NFL moving Patriots/Broncos game to Monday night amid COVID-19 cases – WCVB Boston

  1. NFL moving Patriots/Broncos game to Monday night amid COVID-19 cases  WCVB Boston
  2. Tennessee Titans in limbo after violating COVID-19 protocol | ProSoccerTalk | NBC Sports  NBC Sports
  3. The NFL Reportedly Denied the New England Patriots’ Simple COVID-19 Request  Sportscasting
  4. Patrick Mahomes and pregnant fiancée sleeping in separate rooms amid COVID concerns  TODAY
  5. Belichick says Patriots taking things day by day after positive COVID tests  WJAR
  6. View Full Coverage on Google News



Source: Google News, NFL moving Patriots/Broncos game to Monday night amid COVID-19 cases – WCVB Boston

Trump adviser Cortes blasts debate commission as 'corrupt and complicit swamp cabal' over format change

Trump 2020 campaign senior adviser Steve Cortes accused the Commission on Presidential Debates (CPD) of playing “pandemic politics” Thursday after they announced that the second presidential debate, slated for Oct. 15, would be held in a virtual setting.

Source: Fox News, Trump adviser Cortes blasts debate commission as ‘corrupt and complicit swamp cabal’ over format change

'It's a madhouse!': Tourists pile into Cancun airport after hurricane hits

'It's a madhouse!': Tourists pile into Cancun airport after hurricane hitsTourists from around the globe thronged Cancun’s international airport on Thursday, shunning social distancing norms, a day after Hurricane Delta hit the Mexican beach resort and forced mass evacuations, hotel closures and flight cancellations. For 28-year-old New Jersey native Anthony Ricci, an idyllic Caribbean vacation had turned into a nightmare. Other tourists fretted the crowding could feed the spread of coronavirus in Mexico, which has recorded almost 83,000 fatalities from COVID-19, the fourth highest globally.



Source: Yahoo News, ‘It’s a madhouse!’: Tourists pile into Cancun airport after hurricane hits

‘Saturday Night Live’: Host Bill Burr Gets Awkward For New Teaser, Maya Rudolph Gears Up For VP Debate Skit As Kamala Harris – Deadline

  1. ‘Saturday Night Live’: Host Bill Burr Gets Awkward For New Teaser, Maya Rudolph Gears Up For VP Debate Skit As Kamala Harris  Deadline
  2. Bill Burr Wants to Be SNL’s Host and Musical Guest  Saturday Night Live
  3. ‘SNL’ drops Morgan Wallen from show for partying without mask  Atlanta Journal Constitution
  4. What’s Trending: Morgan Wallen SNL, Pence fly on head & Tennis boyfriend  WBIR Channel 10
  5. Morgan Wallen pulled from ‘SNL’ due to ‘COVID protocols’  Yahoo Entertainment
  6. View Full Coverage on Google News



Source: Google News, ‘Saturday Night Live’: Host Bill Burr Gets Awkward For New Teaser, Maya Rudolph Gears Up For VP Debate Skit As Kamala Harris – Deadline

For The Second Straight Month, The Fed Bought Zero Bond ETFs

For The Second Straight Month, The Fed Bought Zero Bond ETFs

Tyler Durden

Thu, 10/08/2020 – 19:50

For much of the past seven months, the biggest story in capital markets was the Fed’s Blackrock-mediated purchases of corporate bonds, either in the primary or secondary market or via ETFs.

As a reminder, while the Fed pre-announced its intention to purchase up to $750BN in corporate bond (including certain fallen-angel junk bonds) in March, it started purchasing bonds in May, and bond ETFs in June (among which such mainstays as LQD and HYG). By directly entering the corporate bond market – something none of his predecessors dared to do even at the depths of the financial crisis  – Powell created what many – us included – said the biggest corporate and junk bond bubble in history, because by backstopping prices the Fed terminally disconnected fundamentals from prices.

