OPEC+ announces surprise oil cuts, while U.S. calls the move inadvisable."Saudi officials are at pains to say they don’t have a particular price target. But from their actions it’s clear Riyadh wants to keep Brent crude as close to $100 a barrel as it can."
CS : Credit Suisse Generalversammlung could/should be pretty lively tomorrow, live-Webcast access below in link.. >>> in the week ahead we also get RBA to hike a final 25bps tomorrow (to.385%), as per current expectations, same for RBNZ. Trump will be arrested tomorrow and note U.S NFP in on Good Friday (markets closed)
Swiss prosecutor opens probe into Credit Suisse takeover. Investigation will examine potential breaches of criminal law by officials, regulators and bank executives. Good news in inflation front : Consumer prices increased last month by 2.9% year on year, down from 3.4% in February, marking the 13th month in succession that price increases have exceeded the SNB's 0-2% goal and Switzerland March manufacturing PMI 47.0 vs 48.9 expected
Can Central Banks really achieve a) price stability b) maintain economic growth and c) have financial stability at the same time?... would love to believe they can, but I suspect that's ''mission impossible''
Tesla made a record number of deliveries in the first quarter. Globally, the EV maker near00K cars, an increase that came after it cut prices in January to boost demand
Sam Altman: OpenAI CEO on GPT-4, ChatGPT, and the future of AI / Lex Fridman Podcast
Scientists find deepest fish ever recorded at 8,300 metres underwater near Japan
This move signals Saudi Arabia “will seek to short circuit further macro sell-offs & that Jay Powell is not the only central banker that matters…Washington & Riyadh simply have different price targets for their key policy initiatives:” RBC’s Helima Croft
Trump clearly not been quiet about his arrest, he camera is on him and he loves it
Whopping 82% of Berlin’s voters refused to support 2030 climate neutrality
Markets can debate all they want whether FED and other CB moves in March were QE or not, the fact is Nasdaq 100 and the combined balance sheet of the Fed, ECB, and Bank of Japan moved in tandem..
Markets :
Crude prices jump about 10% on OPEC+ move overnight, prices still up about 5% or so, was inevitable.. and can almost be sure the U.S SPR has not been refilled yet..
SPX continues to trade trapped inside the big 3850/4200 range. Lot of money has been lost by people trying to push momentum both ways. Short term resistance at 4100, support at 4000
Bonds on the backfoot as we start Q2, rising in tandem with crude prices
USD remains soft, CHF should weaken (inflation lower and safe haven bid weakened by recent events), but technically, USD sub 0.9150 CHF is clearly bearish USD (maybe best via EURCHF or even GBPCHF). FXEMG doing ok, bar few usual suspects. JPY focus in Q2 with possible YCC move (BoJ should NOT wait till yield shit 50bps again..)
Julius Baer CEO warns Switzerland not to jeopardise status as banker to super-rich | Financial Times (ft.com) >>> Rickenbacher said that the Swiss financial marketplace was an “outstanding ecosystem” but was being tested. “It is obvious that Swiss banks being in the international press is adding to this pressure and we as Swiss bankers have to respond.”
Sam Altman: OpenAI CEO on GPT-4, ChatGPT, and the Future of AI | Lex Fridman Podcast #367 - YouTube >>> nearly through it...well worth a listen!!..they talk about it all , excitement, share programmers and geeks and it's terrifying prospects of AI more broadly speaking..
Why ?..we should stop interfering
Sacre bleu !
Whopping 82% Of Berlin’s Voters Refused To Support 2030 Climate Neutrality
SPX500 - choppy big range - a lot more going on underneath though, NQ also benefited greatly from larger Central Bank balance-sheet, whether its QE or not, never mind
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