Yield 4.37 -0.03
"God must love the common man, he made so many of them.”
Abraham Lincoln, 16th U. S. President.
After a better than forecast Producer Price Index yesterday, today’s Consumer Price Index number is all important for the global stock casinos bubbles.
Shame about the soaring US deficit though, headed rapidly towards a fiat dollar disaster.
But with every other nation forced on to a fiat currency money tragedy, thanks to the Great Nixonian Error of fiat money, August 15, 1971, that fiat dollar disaster beggars all.
Look away from that gold price now.
Asia markets mixed as investors assess U.S.
inflation data, Japan business sentiment
Updated Wed, Jan 15 2025 12:10 AM EST
Asia-Pacific markets were mixed Wednesday,
following a softer-than-expected inflation data from the U.S. that sent two key
Wall Street benchmarks higher overnight.
The producer price
index, which measures wholesale inflation, climbed just 0.2% in December,
according to the Bureau of Labor Statistics. Economists polled by Dow Jones had
estimated a 0.4% rise. Core PPI, which excludes food and energy, came in flat.
Investors in Asia also assessed the Reuters Tankan survey from Japan for January.
Business sentiment among large
manufacturers rebounded, with the Tankan reading coming in at plus 2, after
dipping into negative territory for the first time in 10 months in December
with a reading of minus 1 in December.
Optimism among non-manufacturers edged up
to plus 31, from plus 30 in December.
Hong Kong’s Hang Seng index rose 0.23%
while mainland China’s CSI300 — which captures the 300 most traded stocks on
Shanghai and Shenzhen Stock Exchanges — fell 0.41%.
The benchmark Nikkei 225 was marginally
up, while the broad-based Topix gained 0.34%.
Meanwhile, South Korea’s Kospi was up
0.30% while the small-cap Kosdaq index lost 0.56% after South Korean
investigators arrested impeached President Yoon Suk Yeol.
Australia’s S&P/ASX 200 has fell
0.16%.
Overnight in the U.S., the Dow Jones Industrial Average climbed
0.52% while the S&P 500 advanced
0.11% after the PPI report to 5,842.91. In contrast, the tech-heavy Nasdaq Composite slipped
0.23%.
Asia markets live: U.S. PPI, Japan Reuters tankan
CNBC Daily Open: Tech rout in markets continues
Published Tue, Jan 14 2025 7:54 PM EST
Nasdaq still trails other major indexes
The S&P 500 and Dow Jones Industrial Average rose
on Tuesday, but the Nasdaq
Composite retreated, making it the second
day it’s underperformed. Europe’s Stoxx 600 index ticked down
0.08%, giving
up earlier gains. BP fell
2.5% after the oil giant said its fourth-quarter profit will take a hit of up
$300 million because of weaker refinery margins.
Meta cuts jobs while Microsoft freezes
hiring
Meta will be cutting
about 5% of its lowest-performing employees, CNBC confirmed Tuesday. CEO
Mark Zuckerberg informed employees about the decision in a memo posted on the
company’s internal forum on Tuesday. Separately, Microsoft plans to pause
hiring in part of its consulting business in the U.S., according to an
internal memo.
SEC sues Musk over Twitter shares
The
SEC filed
a lawsuit against Elon Musk on Tuesday, alleging the billionaire
committed securities fraud in 2022 by failing to disclose his ownership in
Twitter and buying shares at “artificially low prices.” Prior to Musk’s
acquisition of Twitter in 2022, he’d built up a position in the company of
greater than 5%, which would’ve required disclosing his holding to the public
within 10 calendar days of reaching that threshold.
Slower increase in producer prices
U.S. producer prices in December rose 0.2% for
the month, according to a Bureau of Labor Statistics report Tuesday. That’s
lower than November’s 0.4% increase as well as the Dow Jones consensus estimate
of 0.4%. On an annual basis, the headline producer price index rose 3.3% for
2024, up from the 1.1% increase in 2023.
More
CNBC Daily Open: Tech rout in markets continues
Europe’s stocks set for positive open ahead of
closely watched U.S. inflation data
Updated Wed, Jan 15 2025 12:35 AM EST
European markets are heading for a
positive open Wednesday as traders await the latest U.S. inflation data that
will inform the Federal Reserve’s decision-making on interest rate cuts.
The U.K.’s FTSE 100 index is expected
to open 25 points higher at 8,221, Germany’s DAX up 20 points at 20,279,
France’s CAC up 15
points at 7,439 and Italy’s FTSE
MIB up 51 points at 35,218, according to data from IG.
