At US Stock Market Top Passive Funds Overtook Active Funds Ownership for First Time

A phenomenon consistent with the belief stock markets only go up is the ‘hold forever’ passive funds. At the end of 2021 these passive funds accounted for 16 per cent of US stock market capitalization. This overtook the 14 per cent held by active funds, according to the Investment Company Institute, an industry body. Significantly the all-time high of the US markets was seen at the end of 2021 and since then we have seen sharp selloffs. What I we … Continue reading “At US Stock Market Top Passive Funds Overtook Active Funds Ownership for First Time”

Who is Attending the Davos World Economic Forum and Who Is Not

The world’s elite, well sans Russians, are hobnobbing it in the Swiss Alps at the World Economic Forum’s annual meeting in Davos from Sunday (May 22) through Thursday. The gathering was nixed for last two years with the coronavirus pandemic. Not to say the elites haven’t been trying to shape, and profit from all and sundry in that time. About 2500 participants are registered, down from 3000 at the last gathering in January 2020. What is notable is who isn’t … Continue reading “Who is Attending the Davos World Economic Forum and Who Is Not”

Japan Adds to Bond Route Selling Treasuries as Currency Hedging Costs Soar

Bonds have collapsed at a rapid pace with soaring inflation and a one-way market. The US dollar has soared at the same time with the BOJ and the Fed Reserve at difference policy ends. The Japanese Central Bank still is an aggressive buyer of JGB’s while the Fed pares its $9 trillion balance sheet. Japanese institutional managers are now selling US bonds, BMO Capital Markets shows they have offloaded almost $60 billion over the past three months. One could argue this … Continue reading “Japan Adds to Bond Route Selling Treasuries as Currency Hedging Costs Soar”

Spiderman Smashes Hulk with Record $US3.36 million Auction for Original Venom Page

The surge in auction prices from collectibles continues to rise despite the rocky start to stock markets in 2022. A single page of artwork from a 1984 Spider-Man comic book sold at auction for a record $US3.36 million. The bidding started at $US330,000 on the first day of Heritage Auctions’ four-day platinum comic event in Dallas. The previous record for an interior page of a US comic book was shattered. The Incredible Hulk 1974 issue that featured a tease for … Continue reading “Spiderman Smashes Hulk with Record $US3.36 million Auction for Original Venom Page”

Turkey A Lesson in Why Central Banks Need to Be Independent as Lira Collapses Accelerates

Turkey is a great lesson on why Central Banks and Governments should be independent. Turkey’s currency, the lira collapse accelerated further after its central bank cut its main interest rate by 1%, from 15% to 14% on Thursday with concerted pressure from President Recep Tayyip Erdogan wanting rates cut to stimulate the economy. Meanwhile Turks can’t afford bare necessities as inflation runs rampant from the collapsed currency. Inflation in Turkey has climbed above 21.7% over the year. “The Committee decided … Continue reading “Turkey A Lesson in Why Central Banks Need to Be Independent as Lira Collapses Accelerates”

Turkey Lira Collapses Another 15% in One Day as Erdogan Defends Rate Cuts

Turkey’s currency, the lira collapse accelerated Tuesday, down 15% on the day. This was its second-worst day ever with the latest catalyst President Tayyip Erdogan defending the Turley Central Bank sharp rate cuts. He vows to win his so called “economic war of independence”. Meanwhile Turks can’t afford bare necessities as inflation runs rampant from the collapsed currency. Erdogan has dug his heals in from the widespread criticism and pleas to reverse course on rates. Highlights (via Reuters) Lira has … Continue reading “Turkey Lira Collapses Another 15% in One Day as Erdogan Defends Rate Cuts”

Oatly Group World’s Original and Largest Oatmilk Company Running Into Headwinds With Record High Oats Prices

Sweden’s Oatly Group is facing headwinds of oats futures near a 7-1/2 hear high. Drought slashed supplies from top global supplier Canada at a time of robust demand for the grain. $OTLY is expanding beyond milk to ice cream, yogurt, cooking creams, spreads and on-the-go drinks Swedish-based Oatley is the world’s original and largest oat milk company with offerings of milk to ice cream, yogurt, cooking creams, spreads, and on-the-go drinks. The company has run into headwinds with food supply … Continue reading “Oatly Group World’s Original and Largest Oatmilk Company Running Into Headwinds With Record High Oats Prices”

Russian Arms Manufacturer Almaz-Antey New Hydrogen Fuel Cell Cars

The Russian government-backed arms manufacturer Almaz-Antey has announced that it is working on a new hydrogen fuel cell passenger car,known as E-NEVA. The hybrid car will be for civilian use. Hydrogen provides more mileage and lower CO2 emissions than electric cars

New Palm Oil Plantation Permits Moratorium Ends in Indonesia, What Next?

Indonesia is the world’s biggest exporter of palm oil and on 19 September a three-year moratorium for new oil palm plantation permits expired. There have been no decisions on whether to extend or end it. The decision is crucial to Indonesia finances, the environment and Orangutans. A one year old Bornean orangutan with its mother. (photo by Tim Laman) The decision has many impacts and in a world wrecked by the global coronavirus economic lockdown financial factors come into play … Continue reading “New Palm Oil Plantation Permits Moratorium Ends in Indonesia, What Next?”

Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology

Aurora Innovation, a California-based self-driving technology company announced it is collaborating, with Paccar to launch a commercial pilot of autonomous trucks hauling goods for package delivery firm FedEx. The Paccar trucks will be equipped with Aurora’s autonomous technology to haul FedEx loads between Dallas and Houston on one of America’s busiest routes, the 500-mile round trip I-45 corridor. The pilot marks the next phase of a partnership among the three companies that was announced in January. The trucks will operate … Continue reading “Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology”