Price Discovery – Piazza Carlo Giuliani http://piazzacarlogiuliani.org/ Wed, 28 Sep 2022 15:06:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://piazzacarlogiuliani.org/wp-content/uploads/2021/03/cropped-icon-1-32x32.png Price Discovery – Piazza Carlo Giuliani http://piazzacarlogiuliani.org/ 32 32 Watr and Flowcarbon Partner to Bring Voluntary Tokenized Carbon Markets to Ethical Commodities https://piazzacarlogiuliani.org/watr-and-flowcarbon-partner-to-bring-voluntary-tokenized-carbon-markets-to-ethical-commodities/ Wed, 28 Sep 2022 15:06:36 +0000 https://piazzacarlogiuliani.org/watr-and-flowcarbon-partner-to-bring-voluntary-tokenized-carbon-markets-to-ethical-commodities/

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NEW YORK–(BUSINESS WIRE)–Today, Flowcarbon, a leading climate technology company that develops projects to reduce and eliminate carbon emissions, and Watr, the pioneering Polkadot parachain for ethical products , announced a partnership to bring finance capital, talent and technology to voluntary carbon markets on Watr – serving the $17 trillion commodities industry.

The partnership will see Flowcarbon launch its carbon tokenization technology and infrastructure on the Watr protocol as the cornerstone of Watr’s decentralized carbon ecosystem. The goal is to support the exponential evolution of carbon credits needed to meet net zero commitments made by industry for 2030 and beyond.

The current on-chain carbon ecosystem is fragmented and excludes the largest centers of demand for the voluntary carbon market (VCM): industry and commodities. This partnership sees Watr and Flowcarbon collaborate to ensure that new VCM products are co-created and amplified by the expertise and demand of VCM’s largest consumers and participants, including industry and commodities.

“Tokenization enables a deeper connection with the source through traceable and transparent carbon credits, which are essential for ethical raw materials. We believe that with the Watr ecosystem, we will expand access to a high-demand hub and drive climate action more effectively and efficiently. We look forward to seeing the impact this partnership will have on voluntary carbon markets,” said Dana Gibber, CEO of Flowcarbon.

The Watr ecosystem connects institutional giants of raw materials and distribution players to the main web3 technologists. The combined potential is immense and immediately important to global dilemmas around our consumption footprint – in agriculture, metals and energy. Flowcarbon is an important piece of the puzzle to meet these demand requirements with verified, high quality carbon credits. The new business models and infrastructure emerging from this partnership will enable more efficient and democratized climate finance while providing connectivity to commodity flows for industry, end consumers, traders – and ultimately account, large-scale on-ramps for retailer participation.

“We see the voluntary tokenized carbon market as a powerful tool for inclusion. It enables a broad base of capital to participate in climate action alongside institutions and traditional finance. It also allows for intimacy with sources such as DeFi, industrial and traditional capital can focus on the geography, project and community of their choosing – even linking climate finance to the very communities from which mining and production of raw materials occur. This intimacy and inclusion is a game-changer and we see Flowcarbon’s cutting-edge ecosystem, technology and talent as important enablers of that future,” said Watr Foundation Co-Founder and Board Chair Maryam Ayati.

The next iteration of how society consumes and how resources fuel global prosperity requires new business models and tools to ensure a more balanced outcome: people and planet alongside profit. To that end, the partnership sees the two organizations also collaborate on a series of VCM-focused incentive development programs. The end game is to establish thriving markets and infrastructure that bring greater accountability, scale, accessibility, transparency, and price discovery to the voluntary carbon market and commodities.

For those interested in participating, please contact [email protected].

About Watr

Watr is the digital commons of ethical products. A public Layer 1 protocol and Polkadot parachain for applications serving to source, source, finance and trade in the $17 trillion commodities industry: from carbon credits to metals, agriculture and energy. The goal is interoperability between digital companies serving end-to-end a new class of ethical products for physical delivery. Watr is co-founded in a first-of-its-kind collaboration between industry giants, commodity and Web 3 pioneers including Parity Technologies.

About Flowcarbon:

Flowcarbon is a pioneering climate tech company bringing carbon credits to the blockchain. Its mission is to make carbon markets accessible and transparent, allowing an efficient and early flow of capital to invest directly in projects that fight climate change. Flowcarbon is committed to having a real impact on people, biodiversity and the planet. To learn more about our work, visit our blog.

[email protected]

Source: Flowcarbon

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European art houses brace for energy price shock https://piazzacarlogiuliani.org/european-art-houses-brace-for-energy-price-shock/ Sun, 25 Sep 2022 13:15:50 +0000 https://piazzacarlogiuliani.org/european-art-houses-brace-for-energy-price-shock/

The lasting effects of the pandemic and soaring energy prices in Europe mean continued difficulties for art house cinemas in Europe, but some cinema chains are finding new ways to survive and thrive, by especially when movies work their magic.

This is what emerges from the discussion at the Zurich summit between Christian Bräuer, managing director of Berlin-based Yorck Kinogruppe; David Laub, head of acquisitions and distribution at A24, based in New York; Stephanie Candinas, co-manager of the Arthouse Commercio Movie AG in Zurich; and Kirsten Figeroid of Sierra/Affinity.