Trading updates are set to come from Experian and Hays on Wednesday, while
data releases in focus are the latest U.K. inflation figures and German
full-year gross domestic product.
Global market focus on Wednesday is on the
U.S. consumer inflation index, which will be out at 8:30 a.m. ET. Economists
polled by Dow Jones see headline CPI rising 0.3% on a monthly basis and gaining
2.9% over the prior 12 months.
The data will come hot on the heels
of December’s
wholesale inflation report, which came in lighter than expected. The
producer price index added just 0.2%, less than the Dow Jones consensus
estimate for a 0.4% increase.
Both reports will inform the Fed’s
interest rate policy when it meets later this month. Fed funds futures trading
suggests a near-certainty that the Fed will hold steady on interest rates at
the conclusion of its two-day meeting later this month. Markets pricing
also suggests a 97% chance of rates staying at their current target range of
4.25%-4.5% in March, according to the CME FedWatch Tool.
Global
bond yields continue to rise as traders expect a slower pace of interest rate
cuts this year, with both signs of economic strength and potential weakness
ahead. Jobs data last week showed nonfarm payrolls grew much faster than
expected in December, but President-elect Donald Trump has said he will enact
tariff policies when he takes office, which are predicted to be inflationary.
Investors stateside will also be keeping
an eye on big bank earnings Wednesday: JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo are set to post
fourth-quarter results. Morgan
Stanley and Bank of
America are slated to report on Thursday.
European markets live updates: U.S. inflation data and stocks in focus
Budget deficit rose in December and is now 40%
higher than it was a year ago
Published Tue, Jan 14 2025 2:05 PM EST Updated Tue, Jan 14 2025 3:35 PM EST
The federal budget sank further into red
ink during December, leaving the first fiscal quarter deficit nearly 40% higher
than it was the prior year.
For the final calendar month of 2024, the
shortfall totaled $86.7 billion, which actually represented a 33% decline for
the same period a year prior, according to a Treasury Department report
Tuesday. However, that brought the three-month fiscal year total to $710.9
billion, some $200 billion more than the comparable period in the prior year,
or 39.4%.
Rising financing costs along with
continued spending growth and declining tax receipts have combined to send
deficits spiraling, pushing the national debt past the $36 trillion mark.
Though short-term Treasury yields have
held fairly steady over the past month, rates at the far end of the duration
curve have surged. The benchmark 10-year note most recently yielded close to
4.8%, or about 0.4 percentage point above where it was a month ago.
At the same time, outlays during the first
quarter were 11% higher than a year ago while receipts fell by 2%.
Interest on the national debt has totaled
$308.4 billion in fiscal 2025, up 7% from a year ago. Financing costs are
projected to top $1.2 trillion for the full year, which would surpass 2024′s
record.
The government this year has spent more on
interest payments than any other category but Social Security, defense and
health care.
Budget deficit rose in December and is now 40% higher than it was a year ago
In other news.
Iranian Army Takes Delivery of 1,000 Drones,
Promises ‘Deadly Blows to the Enemy’
Iranian Defense Minister Brigadier General
Aziz Nasirzadeh says the new drones will allow Iran to ‘conquer the sky when
necessary.’
1/13/2025 Updated: 1/13/2025
The Iranian Army says it has taken
delivery of 1,000 new drones equipped with stealth capabilities and designed to
target enemy fortifications.
The Ababil-4 and Ababil-5 drones, which
were designed by the Iranian defence ministry, were delivered to various
locations throughout Iran, according to the semi-official Tasnim news agency.
Tasnim said the weapons were formally
handed over to the armed forces on Jan. 13, at a ceremony attended by Iranian
Army Commander Major General Abdolrahim Mousavi and Defence Minister Brigadier
General Aziz Nasirzadeh.
The state-owned IRNA news agency
reported Nasirzadeh said the drones would enable Iran to, “conquer the sky when
necessary and deliver deadly blows to the enemy.”
The unmanned aerial vehicles (UAVs),
designed by defence ministry experts, include multipurpose strategic drones
that can be used for reconnaissance, patrol missions, electronic warfare, data
collection, and aerial combat.
Earlier this month, Iran started a series
of war games in which the Islamic Revolutionary Guards Corps defended the
country’s key nuclear installation in Natanz against mock attacks by missiles
and drones.
Nasirzadeh said: “What is showcased in the
exercises is only the shareable portion of our capabilities. We also possess
astonishing equipment, which will be utilized by our armed forces if
necessary.”
Nasirzadeh said the drones were equipped
with artificial intelligence, although that is usual for all UAVs.
