This is how store of values perform against a collapsing fiat currency...
Source: Trading view
US small bank cash reserves plummeted by $258 billion last week below the level considered a constraint, according to ZeroHedge.
This excludes a $126 billion still sitting at the Fed’s emergency lending program that expired in March. It marked the largest decline in bank deposits since April 2022 when $336 billion came out of the banking system. Meanwhile, US regulators have seized Republic First Bank on Friday and agreed to sell it to Fulton Bank, another regional bank with $6 billion in total assets. The FDIC projects the failure will cost the fund around $667 million. Is the US regional bank crisis really over? Source: The Kobeissi Letter, www.zerohedge.com
The UAE's ascent.
Do you know that the UAE's stock markets have a larger market capitalization than Brazil's or Spain's? Do you also know that the UAE's IPOs have been 2nd worldwide in raising capital? Source: Ryan Lemand, PhD, Bloomberg
WELCOME TO FOMC WEEK. Here's what's happening:
In the US: ◦ April ADP employment ◦ April ISM manufacturing ◦ March Job openings ◦ FOMC interest rate decision ◦ Fed Chair Powell press conference ◦ April employment rate ◦ $AAPL, $AMZN, $LLY, $MA, $KO, $AMD, $MCD, $QCOM earnings Rest of the world: ◦ In Europe, the focus will be on April CPI prints as well as the Q1 GDP reports. ◦ The latest economic activity and labour market indicators will also be in focus in Japan, and PMIs are due in China. Source: Trend spider
Here's how Google $GOOGL makes its money
Source: Chartr
Copper hits $10,000 for the first time in 2 years as speculation builds that the world’s mines will struggle to meet a coming wave of demand from green industries.
BlackRock, Trafigura see supply shortfalls unless prices gain. This week, Mining giant BHP Billiton has offered to buy rival Anglo American (ex-its South African iron ore and platinum assets) for USD 39 bn. According to Bloomberg, if the deal proves successful, “BHP-Anglo could control 11% of the mined copper supply”. This deal highlights copper’s dominance as the primary metal in the energy transition. Source: Bloomberg
AI Boom’s Secret Winners? The Companies Expected to Power It
The AI boom is set to drive a rally in what's traditionally the most boring corner of the stock market: utilities. Utilities to see booming demand as more data centers go online. Power consumption will increase massively. Goldman's Power Up basket has soared 28% and the Data Center Equipment basket is up more than 18%. Source: Blomberg, HolgerZ
Fed Cut Probability Update - Jim Bianco (Bianco Research)
- May 1 FOMC meeting (green) less than 50% (meaning no move) - June 12 FOMC meeting (blue) less than 50% (meaning no move) - July 31 FOMC meeting (red) less than 50% (meaning no move) - September 18 FOMC meeting (orange) less than 60% (since it is 5 months away, effectively a coin-toss) After this, the next FOMC meeting is Thursday, November 7, two days after the election.
