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06.03.26 - 21:30
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JPM: Counting Down To The Next Wave Of Shut‑Ins (ZeroHedge)
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JPM: Counting Down To The Next Wave Of Shut‑Ins
On Friday, day seven of the conflict, commercial traffic through the Strait of Hormuz remained virtually nonexistent, with activity largely limited to Iranian vessels.
Unable to move crude through the waterway, JPM reminds its clients that producers have effectively shifted storage onto the sea and other facilities. Since the end of February, roughly 76 million barrels (mb) of crude have accumulated—about 46 mb on tankers, 22 mb at refiners, and 8 mb in commercial storage, or about 4.5 days of regional crude exports; most of the inventory build appears to be concentrated in Saudi Arabia.
And yet, despite disruptions around the strait, alternative export routes remain underutilized, with both Saudi Arabia and the UAE operating their bypass pipelines below available spare capacity: according to JPMorgan, roughly 1.6 mbd of spare export capacity is currently going unused.
Saudi Arabia has leaned heavily on the East–West pipeline (discussed ...
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06.03.26 - 16:39
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Jobs Shock: US Lost 92K Payrolls In February, Far Below Lowest Estimate, As Unemployment Rate Rises (ZeroHedge)
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Jobs Shock: US Lost 92K Payrolls In February, Far Below Lowest Estimate, As Unemployment Rate Rises
In our nonfarm payrolls preview, we quoted JPMorgan's Market Intel desk which said that "for this print, the stronger the better", which by implication means that a poor number would be bad. By that logic, the actual number couldn't be any worse, because moments ago the BLS reported that in February, the US lost 92,000 jobs, a huge drop from the downward revised (of course) 126K in January, and the second worst print since 2020 (only October's shock -140K was worse), and this time, the massive drop can't be dismissed as a one-time drop in government payrolls. The number of private payrolls dropped by 86K, also a huge miss to estimates of a 60K increase.
The February payrolls print was a six-sigma miss to the 55K median estimate, and came in 83K below the lowest estimate!
The change in total nonfarm payroll employment for December was revised down by 65,000, from +48,000 to -17,00...
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06.03.26 - 13:42
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Altersvorsorgebarometer von J.P. Morgan: Frauen schreiben die Rente ab – doch der Plan B schwächelt (Das Investment)
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Mehr als die Hälfte der Frauen rechnet nicht mehr mit der gesetzlichen Rente – und sorgt deshalb privat vor. Doch das Ersparte fließt oft am Kapitalmarkt vorbei.Knapp die Hälfte der deutschen Frauen parkt ihre Ersparnisse auf dem Sparbuch oder Tagesgeldkonto. Damit wählen sie ausgerechnet die Anlageform, die langfristig am wenigsten Ertrag bringt. Das ist eines der zentralen Ergebnisse des Altersvorsorgebarometers von J.P. Morgan Asset Management, für das je 500 Frauen und Männer in Deutschland befragt wurden. Das Paradoxe daran: Gefragt, welcher Anlageform sie die höchsten langfristigen Erträge zutrauen, nennen Frauen an erster Stelle Fonds und ETFs (21 Prozent) sowie Immobilien (20 Prozent) – Aktien kommen dagegen nur auf 9 Prozent. Und doch legen......
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06.03.26 - 00:06
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Private Credit Concerns Grow as Execs See Tough Times Ahead (Bloomberg)
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Concerns have been bubbling up over the $1.8 trillion private credit market in recent weeks, with investors spooked in part by the risk of artificial intelligence on some borrowers and worries about valuations. Last month, a Blue Owl Capital Inc. fund opted to halt quarterly redemptions and started selling assets to return money to investors. This week, Blackstone Inc.'s flagship private credit fund allowed investors to redeem a record 7.9% of shares. JPMorgan Chase & Co. CEO Jamie Dimon has spoken of failed corporate borrowers as “cockroaches,” suggesting there could be more. Bloomberg News Chief Correspondent for Private Capital Davide Scigliuzzo joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)...
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05.03.26 - 20:15
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White House Crypto Advisor Counters Jamie Dimon′s Stablecoin Yield Logic (ZeroHedge)
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White House Crypto Advisor Counters Jamie Dimon's Stablecoin Yield Logic
Authored by Danny Park via The Block,
Patrick Witt, the executive director of the President's Council of Advisors for Digital Assets, made a statement in response to JPMorgan CEO Jamie Dimon's recent comment on stablecoin yields.
Earlier this week, Dimon said in an interview with CNBC that platforms that pay yield on stablecoins should be regulated like banks, arguing that "holding balances and paying interest" constitutes a banking institution.
Dimon highlighted the need for a level playing field, suggesting that banks face stringent requirements, including FDIC insurance, anti-money laundering rules, and capital standards, and that stablecoin issuers offering similar interest-like rewards should face a similar level of oversight.
In response, Witt wrote on X that Dimon's view misrepresents the issue, claiming that the CEO's argument is deliberately inaccurate.
"The deceit here is that it is not the...
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05.03.26 - 14:48
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Germany′s KfW Said to Tap JPMorgan for Potential KNDS Stake Deal (Bloomberg)
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State-owned lender KfW is working with JPMorgan Chase & Co. on the potential purchase of a stake in KNDS NV, people familiar with the matter said, in a sign that Berlin is moving ahead with plans to secure influence in the Franco-German tankmaker that's looking to go public this summer....
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