iftttwall

The Department of Defense (DoD) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Program, in conjunction with the United States Army, has recognized a critical technology gap in the modern battlefield that could temporarily leave soldiers vulnerable to direct enemy fire.

The DOD SBIR/STTR Program’s new objective has been to elicit innovative solutions from academic institutions and small businesses to develop the next generation of combat uniforms for Army personnel that can reduce their signature and decrease detection from ground surveillance radar (GSR) threats in the modern battlefield.

Battlefield and ground surveillance radar (BSR/GSR) has become an essential component of electronic warfare and detection capabilities on the 21st-century battlefield, which makes it extremely challenging for soldiers to run for cover.

It seems as the DoD is falling behind on developing radar-invisible uniforms. In 2016, Russia announced that its scientists had developed a new fabric that would make its troops harder to detect via electronic warfare systems.

Mine-protected Boots, Stealth Fabric in Russian Future Soldier Gear. (Source: World Defense Forum) 

That is why the DoD is now frantically searching for radar absorbent textile for its combat uniforms, as it has recognized that its arch-nemesis, Russia, is leading the way in pioneering stealth fabric.

“Radar absorbing and shielding technology has attracted a growing interest due to the recent advances in enemy electronic warfare and detection capabilities, leaving U.S. forces, especially infantry forces, vulnerable to detection across the electromagnetic spectrum,” according to a new SBIR and STTR solicitation to academia and private industry. “Advanced Battlefield and Ground surveillance radar (BSR/GSR) are readily available in military markets that are highly effective, portable, and automated for large area monitoring.”

Here is a basic example of the battlefield and ground surveillance radar (BSR/GSR) used for detecting tanks, armored fighting vehicles, and personnel. The device can detect troops or combat vehicles from miles away. This is an inexpensive and readily available device for militaries around the world.

While radar absorbing material (RAM) composites exist for a wide variety of air and land-based military vehicles, the DoD points out, “there are currently no effective and lightweight wearable options to mitigate GSR detection of a dismounted Soldier.” The emphasis of this call is to focus on soldier signature management “by altering/functionalizing clothing with radar absorbing materials” to thwart detection from BSR/GSR systems.

The Army’s specifications on the stealth fabric, include absorption of radar waves in the Ku- and X-frequency bands at distance up to 12 kilometers and “the fabric must be flexible, durable and breathable” to operate from -30 degrees to 125 degrees Fahrenheit.

“Prototypes must demonstrate lab and field based capabilities within the X and Ku frequency bands at distances up to 12 km. Prototypes will range from a standardized 1 m2 test sample to representative operational clothing and/or operational equipment (e.g. body armor carrier, rucksack, etc.). The performance of the test samples and prototypes must be evaluated in laboratory and field settings and assessed in terms of radar cross section reduction, flexibility, durability, breathability and air permeability. The prototype materials must be tested and clearly demonstrate consistent functional properties under simulated operational use to include environmental factors such as a wide range of temperatures (-30 – 125ºF) and environmental factors (e.g. high humidity, rain, etc.) The final deliverable must also include a commercialization assessment and the viability of mass producing the developed technology.”  

It is highly unusual for the DoD to publicize such a significant vulnerability gap in America’s military, but it seems as the Army is falling behind the curve on stealth combat uniforms. Meanwhile, as we mentioned above, Russia claimed to have developed stealth fabric some two years ago. While President Trump awarded the Pentagon the largest budget in history, let’s hope stealth combat uniforms come soon, otherwise, America’s military edge could be obsolete on the modern battlefield.

via RSS https://ift.tt/2GnUHUj Tyler Durden

Via GoldTelegraph.com,

It looks to be another boom year for gold. Investors are anticipating a continued demand for the precious metal for the fifth year in a row, driven by geopolitical uncertainties and less-than-strong predictions for the U.S. economy and the U.S. dollar in 2019.

In times of economic turmoil, gold has always served as a hedge against the decreased value of stocks or currency. Faced with unusual market volatility, people around the globe are turning to the yellow metal as a haven and safe investment diversifier. The price of gold rose by 14 percent in 2017 and is likely to go higher.

While the U.S. dollar is expected to lose some value in 2018, the Euro and other currencies are showing a modest gain.

India has historically turned to gold not only for investment purposes but for jewelry. Its traditional wedding season is approaching, and gifts of gold jewelry are the norm, even among India’s more impoverished population.

