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Futures Tumble After Deadly Escalation In Ukraine Crisis

Futures Tumble After Deadly Escalation In Ukraine Crisis

Any hope of de-escalation following the news late last night that Putin and Biden…

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Futures Tumble After Deadly Escalation In Ukraine Crisis

Any hope of de-escalation following the news late last night that Putin and Biden had agreed to a Macron-organized summit to pursue a diplomatic path out of the Ukraine crisis lasted only a few hours, and died a painful death around 3am Eastern time, after Kremlin spokesman Dmitry Peskov poured cold water on the summit progress when he said that  "It's premature to talk about any specific plans for organizing any kind of summits" and that there are no "concrete plans" for a summit yet. Subsequent news that a mortar shell had destroyed a Russian border checkpoint near Rostov - something which Ukraine's military denied doing - did not lift the already downbeat mood, but it was the news just after 7:40am ET that Russia had killed five "saboteurs" who tried to violate its border (and which Ukraine once again slammed as fake news) in an unconfirmed incident that would be the first direct clash with Ukrainian forces, that sent US equity futures tumbling 0.92% to session lows of 4,299.5, down some 90 points from overnight highs, and hit global risk assets while safe havens such as gold and the dollar spiked. The 1.5% decline in Nasdaq 100 futures outpaced that of S&P 500.

While US markets are closed for the President's Day holiday, equity futures are trading and have been following the news out of Ukraine tick for tick, as have European bourses, with the Euro Stoxx 600 index falling as much as 1.9%, to the lowest since Oct. 6 as investors digest latest developments around Ukraine tensions. 

And while US cash treasuries are also closed, Treasury futures are open and at last check were implying a yield of 1.90%

Russian stocks fell the most since March 2020 and the ruble tumbled for a third day. Gazprom PJSC and Sberbank PJSC were among the biggest drags on the MOEX Russia Index, falling more than 8% each. U.S. Treasury futures rose, suggesting renewed haven demand.

“Global data and central banks’ stance on tightening are all taking a back seat to Ukraine, with markets nervously awaiting the next headline,” said Su-Lin Ong, head of Australian economic and fixed-income strategy at Royal Bank of Canada. “Thinner liquidity because of the U.S. holiday adds to the anxiety.”

Bets on a supersized Federal Reserve rate hike of 50 basis points in March have diminished amid the standoff over Ukraine.

Earlier in the session, Asian stocks fell as another rout in Chinese tech names and continued uncertainty around the Ukraine issue deterred risk-taking. The MSCI Asia Pacific Index was down 0.4% as of 6:08 p.m. in Hong Kong, heading for a second day of losses. Tencent Holdings and Alibaba Group were the biggest drags on the benchmark as investors fretted that Beijing may roll out more restrictions for private enterprise. The Hang Seng Tech Index plunged 2.8%. The standoff in Ukraine continues to be a source of volatility for traders. The Asian benchmark earlier pared a loss of as much as 0.8% after France said U.S. President Joe Biden and his Russian counterpart Vladimir Putin accepted in principle a French proposal for a diplomatic summit on the condition that Russia doesn’t invade Ukraine. While the White House confirmed that Biden accepted the meeting in principle, the Kremlin later said there are “no concrete plans” for such a summit. Still, key gauges in Japan and South Korea pared a bulk of their intraday losses before the close.

“There is scope for a relief rally should there be any easing in these tensions given very cautious positioning,” Nomura analysts including Chetan Seth wrote in a note. “Any further escalation from here will likely lead to significant risk-off for Asian equities.”  Tensions over Ukraine have overtaken the market’s preoccupation with the Federal Reserve’s path to monetary-policy tightening in recent days, with the U.S. telling allies that a Russian invasion could target multiple cities beyond Ukraine’s capital. Moscow continues to deny it plans to invade Ukraine. Meanwhile, Asian stocks are also having to contend with earnings estimates that aren’t rising as fast as in the rest of the world

Japanese stocks pared losses amid optimism over a potential summit on Ukraine between U.S. President Joe Biden and his Russian counterpart Vladimir Putin. France said Biden and Putin accepted in principle a French proposal for a diplomatic summit. U.S. officials said a summit would occur only if Russia doesn’t invade Ukraine. There was no immediate confirmation from Moscow, which has repeatedly denied that it plans to invade. Electronics and chemical makers were the biggest drags on the Topix, which closed 0.7% lower, trimming an earlier slide of as much as 1.8%. Tokyo Electron and Shin-Ertsu Chemical were the largest contributors to a 0.8% loss in the Nikkei 225, which had fallen 2.1% in early trading. “It’s totally possible for the summit to end without making any progress, so the mood will likely be for investors to wait until they see the meeting results,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management in Tokyo. Energy is another areas of concern, as , “the high oil prices are leading to an increase in domestic inflation, little by little,” he said.

