Mathieu C

[Bloomberg Markets @markets]

Economists have given up hope that Germany can avoid a second consecutive year of shrinking output, according to a Bloomberg survey https://t.co/vs4u87Rgsu

[AFP News Agency @AFP]

#UPDATE US President Joe Biden has cleared Kyiv to use long-range American missiles against military targets inside Russia, a US official told AFP on Sunday, hours after Moscow targeted Ukraine's power grid in a deadly barrage
https://t.co/Vk5vtiEAqu

[Financial Times @FT]

The rate at which US start-ups are going bust is more than seven times higher than in 2019, threatening millions of jobs and risking spillover to the wider economy. https://t.co/E6U7d9MkbJ

[ian bremmer @ianbremmer]

russian chess player amina abakarova caught trying to posion opponent with mercury

if the kremlin can do it...

[Mohamed A. El-Erian @elerianm]

Put me in the camp of those who normally warn about overreactions to a single data release. Having said that, I would caution against the temptation to dismiss today's US jobs report as "noise" -- and for two reasons:
First, and as @johnauthers reminded us with these charts, it is a set of recent data releases (not just one); and
Second, some of us who listen closely to corporate earnings calls have been warning for a while about developing economic weakness.
#economy #markets #econtwitter

[Lisa Abramowicz @lisaabramowicz1]

American excess savings reached $2.1 trillion in 2021, but they ran dry months ago. https://t.co/nOM9Aqrihh

[Bloomberg Markets @markets]

NEW: The yen weakens to the lowest level against the dollar since 1986 https://t.co/RdrgEsgq7a

[Financial Times @FT]

Breaking news: The EU has charged Microsoft with antitrust violations over its video app Teams, the first such antitrust charges brought against the tech giant in more than a decade https://t.co/VmqSCbt6L0

[Bloomberg @business]

BREAKING: China's Chang'e-6 spacecraft touches down, the first to return to Earth from the moon's far side.

Follow our free-to-read live blog for the latest: https://t.co/hsRal7HyN0

[Bloomberg @business]

Japan’s top currency official said authorities stand ready to intervene in the currency markets 24 hours a day if action is deemed necessary https://t.co/EwwKuQGB5L

[Mohamed A. El-Erian @elerianm]

Thanks @lisaabramowicz1
As detailed previously, including in yesterday’s @FT, the US economy is slowing at a faster rate than most currently expect, including the #FederalReserve.
The related risks to economic well-being increase in a world of excessive data dependency by the Fed.
(For background:
https://t.co/Kc24vM5IQn )

[Mohamed A. El-Erian @elerianm]

… and these are from the article, “Pensions Piled Into Private Equity. Now They Can’t Get Out: Retirement funds seek cash while money languishes in zombie investments.”

@wsj #markets #economy #investing #investors

[Bloomberg UK @BloombergUK]

One of the UK’s largest pension funds has said it may consider investing in Thames Water if the stricken utility is restructured and put up for sale https://t.co/iDRp3GOPtx

[Holger Zschaepitz @Schuldensuehner]

Good Morning from #Germany, where car comps are the big losers in the tariff dispute between the EU and China. The European Commission formally notified automakers incl BYD, Geely, and MG owner SAIC Motor of the additional levies on EVs, which will take tariffs to as high as 48% from next month. German manufacturers that produce in China also have to pay tariffs and at the same time fear that China will take countermeasures to affect Chinese sales. Porsche is the biggest loser on the stock market, whose shares have lost 39% within a year. The share has lost part of its premium valuation and is trading at a 2024 P/E ratio of 14.

[Holger Zschaepitz @Schuldensuehner]

Good Morning from #Germany, where the country is falling behind in the global stock market race due to a lack of big tech companies. The value of all German stocks is now only 2.1% of global market capitalization. In 2023, this figure was significantly higher at 2.4%. Only 2 German comps, SAP and Siemens, are among the 100 largest listed companies.

[Atlanta Fed @AtlantaFed]

June 4: View our updated #LaborMarket spider chart with April #JOLTS data: https://t.co/SxLLChrVaR #ATLFedResearch

[Mohamed A. El-Erian @elerianm]

From the @FT article by @MAmdorsky, “ECB ready to start cutting interest rates, says chief economist.”
This will be the first step of a multi-step 2024 divergence between the #FederalReserve on the one hand, and the @ECB and several other European central banks on the other.
That is the easy part of the forecast. The more difficult part relates to the scope for/extent of feasible divergence in a world of uneven spillovers.  This may not be as large as some would hope for given the differences in domestic economic conditions and structures, as well as the current low level of global policy coordination.
More to follow.
#economy #markets #centralbanks #EconTwitter

[Charlie Bilello @charliebilello]

At $2.6 trillion, Nvidia's market cap is now over $900 billion higher than all of the companies in the S&P 500 Energy sector ... combined.

The net income of the Energy sector is $128 billion vs. $43 billion for Nvidia. $NVDA $XLE

Video: https://t.co/4tpiQtpWpJ

[Bloomberg Markets @markets]

Goldman Sachs Chief Executive Officer David Solomon said he currently expects that the Federal Reserve won’t cut interest rates this year https://t.co/7V75K7xBO0

[Mohamed A. El-Erian @elerianm]

From the @FT:
“But Yellen, a former Fed chair, struck an empathetic tone about the pressures facing Americans, while pointing to the administration’s efforts to reduce costs, such as by eliminating so-called “junk fees” that surreptitiously add extra charges on US consumers.
“The cost of living is a problem to a lot of people,” Yellen said in Stresa, Italy. “So I think this is a concern that people legitimately have.”
#economy #markets #inflation #econtwitter