Mapped: The Top Middle East Exports by Country
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The average price of a used Tesla has declined 18 months in a row
moving from a record high of $67,900 in July 2022 to a record low of $36,661 today (-46%). $TSLA Source: Charlie Bilello
Money is flowing out of China for the first time in over 25 years
Source: AnilVohra1962, Safe, Macrobond, Clock Tower
UK 20-Year Bond Auction: A Strong Start to 2024!
Today's successful auction of the UK 4.75% 2043 bonds, raising GBP 2.25 billion at a yield of 4.391%, represents a significant rise from the 1.36% yield in the previous auction in October 2021. 📈 Highlighting investor confidence, the auction achieved a strong bid-to-cover ratio of 3.6. Notably, the 20-year UK Gilt has climbed nearly 40bps from its late 2023 low. 🔍 With core inflation trends showing signs of stabilization, market participants are keenly awaiting signals from upcoming wage and inflation data. We are observing keen interest in how the yield curve will react, particularly with the anticipated new 30Y gilt syndication on the horizon. More steepening could be on the cards. 💷 Considering the estimated £76 billion gilt supply for Q1 2024, a key question emerges: Can today's robust auction mitigate the recent selloff, primarily driven by substantial global duration issuance and reassessment of aggressive rate cut expectations? Source: Bloomberg
Bitcoin $BTC Spot ETFs could trade at an 8% premium relative to the underlying asset warns GTS market maker Reggie Browne
Source: Barchart
Tokyo CPI down again supports BOJ dovish stance for now
Source: Bloomberg
A new all-time-high for Nvidia $NVDA up +6.4% on the day
The chart looks rather bullish with an ascending triangle breakout as the weekly MACD begins to cross to the upside... The big news of the day was Nvidia planning to begin mass production of its AI chips designed for China that comply with U.S. export rules starting in Q2 - Reuters Source chart: Jake Wujastyk
Grayscale Bitcoin Trust $GBTC traded close to half a billion on Monday
which is more than 99% of the 3000 current ETFs, and reminder that they are bringing a (volume) gun to a knife fight if they launch with everyone else. That said, the 1.5% fee will act as a repellent at a time when the big asset managers plan to launch spot BTC ETF at 0% or super low fees. Source: Eric Balchunas, Bloomberg
