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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 6 May 2024 - - - #### US vs. Europe: equity returns were very much similar before 2009... Source: FT [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![US vs. Europe: equity returns were very much similar before 2009...](https://blog.syzgroup.com/hubfs/12-May-06-2024-10-08-02-3447-AM.jpg) ![US vs. Europe: equity returns were very much similar before 2009...](https://blog.syzgroup.com/hubfs/12-May-06-2024-10-08-02-3447-AM.jpg) 6 May 2024 - - - #### US vs. Europe in one chart Source: Michel A.Arouet [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![US vs. Europe in one chart](https://blog.syzgroup.com/hubfs/9-May-06-2024-10-02-17-0770-AM.jpg) ![US vs. Europe in one chart](https://blog.syzgroup.com/hubfs/9-May-06-2024-10-02-17-0770-AM.jpg) 25 Apr 2024 - - - #### Europeans ‘less hard-working’ than Americans, says Norway oil fund boss Tangen finds US investments more attractive due to weaker regulations and more risk-taking \>\>\> Europe is less hard-working, less ambitious, more regulated and more risk-averse than the US, according to the boss of Norway’s giant oil fund, with the gap between the two continents only getting wider. Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in the past decade. His views are significant as the oil fund is one of the largest single investors in the world, owning on average 1.5 per cent of every listed company globally and 2.5 per cent of every European equity. Its US holdings have increased in the past decade while its European ones have declined. US shares account for almost half of all its equities compared with 32 per cent in 2013. The leading European country — the UK — represented 15 per cent of its equity portfolio a decade ago but just 6 per cent last year. Source: FT [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Europeans ‘less hard-working’ than Americans, says Norway oil fund boss Tangen finds US investments more attractive due to weaker regulations and more risk-taking \>\>\>](https://blog.syzgroup.com/hubfs/13-Apr-25-2024-12-56-46-9737-PM.jpg) ![Europeans ‘less hard-working’ than Americans, says Norway oil fund boss Tangen finds US investments more attractive due to weaker regulations and more risk-taking \>\>\>](https://blog.syzgroup.com/hubfs/13-Apr-25-2024-12-56-46-9737-PM.jpg) 24 Apr 2024 - - - #### The US is pushing through another big military aid package for Ukraine. Meanwhile, Germany has massive INDIRECT EXPORTS to Russia - see charts below. What are US taxpayers supposed to think when they see this? Source: Robin Brooks [#russia|](https://blog.syzgroup.com/syz-the-moment/tag/russia) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![The US is pushing through another big military aid package for Ukraine.](https://blog.syzgroup.com/hubfs/6-Apr-24-2024-03-51-58-2563-PM.jpg) ![The US is pushing through another big military aid package for Ukraine.](https://blog.syzgroup.com/hubfs/6-Apr-24-2024-03-51-58-2563-PM.jpg) 23 Apr 2024 - - - #### German economy has returned to growth. German Composite PMI Index moved back to \>50 growth threshold in Apr for 1st time in 10mths, driven by a buoyant services sector. At 50.5, up from 47.7 in March, it signaled a modest expansion rate in private-sector business activity. Service PMI recorded its strongest growth since Jun2023 (index at 53.3). The manufacturing PMI meanwhile remained in sub-50 contraction territory at 42.2. Source: HolgerZ, Bloomberg [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![German economy has returned to growth.](https://blog.syzgroup.com/hubfs/9-Apr-23-2024-12-06-35-8341-PM.jpg) ![German economy has returned to growth.](https://blog.syzgroup.com/hubfs/9-Apr-23-2024-12-06-35-8341-PM.jpg) 19 Apr 2024 - - - #### MUST READ: Mario Draghi, who is writing a report on how to revive the European economy at the request of Brussels, shares “the design and the philosophy” of his forthcoming report. https://lnkd.in/emkyzQCN Source: Javier Blas [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![MUST READ: Mario Draghi, who is writing a report on how to revive the European economy at the request of Brussels, shares “the design and the philosophy” of his forthcoming report.](https://blog.syzgroup.com/hubfs/1-Apr-19-2024-02-51-31-2358-PM.jpg) ![MUST READ: Mario Draghi, who is writing a report on how to revive the European economy at the request of Brussels, shares “the design and the philosophy” of his forthcoming report.](https://blog.syzgroup.com/hubfs/1-Apr-19-2024-02-51-31-2358-PM.jpg) 16 Apr 2024 - - - #### Mind the gap... France debt to GDP ratio ihas been diverging in a meaningful way vs. Germany debt to GDP. Rating agency Fitch already cut country's credit rating from AA to AA- last year, rating agency S&P has placed France under review... Source: Bloomberg, HolgerZ [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Mind the gap...](https://blog.syzgroup.com/hubfs/10-Apr-16-2024-02-35-09-5483-PM.jpg) ![Mind the gap...](https://blog.syzgroup.com/hubfs/10-Apr-16-2024-02-35-09-5483-PM.jpg) 3 Apr 2024 - - - #### Eurozone inflation cools, setting stage for June rate cut: Headline CPI slowed to 2.4% YoY in March from 2.6% in February below consensus forecast of 2.5%. Core CPI slowed to 2.9% from 3.1%, again below economists' expectations to reach lowest level in \>2yrs. But there were signs that inflationary pressures have yet to ease in labor-intensive parts: Service Price inflation +4.0% YoY, unch from 4 preceding mths. (via DJ, Bloomberg thru HolgerZ). [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Eurozone inflation cools, setting stage for June rate cut:](https://blog.syzgroup.com/hubfs/17-Apr-03-2024-02-11-08-4260-PM.jpg) ![Eurozone inflation cools, setting stage for June rate cut:](https://blog.syzgroup.com/hubfs/17-Apr-03-2024-02-11-08-4260-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/43) [42](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/42) [43](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/43) [44](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/44) [45](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/45) [46](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/46) [❯](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/45) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/55?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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