📊 #Gold hit a fresh All-Time High (ATH) as hopes for Fed rate cuts grow, and some traders ramped up bets on a second Donald Trump presidency. (BBG) https://t.co/dFCBqPx3ew
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📊 Trump trade – Russell long vs Nasdaq 100 short – gains momentum. https://t.co/s2u049KCDa
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📊 Good Morning from Germany, which is seen as the big loser of a Trump economic policy. Regarding GDP, Germany has the highest share of industrial production, which in turn would be particularly affected by trade uncertainty. Acc to calculations by Goldman, the increased… https://t.co/79UCyxBT7d https://t.co/gU8h3pZihc
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📊 My favorite HISTORIC chart from Goldman highlights the Trump trade: 5d spread between Nasdaq 100 vs R2K shows pretty historic move relative to 20+ years of data: only matched by 2000 - 2001 era. https://t.co/7RM5Kg5V8T
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📊 To put things into perspective: Pair Trade Mega Cap Tech vs. Non-Profitable Tech has dropped ~15% within one week in tandem w/lower US 10y yields. https://t.co/yYiItplDMO
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📊 5day outperformance of Russell 2000 vs S&P 500 biggest in US history. https://t.co/kmcTgm9sS9
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📊 Nasdaq 100 plunged 2.9% in biggest drop since Dec as trade angst hit chipmakers and b/c Trump is not a friend of Big Tech. https://t.co/S3PzaWPcfK
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📊 Sox plunged 6.8% in semiconductor sector's worst selloff since March 2020 on the prospect of increased export restrictions on advanced semiconductor technology, and by Donald Trump's latest comments on Taiwan. Taiwan "did take about 100% of our chip business" and "should pay us… https://t.co/KMv40p4XZa https://t.co/2lVcj7FOKT
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📊 Good Morning on #ECB day from #Germany where there's no need for further interest rate cuts. The Taylor Rule suggests the fair interest rate should be 5.75%, 150bps higher than the current rate of 4.25%. While the unemployment rate is close to the Non-Accelerating Inflation Rate… https://t.co/UEgkySJ0eZ https://t.co/d5ut4F9cGZ
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📊 #ECB leaves all rates unchg as expected. Main Refi at 4.25%, deposit rate at 3.75%. Guidance on interest rates also stays unchanged: Not pre-committing to particular path. ECB to follow data-dependent, meeting-by-meeting approach. https://t.co/jZJwRt5qQd
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📊 #ECB's Lagarde: What we do in September is wide open. Markets are much clearer in this respect. Market participants are pricing in a further interest rate cut with an 80% probability. https://t.co/DKhkXbnyWq
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📊 #ECB's Lagarde: Direction of wage growth in 2025 and 2026 is downward. German real wages grew 3.8% in Q1, the most since the reunification wage boom. https://t.co/6m95GGLqe6
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📊 My favorite chart from Goldman: Correlation between mkt-cap-weighted S&P 500 and S&P 500 Equal Weight Version over the last 30 sessions has completely broken down, and registers as close to zero as we have seen in 20 years. https://t.co/3MQ7RCzflt
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📊 Good Morning from #Germany where the effect of falling producer prices is starting to fade. In June, the Producer Price Index (PPI) dropped by just 1.6% and even rose by 0.2% MoM. This suggests that the positive effect on consumer price #inflation might also start to level off. https://t.co/PQ2aFeFpTW
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📊 In case you missed it: German benchmark index Dax plunged 3.1% this week, fared the largest percentage decline since Aug 2023. The index closed in the red every day this week. https://t.co/ba2Y4cm5FQ
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📊 Speculators have ramped up their bets against long-dated US bonds due to the rising prospects of Trump 2.0. https://t.co/IWjHYPZotC
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📊 It seems that investors are buying that Trump wants a weak Dollar. Speculators have increased their bets against the Greenback. https://t.co/wNNMSbVjG9
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📊 Good Morning from Germany, where we're seeing a steepener trade in slow motion. After all, the 2s/10s yield spread has risen to -32bps, up from -83bps in 2023, showing ECB's cut in Jun hasn't fully materialized yet. So far, yield curve has only steepened slightly since those cuts https://t.co/8yDI4v9Lsu
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📊 #Greece is regarded as the new boom nation in the eurozone. In this week's #AllesAufAktien podcast, we discuss the opportunities for investors and present 11 great Greek stock ideas. You can find the list of shares by following the link. https://t.co/LsRfzkcOKr
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📊 To put things into perspective: If you measure valuations against history, US equities and US High Yield look rich, US Treasuries and European assets look cheap. (via MS) https://t.co/WoPE4b5IUS
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