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“The short-term outlook is for gas prices – which threaten us the most,” Bräuer said. “In Europe, most theaters have survived [the pandemic] through public support. Without public support, many small theaters, art house theaters, would have had to close.

The energy crisis could pose a much bigger threat, however, as cinemas face gas prices that have increased fivefold, which many smaller operators will not be able to afford.

Bräuer nevertheless expressed his optimism. “A lot of people have worked very hard to preserve movie theaters and help them survive. And of course, we need their support right now. Without them, we have no chance. Or maybe some cinemas will have to close because they can’t afford their energy prices. »

The energy crisis has exacerbated an already delicate situation.

“Of course, the market has changed a lot. Two long confinements, collapsing windows, etc. – it is beyond anything we could have imagined before. But I believe that curation is the key, especially since there is more and more audiovisual content.

Art house cinemas in particular can benefit from an established brand, he added.

Despite the proliferation and consumption of internet offerings, even among the elderly, there remains “a need for analog space”, Bräuer pointed out. “That’s our unique selling point.”

Indeed, Bräuer argued that cinema appeals to a much more fundamental human instinct than one can have with other forms of digital entertainment.

“Society has changed, our market has completely changed. But what hasn’t changed is the cinematic experience itself. We always sell strangers in a dark space watching movies and flickering lights – that’s the desire for a campfire.

To meet the challenges of attracting young moviegoers, Bräuer said cinemas need to brand and communicate about movies with digital natives “in their own language”.

“There are a lot of changes, but you have to be careful: it’s not a one-size-fits-all solution. … With an older audience, of course we have to work harder to bring them back. We won’t bring them all back, I’m sure. But I’m even more optimistic for the younger generation because it’s our future.

In addition to an extensive online presence, including a guest service that offers movie recommendations by phone or email, Yorck also offers a one-year subscription service that costs €19.90 (19. $28) per month, allowing customers to see as many movies as they want. , when they want, explained Bräuer.

Candinas noted that Arthouse Commercio offers similar services in an effort to build its brand and build community, in part by also bringing in filmmakers to discuss their films with audiences.

Laub offered an optimistic assessment, saying the success of big mainstream films bodes well for smaller films as well.

“As art house films are struggling and specialty distribution is in a different place than it was pre-pandemic, I think the general trend we’re seeing is people are going back to the cinema and the success of the biggest films and blockbusters is a good thing – it feels like a good thing for the cinema industry in general.

Laub added that people obviously still care about the cinematic experience, otherwise theaters wouldn’t have survived the COVID-19 crisis.

“The pandemic was the perfect excuse to get rid of movie theaters and the theater experience, and it didn’t happen. And people are delighted to be at the cinema.

Laub pointed to the extraordinary success of Daniel Kwan and Daniel Scheinert’s indie hit “Everything Everywhere All at Once,” which brought young viewers in droves to art house cinemas, pointing out that while it’s This is a “more creative and different” film than the standard comic book films, it has a similar appeal while being an original and unique film.

Figeroid noted that the pandemic and the current political situation in this world has certainly impacted the films that Sierra/Affinity seeks to produce and fund.

“Two different things: either a feel-good experience or an absolute escape is what will work best right now. Trying to tell a depressing, dark, warlike story – we see that in the news all the time We don’t need more of it in our entertainment.

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Busting Voluntary Market Myths – Environmental Finance https://piazzacarlogiuliani.org/busting-voluntary-market-myths-environmental-finance/ Fri, 23 Sep 2022 11:08:07 +0000 https://piazzacarlogiuliani.org/busting-voluntary-market-myths-environmental-finance/

With the voluntary market growing rapidly, new buyers and sellers often have misconceptions, says Michael BerendsManaging Director at ClearBlue Markets

Environmental financing: ClearBlue was voted best advisor/consultancy on voluntary carbon markets by the readers of Environmental Finance. What kind of customers do you serve and what kind of support are they looking for?

Michael Berends: Historically, we have focused on compliance markets due to the higher number of participants and volumes, although the voluntary market has always been on our radar. As interest in the voluntary market grew, we were able to once again leverage our expertise in this area. We have seen an increasing number of customers entering or considering the Voluntary Market, and they include corporate buyers looking to achieve net zero goals, traders and other financial players who use our market analytics and price predictions. , and developers around the world looking to bring offset projects to market. It’s the full spectrum of the market.

EF: What are some of the misconceptions buyers of voluntary offsets tend to have in the market?

Mo: A key misconception is that the higher the compensation price, the better. Our view is that as long as an offset is approved by a reputable registry – like Verra, the Gold Standard, the American Carbon Registry or the Climate Action Reserve – then it reduces a ton of carbon dioxide. If you’re concerned about fighting climate change, this is high quality. Other elements of the price of compensation are linked to the co-benefits that the project could bring: drinking water, gender equality, aid to poor communities, for example. All of this is really important, but if your goal is to fight climate change, as long as the offset comes from a reputable registry, which deals with additionality carefully, then it’s a good offset. Other factors, such as type of reduction – i.e. avoidance vs. deletions – impact price due to specific buyer preferences, but none are inherently better than ‘other.

EF: What challenges do developers face in bringing offset projects to market?

