SoftBank’s Deal To Sell Arm To Nvidia In “Biggest Semiconductor Deal Ever” Killed By Regulators

SoftBank’s Deal To Sell Arm To Nvidia In “Biggest Semiconductor Deal Ever” Killed By Regulators
Here’s some more bad news for SoftBank: it’s planned deal to sell its Arm subsidiary to Nvidia – once billed as “the biggest semiconductor deal ever” – is falling apart as the two companies have failed to win approval from global regulators.

While much has changed since the deal was struck in September 2020 (for one, a global supply crunch has restricted access to semiconductors, forcing governments to gather their ‘strategic assets’ closely like a squirrel with its nuts), one important fact hasn’t: Following the

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From Correction To Carnage: The Fed Is Walking A Tightrope

From Correction To Carnage: The Fed Is Walking A Tightrope
Authored by Sven Henrich via NorthmanTrader.com,

On January 2 I stated:

“the party is rapidly coming to an end and the Fed will want to curb inflation without causing a recession which will be a real task. How to accomplish it?

Easy, let markets drop, but not so much that it causes a systemic event but enough that year over year inflation numbers drop, declare victory and then flip flop policy again to prevent any major damage to markets by the time mid terms are on everybody’s mind.”

On January

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After A Record $1.2 Trillion In Monday Cash Volume, What’s Next For The Market

After A Record $1.2 Trillion In Monday Cash Volume, What’s Next For The Market
In perhaps the best post-mortem of yesterday’s insanity, Morgan Stanley Quantitative And Derivatives Trading Desk (QDS) writes that yesterday intraday volatility was absolutely extraordinary with record cash volume of $1.16tr.

The good news according to Morgan Stanley is that a tame close-to-close return has kept systematic supply at bay, and the rebound in growth stocks helped stem the P/L drawdowns for both HFs and retail traders alike. The bad news according to the QDS trading gurus is that the afternoon rally was likely driven by short

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‘It’s Him Or Me’: Neil Young Throws Tantrum Over Joe Rogan, Demands Spotify Remove His Songs

‘It’s Him Or Me’: Neil Young Throws Tantrum Over Joe Rogan, Demands Spotify Remove His Songs
Canadian-American 70s performer Neil Percival Young has taken a stand against free speech – demanding Spotify pull his entire music catalog from their platform unless they silence podcaster Joe Rogan for spreading “fake information” about vaccines.

In an email to Warner Records, Young said Spotify “has a responsibility to mitigate the spread of misinformation on its platform,” adding “I want you to let Spotify know immediately TODAY that I want all my music off their platform.”

They can have Rogan or Young. Not

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“Wake Up… Welcome To Reality In 2022”

“Wake Up… Welcome To Reality In 2022”
Authored by Bill Blain via MorningPorridge.com,

“Fair fa’ yer honest sonsie face, great chieftain o’ the puddin race .”

After yesterday’s dramatic market roller-coaster, traders are wondering if it’s a buy-the-dip moment. They probably will. But the narrative has reversed. The improbable tech stocks into substantial correction territory have a considerable way still to fall if history is any guide.

 

Yesterday, was an extraordinary day…. which we will all-to-soon forget.

 

As European markets closed last night it looked like markets had surrendered, down some 5%. More than a few chums were wondering if

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Stellar 5Y Auction Sees Surge In Foreign Demand, Record Low Dealer Takedown

Stellar 5Y Auction Sees Surge In Foreign Demand, Record Low Dealer Takedown
Another day, and another stellar Treasury auction.

After yesterday’s blockbuster 2Y auction, moments ago the Treasury sold $55 billion in 5Y paper in what can again only be described as a stellar sale.

The high yield of 1.533% was well above last month’s 1.263% and the highest since Dec 2019, but it was also 1.4bps below the When Issued 1.547%, which followed two disappointing tailing auctions.

The Bid to Cover confirmed the buyside demand for today’s paper, coming at 2.50, well above last month’s 2.41 and the six-auction

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FAA Warns Boeing 747S,777S Prone To 5G Interference

FAA Warns Boeing 747S,777S Prone To 5G Interference
The U.S. Federal Aviation Administration (FAA) updated information Tuesday, indicating about 90% of the U.S. fleet is approved for flights as the rollout of 5G networks begins. 

FAA announced large, long-range wide-body airliners, including Boeing 747S and Boeing 777S, are subjected to 5G interference. The agency has issued safety directives for both planes. 

The rollout of 5G has been a big mess in American skies. AT&T and

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Joe Biden’s Gasoline Problem Is Back

Joe Biden’s Gasoline Problem Is Back
By Bloomberg Markets Live commentator Jake Lloyd-Smith

Costly crude oil means runaway gasoline. With Brent now threatening to hit $90/bbl, pressure on the vital motor fuel remains to the upside. In this environment, look for governments trying to protect hard-pressed consumers — aka voters — from pain at the pump.

The latest salvo came in Asia this morning. Japan said it will give oil refiners subsidies that are designed to help processors maintain margins without passing on the rising costs to customers. The strategy also applies to diesel and kerosene oil, and may

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Australian Tennis Officials Flip-Flop On Anti-China Protests

Australian Tennis Officials Flip-Flop On Anti-China Protests
Authored by Steve Watson via Summit News,

Forty Eight hours after demanding that spectators at the Australian Open remove clothing and hand over signs protesting China’s Communist government, officials have reversed course and said that the garments will be allowed, with a caveat.

As we reported yesterday, the shirts and banner read “Where is Peng Shuai?”, referring to the previous disappearance of the Chinese tennis star who had accused a high ranking CCP official of sexually assaulting her.

After not being seen for weeks, Shuai reappeared looking worse for wear and

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“The Sum Of All Fed Fears” – BofA Warns FOMC Isn’t Doing Enough To Stop Inflation From Torpedoing Markets

“The Sum Of All Fed Fears” – BofA Warns FOMC Isn’t Doing Enough To Stop Inflation From Torpedoing Markets
Bank of America’s view that the Fed is way beyond the curve when it comes to suppressing inflation has led it to a ‘bear case’ outlook for stocks and bonds that’s almost apocalyptic.

Over the weekend, we shared (with premium subs) our thoughts on the latest “Flow Show” from BofA’s Michael Hartnett, one of the gloomiest strategists on Wall Street, who has repeatedly excoriated the Fed for its unwillingness to act more boldly (“they should hike 50 basis

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