With markets whipsawed by Russia’s troop buildup near Ukraine and efforts at diplomacy to bring both sides back from the brink of war, late on Sunday France said its proposal for a summit was accepted in principle by Biden and Putin. U.S. officials said the  meeting would only occur if Russia doesn’t invade Ukraine, while Russia has said repeatedly it has no plans to do so. Earlier, the U.S. told allies that a Russian invasion of Ukraine could target multiple cities beyond the capital, Kyiv. Echoing a familiar refrain, Biden said Friday he’s convinced Putin has decided to move against Ukraine. U.S. Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov are due to meet this week.  

Similar to Japan, Australian stocks - which closed before the barrage of escalatory headlines hitting this morning - reversed losses with the S&P/ASX 200 index rising 0.2% to close at 7,233.60, erasing an earlier drop of as much as 0.9% amid optimism over a potential summit on Ukraine between U.S. President Joe Biden and his Russian counterpart Vladimir Putin. France said Biden and Putin accepted in principle a French proposal for a diplomatic summit. U.S. officials said a summit would occur only if Russia doesn’t invade Ukraine. There was no immediate confirmation from Moscow, which has repeatedly denied that it plans to invade. Banks and consumer staples contributed the most to the Australian benchmark’s advance. A2 Milk was the top performer after saying its outlook for 2H revenue has improved. Tyro Payments was the worst performer after its net loss widened in the first half of the year. In New Zealand, the S&P/NZX 50 index rose 0.1% to 12,156.34.

In currencies, the dollar pared losses against other Group-of-10 currencies after the Kremlin said there are “no concrete plans” for a summit between between U.S. President Joe Biden and his counterpart Vladimir Putin. Risk-sensitive currencies such as the Australia dollar halted their march higher and European stocks flipped to losses after the comments. Bloomberg Dollar Spot Index retraced some losses, to trade 0.2% lower. Cash Treasuries are closed for a holiday. EUR/USD gained as much as 0.6% to 1.1390, before paring to 1.1362; EUR/JPY rises 0.2% to 130.49 after gaining 0.5% earlier. Prices charged for goods and services in the euro area jumped by a record amount in February. Both manufacturers and services providers saw output improve, according to purchasing managers indexes compiled by IHS Markit. AUD/USD gained as much as 0.6% to 0.7223 helped in part by leveraged shortcovering against the yen. USD/SEK fell 0.5% to 9.3532; Riksbank governor Stefan Ingves said that policymakers can “wait before adjusting monetary policy” in minutes from the Feb. 9 rate decision, released Monday.

In commodities, WTI and Brent were choppy in which the latter eventually fell beneath the USD 90/bbl as some of the geopolitical risk premium was unwound by reports of a potential Biden-Putin summit. Saudi Arabia’s crude stocks rose 2.284mln bbls to 134.7mln bbls in December and its exports fell by 12k bpd M/M to 6.937mln bpd in December, according to JODI data. Saudi Energy Minister said OPEC+ believes it has delivered for members and the entire industry, while he added that they have been transparent but are not getting reciprocity. There were also comments from the Iraq Oil Minister that OPEC+ need to stick to the current agreement to avoid surprises and the Kuwait Oil Minister said that OPEC+ is very sensitive on how markets react. Furthermore, the UAE Energy Minister said tensions are the cause of high prices not supply and demand, while he hopes for de-escalation for oil prices to decline. European Commission President von der Leyen told CNBC that energy sanctions against Russia are still an option if Russia invades Ukraine. She said “everything is on the table” when asked about the possibility of imposing sanctions on Russian gas giant Gazprom. She said Europe imports around 40% of its gas supply from Gazprom. Spot gold failed to sustain an incursion above the USD 1900/oz level. Copper futures were rangebound amid the ongoing geopolitical uncertainty.

There is nothing on today's US calendar due to the President's Day holiday while Canada observes Family Day. We get the latest Eurozone & UK Flash PMIs,  linken/Lavrov Meeting (Date & Time TBC), EU-UK Brexit Meeting.

