Judgment Day for Evergrande

Sarah Connor (Terminator 2): “The Survivors of the nuclear holocaust called the war Judgement Day. They lived only to face a new nightmare: the way against the machines.” ZeroHedge: https://www.zerohedge.com/markets/evegrande-default-inevitable-sp-warns-chinese-developer-misses-dollar-bond-payments Evergrande Default Is “Inevitable” – S&P Warns As Chinese Developer Misses Dollar Bond Payments Having sold its Gulfstream Jets, dumped assets (at fire-sale prices), and seenContinue reading “Judgment Day for Evergrande”

“Six-one going down, Six-one going down. Hold on!”

https://www.zerohedge.com/markets/sp-500-futures-had-bad-week-worse-lies-ahead S&P 500 Futures Had a Bad Week, Worse Lies Ahead By Mark Cranfield, Bloomberg Markets Live commentator and analyst S&P 500 futures have a distinctly bearish tone after a week of whiplash trading, which began with the post-Thanksgiving Day meltdown. Though it hasn’t been a one-way street lower, intraday bounces for the contract have been fadingContinue reading ““Six-one going down, Six-one going down. Hold on!””

ERCOT Margin Call

ERCOT is a “just-in-time” energy market without a capacity market and missing the ability to “call” adjacent systems or ready-to-go capacity to cover supply shortages. And so, – surprise, surprise – market clearing prices can get rather spikey when confronted by high demand and limited capacity. As reported by Zero Hedge: https://www.zerohedge.com/commodities/texas-grid-operator-warns-defaults-credit-crisis-develops The Texas energyContinue reading “ERCOT Margin Call”