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How to watch the NFL without cable — the Bills and Patriots face off for the AFC East lead on Monday Night Football

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.You can watch the NFL on various live TV streaming services.Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week 13 of the 2021 NFL season includes the Bills and Patriots on Monday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. The 2021 NFL season enters the home stretch in week 13, with a single loss separating the top six teams in the AFC and more than 10 NFC teams in the playoff hunt. The 7-4 Buffalo Bills will host the 8-4 New England Patriots in a high-profile Monday Night Football game that will have serious ramifications on the AFC East division race. Buffalo beat New England twice in 2020 after losing seven straight games to the Patriots dating back to 2016. This season New England is led by rookie quarterback Mac Jones, who has outperformed the league's other rookie signal-callers after being taken 15th overall in the draft. Bills quarterback Josh Allen is a candidate for most valuable player this year, with more than 3,000 passing yards and 25 touchdowns so far this season.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 13 scheduleWeek 13 of the NFL regular season begins with a Thursday Night Football matchup between the Cowboys and Saints on Fox, NFL Network, and Amazon Prime Video. This week's Sunday Night Football game will feature the Broncos and Chiefs on NBC and Peacock.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. GameDate and timeChannelDallas Cowboys at New Orleans SaintsDecember 2, 8:20 p.m. ETFox, NFL Network, Amazon PrimeNew York Giants at Miami DolphinsDecember 5, 1 p.m. ETFoxIndianapolis Colts at Houston TexansDecember 5, 1 p.m. ETCBSMinnesota Vikings at Detroit LionsDecember 5, 1 p.m. ETCBSPhiladelphia Eagles at New York JetsDecember 5, 1 p.m. ETCBSArizona Cardinals at Chicago BearsDecember 5, 1 p.m. ETFoxLos Angeles Chargers at Cincinnati BengalsDecember 5, 1 p.m. ETCBSTampa Bay Buccaneers at Atlanta FalconsDecember 5, 1 p.m. ETFoxJacksonville Jaguars at Los Angeles RamsDecember 5, 4:05 p.m. ETFoxWashington Football Team at Las Vegas RaidersDecember 5, 4:05 p.m. ETFoxBaltimore Ravens at Pittsburgh SteelersDecember 5, 4:25 p.m. ETCBSSan Francisco 49ers at Seattle SeahawksDecember 5, 4:25 p.m. ETCBSDenver Broncos at Kansas City ChiefsDecember 5, 8:20 p.m. ETNBC, PeacockNew England Patriots at Buffalo BillsDecember 6, 8:15 p.m. ETESPN, ESPN2How to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable.HDTV AntennaBen Blanchet/InsiderYou can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.Channel Master FLATenna 35 Duo$25.00 FROM WALMART$10.00 FROM CHANNEL MASTERSling TVAlyssa Powell/Business InsiderIf you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. Sling TV $10.00 FROM SLINGOriginally $35.00 | Save 71%Hulu with Live TVBusiness InsiderIn addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. Hulu + Live TV$64.98 FROM HULUFubo TVFuboTVAt $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. Fubo TV (Starter Plan)$64.98 FROM FUBOTVYouTube TVYouTubeWith a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.Youtube TV$54.99 FROM YOUTUBEOriginally $64.98 | Save 15%NFL Sunday TicketREUTERS/Carlo AllegriNFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football. DirecTV NFL Sunday Ticket$73.48 FROM DIRECTVParamount PlusCBSIf you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Paramount Plus Essential Monthly Plan (ad-supported)$4.99 FROM PARAMOUNTParamount Plus Premium Monthly Plan (ad-free)$9.99 FROM PARAMOUNTPeacock PremiumPeacockPeacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Peacock Premium (Monthly Plan)$4.99 FROM PEACOCK TVAmazon Prime VideoAmazonThough yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Amazon Prime Video Monthly Subscription$8.99 FROM AMAZON PRIME VIDEOAmazon Prime Monthly Subscription$12.99 FROM AMAZONYahoo Sports app and NFL appYahooIf you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet.Read the original article on Business Insider.....»»

Category: personnelSource: nytDec 2nd, 2021

How to watch the NFL without cable - the Chiefs and Raiders face off Sunday night on Peacock and NBC

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. When you buy through our links, Insider may earn an affiliate commission. Learn more. You can watch the NFL on various live TV streaming services. Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week 10 of the 2021 NFL season includes the Chiefs and Raiders on Sunday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. Table of Contents: Masthead StickyWeek 10 of the 2021 NFL season includes a crucial Sunday Night Football matchup between the Kansas City Chiefs and Las Vegas Raiders. The AFC West rivals are vying for strong playoff positioning in an increasingly competitive conference.The Raiders are tied with the Chargers for the AFC West lead with a 5-3 record, but the 5-4 Chiefs led by Patrick Mahomes could overtake Las Vegas in the standings with a win. NBC and Peacock will air the game on November 14 at 8:20 p.m. ET from Allegiant Stadium in Las Vegas.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 10 scheduleWeek 10 of the NFL regular season includes a Thursday Night Football matchup between the Baltimore Ravens and Miami Dolphins on Fox, NFL Network, and Amazon Prime Video. This week's Monday Night Football game will feature the Los Angeles Rams and San Francisco 49ers.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. GameDate and timeChannelBaltimore Ravens at Miami DolphinsNovember 11, 8:20 p.m. ETFox, NFL Network, Amazon PrimeBuffalo Bills at New York JetsNovember 14, 1 p.m. ETCBSTampa Bay Buccaneers at Washington Football TeamNovember 14, 1 p.m. ETFoxAtlanta Falcons at Dallas CowboysNovember 14, 1 p.m. ETFoxNew Orleans Saints at Tennessee TitansNovember 14, 1 p.m. ETCBSJacksonville Jaguars at Indianapolis ColtsNovember 14, 1 p.m. ETCBSDetroit Lions at Pittsburgh SteelersNovember 14, 1 p.m. ETFoxCleveland Browns at New England PatriotsNovember 14, 1 p.m. ETCBSMinnesota Vikings at Los Angeles ChargersNovember 14, 4:05 p.m. ETFoxCarolina Panthers at Arizona CardinalsNovember 14, 4:05 p.m. ETFoxPhiladelphia Eagles at Denver BroncosNovember 14, 4:25 p.m. ETCBSSeattle Seahawks at Green Bay PackersNovember 14, 4:25 p.m. ETCBSKansas City Chiefs at Las Vegas RaidersNovember 14, 8:20 p.m. ETNBC, Peacock PremiumLos Angeles Rams at San Francisco 49ersNovember 15, 8:15 p.m. ETESPN, ESPN2How to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable. HDTV Antenna Ben Blanchet/Insider You can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.FLATenna 35 Duo (small) Sling TV Alyssa Powell/Business Insider If you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. TV (small) Hulu with Live TV Business Insider In addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. + Live TV (small) Fubo TV FuboTV At $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. TV (Starter Plan) (small) YouTube TV YouTube With a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.TV (small) NFL Sunday Ticket REUTERS/Carlo Allegri NFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football.  Paramount Plus CBS If you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Essential Monthly Plan (ad-supported) (small)Premium Monthly Plan (ad-free) (small) Peacock Premium Peacock Peacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Premium (Monthly Plan) (small) Amazon Prime Video Amazon Though yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Prime Video Monthly Subscription (small)Prime Monthly Subscription (small) Yahoo Sports app and NFL app Yahoo If you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 11th, 2021

How to watch the NFL without cable — the Rams and Cardinals battle for playoff positioning on Monday Night Football

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.You can watch the NFL on various live TV streaming services.Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week 14 of the 2021 NFL season includes the Rams and Cardinals on Monday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. The 2021 NFL season is entering its final weeks and teams are still battling to secure playoff positioning. The NFC-leading Arizona Cardinals will host their NFC West rival, the Los Angeles Rams, on Monday Night Football during Week 14, with the Cardinals holding a two-game lead in the division. Cardinals quarterback Kyler Murray returned last week after a one-month absence due to injury, while the Rams are dealing with multiple injuries at wide receiver and running back, likely forcing them to rely more on recently signed receiver Odell Beckham Jr. Monday Night Football will air on ESPN at 8:15 p.m. ET on December 13.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 14 scheduleWeek 14 of the NFL regular season began with a Thursday Night Football matchup between the Steelers and Vikings on Fox, NFL Network, and Amazon Prime Video. This week's Sunday Night Football game will feature the Bears and Packers on NBC and Peacock. Teams with byes this week include the Indianapolis Colts, Miami Dolphins, New England Patriots, and Philadelphia Eagles.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. GameDate and timeChannelPittsburgh Steelers at Minnesota VikingsDecember 9, 8:20 p.m. ETFox, NFL Network, Amazon PrimeDallas Cowboys at Washington Football TeamDecember 12, 1 p.m. ETFoxJacksonville Jaguars at Tennessee TitansDecember 12, 1 p.m. ETCBSSeattle Seahawks at Houston TexansDecember 12, 1 p.m. ETFoxLas Vegas Raiders at Kansas City ChiefsDecember 12, 1 p.m. ETCBSNew Orleans Saints at New York JetsDecember 12, 1 p.m. ETCBSAtlanta Falcons at Carolina PanthersDecember 12, 1 p.m. ETFoxBaltimore Ravens at Cleveland BrownsDecember 12, 1 p.m. ETCBSNew York Giants at Los Angeles ChargersDecember 12, 4:05 p.m. ETFoxDetroit Lions at Denver BroncosDecember 12, 4:05 p.m. ETFoxSan Francisco 49ers at Cincinnati BengalsDecember 12, 4:25 p.m. ETCBSBuffalo Bills at Tampa Bay BuccaneersDecember 12, 4:25 p.m. ETCBSChicago Bears at Green Bay PackersDecember 12, 8:20 p.m. ETNBC, PeacockLos Angeles Rams at Arizona CardinalsDecember 13, 8:15 p.m. ETESPN, ESPN2How to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable.HDTV AntennaBen Blanchet/InsiderYou can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.Channel Master FLATenna 35 Duo$25.00 FROM WALMART$10.00 FROM CHANNEL MASTERSling TVAlyssa Powell/Business InsiderIf you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. Sling TV $10.00 FROM SLINGOriginally $35.00 | Save 71%Hulu with Live TVBusiness InsiderIn addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. Hulu + Live TV$64.98 FROM HULUFubo TVFuboTVAt $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. Fubo TV (Starter Plan)$64.98 FROM FUBOTVYouTube TVYouTubeWith a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.Youtube TV$54.99 FROM YOUTUBEOriginally $64.98 | Save 15%NFL Sunday TicketREUTERS/Carlo AllegriNFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football. DirecTV NFL Sunday Ticket$73.48 FROM DIRECTVParamount PlusCBSIf you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Paramount Plus Essential Monthly Plan (ad-supported)$4.99 FROM PARAMOUNTParamount Plus Premium Monthly Plan (ad-free)$9.99 FROM PARAMOUNTPeacock PremiumPeacockPeacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Peacock Premium (Monthly Plan)$4.99 FROM PEACOCK TVAmazon Prime VideoAmazonThough yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Amazon Prime Video Monthly Subscription$8.99 FROM AMAZON PRIME VIDEOAmazon Prime Monthly Subscription$12.99 FROM AMAZONYahoo Sports app and NFL appYahooIf you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 10th, 2021

Futures Rebound Ahead Of Critical CPI Print

Futures Rebound Ahead Of Critical CPI Print US futures rebounded on Friday from Thursday's selloff as traders waited with bated breath for an inflation report that could strengthen the case for an aggressive policy tightening by the Federal Reserve, while Oracle Corp jumped on an upbeat third-quarter outlook. At 730 a.m. ET, Dow e-minis were up 109 points, or 0.30%, S&P 500 e-minis were up 16.25 points, or 0.35%, and Nasdaq 100 e-minis were up 53.50 points, or 0.4%. Europe’s Stoxx 600 Index pared an earlier decline, while a Bloomberg gauge of Asian airlines fell. In China, Evergrande chairman Hui Ka Yan sold just over a 2% stake in the company, in the same week the property developer was officially labeled a defaulter for the first time. The dollar, Treasury yields and oil advanced. Shares of Oracle gained 11.2% in premarket trading after posting forecast-beating results for the second quarter, helped by higher technology spending from businesses looking to support hybrid work.  Broadcom Inc rose 7.0% as the semiconductor firm sees first-quarter revenue above Wall Street expectations and announced a $10 billion share buyback plan. So far this week, the Nasdaq and the S&P advanced over 2.8% each and the Dow rallied 3.4%. The S&P is now down 1.6% from its all-time peak. The S&P 500 dropped 5.2% from a record high hit on Nov. 22 as investors digested Jerome Powell's renomination as the Fed's chair, his hawkish commentary to tackle. Meanwhile, the U.S. Senate on Thursday passed and sent to President Joe Biden the first of two bills needed to raise the federal government's $28.9 trillion debt limit and avert an unprecedented default. In other news, the U.S. government moved a step closer to prosecuting Julian Assange on espionage charges, after London judges accepted that the WikiLeaks chief can be safely sent to America. With headline CPI expected to print at 6.8% Y/Y this morning - in what would be its highest level since 1982 - with whisper numbers are high as the low 8% after Biden said that this month's number won't show the drop in gasoline prices (which is certainly transitory now that oil price are on track for the biggest weekly gain since August), it is very likely that the CPI number will miss and we will see a major relief rally. On the other hand, any upside surprise on the reading will likely bolster the case for a faster tapering of bond purchases and bring forward expectations for interest rate hikes ahead of the U.S. central bank's policy meeting next week. “Various FOMC participants, including Chair Powell, have signaled a hawkish shift in their policy stance, catalyzed by increasing discomfort with elevated inflation against a backdrop of robust growth and ongoing strengthening in labor markets conditions,” Morgan Stanley economists and strategists including Ellen Zentner, wrote in a note Thursday. “We revise our Fed call and now expect the FOMC to begin raising rates in Sept. 2022 -- two quarters earlier than our prior forecast.” Discussing today's key event, the CPI print, DB's Jim Reid writes that "our US economists are anticipating that headline CPI will rise to +6.9%, which would be the fastest annual pace since 1982. And they see core inflation heading up to +5.1%, which would be the highest since 1990. Bear in mind as well that this is the last big release ahead of next Wednesday’s Federal Reserve decision, where our economists are expecting they’ll double the pace of tapering. Chair Powell himself reinforced those expectations in recent testimony, stopping just shy of unilaterally announcing the faster taper. Crucially, he noted this CPI print and the evolution of the virus were potential roadblocks to a faster taper next week. That said, the bar is extremely high for today’s data print to alter their course, especially with the Covid outlook having not deteriorated markedly since his testimony. By the close last night, Fed funds futures were fully pricing in a rate hike by the June meeting, alongside more than 70% chance of one by the May meeting." A reminder that last month saw another bumper print, with the monthly price gain actually at its fastest pace since July 2008, which sent the annual gain up to its highest since 1990, at +6.2%. It also marked the 6th time in the last 8 months that the monthly headline print had been above the consensus estimate on Bloomberg, and in another blow for team transitory, the drivers of inflation were increasingly broad-based, rather than just in a few categories affected by the pandemic. It may have been the death knell for team transitory, with Chair Powell taking pains to retire the term in the aforementioned testimony before Congress. In Europe, stocks fell slightly as a rise in coronavirus infections, with the Stoxx 600 dropping 0.3%, weighed down the most by tech, health care and utilities. DAX -0.2%, and FTSE 100 little changed, both off worst levels. Meanwhile, an epidemiologist has said that the omicron strain may be spreading faster in England than in South Africa, with U.K. cases possibly exceeding 60,000 a day by Christmas. Banks in the U.K. have already started telling staff to work from home in response to the government’s guidance.  Daimler AG’s trucks division gained in its first trading day as the storied German manufacturer completed a historic spinoff to better face sweeping changes in the auto industry. Polish retailer LPP rose to a record. Asian stocks fell on worries over the global spread of the omicron virus strain and after China Evergrande and Kaisa Group officially defaulted on their dollar debt. The MSCI Asia Pacific Index lost as much as 0.9%, with healthcare, technology and consumer discretionary sectors being the worst performers. Benchmarks slid in China and Hong Kong after Fitch Ratings cut Evergrande and Kaisa to “restricted default,” with the Hang Seng Index being the region’s biggest loser. Investors remain concerned that the omicron virus strain may crimp the economic rebound. South Korea brought forward the timing for Covid-19 booster shots to just three months after the second dose, as one of Asia’s most-vaccinated countries grapples with its worst ever virus surge. The Kospi snapped a seven-day winning run. Meanwhile, the U.S. appears to be headed for a holiday crisis as virus cases and hospital admissions climb, while London firms started telling thousands of staff to work from home. “In Europe, restrictions are being put in place, not just in the U.K. but also in other countries, due to the spread of the omicron variant, spurring worry over the impact on the economy,” said Nobuhiko Kuramochi, a market strategist at Mizuho Securities. “If work-from-home practices are prolonged, consumption will become lackluster, delaying any recovery.” Still, the Asian benchmark is up 1.2% from Dec. 3, poised for its best weekly advance in about two months. That’s owing to gains earlier in the week after China’s move to boost liquidity helped restore investor confidence. Traders are now turning focus to U.S. inflation data due later in the day for clues on the pace of anticipated tapering. China’s central bank took further steps to limit the yuan’s strength -- setting the weakest reference rate relative to estimates compiled by Bloomberg since 2018 -- a day after policy makers raised the foreign currency reserve requirement ratio for banks a second time this year. In rates, the Treasury curve bear flattened with 5s30s printing sub-60bps ahead of today’s November CPI data. Bunds and gilts are quiet; Italy leads a broader tightening of peripheral spreads. In FX, the Bloomberg Dollar Spot Index rises 0.2%, building on modest strength during the Asian session. AUD leads G-10 peers; NZD and SEK are weakest, although ranges are narrow. Demand for euro downside exposure waned this week as investors now focus on the upcoming decisions by the Federal Reserve and the European Central Bank. China’s central bank took further steps to limit the yuan’s strength In commodities, brent crude is slightly higher on the day, hovering around the $74-level, while WTI climbs 0.6% to $71-a-barrel. Base metals are mixed. LME aluminum and copper rise, while zinc and lead declines. Spot gold drops $4 to $1,771/oz. Looking at the day ahead now, and the main data highlight will be the aforementioned US CPI reading for November. In addition, there’s the University of Michigan’s preliminary consumer sentiment index for December, UK GDP for October and Italian industrial production for October. Central bank speakers include ECB President Lagarde, along with the ECB’s Weidmann, Villeroy, Panetta and Elderson. Market Snapshot S&P 500 futures up 0.2% to 4,677.75 STOXX Europe 600 down 0.4% to 474.88 MXAP down 0.8% to 193.90 MXAPJ down 0.8% to 632.63 Nikkei down 1.0% to 28,437.77 Topix down 0.8% to 1,975.48 Hang Seng Index down 1.1% to 23,995.72 Shanghai Composite down 0.2% to 3,666.35 Sensex little changed at 58,799.05 Australia S&P/ASX 200 down 0.4% to 7,353.51 Kospi down 0.6% to 3,010.23 Brent Futures up 0.4% to $74.69/bbl Gold spot down 0.3% to $1,770.81 U.S. Dollar Index little changed at 96.32 German 10Y yield little changed at -0.34% Euro down 0.1% to $1.1281 Top Overnight News from Bloomberg Already fighting economic fires on a number of fronts, China is rushing to clamp down on speculation in its strengthening currency before it gets out of control The arrival of the omicron variant has triggered a global rush for booster shots, but questions remain over whether it is the right strategy against omicron The Biden administration aims to sign what could prove a “very powerful” economic framework agreement with Asian nations -- focusing on areas including coordination on supply chains, export controls and standards for artificial intelligence -- next year, Commerce Secretary Gina Raimondo said A mouse bite is at the center of an investigation into a possible new Covid-19 outbreak in Taiwan, after a worker at a high-security laboratory was confirmed as the island’s first local case in more than a month A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks were on the back foot as the region took its cue from the weak performance in the US, where the major indices reversed recent upside in the run-up to today’s US CPI metric. The ASX 200 (-0.4%) was led lower by the underperformance in energy and tech after a retreat in oil prices and similar weakness of their counterpart sectors in US. The Nikkei 225 (-1.0%) remained lacklustre as it succumbed to the recent inflows into the currency, although the downside was stemmed as participants digested a record increase in wholesale prices. The Hang Seng (-1.0%) and Shanghai Comp. (-0.2%) were hindered by several headwinds including lower-than-expected lending and aggregate financing data, as well as China’s latest internet crackdown in which it removed 106 apps from app stores. However, losses were contained by a softer currency after China’s efforts to curb RMB strength including the PBoC’s 200bps FX RRR hike yesterday and its overnight weakening of the reference rate by the widest margin against estimates on record. Finally, 10yr JGBs were quiet after the mixed performance in US fixed income markets and with the risk-averse mood counterbalanced by the lack of BoJ purchases in the market today, although later saw a bout of selling on a breakdown of support at the key 152.00 level. Top Asian News Evergrande’s Hui Forced to Sell Part of Stake in Defaulted Firm Hui Has 277.8m Evergrande Shares Sold Under Enforced Disposal Asia Stocks Fall on Renewed Concerns Over Evergrande and Omicron Gold Heads for Worst Weekly Run Since 2019 Before Inflation Data Cash bourses in Europe kicked off the session with modest losses across the board, but the region has been clambering off worst levels since (Euro Stoxx 50 -0.3%; Stoxx 600 -0.3%) as traders gear up for the US CPI release (full preview available on the Newsquawk headline feed). US equity futures meanwhile post modest broad-based gains across the ES (+0.3%), NQ (+0.3%), RTY (+0.4) and YM (+0.2%). Back to Europe, cash markets see broad but contained downside. Sectors are mixed with no overarching theme or bias. Tech resides at the foot of the bunch with heavyweight SAP (-0.2%) failing to garner impetus from Oracle’s (+11% pre-market) blockbuster earnings after beating expectations on the top and bottom lines and announcing a new USD 10bln stock-repurchase authorisation. The upside meanwhile sees some of the more inflation-related sectors, including Oil & Gas, auto, Goods, Foods, and Beverages. In terms of individual movers, Bayer (+1.8%) is firmer after the Co. won a second consecutive trial in California regarding its Roundup weed killer. Daimler (-15%) sits at the foot of the Stoxx 600 after spinning off its Daimler Trucks unit (+4%) - considered to be a market listing rather than a full initial public offering. Top European News Heathrow Offers Bleak Outlook as Omicron Halts Long-Haul Rebound HSBC, JPMorgan, Deutsche Bank Tell London Staff to Stay Home SocGen CEO Takes Over Compliance After $2.6 Billion Fines Santander AM Names Utrera as Head of Equities as Montero Exits In FX, not a lot of deviation from recent ranges, but the Greenback is grinding higher ahead of US inflation data and Treasuries are bear-steepening to suggest hedging or positioning for an upside surprise following pointers from President Biden and NEC Director Deese to that effect (both advising that recent declines in prices, including energy, will not be reflected in November’s metrics). The index is back above the 96.000 level that has been very pivotal so far this week and hovering near the upper end of a 96.429-157 range, while the benchmark 10 year T-note yield is holding above 1.50% after a so-so long bond auction to wrap up the latest refunding remit. NZD/JPY/GBP - It’s marginal, but the Kiwi, Yen and Pound are lagging behind in the G10 stakes, with Nzd/Usd back below 0.6800 and perhaps taking note of a marked slowdown in the manufacturing PMI to 50.6 in November from 54.3, while Usd/Jpy is straddling 113.50 and eyeing DMAs either side of the half round number and Cable remains choppy around 1.3200 in wake of UK GDP, ip and output all missing consensus. AUD/CAD/EUR/CHF - All a tad more narrowly divergent vs the Buck, and the Aussie managing to keep tabs on 0.7150 after outperformance post-RBA on mainly external and technical impulses. Elsewhere, the Loonie has limited losses through 1.2700 with some assistance from hawkish sounding commentary from BoC Deputy Governor Gravelle rather than choppy crude prices as WTI swings around Usd 71/brl. To recap, he said that concerns over inflation are heightened on the upside much more than usual and the BoC is likely to react a little bit more readily to the upside risk given that inflation is already above the control range. Elsewhere, the Euro continues to fade on advances beyond 1.1300 and hit resistance at or near the 21 DMA and the Franc is more attuned to yields than risk sentiment at present, like the Yen, though is outpacing the Euro, as Eur/Chf veers towards 1.0400 again and Usd/Chf sits closer to 0.9250 vs 0.9200. In commodities, WTI and Brent front-month futures have been edging higher in early European trade following a choppy APAC session and in the run-up today’s main event, the US inflation data. Currently, WTI Jan trades just under USD 71.50/bbl (vs low USD 70.32/bbl) while Brent Feb resides north of USD 74.50/bbl (vs low USD 73.80/bbl), with news flow also on the lighter side ahead of the tier 1 data. In terms of other macro events, sources suggested Iran is willing to work from the basis of texts created in June on nuclear discussions, which will now be put to the test in upcoming days, via a European diplomatic source. This would mark somewhat of a shift from reports last week which suggested that Iran took a tougher stance than it had back in June. Western diplomats last week suggested that Tehran ramped up their conditions, which resulted in talks stalling last Friday. Aside from that, relevant news flow has been light for the complex. Elsewhere, spot gold and silver are drifting lower in tandem gains in the Dollar – spot gold has dipped under USD 1,770/oz, with the current YTD low at 1,676/oz. LME copper holds its head above USD 9,500/t but within a tight range amid the overall indecisive mood across the markets. US Event Calendar 8:30am: Nov. CPI YoY, est. 6.8%, prior 6.2%; MoM, est. 0.7%, prior 0.9% 8:30am: Nov. CPI Ex Food and Energy YoY, est. 4.9%, prior 4.6%; MoM, est. 0.5%, prior 0.6% 8:30am: Nov. Real Avg Hourly Earning YoY, prior -1.2%, revised -1.3% Real Avg Weekly Earnings YoY, prior -1.6% 10am: Dec. U. of Mich. 1 Yr Inflation, est. 5.0%, prior 4.9%; 5-10 Yr Inflation, prior 3.0% Sentiment, est. 68.0, prior 67.4 Expectations, est. 62.5, prior 63.5 Current Conditions, est. 73.5, prior 73.6 DB's Jim Reid concludes the overnight wrap I’m sure if anyone had said to you at the start of 2021 that US CPI would end the year around 7% YoY then there may have been some sleepless nights about how to position your portfolio. The reality is that as inflation has risen, the market has managed to go through denial, transitory, elongated transitory, and now the retirement of transitory, all without much fuss. I’ve said this before but I doubt there is anyone in the world that predicted we’d end the year at near 7% whilst at the same time having 10yr UST yields still at around 1.5%. Today our US economists are anticipating that headline CPI will rise to +6.9%, which would be the fastest annual pace since 1982. And they see core inflation heading up to +5.1%, which would be the highest since 1990. Bear in mind as well that this is the last big release ahead of next Wednesday’s Federal Reserve decision, where our economists are expecting they’ll double the pace of tapering. Chair Powell himself reinforced those expectations in recent testimony, stopping just shy of unilaterally announcing the faster taper. Crucially, he noted this CPI print and the evolution of the virus were potential roadblocks to a faster taper next week. That said, the bar is extremely high for today’s data print to alter their course, especially with the Covid outlook having not deteriorated markedly since his testimony. By the close last night, Fed funds futures were fully pricing in a rate hike by the June meeting, alongside more than 70% chance of one by the May meeting. A reminder that last month saw another bumper print, with the monthly price gain actually at its fastest pace since July 2008, which sent the annual gain up to its highest since 1990, at +6.2%. It also marked the 6th time in the last 8 months that the monthly headline print had been above the consensus estimate on Bloomberg, and in another blow for team transitory, the drivers of inflation were increasingly broad-based, rather than just in a few categories affected by the pandemic. It may have been the death knell for team transitory, with Chair Powell taking pains to retire the term in the aforementioned testimony before Congress. Ahead of this, markets were in slightly subdued mood yesterday as the reality of the new Omicron restrictions in various places soured the mood. Even as the news on Omicron’s severity has remained positive, concern is still elevated that this good news on severity could be outweighed by a rise in transmissibility, which ultimately would lead to a higher absolute number of both infections and hospitalisations. Even if it doesn’t, it seems restrictions are mounting while we wait and see. In response, US equities and oil prices fell back for the first time this week, as did 10yr Treasury yields. The S&P 500 (-0.72%) and the STOXX 600 (-0.08%) fell, whilst the VIX index of volatility ticked back up +1.73pts to move above the 20 mark again. Tech stocks underperformed in a reversal of the previous session, with the NASDAQ down -1.71%, and the small-cap Russell 2000 seeing a hefty -2.27% decline, as it moved lower throughout the day. Other risk assets saw similar declines too, with Brent crude (-1.85%) and WTI (-1.96%) oil prices both paring back their gains of the week so far. The move out of risk benefited safe havens, with sovereign bond yields moving lower across the curve, with those on 10yr Treasuries down -2.2bps to 1.50%. Those moves were echoed in Europe, where yields on 10yr bunds (-4.3bps), OATs (-4.5bps) and BTPs (-2.9bps) fell back as well. That came against the backdrop of a Reuters report saying ECB governors would discuss a temporary increase in the Asset Purchase Programme at their meeting next week, albeit one that would still leave bond purchases significantly beneath their current levels once the Pandemic Emergency Purchase Programme ends in March. Bitcoin fell -5.21% to $47,997 and is now more than -29% below its all-time highs reached a month ago. Marion Laboure from my team published a piece analysing the interaction between Bitcoin and the environment given its huge energy consumption. You can find the piece here. Ahead of today’s US CPI, there was another round of robust labour market data, with the US weekly initial jobless claims down to 184k (vs. 220k expected) in the week through December 4, marking their lowest level since 1969. The 4-week moving average was also down to a fresh post-pandemic low of 218.75k, having fallen for 9 consecutive weeks now. So with the labour market becoming increasingly tight and price pressures continuing to remain strong, it’s no surprise that markets have moved over the last year from pricing no hikes at all in 2022 to almost 3. Overnight in Asia, equities are all trading in the red with the Shanghai Composite (-0.32%), Hang Seng (-0.50%), Nikkei (-0.58%), CSI (-0.62%) and KOSPI (-0.67%) tracking the weaker US close last night after a three day rally. This comes after Chinese real-estate firms Evergrande Group and Kaisa Group were downgraded to restricted default by Fitch Ratings. Elsewhere in Japan, November's PPI reading came in at the highest level since 1980 at +9.0% year-on-year against +8.5% consensus due largely to rising energy prices. Our Japan economist expects CPI rising above 1% next year to be one of the ten key events to watch in 2022. You can read more here. Staying on Japan, the ruling party today will unveil a set of tax policy measures aimed at incentivising businesses to raise wages as Prime Minister Fumio Kishida aims to deliver on campaigning promises. Futures are pointing to a slightly more positive start in the US with S&P 500 futures (+0.10%) trading higher but with DAX futures (-0.24%) catching down to the weaker US close. Out of DC, the Senate approved a one-time procedural measure that will allow them to raise the debt ceiling with a simple majority vote, ostensibly in the coming days, and hopefully for a longer period than the last six-week suspension. Yields on potentially at-risk Treasury bills are at similar levels to neighboring maturities. In terms of the latest on the pandemic, yesterday didn’t see any news of major significance, with the indicators mainly confirming what we already knew. In particular, the EU’s ECDC continued to say that among the 402 confirmed Omicron cases in the EU/EEA, all the cases with known severity were either asymptomatic or mild, with no deaths reported. So positive news for now, although it’ll be very important to keep an eye with what happens with hospitalisations in South Africa, which are continuing to rise, and the country also reported another 22,391 cases yesterday, which is once again the highest number since the Omicron variant was first reported. Separately, the US FDA moved yesterday to expand the eligibility of the Pfizer-BioNTech booster to 16 and 17 year olds. To the day ahead now, and the main data highlight will be the aforementioned US CPI reading for November. In addition, there’s the University of Michigan’s preliminary consumer sentiment index for December, UK GDP for October and Italian industrial production for October. Central bank speakers include ECB President Lagarde, along with the ECB’s Weidmann, Villeroy, Panetta and Elderson. Tyler Durden Fri, 12/10/2021 - 07:50.....»»

Category: blogSource: zerohedgeDec 10th, 2021

How to watch the NFL without cable - the Titans face the Rams this Sunday night on Peacock and NBC

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. When you buy through our links, Insider may earn an affiliate commission. Learn more. You can watch the NFL on various live TV streaming services. Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week nine of the 2021 NFL season includes the Titans and Rams on Sunday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. Table of Contents: Masthead StickyWeek nine of the 2021 NFL season includes a big Sunday Night Football matchup between the AFC-leading Tennessee Titans and the 7-1 Los Angeles Rams on NBC and Peacock Premium. Titans star running back Derrick Henry suffered an injury in last week's game and has been replaced by former all-pro Adrian Peterson; the game will air at 8:20 p.m. ET from SoFi Stadium.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 9 scheduleWeek nine of the NFL regular season includes a Thursday Night Football matchup between the New York Jets and Indianapolis Colts on Fox, NFL Network, and Amazon Prime Video. This week's Monday Night Football game will feature the Chicago Bears and Pittsburgh Steelers.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. NFL teams with byes in week eight include the Detroit Lions, Seattle Seahawks, Tampa Bay Buccaneers, and Washington Football Team.GameDate and timeChannelNew York Jets at Indianapolis ColtsNovember 4, 8:20 p.m. ETFox, NFL Network, Amazon PrimeAtlanta Falcons at New Orleans SaintsNovember 7, 1 p.m. ETFoxDenver Broncos at Dallas CowboysNovember 7, 1 p.m. ETFoxNew England Patriots at Carolina PanthersNovember 7, 1 p.m. ETCBSMinnesota Vikings at Baltimore RavensNovember 7, 1 p.m. ETFoxCleveland Browns at Cincinnati BengalsNovember 7, 1 p.m. ETCBSBuffalo Bills at Jacksonville JaguarsNovember 7, 1 p.m. ETCBSHouston Texans at Miami DolphinsNovember 7, 1 p.m. ETFoxLas Vegas Raiders at New York GiantsNovember 7, 1 p.m. ETCBSLos Angeles Chargers at Philadelphia EaglesNovember 7, 4:05 p.m. ETCBSGreen Bay Packers at Kansas City ChiefsNovember 7, 4:25 p.m. ETFoxArizona Cardinals at San Francisco 49ersNovember 7, 4:25 p.m. ETFoxTennessee Titans at Los Angeles RamsNovember 7, 8:20 p.m. ETNBC, Peacock PremiumChicago Bears at Pittsburgh SteelersNovember 8, 8:15 p.m. ETESPNHow to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable. HDTV Antenna Ben Blanchet/Insider You can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.FLATenna 35 Duo (small) Sling TV Alyssa Powell/Business Insider If you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. TV (small) Hulu with Live TV Business Insider In addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. + Live TV (small) Fubo TV FuboTV At $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. TV (Starter Plan) (small) YouTube TV YouTube With a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.TV (small) NFL Sunday Ticket REUTERS/Carlo Allegri NFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football.  Paramount Plus CBS If you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Essential Monthly Plan (ad-supported) (small)Premium Monthly Plan (ad-free) (small) Peacock Premium Peacock Peacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Premium (Monthly Plan) (small) Amazon Prime Video Amazon Though yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Prime Video Monthly Subscription (small)Prime Monthly Subscription (small) Yahoo Sports app and NFL app Yahoo If you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 4th, 2021

How to watch the NFL without cable - the undefeated Cardinals face the Packers in a Thursday night game on Prime Video

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. When you buy through our links, Insider may earn an affiliate commission. Learn more. You can watch the NFL on various live TV streaming services. Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week eight of the 2021 NFL season begins with the Packers and Cardinals on Thursday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. Table of Contents: Masthead Sticky Week eight of the 2021 NFL season begins with the undefeated Arizona Cardinals hosting the Green Bay Packers on Thursday Night Football. The game will air on Fox, the NFL Network, and Amazon Prime Video starting at 8:20 p.m. ET on October 28.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 8 scheduleWeek eight of the NFL regular season includes a Sunday Night Football matchup between the Dallas Cowboys and Minnesota Vikings on NBC and Peacock. This week's Monday Night Football game will feature the New York Giants and Kansas City Chiefs.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. NFL teams with byes in week eight include the Baltimore Ravens and Las Vegas Raiders.GameDate and timeChannelGreen Bay Packers at Arizona CardinalsOctober 28, 8:20 p.m. ETFox, NFL Network, Amazon PrimeCincinnati Bengals at New York JetsOctober 31, 1 p.m. ETCBSTennessee Titans at Indianapolis ColtsOctober 31, 1 p.m. ETCBSLos Angeles Rams at Houston TexansOctober 31, 1 p.m. ETFoxPittsburgh Steelers at Cleveland BrownsOctober 31, 1 p.m. ETCBSPhiladelphia Eagles at Detroit LionsOctober 31, 1 p.m. ETFoxSan Francisco 49ers at Chicago BearsOctober 31, 1 p.m. ETFoxCarolina Panthers at Atlanta FalconsOctober 31, 1 p.m. ETFoxMiami Dolphins at Buffalo BillsOctober 31, 1 p.m. ETCBSNew England Patriots at Los Angeles ChargersOctober 31, 4:05 p.m. ETCBSJacksonville Jaguars at Seattle SeahawksOctober 31, 4:05 p.m. ETCBSWashington Football Team at Denver BroncosOctober 31, 4:25 p.m. ETFoxTampa Bay Buccaneers at New Orleans SaintsOctober 31, 4:25 p.m. ETFoxDallas Cowboys at Minnesota VikingsOctober 31, 8:20 p.m. ETNBC, Peacock PremiumNew York Giants at Kansas City ChiefsNovember 1, 8:15 p.m. ETESPN, ESPN2How to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable. HDTV Antenna Ben Blanchet/Insider You can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.FLATenna 35 Duo (small) Sling TV Alyssa Powell/Business Insider If you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. TV (small) Hulu with Live TV Business Insider In addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. + Live TV (small) Fubo TV FuboTV At $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. TV (Starter Plan) (small) YouTube TV YouTube With a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.TV (small) NFL Sunday Ticket REUTERS/Carlo Allegri NFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football.  Paramount Plus CBS If you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Essential Monthly Plan (ad-supported) (small)Premium Monthly Plan (ad-free) (small) Peacock Premium Peacock Peacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Premium (Monthly Plan) (small) Amazon Prime Video Amazon Though yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Prime Video Monthly Subscription (small)Prime Monthly Subscription (small) Yahoo Sports app and NFL app Yahoo If you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet. Read the original article on Business Insider.....»»

