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- ShiyingShiying
  ·2021-03-05
  Gosh...
  Nasdaq ends sharply lower after Powell comments
  (Reuters) - Wall Street ended sharply lower on Thursday, leaving the Nasdaq down nearly 10% from its
  Nasdaq ends sharply lower after Powell comments
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- ShiyingShiying
  ·2021-03-05
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  A Warning From Warren Buffett: We’re a Long Way From 1981
  The Berkshire Hathaway annual letter — penned, as always, by CEO Warren Buffett, now 90 years old —
  A Warning From Warren Buffett: We’re a Long Way From 1981
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- ShiyingShiying
  ·2021-03-05
  Nice
  Palantir advanced more than 3%
  Cathie Wood's ARK Investment added nearly 2.7 million shares of Palantir (NYSE: PLTR) on Wednesday a
  Palantir advanced more than 3%
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- ShiyingShiying
  ·2021-02-04
  Nice
  Nokia warns of "challenging" year as it plays catch-up
  HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this
  Nokia warns of "challenging" year as it plays catch-up
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- ShiyingShiying
  ·2021-02-04
  Nice
  Biden administration to restart permitting for major U.S. offshore wind project
  (Reuters) - The Biden administration said on Wednesday it would restart permitting for the first maj
  Biden administration to restart permitting for major U.S. offshore wind project
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It still held below last week’s one-year high of 1.614%.</p><p>Some investors had expected the Fed might step up purchases of long-term bonds, helping push down long-term interest rates.</p><p>“The market has been worried about the rise in long-term interest rates and the Fed chairman in his commentary didn’t really push back towards this increase in rates and the market took it as a signal that yields could rise further, which is what has happened,” said Scott Brown, chief economist at Raymond James in Florida.</p><p>GRAPHIC-Nasdaq tumbles 10% from February record high -</p><p>In a day of heavy trading on Wall Street, the Nasdaq wiped out all of its year-to-date gains and ended down 9.7% from its record closing high on Feb. 12. The S&amp;P 500 has declined over 4% from its record high close on Feb. 12.</p><p>Data showed the number of Americans filing for jobless benefits rose last week, likely boosted by brutal winter storms in the densely populated South, though the labor market outlook is improving amid declining new COVID-19 cases.</p><p>The crucial monthly payrolls report is expected on Friday.</p><p>Wall Street has been under pressure in recent sessions as a spike in U.S. bond yields hurt valuations of high-flying tech stocks. Stocks expected to thrive as the economy reopens outperformed in recent weeks due to expectations of a new round of fiscal aid and vaccinations.</p><p>The S&amp;P 500 energy sector index jumped 2.5% and reached a one-year high on the back of higher oil prices.</p><p>The Dow Jones Industrial Average fell 1.11% to end at 30,924.14 points, while the S&amp;P 500 lost 1.34% to 3,768.47.</p><p>The Nasdaq Composite dropped 2.11% to 12,723.47.</p><p>Volume on U.S. exchanges was 18 billion shares, compared with the 15 billion average for the full session over the last 20 trading days.</p><p>Apple Inc, Tesla Inc and PayPal Holdings Inc were among the largest drags on the S&amp;P 500. Tesla dropped almost 5%.</p><p>Tech stocks are particularly sensitive to rising yields because their value rests heavily on future earnings, which are discounted more deeply when bond returns go up.</p><p>“Valuations are at the high end of historic ranges, so you are seeing selling, especially in the higher valuation areas like the Nasdaq and tech general,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 3.79-to-1 ratio; on Nasdaq, a 5.62-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 28 new 52-week highs and no new lows; the Nasdaq Composite recorded 173 new highs and 151 new lows.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq ends sharply lower after Powell comments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNasdaq ends sharply lower after Powell comments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 08:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/nasdaq-ends-sharply-lower-after-powell-comments-idUSKBN2AW1GH><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street ended sharply lower on Thursday, leaving the Nasdaq down nearly 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/nasdaq-ends-sharply-lower-after-powell-comments-idUSKBN2AW1GH\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-usa-stocks/nasdaq-ends-sharply-lower-after-powell-comments-idUSKBN2AW1GH","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151606825","content_text":"(Reuters) - Wall Street ended sharply lower on Thursday, leaving the Nasdaq down nearly 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields.A decline of 10% from its February record high would confirm the Nasdaq is in a correction.The benchmark 10-year Treasury yield spiked to 1.533% after Powell’s comments, which did not point to changes in the Fed’s asset purchases to tackle the recent jump in yields. It still held below last week’s one-year high of 1.614%.Some investors had expected the Fed might step up purchases of long-term bonds, helping push down long-term interest rates.