Top Overnight news from Bloomberg

  • The U.S. has told allies that any Russian invasion of Ukraine would potentially see it target multiple cities beyond the capital Kyiv, according to three people familiar with the matter
  • Oil gave up early gains in Asia, along with gold, after the U.S. and Russian presidents agreed to a summit meeting over Ukraine
  • Saudi Arabia’s energy minister said that OPEC+ must stay together for the long-term stability of the oil market
  • Prime Minister Boris Johnson is set to announce an end to England’s Covid-19 regulations on Monday, a day after the U.K.’s 95-year- old monarch Queen Elizabeth II tested positive for the virus

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks traded mostly negative but off their lows as risk appetite hanged on the situation surrounding Ukraine and with US and Russia said to agree in principle to a French proposal for a Biden-Putin summit. ASX 200 rebounded into the green with the index also cushioned by the reopening of Australia’s borders. Nikkei 225 retreated beneath 27k amid early haven flows into the JPY and deterioration of Japanese PMI data. KOSPI suffered after daily COVID-19 cases topped 100k for a third consecutive day Hang Seng and Shanghai Comp. were lacklustre with weakness in property names amid a further slowdown in property prices and after Zhenro Properties warned it may not be able to meet debt payments. US equity futures initially declined on US warnings of an imminent Russian invasion of Ukraine but then recovered due to hopes of Biden-Putin summit. European equity futures are indicative of a firmer open with the Euro Stoxx 50 future +0.4% after cash markets closed lower by 1.0% on Friday

 

In FX, the DXY was initially kept afloat by early haven flows after US warnings of an imminent Russian invasion on Ukraine, but retreated beneath 96.00 after France's proposal for a Biden-Putin summit was agreed in principle. EUR/USD nursed most of Friday’s losses and climbed above the 1.1350 level amid the recent Dollar swings. GBP/USD reclaimed the 1.3600 status amid USD softness USD/JPY was choppy around 115.00 although JPY-crosses rebounded as risk sentiment somewhat improved Antipodeans found reprieve from hopes of a de-escalation of Ukraine tensions to lift AUD/USD and NZD/USD above the 0.7200 and 0.6700 handles, respectively. RUB gained against the Dollar amid reports of a potential Biden-Putin summit.

In commodities, WTI and Brent were choppy in which the latter eventually fell beneath the USD 90/bbl as some of the geopolitical risk premium was unwound by reports of a potential Biden-Putin summit. Saudi Arabia’s crude stocks rose 2.284mln bbls to 134.7mln bbls in December and its exports fell by 12k bpd M/M to 6.937mln bpd in December, according to JODI data. Saudi Energy Minister said OPEC+ believes it has delivered for members and the entire industry, while he added that they have been transparent but are not getting reciprocity. There were also comments from the Iraq Oil Minister that OPEC+ need to stick to the current agreement to avoid surprises and the Kuwait Oil Minister said that OPEC+ is very sensitive on how markets react. Furthermore, the UAE Energy Minister said tensions are the cause of high prices not supply and demand, while he hopes for de-escalation for oil prices to decline. European Commission President von der Leyen told CNBC that energy sanctions against Russia are still an option if Russia invades Ukraine. She said “everything is on the table” when asked about the possibility of imposing sanctions on Russian gas giant Gazprom. She said Europe imports around 40% of its gas supply from Gazprom. Spot gold failed to sustain an incursion above the USD 1900/oz level. Copper futures were rangebound amid the ongoing geopolitical uncertainty.

Fixed income:

  • 10yr UST futures gained at the open on the concerns of an imminent Russian invasion of Ukraine but then returned flat after news that the US and Russian presidents agreed in principle on a French proposal to conduct a Biden-Putin summit, with the closure North American cash markets on Monday also limiting price action for Tnote futures. Bunds pared the majority of opening gains and breached support near 166.50, while 10yr JGBs were kept afloat by the mostly risk averse tone and with the BoJ present in the market for over JPY 1.3tln in 1yr10yr maturities

Ccentral banks:

  • Powell will give his regular semiannual monetary policy update to Congress on March 2 before the US House Financial Services Committee and on March 3 before the Senate Banking Committee, according to Reuters.
  • Fed's Brainard (voter) said it is appropriate to begin a series of rate hikes in March and believes they will turn next to the balance sheet runoff, which she sees starting in the next few FOMC meetings, according to Reuters.
  • JPMorgan Chase & Co. economists said the Fed is likely to hike interest rates by 25bps in nine consecutive meetings in an effort to tamp down inflation, according to Bloomberg.

