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France : Article 49.3 / BoJ's next move / Swiss CPI softer / NATO's message to Trump / DAX 20K / NFP up next

  • Writer: Stéphan
    Stéphan
  • Dec 3, 2024
  • 3 min read

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  • Which way to we go ?...Le Pen and left set to topple Barnier government. Barnier is due to address television news programmes on Tuesday evening, starting around 1900 GMT, and is expected to face no-confidence motions on Wednesday, watch OAT/Bund spread for clues >>> thing is, all 3 parties 'hate' each other, and won't sign the other 2's proposition, somehow there is a path for Barnier! :-)

  • Markets : bonds new highs pretty much across board, CHINA bonds leading (Like Japan previously..), low VIX pushing SPX5600 to a 55th high YTD, DAX 20K+, JPY crosses got exiting (got a little overdone yesterday, TP time), FED's Waller dovish, all about NFP now for the next bout of vol

  • FED's Waller leaning on Dec cut, Williams data dependent >> market now pricing almost one 25bps cut for the next two meetings

  • Trump warns of "ALL HELL TO PAY" if Israeli hostages are not released

  • Swiss CPI at 0.7% vs 0.8% expected, market may start pricing in 50bps cut for Dec

  • BoJ weighs case for first Triple hike since Japan's bubble burst/BBG

  • Vladimir Putin to reject Donald Trump’s opening peace offer, says Russian tycoon

    Konstantin Malofeyev says. Russian president to engage in talks only if they include broader conflicts

  • Response to Trump's tariffs threat : China will ban exports of 'dual-use items' related to gallium, germanium, antimony and superhard materials to the United States that take effect from Tuesday >>> Ai doesn't work well without new chips

  • Workers at Volkswagen factories across Germany striking after the manufacturer said it would have to close plants amid falling demand and a slower-than-expected transition to electric vehicles. '''European governments’ obsession with net zero is a death wish on the automotive industry'''' >>> the EV cars built last few years are far too big, too heavy (think tyres needs..anything but green..), insurance prices are higher, overall price is 30% more than a 'normal car'.. and electricity priced went up big time, the EV markets needs to produce cheaper, smaller cars that are more affordable to folks, then they will be bought.. (clearly doesn't happen overnight in europe! it is already happening in China though..)

  • "NATO’s new secretary-general Mark Rutte told the FT that the US would face a “dire threat” from China, Iran and North Korea if Ukraine were pushed to sign a peace deal on terms favourable to Russia."
















 
 
 

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