Syz the moment

They are closely followed by BlackRock’s 'iShares Semiconductor ETF’ at 23.3%. There is a clear pattern here where semiconductor and technology ETFs have achieved the highest returns over the last 10 years. Source: Genuine Impact

"Thanks to the desirability of our brands, we approach the second half of the year with confidence and optimism" - Bernard Arnault Organic Growth by Business Group - source: Quartr

Colbalt is essential for a series of technologies, from batteries needed for EVs to portable devices like smartphones, tablets, and laptops. The Democratic Republic of Congo (DRC) has long been the world’s largest cobalt producer, accounting for 73% of global output in 2022. However, according to the Cobalt Institute, the DRC’s dominance is projected to decrease to 57% by 2030 as Indonesia ramps up its cobalt production as a byproduct from its rapidly expanding nickel industry. Indonesia accounts for nearly 5% of global cobalt production today, surpassing established producers like Australia and the Philippines. Source: Visual Capitalist, Elements

The S&P 500 equity risk premium hit the lowest level in two decades, which will be a headwind for longer-term returns. Source: The Daily Shot

Binance has withdrawn from multiple European countries due to registration difficulties. The most recent country in question is Germany. Circumstances, both in the global market and regulatory landscape, led to the decision. “Binance confirms that it has proactively withdrawn its BaFin application,” a spokesperson told Blockworks. Last month, the country’s financial regulator BaFin declined to grant a license to Binance, adding to the regulatory challenges the company is facing in the region, per Finance Forward.

Jonas Jünger, the managing director of Binance in Germany, reportedly said his primary focus was to successfully establish a branch of the company in the country. He also mentioned that the regulatory prerequisites for accomplishing this goal were quite stringent.

Source: blockworks

The Bloomberg US High Yield corporate CCC-rated bond index has delivered a staggering return of over 11% in 2023 so far. To put things into perspective, this level of performance has only been surpassed once in the last decade, back in 2016! The impressive rally in this segment can be attributed to the significant tightening of CCC credit spreads, which have contracted by a remarkable 200bps! Additionally, the high carry of the CCC-rated bonds, with an average yield-to-maturity of 13% in 2023, has contributed to the sector's stellar performance. However, as we approach a critical juncture in the economy, with looming concerns over a potential recession, the question arises: can this impressive performance sustain itself? While a soft landing scenario seems currently fully priced in, the possibility of a materialized recession in the coming months adds an element of uncertainty to the equation. Source : Bloomberg

source: Markets & Mayhem

Sales at the group whose brands include Louis Vuitton, Dior and Tiffany, rose 15 percent during the January-June period compared with last year, to hit 42.2 billion euros. ONE BUG SURPRISE -> LVMH reported a surprising drop in U.S. sales in the second quarter, as its chief financial officer said “aspirational customers are not shopping as much as they used to.“ LVMH’s U.S. sales slid 1% in the second quarter from the prior-year period. The disappointing results in the U.S. market came after Cartier owner Richemont earlier this month reported a 4% decline in U.S. sales. Richemont shares fell 10% on the news, pressuring other luxury stocks throughout the week as analysts braced for a potential U.S. luxury slowdown. Here are the details by App Economic Insights - LVMH Louis Vuitton Moët Hennessy H1 FY23 Revenue +15% Y/Y to $42.2B. Wines & Spirits -4% to €3.2B. Fashion & Leather goods +17% to €21.1B. Perfumes & Cosmetics +11% to €4.0B. Watches & Jewelry +11% to €5.4B. Selective retailers & other +26% to €8.4B. Source: App Economy Insights, Barron's, CNBC