“The market has been worried about the rise in long-term interest rates and the Fed chairman in his commentary didn’t really push back towards this increase in rates and the market took it as a signal that yields could rise further, which is what has happened,” said Scott Brown, chief economist at Raymond James in Florida.GRAPHIC-Nasdaq tumbles 10% from February record high -In a day of heavy trading on Wall Street, the Nasdaq wiped out all of its year-to-date gains and ended down 9.7% from its record closing high on Feb. 12. The S&P 500 has declined over 4% from its record high close on Feb. 12.Data showed the number of Americans filing for jobless benefits rose last week, likely boosted by brutal winter storms in the densely populated South, though the labor market outlook is improving amid declining new COVID-19 cases.The crucial monthly payrolls report is expected on Friday.Wall Street has been under pressure in recent sessions as a spike in U.S. bond yields hurt valuations of high-flying tech stocks. Stocks expected to thrive as the economy reopens outperformed in recent weeks due to expectations of a new round of fiscal aid and vaccinations.The S&P 500 energy sector index jumped 2.5% and reached a one-year high on the back of higher oil prices.The Dow Jones Industrial Average fell 1.11% to end at 30,924.14 points, while the S&P 500 lost 1.34% to 3,768.47.The Nasdaq Composite dropped 2.11% to 12,723.47.Volume on U.S. exchanges was 18 billion shares, compared with the 15 billion average for the full session over the last 20 trading days.Apple Inc, Tesla Inc and PayPal Holdings Inc were among the largest drags on the S&P 500. Tesla dropped almost 5%.Tech stocks are particularly sensitive to rising yields because their value rests heavily on future earnings, which are discounted more deeply when bond returns go up.“Valuations are at the high end of historic ranges, so you are seeing selling, especially in the higher valuation areas like the Nasdaq and tech general,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.Declining issues outnumbered advancing ones on the NYSE by a 3.79-to-1 ratio; on Nasdaq, a 5.62-to-1 ratio favored decliners.The S&P 500 posted 28 new 52-week highs and no new lows; the Nasdaq Composite recorded 173 new highs and 151 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367898086,"gmtCreate":1614932159545,"gmtModify":1704777104291,"author":{"id":"3562241603762808","authorId":"3562241603762808","name":"Shiying","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562241603762808","authorIdStr":"3562241603762808"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/367898086","repostId":"1112359794","repostType":4,"repost":{"id":"1112359794","pubTimestamp":1614911874,"share":"https://ttm.financial/m/news/1112359794?lang=&edition=fundamental","pubTime":"2021-03-05 10:37","market":"us","language":"en","title":"A Warning From Warren Buffett: We’re a Long Way From 1981","url":"https://stock-news.laohu8.com/highlight/detail?id=1112359794","media":"Nasdaq","summary":"The Berkshire Hathaway annual letter — penned, as always, by CEO Warren Buffett, now 90 years old — ","content":"<p>The Berkshire Hathaway annual letter — penned, as always, by CEO Warren Buffett, now 90 years old — came out this past weekend. </p><p>Reading the Berkshire letter, and hunting for easter eggs of Buffett bon mots and insights, has become a kind of annual tradition for much of the financial world. Analysts, money managers, journalists, and investors of all stripes tend to read it the weekend it comes out, even if they own no shares.</p><p>Your editor is one such reader: Though never a shareholder, we’ve been perusing the Buffett letters for nearly 20 years. We also have all of the old letters on file, dating back long before we were born. The best one of all, in our view, is the Buffett Partnership letter covering 1965, available&nbsp;here.</p><p>The 2021 letter felt somber and restrained compared to past years. This makes sense, given what America and the world had to go through in 2020.</p><p>Still, in terms of pessimism and dark warnings — far from the normal fare for Buffett — this passage on the “bleak future” for fixed-income investors stood out:</p><p><i>[B]onds are not the place to be these days. Can you believe that the income recently available from a 10-year U.S. Treasury bond – the yield was 0.93% at year end – had fallen 94% from the 15.8% yield available in September 1981? In certain large and important countries, such as Germany and Japan, investors earn a negative return on trillions of dollars of sovereign debt. Fixed-income investors worldwide – whether pension funds, insurance companies or retirees – face a bleak future.</i></p><p>Per Buffett’s calculation, over the course of almost four decades — from September 1981 to year-end 2020 — the yield on the 10-year note fell by 94%.</p><p>In regard to falling yields, here is another remarkable stat per Chris Bloomstran, the president and chief investment officer of Semper Augustus: As of Feb. 27, the price of the U.S. 30-year Treasury bond had fallen by more than 16% in three months — a drop that erased 10 full years’ worth of coupon payments. Also per Bloomstran, the 10-year gave up 7 years’ worth of coupons in that time.