US CORE CPI LITTLE HOTTER THAN EXPECTED => A FED PAUSE IS LIKELY BUT NO RATE CUT ANYTIME SOON
Consensus expected a reacceleration of Headline inflation (+0.6% MoM after +0.2% in July) and a stabilisation of “core” inflation (+0.2% MoM after +0.16% in July). Key actual numbers are the following: ON A SEQUENTIAL BASIS (MoM) Headline inflation numbers are in-line with expectations (+0.6%). That is the biggest MoM since June 2022 and the second straight monthly increase in CPI...The energy index rose 5.6% in August after increasing 0.1% in July. There was a big turn-around in airline fares. They rose 4.9% after dropping 8.1% in each of the previous two months. But the gasoline index dominated with an increase of 10.6 percent in August, following a 0.2% increase in the previous month.
Visualizing Google’s Search Engine Market Share 🔍
https://lnkd.in/dAbVgCFJ
The continued strong demand for consumer services is why the Fed is unable to contain core inflation
According to Apollo, a record 22% of US consumers are planning to vacation in a foreign country. US households want to travel on airplanes, stay at hotels and eat out. The Kobeissi Letter: "That is why inflation in the non-housing service sector continues to be so high. No wonder credit card debt is skyrocketing". Source: The Kobeissi Letter, Apollo
Yes I know it is an easy one...
Source: coingecjo, TeongH_SR
2022 global military budgets hit an all-time high of $2.2 trillion
When you combine the military budgets of the US and China, it surpasses the combined budgets of all other countries in the world! By Genuine Impact / Chris Quinn
Cartoon humor
Source: hedgeye
Disinflationary forces are fading right now in Germany
Wholesale prices rose 0.2% MoM in August, after 4 consecutive months of declines. Prices of mineral oil products rose markedly (+6.9%) compared w/July 2023. More headaches for the ECB? Source: Bloomberg, HolgerZ
Templeton just filed application for a Bitcoin spot ETF
Here's the list of Institutions which have filed for a bitcoin spot ETF (assets under management in brackets) -> Total assets managed is $17.7 trillion - BlackRock ($10T) - Fidelity ($4.5T) - Franklin Templeton ($1.5T) - Invesco Galaxy ($1.5T) - WisdomTree ($87B) - VanEck ($61B) - GlobalX ($40B) - ARK Invest ($14B) - Bitwise ($1B) - Valkyrie ($1B) Asset manager Franklin Templeton applied with the United States Securities and Exchange Commission on Sept. 12 to launch a spot Bitcoin exchange-traded fund (ETF).
