Connect with us

Business Insider

‘We’re in a very unusual situation’: A 48-year market vet breaks down why stocks are hurtling towards an 80% drop this year – and says gold will soar to $2,500 as soon as Q2

Avatar

Published

on

New York Stock Exchange 1987
Outside the New York Stock Exchange on October 20, 1987.

  • Stocks have fallen in recent days amid rising 10-year Treasury yields.
  • 48-year market vet David Hunter says this is temporary, and stocks will melt up into Q2.
  • But then overheating will lead to Fed tightening, Hunter said, triggering an 80% drop in stocks.
  • Visit the Business section of Insider for more stories.

Stocks seem to be at a fork in the road. 

After hitting fresh highs in mid-February, they’ve balked at rising interest rates as another stimulus package stokes further inflation fears, and increasing vaccination rates give hope of a full economic reopening in the near future. 

With valuations still overextended by many measures, are stocks due to slide further? Or will investors learn to tolerate the rising rate environment? Or, are rates due to take a break, lifting stocks higher?

Ask 48-year market veteran David Hunter, and he’ll tell you it’s the third scenario that will play out in the months ahead. Hunter, who is the chief macro strategist at Contrarian Macro Advisors, told Insider on Wednesday that last week’s pullback in stocks was a temporary break in a broader melt up that will continue in the months ahead.

Hunter said that 10-year Treasury notes are oversold right now (yields rise when bond prices fall). And in the few months ahead, he expects their yields to reverse course and fall to 1.15-1.2% from current levels above 1.5%. In the same timeframe, he predicts stocks will see huge gains: the S&P 500 will rise to 4,600, the Dow Jones Industrial Average to 37,000, and the Nasdaq to 17,000.

But that’s when things will take a turn for the worse. Hunter said he thinks that sometime in the second quarter, inflation will surge as the economy opens back up. That would cause the Fed to begin to tighten its policy, sending 10-year yields to 2.5% and 30-year yields to 3%. 

But the sudden series of events in a broader economic backdrop that remains fragile will send stocks tumbling to the tune of an 80% drop in the months afterward, he said, adding that the Fed’s actions would ultimately risk pushing the global economy into a deflationary bust.

“You’re going to see as we open up the economy more signs that things are overheating actually. It’s ironic because we were in recession a year ago,” Hunter said, attributing his prediction to fiscal and monetary stimulus efforts.

“Right now if you listen to Jay Powell, they say ‘Oh we don’t think we have to tighten anytime this year,'” he continued. “I think that’s going to be fast-forwarded by the time you get to the middle of the year because they’re going to be looking and saying, ‘Wow, inflation’s moving up a lot faster than we expected. Wow, the economy is actually showing signs of overheating. And wow, the market’s at 4,600 and we’ve got junk bonds, people piling in.'”

Hunter added that “we’re in a very unusual situation” because of the potential for economic overheating ahead as a result of stimulus while the economy is at the same time fragile with relatively high unemployment. He said this fragility will make the economy and markets more sensitive to Fed tightening. 

But Hunter said the same thing that will trigger the drawdown – the Fed’s monetary policy moves – will also contribute to presenting investors with an enormous opportunity on the other side of it.

He said the potential drop in stocks and the economic bust will lead to monetary and fiscal stimulus efforts that are even greater than those of the last year. This will send share prices soaring, he said, and begin an industrial-driven economic recovery.

“The easiest part of my forecast is predicting how the politicians and the central bankers are going to react,” he said.

Hunter is also bullish on gold and silver amid the inflationary environment he expects. He said he thinks gold will rise to $2,500 per ounce and silver to $45-50  per ounce “maybe as soon as the second quarter.” By 2030, he said he believes gold will reach $10,000 and silver to $300.

Hunter’s views in context

While many may not share Hunter’s prediction for an 80% drop in stocks, his views on inflation and speculation about the Fed tightening earlier than expected are now mainstream.

For example, Morgan Stanley economists explored in a March 3 note how the Fed might respond to rising yields going forward and found that while Federal Open Markets Committee members haven’t signaled they’re ready to tighten policy yet, they could do so if conditions overheat. 

Fed intervention will likely come via communication and, if necessary, downsizing their balance sheet, the economists said. Still, they argued, intervention is unlikely, and the federal funds rate will stay at current levels through 2023.

