Week ahead : April PPI and Powell speech (Tuesday), April CPI and retail sales (Wed), Phily Fed Thursday and yes, no less than 12 Fed speakers this week.. US & China trade relations in check, UK GDP was stronger than expected last week, excess savings fro Covid times all but dried out now in the U.S (Walmart earnings for a good sample of where we stan don this)
The likes of GS sees April headline CPI +0.37% m/m, core +0.28% +3.42% YoY, +3.61% YoY And they are quite bearish Retail Sales
Data center power demand is set to more than double from 2023 levels by 2028, which (confirms) adds to the bullish thesis for copper, utilities, and of course all of the components that go into data centers as they scale up
BoJ announces smaller JGB purchase operation for the first time since ending YCC
China fires starting gun on $140bn debt sale to boost economy. PBoC and finance ministry firms up plans for long-dated bonds to support investment
Russia finds huge oil and gas reserves in British Antarctic territory
FT - Can Europe’s economy ever hope to rival the US again?
Trump’s Plans for the Fed Would Revive 1970s-Style Inflation
Japan's 30-year government bond yield rises to 2.03%, the highest since 2011
Hang Seng Index just topped 19,000 again. Rally +27% from the low. And even after that gain, index still trading below 10x earnings #HSI
Clients of a Scottish law firm that went bust, leaving tens of thousands of families in legal limbo, fear they are at the centre of “the next Post Office” scandal
Mount Everest saw two record-breaking climbs on Sunday with a Nepali sherpa making the most ever summits and a British climber setting the record for a foreigner
Blinken says US has not seen Israeli plans to protect civilians, post-war plans for Gaza
Gold as a strategic asset
Today’s longest turbine blades have become too big to be delivered to inland wind farms. They can be taken only by ship to offshore sites, where building costs are far higher
Von der Leyen struggling for majority in European Parliament
Can Europe’s economy ever hope to rival the US again? (ft.com) A reminder that once you strip out population and dollar strength (which doesn't impact living standards in Europe), countries in the EU are converging with the US, not falling behind
Antony Blinken says US has not seen Israeli plans to protect civilians, post-war plans for Gaza (thehill.com)
Trump’s Plans for the Fed Would Revive 1970s-Style Inflation by Maurice Obstfeld - Project Syndicate (project-syndicate.org)
What makes gold a strategic asset?
Gold has a key role as a strategic long-term investment and as a mainstay allocation in a well-diversified portfolio. Investors have been able to recognise much of gold’s value over time by maintaining a long-term allocation and taking advantage of its safe-haven status during periods of economic uncertainty.
Arnaud Bertrand on X: "Let's see... US car companies sold millions of cars in China in 2023 (2.1mn cars for GM https://t.co/AioSsphawj, over 600k cars for Tesla https://t.co/CEhuT6ZRs7, over 400k cars for Ford https://t.co/zgIXhzIPey, etc.) but there "are currently no Chinese-branded passenger vehicles…" / X (twitter.com) makes you wonder!
Ministry of Defence 🇬🇧 on X: "Latest Defence Intelligence update on the situation in Ukraine – 13 May 2024. Find out more about Defence Intelligence's use of language: https://t.co/1NsPGy2eF6 #StandWithUkraine 🇺🇦 https://t.co/H2eizk3lwS" / X (twitter.com)
Law firm’s collapse ‘is the next Post Office Scandal’ (thetimes.co.uk) ...don't put your home in a trust...to avoid inheritance tax, they often don't work..and leave you in a mess
Surely not!
Anything related to #URA has not even began (LONG.term), 2011 levels were pre Hiroshima
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