Chinese stocks
Source: Ayesha Tariq, CFA
Mentions of Job Cuts in Earnings Calls Hits Pandemic Peak
Layoffs are being mentioned on US earnings calls at the HIGHEST rate since the pandemic, according to Bloomberg. Source: Bloomberg, Genevieve Roch-Decter, CFA
Nice cartoon by hedgeye...
Let see how long Powell will resist not cutting rates... Trump seems to have already decided about his faith anyway...
Zuck (meta) vs. Musk (Tesla)
Remember the cage match story ? 😏 Source: carl Quintanilla
Tether 2023 net income put into perspective
Unlike the banking giants who employ thousands of people, the number of employees at Tether is (officially) 125.
🇹🇷 A Surprise Resignation at the Central Bank of Turkey (CBT) 🌟
Governor Hafize Gaye Erkan's sudden resignation from the Central Bank of Turkey (CBT) has stirred questions about its impact on monetary policy and financial markets. Erkan, who made history as the first woman to lead the CBT, took office less than eight months ago with a mandate to adopt a more orthodox monetary policy. She swiftly raised the benchmark interest rate to 45% to combat soaring inflation. Following Erkan's exit, her deputy, Fatih Karahan, assumed leadership. With experience from the New York Federal Reserve and Amazon, Karahan is expected to maintain a strict monetary stance. He affirmed a commitment to monetary tightening until inflation aligns with the CBT's goals. This transition arrives amid high consumer price inflation, expected to remain around 65% for January. Karahan's appointment underscores the nation's policy continuity and commitment to economic stability through orthodox monetary measures. As financial markets react, we'll closely watch the CBT's policy decisions under Governor Karahan's leadership and their impact on the Turkish economy. 🇹🇷📈 Source: Bloomberg #CBT #TurkeyEconomy #MonetaryPolicy #MarketImpact
BREAKING: US NFP at 353k way above the estimated 185k, Wages came in hotter than expected +4.5% YoY vs +4.1% expected.
The December jobs report has been revised UP, showing 333,000 jobs added rather than the 216,000 originally reported. This breaks a 10-month trend of downward revisions in the reported jobs number. Meanwhile, average hourly earnings in January rose 0.6%, DOUBLING expectations. Unemployment rate held flat MoM at 3.7% (the Street was anticipating 3.8%). Note that according to the Household survey, the number of employed people dipped by 31k MoM, so US Non-farm-payroll report is not as hot as at 1st sight. Source: Bloomberg, HolgerZ
The Fed's balance sheet is now at its lowest level since March 2021, down $1.3 trillion from its peak in April 2022.
How much more QT is needed to unwind the massive QE from March 2020- April 2022? $3.5 trillion. Source: Charlie Bilello
