Reedie also served as president of World Anti-Doping Agency Sebastian Coe hails ‘mentor, wise counsel and passionate advisor’ Sir Craig Reedie, a giant of the Olympic movement, who served as chair of the British Olympic Association for more than a decade and was instrumental in bringing the Games to London in 2012, has died at the age of 84. Tributes have poured in for the Scots-born Reedie, who w...
Reedie also served as president of World Anti-Doping Agency Sebastian Coe hails ‘mentor, wise counsel and passionate advisor’ Sir Craig Reedie, a giant of the Olympic movement, who served as chair of the British Olympic Association for more than a decade and was instrumental in bringing the Games to London in 2012, has died at the age of 84. Tributes have poured in for the Scots-born Reedie, who was also president of the World Anti-Doping Agency (Wada) when Russia was found guilty of state-sponsored doping across “a vast majority” of winter and summer sports , including at the 2014 Sochi Olympics. During this tumultuous period, Reedie and Wada recommended that Russia be banned from the 2016 Rio Games – a call that was ultimately rejected by the International Olympic Committee. Continue reading...
WTI crude oil has extended its steep upmove amid renewed geopolitical uncertainty, which has investors on edge. We revisited previous shocks in the price of crude oil and reviewed the subsequent performance of the S & P 500 Index (SPX) . Specifically, we examined the last four major peaks to get a sense of the impact on the equity market. To frame the recent upmove, we share a monthly bar chart of...
WTI crude oil has extended its steep upmove amid renewed geopolitical uncertainty, which has investors on edge. We revisited previous shocks in the price of crude oil and reviewed the subsequent performance of the S & P 500 Index (SPX) . Specifically, we examined the last four major peaks to get a sense of the impact on the equity market. To frame the recent upmove, we share a monthly bar chart of WTI crude oil, which flashed a monthly MACD buy signal in February, marking the culmination of an extended downtrend off the 2022 highs. The signal supports a continuation higher in crude oil in the coming months. While the current geopolitical backdrop may produce near-term peak levels that do not hold, the technical setup suggests WTI crude oil is in the early stages of an up-cycle that could persist for an extended period. Historically, crude oil up-cycles have often lined up with weaker tapes for the equity market. In most cases, the SPX has struggled to sustain upside momentum following major peaks in crude oil and has instead moved into corrective periods or bear market cycles. The most recent example came in March 2022, which may be the closest comparison to the current environment. Following that peak in WTI crude oil, the major indices remained under pressure through much of the year. Other examples show that the equity response is not uniform, conditions generally become more difficult after crude oil price shocks. After the October 2018 peak, the SPX saw a sharp correction before resuming its secular uptrend. In 2011, the response was more of a prolonged trading range. In 2008, crude oil peaked just as the major indices were beginning a severe bear market cycle. Crude oil peaks do not cause every equity drawdown, but history shows they have often coincided with the advent of tougher market conditions. With WTI crude oil having broken out, this does not suggest stocks will break down, but that the SPX is likely to see more choppy, corrective action in the months ...
"Evictions Are An Act Of Policy Violence": Pressley & Dems Introduce Renter Reform Legislation Authored by Jonathan Turley, Rep. Ayanna Pressley (D., Mass.) joined fellow Democrats last week in calling for the passage of the Housing Emergencies Lifeline Program (HELP) Act to “crack down” on some evictions while barring the use of evictions on credit reports. Pressley declared that “evictions are a...
"Evictions Are An Act Of Policy Violence": Pressley & Dems Introduce Renter Reform Legislation Authored by Jonathan Turley, Rep. Ayanna Pressley (D., Mass.) joined fellow Democrats last week in calling for the passage of the Housing Emergencies Lifeline Program (HELP) Act to “crack down” on some evictions while barring the use of evictions on credit reports. Pressley declared that “evictions are an act of policy violence.” Promoting the act, Pressley said : “Eviction is an act of violence, and we have to do everything to prevent it. It is devastating for the families. It degrades the health of communities. There is great stigma associated with it. It affects your credit score. Housing is a human right. It is a predictor of health outcomes. It’s essential for social and economic mobility…” The HELP Act would prohibit the credit reporting of evictions and utility debt. That is a major indicator for credit companies and would deny access to the information for those reviewing the financial history of people seeking loans and other benefits. It would also fund legal counsel for people contesting evictions. It is co-sponsored by Rep. Rosa DeLauro (D., Conn.) and Rep. Jimmy Gomez (D., Cal.) Critics ripped into Pressley over her family’s reported millions held in rental properties. The true concern, however, should be in Congress dictating the removal of key financial history from debt reports. It is one thing to provide assistance to renters. However, these companies play a key role in allowing a wide array of businesses to judge the risk of individuals seeking contracts, leases, or loans. Forcing the non-reporting of such records undermines the faith and utility of such reports. The manipulation of financial reports is a dangerous precedent in politics. Not long ago, some states, like New York, mandated the expungement or sealing of criminal justice records to help people secure jobs. Yet this is an effort by Democrats to artificially improve credit reports by removing e...