Out of the 22 world leaders included in a release by Morning Consult, only six can currently claim positive net approval ratings
This means that more people in their country approve of them than disapprove. The exceptions are Prime Ministers Narendra Modi, Anthony Albanese and Giorgia Meloni of India, Australia and Italy, respectively, as well as the presidents of Mexico, Switzerland and Brazil, Andrés Manuel López Obrador, Alain Berset and Luiz Inácio Lula da Silva. As the COVID-19 crisis dragged on in 2020 and 2021, world leaders' approval ratings mostly decreased or stagnated at low levels. As global crises deepened with Russia's invasion of Ukraine in 2022, they have not yet recovered for most countries. French President Emmanuel Macron's score was among the worst in the ranking as protest in France about the raising of the retirement age quelled even more discontent. Other politicians faring very poorly were Czech Prime Minister Petr Fiala, Japanese Prime Minister Fumio Kishida, Dutch Prime Minister Mark Rutte and South Korean President Yoon Seok-youl. Source: Statista
Italian banks slump after government introduces windfall tax
Deputy PM Salvini announced a 40% levy on extra profits of lenders for 2023 as part of a wide-ranging decree approved at a cabinet meeting. Analysts estimate it will wipe 19% from bank earnings. Levy targets higher interest incomes following rate hikes by ECB. Source: Bloomberg, HolgerZ
China's Inward Foreign Direct Investment Falls To The Lowest Level On Record...
Indeed, Inward FDI fell further in Q2: The preliminary Q2 Balance of Payments (BOP) data released last week showed China's current account still enjoys a healthy surplus, but the financial account continues to see notable net outflows. In particular, inward Foreign Direct Investment (FDI) fell to the lowest level since the series started in 1998. Source: SAFE, www.zerohedge.com
US Bank credit YoY is now -0.2% YoY. First time negative since 08 (Keep in mind that in the US about 25% of credit is securities and the other 75% loans)
Source: FRED, Adem Tumerkan
Barbie to top $1 billion at the global box office Sunday
The blockbuster from Warner Bros. Discovery and Mattel will top $1 billion in global ticket sales, before the end of the weekend, according to estimates from the studio. Final numbers will be released Monday. Only around 50 other films have reached this benchmark. Gerwig joins Anna Boden, co-director of Disney’s “Captain Marvel,” as the only two women to helm a billion-dollar film. “Captain Marvel” reached just shy of $1.13 billion during its theatrical run in 2019, according to data from Comscore. This also marks the first billion-dollar film for the newly minted Warner Bros. Discovery, which merged in 2022, and only the second movie released in 2023 to do so. Universal’s “The Super Mario Bros. Movie” has topped $1.3 billion since its April debut. Source: CNBC
BlackRock's Circular Economy Fund invests in companies that focused on ♻️sustainability and reducing waste.
The fund's diverse portfolio includes waste management companies such as Waste Management and Republic Services, beverage company Coca-Cola, and manufacturer ASML, among others. Chart by Genuine Impact
Despite the strong upward move of the Citigroup US economic Surprises index and the strong YTD performance of financial assets, there are signs that things are that rosy for the SU economy
Source: TaviCosta
Hedgeye about investors going nuts (do they?)
Source: Hedgeye
