Author: admin

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

It’s been obvious to me since he declared that Mike Bloomberg is not a serious candidate for the Democratic nomination. He is everything the Democratic base doesn’t want — white, billionaire, oligarch, Wall St. 0.000001%’er.

Oh, and until just a couple of years ago, he was a Republican. Billionaires like Bloomberg change parties to where ever they see their money will go the farthest for them achieving their goals.

Right now, that is the quickly fracturing Democrats, who are staring at a revolt to Bernie Sanders that doesn’t sit with Wall St. at all.

It’s also obvious that Bloomberg is animated by personal animus towards Donald Trump that I suspect is as much about Mike’s ego as it is his desire to protect Wall St. from having any of its dirty laundry aired during a Trump 2nd term.

Because with the failure to convict Trump in the Senate those that were behind that coup attempt are now uniquely exposed to his retribution. And that trail of tears for all involved leads right back up to Hillary Clinton’s poisoned garden of a 2016 presidential bid.

With the Democratic presidential field a uniquely inept mix of the hopeless and insane Bloomberg using saturation advertising to buy himself wins in delegate-rich red states with weak Democratic parties like North Carolina, Florida and Texas is a good strategy, if he was interested in winning.

But he’s not. He’s running to clear the field for Hillary.

Because the fight over these early states are as much about splitting the delegate count as possible, to strip Bernie Sanders of his chance at the nomination. Hillary is still angry at Bernie for challenging her in 2016.

She still wants another chance to fulfill her life’s ambition and if she can screw over all the men that she feels denied her that then it will be all the sweeter when it happens.

Because, honestly, Bloomberg isn’t interested in being president anymore than I am. He’s 78. He’s not campaigning. What he’s doing is a pantomime of a campaign covering for a very sophisticated form of campaign finance evasion.

And he’s doing it to figure out what is necessary for a ‘centrist’ Democratic candidate to say (and where) to steal electoral college votes from Donald Trump in November.

Bloomberg is spending this money today knowing that a targeted campaign which can figure out how to undermine Trump where he is strong can shift the map enough to sneak out a victory.

So Mike will spend more than $1 billion as an in-kind contribution to the DNC in the form of campaign advertising to get this done.

Because, let’s get serious here for a second. None of the candidates, including Bernie Sanders, has a hope in hell of beating Trump this fall. Any mistakes Trump’s made dwarf the basic message that he believes in the U.S. in a way that is genuine, even that vision of America is flawed.

The wizards at the DNC know this. Impeachment was their last real hope. That’s why it was rushed through and so shoddily done, they didn’t have anything substantive. And all it did was cement Trump’s base to him more thoroughly than it was before.

Their best shot is running a moderate who can out-Trump Trump on the issues and raise a ton of money along the way for 2024 while retaining some control over the party proper.

The intention is to hoover up delegates, confound the map and throw up roadblocks to Bernie. This paves the way for Hillary’s emergence at a brokered convention to hand her the rematch she, Wall St. and the DNC want.

The messaging has already begun. Drudge ‘broke’ the story the other day about Bloomberg being open to Hillary as his running mate. Oh please! It’s the other way around.

And I’ve been running that story since October. Tulsi Gabbard unmasked Hillary’s manipulating events no-to-subtlety.

It’s clear the DNC want Hillary and another beta-male, Pete Buttigieg, as her running mate.

So, less than 48 hours after Drudge ‘breaks’ this story, video of Bloomberg just happens to show up and go viral showing him saying disparaging things about farmers and metalworkers.

To top it off, he wants to save healthcare by letting old people die.

We all know Mike hates poor people. He’s a geezer auditioning for the top job in the U.S. who hates old people. He’s a thorough authoritarian and corporatist whose disdain for the plebiscite is palpable.

Nothing says U.S. Presidential material like the blatant disregard for human suffering. On second thought, maybe Mike is the perfect candidate?

All of this was known before, so why these things now?

These videos and quotes are out there to undermine him, casting him in the role of the out-of-touch oligarch.

This is designed to outrage the Deplorables. It’s designed to put a cap on Mike’s likability. It gives Hillary a wedge to drive in and say, “No, Mike you can be MY running mate!”

Mike Bloomberg: billionaire, entrepreneur, media mogul, three-time Mayor of New York, bond vigilante… beta-cuck.

