Waoouu... 🙄🙄🙄
Seven Chinese solar companies most people haven’t heard of are ALREADY providing more energy for the global economy than Exxon, Chevron, Shell, BP and the other Seven Sisters who once dominated oil production... Source: Bloomberg, David Fickling
Semiconductor industry overview
By Invest in assets
US 10 year yield breaks <4.3% on PPI.
The producer price index unexpectedly declined the most in 7mths, adding to evidence that inflationary pressures are moderating. The odds of a Fed rate cut in Sep shot up to 65% following PPI reading. Source: Bloomberg, HolgerZ
5 type of moats
By Brian Feroldi
Bitcoin distribution.
Source: Brian De Mint
BREAKING >>>
Tesla Inc. investors voted for Chief Executive Officer Elon Musk’s compensation package and moving the company’s state of incorporation to Texas, signaling confidence in his leadership despite slumping sales and a precipitous drop in the stock price. The electric-car maker announced the results at its annual meeting Thursday in Austin without disclosing the breakdown of votes. Musk had foreshadowed the outcome the night before in a post on X, saying both resolutions were “passing by wide margins.” The pay vote is only advisory and doesn’t guarantee Musk will get his money. A Delaware judge nullified Musk’s 2018 compensation plan in January, and Tesla is expected to appeal. If that appeal fails, moving the company’s legal home to Texas would allow the board to revive the pay package in a new state with potentially more favorable courts. Source: Bloomberg
Inflow mania >>
Rubner: "Global equity funds have seen $190.5 Billion inflows YTD. This is the second largest equity inflows on record (only 2021 saw more inflows). This is +$1.7B worth of equity inflows per day." Source: The Market Ear
📢 📢 📢 The Bank of Japan kept its benchmark interest rate unchanged on Friday, but indicated it’s considering the reduction of its purchase of Japanese government bonds.
The central bank left short-term rates unchanged at between 0% to 0.1% at the end of its two-day policy meeting, as widely expected. But notably, the bank said in its statement it could reduce its purchases of Japanese government bonds after the next monetary policy meeting, scheduled for July 30 and 31. QE tapering in Japan has a lot more potency than in the U.S., sheerly because of how much of the bond market the BOJ owns. Following the BOJ decision, the Japanese yen weakened 0.5% to 157.8 against the U.S. dollar, while the yield on 10-year JGB fell 44 basis points to 0.924. So absolutely no panic... Source: Bloomberg, CNBC
