Germany is the european country the most sensitive to global trade according to Goldman - see chart below
According to Goldman Sachs, the Dax and MDax have a beta of 1.9 to world trade growth — meaning they tend to move almost twice as strongly w/changes in global trade. That’s much higher than the US market, which has a beta of 1.4. In contrast, the UK’s FTSE 100 is less exposed to global trade, thanks to its defensive sector mix and the UK’s services-driven economy. The Swiss SMI is similarly more insulated. It’s also a defensive index, and Swiss exports are generally less sensitive to global demand, as they often consist of high-tech, specialized products. Source: HolgerZ, Goldman Sachs
Uncertainty during uncertain time...
Source: Bloomberg
OpenAI is now the world's second most valuable private company
Source: Markets & Mayhem @Mayhem4Markets
What's your favorite US mega-cap here?
Source: Bespoke
Is Trump's plan to reshore manufacturing already working?
This is the biggest increase in manufacturing jobs since October 22, which was followed by a 2 year manufacturing recession. Source: Bloomberg, www.zerohedge.com
The Magnificent 7 is officially in bear market territory 🐻
Source: Koyfin
Negative interest rates have made a return in Switzerland, as noted by Costa Vayenas
Specifically, the one-month CHF government bill yield indicates a scenario where holders of Swiss francs are willing to pay the borrower instead of receiving interest. Source: C. Vayenas
The SP500 clawed back earlier losses on Monday to end the session higher after briefly touching six-month low.
However, the tape wasn't all that bullish despite the big reversal. Indeed, Tech completed a top relative to $SPY while defensive stocks completed a bottom. Not the kind of risk appetite you want to see on a rally. Source: Steven Strazza
