🔴 TRUMP & TSMC TO ANNOUNCE MASSIVE $100B U.S. CHIP INVESTMENT
Trump and TSMC, the world's largest contract chipmaker, are set to unveil a $100B investment in U.S. semiconductor manufacturing over four years. This expands on TSMC’s $65B Arizona site, which began mass production in 2024, and is fueled by the 2022 CHIPS Act’s $6.6B grant and tax incentives. With AI, smartphones, and military tech at stake, the move aims to counter Taiwan’s 90% grip on advanced chips. Source: WSJ thru Mario Nawfal on X
‼️Global economic policy UNCERTAINTY is skyrocketing:
Economic policy uncertainty index based on news articles spiked to the highest on record. This exceeded the 2020 Crisis peak. US tariffs and deteriorating economy are among the major concerns and add to investors' angst. Source: Global Markets Investor
Is D.O.G.E going global ???
➡️ “What Europe needs is a DOGE,” Deutsche Telekom CEO Tim Höttges told an audience at the Mobile World Congress in Barcelona. ➡️ Höttges made a renewed call for Europe to cut down on barriers to market consolidation in Europe’s telecoms industry and consider charging U.S. tech giants to use mobile carriers’ networks. ➡️Elon Musk’s Department of Government Efficiency has looked to slash spending at federal government agencies, making huge job cuts at various different departments. https://lnkd.in/eJDZc4DS
It seems that the market didn't like this chart at all
(ISM Manufacturing New orders & Price Paid) Source: Bloomberg, RBC
‼️ Alert: Unconfirmed reports that President Trump will announce that the US is leaving NATO in his joint address to US Congress tomorrow!
Source: US Homeland Security News @defense_civil25 on X
A clear message from the market:
Cyclicals vs defensives peaked in late January, with underperformance accelerating in mid-February. If you add to this the inverted 3m-10y yield curve, the odds of recession are on the rise. Source: Bloomberg, RBC
Canada Economic Uncertainty Index
Source: Bianco Research L.L.C.
U.S. households now have the biggest allocation to stocks in history
Source: Win Smart, CFA @WinfieldSmart
