Q3 earnings downgrades significant-JPM / MOVE index 1y high / China will do more / KOF softer / UK budget

Q3 earnings downgrades have been significant, JPMorgan says >>> when growth slows, you buy value
Citadel CEO Ken Griffin expects the race to the White House will be close, but Donald Trump will ultimately win. It will be tight, it will come down to 4-5 of the smaller states, Wisconsin has been mentioned as key, sweep either side unlikely (as per polls). US Labor Market: clearly cooling (JOLTS)
#MOVE index (bond vols) is on 1y highs ahead of US election
The BIS is debating whether to shut down a pilot cross-border payments platform after Russia’s President Vladimir Putin identified the underlying technology as a tool to circumvent sanctions and potentially undermine the dollar’s dominance in the global financial system
FT-Why Europe’s car crisis is mostly made in China, ''VW lost the tech race and china started top export deflation...''
Signs of revolt against Ishiba emerging within LDP
“We must implement all existing and new policies, make effective efforts in the last two months, and strive to achieve the annual economic and social development goals for the year,” Xi Jinping told a study session for senior party officials on Tuesday."
Swiss KOF indicator loses 5pts in October to 99.5 (Sep : 104.5), SNB cuts again soon
The 10y UST yields at 4.34% - long-end is up 100bps, 30y mortgage rate now 7.10%, bond vigilantes told Fed they made a big mistake..data has remained strong, AND issuing tons of Tbills earlier in year (to not upset long-end) IS inflationary - bad plan from Janet.. what now? issue more TBills?... >>> update : markets pricing in about 30bps of ECB cuts in Dec, slightly down
SPX 5850/5925 area resistance still, bears will need a break sub 5725 area to see forced sellers coming in

Q3 earnings downgrades have been significant, JPMorgan says By Investing.com

Budget 2024: What is it and how does it affect me? - BBC Newsround

The Return of Bond Vigilantes - Paradigm Shift (fliphtml5.com )

The, as always, excellent Steen, shares his thoughts, well worth a read, get in touch with him!

Convexity Maven - 2024 Election Special Bond traders "believe the range of outcomes for this general election is much wider than all other elections for which we have records (1988)...The market is pricing an 18bps rate movement on the days immediately after the election:" Harley Bassman

SNB Might Need to Cut Interest Rates Again, Schlegel Says (yahoo.com )

Why Europe’s car crisis is mostly made in China (ft.com )

Xi Jinping urges Chinese officials to make all-out effort to hit annual growth targets | South China Morning Post (scmp.com )

Signs of revolt against Ishiba emerging within LDP - The Japan Times

BIS Debates Ending Project Eyed by Putin to Undermine Dollar - SWI swissinfo.ch

UBS earnings Q3 2024 (cnbc.com ) all banks had good earnings (expected..) HSBC and StanChart: Record Wealth Income Fuels Profit Growth (finews.asia )

Alphabet's AI investments boost cloud sales, lifts maturing ad business | Reuters

Volkswagen Q3 2024 results (cnbc.com )

AMD earnings report Q3 2024 (cnbc.com ) AI not saving the day after all

Inflation is down, but the middle class remains under pressure (cnbc.com )

Got to stop printing an pumping >>> reduce FED balance-sheet to slow things/demand down, it will weaken stock market but one can't have it both ways

Steve Bannon released from prison - POLITICO