EU watchdog monitors surge of cash going into biodiversity funds
The surge in money going into biodiversity funds is the "next frontier" of ESG investing and warrants increased monitoring to avoid greenwashing, the European Union's securities regulator said.
The cumulative flow of money into biodiversity funds reached 854 million euros ($931 million) in the two years to June 2023, with 73% of the funds launched since 2022.
Source: Reuters
JPMorgan Chase approaching double support zone
JPMorgan Chase (JPM US) is approaching October 2022 uptrend support and July breakout level. Keep an on 143.50-145.50 zone for support. Source : Bloomberg
Three steps to investing heaven…
Source - Investing for Growth by Terry Smith thru Vishal Khandelwal
China's holdings of US Treasuries just reached its lowest level in 14 years
Now down almost $481B from peak levels. Source: Crescat Capital, Bloomberg
Crude Oil WTI is trying to break resistance
Crude Oil WTI is trying to break for the second time April high. Keep an eye at 84.40 resistance. Source : Bloomberg
TotalEnergies Breakout
TotalEnergies (TTE FP) is breaking out ! Massive volume yesterday (over 15 million shares). Source : Bloomberg
China Uses Another Tool to Aid Yuan in String of Market Support – Bloomberg
China moved to support the yuan by increasing the supply of foreign currency in its local market, part of a multi-pronged effort by Beijing to restore confidence amid sluggish growth. Financial institutions will need to hold just 4% of their foreign-exchange deposits in reserve starting Sept. 15, the People’s Bank of China said Friday, compared to the current level of 6%. The greater availability of overseas currency relative to the yuan effectively boosts the allure of the latter. The so-called FX RRR cut came on the heels of Thursday’s reduction in down payments for mortgages to help the country’s under-pressure residential property market and after policymakers lowered stamp duty for stock trading over the weekend. The combination of supportive measures is a sign that Beijing is growing uncomfortable with increasing pessimism in its financial markets.
Despite surging mortage rates, US home prices are RISING to ALL-TIME-HIGHS
Higher rates are having an INVERSE effect on price. Rather than prices falling with higher rates, they are actually rising. Why is this happening? As explained by The Kobeissi Letter, as rates rise, existing home sales are falling, now down 16.6% at their lowest since 2010. Borrowers are locked-in to sub-3% mortgages and do not want to sell their homes to get a 2.5x higher rate. We need LOWER rates for LOWER prices... Truly a historic occurrence... Source: FRED, The Kobeissi Letter
