Bearish Bets against the Japanese Yen reach highest level in 17 years
Source: Barchart, Bloomberg
A great chart by Quartr about swiss luxury giant Richemont
In 1987, Bernard Arnault created $LVMH. In 1988, Johann Rupert created richemont $CFR.SW – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest luxury company (with $RMS being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its top line at 5% per year. Looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. Quartr just created this infographic, mapping out every acquisition since Richemont's inception.
Chinese gold ETFs have cornered the bulk of the inflows in Asia this year.
Source: David Ingles
And the Winner is…
Via @PendulumFlow thru Michel A.Arouet
The Power of Vision or Why Exceptional Founders Embrace the Future, Define Their Destiny, and Forge the Path to Remarkable Success...
Source: R yan Junee
Looks like saudi arabia's balance of payments breakeven oil price (oil price that avoids a current account deficit) is now close to $85 a barrel...
This could explain why there is some scale back from NEOM + the need for oil prices to stay higher for longer... Source: Brad Setser
Global PMIs recovering nicely.
Source: Markets & Mayhem reposted Ayesha Tariq
The volatility index, $VIX, spiked 23% this week, the largest weekly jump since September 2023.
It also marked the highest weekly $VIX close since November 2023. Meanwhile, the Dow posted its worst week of 2024 so far. This week, we will receive crucial inflation data including CPI and PPI inflation. If CPI inflation rises again, it will mark the 3rd straight monthly increase in inflation. Will the VIX continue to increase? Source: Bloomberg, The Kobeissi Letter
