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Writer's pictureStéphan

#Pfizergate VdL / SNB higher r* / EU tariffs on RU grain imports / Freight costs up / EU CPI risk up, and PCE later



  • Key today is the European Inflation at 11:00 CET with the headline expected at 2.5% (regional surveys showing a possible upward surprise) and the US PCE Deflator at 14:30. The PCE is expected at 2.7% and the Core at 2.8% >>> equity risk been on defensive since the 'tailed' UST auctions, and few signs of pretty sticky inflation... and few sub optimal earnings reports particularly pushed DJ down this week

  • #JGB Japan's 10-Year yield jumps to highest level in 13 years - 1.07%..

  • Donald Trump was convicted on all 34 counts in his hush-money trial. It is the first time that a former American president has been found guilty of a crime

  • EU agrees tariffs on Russian, Belarusian grain imports from July

  • SNB President Thomas Jordan "the possibility that r* may have increased represents an upward risk to this inflation outlook"

  • When Albert Einstein met Charlie Chaplin in 1931, Einstein said, "What I admire most about your art is its universality." You don't say a word, yet the world understands you. "It's true. Chaplin replied, “But your glory is even greater.” The world admires you, when no one understands you. "

  • Bank of America CEO says U.S. consumers and businesses have turned cautious on spending

  • Pressure mounts on Beijing to allow renminbi to weaken. Markets push central bank for a weaker currency to reflect the gap in bond yields with the US >> good article from FT, on currency pressures facing by PBOC, negative RMB carry vs USD and other currencies, gives a rational for many to have a SHORT RMB

  • Pfizergate plaintiff asks leaders to sack von der Leyen and Commission

  • UK Treasury sells another £1.24 billion worth of NatWest shares as election threatens retail sale

  • #Crude Speculators (ICE futures) have built the largest Brent Oil short position since 2020

 



Those hoping for him to be in prison will be disappointed, first time offender, no violent crime, suspect a fine and a slap on the wrist it will be, and/or a long time stuck on appeals, he wants to be on the road campaigning for the election one would think!


DowJones _ Dow Slumps 380 Points As Salesforce Stock Suffers Worst Loss Since 2008 (msn.com) >>>> y'day, Software got chopped, iShares Tech Software Sector ETF finished -6%













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