- Liz Ann Sonders
- Erik Fossing Nielsen
- Knowledge Leaders
- JJ Kinahan
- Sven Henrich
- Chris Ciovacco
- Dana Lyons
- Holger Zschaepitz
But QE and rate cut...
German manufacturers appear to have put the worst of a year-long slump behind. German manufacturing PMI rose to 43.8 in Nov, highest in 5mths and above estimates of 42.8. BUT Service PMI w/51.3 way below estimates of 52, so a mixed message from german PMI.
Investors have been following the central bank put all year to sky high market valuations on the presumption that growth would magically reflate as a result. So far there is precious little evidence of a meaningful rebound. What if there isn't one?
"flash services PMI fell to a 10-month low of 51.5 in November from 52.2, "Manufacturing remains in its deepest downturn for six years amid ongoing trade woes, and November saw further signs of the weakness spilling over to services, notably via slower employment growth,"
Does Lagarde leadership mean on the one hand… on the other hand? Says mon union focused too much on risk-sharing is likely to produce moral hazard, which harms union as a whole. But on other hand, prioritising risk reduction is likely to lead to opposite problem: fragile growth.
#ECB strategy review will begin in the near future, Lagarde has said. Maybe then she'll understand what her job is. Not political squabbling, but ensuring price stability. Lagarde’s first major public speech didn’t go too far into the specifics of MonPol.
Translated: In addition to us printing money forever it would be helpful if governments would go balls deep into debt.
Lagarde to continue the #ECB’s push for fiscal policy to step up: “We will continuously monitor the side effects of our policies. Monetary policy could achieve its goal faster and with fewer side effects if other policies were supporting growth alongside it.”
#ECB President Lagarde says Europe needs a new policy mix.
#China's banks trade below book value, signal economic stress ahead.
“Greenland Group” defaulted on substantial payment on construction Now I’m starting to wonder if that’s why Trump wanted to buy Greenland. Did he confuse a Chinese construction company with the northern part of Denmark and the inland ice? Very likely!
Deutsche Banks expects a temporary increase in #ECB communications volatility at first as the market learns to interpret signals from new president Lagarde. The initial expectation is that she will be more consensus-driven & less prone to pre-announcing policies than Draghi was.
After 3 wks in the job, all eyes on ECB President Lagarde's first real pol speech today due at 0930 CET. She'll be speaking at #EuroFinanceWeek & investors will be looking for any clues on rate pol as ECB so far failed to spur inflation expectation despite rumbling printing press
For the most part, there are three major forms of a market hypothesis w/some secular, fractal, & cyclical variations: Bullish Trend Consolidation/Range Bearish Trend The objective of ongoing research is to confirm or contradict the current working hypothesis. #TryToPokeHoles
Good Morning from #Germany where abrupt rise in rates would batter banks. German lenders have expanded their maturity transformation in response to falling interest rates. Share of new loans for house purchase w/interest rate lock-in period >10yrs has doubled to 50% within 10yrs.
Mr. Brown provided some silver lining during a transition/rebuild-season.
NYSE advancing volume provided some silver lining during Thursday's session.
New charts, new studies, and new concepts.
Consequences of an Inflection in the Chinese Yuan:
but mostly they'll be puzzled by all the gifs 😂
In case you missed it: Atlanta is America’s inequality capital: Top households are raking in $663,000, while families in the bottom half of the population earned less than $65,000, a ratio of 10.2 to 1. Nationwide, the ratio was 6.7.
Future historians will laugh at all our predictions.
WeWork bond shortly hit fresh low at 69.7 cents after cutting 2,400 jobs globally, nearly 20% of workforce in restructuring effort. Valuation has plummeted to about $8 billion from $47bn.
Yellen: “Savers are getting penalized. It's true."