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Dec 23, 20223 min read

EURCHF / TSLA lower again / SBF bailed / Marry Xmas to you and yours Xxxx




  • US economy grew 3.2% in Q3, an upgrade from earlier estimate, yields up a bit, equity were lower (QQQ lead lower-TSLA got chopped again, not convinced by Elon's words..since the peak of the 'ultra long duration bubble' , Tesla has held up better than many or most other peers, big risk is #TSLA will be the final bastion to fall), USD slightly higher, usual function reaction on the day

  • Elon Musk said Thursday he does not plan to sell any more shares of Tesla for at least the next two years..why should shareholders trust him? he's broken promises many time before

  • Benjamin Netanyahu has officially informed Israeli President Isaac Herzog that he has successfully formed a government, his Likud party said Wednesday

  • Nigeria’s central bank has substantially increased limits it had set for weekly cash withdrawals, loosening restrictions it had put in place to curb the use of cash.

  • Individuals will now be allowed to withdraw up to 500,000 Nigerian naira ($1,122) a week, up from a 100,000 ($225) limit set on Dec 6

  • Japan's core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981 - it's also happening in JPN..when, not if, do we go to 75bps

  • The founder of collapsed cryptocurrency business #FTX has been bailed for $250m (£208m) after appearing in court charged with one of the biggest frauds in US history - who funded the bail?

  • Russia Says It May Cut Daily Oil Output By 700,000 Barrels

 

Markets :

-Same old range on SPX500, duration, #TSLA, ARKK and the likes hit again, no respite there

-USD not really managing any meaningful rally on stronger data days, #EURCHF see chart below, could be interesting into 2023 with 'BUBA' in charge of ECB now

-Liquidities coming at a premium, as per usual, at this time of the year, whishing you and yours a Merry Christmas

 

30 minutes podcast - cup of tea - feet up and listen




yeps, same here and for many of you!


The U.S Senate also authorized confiscation of Russian assets


Alameda’s Caroline Ellison and FTX’s Gary Wang pleaded guilty of fraud (qz.com) Sam Bankman-Fried's close associates are cooperating with US authorities after reaching plea agreements, why let them out on bail?.. and who paid for the 250mio usd bail ?...


Musk only cares about Elon..




‘Global Britain’ must accept that the world’s trading system has changed | Business | The Times Brexiteers used to claim that the biggest Brexit opportunity was a free trade deal with America. Instead Brexiteer ministers are reduced to impotently raging at American protectionism/FT


herd immunity is what is required/hoped for !


Investing in an era of higher interest rates and scarcer capital | The Economist >>> that's what we been doing successfully for a while for our clients



EURCHF - '''could'' get interesting above 0.9925/50+ into year-end and 2023.. particularly with 'BUBA' in charge of ECB now..the hawks are in charge - end of




All best from Team PVM

Steph



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