Category: smallbizSource: nytOct 28th, 2021

29 useful gift ideas for moms who love tech

These are the best tech gifts for moms. Whether mom is a bookworm, a fitness fanatic, or a shutterbug, we have a gift for them this holiday season. When you buy through our links, Insider may earn an affiliate commission. Learn more. The Fitbit Inspire 2 is a nice, simple, fitness tracker that's perfect for any mom. Fitbit The best tech gifts for moms are those that upgrade their lives in simple ways. We've found some of the best tech gifts for moms that are both useful and fun. For more gift ideas, check out all of our gift guides to find something for everyone on your list. A go-to tech device can help make life more convenient and entertaining, which is why gadgets make such great gifts for just about anyone, including moms. We're now in the midst of the Black Friday and Cyber Monday shopping season, so gift hunting is about to ramp back up.Whether the mom in your life is a huge bookworm, a fitness buff, or a new mother who wants the best for their child, we've got a great tech gift for any mom in our guide. Our list includes tech gifts that fit a variety of budgets from under $10 to $100 or more, so there should be something for everyone. A fun grip for her phone PopSocket Shop all PopSockets grips for $8 and upWe spend a lot of time watching video on our smartphone or using it as a GPS while driving, and PopSocket grips have proven out to be the absolute best solution for both. PopSockets has hundreds of fun phone grips in all kinds of materials, colors, and patterns.In addition to style points, PopSocket grips make it easier to hold a large phone comfortably, giving a better grip while walking and commuting on public transit. These grips remain among the best iPhone accessories we've tried. The newest PopSockets also support Apple's MagSafe lineup of magnetic accessories for iPhone 12 and up. Apple's new tracking accessory to help mom from losing her things Lisa Eadicicco/Insider Apple AirTag, available at Apple, $29 (additional case required for keyrings)If you're a mom yourself (or are partnered with one), then you know the phrase "mom brain" all too well. With so many things to keep track of, it's only natural for mom to lose sight of at least one of those things — like their keys or purse. Apple's answer to that, AirTags, is a surprisingly affordable solution for how effective it is, offering not only direct navigation to lost items (with an iPhone 11 or newer) within range but also tracking worldwide using Apple's existing FindMy network. A portable noise machine to keep the little one fast asleep Amazon Yogasleep Hushh Portable White Noise Machine, available at Amazon, $26.99During a recent test, our own senior reporter (and newly-minted father) Antonio Villas-Boas found this portable noise machine to be particularly useful in several applications. This affordable little gadget has kept his little one sleeping in their stroller while on walks, and it even came in handy during a nighttime power outage to keep bedtime going uninterrupted. For a new mom, or even for a new grandmother, this little peacekeeper will be a welcome gift. The most affordable home security solution around to give her peace of mind Avery Hartmans/Business Insider Wyze home security cameras, available at Home Depot, starting at $25For the mom that's trying to keep their family safe without spending a fortune, a Wyze home security camera is a fine way to get her started. Wyze offers both indoor and outdoor security cameras at an incredible price: starting at just $39 for indoor cameras. Sure, these don't have the bells and whistles of premium cameras, but if all they need is some peace of mind, this is a fine way to get any mom started. One of the best sous vide machines around for expertly cooked meats Amazon Breville Joule Sous Vide (Stainless Steel), available at Amazon, $249.00Moms love a perfectly cooked steak just as much as the next person, so a sous vide machine may well be in order for the mother in your life. Sous vide is a style of cooking that uses heated water to evenly cook meat that's inside of a vacuum sealed bag, practically guaranteeing you won't overcook it. That's rather convenient for mothers out there that — contrary to the stereotype — aren't amazing cooks.Insider Reviews' Brandt Ranj reviewed the ChefSteps (also known as Breville) Joule portable sous vide machine and had much praise for it. Ranj says that it "lets me cook steaks as perfectly as a professional chef" and has dubbed it "one of my favorite kitchen tools." When you put it that way, $200 to cook steaks like Gordon Ramsey isn't a bad deal at all. A Tile Bluetooth tracker for Android users Tile Tile Pro 2-Pack Bundle with one year of Tile Premium, available at Tile, $59.99Moms have lots of things to keep track of in their lives, and it can be easy to, you know, lose track. This is when Tile Bluetooth trackers are handy, particularly for moms using Android phones. (For moms using iPhone, we suggest going with Apple's AirTag trackers instead.) The most useful feature of these little pucks? An audible chirp that the user can activate to locate the attached item with sound.This bundle also comes with one year's subscription to Tile Premium, which unlocks a "Smart Alerts" feature that lets the trackers audibly notify you when leaving their Bluetooth connectivity range. The plan also provides annual battery replacements among other features, normally costing $29.99 annually. The best tablet for reading, checking email, and watching Netflix on a bigger screen Lisa Eadicicco/Business Insider Apple iPad, available from Apple, $329Even though most of us are attached to our phones, scrolling through email, reading the news, and watching YouTube on a screen that's five or six inches is less than ideal. Apple's entry-level $329 iPad — updated once again for 2021 with the A13 Bionic processor — is a great choice for anyone in search of a general-purpose tablet. Apple's iPad continues to feature a sharp and colorful screen, long battery life, and solid performance for those who want something that's more portable than a laptop but bigger than a phone. A keyboard case to make her iPad feel more like a laptop Amazon Logitech Combo Touch Keyboard Case, available on Amazon, $145.08If your mom already has an iPad, or perhaps maybe they're getting one as a gift from someone, a keyboard case is a great addition that will enable them to get much more use out of it. Logitech has a wide variety of keyboard accessories and cases, including the Logitech Combo Touch, which is compatible with the 7th and 8th generation iPad. This model includes a spacious keyboard and trackpad and connects through Apple's smart connector, which means no fiddling with Bluetooth. A beautiful wireless charger Courant Courant wireless chargers, available at Courant, from $40Courant has a wide range of leather-clad wireless chargers and wireless charging battery packs that are as beautiful as they are useful. Mom can charge her phone, AirPods, and other gadgets with wireless charging on these pads quickly and easily. We really love the catch-all that also has a space for her wallet, keys, jewelry, and other small items. We've used Courant's chargers in our own homes and office, and they are reliable, easy to use, and super attractive to look at. A streaming player to make her TV smart Roku Roku Express 4K+ Streaming Media Player, available at Roku, $39.99Roku's latest streaming box will let mom access dozens of streaming TV and movie services, like Netflix, Hulu, and more. The streaming player comes with a special remote that features voice control and search, which is incredibly useful.The Express 4K+ is also an affordable gift that supports the latest visual standards, giving the mom in your life a massive entertainment upgrade for cheap. This could make gifting on a budget deceptively luxurious for your lucky recipient, or make for a great addition to an assortment of gifts for mom. A hydroponic garden AeroGarden AeroGarden Harvest, available at AeroGarden, $99.95Who doesn't love fresh herbs, tomatoes, and produce? AeroGraden's easy-to-use hydroponic gardens make a great gift for moms who want to grow some fresh food indoors. The Harvest has LED lights that turn on and off each day automatically to ensure that the included seed pods get all the light they need to grow. The device also alerts you when it's time to add fresh water or plant food, making it super easy to grow herbs or produce at home. Moms can grow fresh herbs, tomatoes, lettuce, and more. We've tried it to great success! A pair of blue-light-blocking glasses Felix Gray Shop all glasses at Felix Gray for $95 and upThese days, we all spend a lot of time looking at screens that display harsh blue light, which can lead to eye strain and disrupted sleep patterns. Luckily, Felix Gray makes incredible blue-light-blocking glasses for people who don't need glasses at all, as well as those who need reading or prescription glasses.The company uses special lenses that filter out blue light. Its regular pairs look like normal glasses without any visible yellow tint, but the special sleep glasses have a yellow cast to their lenses. However, they block even more blue light, making them ideal for nighttime reading. We've tried Felix Gray's glasses and we love them — we think Mom will, too. A cool device to turn old photo negatives and slides into digital photos Kodak Kodak Mobile Film Scanner, available at B&H Photo and Amazon, $35If your mom is anything like mine, she's got tons of old photos, negatives, and slides lying around from the days of physical photography. You can help her digitize her old negatives and slides with this nifty device from Kodak. Using her phone's camera and an app, she can capture the images stored on negatives and slides and get them onto her phone as normal digital pictures. A customizable phone case Casetify Casetify Custom Case, available at Casetify, from $55Casetify's easy to use online tool lets you turn your mom's favorite photos into a custom iPhone or Samsung smartphone case. Talk about a customizable gift with practical use.You can customize more than just the colors, images, or even photos – even the case's rigidity or ruggedness can be adjusted based on the case you're choosing. Several of Casetify's materials options are available, and some prioritize style over strong protection. A smart picture frame Aura Aura Mason Smart Picture Frame, available at Best Buy, $199.99Moms love nothing more than looking at pictures of their children. The Aura Mason smart picture frame lets you send Mom new photos to look at all the time. An Amazon Echo Show for video calls Amazon Amazon Echo Show 5 (2021), available on Amazon, $84.99If your mom or mother-in-law doesn't own a smartphone, that makes getting "face time" with her grandkids rather difficult. Luckily, Amazon's smart displays offer a video calling function, bringing that function into their home cheaply and easily.For 2021, Amazon has updated its Echo Show 5 with a 2-megapixel camera – a 100% improvement – for even better video calls than before. It will also cost less on your mom's energy bill with a new low-power mode when it's not in use. One of the best smartwatches to date Lisa Eadicicco/Business Insider Apple Watch SE, available at Best Buy, $279Some moms are total tech geeks, and there's nothing more appealing to a geek than a nice looking smartwatch. If Mom is an iPhone user, get her an Apple Watch SE. It's the new more affordable smartwatch from Apple, and it has all the features she'll need. A watch that looks like a traditional timepiece, but has a lot of smarts Withings Withings Steel HR, available at Amazon and Withings for $179.95If your mom isn't crazy about smartwatches with screens, but she still wants a watch that has some smart features, she'll love the Withings Steel HR. It looks like a normal watch, but it has a heart rate monitor and other sensors to track activity and sleep. The Steel HR also buzzes with notifications from select apps. The watch has a tiny screen at 12 o'clock, so when she presses the button on the side, she can see the date, time, her metrics, and incoming notifications. A smart mug that keeps her drink the perfect temperature Ember Ember Mug 2, available at Apple, $129.99Not all tech has to be super techy. Ember's smart mug is a great gift for moms who love to drink piping hot tea, coffee, or other hot drinks. The ceramic mug syncs with an app on her phone to show how much she has drunk from the mug and also the preferred temperature of her drinks. The mug comes with a coaster that can reheat her drink and keep it at the optimal temperature. We tried this mug and we loved it. The gift of peace and quiet with top-of-the-line noise-cancelling headphones Best Buy Bose QuietComfort 45 Wireless Noise-Cancelling Headphones, available at Best Buy, $329It's more than likely that the mother in your life gets called upon … a lot. For those times when they just need some peace and quiet from the constant noise, they'll appreciate your gift of Bose QuietComfort 45 wireless noise-cancelling headphones. Yes, they're rather expensive, but they're designed to last for years and stand in for almost every use case for headphones, particularly for folks that focus on the audio of their favorite movies and TV shows. For mothers that commute on public transit or travel often, these will come in plenty handy. A long charging cable for her phone Native Union Lightning Native Union Night Cable, available at Amazon, $24.95USB-C Native Union Night Cable, available at Amazon, $34.99One of the most frustrating things is losing your only charging cable for your phone. Everyone can use an extra charging cable, and having a long one like Native Union's Night Cable is a great idea. The cable is 10-feet long, so Mom won't have to struggle with a short cable anymore. It also has a weighted knot that can be moved up and down the cable to provide enough ballast to keep the cable and the phone it's charging in place. An excellent ebook reader Guillermo Garszon/Business Insider Amazon Kindle E-reader, available at Amazon, $89.99If the mother in your life is a diehard bookworm, then they might appreciate going digital – especially if their bookcase is starting to bow from the weight of their growing collection. The latest Kindle is also ideal for the mothers out there that commute or travel a lot, saving lots of space The base-level model is the best Kindle e-reader for buyers on a budget. We find the ad-supported version ($89.99) to be not as intrusive with the ads as it may seem. Of course, the Kindle can hold thousands of ebooks, and now features a front light. A wireless photo printer for making instant memories Amazon HP Sprocket Portable 2 x 3-inch Instant Photo Printer, available at Amazon, $127.99Does the mom in your life miss the old days of Polaroids at the party? Bring back those memories and help them make some new ones with a wireless photo printer to print selfies and other shots from their smartphone.The Sprocket from HP prints 2 x 3-inch photos using Zink technology contained in each film print to bring out the picture's color. Sprocket can print photos in portrait or landscape layouts. Just note that HP's special photo paper is required to use Sprocket, which costs an additional $25 per 50 sheets. A smart baby monitor The Nanit Plus is a smart video baby monitor that offers sleep tracking and insights Hillary Grigonis/Business Insider Nanit Pro Smart Baby Monitor, available at Nanit, $299If you're shopping for a new mom, there is an endless selection of baby products you can get her and her baby. One of the most high-tech and pricey purchases for new parents is a nice video baby monitor.The now-named Nanit Pro Smart Baby Monitor (formerly known as Nanit Plus) is one of our favorites because it's a system that learns a baby's movement patterns and sleep trends and lets the parents know when things seem off. It gives Mom and Dad a nice birds-eye view of the baby in its crib, so both parents can see the baby clearly in the app. An audiobook subscription that gives back to local booksellers Libro.fm Libro.fm three-month gift subscription, available at Libro.fm, $45For the mom in your life that prefers not to read or can't seem to find the time, give them a try at audiobooks with Libro.fm. Sure, you could gift them an Audible subscription like everyone else has, but this service is considered a social purpose corporation, or SPC, which means it pursues social goals in addition to financial goals as part of its business model, even when the two may be at odds. The result is several projects designed to benefit local booksellers, which helps give peace of mind. A slim fitness tracker Fitbit Fitbit Inspire 2, available at Best Buy, $99.95If the mom in your life wants to stay fit or get fit, the Fitbit Inspire 2 tracker is a great option. It's a simple fitness-focused tracker with an easy-to-use app that makes it fun for moms to see their activity goals and workout metrics. A pair of wireless earbuds that just work Hollis Johnson/Business Insider Apple Airpods (2nd Gen), available at Target and Amazon, from $129.99The problem with most wireless headphones is that they're hard to use: Bluetooth pairing is a pain, they disconnect from the phone, or they have too many controls. Apple's AirPods are the easiest wireless earbuds to use with an iPhone, making them perfect for moms (and their tech support staff — i.e. their kids) everywhere. A nifty handbag light Amazon Wasserstein Handbag Light 1-pack, available at Amazon, $13Mom's purse is a cluttered abyss that's piled with receipts, tchotchkes, keys — you name it. Make her search easier with this motion-activated light, which can be conveniently clipped on the inside of her bag. A bluetooth shower speaker Amazon SoundBot Water Proof Bluetooth Speaker, available at Amazon, from $14.99To the family, she's super-mom — but behind the scenes, she's an enterprising singer who belts out show tunes in the shower (even with a meager vocal range). It's a fruitful endeavor that assuages her day-to-day stress.The least you can do is get her this hassle-free, waterproof speaker that's compatible with all Bluetooth devices. Post-shower, she'll feel zen enough to opt for McDonald's drive-thru over last night's leftovers; and the entire household will feel grateful.  Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 28th, 2021

How to watch the NFL without cable - Tom Brady goes up against his former team for the first time on Sunday

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. When you buy through our links, Insider may earn an affiliate commission. Learn more. The 2021 NFL season began on September 9. Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week four of the 2021 NFL season includes a highly anticipated game between the Bucs and Patriots. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. Table of Contents: Masthead StickyPremium (Monthly Plan) (small)Coach Bill Belichick and quarterback Tom Brady won six Super Bowls together in New England, but now they'll face each other as opponents for the first time when Brady's Tampa Bay Buccaneers visit the Patriots for Sunday Night Football on October 3.Sunday Night Football airs on NBC at 8:20 p.m. ET, but you can also stream it with Peacock Premium ($5/month).Week four of the 2021 NFL season also features primetime matchups between the Jaguars and Bengals, and Raiders and Chargers. Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 4 scheduleWeek four of the NFL regular season includes a Sunday Night Football matchup between the Tampa Bay Buccaneers and New England Patriots on NBC and Peacock. This week's Monday Night Football game will feature the Las Vegas Raiders and Los Angeles Chargers on ESPN.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. Byes will not start until after week four.GameDate and timeChannelJacksonville Jaguars at Cincinnati BengalsSeptember 30, 8:20 p.m. ETNFL NetworkTennessee Titans at New York JetsOctober 3, 1 p.m. ETCBSKansas Chiefs at Philadelphia EaglesOctober 3, 1 p.m. ETCBSCarolina Panthers at Dallas CowboysOctober 3, 1 p.m. ETFOXNew York Giants at New Orleans SaintsOctober 3, 1 p.m. ETFOXCleveland Browns at Minnesota VikingsOctober 3, 1 p.m. ETCBSDetroit Lions at Chicago BearsOctober 3, 1 p.m. ETFOXHouston Texans at Buffalo BillsOctober 3, 1 p.m. ETCBSIndianapolis Colts at Miami DolphinsOctober 3, 1 p.m. ETCBSWashington Football Team at Atlanta FalconsOctober 3, 1 p.m. ETFOXSeattle Seahawks at San Francisco 49ersOctober 3, 4:05 p.m. ETFOXArizona Cardinals at Los Angeles RamsOctober 3, 4:05 p.m. ETFOXPittsburgh Steelers at Green Bay PackersOctober 3, 4:25 p.m. ETCBSBaltimore Ravens at Denver BroncosOctober 3, 4:25 p.m. ETCBSTampa Bay Buccaneers at New England PatriotsOctober 3, 8:20 p.m. ETNBC, Peacock PremiumLas Vegas Raiders at Los Angeles ChargersOctober 4, 8:15 p.m. ETESPNHow to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football will broadcast on NFL Network all season long. Select Thursday Night Football games will also be shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable. HDTV Antenna Amazon You can purchase an antenna, like this 1 By One model, to add to your TV for about $24, giving you access to local channels within a certain distance. What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network. Sling TV Alyssa Powell/Business Insider If you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. TV (small) Hulu with Live TV Business Insider In addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. However, like Sling TV, there's no option to add the NFL Network or NFL RedZone as a channel, which could be a deal-breaker if you're hoping to watch and monitor action across the league.What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and some of the best NFL coverage and analysis on TV. While you don't get access to watch out-of-network games from across the country like you do with NFL RedZone or NFL Sunday Ticket, this is a comprehensive way to tune into most locally and nationally televised games. Hulu does not offer a way to watch the first three regular Thursday Night Football games, however, since those will be aired on NFL Network.  FuboTV FuboTV At $65 a month for the Starter Plan, FuboTV is one of the most comprehensive yet expensive live streaming options for NFL football. You can also spend an extra $11 per month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). FuboTV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long.  YouTube TV YouTube With a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month. NFL Sunday Ticket REUTERS/Carlo Allegri NFL Sunday Ticket used to only be available with a cable subscription, but NFL fans in non-DirecTV markets anywhere in the country can now gain access to every Sunday afternoon game.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $99 per month for four months, adding up to $396 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football.  Paramount Plus CBS If you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Essential Monthly Plan (ad-supported) (small)Premium Monthly Plan (ad-free) (small) Peacock Premium Peacock Peacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Premium (Monthly Plan) (small) Amazon Prime Video Amazon Though yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Prime Video Monthly Subscription (small)Prime Monthly Subscription (small) Yahoo Sports app and NFL app Yahoo If you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 30th, 2021

32 cool tech gifts for teens, from Bluetooth speakers to gaming controllers

Teens love tech, so we rounded up the best gadget gifts out there. From smart speakers to cameras and earbuds, there's something for everyone. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Amazon; Best Buy; Gilbert Espinoza/Business Insider We rounded up the best tech gifts for teens with something for every budget. From headphones to cameras, we have gift ideas for all interests. Shopping for someone else? Check out our best tech gifts for women and our best picks under $25. Teens are tough to shop for, but useful tech products can make great gifts for even the most difficult recipient. Whether the teen on your shopping list is into video games, photography, music, or fitness, there's a recommendation on this list for everyone. Our tech gifts also cover a variety of budgets, with some items costing less than $15.Here are the 32 best tech gifts for teens:A controller for mobile gamingAmazonRazer Kishi Mobile Game Controller for Android, available at Amazon, $55Smartphones can do it all these days, even serve as a full-on gaming device. The Razer Kishi connects to your phone through its charging port to add buttons and analog sticks for even better mobile gaming. It's a great gift for Fortnite, Genshin Impact, and other multi-platform titles — just make sure to check if they use Android or iPhone.Long, durable charging cablesAmazon10-foot iPhone Charger 5-pack, available at Amazon, $10Every iPhone owner of any age could use more charging cables. This set includes five 10-foot long cables, so your recipient can keep one in every room. Long cables like these are also super handy for when an outlet is inconveniently far away. A drawing tablet for digital art beginnersB&H PhotoWacom Intuos Creative Pen Tablet, available at B&H, $39.95Travel-sized, affordable, and versatile, this Wacom Intuos pen tablet makes a great gift for the aspiring digital artist in your life. It's suitable for both left- and right-handed users, and even comes with customizable ExpressKeys at the top. A subscription service with access to thousands of digital comic booksMarvelMarvel Unlimited, $10 a month or $70 a yearComixology Unlimited, $6 a monthIf your teen is a fan of the Marvel Cinematic Universe or superheroes in general, you can give them access to thousands of comic books with a subscription to Marvel Unlimited. The digital service offers more than 29,000 comics, spanning from the classic origin stories of characters like Spider-Man and the X-Men, to recent comic book events like "Venom: King in Black." You can access Marvel Unlimited on iPhone, Android, iPad, and your web browser, and download books for offline viewing. If your teen is a more adventurous reader, you can get them a subscription to Comixology Unlimited, an Amazon owned comic reading service that features a wider range of content, including DC Comics like "Batman" and Image Comics like "The Walking Dead." Comixology Unlimited costs $6 a month making it cheaper than Marvel Unlimited, but it offers fewer complete series. Comixology Unlimited subscribers also receive up to 15% off Marvel, DC, Image, and Dark Horse comic book purchases, making it easier to build a personal collection.A customized gaming controllerThis is just a small selection of the colors available in the Xbox Design Lab.MicrosoftXbox design Lab Custom Controller, available at Microsoft, $69.99Microsoft's Xbox controller has a classic design and is compatible with a wide range of devices, including iPhone, iPad, Android products, Mac, and PC. But people might not be aware of Microsoft's Xbox Design Lab, which lets you customize the colors on every part of the controller and add a laser engraving. The custom controller will arrive within 28 days, usually taking about two weeks.If you're worried about choosing a design for your teen, you can give them an $80 Xbox gift card and let them choose between a custom design, or just buying a new game with the store credit.A webcam perfect for streaming your own videosLogitechLogitech c920x, available at Amazon, $59.99This webcam is one of the most recommended for people getting started with YouTube videos or Twitch livestreams, and it's become even more popular with professionals working from home.While lots of laptops come with built-in cameras, the Logitech c920 offers better video quality with resolutions up to 1080p, a wide viewing angle, streaming at 60 frames per second at 720p, and an adjustable base that can be easily attached to tripods and other stands.A streaming subscription for music loversAn Android smartphone with the Spotify Music logo visible on screen, alongside a pair of earphones.Olly Curtis/Future via Getty ImagesSpotify Premium Subscription, available at Spotify, $9.99 a monthTeens love listening to music, and streaming services offer unlimited access to their favorite tunes. Spotify offers a huge music library and is compatible with Apple, Android, and Windows devices.  The premium subscription gets rid of ads, allows  your teen  to download songs for offline listening, and lets them skip songs as they please. Plans start at $10 per month and are a great way to satisfy the music lover in your family.Wireless earbuds that easily pair with an iPhoneCrystal Cox/Business InsiderApple AirPods Pro,  available at Amazon, $189.99Apple's AirPods Pro offer a great way for your teen to listen to music, take calls, and tune out the world. These true wireless earbuds feature seamless pairing with Apple devices, active noise cancellation, and a transparency mode so they can still hear you when you remind them to do their homework. They come with three sizes of removable eartips for a perfect fit, and boast up to 24 hours of listening time with multiple charges in the included wireless charging case.A subscription that's like Netflix for video gamesMicrosoftXbox Game Pass Ultimate, $44.99 for 3 months Playstation Plus Subscription, $24.99 for 3 monthsWhy buy just one game when you can get dozens? That's the premise behind Xbox Game Pass Ultimate, Microsoft's Netflix-style subscription gaming service.  Microsoft offers over 100 games, including blockbusters like "Grand Theft Auto V," "Destiny 2," and "FIFA 21" among many others.  Game Pass Ultimate isn't cheap – it costs around $40 for three months – but offers a tremendous value considering that one new game costs $60. For Playstation fans there's Playstation Plus, which is cheaper than Microsoft's service at $25 for three months, but offers far fewer games. Subscribers get access to a handful of titles each month that they can download and keep as long as they remain a member of the service.The service also comes with other perks like online gameplay and discounts. Which subscription you should get depends on the console your teen owns, but they'll appreciate either one.A gaming headset with audiophile-level soundAmazonSteelSeries Arctis Pro, available at Amazon, $133.06If you're going to get your PC gamer a gaming headset, you might as well invest in one that produces audiophile-level sound. That way, they can listen to music and watch movies without having to switch to a different pair of headphones.The SteelSeries Arctis Pro is a good choice for gamers who care about top-notch audio, as it comes with several input options, virtual surround sound, and a bass that can be pushed. Plus, teens will love the fact that they can customize its look with SteelSeries' range of headbands and ear cups.If you're willing to splurge, the $349.99 wireless version makes it easier for your teen to seamlessly transition between playing games on their PC and taking a call on their phone.An Instax printer to print all those selfies onAmazonFujifilm Instax Mini Link Smartphone Printer, available at Amazon, $99.99Instant cameras are so yesterday! With most teens relying on their camera phones to take photos, a mobile photo printer that lets them print all those friend selfies saved on their phone on 1.81 x 2.44 Instax film is just what the fun doctor ordered. Pair that with the photo clip fairy string lights, and you might just inspire your teen to decorate and declutter their room to make it visitor-friendly.A unique electronic musical instrument that's big in JapanAmazonOtamatone Deluxe Electronic Musical Instrument, available at Amazon, $79.99Music is one of the biggest outlets teens turn to channel their creativity and angst, and this musical synthesizer lets your budding musician create music in a fun and quirky way. Pressing the middle part of the Otamatone and sliding your fingers up and down it will produce higher and lower tones while opening and closing its mouth creates a "wah" sound. It can even connect to speakers, amps, and (preferably to the rest of your household) headphones. A 3D pen with plastic refills in 15 different colorsFacebook3Doodler Create + 3D Printing Pen, available at Amazon, $79.99Today's 3D printers may be pricey, but that doesn't mean that your artistic teen can't enjoy and master the art. With this 3D pen, they can even do so in a more analog way, stirring their creativity and allowing them to appreciate the value of working with one's hands. Plug this pen into a wall outlet, load up the plastic color, and once the pen heats the plastic, your teen is ready to create. It comes with an app with interactive step-by-step instructions on custom art projects.A smartwatch that tracks activity and fitness goalsLisa Eadicicco/Business InsiderApple Watch SE, available at Amazon, $249Your athletic or health-conscious teen will definitely appreciate the Apple Watch SE. This smartwatch can do most of the things Apple's flagship smartwatch can, while keeping things more affordable. It's still on the pricey side, but it's worth it to keep teens on the healthy, active path. As for the fun factor, your teen can customize it with different faces, bands and memojis, as well as use it to play music and stay in touch with friends via iMessage, social media apps, and phone capabilities.Bluetooth trackers that keep your teen from losing their, well, everythingTileTile Limited Edition Bluetooth trackers, available at Tile, starting at $16.99You want to be able to entrust them with important things, from necessities like house and car keys to devices that cost money like laptops. But, let's face it: teenagers are basically bigger versions of kids, and they still tend to lose their stuff. This is why Tile's Bluetooth trackers are super handy. Attach one to their keys or wallet, connect it with their phone, and that's one last question you'll have to field. With their range of Limited Edition trackers that come in several fun designs, they'll be proud to show these off to friends.If your teen owns an iPhone, you can also consider purchasing AirTags, Apple's official tracking device that works with the Find My app. They're a bit more expensive than Tile trackers at $29 each, but offer more features for iPhone users. They also come with a free engraving for personalization.A handheld gaming system with multiplayer capabilitiesNintendoNintendo Switch Lite, available at Amazon, $199If you're on a limited budget (times have been tough, after all) but want to reward your teen with a handheld gaming console, you cannot go wrong with a Nintendo Switch Lite. This pocket-friendly device may not be able to connect to the TV, but it's got a few advantages over the standard Switch beyond the price. It plays all but a few of the same games while being more portable. And, for color-loving teens, it comes in three fun shades plus gray.A PC gaming controller with wireless connectivityAmazonLogitech Gamepad F310, available at Target, $17.59This is a must-have for any teen who enjoys PC and console gaming. With the Logitech Gamepad F310, they can play their favorite Steam and other PC games from the comfort of a couch without the need for a mouse or keyboard — partly thanks to the 6-foot long cable. This will give them better control and a more seamless gaming experience during long sessions as well. If your teen hasn't experienced PC gaming from the couch, this will be a game-changer.Affordable wireless earbudsBest BuyJLab Audio JBuds Air, available at Amazon, $23.43These true wireless earbuds don't boast the same feature set as Apple's AirPods but they do have Bluetooth 5.0, quality sound, a microphone for calls, and basic water resistance. The battery lasts for six hours, and the case holds an additional 18 hours of charge, giving them comparable battery life to AirPods.A drone with high-quality video capabilitiesAmazonDJI Mini SE, available at Amazon, $299Whether you've got a future influencer or a budding content creator in the family, you've got an ace gift in this mini drone from DJI. This is an impressive drone for the price point, with a battery life of 30 minutes and a camera touting great stabilization and 2.7K Quad HD video capability. This drone even has automatic motion presets and a smooth motion mode, allowing beginner videographers such as your teen to utilize pro-level shooting techniques effortlessly. Just remember to teach them proper drone etiquette before they let their new toy fly.Winter gloves with touchscreen-capable fingertipsAmazonAchiou Winter Knit Gloves, available at Amazon, from $9.99Teens aren't going to stop using their phones just because it's freezing outside. They need to stay in touch, and a lot of the time, they'll take off their gloves so they can rub and tap on a touchscreen. With these gloves, they can protect their digits while catching up on social media. And, at this price, you might want to buy a few pairs – and in different colors, if you want – for when they inevitably lose them.A portable Bluetooth speaker with a hardshell carrying caseAmazonJBL Flip 5 Portable Speaker, available at Amazon, $129.99Teens love blasting music away, and this speaker from JBL will let them do so wherever they are — including at the beach or even while floating in the pool. To keep things portable, it boasts up to 12 hours of playtime and comes with a gSport Deluxe Hardshell Case. Best of all, it features IPX7 waterproof protection so it can go in up to three feet of water. With this, they'll have something to look forward to next summer.A power bank with enough juice to charge a phone 2 timesAmazonAnker Portable Charger, available at Amazon, $22 It's not surprising for a teen to spend all day and night draining their phone's battery, but if their phone is frequently dying while they're out, consider buying them a portable charger to provide some extra juice on the go. Anker's PowerCore Slim portable charger holds more than two full charges for the latest iPhone, and should work with any USB device. If you're willing to spend a bit more, you can buy a portable battery with wireless charging, to eliminate the need for cords.A handheld gimbal for shooting cinematic videos with friendsAmazonZhiyun Smooth 4 Handheld Smartphone Gimbal, available at Amazon, $99Whether it's for shooting TikTok content to making full-fledged YouTube videos, a handheld gimbal will let your teen produce better, smoother-looking content. But, while many options out there will set you back more than $100, this gimbal from Zhiyun costs less, which makes it the perfect gift for teens. And, while most teens seem to be naturally tech savvy, this one is especially effortless to figure out, complete with different shooting modes and pro-level shooting techniques turned automated.A beanie with headphones that pair with their phoneAmazonSoundBot SB210 Bluetooth Smart Beanie Headset, available on Amazon, $19.99We all agree – beanies are some of the comfiest accessories out there. But, this nifty one from SoundBot takes it to a new level, with built-in speakers, Bluetooth connectivity, and up to five hours of music listening. Now, your teen can stay warm and listen to music at the same time, without having to wear or carry two things at once. Best yet, it comes in several different colors, some even with poms, so you can get it in their favorite color or design.A smart light strip that changes colorsPhilipsPhilips Hue White & Color Ambiance LightStrip Plus, available at Philips-Hue, $79.99Fairy or string lights are among the top accessories teens love to decorate their rooms with, and Hue's light strip takes that to a new level with its smart light capabilities, ability to display 16 million colors, and Alexa and Google Assistant compatibility. It's terrific for sprucing up every teen's room, whether they're gamers, Bohemians, nature-lovers, or those with an eclectic taste. They can even change the colors depending on their mood, what they're into, or what they're currently doing.A subscription to the best audiobook serviceAmazonAudible Subscription, available at Amazon, $15 a monthGive teens the gift of knowledge with this audiobook subscription. This gives them an audiobook and two Audible originals each month. They will also get 30% off any other audiobooks they choose to buy, which they will own even after their subscription expires. This is an excellent solution for students who learn better by listening than reading.An alarm clock that doubles as a Bluetooth speakerAmazonAnker Soundcore Wakey Bluetooth Speakers with Alarm Clock, available at Amazon, $89.99This alarm clock is packed full of features. It pairs with your teen's phone via Bluetooth and plays audio from any of the apps, as well as FM radio or any combination of the 10 sleep-inducing ambient sounds. There are 10 different alarm sounds, and it wirelessly charges Qi-compatible devices as well.A Bluetooth speaker that teens can use in the showerAmazoniFox iF012 Bluetooth Shower Speaker, available at Amazon, $29.66Teens need to have their music everywhere at all times – that's right, even in the shower. Sure, the JBL Flip 5 mentioned above will work in the shower. For a quarter of the price, however, you can get your teen a dedicated shower speaker, one with a 33-foot range and up to 10 hours of battery life. iFox backs this with a 12-month, no-risk, money-back guarantee. What have you got to lose?A microphone that plugs into a USB portAmazonBlue Snowball iCE Condenser Microphone, available at Amazon, $40We bet you haven't considered giving your teen a microphone before. It is a bit of an unconventional gift, but one that teens will love whether they have their own Twitch or YouTube channel, or produce their own podcast. It's an outstanding plug-and-play microphone solution that delivers crystal clear audio to your recordings, all while looking cool and retro.An action camera that will record their adventuresLes Shu/InsiderGoPro Hero 10 Black, available at B&H, $429.99Teens, especially active and adventurous ones, are always up to something new and exciting, whether it's taking an electric skateboard out for a spin or taking on the latest TikTok trends. And, a GoPro action camera will let them record those exploits with friends hands-free. This latest one is obviously the best with 5.3K Ultra HD recording, 23MP still images, and improved HyperSmooth stabilization.A smart speaker that helps keep them organizedAmazonEcho Dot (4th Gen), available at Amazon, $34.99 With the help of Alexa, this mini smart speaker is capable of doing a host of things, from playing your teen's favorite tunes on Spotify or Amazon Music to controlling other smart devices and setting reminders and schedules hands-free. It'll even tell jokes and play trivia games. Teens have a lot going on in their lives, and this gadget is among the best tools they can use to stay organized.A laptop with great durability and battery lifeAppleApple MacBook Air with Apple M1 Chip, available at Amazon, $949If you're looking to splurge on your kid, then the latest MacBook Air will go a long way. This thin and light 13-inch comes with 8GB RAM and 256GB SSD storage, as well as Apple's M1 chip, should get them through daily homework, projects and papers, while letting them play games and enjoy some streaming post-school work. And, since Apple's laptops are practically built like a tank, you'll have the peace of mind that it'll survive some beatings.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Political potholes await Buttigieg as he starts a new year implementing Biden"s infrastructure law