So thoroughly Hillary.

This way, he can have his turn as the front-runner, rising far enough on his money to earn some delegates and ensure a brokered convention. Then hand them to Hillary as a gracious peace offering.

This is about manufacturing Hillary as the unity candidate of a failing Democratic Party while sidelining Bernie in the process. That’s the game plan folks.

It’s not tough, honestly.

If it wasn’t all so painfully obvious it would almost be clever. But it’s not because these people simply don’t understand why no one likes them.

Because they suck.

Bloomberg, Hillary, Biden, Warren, Buttigieg, Booker, Harris and the rest of the crazies, including Bernie, they all suck. Bernie may be honest that he’s a Commie, but that’s what makes him un-electable, if a little more likable.

And for 2020, the DNC would rather roll the dice with two-time loser Hillary, ensuring a candidate acceptable to Wall St. wins, than put Bernie up as the nominee.

Because no matter what happens the Democrats become the Commie and Crazy-Cat Lady party with Bernie as the nominee. And that creates a clear delineation between them and the Republicans.

But, that’s the worst possible result. Because, the most important thing to Bloomberg, Hillary and those they represent is that the illusion of choice between globalist dirtbags remains in place. This is the true face of Democracy in the U.S.

That’s the key to understanding the game he and Hillary are playing.

And once you see that for what it is there’s no unseeing it.

If Bernie sees it clearly, then he will take his Bros, extend his hand to Gabbard and run an independent campaign to split the Blue Wall and destroy these people for real.

If he doesn’t then he’s the same feckless schmuck I pegged him to be in 2016.

Either way, this is now Hillary’s nomination and Bloomberg is the latest goat on its way to her altar.

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At the end of January, Indian scientists sparked a heated debate within virologist circles when they published a pre-print paper claiming they had discovered insertions in the coronavirus which bore an “uncanny similarity” to fragments such as gp120 and Gag found in the HIV virus, which they then said was “unlikely to be fortuitous in nature” and prompting speculation that the virus was bio-engineered. Following a flood of angry reactions amid rising public concern that coronavirus may have been a genetically-engineered and airborne version of the HIV virus, the scientists eventually withdrew their paper.

However, it now appears there may have been more truth there than scientist peers were willing to acknowledge, because why else would one of the world’s most developed nations start using anti-HIV drugs to treat coronavirus infections?

According to Reuters, “as an increase in the number of cases poses a growing threat to the economy and public health,”  Japan plans to start trials of “HIV medications to treat coronavirus patients”, the government’s top spokesman said on Tuesday.

The government is making “preparations so that clinical trials using HIV medication on the novel coronavirus can start as soon as possible,” Yoshihide Suga told a briefing, but added he could not say how long it might take to approve a drug’s use.

As we reported earlier, a further 88 people tested positive for the virus on the Diamond Princess cruise ship quarantined off the port of Yokohama the Health Ministry said, bringing the total number of infected passengers to 542, or roughly 100 more cases than have been reported everywhere else in the world outside of China!

This is not the first time there has been a shift to seeking a cure using HIV medications: people in China have already appealed to HIV patients and unauthorised importers for medicine. More ominously, in Thailand, doctors said they appeared to have had some success in treating severe cases of the virus with a combination of medications for flu and HIV.

Curiously, HIV drugs have been touted as a potential cure for the coronavirus – which is odd for a virus that according to officials has no relevant homology to the HIV virus – which has now killed almost 1,900 people in mainland China. No therapy has yet proven fully effective against the infection, although HIV treatments have shown some promise in curing one-off cases.

Meanwhile, as China claims to have the epidemic increasingly under control, the spread of the virus has prompted Tokyo to curb the size of public gatherings, while some companies are telling employees to work from home amid concerns of a sharp economic slowdown following the dismal Q4 GDP print which saw the economy collapse at the fastest rate in five years.

Japanese officials have promised to work hard to avoid disruption to the Olympic Games starting in Tokyo in July, but concern about the virus led Mongolia’s Olympics archery team to cancel training in Japan, the Kyodo news agency said.

And speaking of the Diamond Princess, last night we reported that U.S. government evacuation flights on Monday flew home more than 300 Americans who had been on board the Diamond Princess, despite subsequently discovering that at least 13 of them had been infected with the virus.