But there is still the possibility a tightening scenario occurs if things get out of hand in the months ahead. And if they do, stocks could have a long way to fall.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://markets.businessinsider.com/news/stocks/stock-market-crash-expert-predicts-drop-2500-gold-david-hunter-2021-3-1030156682

Business Insider

Genesis Celebrates Official Launch In China, Unveiling Its All-new Vision Of Automotive Luxury To Chinese Consumers

Avatar

Published

on

  • Genesis announced its arrival in China with an extraordinary event, introducing the brand to a new generation of Chinese consumers seeking true distinction in luxury
  • Athletic Elegance, the distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80 and Genesis GV80
  • To deliver the unique Genesis Experience, a new business model will be introduced in China aiming to design authentic relationships with Chinese consumers

SHANGHAI, April 3, 2021 /PRNewswire/ — Global luxury automotive brand Genesis marked its official entry into China with a spectacular Brand Night held on April 2 at Shanghai’s International Cruise Terminal, where Genesis showcased its unique Genesis brand identity, design and experience philosophy. With a stunning drone show titled the “Genesis of Genesis” sweeping over the Bund, Genesis signified its exceptional beginning in the Chinese market.

Genesis performing dazzling drone show, titled with “Genesis of You”

Jaehoon (Jay) Chang, Global Head of Genesis, said, “Today marks the beginning of another audacious chapter for Genesis. The Chinese market serves a critical role in the development of our global business, and we are very excited to present the next generation luxury for China.”

“We are excited to showcase our globally recognized products, Genesis G80 and Genesis GV80, known for the highest quality and distinctive design. We are driven by a purpose to design authentic relationships with Chinese consumers. This is our promise and our differentiator in China to deliver meaningful and stress-free experiences,” said Markus Henne, Chief Executive Officer of Genesis Motor China. “To do that, we will be implementing an all-new business model that will bring our commitments to life.”

New Luxury Defined by A Unique Brand Identity and Design Philosophy

Genesis is a brand that aspires to make true positive impact in our customers’ lives. With a fresh perspective, Genesis audaciously challenges expectations and brings a progressive attitude in order to build emotional bonds with customers based on new ideas in design and innovation. Genesis also desires to provide customers with a sense of thoughtful hospitality throughout the entire journey. More than an automotive brand, Genesis represents a lifestyle and an experience.

Every Genesis presents an intimate opportunity to explore the extraordinary Genesis vision. The distinctive design of Genesis was showcased through a special Brand Night unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Defined by their symbolic Two Lines architecture, both models are the expression of Athletic Elegance, Genesis’ design philosophy that achieves the perfect balance between two opposing characteristics: Athleticism and Elegance. Inside the cabin, the Beauty of White Space philosophy is expressed through a harmony of personal space and state-of-the-art technology.

China-tailored Strategy to Provide An All-New Experience

Genesis intends to inspire its customers of what new luxury can be. It addresses what the brand calls Generation Genesis, a generation with bold new perspectives in style and everyday life, whose refined taste in aesthetics and appreciation for distinctive design cultivates resonance with the brand spirit of Genesis. To underline this, Genesis unveiled its brand manifesto at the heart of which sits the  “Genesis of You” message-Every touchpoint with Genesis is designed to fuel the confidence of these consumers, as they embark on new beginnings, break boundaries and progress in their every endeavor. 

Genesis is establishing an all-new business model for the Chinese market, aiming to design authentic relationships with Generation Genesis and deliver meaningful, stress-free experiences centered on human-touch, convenience, trust and transparency. Genesis will gradually develop its presence in China through an omnichannel approach based on direct sales, supported by trusted agents and online sales. 

Furthermore, Genesis will ensure that every person interested in the brand receives the best one-to-one experience from a dedicated companion with the introduction of the Genesis Partner Concept. 

A transparent pricing model under the Genesis One Price Promise will be implemented to ensure a unified price across all sales channels. This unique and uncompromising brand experience will be enabled by the Genesis Digital Ecosystem.

Focus on Brand Building and Designing Genesis Experience

An essential part of the Genesis is lifestyle. Aesthetic ambition with the love for beautiful things are at the core of the brand. That’s the reason Genesis is never compromising anything on design and open to collaborate on a variety of canvases, where the Generation Genesis can be naturally met.

One of these forthcoming brand experiences, for instance, will be held in collaboration with the Shanghai Fashion Week, to create an elevated and in-depth exploration of progressive luxury style through world-class fashion concepts. Comprehensive and touchable Genesis Experience will come to life at Genesis Studios, a luxury lifestyle oasis where people can experience our cars, the arts and culture combined with Genesis hospitality. The first of Genesis Studio will soon launch in downtown Shanghai.

Markus Henne, Chief Executive Officer of Genesis Motor China, added, “Launching the brand in China represents a significant, perhaps the most important, new chapter in our brand’s history. Genesis will focus on brand building in the early stage. We will continue to reveal more highlights of how we plan to appeal to our Chinese audience. I am confident to deliver this promise and invite everyone to be a part of this journey.”

