Moody's downgrades U.S, Bessent seems not to care / UST 30Y 5%, 10's 4.5% & USD down! WMT ! / UK-EU deal

Stéphan
May 19
3 min read

Markets : Bessent to WMT : eat those prices hikes!, Moody's downgrades U.S credit rating (Govt debt exploding higher! main reason..), Trump to talk to Ukraine and Russia after weekend talks, Iran waters down U.S nuclear deal, Portugal and Romania more to the center, SNB and U.S +ve 'exchange' >>> Bonds, USD, Stocks, Gold all on the move, bonds doing most of the work, given the huge 20/25% stock rally of the last 3-4 weeks... UST 30y 5%, no good for Bessent ! SPX500 5900+ looks too stretched give fundamentals ! sell rallies, reduce exposure, buy some downside, as discussed a lot with you since last week
UK-EU deal 'breakthrough' as Keir Starmer to announce post-Brexit reset agreement after late-night talks
Scott Bessent Asks 'Who Cares' About Moody's Downgrade, Boasts Of Trillions Coming In From Trump's Middle-East Tour, both Bessent and Trump telling WalMart to eas prices rises-FF >>> going full China, telling Unis how to teach their students, companies how to run their business and prices, soon tell banks who they should lend to ? very very unlike America of last few decades...Eq markets should be concerned about what the WH is all about (bonds certainly are...)
President Donald Trump on Friday said the U.S. would begin unilaterally informing many of its trading partners of new tariff rates, acknowledging for the first time that his administration will be unable to negotiate deals to lower tariffs with more than 50 trading partners by a self-imposed early July deadline
China tariff ‘stacking’ pushes true cost of import taxes well above 30% on many consumer product
UBS makes dollar victims an offer - crazy ‘Exotic Options’. UBS could be facing a king-size write-off. Depending on how much it has to pay the dollar victims, it could be looking at between 500 million and 1 billion
Portugal’s ruling centre-right coalition won a snap poll, early results showed, the far right vote also surged. Bucharest’s centrist mayor won Romania’s presidential runoff, defeating a Trump loyalist. Poland’s presidential election will go to a June 1 runoff between a Donald Tusk ally and a nationalist
Swiss Had Good Exchange with US on Currency, SNB Chief Says - Switzerland's central bank president, Martin Schlegel, said the country is not a currency manipulator and has had productive talks with the US on currency interventions. The Swiss National Bank (SNB) has only intervened in the franc's exchange rate to meet its price stability directive, not to gain an advantage. The SNB president expects no recession in Switzerland and hinted at possible negative interest rates, depending on the economic situation