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Writer's pictureStéphan
Oct 163 min read

#IEA : power demand ⏫ / UK inflation down to 1.7% / Trump's interview / Credit spreads lowest since 2021



  • U.S election polls : it is literally 50/50

  • In its annual World Energy Outlook, IEA heralds the arrival of the "Age of Electricity" (following the Age of Oil and the Age of Coal). It sees power demand growing faster than it previously anticipated, while fossil fuel consumption declines faster.

  • UK inflation down, will support early/further rate cut(s)

  • AMSL : the first major semiconductor company to release results for Q3 and one of the most valuable technology companies in Europe, had a bit of a shocker, weak guidance

  • Brian Moynihan, BofA CEO, discusses the state of the post-pandemic consumer/Video

  • Credit spreads are now at their lowest levels since both market peaks in 2021 and during the housing bubble - pretty amazing really

  • Boooeing wants to sell new stock to raise cash as a costly strike drags on, amazing headline really, i need cash to get me through the strike, other major names also out with lower earnings, LVMH, Pepsi, United Health and AMSL

  • One of the best headline last night ? : Trump on Fed chair: "It's the greatest job in government. You show up to the office once a month and you say, 'Let's see, flip a coin,' and everybody talks about you like you're a God."

  • US households now hold 48% of their assets in equities, the highest since the 2000 Dot-Com bubble peak

  • BOJ's Adachi says conditions are already in place to start normalising policy

  • Germany's where airlines are pulling back due to high costs


 





Eurowings is cutting 1,000 flights to and from Hamburg, while Ryanair is reducing its operations in Germany by 60%, completely dropping routes to Dortmund, Dresden, and Leipzig. The main reason is the increase in air traffic taxes introduced by the govt. Since May, the tax per ticket has risen by about 20%, now ranging from at least €15.53 to as much as €70.83, depending on the flight route










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