https://twitter.com/Schuldensuehner/status/1543844756614258689 Good Morning from #Germany, which is falling as an economic powerhouse on a global scale. Germany’s trade surplus is gone. Foreign trade balance came in at MINUS €1bn in May, which is the 1st negative print since 1991 due to its energy problems & weakness in manufacturing. https://t.co/HnRBwNaQon via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1543888625594662912 The fall of Germany in one chart: German total mkt cap as % of global mkt cap has hit another All-Time low at 1.97%. Only 1 German comp, Linde, is among global Top100 when measured by mkt cap. 2nd largest comp SAP #110, 3rd largest Deutsche Telekom #123, 4th largest Siemens #127. https://t.co/FXMDZPxtok via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544019708650954754 Bundesbank’s Nagel objected to #ECB’s promise to contain borrowing costs of weaker nations: impossible to say if a widened spread is justified. Bundesbank would suffer losses if it was forced to sell German bonds to offset purchases of debt from elsewhere. https://t.co/MF0DEz3DeF https://t.co/VaHybtkho0 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544039043436093441 OOPS! German gas giant Uniper is in talks with the govt over a potential bailout package of as much as €9bn, BBG reports. Uniper, which is one of biggest importers of Russian gas, said last week it was in talks w/govt to secure liquidity. Shares sank 28%  https://t.co/e8fcRCjOAv https://t.co/4pRRiQkqsi via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544238709922570240 Good morning from #Germany, where retail bank deposits are merely stagnating as German consumers are squeezed by #inflation. Yet €2.65tn are still sitting in current accounts w/o any interest, meaning consumers are suffering purchasing shortfalls of €182bn this year alone. https://t.co/c0xc2u9d8n via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544239652223188992 OUCH! #Euro sank to a 20y low against the US Dollar as investors pared bets on #ECB interest-rate hikes given the growing risk of a recession in the region. Euro fell as much as 0.9% to 1.0331, its weakest level since December 2002. https://t.co/vssaqsxu8m via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544315571256414208 German short bonds extend rally, 2Y yield falls 16bps to 0.46% as traders pare back #ECB hike bets. https://t.co/olff9L2e2H via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544376648384102402 Hey guys, in our weekly @welt podcast DuZ we argue about whether #Germany's stumble is leading to a social crisis. Germany's econ situation is still stable, but the energy crisis has what it takes to cause econ & social collapse. MUST HEAR! https://t.co/DVziolzC3X https://t.co/6T6CY6IOC5 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544478550169976834 German 10y inflation expectations have collapsed to 2.09% due to recessionary fears and structural econ weaknesses. https://t.co/lbi4EI1poQ via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544571635256201216 Good Morning from #Germany where imports from #Russia hit highest since 2014 due to higher energy prices. Rolling 12-month imports from Russia rose to €39bn by the end of Apr despite sanctions, help fill Putin's war chest. https://t.co/QEdb2706AP via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544631594971021312 #Russia has pocketed at least $24bn from selling energy to #China & #India since Ukraine war started, showing how higher prices limiting efforts by US & Europe to punish Putin. India spent $5.1bn on Russian energy in 3 mths to end of May, >5 times YoY. https://t.co/p0twRiyPmM https://t.co/wZFmQ8tAOF via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544635773504196608 RT @georg_schmitt: Dax ganz unten, Stimmung trotzdem weit oben. Feierabend-Radler mit den “Alles auf Aktien”-Podcastern @Schuldensuehner und @Tiefseher. Nicht im Bild, aber ganz nah: @The_Sommerfeldt. Viel zu weit weg: @AnjaEttel. https://t.co/UIXnsPywos via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544910386364923904 Good morning from #Germany where #recession fears are on the rise. 2022 growth forecasts have already plummeted to 1.7% from 4.5% at one point. The danger of recession is also becoming visible in bond mkts. 10y German bund yields have virtually collapsed from 1.9 to 1.2%. https://t.co/2mYKdzwKwy via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1544917395919278080 German 10y #inflation expectations have collapsed as stagflation worries now give way to recession worries. https://t.co/dNenE9mhKg via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545415077892952068 Good Morning from Germany where Target2 balance rose by €54bn in Jun due to rising stress in Eurozone w/10y Italy risk spread temporarily jumped >240bps for 1st time since 2020. Target2 claims of Bundesbank on rest of Eurosystem now €1.2tn, meaning substantial risks for Germany https://t.co/LmQ9mfZhMN via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545418418630844416 Strong US jobs confirm July 75bps Fed rate hike. Payrolls rose 372k in June – remaining strong relative to prior month's 384k figure and surpassing consensus expectations at 265k. Avg hourly earnings stronger-than-expected at 5.1% YoY as last month was revised higher. https://t.co/WjSBujldJI via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545506801067724800 Fed tightening expectations climbed following decent jobs report. Market is now pricing for Funds Rate to be 3.48% on 12/31, up ~11bp vs pre-jobs report on Thur. 75bp hike on 7/27 is widely assumed w/peak at ~3.59% around Mar2023 & cuts starting around May. (via @knowledge_vital) https://t.co/MbGBUdmzj7 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545511724853432326 Biotech stocks have added >$200bn in market value over past 3 weeks after sector sentiment got a boost from reports Merck & Co. was interested in cancer drugmaker Seagen. The Nasdaq Biotech Index has rallied roughly 20% since the first report of a potential tie-up. (via BBG) https://t.co/kHGJFrGSeQ via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545523818621538305 Elon Musk said he’s terminating his $44bn agreement to acquire Twitter and take it private, saying the company has made “misleading representations” as part of the deal. Twitter hasn’t “complied w/its contractual obligations” over issue of spam bots on the platform,” he said Fri. https://t.co/OVzmiS2YD8 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545528467416141826 #Twitter plunges 12% postmarket after Musk ends deal. Twitter plans to pursue legal action vs Musk to enforce pact at $54.20 per share price. https://t.co/XNQGptad1D via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1545755076601470976 Good Morning from #Germany which is preparing for natural gas shortages, chancellor Scholz says while EconMin Habeck warns of a social rift should an energy nightmare occur due to a lack of gas supplies from Russia. Gas in Europe is already 8 times more expensive than in the US. https://t.co/e7P3aNR68h via @Schuldensuehner