And, as expected, bond prices, stocks, and ETFs all surged while yields plunged, even while the underlying cash flow fundamentals deteriorated as everyone was trying to front-run the Fed’s pending or concurrent massive purchases. In other words, by jawboning alone, the Fed accomplished its handiwork.

Yet something odd happened last month: in all of August, when during the peak summer doldrums it was SoftBank’s turn to steal the spotlight with its now infamous gamma meltup, the Fed did not buy a single ETF, and barely bought any corporate bonds, which prompted us to ask: is Powell sending markets a message?

In retrospect it appears he was, because after an early swoon in the first days of September, stocks suffered their first major bout of turbulence since June last month when they closed in the red for the first time since the covid pandemic broke out.

So fast forward to today when the Fed released the latest monthly activity details under its Secondary Market Corporate Credit Facility when we find that for the second month in a row, the Fed bought zero corporate ETFs…

… and logically, the number of ETF shares held was unchanged for the second consecutive month:

Looking at the bond level data showed a similar picture: here the Fed or rather Blackrock was just a bit busier, and bought just $420 million par value of bonds between Aug 31 and Sept 29, after purchasing just $421 million the month prior.

However, unlike August when Blackrock purchased $7 million in Apple bonds across three CUSIPs with maturity dates in 2023, 2024 and 2025.

Why the Fed continues to buy Apple bonds – which are arguably the most liquid corporate bonds in the world – remains a mystery.

In any case, the modest September purchases, the Fed’s total corporate bond holdings rose by $394 million from $3.988 billion to 4.382 billion, an amount which also included the redemptions of several issues.  And when combined with its $8.618 billion in ETF holdings, this means that as of August 31, the Fed owned just over $13 billion in bonds and ETFs.

Why is this notable?

Because this $13BN of bond purchases to date is a long way away from the $750BN figure the Fed initially said it was targeting and is far below the bogey the market has in mind. , as Johnson says “is currently in market participants psyche (i.e., 1.8% of what many continue to think the Fed will spend)”.

What are the implications?

The fact that the Fed stopped supporting the corporate bond ETF market during August and then again in September, appears to be a rather stark – if still unspoken – reversal in Fed policy stance, and one which we wish a “financial reporter” had asked Chair Powell to explain why during last month’s FOMC conference.

The key question, as we asked one month ago, “could it be that the Fed is starting to telegraph to the market that it moved too far, too fast? We hope to have the answer one month from today when we will learn if the Fed bought no ETFs for 3 consecutive months, and remember: “Once is happenstance. Twice is coincidence. Three times is enemy action.”



Source: Zero Hedge, For The Second Straight Month, The Fed Bought Zero Bond ETFs

Japan’s real wages fall for sixth straight month as pandemic bites

October 8, 2020

TOKYO (Reuters) – Japan’s inflation-adjusted real wages fell for the sixth straight month in August, reflecting a big drop in overtime pay due to the impact on the labour market from the COVID-19 pandemic, government data showed on Friday.

Labour ministry data showed real wages, a key barometer of households’ purchasing power, dropped 1.4% in August from a year earlier, following a downwardly revised 1.8% decline in July.

Wage earners’ nominal total cash earnings fell 1.3% to 273,263 yen ($2,578.68) in August from a year earlier, the fifth consecutive month of declines.

The drop in overtime pay and summer bonuses added to a modest decline in regular pay as the economic blow from the coronavirus crisis prompted companies to cut costs.

Overtime pay, a key gauge of strength in corporate activity, dropped 14.0% in the year to August, following a downward revision to a 17.1% drop and down for a full straight year.

Regular pay – or base salary, which makes up most of total cash earnings – slipped 0.1% in August, down for the first time since June 2019.

Special payments, which predominantly consists of one-off bonuses, fell 4.0% in the year to August, the data showed.

Wage earners’ cash earnings fell about 1% during the January-August period compared with the same period a year ago.

