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    Daily Digest 3/28 – Why U.S. Bond Yields Plunged This Week, Could HFCS Feed Tumors?

    by DailyDigest

    Thursday, March 28, 2019, 8:35 AM

Economy

The trouble with Theresa May’s promise to resign (tmn)

After weeks of chaos, the past few days’ developments might make it look as if Britain is at last feeling its way towards a solution to its crisis. Mrs May’s supreme sacrifice is designed to persuade her rebellious Tory mps to vote for her unpopular Brexit deal. More promisingly, Parliament is working on a backup plan of its own, beginning this week with a series of votes designed to winkle out what kind of Brexit deal could command a majority if Mrs May’s fails.

Jamie Dimon: Trump’s strategy on tariffs might have worked (Sparky1)

Trump lobbed tens of billions of dollars of tariffs on Chinese products in a bid to ramp up the pressure on Beijing. China retaliated with tariffs on US products like soybeans, leaving American farmers caught in the middle.

Peter Schiff was right again (Herman J.)

“I said that if they ever tried to normalize interest rates, if they ever tried to shrink the balance sheet, they would ultimately abort the process…that they would fail in their mission.”

A Huge Options Trade Is Betting Markets Are Wrong on Fed Cuts (Adam)

To be sure, the trade may be a move to take advantage of opportunities in short-term rates after front-end volatility jumped in recent days. And with almost nine months until expiry, there’s plenty of time to adjust exposure while the Fed remains on hold. The position also stands to benefit from any year-end funding squeezes.

Here’s Why U.S. Bond Yields Plunged So Much Over the Past Week (Thomas R.)

Refinancing in effect increases the rate of prepayments. That in turn alters a key characteristic of mortgage bonds: duration, or how much their price reacts to changes in interest rates. Managers of bond investments tend to have targets for duration, so a shift can prompt some to buy interest-rate swaps in order to hit those goals. Citigroup Inc. strategist Jabaz Mathai believes that’s what happened last week when 10-year Treasury yields slipped below 2.5 percent in the wake of the Federal Open Market Committee meeting.

Donald Trump just made sure health care will decide the 2020 election (Thomas R.)

It’s a baffling move for Trump, who spent most of Monday basking in the glow of a series of conclusions, according to Attorney General Bill Barr, in special counsel Robert Mueller’s report that were about as favorable as the President could have hoped for: That the special counsel did not establish that anyone in Trump’s campaign conspired with the Russian government in 2016 election interference, and that there was not sufficient evidence for Barr to establish an obstruction of justice charge against the President.

UPS just beat out Amazon, FedEx, and Uber to make America’s first revenue-generating drone delivery (Thomas R.)

“This particular use case of healthcare specimens within the healthcare campus is not only critical in a just-in-time event, but it could be a life-changing event,” Bala Ganesh, the vice president of the Advanced Technology Group at UPS, told Business Insider. “The capabilities we bring to the table adds on to the capabilities for healthcare to provide better service and patient care to their patients.”

Hospital using drones to fly blood samples between buildings (Thomas R.)

The WakeMed program will start by flying patients’ medical samples one-third of a mile (.5 kilometer) from a medical park to the main hospital building for lab testing at least six times a day five days a week, Matternet CEO Andreas Raptopoulos said in an interview. Vials of blood or other specimens will be loaded into a secure box and carried to a drone launching pad, where they will be fastened to the aircraft and flown to another building. He said the flights will technically be within sight of operators on either end of the route, and they are authorized to fly above people.

Three Lessons From ‘Failed’ Mueller Inquiry (Matt H.)

So, in short, Russia-gate has been two years of wasted energy by the left, energy that could have been spent both targeting Trump for what he is really doing rather than what it is imagined he has done, and targeting the Democratic leadership for its own, equally corrupt practices.

New York county takes ‘extremely unusual’ step to ban unvaccinated minors from public places amid measles outbreak (Sparky1)

“State law gives health departments authority to broadly implement control measures in response to outbreaks,” Jason McDonald, a spokesman for the US Centers for Disease Control and Prevention, wrote in an email, noting that the CDC provides technical assistance to state and local health departments.