</p><p>Imagine clipping coupons on your government bonds for a full decade — then taking a hit on the principal worth all of the payments and then some, over the course of just 12 weeks. Now imagine trying to be a government bond investor moving forward.</p><p>For holders of long-dated U.S. Treasuries, the pain is increasing because the U.S. economy is reflating, powered by vaccine optimism, pent-up demand, and a tsunami of fiscal stimulus. Economic growth of the rip-roaring variety is coming, with inflation to follow on the heels of that.</p><p>If you’ll pardon the cheap rhyme, the interest-rate mantra “lower for longer” now looks “wrong and wronger.” Per data from Bespoke Investment Group, the 2021 sell-off in the Merrill Lynch 10+ Year Treasury Index has already produced the third-worst percentage since records began in 1988 — and the year is still young.</p><p>Then, too, Buffett’s harkening back to 1981, and a 94% decline in yields over nearly 40 years, is a sobering reminder of how far the pendulum has swung. The chart below, via FRED, shows the four-decade journey of the 10-year yield from 1980 to today.</p><p>It is hard to beat the 10-year yield for a vivid illustration of what Ray Dalio calls “the long-term debt cycle.”</p><p><img src=\"https://static.tigerbbs.com/36263398704c16a502896748461035c5\" tg-width=\"808\" tg-height=\"566\" referrerpolicy=\"no-referrer\">The Long-Term Debt Cycle is the cyclical pattern by which interest rates and inflation pressures tend to fall, even as debt and leverage levels rise, for decades at a time.</p><p>At the beginning of the long-term debt cycle — which had its genesis in 1981 — inflation was sky-high, while debt and leverage levels were low.</p><p>Interest rates peaked in 1981 because that was the year Paul Volcker, Chairman of the Federal Reserve, finally “broke the back of inflation” in a way investors could acknowledge.</p><p>Volcker’s efforts to kill off inflation, through a multi-year period of painfully high interest rates, were part of what cleaned out the debt and the leverage. The United States went through not one, but two recessions in the early 1980s, spaced about 14 months apart, as the price of borrowing went through the roof.</p><p>But Volker’s successful anti-inflation campaign, coupled with low debt-and-leverage levels, was the very thing that allowed a new long-term debt cycle to kick off.</p><p>The build-up of debt to GDP from 1980 onward, as shown in the FRED chart below, is a sort of inverted image of the falling 10-year yield. That is because, in a standard long-term debt cycle, debt levels go up as inflation and borrowing costs go down.<img src=\"https://static.tigerbbs.com/078f1f48bf80854f84c01fc648e7b5f4\" tg-width=\"809\" tg-height=\"563\" referrerpolicy=\"no-referrer\">The “bleak future” that Buffett warned of for fixed income investors relates to what happens when the long-term debt cycle reaches its farthest point.</p><p>Think of a giant, slow-moving pendulum that swings in the same direction over a 40-plus-year period. Over that entire window of time, bond yields and inflation pressures are falling, even as debt and leverage levels rise.</p><p>Once the pendulum starts to swing the other way, a multi-decade trend in the opposite direction occurs. Instead of falling for decades on end, yields go into a pattern of rising for decades on end (which means bond prices fall); and instead of debt and leverage building up to ever-higher levels as a percentage of output over time, there is a far less pleasant multi-decade period where debt and leverage levels are cut back (or inflated away) to a lesser percentage of output over time, rolling back the previous extreme.</p><p>Then, once the pendulum has swung all the way back, it swings forward yet again, a kind of permanent oscillation between high interest rates versus low, coupled with low debt levels versus high. And because a nation’s economy is immortal — assuming the nation continues to exist — these generational patterns of build-up and roll-back can repeat ad infinitum.</p><p>What a majority of investors haven’t yet realized is that their entire personal experience in markets — going all the way back to 1981 — is geared toward the pleasant half of the long-term debt cycle.</p><p>All that they know on a gut-feel basis — unless they were active market participants in the 1970s — is that left-to-right pendulum swing where interest rates fall, as debt and leverage rise and rise.</p><p>Buffett’s warning to fixed-income investors is a reminder we are headed for the less-pleasant half of the long-term debt cycle — the multi-decade period where interest rates rise and rise, and then rise some more, as governments, corporations, and consumers either actively reduce their debt loads or see the value of those debts inflated away.</p><p>Then, too, inflation is a part of the process because the debt adjustment almost always happens more via inflation than hardcore belt-tightening: It is just easier to reduce the debt load via printing press, which reduces the percentage ratio of debt-to-output over time. That tendency also explains why inflation will likely roar higher again — with interest rates rising up with it — over the next decade or two (or three, or four).