Mousavi said, “The deliveries,
unveilings, and exercises across the geography of Iran and the oceans
demonstrate the capacity and readiness of the armed forces.”
Tasnim said the drones had a range of
1,240 miles, “high destructive power,” and the capacity to pass through defence
layers with low radar profiles.
Tasnim said the Iranian Army had also
received Arash drones, which it said can carry out so-called suicide missions
at long range and with “pinpoint accuracy.”
In the past 15 months, Iran has also
supplied drones and drone technology to its allies in the so-called axis
of resistance,
the terrorist group Hezbollah in Lebanon and the Houthi terrorist group in
Yemen.
Last year, on April 13 and Oct. 1, Iran
itself used drones and missiles against targets inside Israel, as part of its
war against the Jewish state which began when Hamas terrorists crossed the
border from Gaza on Oct. 7, 2023, and massacred 1,200 Israelis.
The April 13 barrage, which was
largely neutralized by Israel’s Iron Dome air defense system, was a response to
an April 1 Israeli airstrike on Iran’s embassy in Damascus.
More
Iranian Army Takes Delivery of 1,000 Drones, Promises ‘Deadly Blows to the Enemy’ | The Epoch Times
Global Inflation/Stagflation/Recession Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
Energy
price surge risks pushing EU economy into stagflation
14
January 2025
Both
crude oil and natural gas prices saw a sharp increase in January amid
increasing energy demands and new US sanctions on Russia. Benchmark natural gas
futures at NYMEX rose to $4.37 (€4.280) per million British thermal units
(MMBtu) briefly before retreating on Monday, a level last seen in December
2022. Meanwhile, crude oil futures, including WTI and Brent, surged to their
highest levels since August 2024.
The
price surge in natural gas was primarily caused by soaring demands amid cold
weather in the northern hemisphere, while the jump in crude prices was
triggered by new sanctions imposed by the outgoing Biden
administration.
Natural
gas prices double
Natural
gas prices have doubled since October 2024 from under $2 per MMBtu to just
under $4 per MMBtu as of Tuesday in the Asian session. According to the US
Energy Information Administration, natural gas futures for delivery at the
Title Transfer Facility (TTF) in the Netherlands increased to a weekly average
of $14.55 per MMBtu by the week ending 8 January, 27% higher than the same
period last year.
The
WTI futures surged by 17% and the Brent futures have jumped 14% since early
December, reaching thresholds of $78 and $80 per barrel respectively.
Data
from the American Petroleum Institute (API) showed that the US oil inventory
has fallen for the seventh consecutive week ending 5 January. Last Friday, the
US announced wider sanctions on Russia's oil exports, targeting producers
Gazprom Neft and Surgutneftegaz, as well as 183 vessels that have shipped
Russian oil.
The
elevated energy prices post significant risks to the eurozone's economy,
particularly affecting manufacturing activities as the European nations grapple
with political uncertainties, one week ahead of Donald Trump's
inauguration.
Stagflation
risks ahead in the Eurozone
Surging
energy prices could complicate the inflation outlook in the Euro area, echoing
the crisis experienced when Russia launched aggression against Ukraine in 2022.
The European Central Bank (ECB) is likely to
face the challenges in balancing economic growth with mounting inflationary
pressures this year.
"We'd
have to see prices rise a bit higher from here but there is the risk that
stronger energy prices lead to a stagflationary mix in Europe, which obviously
can't sort out its energy policy and is dealing with typically moribund
growth", Kyle Rodda, a senior market analyst at Compital.com Australia,
said.
Stagflation
refers to an economy characterised by high inflation, stagnant economic growth,
and elevated unemployment – a scenario the eurozone appears increasingly at
risk of meeting.
More
Energy price surge
risks pushing EU economy into stagflation
Pound
tumbles and gilt yields rise as Reeves faces fresh market turmoil
14
January 2025
The
pound sank for a fifth day in a row yesterday and long-term government
borrowing costs hit a fresh 27-year high amid deepening fears over Labour’s
stewardship of the economy.
In
another setback to Rachel Reeves as she returned to the UK after a trip to
China, sterling slumped by as much as a cent to a 14-month low of $1.21 against
the US dollar.
The
currency is 10 per cent below its pre-Budget peak in September and has fallen
by nearly five cents in just a week.
The
pound also lost ground against the euro, languishing below €1.19 at a two-month
low.
And
yields on 30-year gilts climbed close to 5.5 per cent, the highest since 1998,
while ten-year yields hovered around 4.9 per cent, close to the 17-year high
reached last week.
Gilts
are bonds sold by the UK Government to raise money. When their prices fall,
yields rise.
