30y JGB's 2.8% / EU-U.S talks stalled, on China choice / NVDA hit / #HGOLD #CHF #JPY up, USD down still

Stéphan
Apr 16
3 min read

#NVDA tumbles after hours, self inflicted by U.S government, as they ask the company to get a license to export certain chips to China >>> if there was any doubt about U.S- China economic war ! ALL about slowing China down, best be very careful how the U.S is going on about those deals >>> deal or no deal, Trump's TVee entertainment is unlikely to end well >>> as Bessent said, easy deals first, those holding out get worse and worse
The European Union and US made little progress in bridging trade differences, with US officials indicating that most US tariffs on the EU will not be removed. The EU has offered to remove all tariffs on industrial goods, including cars, but the US has rejected the proposal, and instead suggested that some tariffs could be offset by increasing investments and exports >>>> the cat is out of the bag !! all clear to see now..if there was any doubt..US to demand EU pulls away from China in return for cutting tariffs. Confidential briefing documents identify what US may seek in talks and point to early move on pharma tariffs
U.S update : seems neither party can stop spending cash, no-one wants to raise taxes, DOGE seems to eventually yield about $50bn per year in savings on a $7.5trn budget...pretty pathetic...U.S borrows 10% of GBP every year and might even get worse, together with a waning power/influence globally, the USD seems to be doomed to continue to weaken, GOLD up etc. And let's not forget, that within their tariffs talks they always speak about 'currency manipulation', and hence if all hails fail and tariffs fail to bring enough cash, they could weaponize the USD value...
Markets : SPX 5500 area top of the range, sell rallies (was already nearly 12% off lows..U.S. Profit Outlook is now the most unfavorable since November 2007-BofA), #NVDA news was the trigger last night (down 7% in after hours), knocked whole market back down, together with boosting the usual GOLD, CHF and JPY..
JGB's 30y yields 2.8% #JPY #USDJPY .. still think we could see 120-125 USDJPY in 2025
U.S : 30-year mortgage rates just hit 7.50%, the highest since January
UK March CPI +2.6% vs +2.7% y/y expected - relatively good news
Tourists are ditching America — and it's set to cost the economy billions
The UK has signaled to the EU that it's open to accept the dynamic alignment of rules on agrifood products + supervision of the ECJ over the SPS deal it wants to negotiate. Big shift in UK position - soft rejoin...#gbp
France is poised to make a one-off wealth tax permanent in a bid to tackle spiralling national debt
The 'fairy tale' problem with Trump's car tariffs, according to an analyst
Hong Kong announces suspension of postal service for goods heading to the United States effective April 16th