ME : both sides have now showed they can attack the other on their own ground, you could argue/hope this is chest beating stuff (well flagged) and we now can calm down and negotiate - Very hard to tell clearly, only a guess, the real risk for ROW economics remains with crude and closure of strait of Hormuz
Fed policymakers agree: there's no urgency to cut rates
"They're not competing, they're cheating," President Biden says about the Chinese steel industry
Blackstone warns that private equity cannot return capital ‘overnight’. Industry sitting on record amounts of unsold assets that will take time to sell even as M&A market returns to life
Investors withdrew $3.75 billion from junk bond funds in the week ending April 17 (LSG Lipper) the most in 14 months #highforlonger
Julius Baer puts out over-58s
Copper (green revolution and onshoring), close to a major break-up (techs) and ready to follow GOLD's recent break up
Janet is still hard at work this week with her IMF buddies to get them to buy her heavy auction supply next week to end the month. It is the last round of duration supply ahead of the next QRA announcements on 4/29 / Thread
In response to a question during a conference in Washington, New York Fed President John Williams on Thursday said another rate hike isn’t his base case. But he also said that “if the data are telling us that we would need higher interest rates to achieve our goals, then we would obviously want to do that.”
Cocoa prices mooning
#TSLA if investors loose patience with #Musk, particularly if he does not handle well the Q1 earnings period..
30y U.S mortgage back to 7.10% this week, highest since Dec
Volkswagen EV sales shrink as the European market slows down (Polestar sales down 40%, sounds more like an EV sales collapse..), good news is prices are coming down, it's getting almost affordable now!
What is cloud seeding? Dubai's freak weather linked to artificial rain The torrential downpours caused traffic to grind to a standstill, flight cancellations, and school closures — but was cloud seeding to blame?
Markets will remain wild/volatile/weekend risk etc, momentum has totally turned on major Eq indexes, beware own positions, as MXN showed overnight (MXNJPY long carry trades, as flagged last week, 'MXN longs most extended'... classic stuff. Big supply of UST's next week. SPX500 - getting there 38 to 50% retracement 4800-4900 range - QQQ equivalent more like 16K - chart below. DAX 16500/17000 area
Craig Shapiro on X: "Janet is still hard at work this week with her IMF buddies to get them to buy her heavy auction supply next week to end the month. It is the last round of duration supply ahead of the next QRA announcements on 4/29 and 5/1. She is selling $69bn of 2year notes, $70bn of 5 year…" / X (twitter.com)
UK blacklists Iranian naval force behind Strait of Hormuz container ship seizure | TradeWinds (tradewindsnews.com)
While borrowing to pay dividends..
Michael Pettis on X: "1/8 Although Russell Napier is right to identify China's high and soaring debt as a major problem for the economy, he then says: "China needs to not just reflate its economy but to inflate away its debts." https://t.co/Xacqr2lqg2 via @ft" / X (twitter.com)
How nice, is that including top management ?
Tory donor who funded Sunak private jet has £14.3m assets frozen in fraud case (inews.co.uk) slowly the swap being drained ! plenty more to come!
Building a town without much drainage is an issue..
SPX500 - getting there 38 to 50% retracement 4800-4900 range - QQQ equivalent more like 16K
Dr Copper
