The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose "significant risks" for the global economy.'
Christine Lagarde says US plan to raise debt against Russian assets carries legal risk, from European Central Bank chief who points to transatlantic rift over use of seized funds
EU to tighten Iran sanctions after Israel attack & Biden calls for tripling tariffs on Chinese metals, US reimposes Venezuela oil sanctions >>> inflation!
U.S., Japan, South Korea finance chiefs share concern for weak yen, won First trilateral meeting also addresses Pyongyang missile sales and supply chains >>> Asian FX battle may well soon heat up
Equity Risk Premium (the benefit of owning stocks over treasuries) has fallen to its lowest level in 22 years
MORGAN STANLEY: “.. We do not believe #TSLA will get credit as an AI company as long as core auto earnings are being revised down. .. This process may take a few more quarters to see through, over which time our $100 bear case may be ‘in play.’”
NY Fed's SOMA projections are out, they see the balance-sheet bottoming around $6trn
Markets risk : going in full correction mode >> recall CTA were full/über long risk up to 1week ago, now price action different, selling into weakness (short gamma), a decent correction may well be what bonds need - eventually (2y area IS value at 5%), USDollar stays firm(er), but do watch out if ASIAN CB's wake up on interventions facts, rather than noise
NY Fed's SOMA projections are out, they see the balance-sheet bottoming around $6trn
NASDAQ - a decent correction could easily takes us another 10% down towards 16K - beware earnings season, with less of a BTD mentality, earnings miss will be brutal