--- title: Syz The Moment (1126) description: Syz The Moment (1126) --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. 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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 5 Jan 2024 - - - #### Citi, JPMorgan, BofA and Morgan Stanley have collectively reduced their exposure to China by about a fourth since 2020 Source: Lisa Abramowicz, Bloomberg [#Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) ![Citi, JPMorgan, BofA and Morgan Stanley have collectively reduced their exposure to China by about a fourth since 2020](https://blog.syzgroup.com/hubfs/1704399727670.jpg) ![Citi, JPMorgan, BofA and Morgan Stanley have collectively reduced their exposure to China by about a fourth since 2020](https://blog.syzgroup.com/hubfs/1704399727670.jpg) 5 Jan 2024 - - - #### US interest rate futures are beginning to shift back in the less dovish direction Odds of 7 or 8 interest rate cuts in 2024 have halved this week. Also, odds of rate cuts beginning this month are down to just 7%. However, the base case still shows 6 rate cuts for a total of 150 basis points in 2024. This is double the 3 rate cuts forecasted at the Fed's latest meeting. Source: The Kobeissi Letter [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) ![US interest rate futures are beginning to shift back in the less dovish direction](https://blog.syzgroup.com/hubfs/1704399435411.jpg) ![US interest rate futures are beginning to shift back in the less dovish direction](https://blog.syzgroup.com/hubfs/1704399435411.jpg) 5 Jan 2024 - - - #### While many economists and financial analysts look at the 1970s as a potential playbook for the current decade, the 1940s could be an interesting reference to consider as well The 40s was a decade of war and high budget deficit and rising debt level in the US. Monetary policy was mainly about financial repression, i.e keeping rates low despite temporarily high inflation. Overall, it was positive for risk assets. Source: Win Smart, FRED [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) ![While many economists and financial analysts look at the 1970s as a potential playbook for the current decade, the 1940s could be an interesting reference to consider as well](https://blog.syzgroup.com/hubfs/1704390291831.jpg) ![While many economists and financial analysts look at the 1970s as a potential playbook for the current decade, the 1940s could be an interesting reference to consider as well](https://blog.syzgroup.com/hubfs/1704390291831.jpg) 5 Jan 2024 - - - #### German inflation has accelerated again, at least the headline rate CPI rose to 3.7% in December from 3.2% in November due to base effect. But Core CPI has fallen further to 3.5% in Dec from 3.8% in November. This means that core inflation is once again below headline inflation. Source: HolgerZ, Bloomberg [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![German inflation has accelerated again, at least the headline rate](https://blog.syzgroup.com/hubfs/1704389821657.jpg) ![German inflation has accelerated again, at least the headline rate](https://blog.syzgroup.com/hubfs/1704389821657.jpg) 5 Jan 2024 - - - #### China’s central bank assets have surged by nearly $600B in the last 4 months In yuan terms, this was the largest 4-month increase in the history of the data. The issue of a bloated government deficit and significant debt is not exclusive to the US; it resonates globally. Source: Tavi Costa, Bloomberg [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) ![China’s central bank assets have surged by nearly $600B in the last 4 months](https://blog.syzgroup.com/hubfs/1704389961280.jpg) ![China’s central bank assets have surged by nearly $600B in the last 4 months](https://blog.syzgroup.com/hubfs/1704389961280.jpg) 4 Jan 2024 - - - #### Mark Zuckerberg sold nearly half a billion dollars of Meta shares in the final two months of 2023 after a 2y hiatus in which the company’s stock price hit its lowest in seven years The Meta CEO sold shares on every trading day between Nov. 1 and the end of the year, unloading nearly 1.28mln shares for ~$428mln. On average, each sale took in $10.4mln. Source: Bloomberg, HolgerZ [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) ![Mark Zuckerberg sold nearly half a billion dollars of Meta shares in the final two months of 2023 after a 2y hiatus in which the company’s stock price hit its lowest in seven years](https://blog.syzgroup.com/hubfs/1704375117881.jpg) ![Mark Zuckerberg sold nearly half a billion dollars of Meta shares in the final two months of 2023 after a 2y hiatus in which the company’s stock price hit its lowest in seven years](https://blog.syzgroup.com/hubfs/1704375117881.jpg) 4 Jan 2024 - - - #### How the economy works... An over-simplistic but accurate chart Source: Markets & Mayhem [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) ![How the economy works... An over-simplistic but accurate chart](https://blog.syzgroup.com/hubfs/1704374939568.jpg) ![How the economy works... An over-simplistic but accurate chart](https://blog.syzgroup.com/hubfs/1704374939568.jpg) 4 Jan 2024 - - - #### The Druckenmiller Recession indicator continues to plummet Source: Win Smart, TS Lombard [#Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) ![The Druckenmiller Recession indicator continues to plummet](https://blog.syzgroup.com/hubfs/1704374766007.jpg) ![The Druckenmiller Recession indicator continues to plummet](https://blog.syzgroup.com/hubfs/1704374766007.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/page/1125) [1124](https://blog.syzgroup.com/syz-the-moment/page/1124) [1125](https://blog.syzgroup.com/syz-the-moment/page/1125) [1126](https://blog.syzgroup.com/syz-the-moment/page/1126) [1127](https://blog.syzgroup.com/syz-the-moment/page/1127) [1128](https://blog.syzgroup.com/syz-the-moment/page/1128) [❯](https://blog.syzgroup.com/syz-the-moment/page/1127) [❯❯](https://blog.syzgroup.com/syz-the-moment/page/1251?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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