With more than 3,000 passengers and crew, the ship has been in quarantine since early this month, after a passenger who had left it in Hong Kong was diagnosed with the virus.  Passengers still on the ship, about half of whom are Japanese, have expressed frustration over the quarantine and authorities in Australia, Canada, Italy and South Korea are also planning to evacuate citizens from the cruise liner.

A plane chartered by the Canadian government has left for Japan to evacuate its nationals, TV Asahi said. Canada has said 14 days of quarantine await them on their return. South Korea is also sending a government charter flight on Tuesday to take home four citizens, and a Japanese spouse, who have no symptoms, a South Korean official said.

In a troubling development – considering recent news that the virus incubation period may be as long as 4 weeks or more – Japanese who test negative will begin disembarking as early as Wednesday, Health Minister Katsunobu Kato said.

“Everyone wants to return home as soon as possible, so considering that feeling, we are making preparations,” Kato told reporters. Disembarkation was set for Feb. 19 to 21, Japan’s vice health minister said, according to a copy of a letter circulated on Twitter by a passenger using the handle @daxa–tw. The letter said local health authorities would take passengers’ temperatures before they left the ship.

As for why increasingly more are turning to HIV drugs to treat a drug which according to so many experts has nothing in common to HIV, we are confident we will read pre-prints and peer-reviewed reports on the matter shortly… assuming of course they aren’t “pulled” just as fast as they are submitted.

The Trump administration announced significant new sanctions on Tuesday targeting Rosneft, Russia’s largest oil company, for helping Venezuelan leader Nicolas Maduro circumvent U.S. sanctions. Specifically, the sanction targets Rosneft Trading SA, a unit of Russia’s state-owned oil giant Rosneft, as well as company’s executive Didier Casimiro, over the company’s actions in Venezuela, senior administration official said in call with reporters.

The US accused Rosneft of propping up Venezuela’s oil sector, the admin official said, characterizing the company as the “primary culprit” of a campaign to evade Washington’s pressure campaign on the Maduro regime.

As the US further details, the network of deception sometimes involves transferring oil to new ship before sale, typically to Asia. Occasionally, ships will also change their names, or lie about source of oil. As McClatchy details, “the administration has accused Rosneft of sending tankers to Venezuelan ports without their tracking systems on — a violation of international law and a lifeline from sanctions on Venezuela’s own state-run oil company, PDVSA, that has allowed Maduro to indirectly sell oil to China and India. Officials also said that Rosneft was orchestrating a strategy of transferring Venezuelan oil in international waters for shipment to Asia and West Africa.”

US officials said that sanctions would hit Rosneft unit, as well as Casimiro’s U.S. assets but stand as worldwide prohibition, and warned that the new U.S. sanctions will affect “anyone engaging in activity” with Rosneft Trading S.A.

“This is a reaction to the growing and increasingly central role of Rosneft in the affairs of Venezuela,” one senior administration official said, “with Rosneft now trading over half of the oil now coming out of Venezuela, and actively evading sanctions — engaging in ruses, engaging in deception.”

White House officials acknowledged earlier this month that sanctions on the Russian state-run firm were “on the table.” But President Donald Trump’s decision to proceed marks a significant escalation in his pressure campaign against Maduro and a rare confrontation with Russia’s president, Vladimir Putin.

“It’s essentially a secondary sanction,” said Fernando Cutz, a former Director for South America at the National Security Council during the Trump administration now at the Wilson Center. “That is a huge and consequential action — Rosneft is a huge company.”

Officials said they were confident that Tuesday’s action would not rattle oil markets, despite private concerns within the administration in recent months that such a move might destabilize prices. All of Rosneft’s assets in the United States, or those held by U.S. persons, will be blocked.

Trump is said to have cleared Tuesday’s sanctions directly. “This decision was cleared by the president himself,” a senior administration official said.

Secretary of State Mike Pompeo discussed the sanctions with Russian Foreign Minister Lavrov on Saturday, another official said, and John Sullivan, the U.S. ambassador to Russia, met with the Russian foreign minister to discuss the coming sanctions on Rosneft on Monday in Moscow.

In recent months, much of Rosneft’s cooperation with PDVSA has been an open secret: Venezuelan and Russian media reported in October that Rosneft was even in talks for a full takeover of PDVSA in exchange for debt relief.

