#Schuldensuehner : #Euro pares some gains after Lagarde remarks: ECB's Lagarde says #ECB monitoring FX rates very carefully. And add: all instruments on the table. https://t.co/Td7s8D6zEE
#Schuldensuehner : Trust in traditional media has declined to an all-time low. For 1st time ever, fewer than half of all Americans have trust in traditional media. Trust in social media has hit an all-time low of 27%. Forces driving increasing mistrust are global & systemic. https://t.co/1ijQWu2mBy https://t.co/4qkDTumt8l
#Schuldensuehner : Good Morning from #Germany where inflation expectations (measured by inflation-linked Bonds) keep rising, following Eurozone M3 growth rate which jumped 11% YoY. German 10y Linker yield now >1%, highest level since Jan2020. https://t.co/w3MKHKmj1L
#Schuldensuehner : Stock rally paused w/indices consolidate from records as restrictions to curb escalating coronavirus cases dented some of the optimism over earnings & plans for additional stimulus. Dollar edged higher w/Euro at $1.2158. Bonds steady w/US 10y 1.10%. Gold at 1860. #Bitcoin 30.9k. https://t.co/frJKTlul68
#Schuldensuehner : Baupost’s Seth Klarman compares investors to ‘frogs in boiling water.’ Value investing guru says Fed has broken the stock market. Biggest problem w/unprecedented & sustained CenBank interventions is that risks to capital become masked even as they mount. https://t.co/cU1vTW1rmc https://t.co/pyDBdKguay
#Schuldensuehner : UK govt borrowing surpasses a quarter of a trillion pounds in the first nine months of fiscal year. That means that budget deficit in the fiscal year as a whole could be around 20% of GDP, double the level reached in the aftermath of the financial crisis. https://t.co/IkWYaE40z6 https://t.co/Bd5k9rBafF
#Schuldensuehner : Just to put things into perspective: 10 US Mega-cap growth stocks – ~30% of S&P 500 – propelling market in recent years. Other 490 only just ahead of Stoxx 600 over the last 6 years. (via DB) https://t.co/llzKRoi427
#Schuldensuehner : Good morning from #Germany, where Keynesian fiscal policy has pushed debt ratio to 70% of GDP, +9ppts YoY. Compared to other countries, German economy is way more resilient to pandemic. In #Cyprus, debt ratio has jumped 23ppts YoY, #Italy's 17.4ppts YoY, #Greece's 17.3ppts YoY. https://t.co/wnB4qidd2L
#Schuldensuehner : In case you missed it: Nasdaq has closed at another ATH. But many indicators indicate an overheating of the market. Put/call ratio at lows. Cash ratio of funds also raises the alarm. https://t.co/bSep3nLUsV
#Schuldensuehner : Just to put things into perspective: The FANG+ index has tracked the large Central Bank stimulus, DB chart highlights. https://t.co/KiClH54t2a
#Schuldensuehner : ‘Frothy Squared’: Crypto firms are lining up to tap market mania. After watching investors pour millions into blank-check comps & seeing likes of JFrog & Snowflake surge after debuts, at least 8 crypto firms are eyeing IPOs. Coinbase has already filed. https://t.co/SggE3IzCUK https://t.co/Ouyb5HcFCm
#Schuldensuehner : Looks as if Wall St. is ripe for a correction. The avg S&P return in Feb of a new presidency is a decline of 4%, just 2% when including incumbent presidents, SRP says. https://t.co/GDFxHr5vQj
#Schuldensuehner : Love this question from @StrategasRP: If the US govt were a company would you buy it? With the US govt having $27.8tn of total debt outstanding and $3.4tn of revenue, would you ever buy that company over one (S&P500) that has $5.5tn of debt and $11.3tn of revenues? https://t.co/2CnGdlVup1
#Schuldensuehner : Macron will host a "Choose #France" summit on Monday. Seeks to woo foreign CEOs after blocking retail deal. It will not be easy to assure foreign CEOs that France is open for business as French public spending ratio has jumped >63% in 2020. https://t.co/kncjLu42YZ https://t.co/uJVS9CZvpU
#Schuldensuehner : Good Morning from Germany where vaccination program becomes disaster. Only 1.9 people per 100 had been vaccinated so far. UK is streaks ahead w/9.3 vaccinated per 100 people, while Israel leads world w/40 dosed per 100citizens. There will be price to pay. Recovery will be delayed https://t.co/GVUbYz25KH
#Schuldensuehner : Mind the gap: #France & #Germany had similar debt ratios before the Lehman crisis in 2008. They have since diverged dramatically. Pandemic shock – symmetric in origin, asymmetric in its effects – is turning France into a full member of the vulnerable >100% Debt to GDP club. https://t.co/PzPps8WxLc
#Schuldensuehner : Global stocks gained $1.7tn in mkt cap this wk as investors look through Covid challenges given combination of liquidity support & vaccine rollouts. Business sentiment surprisingly improving in US & not surprising on downside in Europe. Early 4Q21 reporters have not disappointed. https://t.co/XYskwp9U2o