Chaos In Europe
Ian Reynolds
Investing and Trading | Capital Markets | Macroeconomics| Bitcoin & Decentralised Finance | Helping to Find the Money Flow | Commentator | Speaker
Based on a satirical map from 1870, this reprinting illustrates the tensions brewing before the start of World War 1.
Breaking
The petrodollar is dead and that's a big deal [FX Street] G7 leaders strike deal on $50bn funding for Ukraine using Russian assets [Yahoo News]
In Focus
Europe In Disarray
The European Election delivered the clarity that was greatly wanting.?
Following Sunak calling a UK general election in July, voters in Europe decided they, too, had had enough. France and Germany's ruling parties were thrashed with Macron forced to call a snap election.?
8 years after the landmark Brexit vote, where the UK citizens demonstrated that voting No actually works, the disintegration of Europe has begun. France's probable next leader is vocally keen on Frexit. If this transpires it's the beginning of the end for the European Union.?
With their economies stagnant and facing an escalating war with Russia, some sort of leadership is required and it's in woefully short abundance. Only Giorgia Meloni from Italy has any conviction.
Already markets are beginning to price in the shock to come.
CAC stands for Cotation Assistée en Continu, which stands for "continuous assisted trading" or "listing," and was an electronic trading system that the Paris Stock Exchange used in the 1980s and 1990s.
As we speak the G7 meeting in Italy is coming to a close, and there'll be some big announcements I would anticipate.
The G7 Summit is an international forum held annually for the leaders of the G7 member States of Canada, France, Germany, Italy, Japan, the UK, and the US. Represented jointly by the President of the European Council and the President of the European Commission, the EU participates in all discussions as a guest.?
Pictured above with Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission.
These are the most powerful leaders in the "free world". Whatever your political persuasion, you can be sure that change is coming.
Japan
I love the BoJ policy statements. Straight to the point.
Unchanged short-term rates but "it would reduce its purchase amount of JGBs thereafter to ensure that long-term interest rates would be formed more freely in financial markets"
"5. Topic The Bank will ask participants their opinions on the future conduct of the Bank's JGB purchases."
Having achieved the holy grail of central bank policy - "the year-on-year rate of increase in the consumer price index (CPI, all items less fresh food) has been in the range of 2.0-2.5 percent recently" ironically Japan finds itself hostage to financial markets in a situation of their own creation.
Look at GDP !
领英推荐
In The Background
FED presser - fast forward to 58.30 mins.
CPI and PPI came in slightly lower than expected, helping stock markets to rally even further, although 6 big companies are distorting the indices.
CRE / Regional Banks
The banking sector share prices were hit this week as the CRE crisis starts to impact bigger banks.
Market participants are warning that banks are dumping toxic debt from CRE loans
Moody's puts six U.S. regional banks on downgrade review over commercial real estate exposure [CNBC]
Bitcoin | US Election
Canada
China
Australia
What's Next ?
This Week's Important Economic Indicators [London time]
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