UBS says it has completed the takeover of stricken rival Credit Suisse
Weak ahead, U.S CPI ahead of FOMC on Wednesday, ECB, SNB all likely to hike 25bps, though the 'language' from Powell will be key as usual, BoJ could surprise on Friday, BoE is next week, they will need to hike too
China has had a spy base in Cuba for years, which it last expanded in 2019, a US official familiar said, after the White House downplayed an earlier WSJ report on the facility
OpenAI CEO says 'optimistic' on global AI coordination
Portugal just launched a ‘government-funded’ 4-day workweek trial
Trump’s hoarding of official secrets is both breathtakingly careless and utterly calculate
Boris Johnson’s Rise and Fall, the disgraced former Prime Minister’s long career at the top of British politics should be a matter of national shame
'Companies are sitting on ~$200 billion of excess inventory" - MS, one of the reasons Mike WIlson remains bearish
Another milestone. In May, wind and solar produced more electricity in the EU than fossil fuels – for the first time. 'Europe’s electricity transition has hit hyperdrive. Clean power keeps smashing record after record.'
Markets :
SPX500 is now '20% off lows, and thus in a bull market', they all saying now, few other parts have caught up last 2weeks, Russell no long lagging etc, NQ near highs, DAX 16K+ all priced to near perfection? breath improved last 2weeks, but there is always a but..
USDollar mixed, markets wants to see-talk-think of a pause after this 'final' hike, whether it comes now or in July, thus some USD weakness ahead quite possible..
Crude sub $70 again
Rates are in a higher plateau for longer, still remains our overall view, a pause does not equal a cut in the very near future
In China, as this article notes, low inflation mainly indicates Beijing's great difficulty in boosting domestic demand. It isn't really a good thing.
Trump’s hoarding of official secrets is both breathtakingly careless and utterly calculated
Manchester City’s players & coaching team deserve huge credit for extraordinary success. So too do their recruitment team. But if now is not the time to question the how behind it, then when is? A piece on how we are all supposed to make sense of this.
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