Looking at today's market action when Bloomberg announced that the White House said they discussed about firing Powell, it seems that Deutsche Bank was right...
Maybe Trump & Bessent watched the market and decided to immediately "TACO"...
What a mess... 🤡
*TRUMP ON FED CHAIR POWELL: WE ARE NOT PLANNING ON DOING ANYTHING *TRUMP ON POWELL: WE GET TO MAKE A CHANGE IN 8 MONTHS US 2-year hashtag#yields bounced back after President Trump says his administration is “very concerned”, but “not planning on doing anything” about Fed Chair Jerome Powell. Source: CNBC, Bloomberg, HolgerZ
Party like it's 1999! Goldman posts best stock-trading quarter in Wall Street History
At $4.3bn, equity-trading revenue for Q2 was about $600mln more than what analysts were expecting and $100mln above Q1. Source: HolgerZ, Bloomberg
China continues to quietly acquire gold through the London market
China bought 15 tonnes of gold in May, according to Goldman Sachs estimates, 8 TIMES more than officially reported figures. Over the past year, China's monthly purchases have oscillated between 25-60 tonnes. Source: Global Markets Investors, Goldman Sachs
Germany is losing its edge on trade. The country’s share in global trade has been shrinking since 2017, w/losses accelerating after 2021, according to Bundesbank.
Over three-quarters of the decline from 2021 to 2023 was due to falling competitiveness – not Trump’s tariffs Source: HolgerZ, Bloomberg
Nvidia is 3% of global market cap. The other 82,292 stocks (Bloomberg-tracked primary listings) make up the other 97%.
Source: David Ingles, Bloomberg
The Coastal Journal on X highlighted one important item published out of WellsFargo quarterly earnings results: a • $188B repo surge 📈 (+34%) in just 90 days.
While Wells Fargo $WFC beat earnings estimates, the stock is down -5.5% after market Are liquidity cracks are forming beneath the surface?
🔴 Japanese insurers' unrealized LOSSES are HUGE
▶️ The biggest insurers’ paper losses on their domestic bond holdings hit a record ¥8.5 TRILLION ($60BN) in Q1. 💥 Nippon Life, the largest insurer and the world’s 6th-largest saw ¥3.6TN ($25BN) LOSS. Source: Global Markets Investor
