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8 Feb 2023

China reopens borders with Hong Kong

Source: Bloomberg

8 Feb 2023

A reality check on Europe's energy shock: the French trade deficit

France's trade deficit in Dec. '22 was the widest in two decades when compared to the same month in previous years, a crude way to adjust for seasonality. Europe's energy shock is large and ongoing. Source: Robin Brooks

7 Feb 2023

US existing home sales have been falling faster today than they did during the Great Financial Crisis

Source: Morgan Stanley

7 Feb 2023

MSCI China relative multiples are the highest since 2011

Either earnings improve for Chinese companies or the MSCI China Index now looks pretty expensive vs rest of world. Source: Citigroup, Sofia Horta e Costa

7 Feb 2023

China Gold Reserves keep growing

China lifts Gold reserves by extending buying to 3rd month. China has joined other nations in building up reserves of bullion. Source: HolgerZ, Bloomberg

7 Feb 2023

The 1-Year US Treasury yield trades at its highest level since August 2007

The 1-Year US Treasury yield has moved up to 4.85%, its highest level since August 2007. A year ago it was at 0.88% and in mid-2021 it hit an all-time low of 0.04%. Sourc: Charlie Bilello

7 Feb 2023

The rise of Tesla

Sales, 10 Yrs Ago: GM: $152 billion; Ford: $134 billion; Tesla: $0.4 billion. Sales Today: GM: $157 billion; Ford: $158 billion; Tesla: $81 billion. Net Income, 10 Yrs Ago: GM: $6.2 billion; Ford: $5.6 billion; Tesla: -$0.4 billion. Net Income Today: GM: $10 billion; Ford -$2 billion; Tesla: $13 billion. Source: Charlie Bilello

7 Feb 2023

FED swaps price in 50bp of rate cuts for second half of 2023

Source: Bloomberg, Alessio Urban

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