We conclude the morning wrap with the latest comments from DB's Jim Reid

For the second Friday in a row, the US repeated their warnings that Russia has made up their mind to invade Ukraine and that it would likely occur within days. This after trading hours press conference from Biden cited "significant" US intelligence to back up his points without detailing any of it.

Indeed the weekend news looked quite bleak until Macron's phone call yesterday afternoon with Putin. Afterwards the French side debriefed the world by saying both parties agreed that a diplomatic solution was needed and that the foreign ministers of both nations would have further talks this week. Putin also told Macron that his troops would eventually leave Belarus even though Russia has earlier said that the military drills that were due to end yesterday would continue indefinitely and that there would be no withdrawals of troops as planned.

Overnight news has come out that Macron has brokered a summit between Biden and Putin for later this week. The agreement was reached following two separate phone calls that Macron had with the US and Russian leaders. US White House officials have confirmed this and said that Biden had accepted the meeting “in principle” but it would occur only under the condition that Russia does not invade Ukraine.

Overnight in Asia, equity markets pared early losses on the news with S&P 500 futures swinging from -0.5% to +0.5%. The Nikkei (-0.75%) has retraced some of its losses, after sliding -2% near the open with the Hang Seng (-0.67%), Kospi (-0.45%), Shanghai Composite (-0.40%) and CSI (-0.62%) also improving after a weaker start.

Even though the newsflow has improved, weekend sentiment was poor with UK PM Johnson suggesting that Russia was planning "the biggest war in Europe since 1945". In addition, Johnson gave more specific info from his conversation with Biden on Friday highlighting that “You’re looking at not just an invasion through the east, through the Donbas, but according to the intelligence that we’re seeing, coming down from the north, down from Belarus, and actually encircling Kyiv itself, as Joe Biden explained to a lot of us,”. So the proposed summit will improve sentiment today but a lot of things are bubbling under the surface.

Elsewhere in Asia overnight, shares of Chinese developer, Zhenro Properties Group Ltd dropped as much as -17% in Hong Kong after the company in an exchange filing on late Friday (February 18) mentioned that it may not have enough cash to meets its debt payments next month, thus raising concerns that China’s property-sector cash crunch is far from over.

In terms of markets its again worth highlighting the table from our equity strategists that I borrowed for my chart of the day last week. It shows the declines in the S&P 500 around geopolitical events, where typically the selloffs have been short-lived (and around -6 to -8% on average), with a duration of around 3 weeks to reach a bottom and another 3 weeks to recovery from their prior levels. Another pattern is that ultimately, the underlying economic context tends to dominate, so if you believe the template, much might depend on what you thought momentum was before the sell-off. Here’s a link to my chart of the day.

Away from geopolitics, one of the most remarkable events this week could be the likely announcement today, here in the UK, that those catching covid will no longer have to legally self-isolate from later this week and that we will move to a learn to live with the virus regime. I say remarkable as it's only around 2 months ago that Omicrom dropped onto an unsuspecting world, causing widespread panic and phenomenal levels of infections. However severe illness and fatalities have been relatively low and at some point the plunge towards normality has to be made. Other countries will watch with interest even if this move has been brought forward due to domestic political considerations.

In terms of data, we start today with a US holiday (Presidents' Day) but we will have the global flash PMIs which will be interesting as activity tentatively bounces back after the Omicron wave recedes. The US equivalent comes out tomorrow. Earlier this morning, Japan’s flash manufacturing PMI grew at the slowest pace in five months in February, dropping to +52.9 from +55.4 last month. At the same time, services contracted at the quickest pace since May 2020 after the index fell to 42.7 from 47.6.

Back to this week and there's plenty of Fed speak but it seems we're in a holding patterns where the Fed don't yet know whether they are going to hike 25 or 50bps next month. That decision will probably wait for more data and outside of Bullard there hasn't been a huge appetite for 50bps from the committee. However plenty of time for that to change. Interestingly the favoured Fed inflation measure, the PCE deflator, comes out on Friday so that might be important. DB expects the core PCE to be 5.5% YoY. Durable goods is also out on the same day and we'll have consumer confidence tomorrow and final UoM sentiment on Friday. Both have been very weak of late due mostly to inflation. Thursday sees preliminary Q4 US GDP which will set the tone for how we think about Q1 growth.

