https://twitter.com/Schuldensuehner/status/1597667613038899200 Peak #Inflation in one chart. German Inflation plunged by 0.5% MoM in Nov, the first month-on-month decrease since Nov 2021 AND the biggest monthly drop since Nov 2020. https://t.co/5Lqq5ZTIpC via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1597675401916317697 Europe Gas price closed at 6-week high w/unusually frigid weather expected to start eroding gas inventories. https://t.co/RiSEqQahpG via @Schuldensuehner
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Europe Gas price closed at 6-week high w/unusually frigid weather expected to start eroding gas inventories.
https://twitter.com/Schuldensuehner/status/1597683073541615617 Yield curve inversion reaches new extremes: US 10y yields have fallen further below those on short-term bonds than at any time in decades https://t.co/z5yjTqdBov https://t.co/cUjGT0Jrtc via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1597875752720281600 Good Morning from #Germany, where supermarket prices keep rising. German Food CPI jumped 21% YoY in Nov, the highest food price #inflation since the start of the statistic & way higher than in other Eurozone countries. In #Italy, food inflation is just 14% & in #Spain 16%. https://t.co/s8Rn5CzV5d via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1597901354550595584 Eurozone #inflation slowed for 1st time in 1.5yrs in sign of hope for ECB. Nov CPI dropped to 10% from 10.6% in Oct while Core CPI remained steady at 5%. Money markets are pricing ~56bps of rate hike in Dec. https://t.co/h0muVh9tL6 https://t.co/0D9yZak5RQ via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598070429536890881 Fed-sensitive US 2y yields swung nearly 20bp peak-to-trough: they hit a peak of 4.55% in the morning before dropping all the way to 4.37% after somewhat dovish Powell speech. Fed tightening forecasts swung, w/Fed terminal rate dropping from 5.05% to 4.92%. (via @knowledge_vital) https://t.co/9HODooLzaA via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598266046779392000 Good morning from the high-tax country #Germany. The Tax-to-GDP has jumped by a whopping 1.6ppts in 2021 to 39.5%. This puts Germany well above avg 34.1% of the OECD countries, and if social spending is included, Germany is even in first place. https://t.co/0cFvfjG4Sa via @welt https://t.co/IA5AXH1u4p via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598479994686439424 In case you missed it: #ECB balance sheet has shrunk by a whopping €298bn to €8,471.4bn, the lowest since Dec 2021, as banks have repaid €296bn of their TLTRO loans. Total assets still equate to 78% of Eurozone GDP vs Fed's 33%, SNB's 115%, BoJ's 128%. https://t.co/g1EvCNTxTf via @Schuldensuehner
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In case you missed it: #ECB balance sheet has shrunk by a whopping €298bn to €8,471.4bn, the lowest since Dec 2021, as banks have repaid €296bn of their TLTRO loans. Total assets still equate to 78% of Eurozone GDP vs Fed's 33%, SNB's 115%, BoJ's 128%.
