Yesterday I concluded my tables by warning that there would be reversals of the triple-digit rises in several of our positions. Of course, I had no idea which stocks would fall, or I would have told my followers to sell them today. In fact, the dump was general as markets fell sharply over concern about high bond yields and potential inflation. While I know the Fed wants some inflation at around 2%, being the household shopper has made me aware of serious double-digit price hikes on some staples at my local supermarket. We are not talking about 2% but about 10%+. Janet Yellen probably doesn't do the shopping for her family in Washington, but she should look at her bills more closely.

The global exception didn't hold today and even good news from small drug firms did not lead to a rally.

The big selloff was on Q, but the Dow-Jones lost 170 points at the open as bond yields rose some more. The big good exception is gold, which rallied. The big bad exception was Boeing whose stock rose despite another accident with a 777 in Denver Sunday. BA, BA black sheep rose 1.3% despite the close call and grounded 777 planes with a Pratt Whitney engine, but there aren't a lot of them flying.

Off to the news:

Today's Worst Performer, alas, my pick for 2021:

*Brazilian Cosan CZZ, in a restructuring, crashed 10.4% today on concern about its debt, about $5 bn net of cash it has to hand. Most debt is in bucks and the cash and assets are in reais and Argentine pesos, so there is a worry about exchange risk and higher costs for new borrowing. I think this is overdone.

Utes and Energy

*AQN, Algonquin Power & Utitilities of Canada, fell 4.6% at the open after revealing it would lose $45-55 mn in earnings from the Texas energy massacre. It earned 5-6% of its 2019 eps in the Yellow Rose state. We own it for dividends and before I could buy more the share gained half the drop.

*Atlantica Sustainable Infrastructure plc, in which AQN invests, fell 5.3%. AY was tipped by Harry Geisel. I bought more at 25% below its year's high. Remember that to benefit from its tax-free payouts you must continue owning AY. I like it better than Harry's latest idea which may never be posted.

*BCE, the telco from up north, held up better having already fallen over Province rulings against higher charges for phones. It lost 0.01%.

*German electricity ute Eon.SE, EONGY, lost 1% today.

*Multichoice, MCHOY, African cellphone access and ads seller, MCHOY, is up 2.1%.

*French Veolia Environnement, VEOEY, gained 2.33% after Citi analysts said it was in compliance with EU sustainability rules, which is easier for a water-waste ute to meet than one selling power.

*Any association of a company with oil and gas led to its soaring: BP, up 4%; RDS-B, 2.7%; SLB, 7.06%; ESTE, 5.05%; HMLP, 0.12%.

*Any association with alternative energy led to negative moves: NIO down 5.1%; Energy Fuels, UUUU, down 1%; Canadian Solar, CSIQ, down 7.9%; Azure Power AZRE of Mauritius down 8.6%. However, it turns out that the main cause of the Texas outages was not windmills ceasing to turn but gas-powered plants lacking weather protection (as they are mostly used for air-conditioning.)

Metals

*Johnson Matthey rose 2.63% today on the spiraling price of platinum, leading to British thieves taking out exhaust systems from sportscars. JMPLY is at $91.11. Platinum only rose 2.1% in Feb.

*Antofogasta, ANFGF, rose 0.9% to a new high today as the British-listed Chilean copper miner was seen as a gainer from global recovery. It is up over 31% in Feb.

*SPDR Gold, GLD, rose 1.66% today to $169.79, as bitcoin lost traction.

*Canadian miner Kirkland Lake Gold KL, rose 2.44% to $36.6. Another Canadian gold mining startup in the Kirkland Lake area, Northstar Gold, raised C$287 mn with a private placement which was heavily over-subscribed. It has sites north and south of KL's in Ontario.

Druggies

*Israeli Bioline RX today rose 7.8% to match its rise after market Friday and in its homeland. BLRX.

*However Compugen CGEN, despite expansion of its deal with US Bristol Myers over the PVRIG antibody plus Opdivo for treating cancers, fell 7% while BMY fell 0.17%.

*For no real reason, Israeli TEVA lost another 0.32% today after opening still lower. It is now $11.01. I wrote up how executives were selling their options shares right after good results were posted.

*India's Dr. Reddy's RDY fell over 3% after announcing it would sell generic Privacid heartburn tablets in the US. The FDA banned the patented drug a year ago because of the presence of a carcinogenic.

*French Sanofi SNY, US JNJ, and British Glaxo GSK, all behind on covid-19 jabs, are joining forces for a mid-sized phase II trial of an antigen adjuvanted recombinant protein inoculation against variants which has enrolled 720 volunteers.

*Takeda and Daiichi Sankyo have begun COVID vaccine trials in Japan. TAK fell 1.6% on the news.

*Danish Novo Nordisk fell another 1.44% despite great results from its weight-loss drugs. NVO is a global leader in diabetes drugs.

*Bausch Health Cos, BHS, will reduce debt by $100mn by redeeming 7% senior secured notes.

*British drug major Astra-Zeneca withdrew its bladder cancer drug Imfinizi from the US after it failed to meet post-marketing requirements from our FDA. AZN dropped 0.23%.

*Highflyer Enlivex dropped 8.4% after doubling YTD and is now $16.4. ENLV will get a Chinese patent for its Allocetera immunotherapy which reprograms diseased macrophages to the homeostatic state which can cut the harm done by cancer, sepsis, Covid-19, and other diseases responding to immunotherapy.

Finance

*Standard Life Aberdeen gained 4%. It manages funds and sells insurance. SLFPF.

*State Street STT of Boston gained 2.6%. It is a back office for funds and ADRs.

*Sumitomo rose 1.6%; Mitsubishi 0.88%. SMFG, MSBHF.

*Banco Santander SAN however is down 2.5% comme d'habitude.

*Bank of Nova Scotia is up 1.27%. BNS.

*Finnish Sampo Oij, SAXPY is up a fraction. Swedish Investor, IVSBF, is down.

*CBOE is up 0.6%. It is expanding in Europe to provide option trades and data.

Tech is Dreck

*With utilities up, telephone suppliers should all be in clover. Vodafone is up 0.05%. But Nokia is down 2%. Ericsson is off 0.35%: VOD, NOK, ERIC.

*Mercado Libre, Argentine MELI, is down 3.75%.

*Naspers, South African internet operator, is down 2.8%. Prosus, PROSY, its Euroland clone, down 3.21%. This despite their stake in MCHOY which is up.

*Nintendo, NTDOY, game-maker, is down 2.11%. I have been getting flak for selling part of it too soon.

*The anomolous pricing of Norwegian Tomra Systems persists. The sorting and recycling systems European price is down at $44.25, TMRAF. However, its ADR is up 1.5% at $45.4. The stock market is too busy to arbitrage.