SNB hikes 25bps, as expected (rise in rents risk to higher inflation, underlying inflation pressure rising further etc, SNB has 'sold' forex' in recent quarters', cannot rule out further monetary policy tightening), Norges hikes 50bps, slightly more than expected, and rates may well be raised further in August, hammer down (inflation is markedly above target)
Fed Chair Powell said policymakers expect interest rates will need to move higher to reduce US growth to below its long-term trend and contain price pressures >>> they would like to pause (macro data softer, but employment data still strong), but fear it will be a mistake, so skipping with still finger on the button to hike if data is stronger
Crypto-related stocks, Coinbase & the likes of MicroStrategy have been in rally mode after Bitcoin soared back to $30k, 12months high, growing optimism of a spot-BTC ETF, with BlackRock, Invesco, and Wisdom Tree filing for a spot bitcoin ETF, which could renew demand from institutional investors, all of which is exactly what the SEC wanted
A once-shuttered California mine is trying to transform the rare-earth industry >>> need to compete with China's dominance in this field..
Credit Suisse's troubled past is UBS's present and A lawsuit filed in a New York court on Tuesday accused former bosses Thomas Gottstein, Tidjane Thiam and Brady Dougan, and several other executives of doing excessively risky trades to achieve high short-term returns and bonuses.
How Brexit killed the expat dream. Post-Brexit travel rules are killing any hopes of la dolce vita
Texas power prices jump 100% as record heat wave sends demand soaring
The Alternative for Germany (AfD) party is more popular with voters than ever before, soaring to 20 percent of vote in the latest Sunday poll, released every week by INSA on behalf of Bild newspaper. It has never reached this level in an INSA poll before
Goldman: Hedge funds have net sold US equities in 9 of the past 10 trading sessions (99th percentile over the last five years)
Markets :
1year money, UST's, corporate bonds (not all but many) and S&P earnings 'yield' 5,25%... this hasn't happened for long while, all markets competing for capital flows
GOLD vs BTC, are we back at this game ? lower XAU vs higher BTC ? this at a time when BRICS+ physical demand for XAU has been on the increase
BTC back above 30K - irrelevant of the actual price, imho the move from major players into spot BTC ETF's etc is exactly what was required long-term
Terminal rates higher overall in few places, UK focus next, BoE should do 50bps and get on with it..
Equity markets - may well have put a top last 48hours, post OpEx etc. momentum change, higher Terminal rates, nothing dramatic, but do watch out, always worth taking some profits fi you been riding the AI / SPX7 wave
They have been late for 2years, have very little credibility, and everyone ends up paying the price for their incompetence (together with crazy populist government), they will do 25bps, but might as well do 50bps now and get on with it
ON top of it all !... Interest Rates, Inflation Drive UK National Debt Above 100% of GDP - Bloomberg
Doctors say HCA hospitals push patients into hospice care to improve mortality stats (nbcnews.com) what a brilliant bit of research, this is pretty terrible - to say the least!
Insufficient prototype testing could put Titanic sub passengers in extreme danger, a lawsuit says (yahoo.com) always faster, quicker delivery of most things, then the thinking starts and the lawsuits follow...
indeed, was always far too expensive, and not even more healthy
Feeling opportunist ?
have a great day
Team PVM
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