#META hiring freeze & #Altman = top / JPN 30y 3.2% ATH's / Trump's roving banditry-FT / Jackson Hole now
- Stéphan
- Aug 21
- 3 min read
Markets : ALL about Jackson Hole tone on rates (prediction=total data dependence, job data key now..!), Trump wants another FED member to leave, and that was even before FOMC minutes (risk of inflation outweighs concerns over labor market..>>> and again.. #macro ''Meta is freezing all AI hiring, per WSJ'' AND The Federal Reserve didn’t provide any liquidity to Wall Street between Aug 14 till yesterday (Aug 19) and decline -4%...again and again, FED and Trump been juicing the market, if they don't..it falls.. tiz indeed all about liquidities, as the macro picture has worsened and valuations are way too high (Shiller PE near 40, Buffett indicator at 200% of GDP, tariffs choking margins as demand freezes, consumer going into hiding. while Trump continues to run the US economy like a mafia boss (FT).. #timeforahedgingtrade
#AI : sure is/has been one of the most exciting things in tech right, ever probably, but it’s surely starting to feel more like a house of cards
Most Federal Reserve officials highlighted the risk to inflation as outweighing concerns over the labor market at their meeting last month, as tariffs fueled a growing divide within the central bank’s rate-setting committee >>> 2018 Sep-Oct, Powell gave strong pushback to Trump's calls to cut rates. Markets sold off until January. History doesn't repeat but often rhymes >>> Tom Lee now saying a -10% pull back between Sept - Oct. We are consistently ahead of everyone
Japan’s 30-year bond yield has spiked to 3.20% - the highest level on record, 20's highest since 1999
Trump Targets Corporate America to Achieve Economic and Foreign Policy Goals >>> this is SO WHERE it's going , taking-thieving stakes in various companies across America, not much different than China then !!...
UK : Reeves considers replacing stamp duty with new property tax. Exclusive: Treasury examines options including tax on homes sold for more than £500,000 as well as overhaul of council tax
Good old #Brexit... which is battering Britain’s services sector, exports to the EU are down nearly 16%, with red tape, licensing hurdles and loss of mutual recognition costing firms clients and cash. Far from “Global Britain”, we’re watching our strongest industries bleed competitiveness
China scrutiny of Nvidia chips sparked by ’insulting’ remarks from US official- FT
Kenya is in talks to convert the debt it owes to China from USD to RMB. About $5 billion of its $40 billion in external debt is owed to China/Thread
FOMC: Several Officials Said Current Rate May Not Be Far Above Neutral - Minutes
- Several Flagged Risk Of Inflation Expectations Anchoring
- Many Noted Full Effect Of Tariffs Could Take Some Time
- Majority Saw Employment Risk Outweighed By Inflation Risk
- Several Noted Concerns About Elevated Asset Valuations
- Several Expected Firms Would Pass Tariffs To Customers >>>>> still some work for Trump to do to move the majority of the FOMC, more 'firing' needed! 🙂
Trump’s roving banditry will undermine the US economy
On tariffs and tax the president acts like a mafia boss, but not a very good one
Higher taxes, one way or another, not just in UK...are coming, get used to it
Kakashii on X: "I'm old enough to remember investors' concern about the rate of cash burn at Meta during 2022, when they punished the stock with a drop of up to 77% from its peak, until Mark gave in and cut capex. Now we are facing an almost identical situation where Meta has 40% less cash on https://t.co/Cx5Oikeu1r" / X
Michael Pettis on X: "1/9 Kenya is in talks to convert the debt it owes to China from USD to RMB. About $5 billion of its $40 billion in external debt is owed to China. It makes sense for developing countries to diversify their external debt away from a single currency. https://t.co/oBFwr6DELg" / X
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