Trump vowed to increase pressure on the Maduro regime in his State of the Union address, where he hosted Juan Guaidó, the president of Venezuela’s National Assembly who is recognized by the United States and 59 other countries as the nation’s interim president.

During that visit, a senior administration official told reporters that the White House was “concerned about the behavior of Rosneft in Venezuela.

The officials did not say whether Trump had spoken directly with Putin regarding the decision.

Gold futures have just surged back above $1600 as investors worldwide charge into safe-havens this morning (bonds are also bid, as is the USDollar) as it becomes clearer and clearer that China is lying and no one really knows the situation of the Covid-19 pandemic.

Gold is back near Iran-Missile-Strike highs, breaking back above $1600… if we close here this will be the highest close for gold since April 2013…

Notably, gold is rallying along with the USDollar (against fiat currencies)…

The 30Y Yield dropped back below 2.00%…

And even stocks are down today… a little…

You have to laugh really!

Authored by Richard Breslow via Bloomberg,

This has been what looks like an awfully cheap lesson. And few have any interest in learning from it. Scan down the day’s headlines and there is no shortage of items about the ill-effects on businesses from disruptions caused by the coronavirus outbreak. Turn on the TV or radio and it has been more of the same. Naturally, the next thing to do was fire up the launchpad and see what was the damage.

The good news has been, so far, that Nasdaq 100 futures are down less than 1%. That may also be the bad news. We last saw these prices last Thursday. For Apple, one would have to go back further — to the beginning of last week. If this resiliency was really based on an educated assessment of the long-term prognosis for the disease, or even the extent of business interruptions, it would be one thing. But as we are learning, and likely to keep learning, that really can’t be done with any certainty.

What traders, with good reason, choose to believe is that the authorities, in China and all over the world for that matter, will respond with yet more liquidity. It is taken as a given. They have been assured that the central banks are watching things carefully. So you don’t have to.

On the one hand that is a comforting message for investors. On the other hand, it’s a bad message to be sending.

Not every problem can be solved by cutting rates or with additional quantitative easing. It’s a disease, not a housing bubble.

And even if, over time, more liquidity might soothe a slowing economy, it isn’t likely to work presto chango. And markets don’t have patience. Convincing people that nothing can go wrong is begging for a comeuppance. What central banks need to avoid is employing the wrong cure and being left with traders panicking because, “it isn’t working.”

We don’t know if, when or what the next shoe to drop might be. And there isn’t likely to be a one-size fits all solution as we convinced ourselves was the case during the financial crisis. Trickle-down economics won’t get people out of quarantine. Investors are sanguine. I’m not sure very many others are. We’ve been here before. And actions have consequences.

Meanwhile, another data miss from Germany. This time the ZEW survey of investors. Results such as these have become all too worryingly common. Analysts seem to be reticent to mark down their forecasts adequately. That may have something to do with the notion that, to the extent it is China and supply-chain related, this too shall pass. And when it does, Germany will be a prime beneficiary. There is a surprisingly sure expectation that it will happen on some sort of schedule. The weakness of their manufacturing sector has been prolonged. And has lasted a lot longer than expected. What ails it won’t be cured by the ECB experimenting with where the reversal rate will kick in. If it hasn’t already. Stay tuned to the Markit PMIs coming out later this week. Core Europe could do with a win.

This week is chockablock with central banks speakers. It’s time for the annual Chicago Booth Monetary Policy Forum. The main paper being presented is “Monetary Policy for the Next Recession.” It seems a lot less theoretical than we thought not very long ago.

The FBI raided the home of a CEO of a bankrupt hospital chain last month along with one of its Pennsylvania hospitals central to influence-peddling accusations against Joe Biden’s brother, James, according to RealClearInvestigations.

The CEO, Grant White, was accused in a Kentucky bankruptcy court filing by the trustee of having “grossly mismanaged” Florida-based Americore holdings, which acquires and manages rural hospitals. According to the filing, White “has not operated the hospitals in a manner that is consistent with public safety,” and “improperly siphoned money from the Debtors for his personal benefit.”

In December, the firm declared bankruptcy. On January 29, the FBI raided White’s home, and one of Americore’s hospitals – Ellwood City Medical Center, the next day. One week later, the Kentucky court granted a motion to remove White as CEO.

