Bank of America’s May Global Fund Manager Survey shows fund managers’ average cash levels of 4.0%, down from 4.2% the previous month and representing a 3-year low. Allocation to equities increased another 7ppt to net 41% overweight. Bond allocation rose 7ppt to net -6% underweight, ''The soft-landing scenario is unfolding. .. we think a [ten-year yield] decline from 4.35% to the 3.25% area in the next 6-12 months is a good possibility — and likely non-consensus ..”
Fed officials overall 'rates should stay high for longer', if/when the fact change, the FED will be quick to react though >> asymmetric FED!
Saxo : U.S NatGas trades 16% up on the month
Active signs have appeared following the measures introduced by cities across China, as data revealed by real estate organizations showed (intervening as things look very ugly-classic) Chinese cities will higher #home inventory can purchase unsold home at reasonable prices to be used for affordable housing, said Chinese Vice Premier He Lifeng. China's factories fire up but consumer slump persists
ECB's Schnabel calls for caution in rate cuts beyond June
Bernanke/Blanchard: the inflation surge was primarily driven by a series of supply disruptions and increases in the relative price of energy and food. In stark difference to the 1970s, shocks did not trigger a wage price spiral and the inflationary effects were not persistent
WELLS: “.. $TSLA is likely no longer the biggest disruptive threat to autos. Chinese manufacturing has historically disrupted industries like steel & solar & signs point to autos being next.”
EU under pressure after US levies tariffs on Chinese goods Brussels scrambles to avoid being dragged into trade war between Washington and Beijing
FXcorner, GBPCHF quietly having a go at major resistance around 1.1500 area, CROSSJPY's having a push higher (soft JPN GDP this week), USD mixed and all within relatively small ranges still >>> weaker U.S macro though and market will be ''relatively quick to buy UST's and sell USDollars'' as we saw last couple of weeks
Philipp Heimberger on X: "Bernanke/Blanchard: the inflation surge was primarily driven by a series of supply disruptions and increases in the relative price of energy and food. In stark difference to the 1970s, shocks did not trigger a wage price spiral and the inflationary effects were not persistent. https://t.co/THdOZXva1a" / X
EU under pressure after US levies tariffs on Chinese goods The EUs own perception that they have little leverage is quite something "the Commission is struggling to protect domestic green technology industries from cheap Chinese competitors, with EU officials stressing that Brussels lacks the powers to compete with Washington and Beijing."
Ole S Hansen on X: "US #natgas trades up 16% on the month to $2.5, the highest level since January. Supported by lower gas production and increased LNG flows to Freeport following a recent dip. Gas inventories rose 70bcf last week (EIA) vs a 5-yr avg. of 90 bcf. Total stocks at 2633 bcf reduced the https://t.co/wxHIrftz4a" / X
Putin And Xi Have Denied The Obvious With A Strange Take On Russia's Relationship With China (msn.com)
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