Pete Buttigieg will be delivering hundreds of billions of dollars in grant money for roads, bridges, ports, and tunnels. Sounds easy? It's not. Transportation Secretary Pete Buttigieg joined President Biden and other officials during the White House signing ceremony for the bipartisan infrastructure law.Drew Angerer/Getty Images Transportation Secretary Pete Buttigieg enjoyed his best political year in 2021. Experts say 2022 will be harder for Buttigieg to navigate as he implements the infrastructure law. If Republicans win back the House, he could get buried in document requests and scandals. When he visited the White House in November for the signing of the bipartisan infrastructure law on the South Lawn, former Transportation Secretary Ray LaHood huddled with the current occupant of his old Cabinet agency.But amid the celebratory atmosphere and some 800 guests, LaHood had advice—and a warning—for Pete Buttigieg that laid bare the stakes of this political moment for the former 2020 presidential contender."Pete, you got to be the decider," LaHood told him, referencing the hundreds of billions of dollars in grant money that Buttigieg will soon be delivering around the country for big projects like roads, bridges, ports, and tunnels. "Take all the recommendations you want, but in the end, you have to make the decision on every one of these grant programs and projects, because if they're going to be successful, President Biden will get the credit. If they're not successful, you're going to get the criticism."  History is replete with examples of Cabinet officials getting caught in the bureaucratic muck and seeing their career paths go haywire because of it: former Secretary of State Hillary Clinton, for example, spent much of her 2016 presidential campaign answering for her time in the Obama administration. That's why LaHood was talking to Buttigieg and suggesting he assemble a task force within his department of political and career staffers, as well as an infrastructure coordinator, that can be his eyes and ears for any potential obstacles. Buttigieg knows he'll be held to a high standard, and appears to have taken the advice to heart. Even before the law's passage, he held an internal DOT town hall focusing on implementation. In the weeks following, he would act on most if not all of LaHood's suggestions, setting up a DOT working group while partnering with another former mayor—Mitch Landrieu of New Orleans—who is serving as Biden's senior adviser and infrastructure coordinator. In the post, the White House said, Landrieu would "oversee the most significant and comprehensive investments in American infrastructure in generations." (Landrieu and Buttigieg have been allies; the fellow former mayor endorsed Buttigieg's unsuccessful 2017 bid to become chairman of the Democratic National Committee; the White House declined to make Landrieu available for an interview.) But Buttigieg is also well aware of the political stakes he's facing at the moment. "He knows he's very vulnerable over the next year," a person close to Buttigieg told Insider. Buttigieg got off to a fast start in 2021By almost any measure, 2021 was a banner year for Buttigieg. In February, Biden's former 2020 Democratic primary rival had become the first openly gay Cabinet secretary to be Senate-confirmed. At the apogee of his still-young political career, Buttigieg, who turns 40 on January 19, has ensconced himself as one of the most visible members of the administration, racking up appearances on cable news, Sunday shows, and even late-night television. He's also saturating local media markets through his travels to red states and blue states. He's built bipartisan relationships with members of Congress via some 300 calls to secure the bipartisan infrastructure law's passage, according to his office. He's jet-setted to Glasgow for COP26, the United Nations climate summit, posing with former President Barack Obama. Buttigieg even enjoyed the global release of an Amazon documentary chronicling his 2020 presidential campaign. And the supply chain crisis some expected to delay Christmas gifts never quite materialized. Buttigieg in mid-December toured the Georgia Ports Authority's Garden City Terminal in Savannah, Georgia. The supply chain crisis has largely not prevented Christmas gifts from arriving on time, though Buttigieg has said this is not a "mission accomplished" moment.Drew Angerer/Getty ImagesEven at the mercy of the most partisan members of the GOP, Buttigieg's Midwestern demeanor and McKinsey-honed competency haven't attracted the kind of heat-seeking GOP missiles elicited by other Cabinet secretaries. In October, a Punchbowl News analysis showed that only one Congressional Republican had called for his resignation, fewer than any other Biden Cabinet member. However rosy 2021 proved to be for Buttigieg, 2022 could prove a bumpier road for the Rhodes Scholar, as his day job turns from selling the infrastructure bill to steering its implementation. With $550 billion in new infrastructure spending about to go out the door, Buttigieg faces a series of potential political pitfalls in the coming months—including learning how to say "no" to projects that don't make the cut, according to experts in both congressional oversight and transportation policy. In many ways, Buttigieg's political career is just beginning. But the coming years could test his mettle more than the crucible of a 2020 presidential campaign ever did.Buttigieg's political exposureFollowing the infrastructure law's passage, Buttigieg finds himself as a possible target of both the right and the left. Democrats—particularly those in the party's progressive wing—may quibble with some of Buttigieg's moves, said Beth Osborne, a former Obama-era DOT hand and one of Buttigieg's former presidential campaign advisers. She told Insider she's disappointed in the infrastructure legislation that finally passed, based on its delivered-versus-promised impact on climate change and Black citizens of historically divided communities. "He does have a very hard job because he's made promises," said Osborne, director of Transportation for America, an advocacy group for more equitable transportation policies, who last spoke with Buttigieg by phone in February after his Senate confirmation. (Through a round of grants issued to projects to two dozen states in June, Buttigieg's DOT considered climate change and racial equity in their analysis of each project's merit). Osborne added: "I think he needs to be careful about the promises he's making when he's dependent on people who might not have the same priorities he has." That's because much of the law's provisions around reconnecting communities historically divided by highways or railways allow states discretion on how to spend it — something not likely to happen in red America. Take remarks by Republican Florida Gov. Ron DeSantis, a potential presidential candidate in 2024, for instance.Transportation Secretary Pete Buttigieg and Arizona Sens. Mark Kelly and Kyrsten Sinema listen during a November roundtable about infrastructure and supply chain problems at Mesa Community College in Mesa, Arizona.AP Photo/Jonathan J. CooperIn November, DeSantis derided Buttigieg's talk of using infrastructure to help end systemic racism. "I heard some stuff, some weird stuff from the Secretary of Transportation trying to make this about social issues," DeSantis said. "To me, a road's a road." Ahead of 2024, rejecting such moves from Buttigieg's DOT appears poised to become a litmus test for any GOP presidential candidates who serve now as governors, as accepting Medicare expansion did for 2016 Republicans.GOP oversight coming soon?Buttigieg also needs to be mindful of Capitol Hill and the prospect that Republicans could be wielding subpoena power and the ability to drive the investigative agenda should they win back control of the House or Senate in November.Recent history suggests he has reason to be concerned. Several experts pointed to the Obama-era Solyndra scandal, which saw the FBI launch a criminal investigation of the California manufacturer of solar cells that had connections to an Obama donor. The company filed for bankruptcy in 2011 despite receiving $528 million in government-backed loan guarantees via the 2009 American Recovery and Reinvestment Act. While its downfall was the byproduct of rapidly-changing global market conditions for renewable energy products, Solyndra nonetheless exposed the previous Democratic administration to oversight-hungry Republicans who held countless hearings aimed at embarrassing the president and some of his most prominent Cabinet members. If Republicans take back the House in November, they are likely to ramp up oversight on Buttigieg much the same way their predecessors did with Obama and Solyndra. In a statement to Insider, House Oversight Committee ranking member James Comer said Republicans plan to keep close watch over the infrastructure law's implementation, even as they're in the minority. House Minority Leader Kevin McCarthy is also telegraphing that GOPers will take a tougher approach on oversight should they win the majority, having already sent the Biden administration preservation requests for documents related to the chaotic Afghanistan withdrawal. Such actions remain little more than talking points unless House Republicans control the chamber and have subpoena power. A DOT spokesperson said the agency isn't tracking any preservation notices—legal requests to keep documents that may later lead to oversight investigations—at this time.  "It is unclear how these taxpayer dollars will be used, and as we have seen in the past with debacles like Solyndra, there is plenty of room for waste, fraud, abuse, and mismanagement," Comer told Insider. Solyndra was written off in many quarters at the time as a manufactured scandal. But it still drew blood, putting the Obama White House on the defensive and creating a literal campaign backdrop for Mitt Romney and Republicans to use in their ultimately unsuccessful bid to stop Obama's second term. Most relevant for Buttigieg, Solyndra also tarnished the reputation of Steven Chu, the Nobel Prize-winning physicist who was one of the celebrity members of the Democratic president's Cabinet as the secretary of energy. In the same way the 2009 Recovery Act put Chu's Energy Department at the center of its plans to overhaul the economy, more than half of the bipartisan infrastructure law falls under the aegis of DOT. And Democratic and Republican veterans of political battles around the implementation of Obama's Recovery Act—the most analogous cash infusion into public projects to the infrastructure law—paint a picture of a perilous path ahead for Buttigieg, particularly if Republicans take back the House amid the 2022 midterm elections. "He basically has now until the fall campaign season to go out there and get the nice and easy press," a veteran of the Obama administration's efforts to promote and defend the Recovery Act told Insider. "And then the waters are going to get a lot rougher."Mitt Romney in May 2012 held a news conference outside the shuttered Solyndra solar power company's manufacturing facility in Fremont, California.Justin Sullivan/Getty ImagesDOT staffing up by the hundredsThere's a big incentive for GOP lawmakers to score political points at Buttigieg's expense and try to sully his future political prospects in the long term, said Kurt Bardella, who handled press for Rep. Darrell Issa when he chaired the House Oversight Committee and led one of two big GOP congressional investigations into Solyndra. To prepare, Buttigieg seems to have followed LaHood's advice down to the letter. The administration and the DOT have been staffing up. Working with Landrieu will be Katie Thomson, Amazon's former vice president and associate general counsel for worldwide transportation and sustainability. In the new year, she will return to DOT as director of the bipartisan infrastructure law implementation."She understands transportation. She understands people," said a DOT veteran who worked with her during the Obama administration when she served as the department's general counsel under LaHood. A DOT spokesperson told Insider there are plans to hire hundreds of additional staffers to implement the law. According to the DOT spokesperson, Buttigieg also joins weekly calls with Landrieu and his Infrastructure Implementation Task Force. Buttigieg recently invited Landrieu to join a DOT staff call to discuss next steps and take questions from political appointee staff about implementation, the spokesperson said. And the secretary established an internal working group that meets weekly. Ultimately, Buttigieg is the one who will become the decider on infrastructure projects nationwide. And that puts Republicans in position to comb through every aspect of the various projects' backgrounds for threads on which to pull and cause problems for one of the most well known members of the Biden Cabinet. "The Republican effort will be merciless and repetitive because they see him as a threat," Bardella said. "They see him as someone that they need to attack and that puts some dents in his armor because they see him as a potential and future adversary. It will be a hyper-political and partisan effort, and it will be a relentless smear campaign designed to try to injure the political future of the secretary." The Democratic strategist who helped guide the Obama administration through Solyndra said it's almost impossible for Buttigieg and his team to prepare for the storm that's coming.Every single day for a year-and-a-half, a reporter from a Washington newspaper would email him at 3:30 p.m. with a new trove of documents among millions selectively released by the Republican Solyndra investigators, he recalled. The reporter wanted a reaction for a story that was going to run by 4:30 p.m, acknowledging that he still has "nightmares about the daily routine." "I don't know that he or the people around him are really prepared for that level of oversight or scrutiny," the Obama veteran of Solyndra said. "That's not even a knock on him. There's no way you could be, having lived through it."What's more, the Democratic strategist said, Landrieu may not fully insulate Buttigieg from all the blowback in an investigation. "What's gonna end up happening is that you're going to have a big push to spend the money," he said. "And then at that point, once the money is out the door, Mitch Landrieu's portfolio will either evolve or move, or he'll be less front and center. The folks who are gonna be left behind are the heads of the agencies that are implementing and overseeing these grants. So when they find the inevitable scandal, because there will be one—manufactured or not— Mitch will probably be gone. It will be on Pete or whichever agency is in the crossfire, but most likely Transportation."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 3rd, 2022

How to watch the NFL without cable — the 2021 season nears it end with 2 games on Christmas Day

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.You can watch the NFL on various live TV streaming services.Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week 16 of the 2021 NFL season includes two games scheduled for Christmas Day. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. With the 2021 NFL season nearing its end, the league will play two games on December 25.The Cleveland Browns will visit the Green Bay Packers after losing to the Raiders on Monday; Cleveland was missing 10 starters and head coach Kevin Stefanski during that game, which was postponed for two days.Multiple Cleveland players remain in COVID-19 protocols, but the Browns expect starting quarterback Baker Mayfield and wide receiver Jarvis Landry to return for the Packers game. The Packers have the league's best record and are the only team with a guaranteed playoff berth entering this weekend. The game will be on Fox, Amazon Prime Video, and the NFL Network at 4:30 p.m. ET.The second Christmas game features the Indianapolis Colts playing the Arizona Cardinals at 8:15 p.m. ET on the NFL Network. Arizona has lost its last two games but remains tied for the best record in the NFC West, while the Colts are looking to secure a playoff spot in the competitive AFC Wild Card race.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 16 scheduleWeek 16 of the NFL regular season begins with a Thursday Night Football matchup between the San Francisco 49ers and Tennessee Titans on NFL Network.This week's Sunday Night Football game will include the Washington Football Team and the Dallas Cowboys. Monday Night Football features the Miami Dolphins visiting the New Orleans Saints.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. GameDate and timeChannelKansas City Chiefs at Los Angeles ChargersDecember 23, 8:20 p.m. ETNFL NetworkCleveland Browns at Green Bay PackersDecember 25, 4:30 p.m. ETFox, NFL Network, Amazon PrimeIndianapolis Colts at Arizona CardinalsDecember 25, 8:15 p.m. ETNFL NetworkNew York Giants at Philadelphia EaglesDecember 26, 1 p.m. ETFoxLos Angeles Rams at Minnesota VikingsDecember 26, 1 p.m. ETFoxBuffalo Bills at New England PatriotsDecember 26, 1 p.m. ETCBSTampa Bay Buccaneers at Carolina PanthersDecember 26, 1 p.m. ETFoxJacksonville Jaguars at New York JetsDecember 26, 1 p.m. ETCBSDetroit Lions at Atlanta FalconsDecember 26, 1 p.m. ETFoxLos Angeles Chargers at Houston TexansDecember 26, 1 p.m. ETCBSBaltimore Ravens at Cincinnati BengalsDecember 26, 1 p.m. ETCBSChicago Bears at Seattle SeahawksDecember 26, 4:05 p.m. ETFoxPittsburgh Steelers at Kansas City ChiefsDecember 26, 4:25 p.m. ETCBSDenver Broncos at Las Vegas RaidersDecember 26, 4:25 p.m. ETCBSWashington Football Team at Dallas CowboysDecember 26, 8:20 p.m. ETNBC, PeacockMiami Dolphins at New Orleans SaintsDecember 27, 8:15 p.m. ETESPNHow to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable.HDTV AntennaBen Blanchet/InsiderYou can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.Channel Master FLATenna 35 Duo$25.00 FROM WALMART$10.00 FROM CHANNEL MASTERSling TVAlyssa Powell/Business InsiderIf you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. Sling TV $10.00 FROM SLINGOriginally $35.00 | Save 71%Hulu with Live TVBusiness InsiderIn addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. Hulu + Live TV$69.98 FROM HULUFubo TVFuboTVAt $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. Fubo TV (Starter Plan)$64.98 FROM FUBOTVYouTube TVYouTubeWith a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.Youtube TV$54.99 FROM YOUTUBEOriginally $64.98 | Save 15%NFL Sunday TicketREUTERS/Carlo AllegriNFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football. DirecTV NFL Sunday Ticket$73.48 FROM DIRECTVParamount PlusCBSIf you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Paramount Plus Essential Monthly Plan (ad-supported)$4.99 FROM PARAMOUNTParamount Plus Premium Monthly Plan (ad-free)$9.99 FROM PARAMOUNTPeacock PremiumPeacockPeacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Peacock Premium (Monthly Plan)$4.99 FROM PEACOCK TVAmazon Prime VideoAmazonThough yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Amazon Prime Video Monthly Subscription$8.99 FROM AMAZON PRIME VIDEOAmazon Prime Monthly Subscription$12.99 FROM AMAZONYahoo Sports app and NFL appYahooIf you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 23rd, 2021

YouTube star Jake Paul faces former UFC fighter Tyron Woodley in a boxing rematch on December 18 — here"s how to watch live

The Paul vs. Woodley event also includes a women's lightweight fight, and a match between former pro athletes Frank Gore and Deron Williams. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Jake Paul and Tyron Woodley facing off before their first fight earlier this year.Katelyn Mulcahy / Getty Images Jake Paul and Tyron Woodley will face off in a boxing rematch during a December 18 pay-per-view event. Former pro athletes Frank Gore and Deron Williams will fight on the undercard. Showtime will broadcast the $60 pay-per-view starting at 9 p.m. ET. Paul vs. Woodley II Showtime PPV$59.99 FROM SHOWTIMEJake Paul and Tyron Woodley will box for the second time this year during a $60 pay-per-view (PPV) event on December 18 in Tampa, Florida. Paul defeated Woodley by split decision in August, bringing his career boxing record to 4-0. The fight was Woodley's professional boxing debut after more than 25 fights as a mixed martial artist.Paul's next opponent was intended to be Tommy Fury, the half brother of heavyweight champion boxer Tyson Fury. However, Fury suffered a broken rib and chest infection in the lead-up to the match. Woodley was then booked to take Fury's place. Woodley told ESPN he was already preparing for a potential match in January.The undercard for Paul vs. Woodley II will include the professional boxing debuts of former NBA all-star Deron Williams and future NFL hall of famer Frank Gore. The two former pro athletes are 37- and 38-years-old, respectively. Amanda Serrano, the undisputed world champion of the women's featherweight division, will go up against Miriam Gutierrez in a lightweight match.How to watch Paul vs. Woodley IIYou can watch Paul vs. Woodley II on December 18 at 9 p.m. ET. The fight is a $60 Showtime pay-per-view event.You can purchase the pay-per-view at Showtime.com to watch online or via the Showtime app, or order it through your cable provider. A subscription to the Showtime cable network is not required to buy and watch the PPV.Paul vs. Woodley II Showtime PPV$59.99 FROM SHOWTIMEThe Showtime app is available on Apple and Android devices, Roku, Amazon Fire TV, Xbox, and most smart TVs.Paul vs. Woodley II fight cardDeron Williams versus Frank Gore, heavyweightLiam Paro versus Yomar Alamo, junior welterweightAmanda Serrano versus Miriam Gutierrez, women's lightweightJake Paul versus Tyron Woodley, cruiserweightRead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 17th, 2021

"Santa Rally Is Finally Here": Futures Hit All Time High Day After Powell Goes Full Jean-Claude Trichet

"Santa Rally Is Finally Here": Futures Hit All Time High Day After Powell Goes Full Jean-Claude Trichet One day before what everyone knew would be a hawkish pivot by the Fed, the mood was dour with tech names tumbling and futures hanging one for dear life. One day after, Jerome Powell confirmed he would go full Jean-Claude Trichet as the Fed would not only turbo-taper into a sharply slowing economy, ending its QE program by March but then proceed with hiking rates as many as 3 times in 2022 (more than the 2 hike consensus), with the BOE shocking markets moments ago with a surprise rate hike and even the ECB trimming its turbo QE, and futures are.... at all time highs. That's right - eminis are higher by 140 points in 24 hours because the Fed was more hawkish than consensus expected.  At 8:00 a.m. ET, Dow e-minis were up 215 points, or 0.61%, S&P 500 e-minis were up 27.25 points, or 0.57%, and Nasdaq 100 e-minis were up 100 points, or 0.61%. Treasury yields jumped alongside European bonds after the BOE became the first major central bank to raise rates since the pandemic, while the dollar fell and the pound jumped. The Euro also hit session highs after the ECB seemed to turn ever so slightly more hawkish as its monthly QE is set to shrink in the coming year. "The market likes facts it can digest. With the uncertainty now gone, it finds relief,” said Frederik Hildner, a portfolio manager at Salm-Salm & Partner. Gradual rising rates “provides more firepower for the next downturn, as it displays the ability normalize monetary policy.” On Wednesday, Jerome Powell said the U.S. economy no longer needed increasing amounts of policy support as annual inflation has been running at more than double the central bank's target in recent months, while the economy nears full employment. Recent readings on surging producer and consumer prices as well as the fast-spreading Omicron variant of the coronavirus have fueled anxiety as the benchmark S&P 500 inches closer to a record high. "Is the Santa Rally finally here? Markets certainly seem to have a spring in their step... the prospect of three interest rate hikes in 2022 would suggest the central bank has a clear plan to not let inflation get out of control," Russ Mould, investment director at AJ Bell wrote in a client note. "Equally, it isn't being too aggressive to trip up the economy. This sense of balance is exactly what investors want, and an upbeat tone from the Fed certainly seems to have rubbed off on markets" Bell said, clearly goalseeking his narrative to the market's response as just 24 hours later he would be saying just the opposite when futures were tanking of hawkish Fed fears. Big tech stocks and banks led gains in premarket trading. Shares in Tesla, Microsoft, Meta and Amazon.com rose between 0.7% and 2.4%, with the lift pushing Apple shares nearer to an historic market value of $3 trillion. Bank stocks including JPMorgan, Morgan Stanley, Bank of America, Wells Fargo and Citigroup all gained between 0.7% and 0.8%. Here are some of the biggest U.S. movers today: Apple (APPL) and other big U.S. tech stocks rise after the Federal Reserve said that it would speed up its taper, joining in with a broader relief rally across risk assets. Apple shares are up 0.6%, with the stock drawing nearer to an historic market capitalization of $3 trillion. Also Thursday, Goldman Sachs said lead times for Apple’s iPhone have declined in the latest week. Assertio (ASRT US) shares rise 4% after the company announced the $44 million acquisition of the Otrexup device from Antares Pharma. Blue Bird (BLBD US) dropped 6% after the school bus-maker provided a weaker-than-expected sales outlook. The company also offered $75m shares at $16/share in a private placement. Danimer Scientific (DNMR) falls 10% after announcing that it plans to offer $175 million of convertible senior notes. Delta Air Lines (DAL) is up 2% after saying it expects to report a profit for the fourth quarter, citing a strong demand for travel over the winter holiday period and a decline in jet fuel prices. Other airline stocks are also higher. DocuSign (DOCU) falls 2% as Morgan Stanley issued a downgrade, saying third-quarter results changed the firm’s view regarding the durability of growth through tough post-pandemic comparables. Freyr Battery (FREY) gains 14% after executing its inaugural offtake agreement for at least 31 GWh of low-carbon battery cells. IronNet (IRNT US) slumps 25% after the cybersecurity company’s results fell short of expectations, prompting a Street-low target from Jefferies. Lennar Corp. (LEN US) declined 6% after it reported a forecast for purchase contracts that was weaker than expected. Plug Power (PLUG) gains 5% after signing an agreement with Korean electric-vehicle manufacturer Edison Motors to develop an electric city bus powered by hydrogen fuel cells. Syndax Pharmaceuticals (SNDX) falls 8% after pricing 3.2 million shares at $17.50 each. Tesla (TSLA) is up 2%, rising with other electric vehicle stocks amid a broader gain in technology stocks and U.S. futures on hopes that the Federal Reserve’s policy tightening will fight high inflation without hampering economic growth. Wayfair (W) falls 2% after BofA downgraded the stock to underperform, citing weak near-term data and difficult comparisons through the first quarter of 2022 for the online furniture retailer. European equities rally with Euro Stoxx 50 up as much as 2.1% before drifting off best levels. The U.K.’s exporter-heavy FTSE 100 Index pared some gains after the BOE decision, while European dipped modestly after the European Central Bank’s meeting.  Miners, tech and autos are the best performers, utilities and media names lag. Equities have whipsawed in recent weeks as investors attempted to price in the prospect of rate hikes, while assessing risks from the spread of the omicron variant. The market’s early response to the Fed signals some relief arising from policy clarity, and optimism that the rebound from pandemic lows can weather the pivot away from ultra-loose monetary settings. “The market is breathing a sigh of relief that the FOMC meeting suggested that it is taking inflation risks in the United States more seriously,” Ann-Katrin Petersen, an investment strategist at Allianz Global Investors, said in an interview with Bloomberg TV. “The question really will be whether the Fed will dare to do even more in order to taper the inflation risk.” Asian stocks rose, halting a four-day slide, as confidence in Federal Reserve policy allowed investors to take on riskier assets. The MSCI Asia Pacific Index climbed as much as 0.8%, buoyed by energy and technology shares. Japan was Asia’s top performer, aided by a weaker yen. Hong Kong and China stocks eked out gains amid ongoing concern over U.S. sanctions. Australian equities declined for a third day. Asia’s benchmark advanced for the first time this week on hopes the Fed will effectively combat surging prices without choking off economic growth. The U.S. central bank said it will double the pace of its asset tapering program to $30 billion a month and projected three interest-rate increases in 2022. In the run-up to the Fed’s decision, Asia’s equity gauge slumped almost 2% over the past four days, keeping it below the 50-day moving average.    The short-term boost to stock market sentiment is from Fed Chair Jerome Powell’s comments about wage inflation not being the main issue for now, and expectations that there’ll be full employment next year, said Ilya Spivak, head of Greater Asia at DailyFX. However, there’s a “meaningful risk” that the Fed’s latest policy stance will trigger liquidation as Asia stock portfolios are de-risked, Spivak said. Japan’s stocks rose for a second day after the yen weakened and U.S. stocks rallied amid speculation the Federal Reserve will combat surging prices without choking off economic growth. The Topix index climbed 1.5% to close at 2,013.08 in Tokyo, while the Nikkei 225 Stock Average advanced 2.1% to 29,066.32. Keyence Corp. contributed the most to the Topix’s gain, increasing 2.5%. Out of 2,181 shares in the index, 1,674 rose and 421 fell, while 86 were unchanged. “It wouldn’t be strange to see the discount on Japanese equities narrowing following the FOMC meeting results, with market interest centered around electronics, machinery, automakers and marine transportation stocks,” said Takashi Ito, an equity market strategist at Nomura Securities. Electronics firms and automakers helped lift the Topix as the yen headed for a four-day slump against the dollar, with the currency falling 0.1% to 114.19 Australia's S&P/ASX 200 index fell 0.4% to close at 7,295.70, extending its losing streak to a third day.  CSL was the worst performer after the benchmark’s second-biggest company by weighting completed a placement to fund its Vifor acquisition. Mesoblast was the top performer after saying it plans to conduct an additional U.S. Phase 3 trial of rexlemestrocel-L in patients with chronic low back pain.  Investors also digested November jobs data. Australian employment soared last month, smashing expectations and pushing the jobless rate lower as virus restrictions eased on the east coast. In New Zealand, the S&P/NZX 50 index fell 0.7% to 12,777.54 In rates, cash USTs bull steepened, bolstered by a large curve steepener that blocked in early London. Bunds are soft at the back end, peripherals slightly wider ahead of today’s ECB meeting. Gilts bear steepen slightly, white pack sonia futures are lower by 2-3.5 ticks. In FX, the dollar slipped for a second day and oil rose; cable snapped to best levels of the week after the BOE unexpectedly hiked rates.  The Bloomberg Dollar Spot Index fell for a second day as the greenback weakened against all its Group-of-10 peers apart from the yen; Tresury yields fell, led by the belly of the curve. Commodity currencies were the best G-10 performers, led by the krone, which reversed an earlier loss after Norway’s central bank raised its interest rate for the second time this year and flagged another increase in March as officials acted to cool the rebounding economy despite renewed coronavirus concerns. The Australian and New Zealand dollars reversed earlier losses amid upbeat stock markets; the Aussie earlier weakened as RBA Governor Lowe hinted at the prospect of no rate hikes next year. The yen fell as the Federal Reserve’s decision reaffirmed yield differentials ahead of the Bank of Japan’s outcome on Friday. Bonds rose after a solid auction. Elsewhere in FX, NOK outperforms in G-10 after Norges Bank rate action, other commodity currencies are similarly well bid. In commodities, Crude futures hold a narrow range around best levels of the session. WTI is up 1.1% near $71.70, Brent near $74.70. Spot gold grinds higher, adding ~$9 near $1,786/oz. LME copper outperforms in a well-bid base metals complex To the day ahead now, and the main highlights will be the aforementioned policy decisions from the ECB and the BoE. On the data side, we’ll also get the flash PMIs for December from around the world, the Euro Area trade balance for October, and in the US there’s November data on industrial production, housing starts and building permits, as well as the weekly initial jobless claims. Finally, EU leaders will be meeting for a summit in Brussels. Market Snapshot S&P 500 futures up 0.5% to 4,734.25 STOXX Europe 600 up 1.2% to 476.39 MXAP up 0.8% to 193.11 MXAPJ up 0.5% to 623.76 Nikkei up 2.1% to 29,066.32 Topix up 1.5% to 2,013.08 Hang Seng Index up 0.2% to 23,475.50 Shanghai Composite up 0.8% to 3,675.02 Sensex up 0.1% to 57,851.57 Australia S&P/ASX 200 down 0.4% to 7,295.66 Kospi up 0.6% to 3,006.41 Brent Futures up 1.0% to $74.59/bbl Gold spot up 0.5% to $1,786.03 U.S. Dollar Index down 0.36% to 96.16 German 10Y yield little changed at -0.36% Euro up 0.2% to $1.1316 Top Overnight News from Bloomberg The greenback is set for its biggest annual gain in six years and its rally appears to be far from over, market participants say. The prime mover: a hawkish Federal Reserve that’s drawn a roadmap of interest-rate increases over the next three years, while other central banks look much more reticent to withdraw stimulus The ECB is poised to unveil a gradual withdrawal from extraordinary pandemic stimulus in the face of soaring inflation whose path is further clouded by the omicron coronavirus variant The “phenomenal pace” at which the new Covid-19 omicron strain is spreading across the U.K. will trigger a surge in hospital admissions over the holiday period, according to Boris Johnson’s top medical adviser The Swiss National Bank kept both the deposit and the policy rate at -0.75%, as widely predicted by economists. With the global economic recovery on shaky footing due to the omicron variant, President Thomas Jordan and fellow policy makers also reiterated their pledge to supplement subzero rates with currency interventions as needed France will impose tougher rules on people traveling from the U.K., including a ban on non-essential trips and a requirement to self-isolate, as it tries to slow the spread of the omicron variant IHS Markit said its index tracking output across the U.K. economy fell to 53.2 this month from 57.6 in November, reflecting weaker-than-expected growth in service industries including hotels, restaurants and travel-related businesses. Business-to-business services stalled European power prices soared to records after Electricite de France SA said that two nuclear reactors will stop unexpectedly and two will have prolonged halts -- just as the continent heads for a cold snap with already depleted gas inventories Hungary’s central bank increased the effective base interest rate for the fifth time in as many weeks to tackle the fastest inflation since 2007 and shore up the battered forint A more detailed look at global markets courtesy of Newsquawk Asian equity markets traded mixed as the region digested the FOMC meeting. The ASX 200 (-0.4%) was negative with heavy losses in the healthcare sector and as COVID infections remained rampant. There were also notable comments from RBA Governor Lowe that the board discussed tapering bond purchases in February and ending it in May or could even end purchases in February if economic progress is better than expected, although it is also open to reviewing bond buying again in May if the data disappoints. The Nikkei 225 (+2.1%) outperformed and reclaimed the 29k level after the Lower House recently passed the record extra budget stimulus and with the latest trade data showing double-digit percentage surges in Imports and Exports, despite the latter slightly missing on expectations. The Hang Seng (+0.2%) and Shanghai Comp. (+0.8%) were varied with Hong Kong pressured by losses in the big tech names amid ongoing frictions between the world’s two largest economies and as US lawmakers proposed a bill to allow the US oversight of China audits, although the mainland was kept afloat amid further speculation of a potential LPR cut this month, as well as reports that China will boost financial support for small businesses and offer more longer-term loans to manufacturers. Finally, 10yr JGBs were indecisive despite the constructive mood in Tokyo and with price action stuck near the 152.00 focal point, while demand was also sidelined amid mixed results at the 20yr JGB auction and as the BoJ kickstarts its two-day meeting. Top Asian News Indonesia Reports First Omicron Case in Jakarta Facility Asia Stocks Snap Four-Day Drop as Traders Take on Risk After Fed Shimao Group Shares Set for Best Day in Month Money Manager Vanishes With $313 Million From China Builder Equities in Europe have taken their cue from the post-FOMC rally seen across Wall Street (Euro Stoxx 50 +1.6%; Stoxx 600 +1.1%) following somewhat mixed APAC trade. As a reminder, markets saw relief with one of the major risk events out of the way, and with Chair Powell refraining from throwing hawkish curveballs. That being said, the forecast does see three rate hikes next year, whilst the Fed Board next year will also be more hawkish – at least within the rotating voters - with George, Mester and Bullard poised to vote from 2022. Nonetheless, US equity future continues grinding higher with all contracts in the green and the RTY (+1.3%) outperforming vs the NQ (+0.7%), ES (+0.6%), and YM (+0.5%). Bourses in Europe also experience broad-based gains with no real outliers, although the upside momentum somewhat waned amid some softer-than-expected PMI metrics ahead of ECB. Sectors in Europe paint a clear pro-cyclical bias. Tech outperforms following a similar sectorial performance seen on Wall Street. Basic Resources and Oil & Gas follow a close second, with Autos and Travel & Leisure also among the biggest gainers. The downside sees Personal & Household Goods, Telecoms and Food & Beverages. Healthcare meanwhile fares better than its defensive peers as Novartis (+4%) is bolstered after commencing a new USD 15bln buyback, highlighting confidence in growth and pipeline. On the flip side, EDF (-12%) shares have slipped after it narrowed FY EBITDA forecasts and highlighted some faults with some nuclear reactors amid corrosion. Top European News Britain’s Covid Resurgence Cuts Growth to Slowest Since Lockdown SNB Says Franc Is Highly Valued as Omicron Clouds Outlook Norway Delivers Rate Hike That Omicron Had Threatened to Derail Erdogan Approves Third Capital Boost for State Banks Since 2019 In FX, not much bang for the Buck fits the bill accurately as it is panning out in the FOMC aftermath even though market expectations were matched and arguably exceeded in terms of dot plots showing three hikes in 2022 vs two anticipated by most and only one previously, while the unwinding of asset purchases will occur in double quick time to end in March next year instead of June. However, there appears to be enough in the overall statement, SEP and Fed chair Powell’s post-meeting press conference to offset the initial knee-jerk spike in the Dollar and index that lifted the latter very close to its current y-t-d peak at 96.914 vs 96.938 from November 24. Indeed, the terminal rate was maintained at 2.5%, no decision has been taken about whether to take a break after tapering before tightening, and the recovery in labour market participation has been disappointing to the point that it will now take longer to return to higher levels. In response, or on further reflection, the DXY has recoiled to 96.141 and through the 21 DMA that comes in at 96.238 today. NZD/AUD/CAD/GBP/EUR/CHF - All on the rebound vs their US counterpart, with the Kiwi back on the 0.6800 handle and also encouraged by NZ GDP contracting less than feared in Q3, while the Aussie is hovering around 0.7200 in wake of a stellar jobs report only partly tempered by dovish remarks from RBA Governor Lowe who is still not in the 2022 hike camp and non-committal about ending QE next February or extending until May. Elsewhere, the Loonie has clawed back a chunk of its losses amidst recovering crude prices to regain 1.2800+ status ahead of Canadian wholesale trade that is buried between a raft of US data and survey releases, Sterling is flirting with 1.3300 in advance of the BoE that is likely to hold fire irrespective of significantly hotter than forecast UK inflation, the Euro is pivoting 1.1300 pre-ECB that is eyed for details of life after the PEPP and the Franc is somewhat mixed post-SNB that maintained rates and a highly valued assessment of the Chf with readiness to intervene as required. Note, Usd/Chf is meandering from 0.9256 to 0.9221 vs Eur/Chf more elevated within a 1.0455-30 band. JPY - The Yen is underperforming on the eve of the BoJ and looking technically weak to compound its yield and rate disadvantage after Usd/Jpy closed above a key chart level on Wednesday (at 114.03). As such, Fib resistance is now exposed at 114.38 vs the circa 114.25 high, so far, while decent option expiry interest may be influential one way or the other into the NY cut given around 1.3 bn at the 114.25 strike, 1.7 bn at 114.30 and 1.2 bn or so at 114.50. In commodities, WTI and Brent front-month futures are taking advantage of the risk appetite coupled with the softer Buck. WTI Jan trades on either side of USD 71.50/bbl (vs low USD 71.39/bbl) while Brent Feb sees itself around USD 74.50/bbl (vs low USD 74.28/bbl). Complex-specific news has again been on the quiet end, with prices working off the macro impulses for the time being, and with volumes also light heading into Christmas trade. Elsewhere spot gold and silver ebb higher – in tandem with the Dollar, with the former eyeing a group of DMAs to the upside including the 100 (1,788/oz), 21 (1,789/oz) 200 (1,794/oz) and 50 (1,796/oz). Turning to base metals, LME copper has been catapulted higher amid the risk and weaker Dollar, with prices re-testing USD 9,500/t to the upside. Meanwhile, a Chinese government consultancy has said that China's steel consumption will dip 0.7% on an annual basis in 2022 amid policies for the real estate market and uncertainties linked to COVID-19 curb demand. US event calendar 8:30am: Dec. Initial Jobless Claims, est. 200,000, prior 184,000; Continuing Claims, est. 1.94m, prior 1.99m 8:30am: Nov. Housing Starts MoM, est. 3.1%, prior -0.7% 8:30am: Nov. Housing Starts, est. 1.57m, prior 1.52m 8:30am: Nov. Building Permits MoM, est. 0.5%, prior 4.0%, revised 4.2% 8:30am: Nov. Building Permits, est. 1.66m, prior 1.65m, revised 1.65m 8:30am: Dec. Philadelphia Fed Business Outl, est. 29.6, prior 39.0 9:15am: Nov. Manufacturing (SIC) Production, est. 0.7%, prior 1.2%; Industrial Production MoM, est. 0.6%, prior 1.6% 9:45am: Dec. Markit US Manufacturing PMI, est. 58.5, prior 58.3 9:45am: Dec. Markit US Services PMI, est. 58.8, prior 58.0 DB's Jim Reid concludes the overnight wrap Yesterday’s biggest story was obviously the Fed. In line with our US economists call (their full recap here), the FOMC doubled the pace of taper to $30bn a month, which would bring an end to QE in mid-March. The new dot plot showed three rate hikes in 2022, up from the Committee being split over one hike in September. Farther out, the median dot had 3 additional hikes in 2023 and 2 hikes in 2024, bringing fed funds just below their estimate of the longer-term rate. Notably, all 18 Committee members have liftoff occurring next year, and 10 have 3 hikes penciled in, suggesting consensus behind the recent hawkish turn was strong. Short-end market pricing increased in line and now has around 2.9 hikes priced for 2022. The first hike is fully priced for the June meeting, but notably, meetings as early as March are priced as live, more on that in a bit. In the statement, the Committee admitted that inflation had exceeded target for some time (dropping ‘transitory’ completely), and that liftoff would be tied to the economy reaching full employment. By the sounds of the press conference, progress toward full employment has proceeded pretty rapidly. Chair Powell noted that while labour force participation progress has been disappointing, almost every other measure of labour market strength shows a very strong labour market, and could create upside risks to inflation should wage growth start to increase beyond productivity. It is within that context that he framed the decision to taper faster, it will leave the Fed in a position to react as needed, providing optionality. In that vein, he stressed a few times that the lag between the end of taper and liftoff need not be as long as it was in the last cycle, and that the Fed will raise rates after taper is done whenever needed, hence meetings as early as March being live. Notably on Omicron, the Chair, like the rest of us, recognises we don’t know much about the variant yet, but seemed optimistic about the economy’s ability to withstand subsequent Covid shocks, regardless of Omicron’s specifics. While Covid shocks can tighten supply chains, discourage labour participation, and reduce demand, as more people get vaccinated those impacts should dwindle over time, so his argument went. Hammering the point home, he sounded confident that the economy can handle whatever Omicron brings without any additional QE, justifying the accelerated taper path despite Covid risks. The hawkish turn had been well forecast through Fed speakers since the last meeting, not least of which the Chair himself during Congressional testimony, which served to dull the market impact. Treasury yields were slightly higher, (2yr Tsys +0.6bps and 10yr Tsys +1.5 bps) but were quite docile for an FOMC afternoon. The dollar initially strengthened on the statement release before reversing course and ending the day -0.24% lower. Stocks were the real outperformers, as the S&P 500 rallied through the FOMC events, gaining +1.63%, the best daily performance in two months, while the Nasdaq increased +2.15%. The Russell 2000 matched the S&P, gaining +1.65%. Obviously the market was anticipating the change in policy, but if doubling taper and adding three rate hikes in the next year isn’t enough to tighten financial conditions, what is? The Chair was asked about that in so many words in the press conference, where he responded by noting financial conditions could change on a dime. Indeed, they will have to tighten from historically easy levels if the Fed is to bring inflation back to target through policy. The Fed may be out of the way now, but the central bank excitement continues today as both the ECB and the BoE announce their own policy decisions later on. We’ll start with the ECB, who like the Fed have faced much higher than expected inflation lately, with the November flash estimate coming in at +4.9%, which is the highest since the formation of the single currency. Whilst Omicron has cast a shadow of uncertainty, with Commission President von der Leyen saying yesterday that it was likely to become dominant in Europe by mid-January, our European economics team doesn’t think there has been anything concrete enough to alter the ECB from their course (like the Fed). In our European economists’ preview (link here) they write the ECB appears on track to initiate a transition to a monetary policy stance based more on policy rates and rates guidance and less on liquidity provision. The ECB is set to confirm that PEPP net purchases will end in March, but will cushion the blow by working flexibility into the post-PEPP asset purchase arrangement. They are also set to make the policy framework more flexible to better respond to inflation uncertainties. One thing to keep an eye out for in particular will be the latest inflation projections, with a report from Bloomberg suggesting that they’ll show inflation beneath the 2% target in both 2023 and 2024. So if that’s true, that could offer a route to arguing against a tightening of monetary policy for the time being, since the ECB’s forward guidance has been that it won’t raise rates until it sees inflation at the target “durably for the rest of the projection horizon”. Today’s other big decision comes from the BoE, where our UK economist is expecting that there’ll be a 15bps increase in Bank Rate, taking it up to 0.25% although they suggest it’s a very close call. See here for the rationale. Ahead of that decision later on, we received a very strong UK inflation print for November, with CPI rising to +5.1% (vs. +4.8% expected), up from +4.2% in October and the fastest pace in a decade. That’s running ahead of the BoE’s own staff forecasts in the November Monetary Policy Report, which had seen inflation at just +4.5% that month, so six-tenths beneath the realised figure. We’ll get their decision at 12:00 London time, 45 minutes ahead of the ECB’s. In terms of the latest on the Omicron variant, there are continued signs of concern in South Africa, with cases coming in at a record 26,976 yesterday, whilst the number in hospital at 7,339 is up +73% compared to a week ago. Meanwhile the UK recorded their highest number of cases since the pandemic began, at 78,610. England’s Chief Medical Officer, Chris Whitty, said that a lot of Covid records would be broken in the coming weeks, and also that a majority of cases in London were now from the Omicron variant. Separately, the French government is set to hold a meeting tomorrow on Covid measures, and EU leaders will be discussing the pandemic at their summit today. When it comes to Omicron’s economic impact, we could see some light shed on that today as the December flash PMIs are released from around the world. Overnight we’ve already had the numbers out of Australia and Japan where hints of a slowdown are apparent. Japan's Manufacturing PMI came out at 54.2 (54.5 previous) and the Composite at 51.8 (53.3 previous) while Australia’s Manufacturing and Composite came in at 57.4 and 54.9 respectively (59.2 and 55.7 previous). Overnight in Asia stocks are trading mostly higher led by the Nikkei (+1.78%) followed by the Shanghai Composite (+0.28%), and KOSPI (+0.22%). However the CSI (-0.07%) and Hang Seng (-0.81%) are losing ground on concerns of US sanctions on Chinese tech companies. In Australia, the November employment report registered a strong beat by adding 366.1k jobs against 200k consensus. This is being reflected in a +12.75 bps surge in Australia's 3y bond. Elsewhere, in India wholesale inflation for November rose +14.2% year on year, levels last seen in 2000 against a consensus of +11.98% on the back of higher food and input prices. DM futures are indicating a positive start to markets today with S&P 500 (+0.19%) and DAX (+1.04%) contracts both higher as we type. Ahead of the Fed, European markets had put in a fairly steady performance yesterday, with the STOXX 600 up +0.26%. That brought an end to a run of 5 successive declines, with technology stocks in particular seeing an outperformance. Sovereign bond markets were also subdued ahead of the ECB and BoE meetings later, with yields on 10yr bunds (+0.9bps), OATs (+0.5bps) and gilts (+1.2bps) only seeing modest moves higher. In DC, despite optimistic sounding talks earlier in the week, the latest yesterday was President Biden and Senator Manchin remained far apart on the administration’s build back better bill, imperiling its chances of passing before Christmas. Elsewhere, reports suggested the President would have more nominations for the remaining Fed Board vacancies this week. Looking at yesterday’s other data, US retail sales underwhelmed in November with growth of just +0.3% (vs. +0.8% expected), and measure excluding gas and motor vehicles was also up just +0.2% (vs. +0.8% expected). Also the NAHB’s housing market index for December moved up to a 10-month high of 84, in line with expectations. To the day ahead now, and the main highlights will be the aforementioned policy decisions from the ECB and the BoE. On the data side, we’ll also get the flash PMIs for December from around the world, the Euro Area trade balance for October, and in the US there’s November data on industrial production, housing starts and building permits, as well as the weekly initial jobless claims. Finally, EU leaders will be meeting for a summit in Brussels. Tyler Durden Thu, 12/16/2021 - 08:29.....»»

