Straight from the Desk

Syz the moment

Live feeds, charts, breaking stories, all day long.

21 Feb 2025

The ECB has recorded the biggest loss in its 25y history.

This is the result of its aggressive policy responses to Eurozone crises & surging inflation—1st buying large amounts of bonds & then sharply raising interest rates. As a result, ECB is earning less interest from the bonds it holds than it has to pay to banks for their deposits. Source: HolgerZ, Bloomberg

20 Feb 2025

EU SLAPS RUSSIA WITH NEW SANCTIONS

by Evan on X. As Trump’s administration hints at potential sanctions relief for Russia, the EU is doubling down with a fresh wave of restrictions, including a ban on Russian primary aluminum imports. Secretary of State Marco Rubio suggested that Europe will eventually have to join negotiations, stressing that “concessions on all sides” will be necessary to resolve the Ukraine conflict. Despite the shift in U.S strategy, EU leaders are holding firm, with Ursula von der Leyen insisting that the bloc remains committed to pressuring the Kremlin. Source: Euronews

18 Feb 2025

In France and Italy, governments impose taxes to the tune of almost 50% (!) of GDP.

In the US, that’s barely 30%. Not a fun experience for productive individuals and companies in Europe... Source: Alf Macro on X

18 Feb 2025

European Stocks see largest weekly inflow in more than 2 years 🚨

Source: Barchart

17 Feb 2025

Germany 10-year bond yields rise as tensions between Europe and the US, highlighted at the Munich Security Conference, make investors nervous.

There is speculation that European leaders meeting in Paris today may agree to increase defense spending to strengthen the continent’s security. Source: HolgerZ, Bloomberg

17 Feb 2025

Germany will hold a snap national election on February 23 following the collapse of Chancellor Olaf Scholz's three-way coalition.

Currently, the CDU/CSU leads in Reuters polling aggregate by 8 points over the AfD. The far-right AfD has gained 4.6 points since June 2024. The SPD, the current leaders in the national parliament, have lost 12.1 points since the last federal election, and are currently in third place. Germany has two centrist, “big-tent” parties: Scholz's centre-left Social Democrats (SPD) and the opposition conservatives, an alliance of the Christian Democrats (CDU) and their Bavarian sister party, the Christian Social Union (CSU). Both have lost support in recent years, with smaller parties such as the Greens and far-right Alternative for Germany (AfD) gaining ground. The SPD, conservatives, Greens and AfD are all fielding candidates for chancellor. Also running are the pro-market Free Democrats (FDP), the far-left Linke and the leftist Sahra Wagenknecht Alliance (BSW), who are all at risk of missing the 5% threshold to make it into parliament, according to opinion polls. Source: Reuters

17 Feb 2025

In Germany, a ceasefire in Ukraine would add just 0.1ppts to Germany’s economic growth

—only half the boost expected in France, Italy, or Spain, according to Goldman Sachs. The reason? Germany would face a bigger economic drag from the return of Ukrainian refugees. Source: HolgerZ, Goldman Sachs

12 Feb 2025

I asked ChatGPT the potential savings if the Department of Government Efficiency (D.O.G.E.) was implemented across the European Union.

Here's the answer: MORE THAN A TRILLION EURO PER YEAR (Fyi, the EU budget deficit is around 500 billion euros).

Thinking out loud

Sign up for our weekly email highlighting the most popular posts.

Please note that you can unsubscribe at any time by clicking on the link in the footer of our newsletters

Follow us

Thinking out loud

Investing with intelligence

Our latest research, commentary and market outlooks