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Bessent & China trade tensions / BoJ & JGB losses, JPY / NVDA earnings / DOGE impact ?! / UKR-RU drone attacks

  • Writer: Stéphan
    Stéphan
  • Jun 2
  • 3 min read

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  • Markets : UKR/RU drones attacks deep into Russia, Bessent unhappy with China (rare earth), DOGE brought nothing (probably a NET COST), BoJ warning on JGB (JPY), NVDA's earnings need some 'clarification' (must follow story!), chaos in France as their club wins the CL, go figure >>>> equity markets rallied about 1pct into month-end close, looks like giving that up on open this week, SPX500 trading just under 5900, big picture, valuations are high, too high given macro picture and geopolitics (lighten up on risk, hedge some exposure and wait for opportunities)

  • Even if the Supreme Court rules against the Trump administration on tariffs, the US effective average tariff rate would still settle in the 15-18% range, by JP Morgan estimates.  Tariffs are a central pillar to Trump’s economic agenda and the administration will likely turn to other available options to impose tariffs

  • Trump : "We're not looking to make sneakers and t shirts. We want to make military equipment.” - Trump Does anyone want to tell Donald that the U.S. produces more military equipment annually than the rest of the world combined?

  • Bessent : China is "withholding some of the products that they agreed to release during our agreement." >>> basically...admitting that the US cant impose further tariffs to China without the U.S suffering economically...

  • NVDA’s revenue from Sing reached a record high of $9 billion last quarter — that's 20% of total revenue, and doesn't include an additional $5.5 billion in sales to China and HK. This is a total of $15 bn, a 3rd of all revenue last Q, is tied to China... >>>> NVIDIA Warns It May Struggle to Compete in China’s AI Market if Restrictions Persist, Raising Risk of a Business Foreclosure

  • Marco Rubio officially announced that anyone who criticizes Israel will NOT be granted a visa to enter the United States

  • The Bank of Japan has boosted its provisions for JGB losses - braced for higher rates #USDJPY should head south again, together with geopolitics, equity should be weaker

  • #DOGE Trump is now reportedly asking if DOGE is all just “bullshit” after it was revealed that it is on track to cost taxpayers more money than it supposedly saved. “Was it all bullshit?” Trump asked aides

  • Musk’s interview went great: Reporter: What is your thought on the ban of foreign students, you were one of those kids, right? Musk: “I think we want to stick to talking about spaceships.” Reporter: I was told that any topic is good. Musk: “Well no.”

  • Morgan Stanley sees the Dollar falling ~10% on slowing US growth and amid continued uncertainty over Dollar's safe-haven status >>> there will be an increasing amount of investment bank coming up with similar calls..The U.S. Dollar is currently 15% overvalued, according to Goldman Sachs









Already taken, big Ai firms too big now already, law is lightyears behind, businesses develop in months rather than decades in the 21st century, the law changes still based on 19th century style..


Perma not so perma anymore..







 
 
 

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