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Trump-Xi truce 'as exp' / FOMC messsage : confusing / MAG7 earnings 'expansion costs racking up' / UST 10's

  • Writer: Stéphan
    Stéphan
  • Oct 31
  • 3 min read
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  • FOMC ..at one point Powell said policy is “restrictive,” the next that the Fed is “taking a step back.”...so which is it ?..seems confusion is the new policy.. >>>> The Fed is cutting, ending QT, quietly buying T-bills, all of which are first steps towards stealth yield-curve control #YCC it's not a CB's job to worry about duration..! might get harder for markets to 'trust the FED and what they up to''..

  • Markets : Meta sold $30 billion in bonds (''as AI expansion costs rack up''), Trump Xi agree to 1year truce, ECB holds as expected, Fed Chair pick should be known by Christmas, Bessent says, China manuf PMI in Oct down to 49.0 (lower than exp 49.6), BlackRock stung by loans to Business accused of 'Breathtaking' fraud >>> Bonds sold-off this week (10's UST 4.11 again, ''life below 4% not going to happen #supply and FED hesitant for Dec and it was all priced in..), pretty awful equity markets 'underneath', credit issues popping out, MAG7 mixed and clearly 'expansion costs racking up'', and USdollar slightly firmer, not by much but perhaps a light 'risk-off' sign for next few days-weeks, going into year-end markets are all 'bulled up and full on the Ai trade'.. it's worked like a dream this year, beware of any potential 'momentum' reversal into year-end

  • Geopolitics : Donald Trump-Vladimir Putin Budapest summit axed following Moscow memo. Russian foreign ministry’s maximalist demands for ending Ukraine war led US to scrap planned meeting,

  • Trade : China emerges as US ‘peer rival’ at Xi Jinping-Donald Trump summit. Beijing shows it can force Washington to compromise on trade issues. (FT)

  • US and India sign 10-year defense pact to share info, cooperate on tech

  • The result of the Dutch general election remained too close to call on Thursday afternoon, with the far-right PVV and the liberal D66 tied on 26 seats as the last results trickled in

  • Study: news deprivation is a threat to Swiss democracy









>>>> this is 4th private credit collapse in two months, and this one shows exactly why institutional lenders shouldn't be trusted to verify their own collateral


>>> Either Chipotle has collapsed as a brand or young Americans are out of cash, or perhaps both, certainly another big warning, shares down 45pct YTD..












 
 
 

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