During the first quarter of 2018, India saw a 12 percent decrease in demand for gold jewelry from the same period in 2017. Total gold purchased dropped from 99.2 tons to 87.7 tons. However, India’s demand for gold spiraled to a record high in the fourth quarter of 2017, up to 189.6 tons, so the drop was not unexpected. The rest of 2018 looks positive for Indian gold demand. A good monsoon season is predicted, which means healthy revenues for the farmers that make up one-third of India’s gold buyers for the upcoming wedding season. During drought years, such as 2014 and 2015, India’s gold consumption historically experiences a decline in gold demand, so this year’s weather forecast is new news.

China, the world’s major importer of gold, has been actively accumulating gold and is expected to continue doing so in the near future.

During the first quarter of 2018, demand for gold jewelry totaled 187.7 tons, up 7 percent.

Chinese jewelry sellers are working to attract a prosperous, more sophisticated, younger generation of customers by expanding and diversifying its selection. Following a slow retail year for jewelry in 2017, China is looking forward to strong sales in 2018. Withdrawals at the Shanghai Gold Exchange have been above average at 170 tons monthly. April’s demand for gold was up 28 percent from 2017.

With political tensions between the U.S. and China escalating, Chinese investors are turning to gold bullion as an economic hedge. First quarter 2018 saw the demand for gold at 78 tons.

In addition to jewelry, the Chinese government has been actively increasing its gold supplies for the past decade, along with its ally, Russia. This move is believed to precede China’s plan for a gold-backed yuan, which could significantly devalue the U.S. dollar and could replace the dollar as the global reserve currency of choice. If this happens, the price of gold is expected to rise to new, unprecedented heights, along with a political power shift from the West to the East.

Gold has always been in demand for its intrinsic value. If current trends continue and the demand for gold accelerates at its current rate, the price of gold will skyrocket.

via RSS https://ift.tt/2Ir3JG8 Tyler Durden

The culmination of months of negotiations between the anti-immigrant Northern League and the anti-establishment Five Star Movement has arrived Wednesday afternoon in the form of a forty page comprehensive policy agreement reached between the two parties, according to Ansa, the Italian newswire.

Northern League Deputy Claudio Borghi confirmed in a tweet that negotiations have produced an agreement that must now be approved by party leaders Matteo Salvini, who represents the Northern League, and Luigi di Maio, who represents the Five Star Movement.

 

Finito il lavoro. Sono PIATTO ma è stata un’esperienza fantastica. Adesso il plico va ai capi per le opportune decisioni.

— Claudio Borghi A. (@borghi_claudio) May 16, 2018

 

While the document hasn’t been publicly released since six or so of its provisions are still awaiting approval, while the rest have been formally closed, Ansa reported. Importantly, the agreement omitted a provision setting out a plan for Italy possibly exiting the euro bloc.

Instead of the euro provision, the document only advocated revising certain provisions in some of the European Union’s founding treaties, like the Maastricht Treaty.

Di Maio and Salvini are planning a meeting tonight to take stock of the last remaining disagreements in the program contract.

Italian bond yields jumped on the news as investors worried about the impact of the euroskeptic government’s leadership – even though party leaders denied earlier reports that Five Star would petition the European Central Bank to forgive 250 billion euros of Italian debt.

The euro also climbed on the news.

 

via RSS https://ift.tt/2IrkI70 Tyler Durden

Authored by Ana Alexandre  via CoinTelegraph.com,

Trading and clearing platform LedgerX has launched a new Bitcoin (BTC) savings product that is licensed by the US Commodities Future Trading Commission (CFTC), Forbes reported May 15.

image courtesy of CoinTelegraph

The savings product introduced by LedgerX is certified by a CFTC derivatives clearing organization (DCO) license and a swap execution facility (SEF) license. Juthica Chou, Chief Operating Officer at LedgerX said:

“Everything we do requires both the licenses. And a lot of that is intentional, because by making it a package deal we can offer a number of services to our customers in a really clear, vertically integrated way.”

The licenses permit users to earn a yield on their Bitcoin assets. Rather than just “hodling” and hoping that Bitcoin appreciates, investors can earn a fiat-based yield on their BTC by employing what is referred to as a call overwrite technique, wherein an investor deposits BTC into LedgerX, then sells a call option at a slightly longer date, with a higher strike call option.