(Reporting by Tetsushi Kajimoto; Editing by Kim Coghill)

Asian markets to inch up as U.S. stimulus talks restart

October 8, 2020

By Imani Moise

NEW YORK (Reuters) – Asian shares were set to track Wall Street gains on Friday as revived hopes for a U.S. stimulus deal helped investors overlook weaker-than-expected jobs data and growing global coronavirus cases.

In energy markets, oil prices rallied on production shutdowns ahead of a storm in the U.S. Gulf of Mexico and the possibility of supply cuts from Saudi Arabia and Norway.

U.S. President Donald Trump on Thursday said talks with Congress had restarted on targeted fiscal relief, after calling off negotiations earlier this week.

House Speaker Nancy Pelosi downplayed the likelihood of stand-alone bills without more comprehensive aid, but the fact that talks had resumed was enough to lift markets.

Futures for the S&P 500 <EScv1> rose 0.44%, Australia’s S&P ASX 200 futures <YAPcm1> were 0.20% higher and Japan’s Nikkei 225 futures <NKc1> added 0.32% in early Asia.

Mixed messages about stimulus will likely continue to trigger choppy markets, analysts said.

“Optimism over additional fiscal support in the U.S. resurfaced, but the back and forth between policymakers could see volatility linger for a while yet,” said senior ANZ Research economist Miles Workman in a note.

The Dow Jones Industrial Average <.DJI> rose 0.43%, the S&P 500 <.SPX> gained 0.80% and the Nasdaq Composite <.IXIC> added 0.5%.

MSCI’s gauge of stocks across the globe gained 0.76%.

Gold also rose on stimulus hopes with the yellow metal <XAU=> up 0.1% at $1,889.50 on Thursday and U.S. gold futures <GCcv1> 0.2% higher at $1,895.10.

Meanwhile, the number of jobless claims in the U.S. came in 20,000 higher than economists expected at 840,000 showing unemployment in the world’s largest economy remains historically high and recovery in the labor market losing momentum.

Additionally, the World Health Organization reported a record one-day increase in global coronavirus cases on Thursday, led by a surge of infections in Europe. Cases are also rising in about 30 out of 50 U.S. states including New York, once the epicenter of the U.S. outbreak, which recently re-implemented school and business closures to stave off a second wave.

The downbeat economic data and health outlook fueled risk-off appetite for U.S. treasuries.

U.S. 10-year yields <US10YT=RR> dropped to 0.766%, from 0.785% late on Wednesday, while yields on U.S. 30-year bonds <US30YT=RR> fell to 1.569% from 1.589%.

Oil prices pushed higher amid hurricane-related shutdowns and possible OPEC production cuts.

Brent crude <LCOc1> settled up $1.35, or 3.2% to $43.34, after falling 1.6% on Wednesday. U.S. West Texas Intermediate (WTI) crude <CLc1> added $1.24 cents, or 3.1%, to $41.19 after falling 1.8% on Wednesday.

The dollar index <=USD> was little changed against a basket of major currencies after Thursday’s session settling at 93.60.

(Reporting by Imani Moise; Editing by Sam Holmes)

Dodge City

Mike Pence and Kamala Harris came ready to dance last night, and they had perfected their sidestep.

Source: Failing New York Times, Dodge City

Trump doctor anticipates 'safe return' to public events on Saturday after COVID-19 treatment – New York Post

  1. Trump doctor anticipates ‘safe return’ to public events on Saturday after COVID-19 treatment  New York Post
  2. Democrats rip Trump for suggesting Gold Star families could have given him Covid-19  POLITICO
  3. Trump can return to ‘public engagements’ this weekend, White House physician says  Fox News
  4. Trump appears to blame Gold Star families for coronavirus infection  CNN
  5. What you need to know about HIPAA, from the law’s author  CBS News
  6. View Full Coverage on Google News



Source: Google News, Trump doctor anticipates ‘safe return’ to public events on Saturday after COVID-19 treatment – New York Post