Week ahead : NVDA, FOMC minutes & more / FED exp down to 90 bps cuts in '24 / GS sentiment on highs / Le Maire cuts spending

President's day and Week ahead : NDVA reports on Wed (stock up 45% since they reported on 21t Nov - Vol simply a +/- 11% move in the stock), Traders no long expect FED to cut rates in May and switched to June. Approx 90 bps of cuts are now priced in for 2024, down from 137 bps expected before the Jan. 30-31 FOMC meeting >>> Highlights this week include Flash PMI data, the PBoC MLF and LPR rate decisions, alongside minutes from the FOMC (Wed), ECB and RBA >>> bottom line 2024 consensus challenged, blown to pieces really, 3 FED cuts instead of 6 (price at end of dec), will make interesting trading opportunities ! re-accelerating inflation and dissapointing Ai earnings are the 2 big key risks in weeks ahead

And most likely by mid March : Morgan Stanley: Biden's red hot Government Spending and Fiscal Stimulus ends when the Reverse Repo runs out

Why the Fed now finds itself on a collision course with the 2024 election

The GS sentiment indicator that measures positioning across various investors finally crawled back to "stretched" which should indicate lower returns going forward. Not a sell-signal per se, but "in the zone". MS : ''1y ago, discussed the ever-growing divide between the haves and have-nots. This divide was not limited to consumers but included corporates as well. Fast forward to today, and it appears this gap has only gotten wide

Thousands rail against Mexico's president and ruling party in 'march for democracy'

Call to urgently revive Theresa May’s plan for EU-wide defence treaty

The S&P 500's streak of 14/15 green weeks ended last week

One under appreciated economic negative from Brexit was its all consuming nature - years of endless political argument and energy annihilating negotiation in which nothing else got done

Natural gas prices plunge as US set for warmest winter on record, good news*, the overall cost of energy is on a downward trend, but electricity remains stubbornly sticky

French finance minister announces €10 billion in spending cuts for 2024. Bruno Le Maire on Sunday said that the country's 2024 growth forecast has been revised down from 1.4% to 1.0%

Estonia’s Foreign Intelligence Service annual report reveals Russia’s confrontational path >> Chinese Foreign Minister Wang Yi said conditions are not right for peace talks to end Russia’s war on Ukraine and also interesting development here : Denmark has decided to transfer all its artillery to Ukraine

Agriculture is becoming a key battleground in a global culture war over money, food and climate change

China's central bank signs 40 currency swap agreements with foreign counterparts