top of page
Jul 21, 20234 min read

TSLA may cut price again / BoJ, JPY focus / Biden calling Ai firms / Wheat, rice & Olive oil prices




  • Olive oil prices hit all time highs, rice prices move on India and wheat on UKR/RU non deal, none of it is welcome..

  • Chinese professor says youth jobless rate might have hit 46.5%. Zhang Dandan adds 16m nonstudents 'lying flat' or relying on parents to tally

  • "The latest batch of Chinese activity data and policy news suggest to us that this year’s "around 5%" growth target is very important to the authorities, and we are clearly in a policy easing cycle even though massive stimulus seems unlikely in the near term." - Goldman >> and strangely enough this morning : China's State Planner has released policies to boost consumption of electronics products

  • Europe is hoarding $8 billion worth of Chinese solar panels.. Europe bought a record amount last year, 90% of which came from China

  • How Dubai became ‘the new Geneva’ for Russian oil trade

  • India (the world’s top rice exporter) just banned shipments of non-basmati rice. This is aimed to help curb domestic rice prices, which have increased nearly 10% in 2023, but threatens to boost prices for the rest of the world

  • Ukraine warns that ships heading to Russian ports may be military targets, in a tit-for-tat response to a similar warning from Moscow

  • Earlier this morning, Reuters ''sources'' report the BoJ is "leaning towards" keeping YCC unchanged next week, and that there is no consensus within the BoJ around how to phase out stimulus

  • US Existing Home Sales fell 19% over the last year, the 22nd consecutive YoY decline. That's the longest down streak since 2007-2009 (few signs of picking up a little last few weeks, early days though)

  • German house prices : sharpest decline since 2004, and number of new buildings starts is the lowest since 2007

  • UK's John Curtice : yesterday's results confirm Tories in “deep electoral trouble” with average drop in Tory support 21%, “In other words, taken as a piece, these three by election are consistent with the depressing message of the opinion polls that Tories a long way behind”

  • U.S debt financing cost/Thread

  • Tesla may cut prices again of its electric vehicles in ‘turbulent times,’ Musk

 
Markets :

  • CORRELATION trading models (which are the very vast majority of all trading these days, probably >80%, in reality underpin/valid further their own correlation, till the day when some sort of big human rationality (or big geo-political event etc) steps in, thus more boom and bust price action ever more likely in markets going forward, for years to come, it's when its obviously bearish or bullish that one should be taking notice

  • -NQ might have overdone it with the 'rebalancing' story, NTFX and TSLA's guidance were not good at all, see what others big 7's do now, looks a bit over-cooked!

  • -USDollars firmed up a bit with yields, ECB's Knot may well have put a top on EURUSD at 1.12+ and stronger US data (claims etc), CROSSJPY's highe rthis morning as it seems BoJ will stay put - beware of ''sources'' though, IF you are looking to play a YCC change, would only look to go via FX options (JPY calls), as mentioned yesterday, cash will remain wild..

  • -Crude WTI $75+ grinding higher, continue to think we heading 80+

 



The Chinese prof includes in her calc the 16m who are ‘lying flat’ or living w/ and being paid perhaps by parents. 1/2 Chinese professor says youth jobless rate might have hit 46.5% - Nikkei Asia










Companies registered in the small Gulf state bought at least 39 million tonnes of Russian oil worth more than $17 billion (CHF14.6 billion) between January and April – around a third of the country’s exports declared to customs














Buy your pasta now !





37 views0 comments

Comments

bottom of page