https://twitter.com/Schuldensuehner/status/1653275772734300163 Chegg plummeted as much as 38% after CEO's warning of ChatGPT is threatening growth of its homework-help services. Company, which offers online guidance for students taking tests and writing essays, also gave revenue and profit forecasts for the current quarter that fell well… https://t.co/BYM7RjASRr https://t.co/rO4H1gLyNP via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653323539632603137 Looks as if domestic part of German econ is in dire state. Retail sales unexpectedly plunged 2.4% in March MoM vs +0.4% exp, following -0.3% in Feb. Marks 4th mth of falling retail sales. Only w/help of foreign demand Germany will be able to avoid recession, Ruland Research says. https://t.co/foNrv8PHYZ via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653327675702820865 #Eurozone #inflation slightly accelerates to 7% in April from 6.9% March while Core CPI slows to 5.6% from 5.7%, more or less as expected. https://t.co/ZdyJDMH7Qu via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653355324089200642 To put things into perspective: Money market fund assets relative to global equity market cap are low. (via BBG) https://t.co/VXlhVye9aB via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653362228781776898 Investors poured >$50bn into money market funds last week as investors enter the sell-in-May-and-go-away period. https://t.co/g0GFEhoUWB via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653408780007112706 US JOLTs report for March has dovish implications for Fed's decision as vacancies at US employers fell by more than forecast. Job openings in March sank to 9.59mln, down from 9.93mln in Feb. Number was at 11.2mln as recently as Dec 2022. (via US) https://t.co/LO0xzsN9pk via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653702596002033666 Good Morning from #Germany where the youth unemployment rate drops back to 5.6%, an All-Time Low. This puts the youth unemployment rate at a third of the French rate and a quarter of the Italian rate and a fifth of the Spanish rate. https://t.co/YVOZcdv59o via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653705862148501507 Eurozone's unemployment unexpectedly fell to 6.5% in March from 6.6% in Feb, a fresh record low, in a further sign of a persistently tight labor market, despite the ECB's efforts to cool the economy by raising interest rates. But youth unemployment still far from record low. https://t.co/wUGX3O3Qo7 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653709421363580929 Activist investor Carl Icahn is Hindenburg's latest short-selling target. The notorious research firm accused Icahn's fund of being inflated by 75% or more. Icahn and his son, Brett, own roughly 85% of the company. Stock plunges almost 20%. https://t.co/5oC1e3g2A6 https://t.co/8X0PnQcR9O via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653712256264175617 WTI #Oil plunged <$70/bbl as the prospect of a US recession threatened to curb fuel demand. Just days after OPEC+ began cutting production in an effort to stabilize markets, there was little indication that the group was having any success. https://t.co/7gtOF8hAAf https://t.co/gmlXbEcgNn via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653824245204394001 Peak Fed rate? #Fed hikes 25bp, which was largely priced in, but is not signaling any more hikes. Forward-looking language is very similar to that used in June 2006, when the Fed mounted one last rate hike during that campaign. Quantitative tightening will continue on pace --… https://t.co/5037InqBDq https://t.co/lp8C5ycG3z via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653858975534784512 #Fed's Powell says Fed can’t protect US economy from debt default. https://t.co/23ELVvEW6n via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1653871607398408195 Looks as if #Fed just ended one of the most aggressive tightening cycles in history: At least markets expect Fed to cut rates from now on. Sees Fed rates 75bps lower at end-2023. https://t.co/hLHvzuBUXY via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654027395437936640 Good Morning on #ECB day from #Germany where key interest rate should be at 10.3% & so 6.8 ppts higher than the current rate, acc to Taylor Rule w/German core inflation at 5.9% & unemployment way below NAIRU. ECB rates should be 7.2 ppts higher for the entire Eurozone & 8.2 ppts… https://t.co/4CUhrFEcKd https://t.co/lruFd4jlhI via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654099458588647424 #ECB slows pace of interest rate hike to 25bps as expected. Hints at more still to come: Main refi rate now at 3.75%, Depo rate at 3.25%, highest in almost a decade. Rate decision to be based on #inflation outlook. Expects to stop App reinvestments as of July. https://t.co/0ynwLT35Lr via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654102323369525251 Market reaction shows that the first read is that of a dovish ECB hike as accompanying forward guidance suggests the ECB is nearing the end stages. Euro down 0.4%. https://t.co/h1hoim0PMm via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654103133037920256 Mind the gap. Plunge in German 2y yields suggests that the markets do not expect interest rates to stay this high for long. https://t.co/t6wONfdHI0 via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654109755458060290 #ECB's Lagarde: Mood in Governing Council was ‘determined.’ Policymakers were “very focused” and paid special attention to the latest incoming data such as the bank lending survey. https://t.co/nAEvB1ohXd via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654111847102963713 #ECB's Lagarde: We are not pausing! We know we have more ground to cover! Markets price in two more 25bp rate increases. https://t.co/U58AWLgo7g via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654120983014555651 #ECB's Lagarde: “We are not Fed-dependent.” https://t.co/BuJ7tOHeSm via @Schuldensuehner

https://twitter.com/Schuldensuehner/status/1654376381822713859 Good Morning from #Germany where factory orders fall most since pandemic as manufacturing continues to fare worse than other parts of Europe’s largest econ. March orders cratered 10.7% vs -2.3% expected. Slump was particularly pronounced in car industry.  https://t.co/SUUDtKNwW2 https://t.co/9ik31s0dm3 via @Schuldensuehner