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22 Feb 2024

Germany’s manufacturing downturn unexpectedly deepens amid falling demand at home and abroad.

S&P Global’s PMI for the country’s industrial sector dropped to 42.3 from 45.5 the previous month – well below any economist estimate in a Bloomberg survey. The picture was brighter in France, where the contraction eased much more than analysts had predicted. Companies reported improving demand while expanding their workforce. Source: Bloomberg, HolgerZ

15 Feb 2024

This chart shows either total management failure or how dismal things are in Germany as a business location with high electricity prices.

Thyssenkrupp's stocks have fallen by 62% over the past 5 years, while the competition, particularly from the US, has made strong gains. Source: Bloomberg, HolgerZ

6 Feb 2024

German factory orders unexpectedly advanced at year end

GERMANY DEC. FACTORY ORDERS RISE 2.7% Y/Y; EST. -5.3% - BBG *GERMANY DEC. FACTORY ORDERS RISE 8.9% M/M; EST. -0.2% That jump —defying a median economist estimate of a 0.2% decline — was thanks to major orders, without which there would have been a 2.2% drop , Destatis said. Source: Bloomberg, C.Barraud

6 Feb 2024

Germany's exports to Kyrgyzstan were up 1200% in 2023 vs before Russia invaded Ukraine...

Source: Robin Brooks

1 Feb 2024

Germany troubles in one chart. Retail sales have fallen by 4.4% in Dec YoY.

This means that even Christmas sales fell through. Germans have gone on a buyers' strike since the outbreak of inflation & have even cut back on gifts for children during the Christmas season. This also explains why Germany has some of the toughest competition in the retail sector and the lowest profit margins there. Source: Bloomberg, HolgerZ

1 Feb 2024

German inflation slows to 2.9% in January from 3.7% in December, lowest level since June 2021

Core CPI slows to 3.4% in January from 3.5% in December, lowest level June 2022. Energy in deflation, hashtag#energy prices dropped -2.8% YoY, while Food CPI slowed to 3.8% from 4.5% in December. Source: HolgerZ, Bloomberg

29 Jan 2024

The "Deutsche Mag 5" -> Germany has its version of Magnificent 7 stocks

An index consisting of SAP, Siemens, Allianz, Munich Re, and Deutsche Telekom has outperformed the Dax Price Index by almost 90ppts over a 10y period. Source: HolgerZ, Bloomberg, TME

25 Jan 2024

Germany's Dax closed at fresh all-time-high just as hedge fund Qube built a $1bn short bet against top German stocks

Volkswagen, Deutsche Bank, Rheinmetall, Siemens Energy, Hellofresh, and Morphosys are among those being wagered against. Source: Bloomberg

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