Overnight : heavy losses in Chinese markets, AUD, disappointment over lack of stimulus weighing on sentiment, chip stocks softer on U.S ordering TSMC to stop providing Chinese clients, ECB's Stournaras & Rehn were pretty dovish, BTC 90K, USD stays firmer vs EURO, CNH, AUD, EU equity markets softer after Asia, U.S pausing (6K gamma)
Dogecoin is now more valuable than 94% of companies in the S&P 500
Polish PM to meet French, UK, NATO leaders to discuss Ukraine
To put things into perspective: The S&P 500 has closed at an ATH 50 times this year. This puts 2024 well above the long-term average of 18 ATHs per year, although it is still far from a record. (via Apollo)
ECB's Rehn dovish : The direction of our policy moves is clear, Stournaras: Trump’s election to adversely affect European economy if he implements campaign promises
Brussels to free up billions of euros for defence and security from EU budget, The policy shift would apply to about a third of the bloc’s common budget, or some €392bn from 2021 to 2027, money that is aimed at reducing economic inequality between EU countries
Trump expected to tap Marco Rubio for secretary of state, UKR hawk, and Mike Walz National Security, both have a tough stance on China
Mind the gap: what it takes to finance a greener future/ECB
BofA sees biggest investor sentiment shifts post-US election in latest Fund Manager Survey. Global growth expectations leap from -10% in Oct to 23%, highest since Jul'21; US growth expectations jump from -22% to 28%. Global inflation expectations flip from -44% in Oct to 10%, 1st time since Aug'21. Surge in investors OW US stocks (from 10% to 29%, highest since Aug'13), OW small vs large (6% to 35%).
Nvidia's total value, $3.65 trillion, is within a trillion dollars of the total value of Japan's Nikkei 225 Index, which itself is valued at $4.65tn. This is no small feat, as Japan is the second-largest stock market in the MSCI All Country World Index (ACWI), that is a pretty insane
SoftBank posts blowout quarterly gains at Vision Fund tech arm
German lawmakers reportedly near agreement for early election in February
President Trump can close the US Department of Education. Here’s how stream lining government
Michael Pettis on X: "1/10 "“The US trade deficit is a sign of strength of America because it can only prosper with the dollar,” said former WTO chief Pascal Lamy." In fact the idea that the US can "only prosper" with the dollar is near-total nonsense. https://t.co/AtNOIxBE9T via @economics" / X
Villa Vie offers 4-year cruise to escape Donald Trump's presidency seems for real..
Won't be cheap!!
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