ECB committing to 3.25% / BoJ Dec minutes, #USDJPY #EURJPY / DE:3rd LNG Terminal / China $720bn
Kung Hei Fat Choy and happy happy rabbit !
European Central Bank to raise deposit rate to 3.25% by mid-year / Rehn this time and again, ECB’s Knot said to expect the ECB to hike by 50bps in February and March, followed by more steps in May and June
Jack Ma is more than a symbol: The end of the Chinese entrepreneur is the end of the era of rapid growth for China. Excellent analysis / Nikkei article
Japan finmin warns of severe finances as BOJ struggles to contain yields and BoJ minutes of the Dec meeting include wordings from two governments officials as they requested a rare adjournment
Exxon’s predictions about the climate crisis may have increased its legal peril
Several US states say news that Exxon scientists predicted global heating accurately strengthens their lawsuits against company
Germany receives third floating LNG terminal
Alphabet is laying off 12,000 staff due to a "different economic reality than the one we face today."
Fed's total assets have shrank another 20bn last week. Since start of QT, the Fed's balance sheet has ''only'' shrunk by about $500bn
Goldman Sachs to cut asset management investments that weighed on earnings
Hong Kong aims to lift COVID-19 testing and inbound quotas on China border travel
''While this may look good for China, economists at Nomura Holdings Inc. offer caution—and cause for concern. Poring over Chinese bank-account and income data, they calculated that Chinese households have indeed built up excess savings, to the tune of $720 billion.''
Tesla’s Price Cuts Are Roiling the Car Market.The EV maker’s sudden move pressures rivals, crimps used-Tesla values
Germany's foreign minister said her government would not stand in the way if Poland wants to send its Leopard 2 tanks to Ukraine, in a possible breakthrough for Kyiv which wants the tanks for its fight against Russia's invasion
Bill Gates has joined a slew of billionaires investing in an Australian climate tech startup that has plans to stop cows from burping methane..
USDJPY - watch out 131USDJPY+ (or you might prefer via EURJPY given ECB hawks out) for potential turnaround - chart below (+BoJ minutes and Kuroda on Friday). EURO higher on ECB commitment to higher rates
SPX500 rangy 3850/00 vs 4000/50 well defined range for now, lot more going on underneath though, sector rotation, China etc. IF rates remain relatively well behaved, it's not too hard to think we can have a slow grinding markets that goes on to test 4100 or even 4300 area
MACRO rates, there is a big trade out there, IF.. a short mild U.S recession quickly runs into a CHINA re-opening impact (see excess savings article below) and a lot of fiscal help >> this would call for steeper curves!
Crude stead/higher - this could also grind towards $90+ on China
Government officials who attended the Bank of Japan's policy meeting in December were granted a half-hour adjournment to contact their ministries, minutes showed, underscoring the significance of the central bank's decision to tweak its bond-market peg
USDJPY - watch out 131USDJPY+ for potential turnaround...