Syz the moment

As November trade data come in - after European energy prices had come back down - we're getting a picture of the "new normal" across Europe. Here is the French trade deficit (-) every November. Huge trade deficit in 2022, exacerbated by the maintenance of nuclear power plants... Source: Robin Brooks

The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($143 billion) in 2022, it said on Monday, the biggest in its 115-year history as falling stock and fixed-income markets hit the value of its share and bond portfolio - source: Bloomberg

The Swiss National Bank is an active investor in stock markets, unlike most other Central Banks. SNB balance sheet trades in tandem w/FANG Plus Index. Source: Bloomberg, HolgerZ

Source: Earnings whispers

Bulk carrier Glory ran aground in the Suez Canal on Monday morning, according to shipping agency Leth, which said efforts to refloat the vessel were underway. An employee of the Suez Canal Authority, who could not be named as the news had not been officially announced, told CNBC that other ships in the canal were still able to pass the grounded Glory by around 7:30 a.m. London time. The Suez Canal is one of the world’s most important waterways, with its 120 miles hosting 30% of global shipping container traffic and 12% of all global trade worth about $1 trillion annually. Source: CNBC

Source: Finimize

Source: Ruben Mathisen, Leveraged Shares

As the 1st week goes so goes the year? Global stocks have gained $1.8tn in market cap last week on Goldilock-ish econ data from the US – consisting of a resilient labor market set against eroding business sentiment across the economy. Source: Bloomberg, HolgerZ