- Sep 13, 2023
- 4 min read

U.S vs Google / UAW:46% pay hike over 4 years / PBOC limits / Crude up / U.S CPI up next

Google began a marathon battle in a federal court on Tuesday to fight accusations from the US government that it acted unlawfully to become the world's preeminent search engine, this will go on for a while..
McCarthy gambles on Biden impeachment probe as shutdown looms >>> politics at its worse, bringing media focus on to us, so that we all forget about Trump and the real issues on macro side, inflation, slow growth, debt etc, Trump being impeached twice..
European Central Bank is set for hawkish pause as the economy turns south
California fast food workers to get $20 minimum wage under new deal between labor and the industry
With UAW strike looming, Biden must choose between his union allies and US economy >>> The UAW is demanding a 46% pay hike over four years, a 32-hour work week (for full pay), the end of a tiered pay system for newer workers, as well as the return of pensions and retiree health care. It’s a big ask, and the union doesn’t seem interested in giving in on any of its demands...when it starts at one end it'll spread everywhere, everyone will want a big pay increase !
Singapore Billion Dollar money laundering case exposes gaps in defenses and Singapore says laundering probe wasn’t opened on China’s request.. really?..
PBOC to tighten scrutiny on bulk dollar purchases of $50 million and above >>> biggest economy in the world ?...something's very wrong out there if they have to do it....(cap controls basically, lots of the big money already left long time ago towards Sing- which now has its own issues..)
The Chinese property sector has emerged as the biggest threat to the stability of the global economy, fuelling a “dramatic shift” out of emerging market stocks and into the US, according to a closely watched investor survey
Sen. Joe Manchin: Government debt is alarming and our responsibility is to get financial house in order >> how ? cut spending or raise taxes, or both ? not very likely from any side going into an election year, so inflate your way out of trouble!
Oil's rally is making some analysts worried. They've seen this movie before and it can be highly disruptive, from pushing Fed policy tighter to limiting discretionary spending. “OPEC has to consider the effect on the macro market.”
“I think the question is not only should Elon Musk have this much power, but how come he got this much power?” Isaacson
EC Pres. von der Leyen: Global markets are flooded by cheaper Chinese electric cars
“We pursue a zero-tolerance strategy towards black money," declared Swiss Bankers Association CEO Roman Studer
Lithium : $1.5 Trillion Dollars Worth Of 'White Gold' Found In Supervolcano On Nevada-Oregon Border
U.S judge denies FTX founder Sam Bankman-Fried's request to be realesed from jail pending trial >>> note : ''poor Wifi is not a valid reason for early release'

Markets :

WTI crude's 50dma crossing above the 200dma, which is pretty rare and bullish momentum
The percentage of NASDAQ stocks trading above their respective 200dma is 33% (only..? usual conclusion about breath, magnificent 7's etc). NVDA which everyone follows, dipped below 50dma for 3rd straight month >>> Investors (ETF's..) are hiding out in fewer and fewer names
Equity market grinding lower, 10's UST 4.30 again, crude pushing infl exp higher, stagflation signs, debt etc
USDollar firm(er) although USDCNH off highs, not by much, GBP takes another leg lower (UK growth down 0.5% in July - to be probably revised once strike finish..), CABLE through 1.2450 area signals more downside to come
U.S CPI up next (core expected to drift down from 4.7 to 4.3%) and ECB tom (hawkish pause)