Category: blogSource: zerohedgeDec 16th, 2021

Futures Jump In Volatile Session Dragged By Latest Twists In Omicron Saga

Futures Jump In Volatile Session Dragged By Latest Twists In Omicron Saga Much of the overnight session was a snooze fest with stocks drifting first higher then lower after surging on Tuesday, as the narrative meandered from "omicron fears ease" optimism to "vaccines won't work" pessimism, before futures took a sudden leg lower, dropping into the red just after 530am ET, following news that UK's Boris Johnson would introduce new restrictions in England to curb Omicron spread, sparking fears that Omicron is more dangerous that expected (and than futures reflected). However, this episode of pessimism proved short-lived because just an hour later, the WSJ confirmed that Omicron is really just a pitch for covid booster shots when it reported that even though the covid vaccine loses significant effectiveness against Omicron in an early study, this is miraculously reversed with a booster shot as three doses of the vaccine were able to neutralize the variant in an initial laboratory study, and the companies said two doses may still protect against severe disease. Futures quickly shot up on the news, spiking above the gamma "all clear" level of 4,700 in a move best summarized with the following chart. And so, after going nowhere, S&P futures climbed for a third day, last seen 12 points, or 0.3% higher, just around 4,700 after rising the most since March on Tuesday. Europe’s Stoxx 600 Index rose following the biggest jump in more than a year. In addition to the omicron soap opera, which as we noted yesterday turns out was just one staged covid booster shot advertisement (because Pfizer and Moderna can always do with a bigger yacth), sentiment was also lifted by Chinese authorities' reversal to "easing mode" and aggressive efforts to limit the fallout from property market woes which lifted risk assets in Asia even as key debt deadlines at China Evergrande Group and Kaisa Group Holdings Ltd. passed without any sign of payment. "Clearly in the very short term uncertainty has risen over the Omicron virus... but overall at this stage we do not believe it will derail the macro picture in the medium-term," said Jeremy Gatto, multi-asset portfolio manager at Unigestion. Treasury yields were little changed after rising across the curve Tuesday. The VIX spiked first on the FT news, then dropped back into the red, while the dollar was flat and crude rose after turning red. Besides macro, micro was also in play and here are some other notable premarket movers Apple (AAPL US) ticks 1% higher in premarket trading following a Nikkei report that the tech giant told suppliers to speed up iPhone output for Nov.-Jan, citing people it didn’t identify. Amazon.com (AMZN US) shares in focus after an Amazon Web Services outage is wreaking havoc on the e-commerce giant’s delivery operation Stitch Fix (SFIX US) tumbles 25% in U.S. premarket trading after a 2Q forecast miss that analysts called “surprising,” while customer additions also disappointed Pfizer (PFE US) shares drop 2% in U.S. premarket trading after an early study showed that the company’s vaccine provides less immunity to the omicron variant Dare Bioscience (DARE US) soars 41% in premarket trading after Xaciato gets FDA approval for treating bacterial vaginosis EPAM Systems (EPAM US) soars 8% in premarket after S&P Dow Jones Indices said co. will replace Kansas City Southern in the S&P 500 effective prior to the opening of trading on Dec. 14 Goodyear Tire & Rubber (GT US) upgraded to buy from hold and target boosted to Street-high $32 from $29 at Deutsche Bank with the company seen as a major beneficiary from the shift to electric vehicles. Shares up 4.3% in premarket trading NXP Semiconductor (NXPI US) shares slide 2.2% in U.S. premarket trading after the chipmaker got a new sell rating at UBS Dave & Buster’s (PLAY US) gained 3.5% postmarket after the dining and entertainment company reported EPS that beat the average analyst estimate and authorized a $100 million share buyback program "Every day that passes without a wave of severe cases driven by Omicron is offering more hope that this won't be the curveball to throw the recovery off course," wrote Deutsche Bank strategist Jim Reid in a note to clients. In Europe, the Stoxx Europe 600 Index initially drifted both higher and lower then bounced 0.3% on the favorable Pfizer and BioNTech news one day after posting its bigger surge in a year. European benchmark index earlier rose as much as 2%, dropped 2.1%. Health care sub-index leads gains, rising 1.2%, followed by travel stocks. The Stoxx 600 closed 2.5% higher on Tuesday, biggest gain since November 2020 Earlier in the session, Asia stocks also rose for a second day as concerns about the omicron variant and China’s economic slowdown eased. The MSCI AsiaPacific Index climbed as much as 0.9% after capping its biggest one-day gain in more than three months on Tuesday. Technology and health-care shares provided the biggest boosts. Benchmarks in New Zealand and India -- where the central bank held rates at a record low -- were among the day’s best performers. “The biggest point appealing to investors is that the Omicron variant doesn’t seem to be too fatal,” which is encouraging to those who had been going short to close out their positions, said Tomoichiro Kubota, a senior market analyst at Matsui Securities in Tokyo. “Worry that the Chinese economy will lose its growth momentum has subsided quite a bit.” Thus far, Omicron cases haven’t overwhelmed hospitals while vaccine developments indicate some promise in dealing with the variant. While vaccines like the one made by Pfizer and BioNTech SE may be less powerful against the new strain, protection can be fortified with boosters. The two-day rally in the Asian stock benchmark marks a sharp turnaround following weeks of declines since mid-November. Stocks in China also climbed for a second day. The nation’s central bank said Monday it will cut the amount of cash most banks must keep in reserve from Dec. 15, providing a liquidity boost and helping restore investor confidence In FX, news on the Omicron variant rippled through G-10 currencies after a report the Pfizer vaccine could neutralize the Omicron variant boosted risk appetite. The pound underperformed other Group-of-10 peers, extending declines after reports that the U.K. government is poised to introduce new Covid-19 restrictions.  A gauge of the dollar’s strength fluctuated as Treasuries pare gains and stocks rally after a report that said Pfizer and BioNTech claim three vaccine doses neutralize the omicron variant. EUR/USD rose 0.1% to 1.1277; USD/NOK falls as much as 0.8% to 8.9459, lowest since Nov. 25 Sterling fell against the euro and the dollar, as traders pare bets on the path of Bank of England rate hikes following reports that the U.K. could introduce fresh Covid-19 restrictions such as working from home and vaccine passports for large venues. Money markets pare rate hike bets, with just six basis points of interest rate hikes priced in for the BOE meeting next week. GBP/USD falls as much as 0.6% to 1.3163, testing the key level of 1.3165, the 38.2% Fibonacci retracement of gains since March 2020. EUR/GBP gains as much as 0.7% to 0.85695, the highest since Nov. 11. “The market will probably see this as more U.K. specific and therefore an issue for the pound at least in the short term,” said Stuart Bennett, FX strategist at Santander. In rates, Treasuries were mixed with markets reacting in a risk-on manner to the Dow Jones report that Pfizer and BioNTech claim three vaccine doses neutralize the omicron variant. Yields remain richer by less than 1bp across long-end of the curve while front-end trades cheaper on the day, flattening curve spreads. Session’s focal points include $36b 10-year note reopening at 1pm ET, following Tuesday’s strong 3-year note auction. Treasury 10-year yields around 1.475%, near flat on the day; gilts outperform slightly after Financial Times report that further Covid restrictions will be announced imminently to curb the variant’s spread. U.S. 2-year yields were cheaper by 1bp on the day, rose to new 2021 high following Pfizer vaccine report; 2s10s spread erased a flattening move In commodities, crude futures turned red, WTI falling 0.8%, popping back below $72. Spot gold holds Asia’s modest gains, adding $8 to trade near $1,792/oz. Looking at the day ahead, and Olaf Scholz is expected to become German Chancellor in a Bundestag vote today. From central banks, the Bank of Canada will be deciding on rates, and we’ll also hear from ECB President Lagarde, Vice President de Guindos and the ECB’s Schnabel. Finally, data releases include the JOLTS job openings from the US for October. Market Snapshot S&P 500 futures up 0.2% to 4,693.75 STOXX Europe 600 little changed at 480.55 MXAP up 0.7% to 194.84 MXAPJ up 0.6% to 632.78 Nikkei up 1.4% to 28,860.62 Topix up 0.6% to 2,002.24 Hang Seng Index little changed at 23,996.87 Shanghai Composite up 1.2% to 3,637.57 Sensex up 1.8% to 58,654.25 Australia S&P/ASX 200 up 1.3% to 7,405.45 Kospi up 0.3% to 3,001.80 Brent Futures down 0.5% to $75.04/bbl Gold spot up 0.3% to $1,790.33 U.S. Dollar Index down 0.17% to 96.20 German 10Y yield little changed at -0.38% Euro up 0.2% to $1.1286 Brent Futures down 0.5% to $75.04/bbl Top Overnight News from Bloomberg The omicron variant of Covid-19 must inflict significant damage on the euro-area economy for European Central Bank Governing Council member Martins Kazaks to back additional stimulus “The current phase of higher inflation could last longer than expected only some months ago,” ECB vice president Luis de Guindos says at event The earliest studies on omicron are in and the glimpse they’re providing is cautiously optimistic: while vaccines like the one made by Pfizer Inc. and BioNTech SE may be less powerful against the new variant, protection can be fortified with boosters U.K. Prime Minister Boris Johnson is set to announce new Covid-19 restrictions in England, known as “Plan B,” to stop the spread of the Omicron variant, the Financial Times reported, citing three senior Whitehall officials familiar with the matter. French economic activity will continue to rise in December, despite another wave of the Covid-19 pandemic and fresh uncertainty over the omicron variant, according the Bank of France The Kingdom of Denmark will sell a sovereign green bond for the first time next month to help the Nordic nation meet one of the world’s most ambitious climate targets Tom Hayes, the former UBS Group AG and Citigroup Inc. trader who became the face of the sprawling Libor scandal, has lost his bid to appeal his U.K. criminal conviction Poland is poised for a hefty increase in interest rates after a spike in inflation to a two- decade high convinced central bankers that spiraling price growth isn’t transitory. Of 32 economists surveyed by Bloomberg, 20 expect a 50 basis-point hike to 1.75% today and 10 see the rate rising to 2%. The other two expect a 25 basis-point increase Australia is weighing plans for a central bank-issued digital currency alongside the regulation of the crypto market as it seeks to overhaul how the nation’s consumers and businesses pay for goods and services Bank of Japan Deputy Governor Masayoshi Amamiya dropped a strong hint that big firms are in less need of funding support, a comment that will likely fuel speculation the BOJ will scale back its pandemic buying of corporate bonds and commercial paper A detailed summary of global markets courtesy of Newsquawk Asian equity markets traded positively as the region took impetus from the global risk momentum following the tech-led rally in the US, where Apple shares rose to a record high and amid increased optimism that Omicron could be less dangerous than prior variants. This was after early hospitalisation data from South Africa showed the new variant could result in less severe COVID and NIH's Fauci also suggested that Omicron was 'almost certainly' not more severe than Delta, although there were some slight headwinds in late Wall Street trade after a small study pointed to reduced vaccine efficacy against the new variant. The ASX 200 (+1.3%) was underpinned in which tech led the broad gains across sectors as it found inspiration from the outperformance of big tech stateside, and with energy bolstered by the recent rebound in underlying oil prices. The Nikkei 225 (+1.4%) conformed to the upbeat mood although further advances were capped after USD/JPY eased off the prior day’s highs and following a wider-than-expected contraction to the economy with the final annualised Q3 GDP at -3.6% vs exp. -3.1%. The Hang Seng (+0.1%) and Shanghai Comp. (+1.2%) were less decisive and initially lagged behind their peers as sentiment was mired by default concerns due to the failure by Evergrande to pay bondholders in the lapsed 30-day grace period on two USD-denominated bond payments and with Kaisa Group in a trading halt after missing the deadline for USD 400mln in offshore debt which didn’t bode well for its affiliates. Furthermore, China Aoyuan Property Group received over USD 650mln in repayment demands and warned it may not be able to meet debt obligations, while a subdued Hong Kong debut for Weibo shares which declined around 6% from the offer price added to the glum mood for Hong Kong’s blue-chip tech stocks, as did reports that China is to tighten rules for tech companies seeking foreign funding. Finally, 10yr JGBs languished after spillover selling from T-notes and due to the heightened global risk appetite, but with downside stemmed by support at the key psychological 152.00 level and amid the presence of the BoJ in the market today for over JPY 1.0tln of JGBs. Top Asian News China Clean Car Sales Spike as Consumers Embrace Electric Gold Edges Higher as Traders Weigh Vaccine Efficacy, Geopolitics Paint Maker Avia Avian Falls in Debut After $763 Million IPO Tokyo Prepares to Introduce Same-Sex Partnerships Next Year Equities in Europe shifted to a lower configuration after a mixed open (Euro Stoxx 50 -0.7%; Stoxx 600 -0.1%) as sentiment was dented by rumours of tightening COVID measures in the UK. Markets have been awaiting the next catalyst to latch onto for direction amidst a lack of fresh fundamentals. US equity futures have also been dented but to a lesser extent, with the YM (-0.1%) and ES (Unch) straddling behind the NQ (+0.2%) and RTY (+0.2%). Sources in recent trade suggested an 85% chance of the UK implementing COVID Plan B, according to Times' Dunn; reports indicate such restrictions could be implemented on Thursday, with the potential for an announcement today. In terms of the timings, the UK cabinet is penciled in for 15:45GMT and presser for 17:30GMT on Plan B, according to BBC's Goodall. Note, this will not be a formal lockdown but more so work-from-home guidance, vaccine passports for nightlife and numerical restrictions on indoor/outdoor gatherings. APAC closed in the green across the board following the tech-led rally in the US. The upside overnight was attributed to a continuation of market optimism after early hospitalisation data from South Africa showed the new variant could result in less severe COVID, albeit after a small study pointed to reduced vaccine efficacy against the new variant. Participants will be closely watching any updates from the vaccine-makers, with the BioNTech CEO stating the drugmaker has data coming Wednesday or Thursday related to the new COVID-19 variant, thus markets will be eyeing a potential update this week ahead of the Pfizer investor call next Friday. Back to European, the UK’s FTSE 100 (Unch) and the Swiss SMI (+0.8%) are largely buoyed by their defensive stocks, with sectors seeing a defensive formation, albeit to a slightly lesser extent vs the open. Healthcare retains its top spot closely followed by Food & Beverages, although Personal & Household Goods and Telecoms have moved down the ranks. On the flip side, Retail, Banks and Travel & Leisure trade at the bottom of the bunch, whilst Tech nursed some earlier losses after opening as the lagging sector. In terms of individual movers, Nestle (+1.8%) is bolstered after announcing a CHF 20bln share repurchase programme alongside a stake reduction in L'Oreal (+1.0%) to 20.1% from 23.3% - worth some EUR 9bln. L’Oreal has shrugged off the stake sale and conforms to the firm sectoral performance across the Personal & Household Goods. Meanwhile, chip names are under pressure after Nikkei sources reported that Apple (+0.8% pre-market) was forced to scale back the total output target for 2021, with iPhone and iPad assembly halted for several days due to supply chain constraints and restrictions on the use of power in China, multiple sources told Nikkei. STMicroelectronics (-1.7%) and Infineon (-5.0%) are among the losers, with the latter also weighed on by a broker downgrade at JPM. Top European News ECB’s Kazaks Sets High Bar for Omicron-Driven Extra Stimulus Biden Is Left Guessing Over Putin’s Ultimate Aim in Ukraine Byju’s Buys Austria’s GeoGebra to Bolster Online Math Courses Scholz Elected by Parliament to Take Charge as German Chancellor In FX, the Dollar index continues to hold above 96.000, but bounces have become less pronounced and the range so far today is distinctly narrower (96.285-130) in fitting with the generally restrained trade in pairings within the basket and beyond, bar a few exceptions. Price action suggests a relatively muted midweek session unless a major game-changer arrives and Wednesday’s agenda does not bode that well in terms of catalysts aside from JOLTS and the BoC policy meeting before the second leg of this week’s refunding in the form of Usd 36 bn 10 year notes. AUD/EUR - Notwithstanding the largely contained currency moves noted above, the Aussie is maintaining bullish momentum on specific factors including strength in iron ore prices and encouraging Chinese data plus PBoC easing that should have a positive knock-on effect for one of its main trading partners even though diplomatic relations between the two nations are increasingly strained. Aud/Usd has also cleared a couple of technical hurdles on the way up to circa 0.7143 and Aud/Nzd is firmer on the 1.0500 handle ahead of the RBA’s latest chart pack release and a speech by Governor Lowe. Elsewhere, the Euro has regained composure after its sub-1.1250 tumble on Tuesday vs the Buck and dip through 0.8500 against the Pound, but still faces psychological resistance at 1.1300 and the 21 DMA that comes in at 1.1317 today, while Eur/Gbp needs to breach the 100 DMA (0.8513) convincingly or close above to confirm a change in direction for the cross from a chart perspective. CHF/CAD/JPY/GBP/NZD - All sitting tight in relation to their US counterpart, with the Franc paring some declines between 0.9255-30 parameters and the Loonie straddling 1.2650 in the run up to the aforementioned BoC that is widely seen as a non-event given no new MPR or press conference, not to mention the actual changes in QE and rate guidance last time. Nevertheless, implied volatility is quite high via a 63 pip breakeven for Usd/Cad. Meanwhile, Sterling lost grip of the 1.3200 handle amidst swirling speculation about the UK reverting to plan B and more Tory MPs calling for PM Johnson to resign, the Yen is rotating around 113.50 eyeing broad risk sentiment and US Treasury yields in context of spreads to JGBs, and the Kiwi is lagging after touching 0.6800 awaiting independent impetus from NZ manufacturing sales for Q3. SCANDI/EM - The Nok extended its advantage/outperformance against the Sek as Brent rebounded towards Usd 76/brl in early trade and Riksbank’s Jansson retained reservations about flagging a repo rate hike at the end of the forecast horizon, while the Mxn and Rub also initially derived some support from oil with the latter also taking on board latest hawkish talk from the CBR. However, the Cny and Cnh are outpacing their rivals again with some assistance from a firmer PBoC midpoint fix to hit multi-year peaks vs the Usd and probe 6.3500 ahead of option expiry interest at 6.3000 and a Fib retracement at 6.2946, in stark contrast to the Try that is unwinding recent recovery gains with no help from the latest blast from Turkish President Erdogan - see 10.00GMT post in the Headline Feed for more. Conversely, the Czk has taken heed of CNB’s Holub underscoring tightening signals and expectations for the next rate convene and the Pln and Brl are anticipating hikes from the NBP and BCB. In commodities, crude futures have been hit on the prospect of imminent COVID-related measures in the UK, albeit the measures do not involve lockdowns. Brent and WTI front month futures slipped from European highs to breach APAC lows. The former dipped below USD 74.50/bbl from a USD 76.00/bbl European peak while its WTI counterpart tested USD 71.00/bbl from USD 72.50/bbl at best. Overnight the benchmarks traded on either side the USD 75/bbl mark and just under USD 72/bbl after the weekly Private Inventories printed a larger-than-expected draw (-3.6mln vs exp. -3.1mln), albeit the internals were less bullish. Yesterday also saw the release of the EIA STEO, cut its 2021 world oil demand growth forecast by an insignificant 10k BPD but raised the 2022 metric by 200k BPD – with the IEA and OPEC monthly reports poised to be released next week. On the vaccine front, a small preliminary study of 12 people showed a 40x reduction in neutralization capacity of the Pfizer vaccine against Omicron, but early hospitalisation data from South Africa showed the new variant could result in less severe COVID. BioNTech CEO said they have data coming in on Wednesday or Thursday related to the new Omicron variant. The geopolitical space is also worth keeping on the radar, with US President Biden yesterday warning Russian President Putin that gas exports via Nord Stream 2 will be targeted and more troops will be deployed if he orders an invasion of Ukraine. Further, reports suggested, an Indian army helicopter crashed in Tamil Nadu, with Chief of Defence staff reportedly on board, according to Sputnik. Note, Tamil Nadu is located towards the south of the country and away from conflict zones. Elsewhere spot gold was supported by the overnight pullback in the Dollar, but the recent risk aversion took the yellow metal above the 100 DMA around USD 1,790/oz, with nearby upside levels including the 200 DMA (1,792/oz) and the 50 DMA (1,794/oz). Copper prices meanwhile consolidated within a tight range, with LME copper holding onto a USD 9,500/t handle (just about). Dalian iron ore extended on gains in a continuation of the upside seen in recent trade. US Event Calendar 7am: Dec. MBA Mortgage Applications, prior -7.2% 10am: Oct. JOLTs Job Openings, est. 10.5m, prior 10.4m DB's Jim Reid concludes the overnight wrap A reminder that we are currently conducting our special 2022 survey. We ask about rates, equities, bond yields and the path of covid in 2022, amongst other things, and also return to a festive question we asked in 2019, namely your favourite ever Christmas songs. The link is here and it’ll be open until tomorrow. All help filling in very much appreciated. My optimism for life has been shattered this morning. Not from the markets or the virus but just as I woke this morning England cricketers finally surrendered and collapsed in a heap on the first day of the Ashes - one the oldest international rivalries in sport. It was all I could do not to turn round and go back to bed. However out of duty I’m soldering on. After the twins nativity play went without incident yesterday, this morning it’s Maisie’s turn. Given she’s in a wheelchair at the moment she can’t get on stage so they’ve given her a solo singing spot at the start. I’m going so I can bring a bucket for all my wife’s tears as she sings!! If I shed a tear I’ll pretend it’s because of the cricket. The global market rebound continued to gather strength yesterday as investors became increasingly optimistic that the Omicron variant wouldn’t prove as bad as initially feared. To be honest, it was more the absence of bad news rather than any concrete good news helping to drive sentiment. Late in the US session we did see some headlines suggesting that the Pfizer vaccine may provide some defence against Omicron but also that the new variant does evade some of the immunity produced by this vaccine. This report of the small study (12 people!!) from South Africa lacked substance but you could take positives and negatives from it. More information is clearly needed. For the markets though, every day that passes without a wave of severe cases driven by Omicron is offering more hope that this won’t be the curveball to throw the recovery off course. Indeed, to get a sense of the scale of the market rebound, both the S&P 500 and the STOXX 600 in Europe have now clocked in their strongest 2-day performances of 2021 so far, with the indices up by +3.27% and +3.76% respectively since the start of the week. Meanwhile, the VIX fell below 25 for the first time in a week. On the day, the S&P 500 (+2.07%) put in its strongest daily performance since March, whilst the STOXX 600 (+2.45%) saw its strongest daily performance since the news that the Pfizer vaccine was successful in trials back in November 2020. Once again the gains were incredibly broad-based, albeit with cyclical sectors leading the way. The Nasdaq (+3.03%) outperformed the S&P 500 for the first time in a week as tech shares led the rally. Small cap stocks also had a strong day, with the Russell 2000 up +2.28%, on the back of Omicron optimism. This recovery in risk assets was also seen in the bounceback in oil prices, with Brent crude (+3.23%) and WTI (+3.68%) now both up by more than $5.5/bbl since the start of the week, which puts them well on the way to ending a run of 6 consecutive weekly declines. For further evidence of this increased optimism, we can also look at the way that investors have been dialling back up their estimates of future rate hikes from the Fed, with yesterday seeing another push in this direction. Before the Omicron news hit, Fed fund futures were fully pricing in an initial hike by the June meeting, but by the close on the Monday after Thanksgiving they’d moved down those odds to just 61% in June, with an initial hike not fully priced until September. Fast forward just over a week however, and we’re now not only back to pricing in a June hike, but the odds of a May hike are standing at +78.8%, which is actually higher than the +66.1% chance priced before the Omicron news hit. A reminder that we’re just a week away now from the Fed’s next decision, where it’s hotly anticipated they could accelerate the pace at which they’ll taper their asset purchases. With investors bringing forward their bets on monetary tightening, front-end US Treasury yields were hitting post-pandemic highs yesterday, with the 2yr Treasury yield up +5.8bps to 0.69%, a level we haven’t seen since March 2020. Longer-dated yield increases weren’t as large, with the 10yr yield up +3.9bps to 1.47%, and the 5s30s curve flattened another -1.8bps to 54.4bps, just above the post-pandemic low of 53.7bps. Over in Europe there was similarly a rise in most countries’ bond yields, with those on 10yr bunds (+1.4bps), OATs (+1.0bps) and BTPs (+4.4bps) all moving higher, though incidentally, the 5s30s curve in Germany was also down -2.2bps to its own post-pandemic low of 50.0bps. One pretty big news story that markets have been relatively unperturbed by so far is the rising tensions between the US and Russia over Ukraine. Yesterday saw a video call between US President Biden and Russian President Putin. The US readout from the call did not offer much in the way of concrete details, but if you’re looking for any optimistic news, it said that both sides tasked their teams with following up. Setting the background for the call, there were reports immediately beforehand that the US was considering evacuating their citizens and posturing to stop Nord Stream 2 if Russia invaded Ukraine. The Ruble appreciated +0.42% against the dollar, and is now only slightly weaker versus the dollar on the week. Overnight in Asia stocks are trading mostly higher led by the Nikkei (+1.49%), CSI (+1.11%), Shanghai Composite (+0.86%) and the KOSPI (+0.78%) as markets respond positively to the Pfizer study mentioned at the top. The Hang Seng (-0.12%) is lagging though. In Japan, the final Q3 GDP contracted -3.6% quarter on quarter annualised against consensus expectations of -3.1% on lower consumer spending than initially estimated. In India, the RBI left the key policy rate unchanged for the ninth consecutive meeting today while underscoring increasing headwinds from the Omicron variant. Futures markets indicate a positive start in the US and Europe with S&P 500 (+0.41%) and DAX (+0.12%) futures trading in the green. Back on the pandemic, despite the relative benign news on Omicron, rising global case counts mean that the direction of travel is still towards tougher restrictions across a range of countries. In fact here in the UK, we saw the 7-day average of reported cases move above 48,000 for the first time since January. In terms of fresh restrictions, yesterday saw Canada announce that they’d be extending their vaccine mandate, which will now require employees in all federally regulated workplaces to be vaccinated, including road transportation, telecommunications and banking. In Sweden, the government is preparing a bill that would see Covid passes introduced for gyms and restaurants, while Poland put further measures in place, including remote schooling from December 20 until January 9, while vaccines would become mandatory for health workers, teachers and uniformed services from March 1. One move to ease restrictions came in Austria, where it was confirmed shops would be reopening on Monday, albeit only for those vaccinated, while restaurants and hotels would reopen the following week. If you see our daily charts you’ll see that cases in Austria have dropped sharply since the peaks a couple of weeks ago, albeit still high internationally. In DC, Congressional leaders apparently agreed to a deal that would ultimately lead to the debt ceiling being increased, after some procedural chicanery. Senate Majority Leader McConnell voiced support for the measure, which is a good sign for its ultimate prospects of passing, but it still needs at least 10 Republican votes in the Senate to pass. McConnell indicated the votes would be there when the Senate ultimately takes it up, which is reportedly set to happen this week. The House passed the measure last night. Yields on Treasury bills maturing in December fell following the headlines. Looking ahead, today will mark the end of an era in Germany, as Olaf Scholz is set to become Chancellor in a Bundestag vote later on, marking an end to Chancellor Merkel’s 16-year tenure. That vote will simply be a formality given the three parties of the incoming coalition (the centre-left SPD, the Greens and the liberal FDP) have a comfortable majority between them, and the new cabinet will feature 7 SPD ministers, 5 Green ministers, and 4 from the FDP. Among the positions will include Green co-leader Robert Habeck as Vice Chancellor, Green co-leader Annalena Baerbock as foreign minister, and FDP leader Christian Lindner as finance minister. Running through yesterday’s data, the US trade deficit narrowed to $67.1bn in October (vs. $66.8bn expected), marking its smallest level since April. Meanwhile in the Euro Area, the latest Q3 growth estimate was left unchanged at +2.2%, but both Q1 and Q2’s growth was revised up a tenth. Over in Germany, industrial production grew by a stronger-than-expected +2.8% in October (vs. +1.0% expected), with the previous month’s contraction also revised to show a smaller -0.5% decline. In addition, the expectations component of the December ZEW survey fell by less than expected to 29.9 (vs. 25.4 expected), but the current situation measure fell to a 6-month low of -7.4 (vs. 5.7 expected). To the day ahead now, and Olaf Scholz is expected to become German Chancellor in a Bundestag vote today. From central banks, the Bank of Canada will be deciding on rates, and we’ll also hear from ECB President Lagarde, Vice President de Guindos and the ECB’s Schnabel. Finally, data releases include the JOLTS job openings from the US for October. Tyler Durden Wed, 12/08/2021 - 07:58.....»»