Higher
yields mean investors are demanding higher returns for lending to Britain. In a
further headache for ministers and the Bank of England hoping to keep a lid on
inflation, the price of a barrel of Brent crude rose to $81.68, a five-month
high.
The
latest moves add to the turbulence seen on markets last week – which was set
off by jitters over US borrowing and inflation but quickly saw investors turn
on Britain amid doubts that Reeves’s tax and spending plans will hold together.
The
rise in bond yields has further limited the Chancellor’s options, adding an
estimated £10billion a year to Britain’s debt interest bill.
It
is likely to mean Reeves either having to cut spending or raise taxes again.
Kathleen
Brooks, research director at broker XTB, said anxiety over UK public finances
would continue until the Government takes action to address it
She
said: ‘The bond market is attempting to intimidate Chancellor Rachel Reeves
into forcing the UK to live within its means.
‘We
think the bond market will get its way.
More
Pound tumbles and
gilt yields rise as Reeves faces fresh market turmoil
Aussie
dollar plunges against USD amid it's lowest level in five years
14
January 2025
With
the Australian dollar now getting just 61 US cents - its lowest level in five
years - consumer sentiment is falling and fears over what it means for
mortgages are rising. Other than three days in October 2022, the Aussie dollar
has not been below 62 US cents since late March and early April of 2020 - the
first time it had reached so low since during the global financial crisis in
2008. This has sparked fears the falling Australian dollar will lead to higher
prices on imports and mean the Reserve Bank of Australia (RBA) will be
reluctant to cut rates, dashing hope of any relief from mortgage payments.
But
Westpac chief economist Luci Ellis (pictured) told Daily Mail Australia the
situation is not that simple, there are much broader facts to consider and the
short answer is no, the exchange rate is not that big a factor. 'What's really
going on is the US dollar is strong,' Ms Ellis said on Tuesday. 'And the reason
for that is that market participants have changed their minds about what they
expect the Fed (US Federal Reserve ) will do. They're now expecting that the
Fed will not cut rates as much as they previously thought. And in fact one of
the big global banks, Royal Bank of Canada, now say they don't think the Fed
will be cutting any further at all. 'So if rates in the US are going to be
higher, that makes US dollars denominated securities look more attractive...
it's not us, it's them.'
With
the Australian dollar now getting just 61 US cents - its lowest level in five
years - consumer sentiment is falling and fears over what it means for
mortgages are rising. Other than three days in October 2022, the Aussie dollar
has not been below 62 US cents since late March and early April of 2020 - the
first time it had reached so low since during the global financial crisis in
2008. This has sparked fears the falling Australian dollar will lead to higher
prices on imports and mean the Reserve Bank of Australia (RBA) will be
reluctant to cut rates, dashing hope of any relief from mortgage payments.
Ms
Ellis said it was 'possible consumers were reacting to news about the
depreciation of the Australian dollar against the US dollar, which resulted in
some negative headlines about the outlook for interest rates and the broader
economy'. As well as a sharp decline from above 69 US cents in late September,
consumer confidence around jobs also fell by 2.8 per cent to 127.2 per cent,
despite the unemployment rate falling to 3.9 per cent in November. 'Consumer
confidence around jobs continues to deteriorate even though recent official
data on unemployment has remained low and job vacancies have increased,' the
chief economist said. In better news, though, Aussies are feeling more positive
about the housing market.
More
Aussie dollar
plunges against USD amid it's lowest level in five years
Covid-19 Corner
This section will continue until it becomes unneeded.
Yes, but is it safe? What were the long term trials? Were there any long term trials?
UQ and Vaxxas win global prize to accelerate patch-based mRNA vaccine
for COVID-19
13 January 2025
The University of Queensland's BASE facility
– within the Australian Institute for Bioengineering and Nanotechnology
(AIBN) – and Brisbane-based biotechnology company Vaxxas have been
announced as stage winners of a prestigious global prize to accelerate a
patch-based mRNA vaccine for COVID-19.
The UQ and Vaxxas partnership is one of 4 Concept
Stage winners in the US$50 million Biomedical Advanced Research and Development
Authority (BARDA) Patch Forward Prize, established to advance the
commercialization of microneedle patch-based mRNA vaccines for COVID-19,
seasonal influenza and pandemic influenza.
The US$2 million (A$3.2 million) prize will help to
accelerate the use of Vaxxas' high-density microarray patch (HD-MAP)
technology to administer mRNA vaccines manufactured at UQ's BASE facility.
The HD-MAP is a small patch containing thousands of
microprojections, each coated with a small vaccine dose in a dried formulation.
