社区
首页
集团介绍
社区
资讯
行情
学堂
TigerAI
登录
注册
Dnj
IP属地:未知
+关注
帖子 · 19
帖子 · 19
关注 · 0
关注 · 0
粉丝 · 0
粉丝 · 0
Dnj
Dnj
·
2021-06-22
Like
Plug Power moves higher following mixed Q1 results
(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-th
Plug Power moves higher following mixed Q1 results
看
1,088
回复
评论
点赞
2
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-22
Like
非常抱歉,此主贴已删除
看
470
回复
评论
点赞
3
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-22
Like
非常抱歉,此主贴已删除
看
603
回复
评论
点赞
1
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-22
Like
Powell Just Launched $2 Trillion In "Heat-Seeking Missiles": Zoltan Explains How The Fed Started The Next Repo Crisis
Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect
Powell Just Launched $2 Trillion In "Heat-Seeking Missiles": Zoltan Explains How The Fed Started The Next Repo Crisis
看
347
回复
评论
点赞
2
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-22
Like
非常抱歉,此主贴已删除
看
726
回复
评论
点赞
1
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-18
Good
非常抱歉,此主贴已删除
看
1,570
回复
评论
点赞
点赞
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-18
Good
非常抱歉,此主贴已删除
看
528
回复
评论
点赞
1
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-18
Good
非常抱歉,此主贴已删除
看
790
回复
评论
点赞
点赞
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-18
Good
非常抱歉,此主贴已删除
看
626
回复
评论
点赞
点赞
编组 21备份 2
分享
举报
Dnj
Dnj
·
2021-06-18
Good
非常抱歉,此主贴已删除
看
504
回复
评论
点赞
点赞
编组 21备份 2
分享
举报
加载更多
暂无粉丝
热议股票
{"i18n":{"language":"zh_CN"},"isCurrentUser":false,"userPageInfo":{"id":"3560174026519190","uuid":"3560174026519190","gmtCreate":1597162371116,"gmtModify":1611800350446,"name":"Dnj","pinyin":"dnj","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":17,"tweetSize":19,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":1,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"228c86a078844d74991fff2b7ab2428d-2","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资总监虎","description":"证券账户累计交易金额达到30万美元","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.33%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.01.01","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.42%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":4,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":129609364,"gmtCreate":1624370010358,"gmtModify":1634007149489,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129609364","repostId":"1164714575","repostType":4,"repost":{"id":"1164714575","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624369315,"share":"https://www.laohu8.com/m/news/1164714575?lang=&edition=full","pubTime":"2021-06-22 21:41","market":"us","language":"en","title":"Plug Power moves higher following mixed Q1 results","url":"https://stock-news.laohu8.com/highlight/detail?id=1164714575","media":"Tiger Newspress","summary":"(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-th","content":"<p>(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.</p>\n<p><img src=\"https://static.tigerbbs.com/18c95193b7e71aa70fb34e84ee562115\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Plug Power Missed Earnings Estimates. Why Its Stock Is Gaining?</b></p>\n<p>Hydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.</p>\n<p>The report signals things are calming down at the company, after results were delayed by accounting issues.</p>\n<p>Plug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.</p>\n<p>Plug also ended the quarter with more than $4.3 billion in cash on the balance sheet.</p>\n<p>Plug stock rose 0.5% in premarket trading. S&P 500 futures are flat.</p>\n<p>It took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.</p>\n<p>The accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.</p>\n<p>Plug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.</p>\n<p>Year to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Plug Power moves higher following mixed Q1 results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPlug Power moves higher following mixed Q1 results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-22 21:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.</p>\n<p><img src=\"https://static.tigerbbs.com/18c95193b7e71aa70fb34e84ee562115\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Plug Power Missed Earnings Estimates. Why Its Stock Is Gaining?</b></p>\n<p>Hydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.</p>\n<p>The report signals things are calming down at the company, after results were delayed by accounting issues.</p>\n<p>Plug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.</p>\n<p>Plug also ended the quarter with more than $4.3 billion in cash on the balance sheet.</p>\n<p>Plug stock rose 0.5% in premarket trading. S&P 500 futures are flat.</p>\n<p>It took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.</p>\n<p>The accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.</p>\n<p>Plug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.</p>\n<p>Year to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164714575","content_text":"(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.\n\nPlug Power Missed Earnings Estimates. Why Its Stock Is Gaining?\nHydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.\nThe report signals things are calming down at the company, after results were delayed by accounting issues.\nPlug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.\nPlug also ended the quarter with more than $4.3 billion in cash on the balance sheet.\nPlug stock rose 0.5% in premarket trading. S&P 500 futures are flat.\nIt took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.\nThe accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.\nPlug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.\nYear to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.","news_type":1,"symbols_score_info":{"PLUG":0.9}},"isVote":1,"tweetType":1,"viewCount":1088,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120330128,"gmtCreate":1624296521164,"gmtModify":1634008184834,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120330128","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120330990,"gmtCreate":1624296503510,"gmtModify":1634008184956,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120330990","repostId":"1127414335","repostType":4,"isVote":1,"tweetType":1,"viewCount":603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120397419,"gmtCreate":1624296481231,"gmtModify":1634008185181,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120397419","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","kind":"news","pubTimestamp":1624259620,"share":"https://www.laohu8.com/m/news/1146982088?lang=&edition=full","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p>\n<p><img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p>\n<p>But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p>\n<p><img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p>\n<blockquote>\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n</blockquote>\n<p>Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p>\n<p>In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p>\n<p><img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p>\n<p>What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p>\n<p>In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p>\n<p>He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p>\n<p>Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p>\n<p><img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p>\n<p>This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p>\n<p>And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p>\n<p>Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p>\n<p>Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p>\n<p>Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p>\n<p>Translation: <b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 15:13 GMT+8 <a href=https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the...</p>\n\n<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120397875,"gmtCreate":1624296444997,"gmtModify":1634008185697,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120397875","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166091683,"gmtCreate":1623985011142,"gmtModify":1634024656284,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166091683","repostId":"2144513725","repostType":4,"isVote":1,"tweetType":1,"viewCount":1570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166099066,"gmtCreate":1623984983355,"gmtModify":1634024658774,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166099066","repostId":"2144574107","repostType":4,"isVote":1,"tweetType":1,"viewCount":528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166004720,"gmtCreate":1623984964060,"gmtModify":1634024660414,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166004720","repostId":"2144742421","repostType":4,"isVote":1,"tweetType":1,"viewCount":790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166002125,"gmtCreate":1623984939267,"gmtModify":1634024662581,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166002125","repostId":"2144286417","repostType":4,"isVote":1,"tweetType":1,"viewCount":626,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166008447,"gmtCreate":1623984925189,"gmtModify":1634024664340,"author":{"id":"3560174026519190","authorId":"3560174026519190","name":"Dnj","avatar":"https://static.tigerbbs.com/9116d03ea74b465b0413a89b5cb2f263","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560174026519190","authorIdStr":"3560174026519190"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166008447","repostId":"2144286417","repostType":4,"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":false}