Category: blogSource: zerohedgeDec 8th, 2021

Futures Rebound From Friday Rout As Omicron Fears Ease

Futures Rebound From Friday Rout As Omicron Fears Ease S&P futures and European stocks rebounded from Friday’s selloff while Asian shares fell, as investors took comfort in reports from South Africa which said initial data doesn’t show a surge of hospitalizations as a result of the omicron variant, a view repeated by Anthony Fauci on Sunday. Meanwhile, fears about a tighter Fed were put on the backburner. Also overnight, China’s central bank announced it will cut the RRR by 50bps releasing 1.2tn CNY in liquidity, a move that had been widely expected. The cut comes as insolvent Chinese property developer Evergrande was said to be planning to include all its offshore public bonds and private debt obligations in a restructuring plan. US equity futures rose 0.3%, fading earlier gains, and were last trading at 4,550. Nasdaq futures pared losses early in the U.S. morning, trading down 0.4%. Oil rose after Saudi Arabia boosted the prices of its crude, signaling confidence in the demand outlook, which helped lift European energy shares. The 10-year Treasury yield advanced to 1.40%, while the dollar was little changed and the yen weakened. “A wind of relief may blow the current risk-off trading stance away this week,” said Pierre Veyret, a technical analyst at U.K. brokerage ActivTrades. “Concerns related to the omicron variant may ease after South African experts didn’t register any surge in deaths or hospitalization.” As Bloromberg notes, the mood across markets was calmer on Monday after last week’s big swings in technology companies and a crash in Bitcoin over the weekend. Investors pointed to good news from South Africa that showed hospitals haven’t been overwhelmed by the latest wave of Covid cases. Initial data from South Africa are “a bit encouraging regarding the severity,” Anthony Fauci, U.S. President Joe Biden’s chief medical adviser, said on Sunday. At the same time, he cautioned that it’s too early to be definitive. Here are some of the biggest U.S. movers today: Alibaba’s (BABA US) U.S.-listed shares rise 1.9% in premarket after a 8.2% drop Friday prompted by the delisting plans of Didi Global. Alibaba said earlier it is replacing its CFO and reshuffling the heads of its commerce businesses Rivian (RIVN US) has the capabilities to compete with Tesla and take a considerable share of the electric vehicle market, Wall Street analysts said as they started coverage with overwhelmingly positive ratings. Shares rose 2.2% initially in U.S. premarket trading, but later wiped out gains to drop 0.9% Stocks tied to former President Donald Trump jump in U.S. premarket trading after his media company agreed to a $1 billion investment from a SPAC Cryptocurrency-exposed stocks tumble amid volatile trading in Bitcoin, another indication of the risk aversion sweeping across financial markets Laureate Education (LAUR US) approved the payment of a special cash distribution of $0.58 per share. Shares rose 2.8% in postmarket Friday AbCellera Biologics (ABCL US) gained 6.2% postmarket Friday after the company confirmed that its Lilly-partnered monoclonal antibody bamlanivimab, together with etesevimab, received an expanded emergency use authorization from the FDA as the first antibody therapy in Covid-19 patients under 12 European equities drifted lower after a firm open. Euro Stoxx 50 faded initial gains of as much as 0.9% to trade up 0.3%. Other cash indexes follow suit, but nonetheless remain in the green. FTSE MIB sees the largest drop from session highs. Oil & gas is the strongest sector, underpinned after Saudi Arabia raised the prices of its crude. Tech, autos and financial services lag. Companies that benefited from increased demand during pandemic-related lockdowns are underperforming in Europe on Monday as investors assess whether the omicron Covid variant will force governments into further social restrictions. Firms in focus include meal-kit firm HelloFresh (-2.3%) and online food delivery platforms Delivery Hero (-5.4%), Just Eat Takeaway (-5.6%) and Deliveroo (-8.5%). Remote access software firm TeamViewer (-3.7%) and Swedish mobile messaging company Sinch (-3.0%), gaming firm Evolution (-4.2%). Online pharmacies Zur Rose (-5.1%), Shop Apotheke (-3.5%). Online grocer Ocado (-2.2%), online apparel retailer Zalando (-1.5%). In Asia, the losses were more severe as investors remained wary over the outlook for U.S. monetary policy and the spread of the omicron variant.  The Hang Seng Tech Index closed at the lowest level since its inception. SoftBank Group Corp. fell as much as 9% in Tokyo trading as the value of its portfolio came under more pressure. The MSCI Asia Pacific Index slid as much as 0.9%, hovering above its lowest finish in about a year. Consumer discretionary firms and software technology names contributed the most to the decline, while the financial sector outperformed.  Hong Kong’s equity benchmark was among the region’s worst performers amid the selloff in tech shares. The market also slumped after the omicron variant spread among two fully vaccinated travelers across the hallway of a quarantine hotel in the city, unnerving health authorities. “People are waiting for new information on the omicron variant,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management in Tokyo. “We’re at a point where it’s difficult to buy stocks.” Separately, China’s central bank announced after the country’s stock markets closed that it will cut the amount of cash most banks must keep in reserve from Dec. 15, providing a liquidity boost to economic growth.  Futures on the Nasdaq 100 gained further in Asia late trading. The underlying gauge slumped 1.7% on Friday, after data showed U.S. job growth had its smallest gain this year and the unemployment rate fell more than forecast. Investors seem to be focusing more on the improved jobless rate, as it could back the case for an acceleration in tapering, Ichikawa said.  Asian equities have been trending lower since mid-November amid a selloff in Chinese technology giants, concern over U.S. monetary policy and the spread of omicron. The risk-off sentiment pushed shares to a one-year low last week.  Overnight, the PBoC cut the RRR by 50bps (as expected) effective 15th Dec; will release CNY 1.2tln in liquidity; RRR cut to guide banks for SMEs and will use part of funds from RRR cut to repay MLF. Will not resort to flood-like stimulus; will reduce capital costs for financial institutions by around CNY 15bln per annum. The news follows earlier reports via China Securities Daily which noted that China could reduce RRR as soon as this month, citing a brokerage firm. However, a separate Chinese press report noted that recent remarks by Chinese Premier Li on the reverse repo rate doesn't mean that there will be a policy change and an Economics Daily commentary piece suggested that views of monetary policy moves are too simplistic and could lead to misunderstandings after speculation was stoked for a RRR cut from last week's comments by Premier Li. Elsewhere, Indian stocks plunged in line with peers across Asia as investors remained uncertain about the emerging risks from the omicron variant in a busy week of monetary policy meetings.   The S&P BSE Sensex slipped 1.7% to 56,747.14, in Mumbai, dropping to its lowest level in over three months, with all 30 shares ending lower. The NSE Nifty 50 Index also declined by a similar magnitude. Infosys Ltd. was the biggest drag on both indexes and declined 2.3%.  All 19 sub-indexes compiled by BSE Ltd. declined, led by a measure of software exporters.  “If not for the new omicron variant, economic recovery was on a very strong footing,” Mohit Nigam, head of portfolio management services at Hem Securities Ltd. said in a note. “But if this virus quickly spreads in India, then we might experience some volatility for the coming few weeks unless development is seen on the vaccine side.” Major countries worldwide have detected omicron cases, even as the severity of the variant still remains unclear. Reserve Bank of Australia is scheduled to announce its rate decision on Tuesday, while the Indian central bank will release it on Dec. 8. the hawkish comments by U.S. Fed chair Jerome Powell on tackling rising inflation also weighed on the market Japanese equities declined, following U.S. peers lower, as investors considered prospects for inflation, the Federal Reserve’s hawkish tilt and the omicron virus strain. Telecommunications and services providers were the biggest drags on the Topix, which fell 0.5%. SoftBank Group and Daiichi Sankyo were the largest contributors to a 0.4% loss in the Nikkei 225. The Mothers index slid 3.8% amid the broader decline in growth stocks. A sharp selloff in large technology names dragged U.S. stocks lower Friday. U.S. job growth registered its smallest gain this year in November while the unemployment rate fell by more than forecast to 4.2%. There were some good aspects in the U.S. jobs data, said Shoji Hirakawa, chief global strategist at Tokai Tokyo Research Institute. “We’re in this contradictory situation where there’s concern over an early rate hike given the economic recovery, while at the same time there’s worry over how the omicron variant may slow the current recovery.” Australian stocks ended flat as staples jumped. The S&P/ASX 200 index closed little changed at 7,245.10, swinging between gains and losses during the session as consumer staples rose and tech stocks fell. Metcash was the top performer after saying its 1H underlying profit grew 13% y/y. Nearmap was among the worst performers after S&P Dow Jones Indices said the stock will be removed from the benchmark as a result of its quarterly review. In New Zealand, the S&P/NZX 50 index fell 0.6% to 12,597.81. In FX, the Bloomberg Dollar Spot Index gave up a modest advance as the European session got underway; the greenback traded mixed versus its Group-of-10 peers with commodity currencies among the leaders and havens among the laggards. JPY and CHF are the weakest in G-10, SEK outperforms after hawkish comments in the Riksbank’s minutes. USD/CNH drifts back to flat after a fairly well telegraphed RRR cut materialized early in the London session.  The euro fell to a day low of $1.1275 before paring. The pound strengthened against the euro and dollar, following stocks higher. Bank of England deputy governor Ben Broadbent due to speak. Market participants will be watching for his take on the impact of the omicron variant following the cautious tone of Michael Saunders’ speech on Friday. Treasury yields gapped higher at the start of the day and futures remain near lows into early U.S. session, leaving yields cheaper by 4bp to 5bp across the curve. Treasury 10-year yields around 1.395%, cheaper by 5bp vs. Friday’s close while the 2s10s curve steepens almost 2bps with front-end slightly outperforming; bunds trade 4bp richer vs. Treasuries in 10-year sector. November's mixed U.S. jobs report did little to shake market expectations of more aggressive tightening by the Federal Reserve. Italian bonds outperformed euro-area peers after Fitch upgraded the sovereign by one notch to BBB, maintaining a stable outlook. In commodities, crude futures drift around best levels during London hours. WTI rises over 1.5%, trading either side of $68; Brent stalls near $72. Spot gold trends lower in quiet trade, near $1,780/oz. Base metals are mixed: LME copper outperforms, holding in the green with lead; nickel and aluminum drop more than 1%. There is nothing on today's economic calendar. Focus this week includes U.S. auctions and CPI data, while Fed speakers enter blackout ahead of next week’s FOMC. Market Snapshot S&P 500 futures up 0.7% to 4,567.50 STOXX Europe 600 up 0.8% to 466.39 MXAP down 0.9% to 189.95 MXAPJ down 1.0% to 617.01 Nikkei down 0.4% to 27,927.37 Topix down 0.5% to 1,947.54 Hang Seng Index down 1.8% to 23,349.38 Shanghai Composite down 0.5% to 3,589.31 Sensex down 1.5% to 56,835.37 Australia S&P/ASX 200 little changed at 7,245.07 Kospi up 0.2% to 2,973.25 Brent Futures up 2.9% to $71.89/bbl Gold spot down 0.2% to $1,780.09 U.S. Dollar Index up 0.15% to 96.26 German 10Y yield little changed at -0.37% Euro down 0.2% to $1.1290 Top Overnight News from Bloomberg Speculators were caught offside in both bonds and stocks last week, increasing their bets against U.S. Treasuries and buying more equity exposure right before a bout of volatility caused the exact opposite moves Inflation pressure in Europe is still likely to be temporary, Eurogroup President Paschal Donohoe said Monday, even if it is taking longer than expected for it to slow China Evergrande Group’s stock tumbled close to a record low amid signs a long-awaited debt restructuring may be at hand, while Kaisa Group Holdings Ltd. faces a potential default this week in major tests of China’s ability to limit fallout from the embattled property sector China Evergrande Group is planning to include all its offshore public bonds and private debt obligations in a restructuring that may rank among the nation’s biggest ever, people familiar with the matter said China tech shares tumbled on Monday, with a key gauge closing at its lowest level since launch last year as concerns mount over how much more pain Beijing is willing to inflict on the sector The U.S. is poised to announce a diplomatic boycott of the Beijing Winter Olympics, CNN reported, a move that would create a new point of contention between the world’s two largest economies SNB Vice President Fritz Zurbruegg to retire at the end of July 2022, according to statement Bitcoin has markedly underperformed rivals like Ether with its weekend drop, which may underscore its increased connection with macro developments Austrians who reject mandatory coronavirus vaccinations face 600-euro ($677) fines, according to a draft law seen by the Kurier newspaper Some Riksbank board members expressed different nuances regarding the asset holdings and considered that it might become appropriate for the purchases to be tapered further next year,  the Swedish central bank says in minutes from its Nov. 24 meeting A more detailed look at global markets courtesy of Newsquawk Asian equities began the week cautiously following last Friday's negative performance stateside whereby the Russell 2000 and Nasdaq closed lower by around 2% apiece, whilst the S&P 500 and Dow Jones saw shallower losses. The Asia-Pac region was also kept tentative amid China developer default concerns and conflicting views regarding speculation of a looming RRR cut by China's PBoC. The ASX 200 (+0.1%) was initially dragged lower by a resumption of the underperformance in the tech sector, and with several stocks pressured by the announcement of their removal from the local benchmark, although losses for the index were later reversed amid optimism after Queensland brought forward the easing of state border restrictions, alongside the resilience in the defensive sectors. The Nikkei 225 (-0.4%) suffered from the currency inflows late last week but finished off worse levels. The Hang Seng (-1.8%) and Shanghai Comp. (-0.5%) were mixed with Hong Kong weighed by heavy tech selling and as default concerns added to the headwinds after Sunshine 100 Holdings defaulted on a USD 170mln bond payment, whilst Evergrande shares slumped in early trade after it received a demand for payments but noted there was no guarantee it will have the sufficient funds and with the grace period for two offshore bond payments set to expire today. Conversely, mainland China was kept afloat by hopes of a looming RRR cut after comments from Chinese Premier Li that China will cut RRR in a timely manner and a brokerage suggested this could occur before year-end. However, other reports noted the recent remarks by Chinese Premier Li on the reverse repo rate doesn't mean a policy change and that views of monetary policy moves are too simplistic which could lead to misunderstandings. Finally, 10yr JGBs were steady after having marginally extended above 152.00 and with prices helped by the lacklustre mood in Japanese stocks, while price action was tame amid the absence of BoJ purchases in the market today and attention was also on the Chinese 10yr yield which declined by more than 5bps amid speculation of a potentially looming RRR cut. Top Asian News SoftBank Slumps 9% Monday After Week of Bad Portfolio News Alibaba Shares Rise Premarket After Rout, Leadership Changes China PBOC Repeats Prudent Policy Stance With RRR Cut China Cuts Reserve Requirement Ratio as Economy Slows Bourses in Europe kicked off the new trading week higher across the board but have since drifted lower (Euro Stoxx 50 +0.1%; Stoxx 600 +0.3%) following a somewhat mixed lead from APAC. Sentiment across markets saw a fleeting boost after the Asia close as China’s central bank opted to cut the RRR by 50bps, as touted overnight and in turn releasing some CNY 1.2tln in liquidity. This saw US equity futures ticking to marginal fresh session highs, whilst the breakdown sees the RTY (+0.6%) outpacing vs the ES (Unch), YM (+0.3%) and NQ (-0.6%), with the US benchmarks eyeing this week’s US CPI as Fed speakers observe the blackout period ahead of next week’s FOMC policy decision – where policymakers are expected to discuss a quickening of the pace of QE taper. From a technical standpoint, the ESz1 and NQz1 see their 50 DMAs around 4,540 and 16,626 respectively. Back to trade, Euro-indices are off best levels with a broad-based performance. UK’s FTSE 100 (+0.8%) received a boost from base metals gaining impetus on the PBoC RRR cut, with the UK index now the outperformer, whilst gains in Oil & Gas and Banks provide further tailwinds. Sectors initially started with a clear cyclical bias but have since seen a reconfiguration whereby the defensives have made their way up the ranks. The aforementioned Oil & Gas, Banks and Basic Resources are currently the winners amid upward action in crude, yields and base metals respectively. Food & Beverages and Telecoms kicked off the session at the bottom of the bunch but now reside closer to the middle of the table. The downside meanwhile sees Travel & Tech – two sectors which were at the top of the leaderboard at the cash open – with the latter seeing more noise surrounding valuations and the former initially unreactive to UK tightening measures for those travelling into the UK. In terms of individual movers, AstraZeneca (+0.7%) is reportedly studying the listing of its new vaccine division. BT (+1.2%) holds onto gains as Discovery is reportedly in discussions regarding a partnership with BT Sport and is offering to create a JV, according to sources. Taylor Wimpey (Unch) gave up opening gains seen in wake of speculation regarding Elliott Management purchasing a small stake. Top European News Johnson Says U.K. Awaiting Advice on Omicron Risks Before Review Scholz Names Harvard Medical Expert to Oversee Pandemic Policy EU Inflation Still Seen as Temporary, Eurogroup’s Donohoe Says Saudi Crown Prince Starts Gulf Tour as Rivalries Melt Away In FX, the Buck has settled down somewhat after Friday’s relatively frenetic session when price action and market moves were hectic on the back of a rather mixed BLS report and stream of Omicron headlines, with the index holding a tight line above 96.000 ahead of a blank US agenda. The Greenback is gleaning some traction from the firmer tone in yields, especially at the front end of the curve, while also outperforming safer havens and funding currencies amidst a broad upturn in risk sentiment due to perceivably less worrying pandemic assessments of late and underpinned by the PBoC cutting 50 bp off its RRR, as widely touted and flagged by Chinese Premier Li, with effect from December 15 - see 9.00GMT post on the Headline Feed for details, analysis and the initial reaction. Back to the Dollar and index, high betas and cyclicals within the basket are doing better as the latter meanders between 96.137-379 and well inside its wide 95.944-96.451 pre-weekend extremes. AUD/GBP/CAD/NZD - A technical correction and better news on the home front regarding COVID-19 after Queensland announced an earlier date to ease border restrictions, combined to give the Aussie a lift, but Aud/Usd is tightening its grip on the 0.7000 handle with the aid of the PBoC’s timely and targeted easing in the run up to the RBA policy meeting tomorrow. Similarly, the Pound appears to have gleaned encouragement from retaining 1.3200+ status and fending off offers into 0.8550 vs the Euro rather than deriving impetus via a rise in the UK construction PMI, while the Loonie is retesting resistance around 1.2800 against the backdrop of recovering crude prices and eyeing the BoC on Wednesday to see if guidance turns more hawkish following a stellar Canadian LFS. Back down under, the Kiwi is straddling 0.6750 and 1.0400 against its Antipodean peer in wake of a pick up in ANZ’s commodity price index. CHF/JPY/EUR - Still no sign of SNB action, but the Franc has fallen anyway back below 0.9200 vs the Buck and under 1.0400 against the Euro, while the Yen is under 113.00 again and approaching 128.00 respectively, as the single currency continues to show resilience either side of 1.1300 vs its US counterpart and a Fib retracement level at 1.1290 irrespective of more poor data from Germany and a deterioration in the Eurozone Sentix index, but increases in the construction PMIs. SCANDI/EM - The aforementioned revival in risk appetite, albeit fading, rather than Riksbank minutes highlighting diverse opinion, is boosting the Sek, and the Nok is also drawing some comfort from Brent arresting its decline ahead of Usd 70/brl, but the Cnh and Cny have been capped just over 6.3700 by the PBoC’s RRR reduction and ongoing default risk in China’s property sector. Elsewhere, the Try remains under pressure irrespective of Turkey’s Foreign Minister noting that domestic exports are rising and the economy is growing significantly, via Al Jazeera or claiming that the Lira is exposed to high inflation to a degree, but this is a temporary problem, while the Rub is treading cautiously before Russian President Putin and US President Biden make a video call on Tuesday at 15.00GMT. In commodities, WTI and Brent front month futures are firmer on the day with the complex underpinned by Saudi Aramco upping its official selling prices (OSPs) to Asian and US customers, coupled with the lack of progress on the Iranian nuclear front. To elaborate on the former; Saudi Arabia set January Arab light crude oil OSP to Asia at Oman/Dubai average +USD 3.30/bbl which is an increase from this month’s premium of USD 2.70/bbl, while it set light crude OSP to North-West Europe at ICE Brent USD -1.30/bbl vs. this month’s discount of USD 0.30/bbl and set light crude OSP to the US at ASCI +USD 2.15/bbl vs this month’s premium of USD 1.75/bbl. Iranian nuclear talks meanwhile are reportedly set to resume over the coming weekend following deliberations, although the likelihood of a swift deal at this point in time seems minuscule. A modest and fleeting boost was offered to the complex by the PBoC cutting RRR in a bid to spur the economy. WTI Jan resides on either side of USD 68/bbl (vs low USD 66.72/bbl) whilst Brent Feb trades around USD 71.50/bbl (vs low 70.24/bbl). Over to metals, spot gold trades sideways with the cluster of DMAs capping gains – the 50, 200 and 100 DMAs for spot reside at USD 1,792/oz, USD 1,791.50/oz and USD 1,790/oz respectively. Base metals also saw a mild boost from the PBoC announcement – LME copper tested USD 9,500/t to the upside before waning off best levels. US Event Calendar Nothing major scheduled DB's Jim Reid concludes the overnight wrap We’re really at a fascinating crossroads in markets at the moment. The market sentiment on the virus and the policymakers at the Fed are moving in opposite directions. The greatest impact of this last week was a dramatic 21.1bps flattening of the US 2s10s curve, split almost evenly between 2yr yields rising and 10yrs yields falling. As it stands, the Fed are increasingly likely to accelerate their taper next week with a market that is worried that it’s a policy error. I don’t think it is as I think the Fed is way behind the curve. However I appreciate that until we have more certainly on Omicron then it’s going to be tough to disprove the policy error thesis. The data so far on Omicron can be fitted to either a pessimistic or optimistic view. On the former, it seems to be capable of spreading fast and reinfecting numerous people who have already had covid. Younger people are also seeing a higher proportion of admissions which could be worrying around the world given lower vaccinations levels in this cohort. On the other hand, there is some evidence in South Africa that ICU usage is lower relative to previous waves at the same stage and that those in hospital are largely unvaccinated and again with some evidence that they are requiring less oxygen than in previous waves. It really does feel like Omicron could still go both ways. It seems that it could be both more transmittable but also less severe. How that impacts the world depends on the degree of both. It could be bad news but it could also actually accelerate the end of the pandemic which would be very good news. Lots of people more qualified than me to opine on this aren’t sure yet so we will have to wait for more news and data. I lean on the optimistic side here but that’s an armchair epidemiologist’s view. Anthony Fauci (chief medical advisor to Mr Biden) said to CNN last night that, “We really gotta be careful before we make any determinations that it is less severe or really doesn’t clause any severe illness comparable to Delta, but this far the signals are a bit encouraging….. It does not look like there’s a great degree of severity to it.” Anyway, the new variant has taken a hold of the back end of the curve these past 10 days. Meanwhile the front end is taking its guidance from inflation and the Fed. On cue, could this Friday see the first 7% US CPI print since 1982? With DB’s forecasts at 6.9% for the headline (+5.1% for core) we could get close to breaking such a landmark level. With the Fed on their media blackout period now, this is and Omicron are the last hurdles to cross before the FOMC conclusion on the 15th December where DB expect them to accelerate the taper and head for a March end. While higher energy prices are going to be a big issue this month, the recent falls in the price of oil may provide some hope on the inflation side for later in 2022. However primary rents and owners’ equivalent rents (OER), which is 40% of core CPI, is starting to turn and our models have long suggested a move above 4.5% in H1 2022. In fact if we shift-F9 the model for the most recent points we’re looking like heading towards a contribution of 5.5% now given the signals from the lead indicators. So even as YoY energy prices ease and maybe covid supply issues slowly fade, we still think inflation will stay elevated for some time. As such it was a long overdue move to retire the word transitory last week from the Fed’s lexicon. Another of our favourite measures to show that the Fed is way behind the curve at the moment is the quits rate that will be contained within Wednesday’s October JOLTS report. We think the labour market is very strong in the US at the moment with the monthly employment report lagging that strength. Having said that the latest report on Friday was reasonably strong behind the headline payroll disappointment. We’ll review that later. The rest of the week ahead is published in the day by day calendar at the end but the other key events are the RBA (Tuesday) and BoC (Wednesday) after the big market disruptions post their previous meetings, Chinese CPI and PPI (Thursday), final German CPI (Friday) and the US UoM consumer confidence (Friday). Also look out for Congressional newsflow on how the year-end debt ceiling issue will get resolved and also on any progress in the Senate on the “build back better” bill which they want to get through before year-end. Mr Manchin remains the main powerbroker. In terms of Asia as we start the week, stocks are trading mixed with the CSI (+0.62%), Shanghai Composite (+0.37%) and KOSPI (+0.11%) trading higher while the Nikkei (-0.50%) and Hang Seng (-0.91%) are lower. Chinese stock indices are climbing after optimism over a RRR rate cut after Premier Li Kequiang's comments last week that it could be cut in a timely manner to support the economy. In Japan SoftBank shares fell -9% and for a sixth straight day amid the Didi delisting and after the US FTC moved to block a key sale of a company in its portfolio. Elsewhere futures are pointing a positive opening in US and Europe with S&P 500 (+0.46%) and DAX (+1.00%) futures both trading well in the green. 10yr US Treasury yields are back up c.+4.2bps with 2yrs +2.6bps. Oil is also up c.2.2% Over the weekend Bitcoin fell around 20% from Friday night into Saturday. It’s rallied back a reasonable amount since (from $42,296 at the lows) and now stands at $48,981, all after being nearly $68,000 a month ago. Turning back to last week now, and the virus and hawkish Fed communications were the major themes. Despite so many unknowns (or perhaps because of it) markets were very responsive to each incremental Omicron headline last week, which drove equity volatility to around the highest levels of the year. The VIX closed the week at 30.7, shy of the year-to-date high of 37.21 reached in January and closed above 25 for 5 of the last 6 days. The S&P 500 declined -1.22% over the week (-0.84% Friday). The Stoxx 600 fell a more modest -0.28% last week, -0.57% on Friday. To be honest both felt like they fell more but we had some powerful rallies in between. The Nasdaq had a poorer week though, falling -c.2.6%, after a -1.9% decline on Friday. The other main theme was the pivot in Fed communications toward tighter policy. Testifying to Congress, Fed Chair Powell made a forceful case for accelerating the central bank’s asset purchase taper program, citing persistent elevated inflation and an improving labour market, amid otherwise strong demand in the economy, clearing the way for rate hikes thereafter. Investors priced in higher probability of earlier rate hikes, but still have the first full Fed hike in July 2022. 2yr treasury yields were sharply higher (+9.1bps on week, -2.3bps Friday) while 10yr yields declined (-12.0bps on week, -9.1bps Friday) on the prospect of a hard landing incurred from quick Fed tightening as well as the gloomy Covid outlook. The yield curve flattened -21.1bps (-6.8bps Friday) to 75.6bps, the flattest it has been since December 2020, or three stimulus bills ago if you like (four if you think build back better is priced in). German and UK debt replicated the flattening, with 2yr yields increasing +1.3bps (-0.7bps Friday) in Germany, and +0.3bps (-6.7bps) in UK this week, with respective 10yr yields declining -5.3bps (-1.9bps Friday) and -7.8bps (-6.4bps Friday). On the bright side, Congress passed a stopgap measure to keep the government funded through February, buying lawmakers time to agree to appropriations for the full fiscal year, avoiding a disruptive shutdown. Positive momentum out of DC prompted investors to increase the odds the debt ceiling will be resolved without issue, as well, with yields on Treasury bills maturing in December declining a few basis points following the news. US data Friday was strong. Despite the headline payroll increase missing the mark (+210k v expectations of +550k), the underlying data painted a healthy labour market picture, with the unemployment rate decreasing to 4.2%, and participation increasing to 61.8%. Meanwhile, the ISM services index set another record high. Oil prices initially fell after OPEC unexpectedly announced they would proceed with planned production increases at their January meeting. They rose agin though before succumbing to the Omicron risk off. Futures prices ended the week down again, with Brent futures -3.67% lower (+0.55% Friday) and WTI futures -2.57% on the week (-0.15% Friday). Tyler Durden Mon, 12/06/2021 - 07:51.....»»

Category: smallbizSource: nytDec 6th, 2021

44 sentimental gifts that"ll make anyone feel loved, from a family cookbook heirloom to an astrological birth chart