Mo: The first challenge is that what developers think are compensation projects very often are not. In some cases, it turns out that when you properly examine the project boundaries, a proposed project may in fact lead to increased emissions. More often than not, the developer will not be able to demonstrate additionality – that the project could not have gone ahead without the revenue from carbon offsets – and therefore is not eligible as an offset project. . Another key issue to consider is that if there is a regulation, or a carbon price signal, or any other carbon incentive for project-related activities, then it is not an offset. This is often location specific: what might be eligible for compensation in one location may not be eligible in another location due to such regulations or incentives.

For eligible projects, they often find that they generate fewer credits than expected. Auditors and registries always tend to be extremely rigorous. They go through long processes, applying methodologies and protocols that have been evaluated from a very conservative point of view. This is a very good thing, as it helps to maintain the environmental integrity of the offset market.

Basically, the main challenge is that offset projects are very difficult to develop. It takes time and effort. Offsets are not handed out like candy. Developers should be prepared for this process and the challenges they are likely to face. However, this means that when an offset comes to market from these reputable registries, the buyer can be extremely confident that it comes with a high level of environmental integrity.

EF: Compared to mandatory markets, there is much less standardization in the voluntary market. Do you foresee this likely to change, with the introduction of various codes of practice and similar initiatives?

MB: There is still room for greater standardization, and it is important that we all speak the same language when it comes to developing projects and issuing offsets. And there is also an important role for voluntary market exchanges to offer standardized contracts that can provide some degree of price discovery and transparency.

However, the inherently bespoke nature of the voluntary market means that it will never be completely standardized. As long as it responds to demand from businesses to meet their own specific needs, with buyers having different objectives, then you will see unique types of compensation coming to market, and that has implications for the amount of liquidity on exchanges in all these different compensations. types.

EF: What other expectations do you have regarding the probable evolution of the voluntary market?

MB: As demand and prices increase, the voluntary carbon market will support new types of projects and new technologies that are not viable today or have been rejected so far. For example, we are seeing considerable interest in new nature-based solutions such as blue carbon and new technologies such as direct air capture technologies, although I think the latter solution is more of a solution to longer term.

But the market’s main role in the short term will be to reduce emissions in countries and activities where it is not yet appropriate to put regulation in place – especially in parts of the world that have historically not caused the climate problem and must be able to grow their economy. Credible offsets from reputable registries and verification processes will play a vital role in helping to incentivize faster reductions in these venues than would otherwise be the case, and sending a price signal to facilitate cost reduction projects. higher that will occur in the long term.

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Considerations for Margin Protection Insurance Policies https://piazzacarlogiuliani.org/considerations-for-margin-protection-insurance-policies/ Tue, 20 Sep 2022 18:30:08 +0000 https://piazzacarlogiuliani.org/considerations-for-margin-protection-insurance-policies/

A relatively new crop insurance option that has been added in recent years by the United States Department of Agriculture’s Risk Management Agency (RMA) are “Margin Protection” (MP ). Given the expectation of much higher farm input costs for 2023, as well as some pretty strong projections for commodity prices from 2023 into the fall of 2023, there is currently a bit more interest in the Midwest regarding the potential for using MP crop insurance policies for the 2023 corn and soybean crop.

Margin Protection (MP) is an acreage-based crop insurance plan that provides protection against an unexpected drop in farm production margin (crop income less input costs) and can be purchased up to a coverage level of 95%. The decrease in margin could be caused by a reduction in county average yields or commodity prices, an increase in farm input expenses on certain variable farm input costs, or any combination of these events.

Because MP insurance is based on county-level yields and average input costs, final yield and input costs on an individual farm may or may not result in a crop insurance payout. for a given year. The deadline to purchase Margin Protection crop insurance policies for 2023 is September 30, 2022.

