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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 3 Apr 2024 - - - #### German inflation slowed to 2.2% in March from 2.5% in February as expected but core CPI more sticky. Core inflation slowed to 3.3% from 3.4% in Feb. Source: Bloomberg, HolgerZ [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![German inflation slowed to 2.2% in March from 2.5% in February as expected but core CPI more sticky.](https://blog.syzgroup.com/hubfs/3-Apr-03-2024-01-47-33-3636-PM.jpg) ![German inflation slowed to 2.2% in March from 2.5% in February as expected but core CPI more sticky.](https://blog.syzgroup.com/hubfs/3-Apr-03-2024-01-47-33-3636-PM.jpg) 25 Mar 2024 - - - #### Below central bank holdings of government bonds... Greece was excluded from ECB QE under Draghi, but was included in COVID QE, giving it a big boost (pink). Greece then undermined the G7 cap on Russia at every turn, protecting its shipping oligarchs at the expense of the EU. If you can't behave properly, there should be no QE... Source; Robin Brooks [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Below central bank holdings of government bonds...](https://blog.syzgroup.com/hubfs/21-Mar-25-2024-04-21-52-8641-PM.jpg) ![Below central bank holdings of government bonds...](https://blog.syzgroup.com/hubfs/21-Mar-25-2024-04-21-52-8641-PM.jpg) 22 Mar 2024 - - - #### The worst seems behind the economy. This is indicated by the Ifo Business Climate Index, which has jumped to 87.8 in March, highest level since June 2023 vs 86.0 expected. Current conditions rose to 88.1 in March from 86.9 in Feb, Ifo business confidence to 87.8 from 85.7 in Feb. Suggests that we could see a recovery as households begin to spend their real income gains. Employment is robust and nominal wage growth comfortably exceeds inflation again. There could be some green shoots in the export sector, and even the deep slump in construction may have bottomed out. Source: Bloomberg, HolgerZ [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![The worst seems behind the economy.](https://blog.syzgroup.com/hubfs/2-Mar-22-2024-04-32-28-4253-PM.jpg) ![The worst seems behind the economy.](https://blog.syzgroup.com/hubfs/2-Mar-22-2024-04-32-28-4253-PM.jpg) 14 Mar 2024 - - - #### European Stocks are on track for their 8th consecutive green week which would be their longest winning streak since 2022 source : barchart [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![European Stocks are on track for their 8th consecutive green week which would be their longest winning streak since 2022](https://blog.syzgroup.com/hubfs/19-Mar-14-2024-04-07-19-8258-PM.jpg) ![European Stocks are on track for their 8th consecutive green week which would be their longest winning streak since 2022](https://blog.syzgroup.com/hubfs/19-Mar-14-2024-04-07-19-8258-PM.jpg) 13 Mar 2024 - - - #### Disinflationary forces continue in Germany. Wholesales Prices drop 0.1% MoM in Feb after +0.1% MoM in Jan, plunge 3% YoY which is a good leading indicator for German food price CPI. Sources: Bloomberg, HolgerZ [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Disinflationary forces continue in Germany.](https://blog.syzgroup.com/hubfs/13-Mar-13-2024-03-18-13-9589-PM.jpg) ![Disinflationary forces continue in Germany.](https://blog.syzgroup.com/hubfs/13-Mar-13-2024-03-18-13-9589-PM.jpg) 13 Mar 2024 - - - #### Who are Europe's GRANOLAS? Novo Nordisk $NVO LVMH $LVMUY ASML $ASML Nestlé $NSRGY L'Oréal $LRLCY SAP $SAP Roche $RHHBY AstraZeneca $AZN Novartis $NVS Sanofi $SNY GSK $GSK Source: App Economy Insights [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Who are Europe's GRANOLAS?](https://blog.syzgroup.com/hubfs/6-Mar-13-2024-03-02-10-6356-PM.jpg) ![Who are Europe's GRANOLAS?](https://blog.syzgroup.com/hubfs/6-Mar-13-2024-03-02-10-6356-PM.jpg) 8 Mar 2024 - - - #### Europe's leading stock index reaches 500 points for the first time, 24 years following its achievement of 400 points source : Bloomberg [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![Europe's leading stock index reaches 500 points for the first time, 24 years following its achievement of 400 points](https://blog.syzgroup.com/hubfs/9-Mar-08-2024-09-58-27-7330-AM.jpg) ![Europe's leading stock index reaches 500 points for the first time, 24 years following its achievement of 400 points](https://blog.syzgroup.com/hubfs/9-Mar-08-2024-09-58-27-7330-AM.jpg) 6 Mar 2024 - - - #### France's 2023 Deficit 'Significantly' Above 4.9%' (BBG) France's budget (in)discipline... Since the Great Financial Crisis in 2008, France managed to keep its budget deficit below the 3% threshold (remember the Maastricht Treaty) just once (2018). This is far worse than Italy. France's debt-to-GDP ratio is at 110%, up from 64% pre-financial crisis. With potential GDP growth at a paltry 1% and declining, structurally low interest rates is needed to keep the debt burden afloat. Source: Jeroen Blokland, Bloomberg [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![France's 2023 Deficit 'Significantly' Above 4.9%' (BBG)](https://blog.syzgroup.com/hubfs/16-Mar-06-2024-04-09-10-6989-PM.jpg) ![France's 2023 Deficit 'Significantly' Above 4.9%' (BBG)](https://blog.syzgroup.com/hubfs/16-Mar-06-2024-04-09-10-6989-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/44) [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) [47](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/47) [❯](https://blog.syzgroup.com/syz-the-moment/tag/europe/page/46) [❯❯](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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