The project is designed to simplify BTC option trading to a basic point-and-click format, so “less sophisticated” bull traders can potentially get a premium price on their holdings. The product’s interface allows users to choose the implied rate they’re anticipating to earn and the number of BTC they wish to earn the yield on. Chou said:

“This interface will definitely be skewed to the long Bitcoin holders, who will likely only deposit bitcoin and who will want to earn interest off of that Bitcoin.”

According to Forbes, during the past three months, 70 percent of the trade volume of LedgerX has come from options, with an average trade size of $60,000. The options contracts will reportedly be available for a three-month and a six-month duration, while LedgerX charges a transaction fee for each service.

Yesterday, the Chicago Mercantile Exchange launched an Ethereum reference rate and real time index to the US dollar. The rates are offered in partnership with Crypto-Facilities, a UK-based digital asset exchange, that debuted the “first regulated” Ethereum futures last week.

via RSS https://ift.tt/2L7ignW Tyler Durden

In its latest Fund Manager Survey, Bank of America asked what may be the most important questions for investors today: “What level of US 10y Treasury yields would cause you to rotate from equities into bonds?“

That level, which Bank of America’s Michael Hartnett has repeatedly dubbed the “magic number“, rose from 3.5% last month to 3.6% in the May survey, and represents that weighted mid-point of the responses by the 223 survey participants, who manage a total of $643BN .

As a reminder, last week Hartnett explained why he agrees with the FMS response, saying “it should not be a surprise if reallocation starts before yields get to 3.5%. Indeed, as we breached 3% the following asset classes all suggested that the 3-3.5% range would become “painful” if not accompanied by much stronger economic data.”  As the BofA CIO further added, banks, homebuilding stocks, US dollar, EM, yield curve all suggested 3% on the 10-year Treasury yield was the “magic number.”

• Lower US bank stocks: rise in rates was shifting from a “good” rise to a “bad” rise (financials underperformed utilities by 1250bps since mid-March)
• Lower US homebuilding stocks: a good lead indicator of interest rates, homebuilding stocks are saying the Fed is making a “policy mistake”

Then, yesterday, as 10Y yields broke out to fresh post-Taper Tantrum highs, rising above 3.05% and as high as 3.09%, a level not seen since 2011, Bill Gross tweeted that “the Economy can’t support yields higher than 3.25% for 30s and 10s, nor 3% for 5s. Continuing hibernating bond bear market is best forecast.”

And, as we also showed yesterday, demonstrating the recent sharp drop in loan demand across the board as a result of higher rates despite far easier lending conditions, and affecting everything from C&I loans…

… to residential mortgages…

… to consumer loans…

… Gross is right, only the Fed hasn’t quite realized yet that US interest rates are now at a level that leads to not only lack of loan growth, but outright deleveraging, loan destruction and thus, deflation.

To underscore his point, Gross also noted the technicals and said that “30yr Tsy long-term downward yield trendline for the past 3 decades now at  3.22%, only ~4bps higher than today’s yield.” Asking rhetorically, “will 3.22% be broken to upside?” his answer was no.

Then, overnight, another bond titan – and Gross’ former employer – Pimco also agreed with the “magic number” consensus, when its co-head of Asia-Pacific, Robert Mead, said that 10Y yields will move in a 3% to 3.5% range for the rest of the year as the Federal Reserve continues raising interest rates.

Addressing the second longest US economic expansion, and second oldest business cycle in US history…

… Mead stated the obvious to the Bloomberg Invest summit in Sydney: “we do think this hiking cycle is quite well advanced.” adding that while “the backdrop of the U.S. economy has been pretty strong and going for a long time. At some point we will find these high yields will become an impediment for growth.”

As the charts showing negative loan demand above suggest, that point is now.

Mead then said that the higher rates rise, the more the record short overhang will, or at least should, be unwound: “Nothing is pound-the-table cheap,” but rising yields mean investors can gradually reduce their underweight bond positions, Mead told the Bloomberg conference.

Confirming this observations, Mark Delaney – the chief investment officer of AustralianSuper Pty, the nation’s largest pension fund – said he was thinking about buying bonds again after selling almost all holdings last year.

“We sold almost all our bonds in 2017, but now they’re a percent higher – a percent plus, a bit higher – we’re starting to think about whether or not we should start closing those short positions,” Delaney told the Australian summit.