In Europe we have German Ifo tomorrow, final January Europe Area CPI on Wednesday and preliminary French CPI and PPI for February on Friday. The rest of the day-by-day week ahead is at the end as usual on a Monday.

Geopolitics was the order of last week, with an associated global risk off. In equities, the STOXX 600 fell -1.87% (-0.81% Friday), the DAX -2.48% (-1.47% Friday), the CAC -1.17% (-0.25% Friday), and the S&P 500 was down -1.58% (-0.71%). In fact, the S&P 500 was approaching correction territory by the end of the week, down -9.33% from all-time high set in early January. Volatility remained near year-to-date highs at 27.68ppts.

Digging deeper, banks underperformed in both regions after a good run as yields and rate hike expectations were pared back, with the STOXX banks index down -5.07% (-0.37%) and S&P banks down -2.79% (-0.25%). Tech stocks also slightly underperformed in the US, as the NASDAQ retreated -1.76% (-1.23% Friday).

Along with the turn in risk sentiment, a lack of further hawkish surprises from global central bank speakers helped push sovereign bond yields lower. In Europe, the declines were large across the curve, with 2yr gilt and bund yields falling -14.9bps (-7.0bps Friday) and -15.4bps (-4.9bps Friday) while 10yr gilts and bunds fell -16.7bps (-8.5bps Friday) and -10.5bps (-3.9bps Friday), respectively. The front-end declines were impressive given the UK CPI print, which printed at the highest level since 1992 (+5.5%), and above consensus expectations. However, traders appeared to be positioned for a blockbuster beat like the recent US print, and a commensurate tightening in near-term policy. 2yr gilts fell -13.0bps the day of the print. The number of hikes for 2022 fell from 6.14 to 5.90 over the course of the week but it did hit 6.80 on Monday, only just below the 6.87 peak before the Ukraine situation took a turn for the worse. So almost one 25bps hike taken out from the Monday highs to the close on Friday.

Staying in the same theme, the minutes of the FOMC’s January meeting were in line with previous expectations for policy. However, details about the size of prospective rate hikes or the pace of balance sheet unwind were not forthcoming. Traders expecting a further hawkish surprise were left wanting, and the probability of a +50bp rate hike in March fell to +27%, its lowest level since the January employment and CPI data.

Later in the week, President Williams and Governor Brainard, two influential voices within the FOMC, more or less confirmed liftoff was coming in March. Governor Brainard also offered expectations that the QT would begin in the next few meetings, while guidance to date had only been for sometime “later this year.” All told Treasury yield moves were smaller than European sovereigns, with 2yr and 10yr yields falling -3.4bps (-0.1bps Friday) and -0.9bps (-3.3bps Friday), respectively. To be fair they had already rallied hard late last Friday evening when the Ukraine situation worsened so there wasn't the same catch up that European bonds witnessed.

In commodities, haven assets like gold outperformed, gaining +2.16% on the week (flat Friday), just below its highest level in a year. Energy prices fell, with European natural gas prices falling -7.52% (-1.54% Friday) despite the escalation in tensions. Brent crude oil, having fluctuated with headlines all week, wound up little changed, on net, decreasing -0.88% (+0.94% Friday).

Elsewhere, the U.S. Senate passed a stopgap funding bill that will keep the US government open and funded through March 11. Existing home sales in the US sold at a faster pace in January than expected, with 6.5m sales versus expectations of 6.1m.

 

Tyler Durden Mon, 02/21/2022 - 08:52

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Government

GSK and IQVIA launch platform of US vaccination data, showing drop in adult rates

Throughout the Covid-19 pandemic, the issue of vaccine uptake has been a point of contention, but a new platform from GSK and IQVIA is hoping to shed more…

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Throughout the Covid-19 pandemic, the issue of vaccine uptake has been a point of contention, but a new platform from GSK and IQVIA is hoping to shed more light on vaccine data, via new transparency and general awareness.

The two companies have launched Vaccine Track, a platform intended to be used by public health officials, medical professionals and others to strengthen data transparency and display vaccination trends. According to the companies, the platform is intended to aid in increasing vaccine rates and will provide data on trends to assist public health efforts.

