The K-shaped economy is not just about the US
Disclaimer
This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
Related Articles
*JAPAN NOV. CORE CPI RISES 3.0% Y/Y; EST. +3.0% *US NOV. CORE CPI RISES 2.6% Y/Y; EST. +3.0% This is the first time since 1977 that Japan has a higher inflation rate than the US. (Japan includes taxes in its inflation measure. The US does not.) Source: Jim Bianco
"Chancellor Friedrich Merz has now suffered a setback in foreign policy as well. He was unable to push through the Mercosur trade deal – an agreement that matters greatly for Germany’s economy – and the plan to support Ukraine’s debt relies on the issuance of joint EU debt. As a result, Germany is slowly losing one of its last competitive advantages: its superior credit rating. The risk premium on EU bonds relative to German Bunds has narrowed sharply in recent weeks". Source: HolgerZ, Bloomberg
CPI: 2.7% vs. 3.1% expected (3.0% previous) Core CPI: 2.6% vs. 3.0% expected (3.0% previous) This shows inflation is cooling down. FED now has more room for rate cuts and monetary easing. JANUARY RATE-CUT ODDS EDGE HIGHER November CPI undershot expectations, with headline inflation at 2.7% YoY and core CPI slowing to 2.6%, the lowest since March 2021. Markets are reacting modestly. Kalshi pricing shows the probability of a 25 bp Fed cut in January pushing higher, though a hold remains the base case. The data supports the easing trend, but January still appears borderline for action. Source: *Walter Bloomberg @DeItaone

