3 days ago

Global growth is the thing that is 'transitory'

PMI surveys conducted by JP Morgan show output measures rolling over back to normal levels following the sharp downturn and upturns since the pandemic.

#Macro
Global growth is the thing that is 'transitory'

4 days ago

US retail sales post surprise beat (+0.7% m/m vs -0.8% expected)

US consumption lull might havew just ended

#Macro
US retail sales post surprise beat (+0.7% m/m vs -0.8% expected)

7 days ago

Why investors are bearish. Reasons #1-3.

(1)A record monthly equity issuance ? $5bn of issuance in Europe occurred Friday. September is shaping up to be one of the busiest months in history    (2)Corporate buyback blackout window--Corporates are expected to be the largest buyer of stocks in 2H and corporates have significantly offset issuance. See FAAMNG massive outperformance Wednesday.   (3) September 16th is the highest point of the day-by-day peak for the month, before closings starts to fall.

#Macro

7 days ago

We could see the six-month credit impulse start to turn up

China’s August money supply data was out late last week and confirms that the credit impulse remains negative on both a six-month and 12-month basis. With concerns about real estate company Evergrande’s debts coming to the boil last week, there is some pressure on the authorities to loosen credit conditions and help those types of firms out. That means we could see the six-month credit impulse start to turn up, although there are few that expect China to engage in any large-scale monetary easing any time soon, given those aforementioned debt concerns. That is one reason why some doubt there is much more upside for commodities left. @MacroMarkets Daily

#Macro

10 days ago

Electrictiy prices in Europe are skyrocketing - if they don't reverse it's a problem

Is sky the limit? Electricity prices keeps skyrocketing in Europe:Day-ahead per MWh: 🇫🇷 France: €110 🇪🇸 Spain: €137 🇮🇹 Italy: €145 🇩🇪Germany: €110 🇬🇧 UK: £162 (the UK price is the highest ever for this time of the year)Unless those cool down quickly, the impact is set to be felt strongly by citizens and businesses very soon…Source: Javier Blas Twitter

#Macro
Electrictiy prices in Europe are skyrocketing - if they don't reverse it's a problem
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