It’s not just positioning however, and the inevitable short squeeze: according to Jeffrey Johnson, head of Asia-Pacific fixed income at Vanguard Australia, inflation will remain anchored due to the global secular deflationary tailwinds: 

Powerful forces such as demographics, globalization and technology should keep a cap on yields, Johnson told the summit.

Putting that in numbers, Johnson said that the fair value for U.S. 10-year yields would be 3% to 3.25%. And as evidence, he added that Vanguard has seen evidence of investors getting back into fixed income to take advantage of the higher yields.

Ultimately, it will be up to the pension funds of the world, most of whom are significantly underinvested in fixed income having rushed into equities in recent years, to be the marginal buyer that pushes rates decidedly lower, especially if the Fed indeed plans to hike at least another 3 more times this year, in which case if Wall Street is right, it would be the Fed itself that inverts the yield curve.

But there’s time before that happens. For immediate next steps, just keep an eye on the value of the US Dollar: should the recent torrid rally finally fizzle, that will be the time to go long bonds.

via RSS https://ift.tt/2Gp3cyd Tyler Durden

It’s been a roller-coaster week for US Small Caps.

After tumbling off opening highs on Monday they are roaring back to new record highs today…

just as US economic data are the weakest and most disappointing in 7 months…

So what happens next?

 

via RSS https://ift.tt/2wM2kUR Tyler Durden

In their latest push to reinvigorate the growth of its lynchpin Amazon Prime service, Jeff Bezos & Co. are offering members even greater discounts at Amazon’s Whole Foods Stores.

Whole Foods will now offer Prime customers another 10% discount on top of the price reductions that have already been announced since Amazon took control of the company.

After a 20% price hike earlier this year, Amazon is facing more pressure to appease its prime membership as analysts worry about slowing growth. The company apparently believes Whole Foods will be an integral part of that strategy, even though its stores only represent a tiny fraction of American grocery stores.

As we pointed out yesterday, with gas prices nearing $3 a gallon sopping up more of consumers’ cash, WFM is launching its latest strike against its rivals at a particularly vulnerable time.

Here’s the Wall Street Journal:

The online retail giant said it would knock 10% off already discounted items and each week cut prices on other products throughout the store. This week’s deals, for example, include half off wild-caught halibut, buy-one, get-one free 12-pack case of sparkling water and $2.99 for a pound of organic strawberries.

The new deals are available immediately at Florida stores and will be rolling out to its more than 460 stores nationwide this summer. Cem Sibay, vice president of Amazon Prime, said the 10% discount will apply to hundreds or even thousands of already discounted items in each store, while the weekly rotation of deals will typically number in the single digits.

“It’ll be a good mix of produce, meats and seafood,” he said.

After revealing that its Prime service has more than 100 million members world-wide, Amazon is worried that it has largely reached its peak adoption among wealthy American households, and that Jeff Bezos might fall short in his quest to become the first trillionaire.

But since the program was introduced in 2005, Bezos has been adding ever more ambitious features. For example, Amazon recently added in-car delivery for Prime members and a Prime Book Box that offers a curated subscription of children’s books at a discount. In some markets, it’s even offering one- and two-hour delivery. Unwilling to rely exclusively on wealthy Americans, Amazon recently introduced a $5.99 a month service for families who rely on government benefits.

But as Reuters points out, the new Whole Foods loyalty program might take some convincing. That’s because, even after several rounds of price cuts, WFM hasn’t been able to shake its “Whole Paycheck” image.

Still, Philadelphia-area Whole Foods shopper and Prime member Heather Kincade, 46, is going to need convincing.

While Whole Foods’ prices on staples like rotisserie chicken, bananas and avocados have come down, she still thinks some every day items are prohibitively expensive. “If I start buying dish soap and other things there, I will have hit the big time,” she said.

Though if the cuts make all products at Whole Foods cheaper than its competitors, Prime members might become interested.

Either way, by persistently slashing prices, WFM is pressuring its much larger rivals to consider following suit even as rising fuel costs are contributing to higher expenses.

But while Whole Foods can withstand a prolonged period of losses thanks to Amazon’s backing, the small grocery stores that still comprise a large chunk of the American market cannot.

via RSS https://ift.tt/2jZrQwC Tyler Durden