</p><p>Just for fun, we took the 10-year yield chart and flipped the image horizontally (below), to create a visual picture of how the next 40 years might look if the long-term debt cycle retraced its steps perfectly. It’s never that simple, of course, but as a mental exercise, it’s worthwhile trying to imagine interest rates following a path like the one below.<img src=\"https://static.tigerbbs.com/e31778f96af4d69be42e3fed9c5d32a1\" tg-width=\"809\" tg-height=\"564\" referrerpolicy=\"no-referrer\">The bottom line is that very few investors are ready for the world that is coming.</p><p>With “lower for longer” becoming “wrong and wronger” as the U.S. prepares for emerging-market-like levels of growth in the year ahead — and the Federal Reserve signaling it is fine with a jump in long-term yields, at least for now — dislocations in vulnerable areas of the stock market are likely just beginning.</p><p><i>Originally by Beverly Becker for TradeSmith.com</i>.</p><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Warning From Warren Buffett: We’re a Long Way From 1981</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA Warning From Warren Buffett: We’re a Long Way From 1981\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 10:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.nasdaq.com/articles/a-warning-from-warren-buffett%3A-were-a-long-way-from-1981-2021-03-04><strong>Nasdaq</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Berkshire Hathaway annual letter — penned, as always, by CEO Warren Buffett, now 90 years old — came out this past weekend. Reading the Berkshire letter, and hunting for easter eggs of Buffett bon...</p>\n\n<a href=\"https://www.nasdaq.com/articles/a-warning-from-warren-buffett%3A-were-a-long-way-from-1981-2021-03-04\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.nasdaq.com/articles/a-warning-from-warren-buffett%3A-were-a-long-way-from-1981-2021-03-04","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112359794","content_text":"The Berkshire Hathaway annual letter — penned, as always, by CEO Warren Buffett, now 90 years old — came out this past weekend. Reading the Berkshire letter, and hunting for easter eggs of Buffett bon mots and insights, has become a kind of annual tradition for much of the financial world. Analysts, money managers, journalists, and investors of all stripes tend to read it the weekend it comes out, even if they own no shares.Your editor is one such reader: Though never a shareholder, we’ve been perusing the Buffett letters for nearly 20 years. We also have all of the old letters on file, dating back long before we were born. The best one of all, in our view, is the Buffett Partnership letter covering 1965, available here.The 2021 letter felt somber and restrained compared to past years. This makes sense, given what America and the world had to go through in 2020.Still, in terms of pessimism and dark warnings — far from the normal fare for Buffett — this passage on the “bleak future” for fixed-income investors stood out:[B]onds are not the place to be these days. Can you believe that the income recently available from a 10-year U.S. Treasury bond – the yield was 0.93% at year end – had fallen 94% from the 15.8% yield available in September 1981? In certain large and important countries, such as Germany and Japan, investors earn a negative return on trillions of dollars of sovereign debt. Fixed-income investors worldwide – whether pension funds, insurance companies or retirees – face a bleak future.Per Buffett’s calculation, over the course of almost four decades — from September 1981 to year-end 2020 — the yield on the 10-year note fell by 94%.In regard to falling yields, here is another remarkable stat per Chris Bloomstran, the president and chief investment officer of Semper Augustus: As of Feb. 27, the price of the U.S. 30-year Treasury bond had fallen by more than 16% in three months — a drop that erased 10 full years’ worth of coupon payments. Also per Bloomstran, the 10-year gave up 7 years’ worth of coupons in that time.Imagine clipping coupons on your government bonds for a full decade — then taking a hit on the principal worth all of the payments and then some, over the course of just 12 weeks. Now imagine trying to be a government bond investor moving forward.For holders of long-dated U.S. Treasuries, the pain is increasing because the U.S. economy is reflating, powered by vaccine optimism, pent-up demand, and a tsunami of fiscal stimulus. Economic growth of the rip-roaring variety is coming, with inflation to follow on the heels of that.If you’ll pardon the cheap rhyme, the interest-rate mantra “lower for longer” now looks “wrong and wronger.” Per data from Bespoke Investment Group, the 2021 sell-off in the Merrill Lynch 10+ Year Treasury Index has already produced the third-worst percentage since records began in 1988 — and the year is still young.Then, too, Buffett’s harkening back to 1981, and a 94% decline in yields over nearly 40 years, is a sobering reminder of how far the pendulum has swung. The chart below, via FRED, shows the four-decade journey of the 10-year yield from 1980 to today.It is hard to beat the 10-year yield for a vivid illustration of what Ray Dalio calls “the long-term debt cycle.”The Long-Term Debt Cycle is the cyclical pattern by which interest rates and inflation