When applied to the skin, the patch delivers the vaccine to immune cells below
the skin's surface.
The HD-MAP offers potential benefits over
syringe-administered vaccination including a reduced need for cold-chain
storage and distribution – a particular challenge for mRNA vaccines – as well
as self-administration via an easy-to-use applicator.
UQ BASE Director Professor Timothy Mercer said the
HD-MAP has the potential to improve access to mRNA vaccines across all regions,
with even greater benefits in lower middle-income countries and hard-to-reach
areas where distribution and administration is a challenge.
This prize enables us to progress the work required
to improve the thermostability of mRNA vaccines on the Vaxxas patch.
The work could help us to be better prepared for
future pandemics as well as make these life-saving vaccines available in places
we currently can't reach because of limited cold-chain infrastructure.
Vaxxas is one of Australia's most exciting and
innovative companies and we're looking forward to working on the Patch Forward
prize together.
Receiving this prize from BARDA is global
recognition of our expertise, and testament to the hard work and dedication of
our team."
Professor Timothy Mercer,UQ BASE Director
UQ's BASE facility is recognized
as Australia's leading provider of mRNA for research and pre-clinical
studies, providing academic and industry partners with access to mRNA
technologies since its launch in 2021.
The facility provides end-to-end capabilities for
mRNA vaccine development from initial design to clinical trials, allowing the
next generation of mRNA vaccines and therapies to be built in Queensland.
Vaxxas focuses on enhancing the performance of
existing and next-generation vaccines through its HD-MAP technology, and is
targeting initial applications in infectious disease and oncology.
It's core technology was initially developed at UQ
after the company was established as a start-up in 2011 through the
University's commercialization company UniQuest.
Vaxxas Senior Vice President Pipeline Development
Dr. Deborah Pascoe said the BARDA award recognises the value of partnering
with a global leader in mRNA research and manufacturing.
"UQ's BASE facility is not only a world leader
in mRNA research and manufacturing capabilities, it also has a focus on working
with industry to translate critical research into products that can make a
significant impact to public health," Dr. Pascoe said.
More
UQ and Vaxxas win global prize to
accelerate patch-based mRNA vaccine for COVID-19
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
White
Graphene: The One-Atom Wonder Driving Greener Energy and Faster Tech
By University
of Surrey January 13, 2025
Scientists have made a significant breakthrough in
understanding the growth of “white graphene” on metal substrates. This
discovery could lead to more efficient electronics, cleaner energy solutions,
and environmentally friendly chemical manufacturing.
Researchers at the University of Surrey have made a
breakthrough in understanding how Hexagonal Boron Nitride (hBN), a 2D material,
grows and forms nanostructures on metal substrates. This discovery could lead
to more efficient electronics, cleaner energy solutions, and environmentally
friendly chemical manufacturing.
Known as “white graphene,” hBN is an ultra-thin
material only one atom thick. It is highly durable, capable of
withstanding extreme temperatures, resisting chemical damage, and blocking
electrical currents. These properties make hBN an essential material in
advanced electronics, where it protects sensitive microchips and supports the
development of faster, more efficient transistors.
Advanced Research and Environmental Benefits
The researchers have also demonstrated the creation of
nanoporous hBN, a novel form of the material with tiny, structured voids. This
unique structure enables selective absorption and advanced catalysis,
significantly enhancing its potential for environmental applications. These
include detecting and filtering pollutants, improving hydrogen storage, and
serving as electrochemical catalysts for fuel cells in advanced energy systems.
Dr. Marco Sacchi, lead author of the study and
Associate Professor at Surrey’s School of Chemistry and Chemical Engineering,
said:
“Our research sheds light on the atomic-scale processes
that govern the formation of this remarkable material and its nanostructures.
By understanding these mechanisms, we can engineer materials with unprecedented
precision, optimizing their properties for a host of revolutionary
technologies.”
Theoretical and Experimental Synergy
Working in collaboration with Austria’s Graz University
of Technology (TU Graz), the team – led by Dr. Marco Sacchi, with the
theoretical work performed by Dr. Anthony Payne and Dr. Neubi Xavier – combined
density functional theory and microkinetic modeling to map the growth process
of hBN from borazine precursors, examining key molecular processes such as
diffusion, decomposition, adsorption and desorption, polymerization, and
dehydrogenation. This approach enabled them to develop an atomic scale model
that allows for the material to be grown at any temperature.
More
White Graphene:
The One-Atom Wonder Driving Greener Energy and Faster Tech
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
"You
can get much farther with a kind word and a gun than you can with a kind word
alone."
Al Capone.
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