WEF : Lagarde, Bostic (in the U.S though), SNB's Jordan up later again (will he confirm yesterday's comments that weakened CHF?), Pakistan PM said he might leave early now (airstrikes with Iran)
Lagarde has blamed markets for holding up the ECB’s efforts to tame inflation. Bets on aggressive rate cuts are a distraction that complicates the battle to control runaway price rises, the European Central Bank president warned
OpenAI’s Sam Altman says human-level AI is coming but will change world much less than we think
Pakistan (WSJ): Carried out airstrikes in Iranian territory killing Pakistani militants there; the action was tit-for-tat retaliation after Iran hit a Jihadi group in Pakistan on Tuesday
Tesla slashed car prices again — this time in Europe. Consumers around the world increasingly do not want to pay full price for Teslas, once the leader of the EV market
The Hang Seng Index's P/E is now below the Nasdaq's P/B. Those two valuation ratios should not even be anywhere close one another/Thread
Google CEO tells employees to expect more job cuts this year
Markets :
Yields up a little again yesterday, ont eh back of UK's inflation data and US retail sales, UST 10's 4.10-4.20 big level on way up, if we go through this, we are in for more risk-off into month-end, further correcting moves from Nov >>> Fed March cut, now down to 50% probability
USDollar follows bonds, and eventually so do equities, broadly speaking >>> January tend to correct moves from Q4, particularly when too consensus and now Central Bank's trying to walk some of those early rate cuts priced in
SPX500 4800 double top, corrective activity down to key 4'650 key med-term levels
#EURCHF #GBPCHF #USDCHF on their way up, correction higher, gone too far in 2023, overdone, now the CB probably ok with it, given low inflation in CH, decent probabilities looking at actual levels, CB stance, inflation and a decent carry particularly vs USD if you are a $ bull
Israel's president and the OpenAI CEO will take part in Davos on Day 3 of the World Economic Forum (yahoo.com)
Retail sales December 2023: Sales rose 0.6% in December, topping expectations for holiday (cnbc.com)
David Ingles on X: "You've probably heard Chinese stocks are cheap. This chart takes that to a whole new level. The Hang Seng Index's P/E is now below the Nasdaq's P/B. Those two valuation ratios should not even be anywhere close one another. Pretty wild. https://t.co/3jjYksSdOw" / X (twitter.com)
Good for consumers, not #TSLA share price
Not very cheery I know
Bottom line, many of these smaller companies cannot borrow at these rates, thus will issue equity and dilute shareholders, this stock, just an example, is down 80pct form the highs, small caps etc
Bye bye Richie!
HSI - Hang Seng - are you feeling brave ?