Thoughtful mementos are a way to show someone they're valued and loved. Here are 44 sentimental gifts to make them feel extra special. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Birthdate co. For those feeling extra softhearted this year, we put together a list of sentimental gift ideas. From personalized gifts to meaningful flowers, you're sure to find inspiration for anyone. Still looking for a gift? Check out our list of the All-Time Best products we've ever tested. If you always give generic gifts, select something off a wishlist, or just send a gift card, you're not alone. It can be difficult to think beyond the practical to select items that will delight and surprise your giftee. If you're looking to truly impress your loved ones, you'll want to choose gifts that are custom, unique, and thoughtful. You can convey just how much you care by referencing fun memories, inside jokes, and hidden interests.We've compiled 44 sentimental gifts, which include a flower subscription, a customized puzzle, a personalized photo book, and more. Each of these gifts are sure to make your giftee feel special and remind them of loving memories and events. If you're looking for more gift ideas, be sure to check out all of our gift guides here.Below are 44 sentimental gift ideas:A personalized gift boxGreetablPersonalized Gift Box, available at Greetabl, from $19Let them know you're thinking of them with a cute custom gift box from Greetabl. Choose to a mini gift like caramels or chocolates, a gift card, and add a note and photos to be delivered to their door. A monogrammed vegan leather passport coverMark and GrahamFillmore Vegan Leather Passport Case, available at Mark and Graham, $39 ($12.50 monogram fee)For the giftee who loves to travel, a passport cover is a great gift. You can have their initials monogrammed onto the cover to add a thoughtful and special touch to the gift. A name bracelet with handwritten letteringEtsyHandwriting Bracelet, available at Etsy, $37A custom piece of jewelry is already a thoughtful gift but this handwritten bracelet from Etsy goes the extra mile. Surprise your gift recipient with a gold, sterling silver, or rose gold bracelet with words on it written in yours or a loved-ones' handwriting. A family cookbook to pass downUncommon GoodsMy Family Cookbook, available at Uncommon Goods, $30The My Family Cookbook is a sweet gift that will keep on giving. After having various family members add recipes, the book can become an heirloom gift that gets passed down to generations. A personalized children's bookAmazonGoodnight Little Me Personalized Book, available at Amazon, $39.99The Goodnight Little Me book is a sweet gift for new parents or your favorite kids. This custom bedtime book can be personalized with any child's name and includes gorgeous illustrations from the designer of the Harry Potter series' US covers. Check out our guide to the best gifts for new parents for more gift-giving ideas. A mug with handwritten wordsLittle Gem Girl/EtsyLoved Ones Handwriting Coffee Mug, available at Etsy, $29A mug with a meaningful message is a tender gift for people who may have lost a loved one or who live far away. You can customize this mug with any words you want, printed in your handwriting or someone else's.A floral paint-by-numbers kitUncommon GoodsBirth Month Flower Paint-by-Number Kit, available at Uncommon Goods, $30Inspired by the birth month of your gift recipient, this paint-by-numbers kit is a gift and a fun activity rolled into the one. The kit lets them create a painting of the flowers for their respective birth month, along with an explanation of the characteristics of each month and flower. For example, October is a marigold that represents optimism and positive energy.A monogrammed notebookPapierScallop Spine Notebook, available at Papier, $26.99Whether they love making lists or jotting down new ideas, every writer needs a durable, trusted notebook to store their notes and stories. These unique notebooks can be customized with a monogram and lined, dotted, or plain pages. The notebooks come in solid colors and several fun designs, including the brands The Pahari, Constellation, and Colourblock styles.A set of low-maintenance plantsThe SillPlant Parent Set, available at The Sill, from $48Add some greenery into their space with this set of easy-to-care-for plants from The Sill. Choose from sets of three to seven plants that change seasonally.A fresh flower subscriptionFresh SendsThe Send Bouquet, available at Fresh Sends, from $55Instead of gifting flowers solely during holidays and special occasions, send them beautiful arrangements on a more consistent basis with a subscription from Fresh Sends. Choose from three delivery frequencies and two size options for a unique bouquet every time.A calendar full of cherished personal photosArtifact UprisingPersonalized Walnut Desktop Photo Calendar, available at Artifact Uprising, from $35Photos of loved ones are an instant source of joy. Structuring your daily life around them with a calendar is a great way to fill each day with more gratitude and happiness. Artifact Uprising's desktop calendar is sustainably made from reclaimed wood and fully customizable. You can also choose the calendar's starting month, so you don't have to wait for a new year to create one.A book for your favorite astrology loverBirthdate Co.The Birthdate Book, available at Birthdate Co., $115If they know their sun, moon, and rising sign, this made-to-order astrology book will make the perfect gift. Provide their birthday and time of birth, and the company will create a 70-page book with information and insights customized from their birth chart.One Insider Reviews writer said the book felt extremely personalized, and no two books are the same.A cube of conversation-starting prompt cardsUncommon GoodsTable Topics cards, available at Uncommon Goods, $25Never experience another boring dinner again with these cards from Table Topics. Each cube comes with 135 thought-provoking topic cards to help keep your meals and relationships interesting.With six themed options ranging from card sets for families, couples, and friends, you'll give them the chance to get to know everyone in their life a little better.A customized puzzleEtsyCustomizable photo puzzle, available at Etsy, $31.49Help them stay entertained by gifting them a customized puzzle of their favorite picture. This puzzle also comes with a customized box, making this gift even more special. Choose from any image to commemorate a special event, remember a great vacation, or show love to their favorite pet.A video montage of and from their loved onesMontageA video montage of their loved ones, available at Montage, from $29Ask their friends and family to record and upload videos to be automatically compiled, scored, and delivered for a thoughtful present that's sure to bring on happy tears.An astrology necklaceMejuriA necklace with their zodiac symbol, available at Mejuri, from $75If they're into astrology, get them their zodiac sign in gold. Mejuri offers all signs in its Zodiac Collection in gold vermeil, sterling silver, and 14k yellow gold.A set of socks with their pet's face printed on themTribe SocksCustom Socks with Your Pet's Face, available at Tribe Socks, $24For dog- or cat-lovers, a pair of custom socks with their pet printed on them is a lighthearted but thoughtful gift. For more inspiration for pet-themed gifts, take a look at our guide to the best gifts for dog owners.A custom night sky star map to commemorate a birth, anniversary, or any other dayStarry MapsCustom star map print, available at Starry Maps, from $55Commemorate any special night of their (or your) life by getting it printed on museum-quality 200gsm Matte paper or on canvas.An e-gift card to GoldbellyGoldbellyAn e-gift card, available at Goldbelly, from $25Whether you spend most of your time together trying out different recipes — or they're often treating you to a delicious meal — you may want to turn your gift into a thoughtful, shared experience. Wherever they are in this big old world, they can call in any comforting favorite they please from Goldbelly.A bottle of bourbon as unique as they areReservebarJefferson's Ocean: Aged At Sea Bourbon, available at Reservebar, $79If they're bourbon drinkers, nautical lovers, or both, they might just cherish this forever.An Airbnb gift cardYou could take a coffee masterclass with a national judge in Mexico via Airbnb Online Experiences.AirbnbAn Airbnb Gift Card toward the experience of their dreams, available at Airbnb, from $50Travel might not be an option right now, but Airbnb is currently offering Online Experiences held by instructors from around the world. Treat them to a coffee master class, history lesson, or even a dance class. And in the meantime, they can daydream about their next far-flung adventure or cozy staycation. A custom map posterGrafomapCustom map poster, available at Grafomap, from $49Grafomap is a website that lets you design posters with maps of any place in the world — including their hometown, college town, or favorite travel destination. A personalized photo bookSnapfish/Business InsiderPersonalized Snapfish photo book, available at Snapfish, from $12.99Convert their pile of photos and favorite mementos into one glossy book they can showcase around the home for a cohesive, beautiful keepsake. Expertly framed memoriesFramebridgeFramed photo, available at Framebridge, from $25Framebridge gift card, available at Framebridge, from $25Framebridge makes custom framing for not-custom-framing prices. You can print or paint something on your own and have it framed, or have them print and frame it. You can take advantage of a team of designers to help decide what frame to get.An engraved timepieceUncommon GoodsPersonalized watch, available at Timex, from $75If you're looking for subtle and impactful, engraving a watch is a classic for a reason. They can keep it forever, wear it every day, and know how much personal significance it has without always answering questions from onlookers. It's functional, thoughtful, and timeless.A custom-made comic book telling your shared storyEtsyCustom comic book, available at Etsy, from $433.88If you have the means, few comic book nerds would turn down owning a detailed, beautifully designed comic book featuring them as the lead character or superhero or a comic book version of the story of how they met their partner.Purchase the comic, email the makers telling them the story, and send photos of the characters and event setting to make sure everything looks right. You'll see a rough draft, send back any edits you have, and they'll complete the final copy. Opt for a digital print (emailed) or get it sent to you as a canvas print.A personalized letter necklaceAUrateMini Letter Charm Pendant with White Diamonds, available at AUrate, $560AUrate offers engravings and personalized jewelry, like this necklace with a mini letter charm. Pick a letter and select from 14-karat or 18-karat white, yellow, or rose gold. Learn more about online startups making sustainable, relatively affordable fine jewelry here.A framed quoteMintedPersonalized custom quotes, available at Minted, from $38Frame one of their favorite quotes, lyrics, or sayings and customize everything from font color to matting to make it theirs.A family portrait that includes petsHappyMomentsArts/Etsy/Business InsiderCustom family portrait, available at Etsy, from $15A perfect gift for a couple or a family, you can get a digital download of a custom family portrait that includes their furry roommates.A custom pet portraitCanvasPopCustom pet portrait, available at CanvasPop, from $89If they love their pet more than pretty much anything in the world, a Pet Portrait immortalizing them is a uniquely thoughtful gesture — and decor they're unlikely to have already. You can also get them a custom painting (from $250) if that's more their style or a framed print (from $35.55) of them with their pet.A cute set of mugsUncommon GoodsPersonalized family mugs, available at Uncommon Goods, from $30Turn your family or friends or a newly engaged couple into characters that actually look like them. One side features the artists' depiction of them (personalized through your choices of skin tone, hair, and clothing color) and the mug owner's first name, while the other displays your family name and year established — for friends, this could be the year you met. Turn meaningful audio into artEtsySoundwave art print, available at Etsy, from $70Send in a song and artist or email an audio file of you or a loved one speaking, and this Etsy shop will turn it into personalized sound-wave art. This gift is particularly thoughtful for long-distance relationships or for commemorating a loved one.Long-distance touch lampsUncommon GoodsSet of two Filimin Long-Distance Touch Lamps, available at Uncommon Goods, from $85Everyone is busy these days, and it's not as easy to keep up with loved ones as we all wish. A set of paired lamps, one of which lights up when the other is touched, lets them know you're still thinking of them even when you don't have time to talk. One Insider Reviews editor uses them to keep in touch with her parents.Brightly embroidered pillows of their favorite stateUncommon GoodsHand Embroidered State Pillows, available at Uncommon Goods, $225Bring their favorite state to them with detailed and brightly embroidered pillows that pay homage to each state's cities and cultural touchpoints. A photo print of an important life momentUncommon GoodsIntersection of Love Frame, available at Uncommon Goods, from $75Commemorate the moment their paths first crossed in a sophisticated, unique design.Personalized wine labelsTopBananaPrints/Etsy/Business InsiderCustom wine labels, available at Etsy, from $4.47Celebrate a loved one's birthday, achievements, or new life stages such as a marriage with a bottle of wine and a thoughtful, personalized label they'll want to keep. The blueprint of a beloved ski resortUncommon GoodsSki resort blueprints, available at Uncommon Goods, from $75Whether they grew up on the slopes or drag friends and family along as adults, skiers can take their favorite slopes home with them with this blueprint-inspired art. Featuring iconic ski resorts such as Park City, Vail, and Breckenridge, each officially licensed print is created with a vintage, distressed finish and contains detailed historical and statistical facts about the area.A bound book of love letters, curated from A-ZUncommon GoodsHow Do I Love Thee From A-Z, available at Uncommon Goods, $20Follow 26 prompts laid out in old-school typewriter font to leave your loved one with a bound book of love letters they can keep forever. It's the perfect spot for recording your favorite romantic moments, memories, inside jokes, and all the tiny and enormous reasons why you love them. A poster of you and a loved one styled as your favorite drinksoflifeandlemons/Etsy/Business InsiderPersonalized drinks print, available at Etsy, $22.95Whether you're turning a best friend or a lifelong partner into a cocktail avatar, the quirky Personalized Drinks Print is a sweet and fun approach to sentimental gifting. A portable printerTargetPolaroid Hi-Print Printer, available at Target, $99.99Polaroid's Wireless Mini Printer prints mini photos from your phone or tablet using a WiFi connection. It's small enough to stow in a purse for travel, and there are customizable features like stickers, filters, and borders to edit photos within the Polaroid app. A reel viewer filled with snapshots of old memoriesUncommon Goods/Business InsiderCreate your own reel viewer, available at Uncommon Goods, from $14.95As a kid, flipping through a reel viewer was one of life's greatest joys. Just because they're all grown up doesn't mean they won't like playing with the gadget. Fill the reel with snapshots of their most cherished memories (use the redemption code included with your viewer) for a gift that'll flood them with all sorts of nostalgia.A custom watercolor of their wedding venueJustArtinAround/EtsyCustom watercolor wedding venue illustration, available at Etsy, from $35.99For a deeply thoughtful gift for newlyweds, commission a custom watercolor of their wedding venue or location. All you'll have to do is send the artist a photo of the location, the couple's first and last names, and the wedding date. A candle that smells like homeUncommon GoodsHomesick Candles, available at Uncommon Goods, from $34It's hard to put a finger on just what makes home smell like home, but a whiff of a Homesick candle will transport them there with its nostalgia-inducing scents. Uniquely specific scents are made to capture the ethos of states and cities or memories like road trips, backyard BBQs, and cooking in Grandma's kitchen.If they're far from home, this affordable candle is a small but meaningful gesture that can bring them just a little closer. A cutting board that memorializes a meaningful recipeUncommon GoodsFamily Recipe Cutting Board, available at Uncommon Goods, $100There's something about family recipes that make them taste even better. This cutting board offers a unique way to preserve those special favorites. Ingredients and directions are engraved on solid cherry wood and can even be etched in the recipe writer's handwriting. Read the original article on Business Insider.....»»

Category: dealsSource: nytDec 3rd, 2021

Alec Baldwin"s first interview since the fatal "Rust" shooting airs December 2 — here"s how to watch on ABC and Hulu

Actor Alec Baldwin spoke with George Stephanopoulos of ABC News about the shooting that killed a filmmaker and injured another on the set of 'Rust.' Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Alec Baldwin speaking to ABC in his first interview.ABC ABC News will air Alec Baldwin's first interview since his involvement in a fatal shooting on the set of "Rust." Baldwin says he didn't pull the trigger on the gun that killed Halyna Hutchins and injured another. The interview will air on December 2 at 8 p.m. ET on ABC, and will be available to stream on Hulu later. In his first interview since his alleged involvement in the shooting that killed cinematographer Halyna Hutchins and injured director Joel Souza, Alec Baldwin says he did not pull the trigger on the weapon that fired a live round on the set of "Rust."ABC News will air Baldwin's interview with George Stephanopoulos on December 2 at 8 p.m. ET. The special, titled "Alec Baldwin Unscripted," will be added to Hulu to stream after it airs, though ABC hasn't specified exactly what time it will become available for on-demand viewing.Previews for the exclusive interview include Baldwin telling Stephanopoulos that he didn't intentionally fire the weapon that killed Hutchins. However, Baldwin was holding the antique revolver that fired a live round during an October 21 dress rehearsal for "Rust." Baldwin is both a lead actor and co-producer for the film.The incident sparked concern across the film industry, with many questioning how a live round could end up in a prop weapon or on a professional film set. Hutchins' death has also prompted criticism and calls for improved safety standards for Hollywood productions.ABC is also producing a two-hour episode of "20/20" that will delve further into the "Rust '' shooting and the ongoing investigations of the incident. It will air December 10 at 9:01 p.m. ET, and will stream on Hulu starting December 11.How to watch 'Alec Baldwin Unscripted'ABC News' exclusive interview with Alec Baldwin is formally titled "Alec Baldwin Unscripted." The program is hosted by George Stephanopoulos and will air on ABC at 8 p.m. ET on December 2.If you don't have access to the ABC network, you can stream the interview on Hulu that same night, though ABC hasn't said what time it will be ready to stream. Hulu starts at $7 a month for the ad-supported plan and $13 a month for the ad-free plan. The service is available on Apple, Android, Roku, Fire TV, Xbox, PlayStation, and most smart TVs.If you have a cable subscription, you can also log in to ABC.com with your provider information to watch "Alec Baldwin Unscripted" as it airs. Live TV services like Hulu + Live TV, FuboTV, YouTube TV, and DirectTV Stream also have live access to ABC. That said, if you don't already have a subscription to one of those services, you're better off spending less money for standard Hulu and streaming the interview on-demand.Read the original article on Business Insider.....»»

Category: personnelSource: nytDec 2nd, 2021

34 unique and thoughtful gifts your husband will love, from stylish clothes to the latest tech

From sweet treats to items that will get him a better night's rest, these 34 gifts tell your partner how much he means to you. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Inside this curated cocktail kit, he'll find all the top-shelf spirits and ingredients he needs to bring two creative cocktail recipes to life.Saloon Box Celebrate your partner with a gift that he'll love to keep around.  Our 34 gift ideas include blue-light glasses, delicious cakes and cookies, and lounge pants. Still looking for a gift? Check out our list of the All-Time Best products we've ever tested. The holidays are a great time to splurge on a gift for your husband or partner. Whether you're looking for a gift to supplement his hobbies or something you can enjoy together, we have a wide range of ideas that he's sure to love.Whether he has a sweet tooth or needs a better night's sleep, these 34 gifts tell your partner how much he means to you. And if you have kids, some of the gifts might even benefit the whole family. The 2021 holiday shopping season is feeling the effects of the coronavirus pandemic. Many manufacturers are experiencing supply-chain issues that limit their stock. Delays in shipping are also widespread. We recommend paying close attention to shipping times when ordering products to ensure they will arrive on time.Here are the best gifts for husbands in 2021A waterproof speakerJBLGift the JBL Clip 3 Portable Bluetooth Speaker, $49.95Portable Bluetooth speakers are ideal for rocking out on the go. The JBL Clip 3 is great because it's affordable and waterproof so he can listen to tunes or catch up on podcasts in the shower.For more great options, check out our guide to portable Bluetooth speakers.A high-quality electric razorBraunGift the Braun Series 7 (7085cc) Electric Razor, $149.94The Braun Series 7 is tops in our guide to the best electric razors for several reasons. It senses the thickness of his beard and automatically adjusts the power for a clean one-pass shave. The shaver has a 50-minute runtime, and it's waterproof for wet use.A GPS smartwatchJames Brains/InsiderGift the Garmin Forerunner 945 GPS Smartwatch, $599.99A good GPS fitness tracker is a must for anyone who runs outdoors. The Garmin Forerunner 945 is as good as it gets. The watch supports hundreds of apps, including Spotify, so he can stream music without having to lug around his phone. I like that I can enable the watch to send my location to my wife when I run. That way, if something happens, she can find me easily.If the 945 is out of your price range, consider one of these fitness tracker watches.A fashionable leather walletBellroyGift the Bellroy Apex Slim Sleeve Wallet, $129Bellroy's Apex Slim Sleeve isn't your dad's wallet. Made of eco-friendly leather, it fits folded bills and up to eight cards. A magnet keeps the sleeve closed. And, it features RFID protection to keep personal information safe. A snack box subscriptionTokyoTreatGift a 3-month TokyoTreat subscription, $106.50Who doesn't love snacks? If your husband is an adventurous eater, he'll love a TokyoTreat subscription. Each month, he receives 17 unique snacks from Japan, including fun KitKat flavors. Check out our guide for other snack subscription box ideas.Stylish, sustainable sneakersNothing NewGift a pair of Nothing New Sneakers, from $95What's better than giving the special eco-conscious guy in your life a stylish pair of shoes? Giving him shoes that are made from 100% post-consumer recycled plastic. With a style similar to Chuck Taylor All-Stars, Nothing New sneakers come in several colors, and each pair saves 160 gallons of water and keeps 5.6 plastic bottles out of landfills.You can read our full review of Nothing New Sneakers here.Waterproof bone-conduction sport headphonesAmazonGift the AfterShokz Aeropex Bone Conduction Sport Headphones, $129.95Any active person who likes to bring their tunes or podcasts on workouts will tell you it's hard to find comfortable headphones. This is especially true if you have unique ears. Bone conduction headphones are fabulous because they don't depend on your ear shape to provide comfortable listening. A smart-home light starter kitPhilipsGift the Philips Hue White and Color LED Smart Button Starter Kit, $275.63One of the biggest gripes many dads have around the house is, "Who left the lights on?" If your partner has a similar commitment to the environment, thrift, and complaining, a smart light kit is the way to go. If the Philips Hue Starter Kit is out of your price range, check out our guide to the best smart light bulbs for more options.A wagyu steak gift boxBlack Hawk MeatsGift a box of American Wagyu steaks, from $49Wagyu steak is prized for its high fat content, which makes it melt-in-your-mouth delicious. The gift boxes from Black Hawk Farms offer an affordable way for the meat lover in your life to experience American Wagyu. Thanks to the extensive marbling, I like that even a cheaper cut of American Wagyu comes off the grill tender, juicy, and flavorful.A portable fire pit and grillBioLiteGift the BioLite FirePit+, $187.46If your husband enjoys camping and grilling, the BioLite FirePit+ is a must-have. It features a built-in fan that allows him to adjust the heat easily and control the smoke. It's our favorite outdoor fireplace and grill because it cooks efficiently, is easy to transport, and protects you from getting a faceful of smoke.A water bottle with a built-in purification systemAmazonGift the Grayl Ultralight Water Purifier [+ Filter] Bottle, $69.95If he's a traveler or adventurer, he'll appreciate this water purifier bottle that lets him access clean drinking water no matter where he is. It doesn't just filter out sediments and chemicals like chlorine; it gets rid of 99.9% of viruses, disease-causing bacteria, and more with a purifying filter that includes positively charged ions to cling into negatively charged pathogens and activated carbon to catch chemicals.   Silicone rings that look like the real thingEnso RingsGift the Enso Rings Classic Elements Silicone Ring, $39.99Silicone rings are great alternatives to metal wedding bands for anyone with an active lifestyle, even if it's just a weekly game of golf. The silicone won't get scratched or bent out of shape, and it's sweatproof and easily washable, too. Delicious cookies and truffle ballsMilk BarGift the Milk Bar Party of Two set that includes a 6-inch B'Day Cake and 12 B'Day Cake Truffles, $75If he lives every day like it's his birthday, he'll love digging into Milk Bar's B'Day Cake Truffles and 6-inch B'Day Cake. Items are packed securely and can be shipped nationwide. There's a $15 flat rate shipping on all orders.A Disney+ subscriptionAlyssa Powell/Business InsiderSubscribe to Disney+ for $79.99/yearDisney+ gives him unlimited access to movies and shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and 20th Century Fox and costs $79.99 a year after a free seven-day trial. Read everything there is to know about Disney+ here.And if he needs some binge-spiration, here are all the new movies available to stream.A convenient way for him to discover new productsBirchbox InstagramGift a Birchbox Grooming 3-Month Subscription Gift Card, $45If he doesn't have the time and energy to hunt down new skincare and hair-care products, hand him over to Birchbox. The service will send him five samples catered to his hair, skin, and personal style every month. Breathable, supportive golf socksBombasGift the Bombas Performance Golf Ankle Sock 3-Pack, $49.50Little details, like the mesh under-toe ventilation zone, will make him appreciate these performance socks specially designed to up his golf game. Would it be extreme to attribute his birdie to Bombas? A gift card from one of our favorite activewear brandsRhoneGift a Rhone Gift Card, from $20Rhone makes some of our favorite workout gear for both inside and outside of the gym. Plus, the e-gift card is immediately sent upon purchase, so there's no need to wait for shipping. A vinyl record subscriptionVNYL InstagramGift a Vnyl subscription, from $29Vnyl's curators look at his music tastes, member profile, and Spotify playlists to send three records he'll want to dive into immediately. The included handwritten note explaining the suggestions makes the experience feel more like he's stepped into a record store. A sleek portable charger for his laptop and phoneAmazonGift the Anker PowerCore+ 26800 PD 45W, $159.99 If he travels often, he's probably taking along all his tech — laptop, phone, e-reader, and more. All those gadgets have their own chargers, which can be frustrating to keep track of and take up space in his luggage, too. Anker's device can help him streamline and replace a few of the major chargers. It's a portable battery pack with enough power to charge a laptop and comes with a wall charger and USB-C to C cable so it can replace most, if not all, of his other cords and cables. Silky soft lounge pants that fit like a second skinTommy JohnGift a pair of Tommy John Lounge Pants, from $58The brand's beloved lounge pants are delightfully airy, stretchy, and soft. Matching underwear in a fun printMeUndies InstagramGift a matching set of MeUndies Matching Underwear, from $42Choose your favorite underwear cuts (over 15 options), then go on to the fun part. Find a print so the two of you can match. MeUndies offers solid colors, but we love the adventurous, cartoon-splashed prints more. The actual underwear is very comfortable and soft.A mini cast iron skilletField Company InstagramGift the Field #4 Cast Iron Skillet, $95The smallest version of Field Company's lightweight and smooth vintage-style cast iron is the perfect size for cooking small sides. Cookies that look like himEtsyGift the Custom Portrait Cookie Cutters from Etsy, from $30Having his likeness recreated on these delicious cookies is a gift he'll never forget. Make sure to take a side-by-side photo before he eats them all. A protective spray that keeps his shoes shiny and newAmazonGift the Jason Markk Repel Spray, $17If he loves shoes, he should have the right products to take care of his favorite footwear. This spray protects shoes from water and oil stains, and there are multiple people on our team who swear by it for every new pair of shoes they get. Creatively sentimental cufflinksLove LetterGift Uncommon Goods' Love Letter Cufflinks, from $80The tiny envelopes open up to reveal a small and thoughtful reminder. You can replace it and surprise him with your own sweet message, too.Vitamin-infused body washNecessaire InstagramGift the Necessaire Body Wash, $25Gender-neutral personal care brand Necessaire treats the body with clean, sustainable ingredients and vitamins. He'll love using the Eucalyptus or Sandalwood body washes to nourish his skin without stripping it of moisture. Glasses to reduce eye fatigueFelix Gray InstagramGift a pair of Felix Gray Sleep Glasses, from $145The blue light that comes off our screens affects sleep, so gift him these blue-light-blocking glasses. His eyes won't feel as tired or dry, and he might have an easier time drifting off to sleep. A framed photoMintedGift the Minted Best Dad Ever Frame, from $94.50You can never go wrong with a photo of the family framed by handcrafted wood or metal. The metallic foil gives it a special touch. Dress clothes that fit him perfectlySpier and MackayGift a Spier & MacKay Gift Card, from $50He can get custom-fit suits for surprisingly affordable prices from Canadian startup Spier & Mackay. Insider Reviews reporter Amir Ismael calls it the best choice "if you're having a treat-yourself moment or you need a shirt for a special occasion."A 15-pound weighted blanketJen Gushue/InsiderGift the Brooklinen Weighted Comforter, from $211.65This heavy weighted blanket will ease him to sleep after a long day, thanks to its comforting embrace. If this option doesn't feel quite right, check out our guide to the best weighted blankets.A new electric toothbrushQuipGift the Quip Electric Toothbrush, from $25With Quip's sleek metallic styles, this toothbrush is both a pretty and thoughtful gift. Because he'll always have a new brush head on the way via its subscription, you're also taking one more chore off his plate.A curated cocktail kitInside this curated cocktail kit, he'll find all the top-shelf spirits and ingredients he needs to bring two creative cocktail recipes to life.Saloon BoxGift a SaloonBox Cocktail Kit Box, $172.99Inside he'll find all the top-shelf spirits and ingredients he needs to bring two creative cocktail recipes to life. Rather than regret all the money spent on ingredients he'll only use once, he can refocus his energy to enjoying his boozy creation. A cool phone case and phone grip accessoryAmazonGift a Scooch Wingman Phone Case, $39.99It's a multi-talented force the likes of which the phone accessory world has never seen before — a grip, stand, car mount, and phone case, all in one convenient and sturdy package. Learn more about why we love it in our Scooch Wingman review.A staycationAirbnb/FacebookBook a unique online experience at Airbnb, price variesA staycation is a good excuse to get away from the kids for the weekend and reset, all while staying in your home. It'll help him appreciate a familiar place in a new light, and he'll return to his day-to-day with renewed energy and vigor. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 1st, 2021

How ‘Subscribe to Me’ Became the Future of Work

Creators are bumping up against the limits of the platforms they use In August, Savannah’s entire monthly income was at stake. OnlyFans, the social media platform where she built her career, making an average of $2,000 a month from subscribers, had just announced it would be removing content like hers from the site. But there was little she could do about it. She remembers thinking: “OK, well, this is another Thursday, I might as well finish my Chick-Fil-A, and I’m just gonna chill here and wait for us to get some sort of response.” Savannah, 24, is part of a vibrant, supportive community of online sex workers that underwrite OnlyFans’s considerable financial success; it’s now valued at over $1 billion. But in a move that may foreshadow changes to come, that community was shaken when OnlyFans announced it would be banning explicit content on the site. “The sky falls on OnlyFans, like, every three or four months,” Savannah says, wryly. [time-brightcove not-tgx=”true”] She could’ve gotten a more standard job when she graduated from college in 2020 with a business degree—maybe at a bank, as a mortgage loan officer. But while career-hunting, she was working three part-time jobs and her boyfriend at the time suggested trying out OnlyFans. She opened an account in January 2020, posting sassy videos and photos that showed off her passion for Star Wars cosplay and her cheeky sense of humor to attract subscribers. “It was nerve-wracking,” Savannah admits. At first, the subscribers just trickled in; she made $80 that month. Then the pandemic lockdowns started, and Savannah’s online star began to rise. “It was an extreme case of right place, right time,” she says. “Everyone was suddenly locked inside. And they were horny. And it just all came together.” By September 2020, she had earned enough money to buy her own house—a goal that had always seemed elusive with a traditional career path. “I never, ever thought that I would be stable enough to buy a house, period, in my lifetime,” she says. That sense of stability was put to the test by the new August policy—briefly. OnlyFans backtracked just days later. For many, online sex work is easy to ignore or view as the internet’s titillating sideshow. Historically, though, the conditions of sex work serve as an indicator of the health of a society, and the inconclusive OnlyFans incident could predict the future of the growing digital creator economy and its workers. Annie Flanagan for TIME“Not only has it absolutely changed the trajectory of my life forever, but I have fun, I’m my own boss,” says Savannah. Savannah considers herself half sex worker and half “online creator,” a burgeoning and nebulous category of workers who have turned to online platforms to profit off their talents and speak to niche audiences. But the creator economy that took off around 2011 with YouTube has evolved as creators seek autonomy over their intellectual property and freedom from brand sponsorships and social media restrictions. Writers, gamers, academics, sex workers, chefs, athletes, artists: anyone with a point of view, or a video to share, has flocked to sites like Twitch, OnlyFans, Patreon and Substack in hopes of selling their skills directly to their fans. A September study from the Influencer Marketing Factory estimates some 50 million people around the world participate in this economy, broadly—that’s a third the size of the entire U.S. workforce. The study valued the creator market north of $100 billion in 2021. Direct subscription creators are a fraction of that, but a rapidly growing one. There are over a million creators on OnlyFans; streaming platform Twitch boasts over 8 million active streamers; Patreon, which hosts pay-to-view visual and written content, says it has over 200,000 active accounts. And the money generated by this new class keep going up, with OnlyFans announcing it has facilitated over $3 billion in payouts to accounts since their founding five years ago. Patreon says its creator accounts have racked up over $2 billion. Twitch’s in-app purchases neared $200 million in the first half of 2021 alone. Creators skew Millennial and Gen Z; digital natives are, after all, more prepared to capitalize on and take risks online. One study from research firm PSFK suggested that over 50% of Gen Z Americans are interested in becoming an “influencer” as a career. But some of the most successful subscription creators—historian Heather Cox Richardson, musician Amanda Palmer, photographer Brandon Stanton, and model Blac Chyna—are in their 30s or older, and were well established in their careers before selling their skills online, a fact that lends the subscription creator economy more credence. These days, Savannah—who goes by Savannah Solo on her Twitter, Instagram, TikTok and OnlyFans pages—counts hundreds of thousands of subscribers to her public profiles, and 6,500 paying subscribers to her more risqué content on OnlyFans. She doesn’t want to stop. “Not only has it absolutely changed the trajectory of my life forever, but I have fun, I’m my own boss, I wake up and I put on makeup and I wear a stupid costume and make fun content. You can decide if you want to be a persona—or if you just want to be yourself,” she says. But, as she has learned in August, the reality of a creator career is more complicated. Annie Flanagan for TIMESavannah looks through OnlyFans messages while laying at home on Oct. 18. The problem with platforms The job title “creator” is a new invention, born in the past decade thanks to the rise of self-publishing opportunities. First there was YouTube, the ür-influencer platform. Then came Facebook, Twitter and Instagram. These web2 behemoths offered anyone the ability to build a fanbase with little more than an internet connection (and, for the most successful, access to a way to photograph or video themselves). At first, little money was transferred into the hands of the creators; success in the form of wide viewership was a badge of honor, not a moneymaking scheme. That changed with the rise of models in which creators received a cut of advertising associated with their content (like pre-roll video ads on YouTube) and sponsored content and ambassadorship programs (like many of Instagram’s influencer programs). This kept content free for fans while still paying the creators—and it’s the model that still dominates the market. But positioning image-conscious brands in between fans and creators who value authenticity is not always a natural fit. Brands drop creators when they post something the brand doesn’t like. Creators lose autonomy when they spend all their time crafting sponsored content. Enter the paid social media model, in which audiences can contribute directly to their favorite creators. “From the creators’ point of view, it gives them more control and empowerment,” says OnlyFans CEO and founder Tim Stokely, about the potential for direct-to-creator paid social media to be the economic engine of the online future. The company is famous for featuring sex worker creators like Savannah, but Stokely is pushing the platform’s PG accounts, where users can subscribe to a chef’s cooking videos or a trainer’s workouts. Read More: Why OnlyFans Suddenly Reversed its Decision to Ban Sexual Content Twitch was early to this game, launching in 2011. “The digital patronage model we see popping up today in other iterations exists because of Twitch’s early entry in and focus on the creator economy,” says Mike Minton, Vice President of Monetization at Twitch. Twitch prefers to consider itself a “service” rather than a platform: it serves creators with access to audiences and monetizes their viewership, and serves fans by making it easy to watch and contribute. But it’s not all profit for creators. Hidden in the slick appeal of be-your-own-boss social media entrepreneurialism is the role of the platforms themselves, and sticky questions of ownership. Twitch, for instance, provides the necessary infrastructure for popular gamers to stream hours of high-resolution content to mass audiences of live viewers. But it also takes a 50% cut of any subscriptions. OnlyFans says the 30% it takes helps offset the costs of the security and privacy features that adult content in particular requires. Patreon takes from 5 to 12%, depending on your plan; Substack takes 10%, minus processing fees. Consummate middlemen, these companies have created low barriers to entry while still gatekeeping, at least financially. “There’s a history of artists being taken advantage of, and artists have to keep criticizing and keep skepticism at a high level,” says Jack Conte, CEO of Patreon. “I think that’s mission critical. Artists have to be educated, and choose wisely and watch platforms carefully.” Patreon, for its part, offers its users full access to their email lists in an attempt to offer greater control over their audience relationships. Patreon has had its share of controversy: a 2018 kerfuffle surrounded their choice to ban certain politically-extreme voices from the platform; payment snafus and hikes in processing fees have ruffled feathers; and their current content policies exclude sexually explicit work, to the frustration of some. The company is eager to try to keep up with creator-favored trends, however, announcing plans to integrate crypto payments and considering developing “creator coins,” and developing a native video player to more directly compete with YouTube. Stokely doesn’t try to promise financial stability or freedom to OnlyFans’ million-plus creators, especially given the complications of banking regulations (on which the company blamed the brief August ban of sexual content). He knows that change is inevitable, but he does promise one thing: OnlyFans will not become “littered with paid posts and adverts” like the free platforms. Annie Flanagan for TIME“I wake up and I put on makeup and I wear a stupid costume and make fun content. You can decide if you want to be a persona—or if you just want to be yourself,” Savannah says. Navigating an unsteady landscape Writer and musician Amanda Palmer, 45, is intimately acquainted with the challenges of creative autonomy. Palmer, the frontwoman of indie rock duo the Dresden Dolls, extricated herself from an album deal a decade ago, choosing to embrace independence—with all its financial risks—and gather income from her fans directly. “There’s been a general shift in consciousness, that people are no longer scratching their heads when an artist or a creator comes to you directly and says, Hey, I need 10 bucks,” she says. “You’re seeing it in right wing podcasting. And you’re seeing it in feminist journalism on Substack. And you’re seeing it with musicians and gamers on Patreon, and you’re seeing it with porn stars on OnlyFans.” Palmer started a Patreon in 2015, where she now posts bits of music, videos and blog posts to 12,000 paying subscribers. The direct, monetized line of communication with her fans has meant she could weather the pandemic storm—when she couldn’t play live concerts—using honesty and openness in the content she shares as bartering coin for their cash. She says she has made over $5 million in subscriptions to support her creative endeavors, although her net profit mostly just pays rent and living expenses. Still, it has been an effective solution to the conundrum of monetizing fame and artwork for a niche audience. Read More: The Livestream Show Will Go On. How COVID Has Changed Live Music—Forever Palmer’s experience with Patreon is a prime use-case for the company: a non-major artist finds financial freedom through direct-to-consumer content sharing. “Because of what’s happened over the last 10 years, there’s now hundreds of millions of creative people who identify as creators, putting their work online and already making a lot of money and want to be paid and want to build businesses,” Conte says. “Patreon is tiny; compared to the amount of creators in the world, we’re a speck.” But with $2 billion in payouts over the years, it’s proved to be a meaningful speck for a collection of creators. Conte says that about half the money that Patreon processes goes to creators who are making between $1,000 and $10,000 per month. “It’s not Taylor Swift rich, it’s not Rihanna rich. It’s a middle class of creativity: a whole new world of creators that are being enabled by this,” he says. It’s a group like Palmer: people who have a specific viewpoint, a built-in audience and an effective grasp on how to optimize their dynamic with fans. Still, even Palmer, who has “very warm feelings” about Patreon, recognizes that it can’t be trusted forever. “I’ve been ringing the warning bells for years about how dangerous it is to get into bed with a for profit company, and use them as the only avenue to reach your audience, right? Because it is dangerous, because at any moment, Facebook can take that away from you, at any moment, Patreon could sell up to Facebook and decide to change all of the rules of engagement. I really hope that doesn’t happen. But there are no guarantees in this dog eat dog tech world,” she says. “In order to protect myself, I always keep a lot of phone lines open with my community.” Annie Flanagan for TIMESavannah looks through photos with her assistant Cay. Healthy skepticism, and solidarity In her Instagram photos, Jahara Jayde doesn’t look real: technicolor eyes, luminous, airbrushed skin, ears elongated into elven tips. In her five-plus-hour Twitch streams every evening, though, she’s a bit more human, video chatting in real time with her thousand-plus viewers and slurping noodles from an unseen bowl as she plays Final Fantasy XIV through her dinnertime. When she streams, it’s just her and her subscribers. But she has discovered how vital it is to have a community of creators in this business, too. Twitch averages nearly 3 million concurrent viewers; in 2020, people watched nearly 20 billion hours of content on the site. By nature of its freewheeling live video DNA, it’s a place that is hard to regulate and populated by a wide array of characters. “I deal with racism on all of the platforms,” says Jahara, a 30-year-old BIPOC woman, citing in particular a recent influx of “hate raids” targeting BIPOC and LGBTQ+ creators on Twitch. Some creators even led a day-long streaming boycott to draw attention to the issue. Twitch has had to regulate the use of certain words and emotes (their version of custom emojis) in user chats in order to limit problematic language and content. Because of—and despite—that, Jahara has built a keenly supportive, tight-knit community that is expanding the definition of what it means to be a gamer or a creator, and who gets rewarded for the work. She’s a member of The Noir Network, a collective of Black femmes who work in content creation and help each other navigate the often-confusing Wild West of digital work, one that she is committed to continuing with. She loves the work, she just wants to make it better. Read More: The Metaverse Has Already Arrived. Here’s What That Actually Means Jahara didn’t mean to become a full-time gaming streamer when she first tried out Twitch in August 2020; she was already a business analyst with a side gig as a Japanese tutor, making use of her college degree. But soon she was gaining steam with eager subscribers: she got 300 in a month, more than enough to start monetizing her streams. “I was like, Oh, maybe I could be good at this,” she says over the phone from her home in Arizona. After just four months on Twitch, Jahara quit her day job. These days, thanks to Twitch’s subscription system, she brings in about $2,000 a month. With her tutoring clients, who she picked up because of her Twitch, she’s now matching her prior income. “And it’s awesome, because it’s doing the two things that I absolutely adore,” she says. “Ever since I was a little kid, my dad used to bring me into his room and talk to me about how I should work for myself, and the entrepreneurial spirit,” she says. She surprised herself by being able to take his advice. She has the freedom to be herself professionally, the flexibility to take care of her four-year-old daughter in the mornings before preschool, and the hope that her fiancé will eventually be able to leave his job as a manual laborer to support her online presence full time. (He already takes and edits all her photos, and does her marketing.) To her, it feels good to be a part of something. “I get a lot of messages, parents and teens and kids that tell me, like, ‘My daughter saw your photos, and her friends told her that she couldn’t copy that character because it’s not the same color as her, but now she’s excited to do it,” Jahara says. “People tell me that they feel more comfortable, they feel represented and they feel seen just by being able to see my face in the space. It wasn’t something that I expected when I set out for it. But it’s something that definitely keeps me going every day.” It’s networks like that one that have helped organize and provide a modicum of power to creators who are learning as they go. Longtime adult performer Alana Evans, 45, has an inside view of how this works; as president of the Adult Performance Artists Guild, she has helped hundreds of performers navigate issues with tech platforms including Instagram, Tiktok, and, of course, OnlyFans. “I was seeing hundreds of performers lose their pages, for very obscure reasons; you would be given an email that had vague reasons as to why maybe you were deleted, and they were absorbing all of their money,” she says. She and her organization have been able to help many rehabilitate their accounts. But these days she preaches the gospel of diversification, and of making sure that performers do their due diligence about who owns and profits from the platforms they share on. Beyond that, Evans has her sights set on the big picture: working through legal avenues to classify anti-sex-work restrictions, like those set by payment companies, as “occupational discrimination.” It’s only once they deal with the banking side of things, Evans explains, that online sex workers will be able to participate in the creator economy fully and safely. Read More: U.S. Workers Are Realizing It’s the Perfect Time to Go on Strike Creators in the music industry are trying to find power by banding together, too. By day, David Turner, 29, is a program manager at the music streaming service SoundCloud. By night, he publishes a weekly newsletter, called Penny Fractions, that goes into the nitty-gritty of the streaming industry; it’s been his pet project for over four years now. After publishing with Patreon for a few years, Turner realized only a small segment of the most popular creators were truly generating the income the platform touted. “They don’t care about me,” he says over the phone from Brooklyn. Now, Turner hosts his newsletter on an independent service and serves on the board of Ampled, a music services co-op whose tagline is “Own Your Creative Freedom.” Collectivization, as Turner sees it, is the safest way for this next generation to protect themselves from the predations of the market. Other decentralized social platforms like Mastodon and Diaspora, music streaming services like Corite and Resonate and sex-worker-backed sites like PocketStars have popped up to provide alternatives to the more mainstream options. Their selling point: bigger payouts to creators, and opportunities for creators to invest in the platforms themselves. But mass adoption has been slow. If the calling card of the independent platform is their bottom-up approach, that is also their limiting factor. By nature, they are scrappier, less funded and less likely to be able to reach the wide audiences that the top user-friendly sites have already monopolized. Annie Flanagan for TIMESavannah dresses up in Star Wars cosplay as Padmé. The future for creators When OnlyFans made its policy change in August, collectivization is what got sex workers through. Alana Evans helped lead the charge. To Evans, who has been in the industry for decades, it was just the latest iteration of exploitation from more powerful overlords. She saw her community speaking up against the change—particularly on Twitter, where sex workers and performers quickly renounced the policy and began proactively publicizing their accounts on other, friendlier platforms. To her surprise, their vocal opposition worked and OnlyFans moved quickly to find a solution. But Evans knows that this latest golden era of online work is already ending. “The writing is on the wall,” she says. Even successful creators like Savannah have begun actively promoting accounts on alternate platforms like PocketStars and Fansly. They know no solution, and no single site, will be forever. “The advice I’ve been given is to expect it all to crumble, and to have to rebuild again,” Savannah says. That advice isn’t specific to OnlyFans; it’s echoed by Amanda Palmer about Patreon, and Jahara about Twitch. As platforms inevitably seek a better bottom line, the creator workforce has no choice but to trust the tech companies will do right by them. In the meantime, they’re taking a note from the labor movement that has risen up in other industries this year: solidarity works......»»

