ECB hawk Schnabel scraps more rate hikes after 'remarkable' inflation drop >>> validating market's recent moves and fwd pricing of cuts in 2024 ( some 1.25% of cuts priced in for 2024 already...they are just coming back to where markets are..)
The New York Fed's measure of underlying inflation (the "multivariate core trend" rate) ticked down to 2.6% in October from 2.9% in Sept, This was the lowest reading since January 2021
Swiss bank Banque Pictet admits hiding $5.6 billion of Americans’ money from IRS
UK announces rise in salary threshold for foreign workers’ visas
Airbus might need state backing for new aircraft programme to replace A320, chief says, might bring back competitive/trade issues vs Boeing
The Fed's balance sheet is back on April 2021 lows, down $1.15trn from peak in April 2022. Another $3.6trn of QT is required to unwind he massive 'covid-QE between march 2020 to 2022)
Moody’s cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second largest economy
In 2020, BlackRock chief executive Larry Fink put the world’s largest money manager squarely behind the cause of purpose-driven investing. Three years later, BlackRock is still betting big on the transition to a lower-carbon economy, but the $9.1tn money manager’s emphasis when it talks about sustainability and social issues has changed
Zuckerberg and NVDA insiders selling a few shares
U.S ISM Manufacturing PMI has been below 50 (in contraction) for 13 straight months, the longest down streak since 2008-09
Algorithms are biased. But humans are a lot more biased
Elon Musk: Disney is "World's biggest example of go woke, go broke"
Markets :
Big Techs, Magnificent 7, no-one will dare calling a top last week, but..
Chinese Stocks have fallen to their lowest prices in 5 years and India's Stock Market Valuation hit $4 Trillion for the first time in history
Relatively quiet Equity markets, although some weakness in Nasdaq, big 7's seen over the last 5-6 trading days, whether this is insider or tax related selling or both! it is pretty key into year-end (those big stocks have had a Huuge rally in 2023)
USDollar - no real direction - CROSSJPY's slightly softer following forward rates
10's UST could drop to the key 4% area on a weak NFP Friday, after that one would think that a lot/enough/perhaps too much priced in for 2024 ?
Cost of capital has increased...
Gold reaches record high today near $2,100 per ounce. Here's what's behind the surge. - CBS News >>> pretty bad set-back on daily charts yesterday though
Hang Seng - just whaoo - no love there ! be opportunistic ? slowly but surely ?
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