Week ahead : could be quite eventful week with the amount of bonds going under the hammer, 54bn 3y, 42bn of 10's and 25bn of 30's + geopolitics which are getting more intense!
US intends further strikes on Iran-backed groups, national security adviser says
Powell tells it on '60 minutes' FED is wary of cutting rates too soon, same message than last Thursday' , he sees 3 cuts in 2024 relative to the 6 the market has priced in.... and forward looking indicators are through the roof lately, semis (obviously Ai related), but still, recession ? how about ISM manuf near 60 this summer ?...
“The U.S. federal government is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy… We're borrowing from future generations,” says Fed chief Jerome Powell
Bayer trades well below book value
AfD party continues to fall in the polls after tens of thousands protest in Germany against the far right. In the latest polls, the far-right AfD party is only at 19% and 20% respectively way below ATH
Apple has bought back $619 billion in stock over the past 10 years, which is greater than the market cap of 492 companies in the S&P 500 >>> Chinese investors are (have been) hammering their own stocks to buy Mag 7
Michelle O'Neill: Balancing act ahead for a historic first minister
Paris votes in favour of €18-per-hour parking fees for SUVs
SNB total sight deposits w.e. 2 February CHF 481.2 bn vs CHF 472.2 bn prior
Senate releases $118 billion bipartisan aid proposal for Israel, Ukraine, border security
Big Tech boosts profits by $10bn with accounting change to server life estimate
Alphabet, Amazon, Microsoft and Meta have all shifted estimates of how long they will use technical equipment
Eurozone Jan 2024 HCOB services PMI 48.4 vs 48.3 flash (previous 48.8)
Trump suggests he would consider a tariff upward of 60% on all Chinese imports if reelected
Markets : Chinese stocks volatile/can't catch a break (Trump), Mag 7's went up like 'meme' stocks last week, USDJPY about to test BoJ again near 150jpy area (might be worth trying to short a few crossjpy's again 160+eurjpy etc) , SPX500 overdone, but we've been here before, below 48000 area will only worry the bulls and big week for bonds 200dma 10's UST around 4.10 (we keep in mind 4.10-4.,20% yield resistance, well beyond this could well now be the trigger for a correction in QQQ. USD overall stronger, after big payroll number, revisions or not, it was big, including average earnings
Powell insists the Fed will move carefully on rate cuts, with probably fewer than the market expects (msn.com)
(spglobal.com) Eurozone downturn at its weakest since July 2023
Big Tech boosts profits by $10bn with accounting change to server life estimate (ft.com) totally insane...Incredible: Amazon's AWS revenue in 2023 ($91 billion) was higher than the revenue of 463 companies in the S&P 500. From $3 billion to $91 billion in 10 years (>40% annualized growth)
Holger Zschaepitz on X: "OUCH! #Germany's #Bayer is trading at only 83% of its book value. In other words, if the company were to be sold today at book value, shareholders would make a profit of 17%. Or to put it another way: the core business is viewed negatively by the financial markets. https://t.co/EAMkGL21FR" / X (twitter.com)
Holger Zschaepitz on X: "AfD party continues to fall in the polls after tens of thousands protest in Germany against the far right. In the latest polls, the far-right AfD party is only at 19% and 20% respectively way below ATH. https://t.co/NUqZD8JvaW" / X (twitter.com)
Market cap alone went up 250bn last week, nothing to see here
But apparently there is little or no inflation..
Trump suggests he would consider a tariff upward of 60% on all Chinese imports if reelected (msn.com)
EURUSD