The Biden connection

Last Summer, White and James Biden were accused of fraud in a lawsuit, along with Biden’s partner, hedge fund manager Michael Lewitt.

The lawsuit, filed by Tennessee businessman Michael Frey and his partner Dr. Mohannad Azzam, owners of Diverse Medical Management, also named Amer Rustom, another investor in Americore along with Biden and Lewitt.

The lawsuit alleges that James Biden had a prominent role in the company. One exhibit filed in the lawsuit is a photograph of an Americore business card that Biden reportedly handed out listing him as a “principal” in the company.

Frey alleges that when Diverse Medical Management and Americore were in talks to merge, Jim Biden promised to exploit his brother’s political influence as vice president to attract international investors and make the venture successful. –RCI

“Jim [Biden] told me. Don’t worry every time someone threatens to sue you you’re with us now nobody is gonna touch you,” Lewitt allegedly bragged over a text message to Frey, who says he was worried about legal liability to his firm over an acquisition.

“It was Frey’s understanding that Lewitt was implying that DMM [Diverse Medical Management] was ‘protected’ because of Jim Biden’s connections.”

The lawsuit also alleges that after failing to deliver on several promises made to Frey and Azzam, Biden took control of their dealings with Americore. “Biden instructed that Plaintiffs should no longer speak with Americore and White, but instead should deal exclusively with the Investor Defendants and their respective agents going forward, who would ensure that Plaintiffs’ model would find its way into hospitals and thrive,” the lawsuit says. –RCI

Biden and the other defendants are accused of pushing Frey and Azzam to take out loans for the purchase of failing rural hospitals they wanted to revive – based on assurances that they would be paid back when Biden helped secure investments from one of Turkey’s largest conglomerates, Dogan Holding.

According to the lawsuit, Biden inadvertently texted Frey and revealed his plans to take over Diverse Medical Management and cut out Frey and Azzam.

“We can wrap [Americore] into Frey’s entity further diluting them both in the process? After we take control of both.  Just a thought. We must have complete control, too many moving pieces. Jim,” the text reportedly read.

Prior to filing their lawsuit, Diverse Medical Management says it was unable to make payroll.

A Biden spokesman disputed the claims last August, saying “It is nothing more than a cynical attempt to manipulate the press by taking advantage of Jim Biden’s public profile as the brother of a presidential candidate.”

The raids were not the first time the FBI has investigated matters related to Americore. It got involved last August when, soon after the lawsuit was filed, Frey received an envelope at his home containing a thinly veiled threat. “Inside the envelope was what appeared to be blood-stained currency from a Middle Eastern country commonly known as a haven for terror groups and a ‘torture ticket’ — a voucher for the infliction of torture,” according to Knox News, which reviewed the contents of the envelope. –RCI

James was a frequent guest at the White House when Joe was Vice President and scored invites to important state functions which often “dovetailed with his overseas business dealings,” such as the case of construction management firm subsidiary HillStone International, according to journalist Peter Schweizer.

On November 4, 2010, according to White House visitors’ logs, Justice visited the White House and met with Biden adviser Michele Smith in the Office of the Vice President.

Less than three weeks later, HillStone announced that James Biden would be joining the firm as an executive vice president. James appeared to have little or no background in housing construction, but that did not seem to matter to HillStone. –Peter Schweizer, via NY Post

According to Fox Business‘s Charlie Gasparino in 2012, HillStone’s Iraq project was expected to “generate $1.5 billion in revenues over the next three years,” more than tripling their revenue.

We can only imagine how disappointed James and the rest of the Biden brothers are at Joe’s sagging poll numbers.

Authored by Sven Henrich via NorthmanTrader.com,

We’re all frogs getting our perception of reality boiled in the pot of price perversion central banks have unleashed on the world.

A tragicomedy of epic proportions continues to unfold in front of our own eyes. On Friday global markets again closed at record highs and this week everybody is already crying again for more stimulus and central bankers across the world are too eager to oblige.

Having jammed markets already to a record 158% market cap to GDP by Friday on non stop interventions since the December 2018 lows, all in the name of preventing the next recession, central bankers self admittedly have precious little new ammunition left should a global recession unfold.

It looked like the can had successfully been kicked down the road just looking at equity prices, but the bond market has been screaming caution all along.

