Nonfarm payrolls +199k vs. +185k est.; net revisions -35k from prior 2 months; manufacturing payrolls +28k vs. +30k est.; participation rate 62.8% vs. prior 62.7%; change in household employment 747k vs prior -348k
@alex_avoigt Tesla solved the inventory problem in China by exporting more cars. There is no inventory problem in China anymore. The problem is that the cars that are exported end up in inventory in Europe which is close to an all-time high. Now Europe has an inventory problem but not China.
Bulls are trapped, with 4,200 being the level of the greatest call gamma for $SPX. CTAs are almost finished, VIXperation day today. Liquidity is draining, QE fantasy is over, odds of more rate hikes are building, and real yields swing higher.
1/4 Wow! Massive additional $TSLA EU price cuts in virtually EVERY COUNTRY (as @GLJ_Research predicted) secured. So... with: (a) TX/Berlin at 20%-40% utilization, (b) ~10% price cuts, across the board, in 1Q23 vs. just ~4% unit growth (i.e., the price cuts didn't work), and...
US 2y yields tumble by 14bps to 3.88% following softer US inflation data, reflecting expectations for rate cuts down the line. But the probability for a 25bp rate hike in May remains unch at 75%.
Family drama - My parents bought property in Mexico 20+ years ago and built a home on it with the intention of one day moving back to retire there. In the meantime they allowed my cousin & his family to live there for free for years.