Category: topSource: timeDec 1st, 2021

BTFDers Unleashed: Futures, Yields, Oil Jump As Omicron Panic Eases

BTFDers Unleashed: Futures, Yields, Oil Jump As Omicron Panic Eases As expected over the weekend, and as we first noted shortly after electronic markets reopened for trading on Sunday, S&P futures have maintained their overnight gains and have rebounded 0.7% while Nasdaq contracts jumped as much as 1.3% after risk sentiment stabilized following Friday’s carnage and as investors settled in for a few weeks of uncertainty on whether the Omicron variant would derail economic recoveries and the tightening plans of some central banks. Japan led declines in the Asian equity session (which was catching down to Friday's US losses) after the government shut borders to visitors. The region’s reopening stocks such as restaurants, department stores, train operators and travel shares also suffered some losses.  Oil prices bounced $3 a barrel to recoup some of Friday's rout, while the safe haven yen, Swiss franc and 10Y Treasury took a breather after its run higher. Moderna shares jumped as much as 12% in pre-market trading after Chief Medical Officer Paul Burton said he suspects the new omicron coronavirus variant may elude current vaccines, and if so, a reformulated shot could be available early in the new year. Which he would obviously say as his company makes money from making vaccines, even if they are not very efficient. Here are some of the other notable premarket movers today: BioNTech (BNTX US) advanced 5% after it said it’s starting with the first steps of developing a new adapted vaccine, according to statement sent by text. Merck & Co. (MRK US) declined 1.6% after it was downgraded to neutral from buy at Citi, which also opens a negative catalyst watch, with “high probability” the drugmaker will abandon development of its HIV treatment. A selection of small biotechs rise again in U.S. premarket trading amid discussion of the companies in StockTwits and after these names outperformed during Friday’s market rout. Palatin Tech (PTN US) +37%, Biofrontera (BFRI US) +22%, 180 Life Sciences (ATNF US) +19%. Bonds gave back some of their gains, with Treasury futures were down 11 ticks. Like other safe havens, the market had rallied sharply as investors priced in the risk of a slower start to rate hikes from the U.S. Federal Reserve, and less tightening by some other central banks. Needless to say, Omicron is all anyone can talk about: on one hand, authorities have already orchestrated a lot of global panic: Britain called an urgent meeting of G7 health ministers on Monday to discuss developments on the virus, even though the South African doctor who discovered the strain and treated cases said symptoms of Omicron were so far mild. The new variant of concern was found as far afield as Canada and Australia as more countries such as Japan imposed travel restriction to try to seal themselves off. Summarizing the fearmongering dynamic observed, overnight South African health experts - including those who discovered the Omicron variant, said it appears to cause mild symptoms, while the Chinese lapdog organization, WHO, said the variant’s risk is “extremely high”. Investors are trying to work out if the omicron flareup will a relatively brief scare that markets rebound from, or a bigger blow to the global economic recovery. Much remains unanswered about the new strain: South African scientists suggested it’s presenting with mild symptoms so far, though it appears to be more transmissible, but the World Health Organization warned it could fuel future surges of Covid-19 with severe consequences. "There is a lot we don't know about Omicron, but markets have been forced to reassess the global growth outlook until we know more," said Rodrigo Catril, a market strategist at NAB. "Pfizer expects to know within two weeks if Omicron is resistant to its current vaccine, others suggest it may take several weeks. Until then markets are likely to remain jittery." "Despite the irresistible pull of buying-the-dip on tenuous early information on omicron, we are just one negative omicron headline away from going back to where we started,” Jeffrey Halley, a senior market analyst at Oanda, wrote in a note. “Expect plenty of headline-driven whipsaw price action this week.” The emergence of the omicron strain is also complicating monetary policy. Traders have already pushed back the expected timing of a first 25-basis-point rate hike by the Federal Reserve to July from June. Fed Bank of Atlanta President Raphael Bostic played down economic risks from a new variant, saying he’s open to a quicker paring of asset purchases to curb inflation. Fed Chair Jerome Powell and Treasury Secretary Janet Yellen speak before Congress on Tuesday and Wednesday. “We know that central banks can quickly switch to dovish if they need to,” Mahjabeen Zaman, Citigroup senior investment specialist, said on Bloomberg Television. “The liquidity playbook that we have in play right now will continue to support the market.” European stocks rallied their worst drop in more than a year on Friday, with travel and energy stocks leading the advance. The Stoxx 600 rose 0.9% while FTSE 100 futures gain more than 1%, aided by a report that Reliance may bid for BT Group which jumped as much as 9.5% following a report that India’s Reliance Industries may offer to buy U.K. phone company, though it pared the gain after Reliance denied it’s considering a bid. European Central Bank President Christine Lagarde put a brave face on the latest virus scare, saying the euro zone was better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant Japanese shares lead Asian indexes lower after Premier Kishida announces entry ban of all new foreign visitors. Hong Kong’s benchmark Hang Seng Index closed down 0.9% at the lowest level since October 2020, led by Galaxy Entertainment and Meituan. The index followed regional peers lower amid worries about the new Covid variant Omicron. Amid the big movers, Galaxy Entertainment was down 5.4% after police arrested Macau’s junket king, while Meituan falls 7.1% after reporting earnings. In FX, currency markets are stabilizing as the week kicks off yet investors are betting on the possibility of further volatility. The South African rand climbed against the greenback though most emerging-market peers declined along with developing-nation stocks. Turkey’s lira slumped more than 2% after a report at the weekend that President Recep Tayyip Erdogan ordered a probe into foreign currency trades. The Swiss franc, euro and yen retreat while loonie and Aussie top G-10 leaderboard after WTI crude futures rally more than 4%. The Bloomberg Dollar Spot Index hovered after Friday’s drop, and the greenback traded mixed against its Group-of-10 peers; commodity currencies led gains. The euro slipped back below $1.13 and Bunds sold off, yet outperformed Treasuries. The pound was steady against the dollar and rallied against the euro. Australian sovereign bonds pared an opening jump as Treasuries trimmed Friday’s spike amid continuing uncertainty over the fallout from the omicron variant. The Aussie rallied with oil and iron ore. The yen erased an earlier decline as a government announcement on planned border closures starting Tuesday spurred a drop in local equities. The rand strengthens as South African health experts call omicron variant “mild.” In rates, Treasuries were cheaper by 4bp-7bp across the curve in belly-led losses, reversing a portion of Friday’s sharp safe-haven rally as potential economic impact of omicron coronavirus strain continues to be assessed. The Treasury curve bear- steepened and the benchmark 10-year Treasury yield jumped as much as 7 basis points to 1.54%; that unwound some of Friday’s 16 basis-point plunge -- the steepest since March 2020.  Focal points include month-end on Tuesday, November jobs report Friday, and Fed Chair Powell is scheduled to speak Monday afternoon. Treasuries broadly steady since yields gapped higher when Asia session began, leaving 10-year around 1.54%, cheaper by almost 7bp on the day; front-end outperformance steepens 2s10s by ~3bp. Long-end may draw support from potential for month-end buying; Bloomberg Treasury index rebalancing was projected to extend duration by 0.11yr as of Nov. 22 In commodities, oil prices bounced after suffering their largest one-day drop since April 2020 on Friday. "The move all but guarantees the OPEC+ alliance will suspend its scheduled increase for January at its meeting on 2 December," wrote analyst at ANZ in a note. "Such headwinds are the reason it's been only gradually raising output in recent months, despite demand rebounding strongly." Brent rebounded 3.9% to $75.57 a barrel, while U.S. crude rose 4.5% to $71.24. Gold has so far found little in the way of safe haven demand, leaving it stuck at $1,791 an ounce . SGX iron ore rises almost 8% to recoup Friday’s losses. Bitcoin rallied after falling below $54,000 on Friday. Looking at today's calendar, we get October pending home sales, and November Dallas Fed manufacturing activity. We also get a bunch of Fed speakers including Williams, Powell making remarks at the New York Fed innovation event, Fed’s Hassan moderating a panel and Fed’s Bowman discussing central bank and indigenous economies. Market Snapshot S&P 500 futures up 0.6% to 4,625.00 MXAP down 0.9% to 191.79 MXAPJ down 0.4% to 625.06 Nikkei down 1.6% to 28,283.92 Topix down 1.8% to 1,948.48 Hang Seng Index down 0.9% to 23,852.24 Shanghai Composite little changed at 3,562.70 Sensex up 0.4% to 57,307.46 Australia S&P/ASX 200 down 0.5% to 7,239.82 Kospi down 0.9% to 2,909.32 STOXX Europe 600 up 0.7% to 467.47 German 10Y yield little changed at -0.31% Euro down 0.3% to $1.1283 Brent Futures up 3.8% to $75.49/bbl Gold spot up 0.3% to $1,797.11 U.S. Dollar Index up 0.13% to 96.22 Top Overnight News from Bloomberg The omicron variant of Covid-19, first identified in South Africa, has been detected in locations from Australia to the U.K. and Canada, showing the difficulties of curtailing new strains While health experts in South Africa, where omicron was first detected, said it appeared to cause only mild symptoms, the Geneva-based WHO assessed the variant’s risk as “extremely high” and called on member states to test widely. Understanding the new strain will take several days or weeks, the agency said All travelers arriving in the U.K. starting at 4 a.m. on Nov. 30 must take a PCR coronavirus test on or before the second day of their stay and isolate until they receive a negative result. Face coverings will again be mandatory in shops and other indoor settings and on public transport. Booster shots may also be approved for more age groups within days, according to Health Secretary Sajid Javid The economic effects of the successive waves of the Covid pandemic have been less and less damaging, Bank of France Governor Francois Villeroy de Galhau says Italian bonds advance for a third day, as investors shrug off new coronavirus developments over the weekend and stock futures advance, while bunds are little changed ahead of German inflation numbers and a raft of ECB speakers including President Christine Lagarde A European Commission sentiment index fell to 117.5 in November from 118.6 the previous month, data released Monday showed Spanish inflation accelerated to the fastest in nearly three decades in November on rising food prices, underscoring the lingering consequences of supply-chain bottlenecks across Europe. Consumer prices jumped 5.6% Energy prices in Europe surged on Monday after weather forecasts showed colder temperatures for the next two weeks that will lift demand for heating ECB Executive Board member Isabel Schnabel took to the airwaves to reassure her fellow Germans that inflation will slow again, hours before data set to show the fastest pace of price increases since the early 1990s Russia’s ambassador to Washington said more than 50 diplomats and their family members will have to leave the U.S. by mid-2022, in the latest sign of tensions between the former Cold War enemies China sent the biggest sortie of warplanes toward Taiwan in more than seven weeks after a U.S. lawmaker defied a Chinese demand that she abandon a trip to the island A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks traded cautiously and US equity futures rebounded from Friday’s hefty selling (S&P 500 -2.3%) as all focus remained on the Omicron variant after several countries announced restrictions and their first cases of the new variant, although markets took solace from reports that all cases so far from South Africa have been mild. Furthermore, NIH Director Collins was optimistic that current vaccines are likely to protect against the Omicron variant but also noted it was too early to know the answers, while Goldman Sachs doesn’t think the new variant is a sufficient reason to adjust its portfolio citing comments from South Africa’s NICD that the mutation is unlikely to be more malicious and existing vaccines will most likely remain effective at preventing hospitalizations and deaths. ASX 200 (-0.5%) is subdued after Australia registered its first cases of the Omicron variant which involved two people that arrived in Sydney from southern Africa and with the government reviewing its border reopening plans. Nikkei 225 (-1.6%) whipsawed whereby it initially slumped at the open due to the virus fears and currency-related headwinds but then recouped its losses and briefly returned flat as the mood gradually improved, before succumbing to a bout of late selling, and with mixed Retail Sales data adding to the indecision. Hang Seng (-1.0%) and Shanghai Comp. (Unch) weakened with Meituan the worst performer in Hong Kong after posting a quarterly loss and with casino names pressured by a crackdown in which police detained Suncity Group CEO and others after admitting to accusations including illegal cross border gambling. However, the losses in the mainland were cushioned after firm Industrial Profits data over the weekend and with local press noting expectations for China to adopt a more proactive macro policy next year. Finally, 10yr JGBs shrugged off the pullback seen in T-note and Bund futures, with price action kept afloat amid the cautious mood in stocks and the BoJ’s presence in the market for over JPY 900bln of JGBs mostly concentrated in 3yr-10yr maturities. Top Asian News Hong Kong Stocks Slide to 13-Month Low on Fresh Virus Woes Li Auto Loss Narrows as EV Maker Rides Out Supply-Chain Snarls Singapore Adds to Its Gold Pile for the First Time in Decades China Growth Stocks Look Like Havens as Markets Confront Omicron Bourses in Europe are experiencing a mild broad-based rebound (Euro Stoxx 50 +1.0%; Stoxx 600 +0.9%) following Friday's hefty COVID-induced losses. Desks over the weekend have been framing Friday's losses as somewhat overstretched in holiday-thinned liquidity, given how little is known about the Omicron variant itself. The strain will likely remain the market theme as scientists and policymakers factor in this new variant, whilst data from this point forth – including Friday's US labour market report - will likely be passed off as somewhat stale, and headline risk will likely be abundant. Thus far, symptoms from Omicron are seemingly milder than some of its predecessors, although governments and central banks will likely continue to express caution in this period of uncertainty. Back to price action, the momentum of the rebound has lost steam; US equity futures have also been drifting lower since the European cash open – with the RTY (+0.9%) was the laggard in early European trade vs the ES (+0.8%), NQ (+1.0%) and YM (+0.7%). European cash bourses have also been waning off best levels but remain in positive territory. Sectors are mostly in the green, but the breadth of the market has narrowed since the cash open. Travel & Leisure retains the top spot in what seems to be more a reversal of Friday's exaggerated underperformance as opposed to a fundamentally driven rebound – with more nations announcing travel restrictions to stem the spread of the variant. Oil & Gas has also trimmed some of Friday's losses as oil prices see a modest rebound relative to Friday's slump. On the other end of the spectrum, Healthcare sees mild losses as COVID-related names take a mild breather, although Moderna (+9.1% pre-market) gains ahead of the US open after its Chief Medical Officer suggested a new vaccine for the variant could be ready early next year. Meanwhile, Autos & Parts reside as the current laggard amid several bearish updates, including a Y/Y drop in German car exports - due to the chip shortage and supply bottlenecks – factors which the Daimler Truck CEO suggested will lead to billions of Euros in losses. Furthermore, auto supbt.aplier provider Faurecia (-5.9%) trades at the foot of the Stoxx 600 after slashing guidance – again a function of the chip shortage. In terms of Monday M&A, BT (+4.7%) shares opened higher by almost 10% following source reports in Indian press suggesting Reliance Industries is gearing up for a takeover approach of BT – reports that were subsequently rebuffed. Top European News U.K. Mortgage Approvals Fall to 67,199 in Oct. Vs. Est. 70,000 Johnson Matthey Rises on Report of Battery Talks With Tata Gazprom Reports Record Third-Quarter Profit Amid Gas Surge Omicron’s Spread Fuels Search for Answers as WHO Sounds Warning In FX, the Buck has bounced from Friday’s pullback lows on a mixture of short covering, consolidation and a somewhat more hopeful prognosis of SA’s new coronavirus strand compared to very early perceptions prompted by reports that the latest mutation would be even worse than the Delta variant. In DXY terms, a base above 96.000 is forming within a 93.366-144 band amidst a rebound in US Treasury yields and re-steepening along the curve following comments from Fed’s Bostic indicating a willingness to back faster QE tapering. Ahead, pending home sales and Dallas Fed business manufacturing along with more Fed rhetoric from Williams and chair Powell on the eve of month end. AUD/CAD/NZD - No surprise to see the high beta and risk sensitive currencies take advantage of the somewhat calmer conditions plus a recovery in crude and other commodities that were decimated by the prospect of depressed demand due to the aforementioned Omicron outbreak. The Aussie is back over 0.7150 vs its US counterpart, the Loonie has pared back losses from sub-1.2750 with assistance from WTI’s recovery to top Usd 72/brl vs a Usd 67.40 trough on November 26 and the Kiwi is hovering above 0.6800 even though RBNZ chief economist Ha has warned that a pause in OCR tightening could occur if the fresh COVID-19 wave proves to be a ‘game-changer’. JPY/EUR - The major laggards as sentiment stabilses, with the Yen midway between 112.99-113.88 parameters and hardly helped by mixed Japanese retail sales data, while the Euro has retreated below 1.1300 where 1.7 bn option expiry interest resides and a key Fib level just under the round number irrespective of strong German state inflation reports and encouraging pan Eurozone sentiment indicators, as more nations batten down the hatches to stem the spread of SA’s virus that has shown up in parts of the bloc. GBP/CHF - Both narrowly divergent vs the Dollar, as Cable retains 1.3300+ status against the backdrop of retreating Gilt and Short Sterling futures even though UK consumer credit, mortgage lending and approvals are rather conflicting, while the Franc pivots 0.9250 and meanders from 1.0426 to 1.0453 against the Euro after the latest weekly update on Swiss bank sight deposits showing no sign of official intervention. However, Usd/Chf may veer towards 1.1 bn option expiries at the 0.9275 strike if risk appetite continues to improve ahead of KoF on Tuesday and monthly reserves data. SCANDI/EM - Although Brent has bounced to the benefit of the Nok, Sek outperformance has ensued in wake of an upgrade to final Swedish Q3 GDP, while the Cnh and Cny are deriving support via a rise in Chinese industrial profits on a y/y basis and the Zar is breathing a sigh of relief on the aforementioned ‘better’ virus updates/assessments from SA on balance. Conversely, the Try is back under pressure post-a deterioration in Turkish economic sentiment vs smaller trade deficit as investors look forward to CPI at the end of the week. Meanwhile, Turkish President Erdogan provides no reprieve for the Lira as he once again defending his unorthodox view that higher interest rates lead to higher inflation. In commodities, WTI and Brent front-month futures consolidate following an overnight rebound – with WTI Jan back on a USD 71/bbl handle and Brent Feb just under USD 75/bbl – albeit still some way off from Friday's best levels which saw the former's high above USD 78/bbl and the latter's best north of USD 81/bbl. The week is packed with risks to the oil complex, including the resumption of Iranian nuclear talks (slated at 13:00GMT/08:00EST today) and the OPEC+ monthly confab. In terms of the former, little is expected in terms of progress unless the US agrees to adhere to Tehran's demand – which at this point seems unlikely. Tehran continues to seek the removal of US sanctions alongside assurances that the US will not withdraw from the deal. "The assertion that the US must 'change its approach if it wants progress' sets a challenging tone", Citi's analysts said, and the bank also expects parties to demand full access to Iranian nuclear facilities for verification of compliance. Further, the IAEA Chief met with Iranian officials last week; although concrete progress was sparse, the overall tone of the meeting was one of progress. "We remain of the opinion that additional Iranian supplies are unlikely to reach the market before the second half of 2022 at the earliest," Citi said. Meanwhile, reports suggested the US and allies have been debating a "Plan B" if talks were to collapse. NBC News – citing European diplomats, former US officials and experts – suggested that options included: 1) a skinny nuclear deal, 2) ramp up sanctions, 3) Launching operations to sabotage Iranian nuclear advances, 4) Military strikes, 5) persuading China to halt Iranian oil imports, albeit Iran and China recently signed a 25yr deal. Over to OPEC+, a rescheduling (in light of the Omicron variant) sees the OPEC and JTC meeting now on the 1st December, followed by the JMMC and OPEC+ on the 2nd. Sources on Friday suggested that members are leaning towards a pause in the planned monthly output, although Russian Deputy PM Novak hit the wires today and suggested there is no need for urgent measures in the oil market. Markets will likely be tested, and expectations massaged with several sources heading into the meeting later this week. Elsewhere, spot gold trades sideways just under the USD 1,800/oz and above a cluster of DMAs, including the 50 (1,790.60/oz), 200 (1,791.30/oz) and 100 (1,792.80/oz) awaiting the next catalyst. Over to base metals, LME copper recoups some of Friday's lost ground, with traders also citing the underlying demand emanating from the EV revolution. US Event Calendar 10am: Oct. Pending Home Sales YoY, prior -7.2% 10am: Oct. Pending Home Sales (MoM), est. 0.8%, prior -2.3% 10:30am: Nov. Dallas Fed Manf. Activity, est. 17.0, prior 14.6 Central Bank speakers: 3pm: Fed’s Williams gives opening remarks at NY Innovation Center 3:05pm: Powell Makes Opening Remarks at New York Fed Innovation Event 3:15pm: Fed’s Hassan moderates panel introducing NY Innovation Center 5:05pm: Fed’s Bowman Discusses Central bank and Indigenous Economies DB's Jim Reid concludes the overnight wrap Last night Henry in my team put out a Q&A looking at what we know about Omicron (link here) as many risk assets put in their worst performance of the year on Friday after it exploded into view. The main reason for the widespread concern is the incredibly high number of mutations, with 32 on the spike protein specifically, which is the part of the virus that allows it to enter human cells. That’s much more than we’ve seen for previous variants, and raises the prospect it could be a more transmissible version of the virus, although scientists are still assessing this. South Africa is clearly where it has been discovered (not necessarily originated from) and where it has been spreading most. The fact that’s it’s become the dominant strain there in just two weeks hints at its higher level of contagiousness. However the read through to elsewhere is tough as the country has only fully vaccinated 24% of its population, relative to at least 68% in most of the larger developed countries bar the US which languishes at 58%. It could still prove less deadly (as virus variants over time mostly are) but if it is more contagious that could offset this and it could still cause similar healthcare issues, especially if vaccines are less protective. On the other hand the South African doctor who first alerted authorities to the unusual symptoms that have now been found to have been caused by Omicron, was on numerous media platforms over the weekend suggesting that the patients she has seen with it were exhausted but generally had mild symptoms. However she also said her patients were from a healthy cohort so we can’t relax too much on this. However as South African cases rise we will get a lot of clues from hospitalisation data even if only 6% of the country is over 65s. My personal view is that we’ll get a lot of information quite quickly around how bad this variant is. The reports over the weekend that numerous cases of Omicron have already been discovered around the world, suggests it’s probably more widespread than people think already. So we will likely soon learn whether these patients present with more severe illness and we’ll also learn of their vaccination status before any official study is out. The only caveat would be that until elderly patients have been exposed in enough scale we won’t be able to rule out the more negative scenarios. Before all that the level of restrictions have been significantly ramped up over the weekend in many countries. Henry discusses this in his note but one very significant one is that ALL travellers coming into (or back to) the UK will have to self isolate until they get a negative PCR test. This sort of thing will dramatically reduce travel, especially short business trips. Overnight Japan have effectively banned ALL foreign visitors. I appreciate its dangerous to be positive on covid at the moment but you only have to look at the UK for signs that boosters are doing a great job. Cases in the elderly population continue to collapse as the roll out progresses well and overall deaths have dropped nearly 20% over the last week to 121 (7-day average) - a tenth of where they were at the peak even though cases have recently been 80-90% of their peak levels. If Europe are just lagging the UK on boosters rather than anything more structural, most countries should be able to control the current wave all things being equal. However Omicron could make things less equal but it would be a huge surprise if vaccines made no impact. Stocks in Asia are trading cautiously but remember that the US and Europe sold off more aggressively after Asia closed on Friday. So the lack of major damage is insightful. The Nikkei (-0.02%), Shanghai Composite (-0.14%), CSI (-0.22%), KOSPI (-0.47%) and Hang Seng (-0.68%) are only slightly lower. Treasury yields, oil, and equity futures are all rising in Asia. US treasury yields are up 4-6bps across the curve, Oil is c.+4.5% higher, while the ZAR is +1.31%. Equity futures are trading higher with the S&P 500 (+0.71%) and DAX (+0.84%) futures in the green. In terms of looking ahead, we may be heading into December this week but there’s still an incredibly eventful period ahead on the market calendar even outside of Omicron. We have payrolls on Friday which could still have a big impact on what the Fed do at their important December 15 FOMC and especially on whether they accelerate the taper. Wednesday (Manufacturing) and Friday (Services) see the latest global PMIs which will as ever be closely watched even if people will suggest that the latest virus surge and now Omicron variant may make it backward looking. Elsewhere in the Euro Area, we’ll get the flash CPI estimate for November tomorrow (France and Italy on the same day with Germany today), and we’ll hear from Fed Chair Powell as he testifies (with Mrs Yellen) before congressional committees tomorrow and Wednesday. There’s lots of other Fed speakers this week (ahead of their blackout from this coming weekend) and last week there was a definite shift towards a faster taper bias, even amongst the doves on the committee with Daly being the most important potential convert. Fed speakers this week might though have to balance the emergence of the new variant with the obvious point that without it the Fed is a fair bit behind the curve. Importantly but lurking in the background, Friday is also the US funding deadline before another government shutdown. History would suggest a tense last minute deal but it’s tough to predict. Recapping last week now and the emergence of the new variant reshaped the whole week even if ahead of this, continued case growth across Europe prompted renewed lockdown measures and travel bans across the continent. Risk sentiment clearly plummeted on Friday. The S&P 500 fell -2.27%, the biggest drop since October 2020, while the Stoxx 600 fell -3.67%, the biggest one-day decline since the original Covid-induced risk off in March 2020. The S&P 500 was -2.20% lower last week, while the Stoxx 600 was down -4.53% on the week. 10yr treasury, bund, and gilt yields declined -16.1bps, -8.7bps, and -14.5bps, undoing the inflation and policy response-driven selloff from earlier in the week. The drop in 10yr treasury and gilt yields were the biggest one-day declines since the original Covid-driven rally in March 2020, while the drop in bund yields was the largest since April 2020. 10yr treasury, bund, and gilt yields ended the week -7.3bps lower, +0.7bps higher, and -5.4bps lower, respectively. Measures of inflation compensation declined due to the anticipated hit to global demand, with 10yr breakevens in the US and Germany -6.8bps and -8.8bps lower Friday, along with Brent and WTI futures declining -11.55% and -13.06%, respectively. Investors pushed back the anticipated timing of rate hikes. As it stands, the first full Fed hike is just about priced for July, and 2 hikes are priced for 2022. This follows a hawkish tone from even the most dovish FOMC members and the November FOMC minutes last week. The prevailing sentiment was the FOMC was preparing to accelerate their asset purchase taper at the December meeting to enable inflation-fighting rate hikes earlier in 2022. Understanding the impact of the new variant will be crucial for interpreting the Fed’s reaction function, though. The impact may not be so obvious; while a new variant would certainly hurt global demand and portend more policy accommodation, it will also likely prompt more virus-avoiding behaviour in the labour market, preventing workers from returning to pre-Covid levels. Whether the Fed decides to accommodate these sidelined workers for longer, or to re-think what constitutes full employment in a Covid world should inform your view on whether they accelerate tapering in December. It feels like a lifetime ago but last week also saw President Biden nominate Chair Powell to head the Fed for another term, and for Governor Brainard to serve as Vice Chair. The announcement led to a selloff in rates as the more dovish Brainard did not land the head job. In Germany, the center-left SPD, Greens, and liberal FDP agreed to a full coalition deal. The traffic-light coalition agreed to restore the debt break in 2023, after being suspended during the pandemic, and to raise the minimum wage to €12 per hour. The SPD’s Olaf Scholz will assume the Chancellorship. The US, China, India, Japan, South Korea, and UK announced releases of strategic petroleum reserves. Oil prices were higher following the announcement, in part because releases were smaller than anticipated but, as mentioned, prices dropped precipitously on Friday on the global demand impact of the new Covid variant. The ECB released the minutes of the October Governing Council meeting, where officials stressed the need to maintain optionality in their policy setting. They acknowledged growing upside risks to inflation but stressed the importance of not overreacting in setting policy as they see how inflation scenarios might unfold. Tyler Durden Mon, 11/29/2021 - 08:01.....»»

