The COVID Reckoning That Never Came

Key Events This Holiday-Shortened Week: PCE, Durables, Consumer Confidence And Fed Speakers SSDD: with stocks set to hit new record highs, the hope this morning once again is that the days may be numbered for the war in Iran, with momentum building since the start of the weekend that a deal could be in the works. Brent, which ended last week at $103.54/bbl, is this morning trading at $97.87/bbl, around -5.48% lower than Friday’s close. However, Brent had got as low as $96.02 late yesterday before news overnight that US and...

Spain Gasses Its Own People; Police Probe Migrant/Soros NGO Acid Buys In Ceuta Authored by Steve Watson via Modernity News, Spanish National Police have been examining a bulk purchase of hydrochloric acid and aluminium foil in Ceuta after supermarket staff flagged a large group of migrants, reported as mostly Moroccan, buying the two products together. Spanish outlets citing police sources identified activists from the NGO No Name Kitchen as accompanying those buyers. Investigators have been trying to establish whether the materials were meant for homemade "acid bombs" - plastic bottles packed with...

Texas Pacific Land Crashes After Largest Shareholder Dies Land-and-royalty company Texas Pacific Land Corp. crashed the most since early Covid after the head of its largest shareholder unexpectedly died.  Bloomberg reports that Murray Stahl, CEO of Horizon Kinetics and a TPL board member, died on Thursday, sending shares spiraling lower by 17% in late-afternoon trading. This marked the largest intraday decline in the stock since early 2020. Stahl was described as a longtime believer in TPL, one of the largest private landowners in Texas, with most of its acreage concentrated in the...