Judy Stewart

The platform will also allow users to identify vaccination trends for adults in the US across multiple vaccine types. Users will also be able to scan claims data nationally to track trends alongside pre-Covid metrics.

“For the first time, Vaccine Track brings quarterly data tracking and trends together in a comprehensive platform for immunization partners, decision-makers and stakeholders. Our goal for Vaccine Track is to support the return to pre-pandemic vaccination rates for adults and to go beyond by empowering the vaccine and public health community with frequently updated, actionable information to get ahead of disease together,” said Judy Stewart, GSK’s head of vaccines in a statement.

This move comes as vaccination rates in adults were already low even before the pandemic, with a CDC report stressing that vaccine coverage in adults was low across all age groups.

So far the platform’s data show a decline in adult immunizations, excluding flu vaccinations, across the country during the pandemic. The platform currently only has information from January 2019 to December 2021 on hand but will be updated every quarter.

The data itself observed that rates were especially low in minority populations, which were already showing lower rates of immunization pre-pandemic.

The platform also showed that national trends for adults aged 19 and older are still low, with an average decrease of 18% through last year in overall claims. Average monthly claims through 2021 for recommended vaccines were between 12% and 42% below 2019 rates, with nearly half of the states in the US facing greater than 30% reductions in overall claims for recommended vaccines from pre-pandemic levels.

In Medicare patients, the platform’s analysis found a more than 30% reduction in overall claims for recommended vaccines among Black and Hispanic populations between 2019 and 2021.

The information itself is sourced from medical claims data and longitudinal prescription data, the companies said.

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Prevalence of gender-diverse youth in rural Appalachia exceeds previous estimates, WVU study shows

Gender-diverse youth are at an increased risk of suicide and depression, according to the Centers for Disease Control and Prevention. But the prevalence…

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Gender-diverse youth are at an increased risk of suicide and depression, according to the Centers for Disease Control and Prevention. But the prevalence of gender diversity is largely unknown—especially in rural areas, where studies of the topic are rare. 

Credit: WVU Photo/Sean Hines

Gender-diverse youth are at an increased risk of suicide and depression, according to the Centers for Disease Control and Prevention. But the prevalence of gender diversity is largely unknown—especially in rural areas, where studies of the topic are rare. 

To fill that knowledge gap, researchers at West Virginia University— along with their colleagues at the University of Washington and Boise State University — surveyed junior high and high school students in rural Appalachia about their gender identity. They asked about the students’ internal sense of being male, being female or having another identity, like nonbinary. They found that more than 7% of young people surveyed shared a gender identity that did not fully align with the sex they were assigned at birth.  

These findings were published in JAMA Pediatrics.

Being gender diverse, including being transgender, nonbinary or having another gender identity that doesn’t match the sex assigned at birth, is not a medical concern and is considered a normal part of human experience, according to the American Academy of Pediatrics. 

Even though gender diversity isn’t an illness, some young people who are gender diverse experience distress when their gender doesn’t align with their physical characteristics or treatment in society. This distress, called “gender dysphoria,” can be associated with higher rates of depression or even thoughts of self-harm, prior research suggests.

“We have a lot of studies that suggest gender-diverse youth are two to four times as likely to experience depression and thoughts of self-harm as their cisgender peers, or young people whose sex assigned at birth and gender identity fully align,” said WVU School of Medicine researcher Dr. Kacie Kidd, who co-authored the study. “This is an area where we need to do more research. We need to better understand how to support these young people, especially now that we are increasingly recognizing that they are here and would likely benefit from the support.”

Other study authors include Alfgeir Kristjansson, an associate professor with the WVU School of Public Health; Brandon Benton, a nurse with WVU Medicine; Gina Sequeira, of the University of Washington; and Michael Mann and Megan Smith, of Boise State University. 

Few studies have asked young people directly about their gender identity. 

A 2017 study suggested that West Virginia had the highest per capita rate of transgender youth in the country at just over 1%. 

“Prior studies have used less inclusive questions when asking young people about their identity,” said Kidd, an assistant professor of pediatrics and internal medicine. “We suspected that this underestimated the prevalence of gender-diverse youth.” 

She and her colleagues had previously asked these more inclusive questions to young people in Pittsburgh, a city in Appalachia. Nearly 10% of youth in that sample reported having a gender-diverse identity. 

