US Treasury Department cuts Jan-Mar borrowing estimate to $760bn from $816bn - and estimates $202 bn net borrowing For Apr-Jun (pushed yields and USD a little lower, risk higher) >>> today's 'pre-market release on composition' will be more important for the UST curve
The ECB should change three bad habits
Ray Dalio commentary - 2024: A pivotal year on the brink
Hungary accuses EU of blackmail over Ukraine aid standoff
"Stagflation, increased commodity costs, labor costs and benefits to retain talented staff, political upheaval, border failure and dysfunction at the regulatory level [are issues affecting our business]." - Dallas Fed respondent
China's 10year yields fall to a 2 decade low on rate cut hopes/deflationary signs
Sen. Elizabeth Warren pushes Fed Chair Powell to cut ‘astronomical’ rates, ease housing pressure
Mounting foreign turmoil threatens to overshadow Biden’s campaign
JPMorgan’s Kolanovic Sees Tech Earnings Testing Rich Valuations “A few bad inflation prints would likely upset both bond and equity markets, as risk markets could again start pricing a higher probability of ‘hard landing” (still bearish..)
Italy’s privacy regulator says OpenAI's ChatGPT tool and techniques used to gather users’ data are in breach of the country’s privacy law
The BofA Bull & Bear Indicator surged "from 5.5 to 6.0, highest since Jul'21, on strong inflows to stocks, strong equity market breadth (BofA Breadth Rule up to 44% from 7%) & strong credit technicals." - BofA Hartnett
Britain's 'most capable PM'? Starmer opens up record 13-point lead over Sunak in new Ipsos poll. Labour on huge overall lead of 49%-27% over Tories
Ryanair's CEO, a huge Boeing customer and hater, thinks the planes are fine
Fun fact : Nasdaq’s price-to-book ratio is now larger than Chinese stocks’ P/E multiple
Markets >>> all about the Mag 5 starting to report today + FOMC tomorrow, BoE Thursday and NFP Friday >>> plenty of earnings, FOMC, geopolitics, month-end flows to cause spikes in volatility, consider optionality to trade/hedge
The ECB Should Change Three Bad Habits by Willem H. Buiter & Ebrahim Rahbari - Project Syndicate (project-syndicate.org) important read!
No kidding
Both sides finally agree! DUP agrees to end boycott of Northern Ireland government - BBC News
COPPER - unconvinced about China's effort-easing
EURJPY still on trend higher - short-term peak perhaps in short-term
