Bundesbank may need recapitalisation to cover bond-buying losses and BIS admit (in their report) that the pandemic spending was basically way too big and too long-lasting >>> so now all folks are hit through higher inflation and rates and pay the price for their irresponsible actions... accountability ? ...sadly suspect it will not be any Central Bank's or politician's responsibility....
Russia : Prigozhin's coup may have failed. But it showed Putin's war has failed too – creating the biggest crisis of his rule. Russia uprising updates from June 24: Wagner agrees deal to end armed uprising, Warlord Prigozhin to leave Russia for Belarus >> maybe we reaching some sort of conclusion, maybe the situation deteriorates, depending on who you listen to..
A law firm was fined $5,000 after one of its lawyers used ChatGPT to help research a court brief. The document included references to some cases and opinions that didn't exist... >>>>> The lawyer said he had "no idea" ChatGPT could fabricate information
Danone and Kellogg are among 75 consumer goods companies that French authorities have asked to cut prices, according to a list seen by Reuters that sources say the government is using for the initiative
German house prices fall by record 6.8% as higher mortgage costs deter buyers
BoE : 'The balance of supply and demand in the labour market has got to be made looser.' 'It will be painful, but the Bank will have to carry on increasing interest rates to bring this about'
BoJ : Japan Chief Cabinet Secretary Matsuno: Important For FX to move stably reflecting econ fundamentals - ''Closely watching''FX moves with high sense of urgency. A Bank of Japan policymaker said that the central bank should review its yield cap program “at an early stage,” noting its high costs, a summary of opinions from a June policy meeting showed Monday
FED : markets continue to digest Powell's testimony that signaled more hikes into year-end, though Bostic pushed back against the idea saying he would hold rates at current levels for long into next year
Bitcoin hits more than 1-year high amid BlackRock ETF excitement
German business sentiment points to likelihood of longer recession.The Ifo institute said its business climate index fell to 88.5 this month from 91.5 in May
Sweden will have an entire city made of wood in 2027
Die Liquiditätskrise bei der Credit Suisse hat sogar die Nationalbank überrascht. Für sein langes Zusehen gerät nun SNB-Präsident Thomas Jordan in die Kritik
TRY hits a new low near $26, only the Argentine Peso had a more torrid year, down 30% YTD
Markets :
Equity markets 'toppy' since OpEx Friday 10days ago, internals weak, S&P7 slightly off top, going to be a long summer
Bond curve volatile still, higher for longer, inversions etc
USDollar mixed, CROSSJPY's : looking for sign of a peaking process, CHFJPY opportunity to short up here (long-term), looks way overdone. USDCHF struggling to regain .9000+, ecent rallies, USDCNH 7.24 now ..AUDUSD struggling still to hold on to any rallies
Commods a little higher, crude a little higher on Russia, after a torrid week last week
Broadly speaking stuff like BUBA news, and higher for longer rates, are slowly but surely beginning to weigh on consumer sentiment and spending habits...going to be a long stretch till rates actually come off, bad credit #HYG should come under pressure next over next few months, as rates stay high for longer. PMI in Europe were pretty weak last week, including French services PMI.
Excellent podcast as usual - nice 17mins roundup
They admit that with 'the benefit of insight'..really..??!... that the emergency monetary and fiscal spending during pandemic was way too big basically!''...shocking
And now folks pay the price for their irresponsible actions ? accountability ?
‘A huge humiliation’: failed putsch exposes deep flaws in Putin’s regime | Financial Times (ft.com) the pro's and con's of it all (and consequences) won't be known for a while
German house prices fall by record 6.8% as higher mortgage costs deter buyers | Financial Times (ft.com) good! new generation will get better prices
France has nearly vanquished inflation crisis of the last year, but will face stronger price pressure in the years to come, Finance Minister Bruno Le Maire says L'inflation ne reviendra pas aux niveaux « très faibles » d'avant la pandémie selon Bruno Le Maire (latribune.fr)
crazy world of crazy propaganda and fake news
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