Germany's inflation slowed to 3.8% YoY in Oct from 4.5% in Sep vs 4% expected and lowest since Aug 2021 as energy prices dropped 3.2% YoY and food inflation slowed to 6.1% YoY
German October Core CPI dropped to 3.8% from 4.6% in September. Source: HolgerZ, Bloomberg
Eli Lilly exceptionalism... $LLY vs. rest of Pharma and S&P 500 Healthcare stocks
Source: Goldman Sachs, TME
Moments ago the yen spiked to a session high against the US dollar
The highest since Oct 12, after Japan's Nikkei reported that the Bank of Japan may tweak its YCC again and allow long-term yields to rise above 1% as soon as its Tuesdays meeting. Source: www.zerohedge.com
Goldman's Derivatives desk:
Demand for TLT calls and call spreads exploded this week. That's because "this is a cheap way to play for a snapback in bonds." As shown below, average TLT call volume this was over 350k contracts per day, an all-time highs...
Getting cheaper...
Global stocks have lost another $1.5tn in mkt cap this week on still-elevated US 10y yields and on not good enough earnings results. All stocks now worth $98.2tn, less than global GDP. This means that the Buffett Indicator is once again below the critical level of 100. Source: HolgerZ, Bloomberg
Apple $AAPL is reporting earnings on Thursday. Will Q3 results provide a relief for the Magnificent 7 or rather pull the whole group further in corection territory?
No pressure Tim... Source: Trend Spider
U.S. Bank losses on held-to-maturity assets have soared to an ALL-TIME HIGH of $400 Billion
Source: Barchart
US Q3 GDP numbers summarized in one cartoon
Source: Elizabeth Oliveira Fonseca