How margin protection works

  • MP corn and soybean insurance policies are available in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio , South Dakota and Wisconsin. Spring Wheat MP fonts are available in Minnesota, Montana, North and South Dakota.
  • MP insurance policies use average county yields, like other acreage-based federal crop insurance policies, rather than farm-level crop yields.
  • MP insurance determines a minimum margin (or “trigger”), which is determined by the following:
    • Expected Revenues (County Yield x Projected Price) minus Expected Costs = “Trigger Margin”
    • Projected commodity prices and projected costs for PM policies are determined during a “discovery period” from mid-August to mid-September, with data finalized on September 15, the year before the year of agricultural production.
  • The projected price for is the average fall price for the following year (ex. — the projected price for corn and soybeans 2023 was the average price for December 2023 corn futures and soybeans from November 2023) during the discovery period which ended on September 15. Projected prices for 2023 for MP policies are $6.11 per bushel for corn and $13.56 per bushel for soybeans.
  • Projected input costs for corn and soybeans are established during the discovery period and are divided into two types of costs:
    • Fixed costs — Seeds, chemicals, lime, machinery, etc. (Fixed costs are fixed and do not change.)
    • Variable costs (subject to change) — Diesel, DAP, potash, interest and urea (corn only)
  • Variable cost projections are set by September 15 but may be adjusted up or down by the RMA the following April, based on actual crop variable input costs. Diesel and fertilizer input costs are based on forward prices for those inputs and interest charges are based on average Federal Reserve interest rates. There may be some variation in crop input costs from county to county and between irrigated and rainfed acreage when determining MP variable costs.
  • An MP 2023 insurance policy can be purchased as a stand-alone policy or as a top-up policy to an Income Protection (RP) or Yield Protection (YP) 2023 policy, which uses income level returns. operation. The RP or YP policy for an individual farm unit becomes the basic insurance policy and the MP policy is the “top-up” policy. Producers who hold both a base policy (RP or YP) and an MP supplemental policy will be required to pay the full crop insurance premium on the base policy; however, there will be a premium adjustment on the MP policy depending on the coverage levels selected.
  • The federal government subsidizes the purchase of MP insurance policies at a subsidy rate of 55% for MP 75-80% policies, 49% for MP 85% policies, and 44% for MP 90-95 policies. %.
  • County RMA crop yields are not finalized until mid-June of the year following harvest, so MP indemnity payments will not occur until then. (Example — 2023 corn and soybean RMA county yields will not be finalized and MP indemnity payments will not occur until June 2024.) In comparison, RP and YP indemnity payments for a given year can be done at any time after the harvest of the commodities. pricing is finalized (November 1 for corn and soybeans) and on-farm performance has been verified.
  • It is possible for producers to receive MP compensation, but not RP or YP payment or vice versa, since MP policies are based on county yields and RP and YP policies are based on county level yields. operation. Producers cannot “double” the payouts of the basic insurance policy (RP or YP) and the MP policy. If the producer is eligible for indemnities for both policies, he will obtain the higher of the two policies. If the producer had already received an indemnity payment or an RP or YP policy, which would likely be paid first, that payment amount would be subtracted from the eligible MP indemnity payment if the MP payment amount is higher.
  • Benefits of using MP corn and soybean insurance policies for 2023:
    • Allows growers to have higher levels of coverage and protection than standard RP and YP policies.
    • Includes protection against rising farm input costs, as well as yield and price protection.
    • Provides an earlier “price discovery” period (mid-September) for basic corn and soybean insurance prices, rather than the traditional February period for RP and YP insurance policies.
    • The federal government subsidizes the premiums for MP insurance policies.
  • Cons of Considering Corn and Soybean PM Insurance Policies for 2023:
    • The decision for MP insurance must be made before September 30 (the year before planting).
    • A crop insurance premium and additional administrative costs will be charged for MP insurance.
    • Does not know the status of any claim payments on an MP policy until June of the following year (more than six months after harvest).
    • Individual farm yields and farm input costs are not factored into MP “margin” calculations, which could be a factor for some farms when considering MP insurance coverage.
    • Growers cannot use Supplemental Crop Option (SCO or Enhanced Coverage Option (ECO)) insurance policies with MP insurance policies because they also insure against county-level yields.
    • If growers are not concerned about the cost of inputs or the price protection offered by MP insurance coverage, there may be better alternatives for enhanced insurance coverage with spring-based insurance products. such as SCO, ECO or “complementary” insurance products offered by private insurance. companies.
    • MP insurance coverage can be difficult to understand, especially how MP insurance coverage interacts with the more traditional RP and YP insurance policies.

Margin Protection (MP) insurance policies aren’t right for everyone, but they can fit into some corn and soybean growers’ risk management plan as they plan ahead for the 2023 crop year.

Farmers should consult with a reputable crop insurance agent before deciding to use an MP insurance policy for 2023 to ensure they understand all aspects of MP policies and how MP policies interact with traditional RP and YP insurance policies. Iowa State University has a very good fact sheet on MP insurance coverage which includes some sample MP insurance policies titled: “Margin Protection (MP) Crop Insurance” which is available at: extension.iastate.edu/agdm.

For more information, contact Kent Thiesse, Farm Management Analyst and Senior Vice President, MinnStar Bank, Lake Crystal, Minnesota at 507-381-7960 or kent.thiesse@minnstarbank.com.

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Space diamonds could be the future of mining and manufacturing https://piazzacarlogiuliani.org/space-diamonds-could-be-the-future-of-mining-and-manufacturing/ Sun, 18 Sep 2022 19:00:00 +0000 https://piazzacarlogiuliani.org/space-diamonds-could-be-the-future-of-mining-and-manufacturing/

Tiny folded diamonds that fell to Earth from an ancient dwarf star may look like something out of an intergalactic feature film, but researchers in Australia and the UK have proven the existence of these rare gems after examining a stony meteorite.

Australian and British scientists have established the existence of lonsdaleite, a rare hexagonal species diamondno larger than a human hair, which the researchers note is layered in a distinctive folded pattern, unlike earth-formed diamonds which have a cubic structure.

The existence of Lonsdaleite – named after the pioneering British crystallographer Dame Kathleen Lonsdale – was once debated because its very existence could not be proven.

The research team’s lead scientist, Professor Andy Tomkins, from the School of Earth, Atmosphere and Environment at Monash University, said the mysteries of the rare diamond prompted him to continue his research on ureilite meteorites in his laboratory.

Tomkins said it was a case of curiosity-driven science.

“It’s exactly the kind of sighting that piques curiosity that sends scientists diving down rabbit holes for months,” he said.

Naturally formed ureilite meteorites contain a greater abundance of diamonds than any known rock on Earth. It is also one of the few opportunities to study the mantle layer of dwarf planets.

