MoF against what they described as rapid and speculative yen moves overnight when the Japanese currency broke past 150 yen, undermining the trade-reliant economy >>> need to walk the talk if they really want to change anything in a relative strong USD world
USDollar stays firm(er) as rates finally diverge (EZ growth downgrades, UK mix - higher wages, unch inflation, U.S rates up a decent 15bps yesterday!.. #TLT #duration under pressure)
Following stronger data, ISM, NFP and U.S CPI now, market pricing for 2024 Fed rate cuts has fallen from around 150+bps at end-2022 to around 90bps now
BofA Feb Fund Manager Survey: Investors are the most bullish in 2 years; cash lvl's cut to 4.2% with growth expectations at 2y highs; investors aren't predicting a recession for the first time since Apr'22; long magnificent 7 is the most crowded trade since Oct'22
The Mag 7now have a higher market cap than the entire stock markets of Japan, France, the United Kingdom and Mexico COMBINED! ..
MS : “.. EV sentiment is extremely negative… and will eventually deteriorate further, in our view. .. Our clients want our auto companies to do a combination of 4 things: spend less, spend slower, spend smarter, and return cash.”
Germany to lower 2024 economic growth forecast
ECB’s De Guindos: Potential Growth Very Likely To Slow In Future - Economic Activity Likely To Have Stagnated In Q4
VIX calls buying : 1.27mio VIX calls traded yesterday, similar levels to Jan 12th and probably even to Oct level of 1.37mio, after that it's 1.65mio during regional banking 'crisis' last March
Jeff Bezos could save $600 million this year thanks to his move to Florida. The billionaire avoided Washington state's 7% capital gains tax on a recent sale of $2 billion worth of Amazon stock
Lyft’s stock had a bonkers after-hours rally, rocketing upwards of 60% higher at one point — then quickly contracted before settling to still-solid gains of around 16%
Another on of those 'stat' : The number of weekly increases in the S&P 500 is the most overextended it has been in over 50 years
Markets : U.S CPI resetting expectations on FED cuts for 2024, market aligning to FED dot plots slowly but surely, rates sensitive areas got hit (Russell etc), main market looked set for a pretty weak close, till a last hour rally from around 4'920 to 4'960 SPX, driven by QQQ as usual, NVDA was flat on the day, they report next week! USD firmer as it should still on 'high for longer' high plateau for rates (as unlikely as it may be, the big risk is a couple of Fed members start to argue for a hike..)
Very nicely put together by the excellent Althea - Althea Spinozzi on X: "🇺🇸Hotter-than-expected CPI doesn't bode well with an aggressive rate-cutting cycle. - Headline 3.1% vs 2.9% exp. - Core 3.9% vs. 3.7% exp. ⚠️10y yields bounce to test weak resistance at 4.28%. If they close above 4.2%, they will likely continue their rise to 4.4%. https://t.co/pncEQpdoD7" / X (twitter.com)
Those expecting cuts really want this trend to continue ! Charlie Bilello on X: "Shelter CPI has now moved down on a YoY basis for 10 straight months, from a peak of 8.2% in March 2023 (highest since 1982) to 6.0% today. Given its long lag vs. real-time rent data, a continued move lower is expected which should lead to a continued decline in core inflation. https://t.co/jTufhssAki" / X (twitter.com)
And this is NOT good news Alf on X: "This is supercore inflation - a measure of sticky inflationary pressures Powell & Co often refer to: - It slowed down vertically towards ~3% until the end of last year - But since then it has now accelerated rapidly to 5.5%! This isn't good news for markets. https://t.co/1MlJPjGCuF" / X (twitter.com)
Lyft’s stock had a bonkers after-hours rally. Was it due to a typo in its earnings release? (msn.com) quel joke, how is this still possible in 2024...
More weather end of the world doom - can't we just admit/say that the planet is changing over pre and next few decades, we all agree that the weather is MUCH more volatile, let's make the most out of it and meanwhile (have to ) adapt, as we should ? You can't force some people to do certain things and pay for them, when few other billions on the planet don't or can't do much about it (diff wealth or economic cycle)
Peter Stefanovic on X: "If like me you’ve had enough of the absolute boll**** Rishi Sunak just fed GB News viewers in his “peoples forum” RT these FACTS widely https://t.co/EgALVDAOCl" / X (twitter.com)
Pakistan Election Results 2024 Live Updates: 'Pakistan Tehreek-e-Insaf open to talks with all parties, except PPP, PML-N', says Imran Khan - The Times of India (indiatimes.com)
NASDAQ100 - Fibo retracement levels from the move since late October 2023
