April 2. There’s a blood moon on the rise
Hope you got your things together.
Hope you are quite prepared to die.
Looks like we’re in for nasty weather.
One eye is taken for an eye.
–CCR
Ten year yield dropped another 6.5 bps to 186.7, as stocks faltered and ISM had its fifth consecutive lower reading at 51.5. ISM hasn’t been this low since May of 2013. By the way, Brazil mfg PMI lowest since late 2011, and Turkey lowest in six years. In dollars, near calendar spreads once again compressed, with the peak one-yr spread, Dec’15/Dec’16 down 3 to a new low of 72.
SIGNS OF THE APOCALYPSE:
-Blood Moon this Saturday as the earth blocks the sun’s direct rays from reaching the moon, resulting in a red haze.
-California’s drought has become so dire that the governor ordered mandatory water cuts…however…
–The median value of a home in San Fransisco is just shy of $1 million… Redfin says “the median selling price in February in San Francisco was up 16.2 percent from a year ago, to $979,750.”
–GoDaddy’s market value surged to $4 billion.. “had 12.7 million customers…at the end of 2014, generating $1.4 billion in revenue but net losses of $143 million.”
–Picasso’s Les femmes d’Alger is expected to smash previous records and auction for $140 million on May 11. (Suspiciously the exact same amount of money GoDaddy lost…) You could buy a LOT of Iron Ore with that money…in fact, twice as much as you could have bought eight months ago, as the price has been cut in half.
–March was a record for corporate debt issuance at $143 billion. I don’t know how much of that goes to retire old debt, but I DO know that corporate debt is at a record. During the heyday of mortgage equity withdrawals (which I equate to the same dynamic) in the middle of the last decade, the monthly MEW was something like $60b. Financial Instability? Only when the music stops.
Don’t come around tonight,
Well it’s bound to take your life,
There’s a bad moon on the rise
–Alex Manzara
LINKS FROM ABOVE
http://sanfrancisco.cbslocal.com/2015/04/01/blood-moon-with-total-lunar-eclipse-biblical-message-rising-over-u-s-during-easter-weekend/
http://www.bizjournals.com/sanfrancisco/blog/2015/03/san-francisco-1m-median-home-price-oakland.html
http://www.usatoday.com/story/money/2015/04/01/go-daddy-goes-in-ipo-debut/70764122/
http://www.abc.net.au/news/2015-04-02/picasso-painting-les-femmes-dalger-sale/6366556
http://www.metrolyrics.com/bad-moon-rising-lyrics-creedence-clearwater-revival.html