The samples are created when asteroids collide with a planet while they are still hot, creating the ideal conditions for lonsdaleite and diamond growth due to moderate pressure and rapid temperature drops in the environment rich in fluids and gases.

“These findings help solve a long-standing mystery regarding the formation of carbon phases in ureilites that has been the subject of much speculation,” Tomkins said.

Tomkins has also collaborated with researchers from CSIRO, RMIT University, Australia’s Synchrotron and the University of Plymouth to uncover samples of lonsdaleite in nature, providing insight into the potential replication of the process for industrial purposes.

“These diamonds are quite special,” said Alan Salek, physicist and RMIT PhD researcher.

“Normal diamonds that you would find here on Earth, like on an engagement ring, have a specific atomic structure that is cubic. These special diamonds have a hexagonal structure.

“It’s quite exciting because it’s a new form of material.”

The unique shape is believed to explain why lonsdaleite is stronger than any other diamond.

Important Implications for Mining and Manufacturing

Colin MacRae, CSIRO scientist, in a Press releasesaid the discovery has huge potential for industries like mining.

“If something that’s harder than diamond can be made easily, that’s something the industry would want to know,” MacRae said.

Macrae noted that the discovery meant they could find a way to replicate the mineral.

“Lonsdaleite could be used to make tiny, ultra-hard machine parts if we could develop an industrial process that promotes the replacement of preformed graphite parts with lonsdaleite,” he said.

Currently, the current process for producing industrial diamonds involves chemical vapor deposition, in which diamonds are formed on a substrate from a low pressure gas mixture.

By Zerohedge.com

More reading on Oilprice.com:

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Staud Spring 2023 Ready-to-Wear Collection https://piazzacarlogiuliani.org/staud-spring-2023-ready-to-wear-collection/ Fri, 16 Sep 2022 19:20:30 +0000 https://piazzacarlogiuliani.org/staud-spring-2023-ready-to-wear-collection/

The Staud girl is growing up. And Sarah Staudinger herself too. Number one customer of her brand (the proof on her Instagram), she has always designed clothes for herself and other women like her. “I think clothes always react to my life, whether it’s COVID or a personal matter like getting married. I create clothes for real moments,” Staudinger said during a preview of her spring collection. “There is a tree motif in our lookbook and images this season,” she added. “It’s emblematic of our daughter growing and exploring herself in this self-discovery.”

His collection reflects this new journey. While Staud’s previous outings have focused on travel and vacation wear, this season she’s focused on making some great basics, including poplin button-downs, fitted blazers, floaty culottes and office-appropriate dresses. But Staudinger isn’t quite ready to let go of her affinity for crop tops and matching ensembles. Bare-bellied tops, low-rise cargos and fun knit ensembles were all present.

While her marriage might have been the catalyst for the focus on evening dresses for this collection, Staudinger also just wanted to create well-made, high-priced, Staud-priced dresses for her clients. “People attend a lot of events and weddings, and no one wants to spend their entire salary on dresses. We wanted to provide variety to the customer, and our price is at the heart of our DNA,” Staudinger said. “We want the Staud woman feels expensive, without actually being expensive.” Some of the dresses showed skin for subtle moments of sexiness, via an open back or midriff cutout; others were more modest. Staud even experimented with a gorpy version of a party dress with technical nylon that looked like cellophane in beautiful earthy colors like amber. The halter portion of the dress was an elastic drawstring. These dresses seemed guaranteed to be Instagram photoable, but they’ll also look better in real life.At the new Staud store in SoHo, shoppers let out an audible gasp as the models came out.

And with all the Staud collections there were accessories that would soon go viral on an Insta-Model or Staudinger herself. She’s been focusing on mini bags this season, launching the Shirley, the Venice and others she says will still fit your phone, makeup, charger and even your vitamins. And her new shoes, which feature comfortable block heels and wedge soles, have all been tested by everyone in her office to make sure they can take you from work to a night out on the town. The Staud woman is growing, but she’s not losing her sense of style. She has just acquired shoes suitable for cobblestones.

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Ugly market, critical situation, Treasury markets, 5 ways to do it https://piazzacarlogiuliani.org/ugly-market-critical-situation-treasury-markets-5-ways-to-do-it/ Wed, 14 Sep 2022 10:54:50 +0000 https://piazzacarlogiuliani.org/ugly-market-critical-situation-treasury-markets-5-ways-to-do-it/

The ugly stick was out on Wednesday. The stick was not shy about who or what it touched, and anything it touched was worse for it. Stock index futures had traded higher early on. You could almost feel that a very negative trap had been set… for the market. Fed officials had been so hawkish in their rhetoric going in and out of Jackson Hole. Did they know something the rest of us didn’t? It sure looked like that.

Consumer inflation for August, at least as currently measured by the Bureau of Labor Statistics, hit the band on Tuesday morning. It was warmer than expected. It was hot in the wrong places. This scared away investors. Headline CPI for August came in at +0.1% month-on-month and +8.3% year-on-year. Year-over-year printing was down from July’s 8.5%, but both figures were above consensus. Yes, even with the benefit of gasoline prices which fell 10.6% month-over-month and fuel oil prices which fell 5.9% month-over-month . These prices were somewhat offset by a 3.5% m/m increase in piped gas service prices. This did not bode well for the base rate.

