Monday 4, April 2022

Wrap

Elon Musk took a 9.2% stake in Twitter, sending its shares to the stratosphere. This knocked all the mega cap names higher, which resulted in the Nasdaq rising 2%. The broader index, the SPX, rose only 0.8%.

The announcement that Special Petroleum Reserve was being raided, to help the Democrats win votes in the coming mid-term elections failed to stop oil rising. WTI crude (near month) was up 4.43%. Nearly all industrial and food commodities were dragged up by oil.

The Japanese yen is looking very weak, and the dollar strong. $DXY reached 99 today.

Bonds were unimpressed. The 10Y yield is a fraction below 2.4%, as a redemption yield.

Twitter

I think this is a reference to Hunter Biden’s laptop. I don’t think you have to be a conspiracy theorist to think that the CIA has caused millions of unnecessary deaths over the last century. I don’t have proof, and the alternative might have been worse, but a lot of important decisions have been made with minimal democratic oversight.

PANIC IN D.C. pic.twitter.com/qbBN1urX9v

— 🇺🇸WikiLeaks US🇺🇸 (@WikiLeaksUS) April 2, 2022