About Genesis

Genesis is a global luxury automotive brand that delivers the highest standards of performance, design, safety, and innovation. The Genesis brand is one of the highest-ranked brands in the automotive industry by respected, third-party experts including North American Car of the Year, Consumer Reports and J.D. Power and more. For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com.cn

Speech of Markus Henne, CEO of Genesis Motor China, at Genesis Brand Night

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/genesis-celebrates-official-launch-in-china-unveiling-its-all-new-vision-of-automotive-luxury-to-chinese-consumers-301261651.html

SOURCE Genesis

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://markets.businessinsider.com/news/stocks/genesis-celebrates-official-launch-in-china-unveiling-its-all-new-vision-of-automotive-luxury-to-chinese-consumers-1030272405

Continue Reading

Business Insider

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Qell Acquisition Corp. – QELL

Avatar

Published

on

NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Qell Acquisition Corp. (“QELL” or the “Company”) (QELL) relating to its proposed merger with by Lilium GmbH. Under the terms of the agreement, QELL will acquire Lilium through a reverse merger, with Lilium emerging as a publicly traded company.

The investigation focuses on whether Qell Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/qell-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Qell Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-monteverde–associates-pc-announces-an-investigation-of-qell-acquisition-corp–qell-301261638.html

SOURCE Monteverde & Associates PC

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://markets.businessinsider.com/news/stocks/shareholder-alert-monteverde-associates-pc-announces-an-investigation-of-qell-acquisition-corp-qell-1030272397

Continue Reading

Business Insider

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of BowX Acquisition Corp. – BOWX

Avatar

Published

on

NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating BowX Acquisition Corp. (“BOWX” or the “Company”) (BOWX) relating to its proposed merger with WeWork. Under the terms of the agreement, BOWX will acquire WeWork through a reverse merger, with WeWork emerging as a publicly traded company.

The investigation focuses on whether BowX Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/bowx-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in BowX Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-monteverde–associates-pc-announces-an-investigation-of-bowx-acquisition-corp–bowx-301261647.html

SOURCE Monteverde & Associates PC

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://markets.businessinsider.com/news/stocks/shareholder-alert-monteverde-associates-pc-announces-an-investigation-of-bowx-acquisition-corp-bowx-1030272396

Continue Reading

Business Insider

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Millendo Therapeutics, Inc. – MLND

Avatar

Published

on

NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Millendo Therapeutics, Inc. (“MLND” or the “Company”) (MLND) relating to its proposed merger with Tempest Therapeutics, Inc. Under the terms of the agreement, MLND shareholders are expected to own 18.5% of the combined company.

The investigation focuses on whether Millendo Therapeutics, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/millendo-therapeutics-inc. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Millendo Therapeutics, Inc. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-monteverde–associates-pc-announces-an-investigation-of-millendo-therapeutics-inc–mlnd-301261648.html

SOURCE Monteverde & Associates PC

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://markets.businessinsider.com/news/stocks/shareholder-alert-monteverde-associates-pc-announces-an-investigation-of-millendo-therapeutics-inc-mlnd-1030272391

Continue Reading
Esports3 days ago

Free Fire World Series APK Download for Android

Esports5 days ago

DreamHack Online Open Ft. Fortnite April Edition – How To Register, Format, Dates, Prize Pool & More

Esports5 days ago

Hikaru Nakamura drops chessbae, apologizes for YouTube strike

Esports3 days ago

Dota 2: Top Mid Heroes of Patch 7.29

Esports16 hours ago

Overwatch League 2021 Day 1 Recap

Esports4 days ago

Ludwig Closes Out Month-Long Streaming Marathon in First Place – Weekly Twitch Top 10s, April 5-11

Esports5 days ago

LoL: MAD Lions Are The New Kings Of Europe, Is The Reign Of G2 Esports And Fnatic Finally Over?

Esports4 days ago

Position 5 Faceless Void is making waves in North American Dota 2 pubs after patch 7.29

Esports5 days ago

Apex Legends update 1.65 brings five new LTMs for War Games

Esports13 hours ago

Fortnite: Epic Vaults Rocket Launchers, Cuddlefish & Explosive Bows From Competitive

Esports4 days ago

Fortnite: Patch Notes v16.20 – Off-Road Vehicle Mods, 50-Player Creative Lobbies, Bug Fixes & More

Blockchain5 days ago

Which crypto exchange platform is faster, coin transfer or Godex?

Esports5 days ago

Complete guide to romance and marriage in Stardew Valley

Esports4 days ago

Wild Rift patch 2.2a brings tons of champion changes and the addition of Rammus later this month

Blockchain4 days ago

Bitcoin Preis steigt auf über 60.000 USD, neues ATH wahrscheinlich

Esports5 days ago

flusha announces new CSGO roster featuring suNny and sergej

Esports5 days ago

TenZ on loan to Sentinels through Valorant Challengers Finals

Esports4 days ago

Fortnite Leak Teases Aloy Skin From Horizon Zero Dawn

Esports3 days ago

Capcom Reveals Ransomware Hack Came from Old VPN

Esports16 hours ago

C9 White Keiti Blackmail Scandal Explains Sudden Dismissal

Trending