https://twitter.com/Schuldensuehner/status/1598583611820605443 Good Morning from Germany where trade balance keeps improving not due to booming exports, but to fact that commodity prices have fallen, making imports cheaper & leading to better terms of trade. Exports fell by 0.6% in Oct MoM, imports fell 3.7%. Trade surplus widened to €6.9bn https://t.co/AIB5DaAs1r via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598622122959687680 #Fed deleveraging continues as balance sheet keeps shrinking. Total assets dropped by $37bn in the past week to $8,584.6bn, the lowest level since Nov 2021. Fed balance sheet equates to 33.4% vs #ECB's 78%, BoJ's 128%. https://t.co/oLwRcLVolD via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598677954661269505 OOPS! No Goldi-lockish US jobs data. A bit too hot! https://t.co/djivTXhgy0 via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598722592071946241 Just learned from @cclerici that for my graph putting #ECB balance sheet in relation to GDP, I may not take 2010 adj GDP in denominator, but last year's trailing GDP. When #inflation soars, the measure is skewed to the upside. Now ECB balance sheet equals to 66% of Eurozone GDP. https://t.co/OhAuQp6BLf via @Schuldensuehner
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Just learned from @cclerici that for my graph putting #ECB balance sheet in relation to GDP, I may not take 2010 adj GDP in denominator, but last year's trailing GDP. When #inflation soars, the measure is skewed to the upside. Now ECB balance sheet equals…
https://twitter.com/Schuldensuehner/status/1598798117515628546 #France’s credit outlook cut to negative by S&P as nation’s slowing econ & govt measures to cushion households & businesses from higher energy weigh on public finances. AA rating affirmed. S&P cut 2023 GDP forecast to 0.2% from 1.7%, deficit forecast raised to 5.4% from 4% of GDP https://t.co/J52Et5M46K via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1598949875148034051 Good Morning from #Germany, for which China is becoming increasingly important. Trade (exports + imports) between the two countries has reached another record. The volume of German-Chinese trade is heading for €300bn. https://t.co/yxVw82O8RY via @Schuldensuehner
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Good Morning from #Germany, for which China is becoming increasingly important. Trade (exports + imports) between the two countries has reached another record. The volume of German-Chinese trade is heading for €300bn.
https://twitter.com/Schuldensuehner/status/1599075392773451777 Britain’s growth potential has fallen behind every large economy except Mexico due to collapsing productivity & severe labor market shortages. Dismal picture helps explain why UK faces a sharp squeeze on household incomes & highest tax burden since WWII. https://t.co/xLySjLSQky https://t.co/3fIoGpApHz via @Schuldensuehner
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Britain’s growth potential has fallen behind every large economy except Mexico due to collapsing productivity & severe labor market shortages. Dismal picture helps explain why UK faces a sharp squeeze on household incomes & highest tax burden since WWII.…
https://twitter.com/Schuldensuehner/status/1599382240928333824 Good Morning from #Germany where natural gas storage levels keep falling due to cold weather. Gas storage levels declined over past week to 97.18% full. A week earlier it was 98.8% of capacity. The continued inflow of LNG will be key for Europe in the coming months. https://t.co/NWF9F9Uy59 via @Schuldensuehner
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Good Morning from #Germany where natural gas storage levels keep falling due to cold weather. Gas storage levels declined over past week to 97.18% full. A week earlier it was 98.8% of capacity. The continued inflow of LNG will be key for Europe in the coming…
https://twitter.com/Schuldensuehner/status/1599385635629846531 OPEC+ said it will stick to its oil-output targets amid mounting concerns over Covid lockdowns in China and uncertainty over #Russia’s ability to export crude. https://t.co/nFrwyLiUoe https://t.co/Eue4TTIdRb via @Schuldensuehner
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OPEC+ said it will stick to its oil-output targets amid mounting concerns over Covid lockdowns in China and uncertainty over #Russia’s ability to export crude. https://t.co/nFrwyLiUoe
https://twitter.com/Schuldensuehner/status/1599389911420850176 Hey guys, don't miss our weekend episode of @welt podcast AAA, where we interview German Cathie Wood. Fund Manager Jan Beckers confesses his 5 fuck-ups & explains why he sees a turnaround in tech & w/which stocks & themes he now wants to make his comeback. https://t.co/PDAmK2giM1 https://t.co/gIgqCJfR94 via @Schuldensuehner
https://twitter.com/Schuldensuehner/status/1599444743502540800 RT @Schuldensuehner: Hey guys, don't miss our weekend episode of @welt podcast AAA, where we interview German Cathie Wood. Fund Manager Jan Beckers confesses his 5 fuck-ups & explains why he sees a turnaround in tech & w/which stocks & themes he now wants to make his comeback. https://t.co/PDAmK2giM1 https://t.co/gIgqCJfR94 via @Schuldensuehner
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RT @Schuldensuehner: Hey guys, don't miss our weekend episode of @welt podcast AAA, where we interview German Cathie Wood. Fund Manager Jan…