U.S Senate stays in Democratic hands, Trump a liability to Reps/WSJ
Fed' Waller trying to put breaks on market's enthusiasm, Fed’s Waller Says There’s a ‘Ways to Go’ Before Rate Hikes Done
FTX and al, what a circus, we might well go into crypto ice age for a while
The Swiss National Bank Began Unloading its Biggest US Stock Holdings, incl. Apple, Microsoft, Amazon, Alphabet, Meta
Finance minister Jeremy Hunt said he will set out tax rises and spending cuts this week to show Britain can fix its public finances and restore its economic credibility after financial market chaos sparked by former prime minister Liz Truss, big day on Thursday for UK and this might be useful : NI Protocol: UK-Irish relations have improved significantly - Irish PM
SNB Chairman says monetary policy not sufficiently restrictive enough.
US President Biden and Chinese President Xi Jinping met in Bali, ready to talk seriously he says, let's have it gents
Goldman Sachs said it expects a "significant" decline in U.S. inflation next year due to easing in supply chain constraints, a peak in shelter inflation and slower wage growth
Markets :
Crypto malaise might be profound, most likely will be, how on earth PF's and other prominent HF name will try to get out, having said this for now this remains a crypto issuse, it doesn't have to spread to rest of the market
USD weakened sharply last week, recovering overnight on Waller and oversold short-term conditions. USDCHF got knocked for three on Friday on Jordan's comments
Bonds and equity markets rallied hard last week, time to be prudent, but talks CTRA buying above SPX500 4'050+ would be pretty big (talks 100bn+), now you can also add share buybacks into equation and the likes of GS talks about daily demand of anything up to $10bn per day till year-end!
MOVE index, remember a few weeks back SAXO pointed out how important it was to markets overall (totally agreed with Steen, and coincided with peak inflation, peak usd, peak worrie setc)... valuation came our client's way, we increased risk in the mini panic 2months ago for our clients..>>> we needed bond vol to calm down for markets to calm down, in the space of 6weeks the index has collapsed from 160 to 110 area..
It's been a pretty volatile year for Equity markets, but we are happy to report that our philosophy and trust in our Investment Matrix has kept and sustained our client's wealth throughout these difficult times
Events and webinars | Saxo Bank (home.saxo) - tomorrow 'all you need to know about bonds' and more from Saxo - Bear markets have the most spectacular squeezes (podbean.com) daily + slide deck. Today we continue to find reason to question the quality of this melt-up in equity markets after last Thursday's soft US CPI print, with the first prominent Fed official already out overnight with pushback against this drop in US yields. Still, that's not to say that the move can't extend in the short term, as the market is also hoping that a shift in China's Zero Covid policy is coming. Xi and Biden will meet today ahead of the G20 meeting. We also look at stocks to watch this week, an important week for earnings, the big moves in metals both precious and industrial, the US dollar and much more
Have a great day
Team PVM