Category: dealsSource: nytNov 29th, 2021

Transcript: Edwin Conway

   The transcript from this week’s, MiB: Edwin Conway, BlackRock Alternative Investors, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS:… Read More The post Transcript: Edwin Conway appeared first on The Big Picture.    The transcript from this week’s, MiB: Edwin Conway, BlackRock Alternative Investors, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, man, I have an extra special guest. Edwin Conway runs all of alternatives for BlackRocks. His title is Global Head of Alternative Investors and he covers everything from structured credit to real estate hedge funds to you name it. The group runs over $300 billion and he has been a driving force into making this a substantial portion of Blackrock’s $9 trillion in total assets. The opportunity set that exists for alternatives even for a firm like Blackrock that specializes in public markets is potentially huge and Blackrock wants a big piece of it. I found this conversation to be absolutely fascinating and I think you will also. So with no further ado, my conversation with Blackrock’s Head of Alternatives, Edwin Conway. MALE VOICEOVER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. RITHOLTZ: My extra special guest this week is Edwin Conway. He is the Global Head of Blackrock’s Alternative Investors which runs about $300 billion in assets. He is a team of over 1,100 professionals to help him manage those assets. Blackrock’s Global alternatives include businesses that cover real estate infrastructure, hedge funds private equity, and credit. He is a senior managing director for BlackRock. Edwin Conway, welcome to Bloomberg. EDWIN CONWAY, GLOBAL HEAD OF ALTERNATIVE INVESTORS, BLACKROCK: Barry, thank you for having me. RITHOLTZ: So, you’ve been in the financial services industry for a long time. You were at Credit Suisse and Blackstone and now you’re at BlackRock. Tell us what the process was like breaking into the industry? CONWAY: It’s an interesting on, Barry. I grew up in a very small town in the middle of Ireland. And the breakthrough to the industry was one of more coincident as opposed to purpose. I enjoyed the game of rugby for many years and through an introduction while at the University, in University College Dublin in Ireland, had a chance to play rugby at a quite a – quite a decent level and get to know people that were across the industry. It was really through and internship and the suggestion, I’ve given my focus on business and financing things that the financial services sector may be a great place to traverse and get to know. And literally through rugby connections, been part of a good school, I had an opportunity to really understand what the service sector, in many respects, could provide to clients and became absolutely intrigued with it. And what – was it my primary ambition in life to be in the financial services sector? I can definitively say no, but through the circumstance of a game that I love to play and be part of, I was introduced to, through an internship, and actually fell in love with it. RITHOLTZ: Quite interesting. And alternative investments at Blackrock almost seems like a contradiction in terms. Most of us tend to think of Blackrock as the giant $9 trillion public markets firm best known for ETFs and indices. Alternatives seems to be one of the fastest-growing groups within the firm. This was $50 billion just a few years ago, it’s now over 300 billion. How has this become such a fast-growing part of BlackRock? CONWAY: When you look at the various facets which you introduced at the start, Barry, we’ve actually been an alternatives – will be of 30 years now. Now, the scale, as you know, which you can operate on the beta side of business, far surpasses that on the alpha side. For us, throughout the years, this was very much about how can we deliver investment excellence to our clients and performance? Therefore, going an opportunity somewhere else to explore an alpha opportunity in alternatives. And I think being so connected to our clients understanding, that this pivots was absolutely taking place at only 30 years ago but in a very pronounced way today, you know, we continue to invest in this business to support those ambitions. They’re clearly seeing this as the world of going through a tremendous amount of transformation and with some of the challenges, quite frankly, in the traditional asset classes, being able to leverage at BlackRock, the Blackrock muscle to really explore these alpha opportunities across the various alternative asset classes that in our mind wasn’t imperative. And the imperative, really, is from the firm’s perspective and if you look at our purpose, it’s to serve the client. So the need was coming from them. The necessity to have alternatives and their whole portfolio was very – was very much growing in prominence. And it’s taken us 30 years to build this journey and I think, Barry, quite frankly, we’re far from being done. As you look at the industry, the demand is going to continue to grow. So, I think you could expect to see from us a continued investment in the space because we don’t believe you can live without alternatives in today’s world. RITHOLTZ: That’s really – that’s really interesting. So let’s dive a little deeper into the product strategy for alternatives which you are responsible for at BlackRock. Our audiences is filled with potential investors. Tell them a little bit about what that strategy is. CONWAY: So we’re – I think as you mentioned, we’re in excess of 300 billion today and when we started this business, it was less about building a moat around private equity or real estate. I think Larry Fink’s and Rob Kapito’s vision was how do we build a platform to allow us to be relevant to our clients across the various alternative asset classes but also within the – within the confines of what they are permitted to do on a year-by-year basis. So, to always be relevant irrespective of where they are in their journey from respect of liabilities, demand for liquidity, demand for returns, so we took a different approach. I think, Barry, to most, it was around how do we scale into the business across, like you said, real estate equity and debt, infrastructure equity and debt. I mean, we think of that as the real assets platform of our business. Then you take our private equity capabilities both in primary investing, secondary et cetera, and then you have private credits and a very significant hedge fund platforms. So we think all of these have a real role and depending on clients liquidities and risk appetite, our goal was, to over the years, really build in to this to allow ourselves for this challenging needs that our clients have. I think as an industry, right, and over the many years alternatives have been in existence, this is been about return enhancement initially. I think, fundamentally, the changes around the receptivity to the role of alternatives in a client’s portfolio has really changed. So, we’ve watched it, Barry, from this is we’re in the pursuit of a very total return or absolute return type of an objective to now resilience in our portfolio, yield an income. And so things that probably weren’t perceived as valuable in the past because the traditional asset classes were playing a more profound role, alternatives have stepped up in – in many respects in the need to provide more than just total return. So, we’re taking the approach of how do you have a more holistic approach to this? How do we really build a global multi-alternatives capability and try to partner and I think that’s the important work for us. Try to partner with our clients in a way that we can deliver that outperformance but delivered in a way that probably our clients haven’t been used to in this industry before. Because unfortunately, as we know, it has had its challenges with regard to secrecy, transparency, and so many other aspects. We need to help the industry mature. And really that was our ambition. Put our client’s needs first, build around that and really be relevant in all aspects of what we’re doing or trying to accomplish on behalf of the people that they support and represent. RITHOLTZ: So, we’ll talk a little bit about transparency and secrecy and those sorts of things later. But right now, I have to ask what I guess is kind of an obvious question. This growth that you’ve achieved within Blackrock for nonpublic asset allocation within a portfolio, what is this coming at expense of? Are these dollars that are being moved from public assets into private assets or you just competing with other private investors? CONWAY: It’s really both. What – what you are seeing from our clients – if I take a step back, today, the institutional client community and you think about the – the retirement conundrum we’re all facing around the world. It’s such an awful challenge when you think how ill-prepared people are for that eventual stepping back from the workplace and then you know longevity is your friend, but can also be a very, very difficult thing to obviously live with if you’re not prepared for retirement. The typical pension plan today are allocating about 25 percent to 28 percent in alternatives. Predominantly private market. What they’re telling us is that’s increasing quite substantially going forward. But you know, the funding for that alpha pursue for that diversification and that yield is coming from fixed-income assets. It’s coming from equity assets. So there’s a real rebalancing that’s been taking place over the past number of years. And quite frankly, the evolution, and I think the innovation that’s taken place particularly in the past 10 years, alternatives has been really profound. So the days where you just invest in any global funds still exist. But now you can concentrate your efforts on sector exposure, industry exposures, geographic exposures, and I think the – the menu of things our clients can now have access to has just been so greatly enhanced at and the benefit is that but I think in some – in some respects, Barry, the next question is with all of those choices, how do you build the right portfolio for our client’s needs knowing that each one of our client’s needs are different? So, I would say it absolutely coming from the public side. We’re very thankful. Those that had a multiyear journey with us in the public side are now allocating capital to is now the private side to because I do think the – the industry given that change, given that it evolution and given the complexity of these private assets, our clients are looking to, quite frankly, do more with fewer managers because of the complexion of the industry and complexity that comes with it. RITHOLTZ: Quite – quite interesting. (UNKNOWN): And attention RIA’s. 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I think what we’ve all realized is that at times when volatility introduces itself which is frequent even independent of what’s been done from a fiscal and monetary standpoint, that these Alpha speaking strategies on the traditional side still make a lot of sense. And so, as we think about what – what’s happening here, the transition of assets from both passive and active strategies to alternative, it – it’s really to create better balance. It’s not that there’s – there’s a lack of relevance anymore in the public side. It’s just quite frankly the growth of the private asset base has grown so substantially. I moved, Barry, to the U.S. in 1998. And it’s interesting, when you look back at 1998 to today, you start to recognize the equity markets and what was available to invest in. The number of investable opportunities has shrunk by 40 plus percent which that compression is extraordinarily high. But yet you’ve seen, obviously, the equity markets grow in stature and significance and prominence but you’re having more concentration risk with some of the big public entities. The converse is true, though on the – on the private side. There’s this explosion of enterprise and innovation, employment creation, and then I believe opportunities has been real. So, I look at the public side, the investable universe is measured in the thousands and the private side is measured in the millions. RITHOLTZ: Wow. CONWAY: And I think part of the – part of the part of the thing our clients are not struggling with but what we’re really recognizing with – with enterprises staying private for longer, if not forever, and with his growth of the opportunities that open debt and equity in the private market side, you really can’t forgo this opportunity. It has to be part of your going forward concerns and asset allocation. And I think this is why we’re seeing that transformation. And it’s not because equities on fixed income just aren’t relevant anymore. They’re very relevant but they’re relevant now in a total portfolio or a whole portfolio context beside alternatives. RITHOLTZ: So, let’s discuss this opportunity set of alternatives where you guys at Blackrock scene demand what sectors and from what sorts of clients? Is this demand increasing? CONWAY: We’re very fortunate, Barry. Today, there isn’t a single piece of our business within – within Blackrock alternatives that isn’t growing. And quite frankly too, it’s really up to us to deliver on the investment objectives that are set forth for those clients. I think in the back of strong absolute and relative performance, thankfully, our clients look to us to – to help them as – as they think about what they’re doing and as they’re exploring more in the alternatives areas. So, as you know, certainly, the private equity and real estate allocations are quite mature in many of our client’s portfolios but they’ve been around for many decades. I think that the areas where we’re seeing – that’s called an outside demand and opportunity set, just but virtue of the small allocations on a relative basis that exist today is really around infrastructure, Barry, and its around private credits. So, to caveat that, I think all of the areas are certainly growing, and thankfully, for us that’s true. We’re looking at clients who we believe are underinvested, we believe they’re underinvested in those asset classes infrastructure both debt and equity and in private credit. And as you think about why that is, the attributes that they bring to our client is really important and in a world where your correlation and understanding those correlations is important that these are definitely diversifying assets. In a world where you’re seeing trillions of dollars, quite frankly, you’re providing little to no or even there’s negative yield. Those short falls are real and people need yield than need income. These assets tend to provide that. So the diversification, it comes from these assets. The yield can come from these assets and because of the immaturity of the asset classes, independence of the capital is flowing in, we still consider them relatively white space. You’re not crowded out. There’s much room for development in the market and with our client’s portfolios. And to us, that’s exciting because it presents opportunities. So, at the highest level, they’re the areas where I believe are most underdeveloped in our clients. RITHOLTZ: So let’s talk about both of those areas. We’ll talk about structured credit in a few minutes. I think everybody kind of understands what – what that is. What – when you see infrastructure as a sector, how does that show up as an investment are – and obviously, I have infrastructure on the brink because we’re recording this not too long after the giant infrastructure bill has been passed, tell us a little bit about what alternative investments in infrastructure looks like? CONWAY: Yes. It’s really in its infancy and what the underlying investments look like. I think traditionally, you would consider it as – and part of the bill that has just been announced, roads, bridges, airports. Some of these hard assets, some of the core infrastructure investments that have been around for actually some time. The interesting thing is the industry has evolved so much and put the need for infrastructure. It’s so great across both developed and emerging economies. It’s become something that if done the right way, the attributes we just spoke of can really have a very strong effect on our client’s portfolios. So, beyond the core that we just mentioned, well, we’ve seen a tremendous demand as a result of this energy transition. You’re really seeing a spike in activity and the necessity transition industry to cleaner technologies, a movement, not away completely from fossil fuel but integrating new types of clean energy. And as a result, you’ve seen a lot of demand on a global basis for wind and solar. And quite frankly, that’s why even us at BlackRock, albeit, 10-12 years ago, we really established a capability there to help with that transition to think about how do we use these technologies, solar panels, wind farms, to generate clean forms of energy for utilities where in some cases they’re mandated to procure this type of this type of – this type of power. And when you think about pre-contracting with utilities for long duration, that to me spells, Barry, good risk mitigation and management and ability to get access to clean forms of energy that throw off yield that can be very complementary to your traditional asset classes but for very long periods of time. And so, the benefits for us of these – these assets is that they are long in duration, they are yield enhancing, they’re definitely diversifying. And so, for us, where – we’ve got about, let’s call this 280 assets around the world that we’re managing that literally generate this – this clean electricity. I think to give the relevance of how much, I believe today, it’s enough to power the country of Spain. RITHOLTZ: Wow. CONWAY: And that’s really that’s really changing. So you’re seeing governments – so from a policy standpoint, you’re seeing governments really embracing new forms of energy, transitioning out of bunker fuels, for example, you know, burning diesels which really spew omissions into the – into the into the environment. But it’s really around modernizing for the future. So, developed and emerging economies alike, want to retain capital. They want to attract new capital and by having the proper infrastructure to support industry, it’s a really, really important thing. Now, on the back of that too, one things we’ve learned from COVID is that the necessity to really bring e-commerce into how you conduct your business is so important and I think from the theme of digitalization within infrastructure to is a huge part. So, it’s not just the energy transition that you’re seeing, it’s not just roads and bridges, but by allowing businesses to connect to a global consumer, allowing children be educated from home, allowing experiences that expand geographies and boundaries in a digital form is so important not just for commerce but in so many other aspects. And so, you think about cable, fiber optics, if you think about all the other things even outside of power, that enable us to conduct commerce to educate, there are many examples where, Barry, you can build resilience into your portfolio because that need is not measured in years. Actually, the shortfall of capital is measured in the trillions so which means this is – this is a multi-decade opportunity set from our vantage point and one of which our clients should really avail of. RITHOLTZ: Quite interesting. And I mentioned in passing, structured credit, tell us a little bit about what that opportunity looks like. I think of this as a space that is too big for local banks but too small for Wall Street to finance. Is that an oversimplification? What is going on in that space. CONWAY: I probably couldn’t have set it better, Barry. It’s – if we go back to just the even the investable universe, in the tens of thousands of companies, just if we take North America that are private, that have great leadership that really have strategic vision under – at the – in some cases, at the start of their growth lifecycles are even if they maintain, they have a very credible and viable business for the future they still need capital. And you’re absolutely right. With the retreat of the banks from the space to various regulations that have come after the global financial crisis, you’re seeing the asset managers in many respects working behalf of our clients both wealth and institutional becoming the new lenders of choice. And – and when we – when we think about that opportunity set, that is really understanding the client’s desire for risk or something maybe in a lower risk side from middle-market lending or midmarket enterprises where you can support that organization through its growth cycle all the way to some higher-yielding, obviously, with more risk assets on the opportunistic or even the special situations side. But it – it expands many things. And going back of the commentary around the evolution of the space, private credit today and what you can do has changed so profoundly, it expands the liquidity spectrum, it expands the risk spectrum. And the great news is, with the number of companies both here and abroad, the opportunities that is – it’s being enriched every single day. And were certainly seeing, particularly going back to the question are some of these assets coming from the traditional side, the public side. When we think of private credit, you are seeing private credit now been incorporated in fixed-income allocations. This is a – it’s a yelling asset. This is – these are debt instruments, these are structures that we’re creating. We’re trying to flexible and dynamic with these clients. But it really is an area where we think – it really is still at its – at its infancy relevant to where it can potentially be. RITHOLTZ: That’s really quite – quite interesting. (UNKNOWN): It’s Rob Riggle. I’m hosting Season 2 of the iHeart radio podcast, Veterans You Should Know. You may know me as the comedic actor from my work in the Hangover, Stepbrothers or 21 Jump Street. But before Hollywood, I was a United States Marine Corps officer for 23 years. For this Veterans Day, I’ll be sitting down with those who proudly served in the Armed Forces to hear about the lessons they’ve learned, the obstacles they’ve overcome, and the life-changing impact of their service. Through this four-part series, we’ll hear the inspiring journeys of these veterans and how they took those values during their time of service and apply them to transition out of the military and into civilian life. Listen to Veterans You Should Know on the iHeart radio app, Apple Podcast or wherever you get your podcast. RITHOLTZ: Let’s stick with that concept of money rotating away from fixed income. I have to imagine clients are starved for yields. So what are the popular substitutes for this? Is it primarily structured credit? Is it real estate? How do you respond to an institution that says, hey, I’m not getting any sort of realistic coupon on my bonds, I need a substitute? CONWAY: Yes. It’s all of those in many respects. And I think to the role, even around now a time where people have questions around inflation, how do substitute this yield efficiency or certainly make up for that shortfall, how do you think about a world where increasingly seeing inflation, not of the transitory thing it feels certainly quasi-permanent. These are a lot of questions we’re getting. And certainly, real estate is an is important part of how they think about inflation protection, how client think about yield, but quite frankly too, we’ve – we’ve gone through something none of us really had thought about a global pandemic. And as I think about real estate, just how you allocate to the sector, what was very heavily influenced with retail assets, high street, our shopping behaviors and habits have changed. We all occupied offices for obviously many, many years pre the pandemic. The shape of how we operate and how we do that has changed. So, I think some of the underlying investment – investments have changed where you’ve seen heavily weighted towards office space to leisure, travel in the past. Actually, now using a rotation in some respects out of those, just given some of the uncertainties around what the future holds as we come – come through a really difficult time. But the great thing about this sector is between senior living, between student housing, between logistics and so many other parts, there are ways in real estate to capture where there’s – where there’s demand. So still a robust opportunity set and it – and we do think it can absolutely be yield enhancing. We mentioned infrastructure. Even if you think about – and we mention OECD and non-OECD, emerging and developed, when I think about Asia, in particular, just as a subset of the world in which we’re living in, that is a $2.6 trillion alternative market today growing at a 15 percent CAGR. And quite frankly, the old-growth is driven by the large economic growth in the region. So, even from a regional perspective, if we pivot, it houses 57 percent of the world’s population and yet delivers 47 percent of the world’s economic growth. So, think of that and then with regard to infrastructure and goes back to that, this is truly a global phenomenon. So if we just even take that sector, Barry, you’ll realize that the way to maintain that type of growth, to attract capital, to keep capital, it really requires an investment of significant amount of money to be able to sustain that. And when you have 42 million people in a APAC migrating to cities in the year going back to digitalization, that’s an important thing. So, when I say we’re so much at the infancy in infrastructure, I really mean it. It can be water, it can be sewer systems, it can be digital, it can be roads, there’s so much to this. And then even down to the regional perspective, it’s a – it’s a need that doesn’t just exist in the U.S. So, for these assets, this tend to be long in duration. There’s both equity and debt. And on the debt side, quite frankly, very few outside of our insurance clients and their general account are taking advantage of the debt opportunity. And – and as we both know, to finance these projects that are becoming more plentiful every single day, across the world, including like, I said, in APAC in scale, there’s an opportunity in both sides. And I think that’s where the acid mix change happen. It’s recognizing that the attributes of these assets can have a role, the attributes of these assets can potentially replace some of these traditional assets and I think you’re going to see it grow. So, infrastructure to us, it’s really equity and debt. And then on the credit side, like I mentioned, again, too, it’s a very, very big and growing market. And certainly, the biggest area today from our vantage point is middle-market lending from a scale opportunity standpoint. So, we think much more to come in all of those spaces. RITHOLTZ: Really interesting. And let’s just stay with the concept of public versus private. That line is kind of getting blurred and the secondary markets is liquidity coming to, for lack of a better phrase, pre-public equities, tells little bit about that space. Is that an area that is ripe for growth for BlackRock? CONWAY: Yes. We absolutely think it is and you’re absolutely correct. The secondary market is – has grown quite substantial. If you even look at just the private equity secondary market and what will transact this year, I think it will be potentially in excess of 100 billion. And that’s what were clear, not to mention what will be visible and what will be analyzed. And that speaks to me what’s really happening and the innovation that we mentioned earlier. It’s no longer about just primary exposure. It’s secondary exposure. When we see all sort of interest and co-investment opportunities as well, I think the available sources of alpha and the flexibility you can now have, albeit if directed and advised, I believe the right way, Barry, can be very helpful and in the portfolio. So, your pre-IPO, it is a big part of actually what we do and we think about growth equity. There is – it’s a significant amount of capital following that space. Now, from our vantage point, as one of the largest investors in the public equity market and now obviously one of the largest investors and they in the private side, the bridge between – between private to public – there’s a real need. IPOs are not going away. And I think smart, informed capital to help with this journey, this journey is really – is really a necessity and a need. RITHOLTZ: So let’s talk a little bit about this recent restructuring. You are first named Global Head of Blackrock Alternative Investors in April 2019, the entire alternatives business was restructured, tell us a little bit about how that restructuring is going? CONWAY: Continues to go really well, Barry. When you look at the flow of acid from our clients, I think, hopefully, that’s speaks to the performance we’ve been generating. I joined the firm, as you know, albeit, 11 years ago and being very close to the alternative franchise as a critical thing for me and running the institutional platform. To me, when you watched this migration of asset towards alternatives, it was obviously very evident for decades now that this is a critical leg of the stool as our clients are thinking about their portfolios. We’re continuing to innovate. We’re continuing to invest, and thankfully, we’re continuing to deliver strong performance. We’re growing at about high double digits on an annual basis but we’re trying to purposeful too around where that growth is coming from. I think the reality is when you look at the competitive universe, I think the last number I saw, it was about 38,000 alternative asset managers out there today, obviously, coming from hedge funds all the way to private credits and private equity. So, competition is real and I do think the outcomes for our clients are starting to really grow. Unfortunately, some – in some cases, obviously, very good, and in some cases, actually not great. So our focus, Barry, is really much on how can we deliver performance, how can we be a partner? And I think we been rewarded with a trust and the faith our clients have in us because they’re seeing something different, I think, from us. Now, the scale of the business that you mentioned earlier really gives us tentacles into the market that I believe allows us to access what I think is the new alpha which is in many respects, given the heft of competition sourcing and originating new investments is certainly harder but for us, sitting in or having alternative team, sitting in 50 offices around the world, really investing in the markets because that – the market they grew up with and have relationships within, I think this network value that we have is something that’s quite special. And I think in the world that’s becoming increasingly competitive, we’re going to continue to use and harness that network value to pursue opportunities. And thankfully, as a result of the partnership we’ve been pursuing with her clients, like, we’ve – we’re certainly looking for opportunities and investments in our funds. But because of the brand, I think because of the successes, opportunities seeks us as much as we seek opportunity and that has been something that we look at an ongoing basis and feel very privileged to actually have that inbound flow as well. RITHOLTZ: Really quite interesting. There was a quote of yours I found while doing some prep for this conversation that I have to have you expand on. Quote, “The relationship between Blackrock’s alternative capabilities and wealth firms marked a large opportunity for growth in the coming years.” This was back in 2019. So, the first part of the question is, was your expectations correct? Did you – did you see the sort of growth you were hoping for? And more broadly, how large of an opportunity is alternatives, not just for BlackRock but for the entire investment industry? CONWAY: Yes. It’s been very much an institutional opportunity set up until now. And there’s so much to be done, still, to really democratize alternatives and we certainly joke around making alternatives less alternative. Actually, even the nomenclature we use and how we describe it doesn’t kind of make sense anymore. It’s such a core – an important allocation to our clients, Barry, that just calling it alternative seems wrong. Just about the institutional clients. It ranges, I think, as I mentioned on our – some of our more conservative clients which would be pension plans which really have liquidity needs on a monthly basis because of the liabilities they have to think about. At about 25 plus percent in private markets, to endowments, foundations, family offices, going to 50 percent plus. So, it’s a really important part and has been for now many years the institutional client ph communities outcomes. I think the thing that we, as an industry, have to change is alternatives has to be for the many, not for the few. And quite frankly, it’s been for the few. And as we talked about some of the attributes and the important attributes of these asset classes to think that those who have been less fortunate in their careers can’t access, things they can enrich their future retirement outcomes, to me, is a failing. And we have to address that. That comes from regulation changes, it comes from structuring of new products, it comes from education and it comes from this knowledge transmission where clients in the wealth segment can understand the role of alternatives and the context of what can do as they invest in equities and fixed income too. And we think that’s a big shortfall. So, the journey today, just to give you a sense, as we look at her clients in Europe on the wealth side, on average, as you look from what we would call the credited investors all the way through to more ultra-high-net worth individuals, their allocation to alternatives, we believe, stands at around two to three percent of their total portfolio. In the U.S., we believe it stands at three to five. So, most of those intermediaries, we speak to our partners who were more supporting and serving the wealth channel. They have certainly an ambition to help their clients grow that to 20 percent and potentially beyond that. So, when I look at that gap of let’s call it two to three to 20 percent in a market that just given the explosion in wealth around the world, I think the last numbers I saw, this is a $65 trillion market. RITHOLTZ: Wow. CONWAY: That speaks to the shortfall relative to the ambition. And how’s it been going? We have a number of things and capabilities we’ve set up to allow for this market to experience, hopefully, private equity, hedge funds, credit, and an infrastructure in ways they haven’t in the past. We’ve done this in the U.S., we’re doing it now in Europe, but I will say, Barry, this is still very much at the start of the journey. Wealth is a really important part of our future given our business, quite, frankly is 90 plus percent institutional today, but we’re looking to change that by, hopefully, democratizing these asset classes and making it so much more accessible in that of the past. RITHOLTZ: So, we hinted at this before but I’m going to ask the question outright, how significant is interest rates to client’s risk appetites, how much of the current low rate environment are driving people to move chunks of their assets from fixed income to alternatives? CONWAY: It’s really significant, Barry. I think the transition of these portfolios is quite profound, So you – and I think the unfortunate thing in some respects as this transition happens that you’re introducing new variables and new risks. The reason I say it’s unfortunate and that I think as an industry, this goes back to the education around the assets you own, understanding the role, understanding the various outcomes. I think it’s so incredibly important and that this the time where complete transparency is needed. And quite frankly, we’re investing capital that’s not ours. As an industry, we’re investing our client’s assets and they need to know exactly the underlying investments. And in good and bad times, how would those assets behave? So certainly, interest rates are driving a flow of capital away from these traditional assets, fixed-income, and absolutely in towards real estate, infrastructure, private creditors, et cetera, in the pursuit of this – this yield. But I do – I do think one of the things that’s critically important for the institutional channel, not just the wealth which are newer entrants is this transmission of education, of data because that’s how I think you build a better balanced portfolio and that’s a – that’s a real conundrum, I think, that the industry is facing and certainly your clients too. RITHOLTZ: Quite interesting. So let’s talk a little bit about the differences between investing in the private side versus the public markets, the most obvious one has to be the illiquidity. When you buy stocks or bonds, you get a print every microsecond, every tick, but most of these investments are only marked quarterly or annually, what does this illiquidity do when you’re interacting with clients? How do you – how do you discuss this with them in and how do perceive some of the challenges of illiquid investments? CONWAY: Over the – over the past number of decades, I think our clients have largely held too much liquidity in their portfolios. Like, so what we are finding is the ability to take on illiquidity risk. And obviously, in pursuit of that premium above, the traditional markets, I mean, I think the sentiment they are is it an absolute right one. That transition towards private market exposure, we think is an important one just given the return objectives, the majority of our clients’ need but then also again, most importantly now, with geo policy, with uncertainty, with interest rate uncertainty, inflation uncertainty, I mean, the – going back to the resilience point, the characteristics now by introducing these assets into the mix is important. And I think that’s – that point is maybe what I’ll expand on. As were talking to clients, using the Aladdin systems, and as you know, we bought eFront technologies, albeit a couple of years ago, by allowing, I think, great data and technology to help our clients understand these assets and the context of how they should own them relative to other liquidity needs, their risk tolerances, and the return expectations are really trying to use tech and data to provide a better understanding and comprehension of the outcomes. And as we continue to introduce these concepts and these approaches, by the way, that there is, as you know, so used to in the traditional side, it – it gives them more comfort around what they should and can expect. And that, to me, is a really important part of what we’re doing. So, we’ve released recently new technology to the wealth sector because, quite frankly, we mentioned it before, the 60-40 portfolio is a thing of the past. And that introduction of about 20 percent into alternatives, we applaud our partners who are – who are suggesting that to their clients. We think it’s something they have to do. What we’re doing to support that is really bringing thought leadership, education, but also portfolio construction techniques and data to bear in that conversation. And this goes back to – it’s no longer an alternative, right? This is a core allocation so the comprehension of what it is you own, the behavior of the asset in good and bad times is so necessary. And that’s become a very big thing with regard to our activities, Barry, because your clients are looking to understand better when you’re talking about assets that are very complex in their nature. RITHOLTZ: So, 60-40 is now 50-30-20, something along those lines? CONWAY: Yes. RITHOLTZ: Really, really intriguing. So, what are clients really looking for these days? We talked about yield. Are they also looking for downside protection on the equity side or inflation hedges you hinted at? How broad are the demands of clients in the alternative space? CONWAY: Yes. It ranges the gamut. And even – we didn’t speak to even hedge funds, we’ve had differing levels of interest in the hedge fund world for years and I, quite frankly, think some degree of disappointment too, Barry, with regard to the alpha, the returns that were produced relevant to the cost. RITHOLTZ: It’s a tough space to say the very least exactly. CONWAY: Exactly right. But when you start to see volatility introducing itself, you can really see where skill plays a critical factor. So, we are absolutely seeing, in the hedge fund, a resurgence of interest and demand by virtue of those who really have honed in on their scale, who have demonstrated an up-and-down markets and ability to protect and preserve capital, but importantly, in a low uncorrelated way build attractive risk-adjusted returns. We’re starting to see more activity there again too. I think with an alternatives, you’ve really seen a predominant demand coming from privates. These private markets, like a set of growths so extraordinarily fast and the opportunities that is rich, the reality too on the public side which is where our hedge funds operate, they continue to, in large part, do a really good job. The issue with our industry now with these 38,000 managers is how do you distill all the information? How do you think about your needs as a client and pick a manager who can deliver the outcomes? And just to give you a sense, the difference now between a top-performing private equity manager, a top quartile versus the bottom quartile, the difference can be measured in tens of percent. RITHOLTZ: Wow. CONWAY: Whereas if you look at the public equity side, for example, a large cap manager, top quartile versus bottom quartile is measured in hundreds of basis points. So, there is definitely a world that has started where the outcomes our clients will experience can be great as they pursue yield, as they pursue diversification, inflation protection, et cetera. I think the caveat that I would say is outcomes can vary greatly. So manager underwriting and the importance of it now, I think, really is this something to pay attention to because if you do have that bottom performing at the bottom quartile manager, it will affect your outcomes, obviously. And that’s what we collectively have to face. RITHOLTZ: So, let’s talk a little bit about real estate. There are a couple of different areas of investment on the private side. Rent to own was a very large one and we’ve seen some lesser by the flip algo-driven approaches. Tell us what Blackrock is doing in the real estate space and how many different approaches are you bringing to bear on this? CONWAY: Yes, we think it’s both equity and debt. Again, no different to the infrastructure side, these projects need to be financed. But on the – as you think about the sectors in which you can avail of the opportunity, you’ve no doubt heard a lot and I mentioned earlier this demand for logistics facilities. The explosion of shopping online and having, until we obviously have the supply chain disruption, an ability to have nearly immediate satisfaction because the delivery of the good to your home has become so readily available. It’s a very different consumer experience. So the explosion and the need for logistics facilities to support this type of behavior of the consumer is really an area that will continue to be of great interest too. And then you think about the transformation of business and you think about the aging world. Unfortunately, you can look at various economies where our populations are decreasing. And quite frankly, we’re getting older. And so, were you’re thinking of the context of that senior living facilities, it becomes a really important part, not just as part of the healthcare solution that come with it, but also from living as well. So, single-family, multifamily, opportunities continue to be something that the world looks at because there is really the shortfall of available properties for people to live in. And as the communities evolve to support the growing age of the population, tremendous opportunity there too. But we won’t give up on office space. It really isn’t going away. Now, if you even think about our younger generation here in BlackRock, they love being in New York, they love being in London, they love being in Hong Kong. So, the shape and the footprint may change slightly. But the necessity to be in the major financial centers, it still exists. But how we weighed the risks has definitely changed, certainly, for the – for the short-term and medium-term future. But real estate continues to be, Barry, a critical part of how we express our thought around the investment opportunity set. But clients largely do this themselves too. The direct investing from the clients is quite significant because they too see this as still as a rich investment ground, albeit, one that has changed quite a bit as a result of COVID. RITHOLTZ: Well, I’m fascinated by the real estate issue especially having seen some massive construction take place in cities pre-pandemic, look over in Manhattan at Hudson Yards and look at what’s taking place in London, not just the center of London but all – but all around it and I’m forced to admit the future is going to look somewhat different than the past with some hybrid combination of collaborative work in the office and remote work from home when it’s convenient, that sort of suggests that we now have an excess of capacity in office space. Do you see it that way or is this just something that we’re going to grow into and just the nature of working in offices is changing but offices are not going away? CONWAY: Yes. I do think there’s – it’s a very valid point and that in certain cities, you will see access, in others we just don’t, Barry. And quite frankly, as a firm, too, as you know, we have adopted flexibility with our teams that were very fortunate. The technologies in which we created at BlackRock has just become such an amazing enabler, not just to help us as we mention manage the portfolios, help us a better portfolio construction, understand risks, but also to communicate with our clients. I think we’ve all witnessed and experienced a way to have connectivity that allows them to believe that commerce can exist beyond the boundaries of one building. However, I do look at our property portfolios and even the things that we’re doing. Rent collections still being extraordinarily high, occupancy now getting back up to pre-pandemic levels, not in all cities, but in many of the major ones that have reopened. And certainly, the demand for people to just socialize, that the demand for human connectivity is really high. It’s palpable, right? We see it here too. The smiles on people’s faces, they’re back in the office, conversing together, innovating together. When people were feeling unsafe, unquestionably, I think the question marks around the role of office space was really brought to bear. But as were coming through this, as you’ve seen vaccine rates change, as you’ve seen the infection rates fall, as you’ve seen confidence grow, the return to work is really happening and return to work to office work is really happening, albeit, now with degrees of flexibility. So, going back to the – I do believe in certain areas. You’re seeing a surplus. But in many areas you’re absolutely seeing a deficit and the reason I say that, Barry, is we are seeing occupancy in certain building at such a high level. And frankly, the demand for more space being so high, it’s uneven and this goes back to then where do you invest our client’s capital, making sense of those trends, predicting where you will see resilience versus stress and building that into the portfolio of consequences as you – as you better risk manage and mitigate. RITHOLTZ: Very interesting. And so, we are seeing this transition across a lot of different segments of investing, are you seeing any products that were or – or investing styles that was once thought of as primarily institutional that are sort of working their way towards the retail side of things? Meaning going from institutional to accredited to mom-and-pop investors? CONWAY: Well, certainly, in the past, private equity was really an asset class for institutional investors. And I think that’s – that has changed in a very profound way. I mentioned earlier are the regulation has become a more adaptive, but we also have heard, in many respects, in providing this access. And I think the perception of owning and be part of this illiquid investment opportunity set was hard to stomach because many didn’t understand the attributes and what it could bring and I think we’ve been trying to solve for that and what you’re seeing now with – with regulators, understanding that the difference between if we take it quite simply as DD versus DC, the differences between the options you as a participant in a retirement plan are so vastly different that – and I think there’s a broad recognition now that there needs to be more equity with regard to what happens there. And private equity been a really established part of the alternatives marketplace was once, I think, really believed to be an institutional asset class, but albeit now has become much more accessible to wealth. We’ve seen it by structuring activities in Europe working with the regulators. Now, we’re able to provide private equity exposure to clients across the continent and really getting access to what was historically very much an institutional asset class. And I do think the receptivity is extraordinarily high just throughout people’s careers, they have seen wealth been created as a result of engineering a great outcome with great management teams integrate business. And I do believe the receptivity towards private equity is high as an example. In the U.S., too, working with the various intermediaries and being able to wrap now private equity in a ’40 Act fund, for example, is possible. And by being able to deliver that to the many as opposed to the few, we think has been a very good success story. And I think, obviously, appreciated by our clients as well. So, I would look at that were seeing across private equity as well as private credit and quite frankly infrastructure accuracy. You’re seeing now regulation that’s becoming more appreciative of these asset classes, you’re seeing a more – a greater level of openness and willingness to allow for these assets to be part of many people’s experiences across their investment portfolio. And now, with innovation around structures, as an industry, were able to wrap these investments in a way that our clients can really access them. So, think across the board, it probably speaks the innovation that’s happening but I do think that accessibility has changed in a very significant way. But you’ve really seen it happen in private equity first and now that’s expanding across these various other asset classes. RITHOLTZ: Quite intriguing. I know I only have you for a relatively limited period of time, so let’s jump to our favorite questions that we ask all of our guests. Starting with tell us what you’ve been streaming these days. Give us your favorite Netflix or Amazon Prime shows. CONWAY: That is an interesting question, Barry. I don’t a hell of a lot of TV, I got to tell you. I am – I keep busy with three wonderful children and a beautiful wife and between the sports activities. When I do watch TV, I have to tell you I’m addicted to sports and having – I may have mentioned earlier, growing up playing rugby which is not the most common sport in the U.S., I stream nonstop the Six Nations that happens in Europe where Ireland is one of those six nations that compete against each other on an annual basis. Right now, they’re playing a lot of sites that are touring for the southern hemisphere. And to me, the free times I have is either enjoying golf or really enjoying rugby because I think it’s an extraordinary sport. Obviously, very physical, but very enjoyable to watch. And that, that truly is my passion outside of family. RITHOLTZ: Interesting stuff. Tell us a bit about your mentors, who helped to shape your early career? CONWAY: Well, it even goes back to some of the aspects of sports. Playing on a team and being on a field where you’re working together, there’s a strategy involved with that. Now, I used to really appreciate how we approach playing in the All-Ireland League. How we thought about our opponents, how we thought about the structure, how we thought about each individual with on the rugby field and the team having a role. They’re all different but your role. And actually, even starting from an early age, Barry, thinking about, I don’t know, it’s sports but how to build a great team with those various skills, perspective, that can be a really, really powerful combination when done well. And certainly, from an early age, that allowed me to appreciate that – actually, in the work environment, it’s not too different. You surround yourself with just really great people that have high integrity that are empathetic and have a degree of humility that when working together, good things can happen. And I will say, it really started at sports. But I think of today and even in BlackRock, how Larry Fink thinks about the world and I think Larry, truly, is a visionary. And then Rob Kapito who really helps lead the charge across our various businesses. Speaking and conversing with them on a daily basis, getting their perspectives, trying to get inside your head and thinking about the world from their vantage point. To me, it’s a huge thing about my ongoing personal career and development and I really enjoy those moments because I think what you recognize is independent of how much you think you know, there’s so much more to know. And this journey is an ever evolving one where you have to appreciate that you’ll never know everything and you need to be a student every single day. So, I’d probably cite those, Barry, as certainly the two most important mentors in my life today, professionally and personally quite frankly. RITHOLTZ: Really. Very interesting. Let’s talk about what you’re reading these days. Tell us about some of your favorite books and what you’re reading currently? CONWAY: Barry, what I love to read, I love to read history, believe it or not. From a very small country that seems to have exported many, many people, love to understand the history of Ireland. So, there’s so many books. And having three children that have been born in the U.S. and my wife is a New Yorker, trying to help them understand some of their history and what made them what they are. I love delving into Irish history and how the country had moments of greatness and moments of tremendous struggle. Outside of that, I really don’t enjoy science fiction or any of these books. I love reading, you name any paper and any magazine on a daily basis. Unfortunately, I wake at about 4:30, 5 o’clock every day. I spent my first two hours of the day just consuming as much information as possible. I enjoy it. But it’s all – it’s really investment-related magazines, not books. It’s every paper that you could possibly imagine, Barry, and I just – I have a great appreciation for certainly trying to be a student of the world because that’s what we’re operating in an I find it just a very interesting avenue to get an appreciation to for the, not just the opportunities, but the challenges we’re collectively facing as a society but also as a business. RITHOLTZ: I’m with you on that mass consumption of investing-related news. It sounds like you and I have the same a morning routine. Let’s talk about of what sort of advice you would give to a recent college graduate who was interested in a career of alternative investments? CONWAY: Well, the industry has – it’s just gone through such extraordinary growth and the difference, when I’ve started versus today, the career opportunity set has changed so much. And I think I try to remind anyone of our analysts who come into each one of our annual classes, right, as we bring in the new recruits. I think about how talented they are for us, Barry, and how privileged we all are to be in this industry and work for the clients that we do. It’s just such an honor to do that. But I kind of – I try to remind them of that. At the end of the day, whether you’re supporting an institution, that institution is the face of many people in the background and alternatives has really now become such an important part of their experience and we talked about earlier just this challenge of retirement, if we do a good job, these institutions that support the many, they can have, hopefully, a retirement that involves dignity and they can have an ability to do things they so wanted to do as they work so hard over their lives. Getting that that personal connection and allowing for those newbies to understand that that’s the effect that you can have, an alternatives whether it’s private equity, real estate, infrastructure, private credit, hedge funds, all of these now, with the scale at which they’re operating at can allow for a great career. But my advice to them is always don’t forget your career is supporting other people. And that comes directly to how we intersect with wealth channel, it comes indirectly as a result of the institutions. And it’s such a privilege to do that. I didn’t envision when I grew up, as I mentioned, my first job, milking cows and back in a small town in the middle of Ireland that I would be one day leading an alternatives business within BlackRock. I see that as a great privilege. So, for those who are joining afresh, hopefully, try to remind them that it is for all of us and show up with empathy, dignity, compassion, and do the best you can, and hopefully, these people be sure will serve them well. RITHOLTZ: And our final question, what you know about the world of alternative investing today you wish you knew 25 years or so ago when you were first getting started? CONWAY: I think if we had invested much more heavily as an industry in technology, we would not be in the position we are today. And I say that, Barry, from a number of aspects. I mentioned in this shortfall of information our clients are dealing with today. They’re making choices to divest from one asset class to invest in another. To do that and do that effectively, they need great transparency, they needed real-time in many respects, it can’t be just a quarterly line basis. And if we had been better prepared as an industry to provide the technology and the data to help our clients really appreciate what it is they own, how we’re managing the assets on their behalf, I think they would be so much better served. I think we’re very fortunate at this firm to have built a business on the back of technology for albeit 30 plus years and were investing over $1 billion a year in technology as I’m sure you know. But we need to see more of that in the industry. So, the client experience is so important, stop, let’s demystify alternatives. It’s not that alternative. Let’s provide education and data and it’s become so large relative to other asset classes, the need to support, to educate, and transmit information, not data, information, so our client understand it, is at a paramount now. And I think it certainly as an industry, things have to change there. If I knew how big the growth would have been and how prominent these asset classes were becoming, I would oppose so much harder on that front 30 years ago. RITHOLTZ: Thank you, Edwin, for being so generous with your time. We’ve been speaking with Edwin Conway. He is the head of Blackrock Investor Alternatives Group. If you enjoy this conversation, please check out all of our prior discussions. You can find those at iTunes, Spotify, wherever you get your podcast at. We love your comments, feedback and suggestions. Write to us at MIB podcast@Bloomberg.net. You can sign up for my daily reads at ritholtz.com. Check out my weekly column at Bloomberg.com/opinion. Follow me on Twitter, @ritholtz. I would be remiss if I did not thank the crack team that helps put these conversations together each week. Mohammed ph is my audio engineer. Paris Wald is my producer, Michael Batnick is my head of research, Atika Valbrun is our project manager. I’m Barry Ritholtz, you’ve been listening to Masters in Business on Bloomberg Radio.   ~~~   The post Transcript: Edwin Conway appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureNov 22nd, 2021