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Oracle : force majeur / Trump talks to JPN PM about JPY / UBS / SNB unch /
Bon weekend !
Markets : Global yields higher overall (breathing space overnight), 2year UST just shy of 5%, 30's heading for 6% (at some point investors will be attracted by yields, but not yet), Oracle sent a “force majeure” notice to the developer of its data center project in New Mexico, Trump-Xi meeting: AI, Taiwan, trade and diplomacy take centre stage, Watch European Bank Stocks on report UBS mulling foreign merger (more threats..to the swiss government and tax payers..just accept it UBS.!!..) >>> equity markets holding up well given higher global yields (specific 'leveraged' companies getting hit though-as they should), USD has been firmer this following front end UST's, mr market could do with a softer crude, lets see what Iran, US, Israel and Saudi's can accept as a deal...or not
WHY the SURGE in UST yields (and global yields) should be less surprising than many making it to be/Thread
#USDJPY - The fact that even Trump is concerned about the yen is telling.
He reportedly told Japan’s prime minister personally that he was worried about the currency, while further intervention by Treasury Secretary Bessent may be on the way.
The priority appears to be (IS..).. doing whatever is necessary to prevent Japan from selling U.S. Treasuries to support the yen
Saudi Arabia has sold almost 100mio barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter, helping to avert a supply crunch
Hyundai expected to outsell Ford in third quarter as Detroit automakers lack hybrids
Everyone starting to shout about it slowly but surely, but the rise in global yields should should not have caught markets off guard, it hasn't caught us and our clients off guard, this is a theme we've long talked about... Government and corporate borrowing plans—especially in the technology sector—were well signalled, the Federal Reserve had indicated continued economic strength, and the declining capacity of traditional Treasury buyers was already well documented. Uncertainty over the duration of the U.S.–Israel–Iran conflict has added further pressure.
What appears to have amplified the move is psychological 'CB anchoring'': remember the 'temporary' inflation calls from central bankers...good times.... after more than a decade of artificially suppressed yields following the 2008 financial crisis, investors have become conditioned to rates that were exceptionally low and are struggling to adjust to a more normal environment
That's what happens when the balance-sheet is so leveraged .. no surprise there... Oracle stock falls on news it sent data center 'force majeure' notice
I always disliked giving my name (why?9.. when ordering a coffee.. you ? .. Starbucks is closing hundreds of locations | CNN Business
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