Dollar-denominated trade figures for China in December 2021
Chinese Trade Balance (USD) December 94.46B
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rssNorth Korean hackers stole a total of $395 million worth of crypto coins in 2021
- a nearly $100 million increase over the previous year’s thefts by North Korean hacker groups
- total over the past five years to $1.5 billion in cryptocurrency alone
- the seven breaches in 2021 amount to three more than in 2020 (dwon on the 10 in 2018, when they stole a record $522 million)
Link above for more.
Brilliant Down pointing backhand index The most recent #inflation narrative will most probably also turn out to be short lived.
US stocks slide into the close
Selling in the major stock indices accelerated into the close, with all the indices all closing near the lows for the day.
- The NASDAQ index was the biggest loser and fell for the first time in four trading sessions
- The Dow and S&P broke their two day win streak
- All three indices are now on track for weekly losses
- The declines in stock closed despite lower levels in interest rates. The 10 year yield is trading down -3.5 basis points at 1.70%.
The final numbers are showing:
- Dow fell -175.05 points or 0.048% at 36115.26
- S&P is down -67.10 points or -1.42% at 4659.19
- Nasdaq is down -281.57 points or -2.51% at 14806.82
- Russell 2000 is down -16.62 points or -0.76% at 2159.43
Looking at the Nasdaq index below, the price is now 8.67% from the all time intraday high and looks toward the 200 day MA again at 14719.42. On Monday, the price moved below the MA level on its way to an intraday low at 14530, before bouncing back higher and retesting the higher 100 day MA at 15278.
On a move back below the 200 day MA, there should be more liquidation with the 50% of the move up from the March 2021 low at 14304 and the swing lows from July 2021 and October 2021 at 14181.69 as the next major targets.
Thought For A Day
Another 10 Year Challenge
China 2022 GDP expected around 5.5% in 2022
Economic growth in China this year is projected at around 5.5%
- from an estimated 8.2% in 2021
Further estimates:
- 5.2% Q1 2022
- 5.5% Q2
- 5.6% Q3
- 5.7% Q4
Shipping giant Maersk warns port congestion is continuing
Maersk:
“The pandemic is still going strong and unfortunately, we are seeing new outbreaks impacting our ability to move your cargo. General sickness remains high as key ports in key regions are seeing new coronavirus peaks.”
In Europe … longer waiting times.
UK, … waiting time delays for vessel berthing ran to seven to 10 days
“The port of Antwerp had up to 10 days wait last week. This week, the numbers could be down to two days.”
At Los Angeles and Long Beach, delays for vessel berthing ranged from 28 days to 45 days, with all North American west coast ports being either “challenging” or “critical”.
In China, the outbreak of coronavirus in Beilun had yet to have an effect on container shipping operations at Ningbo’s five container terminals
Elon Musk says still work to do before TSLA launch in India
ICYMI – Fed’s Bullard is a maybe on 4 rate hikes in 2022
Bullard spoke with the Journal, post is here from overnight:
- Fed’s Bullard: “I actually now think we should maybe go to four hikes in 2022″
“If we get a couple of rate-hike moves under our belt during the first part of this year then we’ll be in better shape” for monetary policy over the longer run, and it might allow the Fed to not raise rates as much over time as would be the case if rate rises are delayed, Mr. Bullard said.
Here is the FULL TRANSCRIPT of the interview for more detail (may be gated