“Despite the high prevalence of gender-diverse identities found in our Pittsburgh study, information about rural areas was still unknown,” Kidd said. “We suspect that many of the young people in rural Appalachia who shared their gender-diverse identities with us in this study may benefit from additional support, especially if they do not feel seen and supported at home and in their community.” 

This new study is one of many to recognize that researchers interested in gender diversity face a dearth of data when it comes to rural areas.  

It’s also one of many studies to recognize that gender-diverse individuals can face a scarcity of health care options, affirming social networks and other forms of support in those same rural areas.

For example, in a recent study led by Megan Gandy, BSW program director and assistant professor at the WVU School of Social Work, up to 61% of participants said they had to travel out of West Virginia to access gender-related care.

And another recent study conducted by Zachary Ramsey, a doctoral candidate in the WVU School of Public Health, found that rural areas could present unique barriers to sexual and gender minorities. 

Those barriers included discrimination and heteronormativity — or, the belief that a heterosexual and cisgender identity is the only “normal” one. They also included a lack of training for health care providers in handling LGBTQ concerns.

“Adolescent mental health is at a crisis point, according to the Centers for Disease Control,” Kidd said. “We have an access concern because so many young people need mental health services nationwide and we just don’t have enough mental health professionals to meet that need. It’s a growing problem and certainly gender-diverse youth are at an even greater risk.” 

In CDC data, the number of adolescents reporting poor mental health has increased, especially during the COVID-19 pandemic. Support from parents, schools, communities and health care providers has been associated with improved mental health outcomes, especially for gender-diverse youth.  

“Gender-diverse youth are incredible young people, and — as our study found — many of them live in rural areas,” Kidd said. “It is important that we ensure they have access to support so that they are able to thrive.”

Citation: The prevalence of gender-diverse youth in a rural Appalachian region”

Research reported in this publication was supported by the Centers for Disease Control and Prevention under Award Number U48DP006391 and the Agency for Healthcare Research and Quality under Award Number 5K12HS02693-03. The content is solely the responsibility of the authors and does not necessarily represent the official views of CDC or AHRQ.


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Best Penny Stocks To Buy: 4 Short Squeeze Stocks To Watch Now

Penny stocks to buy: Here’s what short interest traders think
The post Best Penny Stocks To Buy: 4 Short Squeeze Stocks To Watch Now appeared first on…

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Penny Stocks To Buy: What To Look For

This article will discuss a handful of penny stocks to buy according to those looking for short squeeze stocks. If you’ve seen our other articles about cheap stocks with high short interest, you know that there are a lot of risks that go along with potential rewards. A quick yield means everything to traders looking to catch a short squeeze. The moves up can be legendary, but the moves lower can bring crushing blows to anyway caught on the wrong side of the trade.

The last few weeks have shown the market exactly how massive short squeezes can grow. AMTD Digital (NYSE:HKD) was the fuse that sparked the snowball effect for these trading trends. This week that continued with the latest penny stock to squeeze: Intelligent Living (NASDAQ:ILAG).

In most cases, there is very little news, if any, to act as a fundamental catalyst. With the majority of short-interest stocks, technical aspects of trading take precedence. Case in point, ILAG stock exploded 260% within about a day’s worth of time and the company didn’t release a shred of news or a single corporate filing. But it does have a tiny float and bullish momentum heading into the Monday session, which set the stage for the latest move.

Penny Stocks To Buy With High Short Interest

Does this mean all penny stocks with high short interest are destined for massive breakouts? No, and there’s usually a reason for high short interest. It usually doesn’t coincide with companies doing record revenues or experiencing ongoing growth.

Short interest grows based on traders betting the stock will fail. They’ll short it by borrowing shares from a broker, selling them, then repurchasing them later when prices are lower to return the borrow.

How To Find Short Squeeze Stocks

When a short squeeze triggers, prices move in the opposite direction, forcing shorts to cover their positions early and either break even or take a loss. This short covering, paired with high levels of retail buying, triggers a more significant move in the stock.

Let’s look at a handful of penny stocks with higher short interest. Data we’ve found using resources like TrueTradingGroup.com’s Unusual Options & Short Data Tool.

  1. Karyopharm Therapeutics Inc. (NASDAQ:KPTI)
  2. Helbiz Inc. (NASDAQ:HLBZ)
  3. Purple Innovation Inc. (NASDAQ:PRPL)
  4. Ostin Technology Group (NASDAQ:OST)

1. Karyopharm Therapeutics Inc. (NASDAQ: KPTI)

KPTI Stock Price as of this Article: $4.85

What Does Karyopharm Therapeutics Do?

