France changes its Prime Ministers more often than some people buy new underwear...
Source: Connexion VisActu
In case you missed it... Eurozone inflation picked up in Sep, with CPI rising 2.2% YoY, driven by hashtag#energy base effects and higher service costs.
Core inflation, which excluding volatile items like energy & food, remained steady at 2.3%, in line with expectations. Source: Bloomberg, HolgrZ
The German auto industry is expected to eliminate nearly 100,000 jobs by 2030.
Carmakers and their suppliers are struggling w/waning demand, high labor & energy costs & intensifying competition from Chinese manufacturers. Overall, Germany’s auto sector has lost roughly 55,000 jobs over the past 2yrs. Tens of thousands of additional positions are set to disappear by 2030, in an industry that employs more than 700,000 people. Source: HolgerZ, Bloomberg
In Germany, the short-lived rally at the start of the year has already fizzled out.
The country is losing ground on the global stage: German stocks now make up just 2.1% of global market capitalization, down from 2.4% only three months ago. Source: Bloomberg, HolgerZ
Germany versus Nvidia
The German stock market keeps lagging in the AI era. The entire German market is valued at ~$3tn, well below Nvidia’s nearly $4.5tn market cap. Germany-to-Nvidia now stands at 0.67, near an all-time low. Source: HolgerZ, Bloomberg
EU economy troubles summarized in once cartoon
Source: @WallStreetMav
Big Tech groups are losing a political battle in Brussels to gain access to the EU’s financial data market
This was despite Donald Trump’s threats to punish countries that “discriminate” against US companies with higher tariffs. With the support of Germany, the EU is moving to exclude Meta, Apple, Google and Amazon from a new system for sharing financial data that is designed to enable development of digital finance products for consumers. Such a decision would hand a significant boost to banks in their efforts to fight off a competitive threat from Big Tech groups, which they fear will use their data to disintermediate them from their customers while extracting much of the value of knowing people’s spending and saving behaviour. After more than two years, negotiations on the Financial Data Access (FiDA) regulation are entering the final stages in coming weeks, with Big Tech groups facing almost certain defeat, according to diplomats. Source: FT https://lnkd.in/eMfM2QFb
Yesterday’s FOMC statement, interpreted through a large language model, was the most dovish since 2021.
Source: Augur Infinity @AugurInfinity
