Trading Desk Notes For November 20, 2021
11/23/2021 2:15 PMA handful of BIG cap tech stocks make all the difference The DJIA and the small-cap indices closed lower for two consecutive weeks (the DJIA fell as much as 1,000 points from last week’s high to this week’s low) – but the Nasdaq and the S+P 500 indices hit new...
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El Salvador announces plans for a Bitcoin City
11/23/2021 1:48 PMEl Salvador will build a Bitcoin City powered by geothermal energy from a nearby volcano, President Nayib Bukele said (not on SNL) this weekend. The city will be circular in shape to resemble a bitcoin, and residents will encounter tributes to the crypto in the city’s...
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You shall not pass: Tolkien estate blocks ‘The Lord of the Rings’ JRR Token
11/23/2021 1:16 PMThe Lord of the Rings-themed “JRR Token” has met a “bag end” after being forced to close up shop following legal action from the family and estate of the famed series’ author. J.R.R. Tolkien, who died in 1973. On Tuesday, Law360 reported that the Tolkien Estate had...
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Visa and MasterCard’s duopoly is under threat
11/22/2021 2:55 PMIn the fast-changing world of payments, Visa is beginning to feel as left out as those of us who didn’t get invited to a Friendsgiving. Last week, Amazon said it would stop accepting Visa-branded credit cards from UK customers beginning next year. That move follows...
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Looks like the start of a U-Turn on inflation. 2-year and 10-year yields jump.
11/22/2021 2:34 PMThe White House announced today that President Biden, eager to get something through the Senate without a long bruising fight, will re-nominate Republican Jerome Powell for a second term as chair of the Federal Reserve’s Board of Governors and will elevate Democrat...
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Hunter Biden’s Private Equity Firm Facilitated $3.8 Billion Chinese Purchase Of American-Owned Cobalt Mine
11/22/2021 11:46 AMAn investment firm founded by Hunter Biden facilitated a $3.8 billion purchase of an American-owned cobalt mine by a Chinese conglomerate, placing a key resource used in the manufacture of electric car batteries under foreign control, according to the New York Times....
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Why are investors turning to mortgage funds?
11/22/2021 11:18 AMReturns on GICs and “high-rate” savings accounts have been in general decline for decades. Investors in these low income-generating products now face an uphill battle as inflation accelerates, with countries printing money at an astounding rate. Real inflation numbers...
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Revealed: Documents Show Bill Gates Has Given $319 Million to Media Outlets
11/22/2021 10:26 AMSEATTLE — Up until his recent messy divorce, Bill Gates enjoyed something of a free pass in corporate media. Generally presented as a kindly nerd who wants to save the world, the Microsoft co-founder was even unironically christened “Saint Bill” by The Guardian. While...
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Scientists want to engineer bacteria to sustainability mine rare earths
11/22/2021 10:21 AMA new study published in Nature Communications describes a proof of principle for engineering a bacterium, Gluconobacter oxydans, that takes a first step towards meeting skyrocketing rare earth element demand in a way that matches the cost and efficiency of...
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Quote of the Week & Goofy Award
11/20/2021 10:15 AMQuote of the Week In a world where feelings dominate over facts, acclaimed psychologist, Drew Weston's great insight into why our debates are so over heated. Hint: he's talking to you and me. Goofy Award Just another example of major companies bowing to China's...
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