The commercial stage pharmaceutical company develops cancer therapies, including multiple myeloma, endometrial cancer, myelodysplastic syndromes and myelofibrosis. Its lead SINE compound and XPOVIO platform is approved in the US in three oncology indications. Last quarter, the company achieved net product revenue 44% higher than Q2 2021 at $29 million. It also received full marketing authorization by the European Commission Expanding Indication for NEXPOVIO (trade name in Europe) for adults with multiple myeloma.

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A sales and earnings beat has helped build back some optimism that was lost over the last few months. It was also enough to raise the eyebrows of HC Wainwright analysts, who reiterated a Buy on KPTI stock and paired it with an $18 target.

KPTI Stock: A Short Squeeze Stock To Watch?

According to data from TrueTradingGroup.com’s Unusual Options & Short Data Tool, the current short float on KPTI stock is 25.11%.

2. Helbiz Inc. (NASDAQ: HLBZ)

HLBZ Stock Price as of this Article: $1.31

What Does Helbiz Do?

Another one of the names on this list of penny stocks is Helbiz Inc. The company specializes in “micro-mobility,” which is a fancy word for things like eScooters, eBikes, and eMopeds. Its fleet management technology uses artificial intelligence and environmental mapping to sustainably scale and manage its assets.

A recent partnership with Logan City Council in Australia will see Helbiz operate up to 400 eScooters and 400 eBikes later this month. “This latest partnership marks a significant step towards bringing safe, sustainable transportation alternatives to Australia. This announcement follows the plan to introduce 500 e-bikes in Sydney and 100 e-scooters in Alloggio resorts later this year,” said Mitchell Price, Helbiz Australia Managing Director.

HLBZ Stock: A Short Squeeze Stock To Watch?

According to data from TrueTradingGroup.com’s Unusual Options & Short Data Tool, the current short float on HLBZ stock is 32.64%.

3. Purple Innovation Inc. (NASDAQ: PRPL)

PRPL Stock Price as of this Article: $4.22

What Does Purple Innovation Do?

Purple Innovation is a slower and steadier mover compared to other names on this list of penny stocks. Shares have climbed from lows of $2.90 to highs of $4.40 over the last few weeks as PRPL stock attempts to reclaim some of this year’s losses.

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You may have seen Purple advertised on social media for its “no pressure mattress” technology. The company offers “comfort solutions” ranging from mattresses and pillows to bedding and frames. This week investors are likely waiting to see if Purple can turn things around. The next round of earnings comes on August 9th, and guidance will probably be on the menu. Last quarter, Purple management cut its guidance.

Chief Executive Officer Rob DeMartini explained, “We remain in the early stages of creating the framework for strong operational execution. While we are making progress and believe we will see sequential improvements, including second-half profitability during this year, evolving economic and post-pandemic headwinds such as a shift in consumer buying behavior from online to in-stores and away from home related categories toward experiences and travel, has caused us to adopt a more conservative view on the remainder of 2022.”

PRPL Stock: A Short Squeeze Stock To Watch?

According to data from TrueTradingGroup.com’s Unusual Options & Short Data Tool, the current short float on PRPL stock is 25.24%.

4. Ostin Technology Group (NASDAQ:OST)

OST Stock Price as of this Article: $3.12

What Does Ostin Technology Do?

Ostin Technology supplies display modules and polarizers in China. It recently secured a $2.6 million deal for a purchase order of LCD/TP display modules expected for use in iGame G-ONE Plus gaming PCs.

CEO Tao Ling said in a July update, “We believe our products are able to power the iGame G-ONE Plus AIO gaming PC and provide an unrivaled gaming experience for gamers. We are dedicated to meet our customers’ evolving needs and have focused on establishing and maintaining long term relationships with our customers, in an effort to ensure our sustained development and improved profitability.”

OST Stock: A Short Squeeze Stock To Watch?

Other than the short float percentage, the borrow fee rate is something that traders look at. This is a fee that a broker charges for borrowing shares. Typically, the higher the fee, the more difficult it is to borrow the stock. According to data from TrueTradingGroup.com’s Unusual Options & Short Data Tool, the current borrow fee rate on OST stock is 56.71%.

Penny Stocks To Buy For Beginners

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The post Best Penny Stocks To Buy: 4 Short Squeeze Stocks To Watch Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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