pressures tend to fall, even as debt and leverage levels rise, for decades at a time.At the beginning of the long-term debt cycle — which had its genesis in 1981 — inflation was sky-high, while debt and leverage levels were low.Interest rates peaked in 1981 because that was the year Paul Volcker, Chairman of the Federal Reserve, finally “broke the back of inflation” in a way investors could acknowledge.Volcker’s efforts to kill off inflation, through a multi-year period of painfully high interest rates, were part of what cleaned out the debt and the leverage. The United States went through not one, but two recessions in the early 1980s, spaced about 14 months apart, as the price of borrowing went through the roof.But Volker’s successful anti-inflation campaign, coupled with low debt-and-leverage levels, was the very thing that allowed a new long-term debt cycle to kick off.The build-up of debt to GDP from 1980 onward, as shown in the FRED chart below, is a sort of inverted image of the falling 10-year yield. That is because, in a standard long-term debt cycle, debt levels go up as inflation and borrowing costs go down.The “bleak future” that Buffett warned of for fixed income investors relates to what happens when the long-term debt cycle reaches its farthest point.Think of a giant, slow-moving pendulum that swings in the same direction over a 40-plus-year period. Over that entire window of time, bond yields and inflation pressures are falling, even as debt and leverage levels rise.Once the pendulum starts to swing the other way, a multi-decade trend in the opposite direction occurs. Instead of falling for decades on end, yields go into a pattern of rising for decades on end (which means bond prices fall); and instead of debt and leverage building up to ever-higher levels as a percentage of output over time, there is a far less pleasant multi-decade period where debt and leverage levels are cut back (or inflated away) to a lesser percentage of output over time, rolling back the previous extreme.Then, once the pendulum has swung all the way back, it swings forward yet again, a kind of permanent oscillation between high interest rates versus low, coupled with low debt levels versus high. And because a nation’s economy is immortal — assuming the nation continues to exist — these generational patterns of build-up and roll-back can repeat ad infinitum.What a majority of investors haven’t yet realized is that their entire personal experience in markets — going all the way back to 1981 — is geared toward the pleasant half of the long-term debt cycle.All that they know on a gut-feel basis — unless they were active market participants in the 1970s — is that left-to-right pendulum swing where interest rates fall, as debt and leverage rise and rise.Buffett’s warning to fixed-income investors is a reminder we are headed for the less-pleasant half of the long-term debt cycle — the multi-decade period where interest rates rise and rise, and then rise some more, as governments, corporations, and consumers either actively reduce their debt loads or see the value of those debts inflated away.Then, too, inflation is a part of the process because the debt adjustment almost always happens more via inflation than hardcore belt-tightening: It is just easier to reduce the debt load via printing press, which reduces the percentage ratio of debt-to-output over time. That tendency also explains why inflation will likely roar higher again — with interest rates rising up with it — over the next decade or two (or three, or four).Just for fun, we took the 10-year yield chart and flipped the image horizontally (below), to create a visual picture of how the next 40 years might look if the long-term debt cycle retraced its steps perfectly. It’s never that simple, of course, but as a mental exercise, it’s worthwhile trying to imagine interest rates following a path like the one below.The bottom line is that very few investors are ready for the world that is coming.With “lower for longer” becoming “wrong and wronger” as the U.S. prepares for emerging-market-like levels of growth in the year ahead — and the Federal Reserve signaling it is fine with a jump in long-term yields, at least for now — dislocations in vulnerable areas of the stock market are likely just beginning.Originally by Beverly Becker for TradeSmith.com.The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364788892,"gmtCreate":1614874306616,"gmtModify":1704776478983,"author":{"id":"3562241603762808","authorId":"3562241603762808","name":"Shiying","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562241603762808","authorIdStr":"3562241603762808"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364788892","repostId":"1116029005","repostType":4,"repost":{"id":"1116029005","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614869464,"share":"https://ttm.financial/m/news/1116029005?lang=&edition=fundamental","pubTime":"2021-03-04 22:51","market":"other","language":"en","title":"Palantir advanced more than 3%","url":"https://stock-news.laohu8.com/highlight/detail?id=1116029005","media":"老虎资讯综合","summary":"Cathie Wood's ARK Investment added nearly 2.7 million shares of Palantir (NYSE: PLTR) on Wednesday a","content":"<p>Cathie Wood's ARK Investment added nearly 2.7 million shares of Palantir (NYSE: PLTR) on Wednesday as well as adding to recent SPAC deals Butterfly Network (NYSE: BFLY) and CM Life Sciences (NASDAQ: CMLF) .