A Shocked Wall Street Reacts To The Netflix Implosion

By Tyler Durden, For the second quarter in a row, Netflix stock has cratered after reporting earnings: NFLX plunged 28% – losing $42 billion in value – after the company announced that not only did its paying subs shrink for the first time since 2011 in the first quarter, but the company forecast the loss […]

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EU To Impose Full Embargo On Russian Oil Next Week, Will Send Price Above $185 According To JPMorgan

By Tyler Durden, Update (13:15 ET): What was largely a theoretical modeling exercise until moments ago, is set to go live because Reuters reports that the EU is set to declare a full embargo on Russian oil after this weekend’s French election: EU GAS PRICE TO SHOOT UP AS EU TO DECLARE EMBARGO ON RUSSIAN OIL […]

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Goldman Quietly Sells Billions In Stocks For The Third Quarter In A Row

By Tyler Durden, While most analysts and traders were digging through Goldman’s stronger than expected Q1 earnings report which beat on revenue and EPS, and despite some weakness in investment banking more than redeemed itself with stellar FICC numbers, thanks this time to the Commodity not Credit “C”… … which sent Goldman stock higher, for the third quarter in […]

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Chinese Oil Giant To Exit US, Canada And UK Over Fears Of Western Sanctions

By Tyler Durden, An odd thing happened this week: for obvious reasons, Russian usage of the Chinese yuan has been booming in recent weeks, with the Nikkei reporting that Russia boosted yuan holdings over dollar just before the invasion (having previously dumped all of its Treasury holdings all the way back in 2018 telegraphing what was coming to anyone […]

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China Trade With Russia Soars 28% In 2022

By Tyler Durden, For those curious who will pick up Russia’s trade slack now that most western nations have shunned the Putin regime, here’s your answer. On Wednesday, China revealed that overall trade with Russia soared to 243.03 billion yuan ($38.18 billion) in January-March, up 27.8% from a year earlier. It wasn’t just Russia however, […]

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Biden’s Regressive Inflation Tax & The Money Illusion

By Tyler Durden, The poor are suffering most from inflation, even though their wages have risen by the largest percentage… as the ‘money illusion’ takes hold across America… Money illusion is an economic theory positing that people have a tendency to view their wealth and income in nominal dollar terms, rather than in real terms. In other words, it is assumed that people do […]

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Palladium, Platinum Soar After London Market Blocks Russian Products

By Tyler Durden, First Russian gold and silver, then diamonds, now platnium and palladium. On Friday, newly refined Russian platinum and palladium was suspended from trading in London, denying Russia access to the metals’ biggest trade hub in the latest in a growing list of measures against Russian interests because of the conflict in Ukraine. Of course, […]

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Goldman Updates Blockchain-Exposed Equities Basket As Bitcoin-Stocks Correlation Hits Record High

By Tyler Durden, In a world of heightened risks, investors often lean into ‘stores of value’ as a way to insulate capital from elevated volatility. So far, in 2022, gold has once again proven to be a preferred ‘store of value’ with the commodity gaining 5.7% YTD (even as the S&P has lost 6% of […]

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Washington Blocks Russian Dollar Bond Payments In Latest Attempt To Isolate Moscow

By Tyler Durden, As Washington casts about for ways to tighten the financial screws on Russia, the Treasury late last night announced another measure to try and isolate Moscow from the international financial system. Per Reuters, the Russian state will no longer be allowed to make dollar debt payments from its accounts at US banks going forward. […]

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British Government Admits “Cannot Completely Nullify” Pressure On Energy Costs

By Tyler Durden, Via The Epoch Times, It is not possible to “completely nullify” the pressures on energy prices, a Cabinet minister has said, as demonstrators gather across the country over the cost-of-living crisis. But Northern Ireland Secretary Brandon Lewis said the Government is “looking… across the board at what we’re doing with the public’s money”, and will “put in […]

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