Safran Breakout ?
Safran (SAF FP) is trading over resistance 150.85. After July false breakout and a 7% consolidation, is this time, the breakout ? Keep an eye on volume. Source : Bloomberg
AstraZeneca breakout ?
AstraZeneca (AZN LN) breaking out April downtrend. Stock has consolidated more than 18% since April. Is it the end of the consolidation ? Source : Bloomberg
The top 10 companies in the S&P 500 with outstanding credit ratings
Among them, Microsoft and Johnson & Johnson stand out as the only two companies boasting the highest AAA rating. Source: Genuine Impact
SMI Index Inverse Head and Shoulder pattern ?
SMI Index is forming an inverse Head and Shoulder pattern (H&S). Potential trend reversal. Keep an eye on 11'172 resistance level. Source : Bloomberg
European Central Bank hikes rates to a record 4% as inflation risks outweigh economic gloom.
- The ECB just raised its key rates again today, by 25bp (main Refi rate at 4.50%, deposit rate at 4.00%) - Concerns around the underlying inflation dynamic appear to have overwhelmed the ongoing negative (and concerning) dynamic in Europe’s economic growth: "inflation continues to decline but is still expected to remain too high for too long. The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. In order to reinforce progress towards its target, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points." Source: Bloomberg
While Germany is deindustrializing US construction spending on manufacturing is going thru the roof. Viel glück Deutschland...
Source: Michael A. Arouet
While China has been offloading US Treasuries for 10+ years, the rate has accelerated
Both Canada and Mexico also now account for a higher % of US imports than China. These stories belong to the "new normal": the East-West divide, reshoring / nearshoring / friendshoring, etc. Source: Tavi Costa, Bloomberg, The Kobeissi Letter
Despite QT of almost 1T$, Fed net liquidity* actually increased fueling the rally in big tech
Remarkable chart from Steve Donze at Pictet Asset Management thru Michel A.Arouet. *Net liquidity is a term that refers to the amount of cash and credit available for transactions, purchases, or investments. It is calculated by adding up the money supply and the outstanding credit in a given currency or region. Source: Pictet Asset Management, Michel A.Arouet