</p><p>The firm also bought more Tesla (NASDAQ: TSLA) and <a href=\"https://laohu8.com/S/ZM\">Zoom</a> (NASDAQ: ZM) shares, among other trades.</p><p>ARK discloses its trades daily M-F. The daily trades are not comprehensive lists of a day's trades for the ARK ETFs and exclude initial/secondary public offering transactions and ETF Creation/Redemption Unit activity. Wood is famous for her ultra-bullish call on Tesla and is regarded as having the hottest hand on the Street currently.</p><p><img src=\"https://static.tigerbbs.com/0e93885a69c197604ed718cd79e2c643\" tg-width=\"691\" tg-height=\"498\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir advanced more than 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir advanced more than 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-03-04 22:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Cathie Wood's ARK Investment added nearly 2.7 million shares of Palantir (NYSE: PLTR) on Wednesday as well as adding to recent SPAC deals Butterfly Network (NYSE: BFLY) and CM Life Sciences (NASDAQ: CMLF) .</p><p>The firm also bought more Tesla (NASDAQ: TSLA) and <a href=\"https://laohu8.com/S/ZM\">Zoom</a> (NASDAQ: ZM) shares, among other trades.</p><p>ARK discloses its trades daily M-F. The daily trades are not comprehensive lists of a day's trades for the ARK ETFs and exclude initial/secondary public offering transactions and ETF Creation/Redemption Unit activity. Wood is famous for her ultra-bullish call on Tesla and is regarded as having the hottest hand on the Street currently.</p><p><img src=\"https://static.tigerbbs.com/0e93885a69c197604ed718cd79e2c643\" tg-width=\"691\" tg-height=\"498\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116029005","content_text":"Cathie Wood's ARK Investment added nearly 2.7 million shares of Palantir (NYSE: PLTR) on Wednesday as well as adding to recent SPAC deals Butterfly Network (NYSE: BFLY) and CM Life Sciences (NASDAQ: CMLF) .The firm also bought more Tesla (NASDAQ: TSLA) and Zoom (NASDAQ: ZM) shares, among other trades.ARK discloses its trades daily M-F. The daily trades are not comprehensive lists of a day's trades for the ARK ETFs and exclude initial/secondary public offering transactions and ETF Creation/Redemption Unit activity. Wood is famous for her ultra-bullish call on Tesla and is regarded as having the hottest hand on the Street currently.","news_type":1},"isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317508249,"gmtCreate":1612453148781,"gmtModify":1704871498520,"author":{"id":"3562241603762808","authorId":"3562241603762808","name":"Shiying","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562241603762808","authorIdStr":"3562241603762808"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317508249","repostId":"1162866028","repostType":4,"repost":{"id":"1162866028","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1612435357,"share":"https://ttm.financial/m/news/1162866028?lang=&edition=fundamental","pubTime":"2021-02-04 18:42","market":"us","language":"en","title":"Nokia warns of \"challenging\" year as it plays catch-up","url":"https://stock-news.laohu8.com/highlight/detail?id=1162866028","media":"Reuters","summary":"HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this","content":"<p>HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this year as it tries to catch up with rivals after a strong finish to 2020.</p>\n<p>While both Nokia and rival Ericsson have been gaining 5G customers that might otherwise have gone to China’s Huawei, Ericsson has fared better, winning also big 5G contracts in China, where the deployment of the next-generation network is in full swing.</p>\n<p>“We have not yet made a breakthrough in 5G (in China) but of course we are not excluding that possibility going forward,” new Chief Executive Pekka Lundmark told Reuters. “But we want to be prudent so that we do not want to be there at any cost.”</p>\n<p>Lundmark reported better than expected fourth-quarter revenue and underlying profit on Thursday but Nokia forecast 2021 revenue to fall to between 20.6-21.8 billion euros ($25-26 billion) from 21.9 billion euros in 2020.</p>\n<p>“We expect 2021 to be challenging, a year of transition, with meaningful headwinds due to market share loss and price erosion in North America,” Lundmark said.</p>\n<p>Nokia said it had lost a part of the Verizon 5G contract in the United States to Samsung Electronics.</p>\n<p>Lundmark announced a new strategyherein October, under which the company will have four business groups and said Nokia would \"do whatever it takes\" to take the lead in 5G, as it banks on also capturing share from Huawei.</p>\n<p>“We believe that we have year-to-date captured about half of the geopolitically influenced opportunities that are there,” Lundmark said. “Most of these cases have been in Europe.”</p>\n<p>Nokia said a growth in its 5G equipment sales in the quarter was partially offset by decreases in its legacy radio access products. Revenue at its mainstay networks business fell 7% to 5.04 billion euros ($6.05 billion).</p>\n<p>Revenue overall fell 5% to 6.57 billion euros during the quarter, but beat a consensus figure of 6.42 billion euros, Refinitiv Eikon data showed.