Doomsday clock is ticking
November 19, 2024
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–Stocks appear to be starting the session on their back foot (ESZ4 -30). Something about Putin updating Russia’s nuclear doctrine as Biden gave a green light for Ukraine to use western weapons on internal Russian targets. Sounds ominous, but prolly good for bitcoin…right? That’s where we are now…
–Lina Khan closing out her term by pressuring Google to divest Chrome. Nope, we’ll keep chrome but we’ll tearfully part with Nest (to anyone who will take it).
–Housing starts today expected 1.33m. Rate futures quiet yesterday with red, green and blue SOFR contracts +1.5 to 2.0. 10y yield down 1.6 to 4.408%. Treasury vol slightly lower going into Friday’s expiration. TYZ4 109.5^ settled 0’34.
