FED : ''dovish pivot okay'', Powell said 'The time has come for cuts', confirming rate cuts coming, not when and not by how much, data dependent etc (all this is with 100bps priced in for 2024 already), and SPX on ATH's, credit spread pretty much at record tight, inflation around 2.5% and employment levels considered at maximum for most of the last 50years >>> asset boom most likely (unless we move to a risk of a bigger slowdown) sacrificing government finance/debt, throwing out most of the 'normal' FED reaction function
BoJ's Ueda was slightly hawkish, could very well be another hike coming in Dec >>> #USDJPY remains a sell on any rallies
Arrest of Telegram founder/CEO (who has a multitude of citizenships) sparks debate about free speech and criminal activity online. UKR/RU (Durov's arrest-consequences , energy assets bombed again and again) & Middle East tensions remain as Israel and Hezbollah 'trade messages urging against escalation' after airstrike
The NVDA print is hyped as “the most important tech earnings in years”...(Dan Ives)
Investors are jittery. Few of the big tech companies have been able to demonstrate enormous demand from paying customers for AI-powered services, which raises the question of how long they’ll keep pouring money into the tech—most obviously, Nvidia’s chips
China slams U.S. for adding firms to export control list over alleged support for Russian military
US consumer serious delinquency rates (90+ days) in credit card debt have risen to 10.9%, the highest since 2011
Macron meets French party leaders to try to name a prime minister : what a mess
Nestle : a case of too many share buy backs near ATH's with higher debt
Powell’s speech at Jackson Hole was dovish, emphasizing cooling labor markets and downside risks. He did not weigh in on the pace or increment of rate cuts, insisting these decisions will depend on incoming data
Mike Zaccardi, CFA, CMT 🍖 on X: "GS sees Q2 GDP (s) at 2.5% July PCE +0.13% m/m, +2.52% y/y Core PCE +0.13% m/m, +2.64% y/y https://t.co/1xe2WaYxrC" / X
Nvidia second-quarter earnings are the biggest stock market event of the year, analyst says (qz.com)
After months on the back foot, Ukraine's forces invaded its invader, pulling off a spectacular counterpunch against Russia. Here's how it happened: Ten days that turned the tables on Russia (ft.com)
(1) Anton Gerashchenko on X: "After Telegram founder Pavel Durov was arrested, Russian social media share the following thoughts, rumors and panic moods: ◾️Allegedly, several days ago Durov asked for a meeting with Putin in Baku and was refused. ◾️Telegram is the main information network, communications https://t.co/uK3OZOePE1" / X
It's a messy affair !
Nestle CEO Mark Schneider steps down (qz.com) a great example of ridiculous sharebuybacks near all time highs + adding debts at the wrong time !!
EURUSD - could we be breaking up ?
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