</p>\n<p>Quarterly underlying earnings fell to 0.14 euros per share from 0.15 euros a year ago, beating the 0.11 euros consensus.</p>\n<p>There was also a boost of about 250 million euros one-time items and net sales of 150 million in the quarter that it had expected in 2021.</p>\n<p>Nokia shares, which were down 1.9% in morning trade, have seen wild swings over the last two weeks as the stock has been targeted by the retail trading frenzy, alongside GameStop Corp and other tech companies.</p>\n<p>“We maintain our view that Nokia continues to lag Ericsson in technology and is unlikely to catch up before 2022,” Liberum analyst Janardan Menon said.</p>\n<p>($1 = 0.8345 euros)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nokia warns of \"challenging\" year as it plays catch-up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNokia warns of \"challenging\" year as it plays catch-up\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-04 18:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this year as it tries to catch up with rivals after a strong finish to 2020.</p>\n<p>While both Nokia and rival Ericsson have been gaining 5G customers that might otherwise have gone to China’s Huawei, Ericsson has fared better, winning also big 5G contracts in China, where the deployment of the next-generation network is in full swing.</p>\n<p>“We have not yet made a breakthrough in 5G (in China) but of course we are not excluding that possibility going forward,” new Chief Executive Pekka Lundmark told Reuters. “But we want to be prudent so that we do not want to be there at any cost.”</p>\n<p>Lundmark reported better than expected fourth-quarter revenue and underlying profit on Thursday but Nokia forecast 2021 revenue to fall to between 20.6-21.8 billion euros ($25-26 billion) from 21.9 billion euros in 2020.</p>\n<p>“We expect 2021 to be challenging, a year of transition, with meaningful headwinds due to market share loss and price erosion in North America,” Lundmark said.</p>\n<p>Nokia said it had lost a part of the Verizon 5G contract in the United States to Samsung Electronics.</p>\n<p>Lundmark announced a new strategyherein October, under which the company will have four business groups and said Nokia would \"do whatever it takes\" to take the lead in 5G, as it banks on also capturing share from Huawei.</p>\n<p>“We believe that we have year-to-date captured about half of the geopolitically influenced opportunities that are there,” Lundmark said. “Most of these cases have been in Europe.”</p>\n<p>Nokia said a growth in its 5G equipment sales in the quarter was partially offset by decreases in its legacy radio access products. Revenue at its mainstay networks business fell 7% to 5.04 billion euros ($6.05 billion).</p>\n<p>Revenue overall fell 5% to 6.57 billion euros during the quarter, but beat a consensus figure of 6.42 billion euros, Refinitiv Eikon data showed.</p>\n<p>Quarterly underlying earnings fell to 0.14 euros per share from 0.15 euros a year ago, beating the 0.11 euros consensus.</p>\n<p>There was also a boost of about 250 million euros one-time items and net sales of 150 million in the quarter that it had expected in 2021.</p>\n<p>Nokia shares, which were down 1.9% in morning trade, have seen wild swings over the last two weeks as the stock has been targeted by the retail trading frenzy, alongside GameStop Corp and other tech companies.</p>\n<p>“We maintain our view that Nokia continues to lag Ericsson in technology and is unlikely to catch up before 2022,” Liberum analyst Janardan Menon said.</p>\n<p>($1 = 0.8345 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9bc0118e35c2c3a2c9e015f33f2d4de8","relate_stocks":{"NOK":"诺基亚"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162866028","content_text":"HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia warned of challenges to come this year as it tries to catch up with rivals after a strong finish to 2020.\nWhile both Nokia and rival Ericsson have been gaining 5G customers that might otherwise have gone to China’s Huawei, Ericsson has fared better, winning also big 5G contracts in China, where the deployment of the next-generation network is in full swing.\n“We have not yet made a breakthrough in 5G (in China) but of course we are not excluding that possibility going forward,” new Chief Executive Pekka Lundmark told Reuters. “But we want to be prudent so that we do not want to be there at any cost.”\nLundmark reported better than expected fourth-quarter revenue and underlying profit on Thursday but Nokia forecast 2021 revenue to fall to between 20.6-21.8 billion euros ($25-26 billion) from 21.9 billion euros in 2020.\n“We expect 2021 to be challenging, a year of transition, with meaningful headwinds due to market share loss and price erosion in North America,” Lundmark said.\nNokia said it had lost a part of the Verizon 5G contract in the United States to Samsung Electronics.\nLundmark announced a new strategyherein October, under which the company will have four business groups and said Nokia would \"do whatever it takes\" to take the lead in 5G, as it banks on also capturing share from Huawei.\n“We believe that we have year-to-date captured about half of the geopolitically influenced opportunities that are there,” Lundmark said. “Most of these cases have been in Europe.”