SPX500 run : ''once in a life time spectacular run last 3 to 4months'', unless we go back pre mid 60's. HSI down 2% in response to China's annual National People's Congress, muted reaction to the 5% GDP target. Powell's testimony key (will probably want more good news on inflation, patience required?) and US job report later on, with UK budget and ECB meeting in between >>> Often talked about Mag 7 has been more like Mag 4 YTD (less TSLA, GOOGLE and APPL ) and a lot of GOLD 'break up' calls now... (XAG and XPT should be in there soon too)
"Chinese local governments are pivoting from a reliance on property investment to developing hubs for cutting-edge industries after more than half of the Chinese mainland’s provincial-level regions missed their GDP targets for 2023." >>> local rates/yields 10y lows (3pct deficit target same as 2023, over 7% on defense, planning to export more stuff, which the RoW might not want or need..)
TCJA“.. the evidence is in, and the Tax Cut and job acts looks set to be remembered as an outstanding fiscal disaster. By 2027, it will have cost almost $2 trillion, while failing to deliver the promised benefits.”
France pushes EU for financing plan to drive Defense Spending >>>> EU defense, war bonds are coming very soon, only a question of time and size
EQT said on Monday it would curtail nearly 1 billion cubic feet (bcf) per day of natural gas production starting late February due to the current low price environment
A Greenland start-up is being accused of doing titanic damage to the environment by shipping ice from glaciers over 100,000 years old to be used in cocktails served at high-priced bars in Dubai
Harvard endowment's liquidities/Ackman's thread
BlackRock spot Bitcoin ETF reaches over $10 billion in AUM
Everyone seems to be running out of reasons to be negative — even well-known worrier Nouriel Roubini
Ships entering Yemeni waters must obtain permit, Houthi minister says
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion. “Little wonder ‘debt debasement’ trades closing in on all-time highs''
Michael Pettis on X: "1/7 By posing local-government investment in manufacturing as the alternative to property investment, this article suggests the problem: neither form of investment is about economic sustainability, and both forms are about achieving politically determined GDP growth targets." / X (twitter.com)
Apple just announced the M3 MacBook Air — how to preorder now (yahoo.com) shareholders not impressed --- Apple China iPhone sales plunge 24% as Huawei's popularity surges (msn.com)
It usually takes a while between increase of insider selling and 'peak markets' - but insider selling sure is quite prominent these days, Bezos $8.5bn, Waltons $11bn+, Zuckerger, Dimon, and many others
Bill Ackman on X: "The substantial majority of the @Harvard endowment is invested in illiquid assets, principally private equity, real estate, and venture capital. Not reflected on the balance sheet are commitments to new funds of the same type. Like most endowments, @Harvard models expectations…" / X (twitter.com)
Is this really necessary...
PLAT-XPT - cost of production around $800-900..
Comments