Mains Street vs. Wall Street: "Normal people have a different way of looking at inflation compared to economists/central bankers."
(There is one consequence of this dichotomy by the way: the rise of populists parties which will increase public spending bringing in more inflation...) Source: TS Lombard Research Partners Dario Perkins via Daily Chartbook
With fiscal deficit over 5% during good times France is at risk of facing a debt crisis whoever wins next elections
Source: Bloomberg, Michel A.Arouet
Apple almost overtook Microsoft as the largest market cap in the world.
Source: Companies Marketcap
japan just sold $17 billion worth of Foreign Debt, the largest sale in 9 years...
Source: Bloomberg, Barchart
s de-dollarisation (or at least attempts of de-dollarisation) accelerating?
=> Saudi Arabia ditches US dollar and will NOT renew the 50 year 'petro-dollar' agreement with the United States. Saudi Arabia will now sell oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. => Russia's Moscow Stock Exchange suspends all trading in $USD & $EUR => El Salvador securities market launching on liquid with trading pairs in Bitcoin Source: radar, Global Times
BREAKING: May PPI inflation was unchanged, at 2.2%, below expectations of 2.5%.
Core PPI inflation fell to 2.3%, below expectations of 2.4%. This ends the first 3 consecutive monthly increase in PPI inflation since April 2022. Another welcomed sign by the Fed after CPI. YoY Growth: PPI (May), 2.2% Vs. 2.5% Est. (prev. 2.2%) Core PPI, 2.3% Vs. 2.5% Est. (prev. 2.4%) MoM Growth: PPI (May), -0.2% Vs. 0.1% Est. (prev. 0.5%) Core PPI, 0.0% Vs. 0.3% Est. (prev. 0.5%)
Trump want all the remaining Bitcoin to be MADE IN THE USA
Source: Bitcoin Archive
BREAKING: Prediction markets officially price-in 2 interest rate cuts this year after CPI inflation data.
The odds of no cuts have fallen from 33% to 24% over the last few minutes, according to @Kalshi. Meanwhile, market implied odds of exactly 2 rate cuts have spiked from 21% to 35%. Less than 2 months ago, the base case showed 0 rate cuts in 2024 with odds of rate HIKES spiking. 6 months ago, markets showed a base case of 6 interest rate cuts in 2024. Source: The Kobeissi Letter