\nNokia said a growth in its 5G equipment sales in the quarter was partially offset by decreases in its legacy radio access products. Revenue at its mainstay networks business fell 7% to 5.04 billion euros ($6.05 billion).\nRevenue overall fell 5% to 6.57 billion euros during the quarter, but beat a consensus figure of 6.42 billion euros, Refinitiv Eikon data showed.\nQuarterly underlying earnings fell to 0.14 euros per share from 0.15 euros a year ago, beating the 0.11 euros consensus.\nThere was also a boost of about 250 million euros one-time items and net sales of 150 million in the quarter that it had expected in 2021.\nNokia shares, which were down 1.9% in morning trade, have seen wild swings over the last two weeks as the stock has been targeted by the retail trading frenzy, alongside GameStop Corp and other tech companies.\n“We maintain our view that Nokia continues to lag Ericsson in technology and is unlikely to catch up before 2022,” Liberum analyst Janardan Menon said.\n($1 = 0.8345 euros)","news_type":1},"isVote":1,"tweetType":1,"viewCount":324,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317508954,"gmtCreate":1612453128178,"gmtModify":1704871497871,"author":{"id":"3562241603762808","authorId":"3562241603762808","name":"Shiying","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562241603762808","authorIdStr":"3562241603762808"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317508954","repostId":"1163777643","repostType":4,"repost":{"id":"1163777643","pubTimestamp":1612422826,"share":"https://ttm.financial/m/news/1163777643?lang=&edition=fundamental","pubTime":"2021-02-04 15:13","market":"us","language":"en","title":"Biden administration to restart permitting for major U.S. offshore wind project","url":"https://stock-news.laohu8.com/highlight/detail?id=1163777643","media":"cnbc","summary":"(Reuters) - The Biden administration said on Wednesday it would restart permitting for the first maj","content":"<div>\n<p>(Reuters) - The Biden administration said on Wednesday it would restart permitting for the first major U.S. offshore wind farm, reversing a Trump administration decision that canceled the process late...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-biden-offshore-wind/biden-administration-to-restart-permitting-for-major-u-s-offshore-wind-project-idUSKBN2A32YG\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biden administration to restart permitting for major U.S. offshore wind project</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBiden administration to restart permitting for major U.S. offshore wind project\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-04 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-biden-offshore-wind/biden-administration-to-restart-permitting-for-major-u-s-offshore-wind-project-idUSKBN2A32YG><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - The Biden administration said on Wednesday it would restart permitting for the first major U.S. offshore wind farm, reversing a Trump administration decision that canceled the process late...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-biden-offshore-wind/biden-administration-to-restart-permitting-for-major-u-s-offshore-wind-project-idUSKBN2A32YG\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.reuters.com/article/us-usa-biden-offshore-wind/biden-administration-to-restart-permitting-for-major-u-s-offshore-wind-project-idUSKBN2A32YG","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1163777643","content_text":"(Reuters) - The Biden administration said on Wednesday it would restart permitting for the first major U.S. offshore wind farm, reversing a Trump administration decision that canceled the process late last year.\nThe U.S. Bureau of Ocean Energy Management (BOEM) said in a statement it would resume an environmental review of the Vineyard Wind project as part of the administration’s broad plan to speed renewable energy development on federal lands and waters.\n“BOEM is committed to conducting a robust and timely review of the proposed project,” Director Amanda Lefton said in the statement.\nIn December, Vineyard Wind requested a pause in the federal permitting process while it determined whether changes to its design were necessary because of a switch in turbine manufacturers, prompting BOEM to terminate its entire review.\nFormer President Donald Trump had promised to support the nascent U.S. industry as part of his energy dominance agenda, but the permitting of Vineyard Wind was delayed repeatedly in part due to concerns its turbines would interfere with commercial fishing.\nVineyard Wind is a joint venture between Avangrid Inc, a unit of Spain’s Iberdrola, and Denmark’s Copenhagen Infrastructure Partners. The project is 15 miles (24 km) off the coast of Massachusetts. Once constructed, it is expected to provide power to more than 400,000 Massachusetts homes.\n“We’re very pleased,” Vineyard Wind said in a statement. “We look forward to working with the agency as we launch an industry that will create thousands of good paying jobs while also taking meaningful steps to reduce the impact of climate change.”\nThe Responsible Offshore Development Alliance, a fishing industry group, said it hoped the resumption of the permitting process would provide new opportunities for the public to weigh in on the project.","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}