Along comes the coronavirus and everybody ignores it as well. Let’s go fully long and chase stocks into record highs while the 2nd largest economy with 330% debt to GDP goes into a standstill. What could possibly go wrong?

Central banks always have our backs right?

What?
You really thought the 2nd largest economy on the planet shutting down wouldn’t impact growth, or you thought the Fed would make it not matter or both?

I really would like to know on what investment premise people are chasing markets at 157% market cap to GDP.

— Sven Henrich (@NorthmanTrader) February 17, 2020

And so last night came the obvious news: $AAPL issued a revenue warning and surely won’t be the only company to do so. The great irony of course would be if the greatest market cap expansion in any stock’s history that was sparked by a revenue warning in January 2019 would end with another revenue warning in February 2020 right at the time when the stock is showing some of the most technically extended readings in its history.

Price movements have become so distorted as a result of constant central bank intervention that everybody gets the joke:

BREAKING: Fed to launch not QE purchases of iPhones until $AAPL’s revenue numbers are met.

— Sven Henrich (@NorthmanTrader) February 17, 2020

As I said yesterday:

A market that never discounts any reality by force of constant intervention is by definition an artificial bubble.

Central banks have made a mockery of price discovery and the free flow of capital.

All markets are now are a central bank policy chase operation.

— Sven Henrich (@NorthmanTrader) February 17, 2020

Now I don’t know if the $AAPL warning will trigger the larger correction that is suggested by the larger technical picture in indices such as $NDX or not, but it may well lead to it.

It may be worth pointing out that this market continues to be held up by 5 stocks and one of these 5 stocks just got dinged:

Yikes. Exclude the big 5 (Microsoft, Apple, Alphabet, Amazon and Google) and U.S. earnings were down 7.5% in the 4th quarter. H/t @AndrewLapthorne of SocGen

— John Authers (@johnauthers) February 17, 2020

The larger market of stocks is in a much larger earnings recession already and 5 stocks have been masking it all.

5 stocks are the safe haven in a market that’s been forced to chase yield and growth where it can find it. The stubborn approach to keep rates artificially suppressed has resulted in a perversion of price discovery.

And so global markets are at all time highs with Japan in a recession, Germany at 0% GDP growth and the second largest economy in the world with 330% debt to GDP at a virtual standstill. In the meantime the ECB is financing’s France’s richest man’s latest M&A acquisition:

France’s Richest Man Gets a Free Lunch From the ECB

The real continued unspoken tragedy of all this is that central banks with their policies keep exacerbating wealth inequality by their continued propping of assets disproportionally owned by the top 1%. This leads to political divisions, tensions and a sense of economic unfairness that some of the very richest fully recognize. Low taxes for the top 1% and a permeant central bank put on top of it. Bill Gates recognizes the unfairness perception:

It’s not so much that the economy is unfair it’s that central bankers keep employing monetary policies that disproportionately benefit asset class holders such as Bill Gates.
Innovators should get wealthy, but it’s not the role of central bankers to make that wealth obscene. https://t.co/vxN6oWUgcb

— Sven Henrich (@NorthmanTrader) February 16, 2020

Keep believing that nothing matters because of central banks if you so choose. No, a tragicomedy is unfolding before our eyes and the ultimate ending of the perversion may well be written such as this:

Future history book: Central bankers in their arrogance believed they could control the business cycle forever, in process created the largest asset bubble ever.
When the bubble burst & the consequences laid bare, the power of central banks was heavily scrutinized & curtailed.

— Sven Henrich (@NorthmanTrader) February 17, 2020

I can’t say if Coronavirus is the trigger that sparks the global recession that central bankers in 2019 and 2020 sought to avoid. All I can say at this moment is that the impact of the virus continues to be underestimated by market participants and $AAPL’s revenue last night serves as a warning piece of evidence.

What I can say is that central bankers just threw their ammunition in the fire last year and the reflation evidence remains very much in doubt especially as yields continue to drop:

The real tragicomedy would be if central bankers went all in to prevent a global recession in 2019 and, as a result, got everyone to chase stocks into the highest valuations ever on many measures and now a global recession were to unfold anyways leaving long chasers trapped at extreme valuations and central banks with precious little ammunition left.

An already overstimulated world may find that any renewed stimulus will lack in efficacy. And perhaps it already does. After all why is the 10 year at 1.5%?

Who’s ready to buy the “dip”?

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