Joint Vision 2020 Emphasizes Full-spectrum Dominance (newsbuoy)

Joint Vision 2020 addresses full-spectrum dominance across the range of conflicts from nuclear war to major theater wars to smaller-scale contingencies. It also addresses amorphous situations like peacekeeping and noncombat humanitarian relief. Key to U.S. dominance in any conflict will be what the chairman calls “decision superiority” — translating information superiority into better decisions arrived at and implemented faster than an enemy can react.

Venezuelans search for water as new blackouts hit nationwide (Sparky1)

On Wednesday morning, a new disruption to the power grid left 91 percent of the country offline, reversing a “partial recovery” since the start of the latest nationwide blackouts, according to Netblocks, a group that monitors internet censorship. By afternoon, the flow of power remained erratic, returning in some areas only to go off again in a pattern that is now familiar.

For Venezuela’s 1 percent, a lavish wedding amid crisis (Sparky1)

“Hosting a celebration amid these circumstances is obviously tough, but that’s why we did the work at the hospital,” said the groom, Juan Jose Pocaterra, the 32-year-old co-founder and CEO of Vikua, a startup tech company whose name means “Quality of Life” and that Forbes magazine has called one of Latin America’s most promising.

Why Increased Pot Use in Colorado Is Sending More People to the Hospital (Thomas R.)

During that time period, they found, cannabis-related visits shot up more than threefold. Roughly a quarter of these visits (27 percent) could be directly attributed to using cannabis, they also estimated. And while people more often ended up in the hospital from smoking pot, pot edibles were more likely to cause problems.

Bayer and Johnson & Johnson Settle Lawsuits Over Xarelto, a Blood Thinner, for $775 Million (Thomas R.)

Xarelto is one of a new group of blood thinners intended to replace warfarin, a widely used and decades-old drug that required frequent blood tests and a strict diet. Xarelto, along with similar drugs like Eliquis and Pradaxa, did not require such tests.

British Airways accidentally sent a plane to Scotland instead of Germany — and it turns out flights getting lost is more common than you think (Thomas R.)

An Associated Press analysis of flight records found that at least 150 flights by US carriers alone landed or started to land in the wrong place between the early 1990s and 2014. The review did not cover diversions because of emergencies, such as faults with the plane or medical incidents on board.

A computer outage led to flight delays for some of the US’s biggest airlines (Thomas R.)

The latest problems happened amid flight cancellations and delays resulting from the Federal Aviation Authority’s decision to ground all Boeing 737 Max jets in response to two deadly crashes involving the model over the past six months. The Sabre outage has nothing to do with the Boeing groundings or the resulting delays, but together, these issues have led to inconveniences for thousands of customers.

Infected U.S. Shale Oil Is Being Turned Away by Asian Buyers (Adam)

In the case of American condensates, a type of ultra-light oil pumped in shale fields, cargoes can get pollutants such as “oxygenates, metals and cleaning agents,” said Sebastien Bariller, senior vice president at South Korea’s Hanwha Total Petrochemical Co. That’s causing uncertainty around U.S. oil quality, unlike purchases from the Middle East, where quality is stable, he said.

Saudi Arabia Is Set To Drop Exports Even More (Thomas R.)

The combination of potentially lower exports and tighter physical market leads us to believe that it is only a matter of time before Brent hits $70/bbl. We also believe the catalysts to keep pushing oil prices higher will be from the bullish EIA storage reports every Wednesday.

High-fructose corn syrup boosts intestinal tumor growth in mice (newsbuoy)

Does sugar directly feed cancers, boosting their growth? The answer seems to be ‘Yes’ at least in mice according to a study led by researchers at Baylor College of Medicine and Weill Cornell Medicine. Their study, published in Science, showed that consuming a daily modest amount of high-fructose corn syrup — the equivalent of people drinking about 12 ounces of a sugar-sweetened beverage daily — accelerates the growth of intestinal tumors in mouse models of the disease, independently of obesity. The team also discovered the mechanism by which the consumption of sugary drinks can directly feed cancer growth, suggesting potential novel therapeutic strategies.

Gold & Silver

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