Morning Update! S&P 500 Futures UP, Mortgage Rates UP To 5.57%, Apartment Rents UP 20% YoY, WTI Crude Down -1.76% (NIH’s Fauci Received 23 “Royalty” Payments On Top Of Highest Salary In Federal Government)

Confounded Interest ^ | 05/10/2022 | Anthony B. Sanders

[Browns Ultra Fan]

At least S&P 500 futures are up this morning, an opportunity to buy the dip.

But on the housing front, we see that mortgage rates have pieced the 5.50% barrier and is now at 5.57%.

On the rent side, apartment rents are growing at 19.3% YoY for both Class A and Class B units.

Commodities are down this AM. WTI Crude is down -1.71%, iron ore is down -4.06% and nickel is down -6.29%.

We now know that Anthony Fauci and other NIH scientists were receiving $350 million in “royalties” from 3rd parties. Think Pfizer and Moderna.

Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID) and the highest-paid federal bureaucrat, received 23 royalty payments. (Fauci’s 2021 taxpayer-funded salary: $456,028). Francis Collins, NIH director from 2009-2021, received 14 payments. (Collins’ 2021 taxpayer-funded salary: $203,500) Clifford Lane, Fauci’s deputy at NIAID, received 8 payments. (Lane’s 2021 taxpayer-funded salary: $325,287) Wasting again in BidenPowellville.

The path forward is apparently to make Anthony Fauci “the kickback king” of DC.

[Browns Ultra Fan]

The Fauci kickback issue is serious. Will Biden FINALLY fire him??

[Theoria]

cpi will be lower tomorrow. Look for the market to rally, at least briefly.

[Huskrrrr]

Yep, should be a bump at the starting bell. Hopefully it holds.