At the core, the August CPI (excluding food and energy) hit the band at +0.6% m/m, from 0.3% in July, and +6.3% YoY, from 5, 9% in July. This is the highest year-over-year impression since the month this series last peaked (March 2022). Almost a new high. Nobody wanted to see that. August was also the second month in a row that prices for accommodation and medical services rose above trend after both categories lagged for several months. The fact that consumer inflation continues to spread to sectors of the economy that have not been hit as hard is not only troubling, it is terrifying.

Financial markets had obviously priced in a much cooler report than the one published. The S&P 500 fell 4.32%. The worst day for the broadest large-cap index in the U.S. market since much of the country was locked down in June 2020. The Nasdaq Composite fell a very nasty 5.16%, while the semi -Philadelphia drivers took a 6.18% beating. Small cap stocks “outperformed” with the S&P MidCap 400 down “just” 3.7% and the Russell 2000 down 3.91%.

One way

They have streets after Tuesday’s regular session price discovery results…”One Way”. The losers beat the winners at the NYSE by nearly 7 to 1 and at the Nasdaq market site by about 4 to 1. Announcements. A hard lesson has been learned by those who choose not to wait for volume-based confirmation of a trend change before allocating capital. For four consecutive “up” days, we have been sounding the alarm bells on volume. I haven’t heard this warning from anyone else.

The pros finally showed up on Tuesday, and they weren’t optimistic. Overall trading volume increased 10.8% day-over-day for NYSE-listed names and 21.5% day-over-day for Nasdaq names. Trading volume on the S&P 500 and Nasdaq Composite easily surpassed their 50-day simple moving average trading volume in each case. Professional money was on the move Tuesday, trying to turn holdings into cash, but they were too late to get their price in many cases. Not everyone can use a single door to exit all at once.

Action in the Treasury markets was paramount. The yield on two-year U.S. bonds climbed 18 basis points on Tuesday to 3.75%, its highest level since October 2007. I see this particular yield trading at 3.78% this morning after peaking at above 3.8%. The yield spread between the US ten-year note and the US two-year note crossed a key trend line that had risen on Tuesday…

… The more deeply inverted stance of this gap reflects the now vastly heightened doubt about the US economy’s ability to achieve anything close to a “soft landing.” Let me explain.

Critical situation

The US central bank, already convinced that aggression is the best course, will feel compelled at this point to act more boldly in the future. The Fed will feel it almost has to hurt the US economy to restore balance to its dual mandate. In addition to the Fed’s quantitative tightening program which is just beginning, the FOMC will need to raise the Fed Funds Rate above the theoretical “neutral” rate, and likely to do so at next week’s meeting.

The case is as follows. Many of you know this. Some of you might not. We often follow the Atlanta Fed’s GDPNow model for real-time modeling of economic growth. The Cleveland Fed publishes a Nowcasting model for real-time inflation, and this model is revised daily. Currently, the Cleveland Fed model shows September CPI at 0.33% m/m and September core CPI at 0.51% m/m. That would be up from the August (yesterday) BLS print of 0.1% and 0.6%, respectively. Looking at the year-over-year base, Cleveland is showing September CPI with overall growth of 8.21% and base growth of 6.64%. That would again be up from the BLS’s impressions for August of 8.3% and 6.3%, respectively. What Cleveland is telling us is that from now on, headline inflation is stabilizing where it is, and core inflation is actually continuing to heat up. That is problematic.

This morning I see Chicago-traded futures pricing a 66% chance of a 75 basis point rate hike next week, and now a 34% chance of a full one percentage point hike . This would take the federal funds rate from the current range of 2.25% to 2.5% to 3% to 3.25%. Futures then price a 73% probability for at least another 75 basis points on November 2. This would place the FFR between 3.75% and 4%. Futures prices now expect FFR to end the year between 4% and 4.25% and peak for the cycle in February 2023 between 4.25% and 4.5%.

Remember that it usually takes at least nine months for Main Street, USA (excluding housing) to feel changes in monetary policy. People have yet to feel most of what the Fed has already done, and it hasn’t really started to impact economic activity. According to the St. Louis Fed, the velocity of M2 money supply actually increased in the second quarter.

We already know that the use of credit cards has increased dramatically. On Tuesday we learned that according to the FDIC, deposits in US banks also fell by $370 billion during the second quarter. This is the first quarterly contraction in U.S. savings since 2018 and the largest quarterly contraction in savings in U.S. history. Yes, the speed increased during the second trimester. The good people of Gotham and elsewhere plundered their savings and borrowed in order to maintain the standard of living their households had grown accustomed to. That was before they lost their jobs, which is yet to come. This is when the speed starts to drag again. This is where it gets hard. Really hard.

Markets and you

My opinion is that traders should stay “cash” into the wee hours and on weekends. Investors who need to participate should reposition weighting where exposure is greatest to areas that benefit from anything approaching inelastic demand. This is what the Fed is trying to do…destroy demand through a “reverse wealth effect”…This means that stocks must trade at reduced multiples and that other assets, even durable ones, like real estate and precious metals, may lose value perception, but perhaps not in relative terms as rates rise and the US dollar strengthens.

