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Writer's pictureStéphan

GS, JPM, Ally, BWM, VW warnings + Fed reduces cap requirements / BYD explosive growth / PLAT / Barnier / U.S CPI up next this afternoon




  • Last night, Trump was as bad as Biden was in first debate. Trump's point about immigrants eating people's pets really did it for me, Taylor Swift has more followers on social media than there are voters in the U.S. Harris might have won de debate last night, but unlikely to win Senate, yet anyway, so the campaign rages on for few more weeks! >>> initial market reaction, UST rally, JPY higher (BoJ too), risk hesitate, GOLD up, crypto down a bit >>> would watch out for for those U.S financial warnings together with car giants

  • The Fed backpedals and unveils a scaled-back proposal for bank capital requirements >>> is this why ?? JPM warns of recession (de facto kind of earnings downgrade), GS profit warning, ALLY warns of consumer defaults and few other banking stocks slid yesterday, BMW earlier in the day yesterday too

  • BP's market capitalization has now plunged to the same level as during the worst point of the 2010 Gulf of Mexico oil spill, around $85bn - pretty amazing

  • The Bank of Japan will continue to raise interest rates if inflation moves in line with its forecast, policymaker Junko Nakagawa said, signalling that last month's market rout has not derailed the bank's plan to hike borrowing costs steadily

  • BYD raised its annual sales target, reported Morgan Stanley in a note dated September 9. The company’s previous guidance for this year was set at 3.6 million units. BYD recently increased its 2024 annual sales target to 4 million units >>> explosive growth

  • XPT :  WPIC forecasts 2024 shortfall of more than 1 million ounces

  • Barnier: “I regret the UK left. I still don’t understand it, neither in terms of British interests, nor European It’s lose-lose. Nobody, not even Farage, [has been able to show any] added value of Brexit The door is open. The UK knows the specifications & knows the conditions”

  • If h says so...Elon Musk said today that America is going bankrupt extremely quickly

  • Spain’s Sánchez calls on EU to ‘reconsider’ Chinese EV tariffs

  • The NFIB Small Business Optimism Index fell by 2.5 points in August to 91.2, erasing all of July’s gain


 



















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