Areas that I consider inelastic would be utilities, healthcare, national security, and cybersecurity. There are others, but these are my areas of intervention. Cybersecurity is still expensive, so this area is tricky. I bought the dip on Tuesday, initiating new longs from two old friends… Northrop Grumman (NOC) and Palo Alto Networks (PANW). I intend to develop both posts, but honestly, who knows. Once I’m in a fight, everything changes.

The way to do it

To understand

Everything is for a reason. Slow down if necessary.

Identify

All avenues of approach, perceived threats and targets of opportunity.

Adapt

To changing environments. Become what is needed when it is needed.

Overcome

Find a way. Even in the face of persistent failure. Constantly learn.

To chase

With the mission. No start. Unending. In progress.

Yes you can. Fucked up? Have you screwed up several times? So be it. Correct course. Fight. See that little kid in the picture on your desk? This kid thinks you’re a hero. Be that hero. Be a shining beacon, even if you have never been before, of all that is pure and good. Be who this kid thinks you are. Focus on the task at hand. I know if you are well before sunrise and reading this you are a force to be reckoned with. Now roll it up. Be yourself. Be powerful. Still.

Fear is only for the wicked. So let the wicked tremble before us.

Sarge out.

Economy (all Eastern times)

07:00 – 30-year MBA mortgage rate (weekly): Last 5.94%.

07:00 – MBA Mortgage Applications (Weekly): Latest -0.8% w/w.

08:30 – PPI (August): Expected 8.9% y/y, Last 9.8% y/y.

08:30 – Core PPI (August): Expected 7.1% y/y, latest 7.0% y/y.

10:30 a.m. – Oil inventories (weekly): Last +8.844M.

10:30 a.m. – Fuel stocks (weekly): Last +333K.

The Fed (all Eastern times)

Fed blackout period.

Results Highlights (PSE Consensus Expectations)

Before opening: (DOOO) (2.63)

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Police reveal gruesome details in Sophia Mason murder case https://piazzacarlogiuliani.org/police-reveal-gruesome-details-in-sophia-mason-murder-case/ Mon, 12 Sep 2022 01:32:11 +0000 https://piazzacarlogiuliani.org/police-reveal-gruesome-details-in-sophia-mason-murder-case/

An 8-year-old girl lay dead in a bathtub for more than a month before authorities found her body, we have learned.

Police have released ‘horrific details’ of the ‘brutal and senseless murder’ of Sophia Mason after crime suspect Dhante Jackson, 34, was arrested after six months on the run.

The “macabre discovery of Sophia Mason’s lifeless body” occurred March 11 at Jackson’s home in Merced, Calif., more than a month after she was initially reported missing, but relatives have told the cops that they had not been in contact with the girl since December.

Mason’s mother and Jackson’s girlfriend, Samantha Johnson, were already in police custody on child abuse charges from 2021 at the time of the discovery and were later charged with her murder, along with Jackson.

Jackson was arrested Saturday in Newark, Calif., after six months on the run, helped by several women to evade authorities, authorities said.

At a news conference on Sunday, police said three women helped Jackson stay out of sight of officials as he moved between Merced hideouts in the Bay Area and then Southern California, to return to the Bay Area.

These women have since been charged with accessory to murder after the fact for providing “money, shelter and transportation” to Jackson.

Police named the women Daberka Thompson, a San Jose resident, Laronna Larkins, a Merced resident, and Mayra Gonzalez, a Newark resident. Cops said Jackson was living with Gonzalez at the time of the arrest.

Merced Police Lt. Joe Perez described how Mason was “subject to long-term physical abuse” from his mother and Jackson. She was also a victim of sexual abuse. He revealed how the little girl had been “dead at the residence for over a month” and was forced to live in a shed in the backyard as well as a closet inside the house. CBS News revealed that she was found in the bathtub.

She was also malnourished, the coroner noted.

“In my 20 years in law enforcement, this case is the most disturbing and gruesome I have seen,” Lt. Joe Perez said, his voice cracking.

“Knowing what this poor little angel went through at the hands of pure evil breaks my heart. Most of us here are mothers and fathers and we cherish our children, we will never understand how this could happen to a beautiful child who just wanted to be loved.

“Our thoughts and prayers are with precious Sophia and her family as they continue to grieve, even though there is nothing we can do to bring Sophia back, I hope Jackson’s arrest brings us closer Sophia’s family from closure and finally will get justice. for Sophia.

State Attorney General Rob Bonta said Sunday that “those charged with his murder must pay a high price for their heinous crimes. May today remind us that when a horrific crime like this is committed, we will spare no effort to obtain justice.

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How growth stock investors can adapt to tougher times https://piazzacarlogiuliani.org/how-growth-stock-investors-can-adapt-to-tougher-times/ Thu, 08 Sep 2022 21:03:00 +0000 https://piazzacarlogiuliani.org/how-growth-stock-investors-can-adapt-to-tougher-times/
By Alese Bagdol, Brian McPeake and Jared Spitalnick (September 8, 2022, 5:03 p.m. EDT) – There has been no shortage of limited partner allocations to the growth equity asset class over the past decade .

The attractiveness of the risk-return profile of growth stocks – occupying the space between venture and private equity buyouts – and its exposure to investments in some of the fastest growing and most defensible private companies have attracted a range of investors, each with distinct philosophies.

Growing Growth Equity Challenges

Over the past decade, competition for the highest quality growth assets has increased, driven by the attractiveness of capital-seeking companies and a favorable macroeconomic environment in which dry powder has outperformed significantly. ..

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Drug Discovery Market to Witness Incredible Growth by 2022-2028 | https://piazzacarlogiuliani.org/drug-discovery-market-to-witness-incredible-growth-by-2022-2028/ Tue, 06 Sep 2022 09:41:08 +0000 https://piazzacarlogiuliani.org/drug-discovery-market-to-witness-incredible-growth-by-2022-2028/

drug discovery

CMI presents new global drug discovery research covering the micro level of analysis by competitors and key business segments (2022-2028). Global Drug Discovery explores in-depth study on various segments like opportunity, size, development, innovation, sales and overall growth of key players. The research is carried out on primary and secondary statistical sources and consists of qualitative and quantitative details.

The study of the “Drug Discovery Market” report 2022 involved research on the development landscape and detailed information on market growth strategies. The market report covers research data and market resource records for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help to understand market patterns, growth drivers, future opportunities and risks ahead. and competitors. The classification also involves the competitive domain, extended key vendors and manufacturers in the expanding drug discovery market.

@: https://www.coherentmarketinsights.com/insight/request-sample/1631

Some of the major trends in drug discovery technology are:

1. The use of more sophisticated and sensitive leak detection equipment. This equipment is able to detect even very small leaks, which is important to ensure product quality and safety.

2. The use of computerized leak detection systems. These systems can automatically detect and log leaked information, helping to improve efficiency and accuracy.

3. The development of new leak detection methods. These methods are constantly being developed in order to improve accuracy and efficiency.

4. The use of more advanced analytical techniques. These techniques help to better understand the causes of leaks and find ways to prevent them.

Some of the Major Key Players profiled in the study are: Pfizer Inc., GlaxoSmithKline LLC, Merck & Co. Inc., Agilent Technologies Inc., Eli Lilly and Company, F Hoffmann-La Roche Ltd, Bayer AG, Abbott Laboratories Inc. , AstraZeneca PLC and Shimadzu Corp.,

Key factors

There are several key drivers of the drug discovery market. First, the ever-increasing demand for higher quality products has led manufacturers to demand more reliable and accurate drug discovery methods.

Second, the development of new, more sensitive leak detection techniques has led to an increase in the service market.

Drug Discovery Market Taxonomy:

By drug type:

• Small molecule drug
• Biological medicine

By technology:

• High throughput screening
• Biochips
• Bioinformatics
• Pharmacogenomics and Pharmacogenetics
• Combinatorial chemistry
• Nanotechnology
• Spectroscopy
• Metabolomics
• Other technologies

By Services:

• Drug Metabolism and Pharmacokinetics (DMPK) Services
• Pharmaceutical Services
• Chemical Services
• Biological services

𝐑𝐞𝐜𝐞𝐢𝐯𝐞 𝐚 𝐅𝐮𝐥𝐥 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐑𝐞𝐩𝐨𝐫𝐭: (𝐈𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐅𝐮𝐥𝐥 𝐓𝐎𝐂, 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐓𝐚𝐛𝐥𝐞𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭) @ https://www.coherentmarketinsights.com/insight/request-pdf/1631

The country section of the Drug Discovery market report provides individual market impacting factors and regulatory changes in the national market that impact current and future market trends. Data points such as consumption volumes, production sites and volumes, import-export analysis, price trend analysis, raw material cost and value chain analysis in downstream and upstream are some of the important indicators used to forecast the market scenario for each country.

➸ North America (USA, Canada)
➸ Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
➸ Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
➸ Latin America (Brazil, Mexico, Others)
➸ The Middle East and Africa.

The study is a source of reliable data on: Market segments and sub-segments, Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological innovations Value chain and investor analysis.

Market Interpretation Tools: The report incorporates the fully examined and assessed information of key players and their position in the market by methods for various descriptive tools. The methodical tools including SWOT analysis, Porter’s five forces analysis, and ROI review have been utilized while breaking down the development of major players operating in the market.

Key Growths in the Market: This section of the report incorporates essential marker improvements which contains assertions, coordinated efforts, R&D, dispatch of new items, joint ventures, and associations of key players working in the market.

Market Key Points: Key features of this Drug Discovery market report include production, production rate, revenue, price, cost, market share, capacity, utilization rate of capacities, import/export, supply/demand and gross margin. Key market dynamics along with market segments and sub-segments are covered.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐒𝐃 𝟐𝟎𝟎𝟎 𝐎𝐅𝐅 @ @ https://www.coherentmarketinsights.com/promo/buynow/1631

About Us:

Coherent Market Insights is a global market intelligence and advisory organization that provides syndicated research reports, custom research reports and advisory services. We’re known for our actionable insights and genuine reports in a variety of fields, including aerospace and defense, agriculture, food and beverage, automotive, chemicals and materials, and virtually any field and an exhaustive list of subdomains under the sun. We create value for our clients through our highly reliable and accurate reports. We are also committed to playing a leadership role in providing insights in various post-COVID-19 sectors and to continuing to deliver measurable and sustainable results to our clients.

Contact us:

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Consistent market information
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This press release was published on openPR.

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