July 19, 2022
RT @tobi: Can't stop thinking about this and go: ☹️ "The reason we don't have fusion already is because we, as a civilization, never deci…
RT @tobi: Can't stop thinking about this and go: ☹️ "The reason we don't have fusion already is because we, as a civilization, never deci…
RT @SStapczynski: Japan bought its most expensive LNG shipment ever as an escalating global energy crunch intensifies competition for fuel…
RT @elinaribakova: 50% of Russia's enterprises appear to have found new suppliers (end June), up from 1/3 in April. Only 3% say replacement…
RT @stefeich: 🇬🇧🇬🇧🇬🇧This sweltering record hot July day is also (finally!) the UK publication day for THE CURRENCY OF POLITICS 🇬🇧🇬🇧🇬🇧 Get…
RT @RobinBrooksIIF: Good illustration how segmented Russia is from global markets that its central bank is cutting rates (dots) while every…
“Surging short-term rates, flattening yield curves and inverted yield curve -> cash not just a safe place, but also a profitable place for investors to wait as they evaluate how to optimise their portfolios for the future,” Larry Fink on why MMF are back! ft.com/content/7195fd… https://t.co/fnFKjKh6NT
ECB transmission protection mechanism wants to preserve a polite distinction btw political risk & market speculation. But Lars Feld will have none of it: "market pricing will have some disciplining effect on political decisions and we should let it work.” ft.com/content/2d2fae… https://t.co/dH7ZdMW4GS
Gazprom declares Force Majeure on some European Gas Buyers in a letter dated July 14th. bloomberg.com/europe?sref=wO… https://t.co/WCBMIywtEz
Global consumer confidence is at historic low levels, below those recorded in 2008-2009! thedailyshot.com/2022/07/18/job… https://t.co/qluPKYnqYa
Yen weakness not just against $ but also against renminbi is shifting the competitive game in East Asia against China. thedailyshot.com/2022/07/18/job… https://t.co/9sV6BQkl9w
Polysilicon prices are at levels not seen since the 2011 price crash. thedailyshot.com/2022/07/18/job… https://t.co/vDcDzVLfrU
The vast majority of China's major cities are now experiencing yoy decline in real estate prices. thedailyshot.com/2022/07/18/job… https://t.co/ehdh06YZvu
The gap btw EU house price inflation and rents over the last decade is dramatic. thedailyshot.com/2022/07/18/job… https://t.co/9FPvTJ9zPt
As Federal receipts rebound and COIVD emergency spending rolls off, the US Federal government is currently in surplus. thedailyshot.com/2022/07/18/job… https://t.co/64GWz93upp
The de facto tightening of US fiscal policy in 2022 was highlighted in a recent column by @economistmeg Data here from @SoberLook It is a major drag on aggregate demand. thedailyshot.com/2022/07/18/job… https://t.co/uFWiJT57AS
US 10yr-2yr yield curve is properly inverted & Fed beige book sentiment indicators are both signaling a recession. thedailyshot.com/2022/07/18/job… https://t.co/bCUv8anXk9
In 2019 Venezuela unilaterally closed the 2200 km border with Colombia with ruinous impact on regional economy. Can the election of a new left-wing government in Colombia, restore more normal relations? And at what price? ft.com/content/6056a6… https://t.co/mlk2GxjTM5
At start of July Airbus signed deal for 292 A320 planes worth c. $37bn with a combination of state-owned Chinese carriers -> consolidates it lead over Boeing in the single-aisle class. Also confirms China's decisive influence over future of the industry. ft.com/content/3692b2… https://t.co/brEUYsdOA0
Both Boeing and Airbus rely heavily on Russia for supplies of vital titanium -> sanctions cast a pall of aircraft industry. ft.com/content/b5da8c… https://t.co/1e7mii28Hw
"The US is undergoing the second largest fiscal retrenchment in its history, which will cool demand." @economistmeg makes a hugely underrated point here. US fiscal policy right now is undergoing serious contraction! ft.com/content/63daf2… https://t.co/kOUrrXL0K0
RT @RobinBrooksIIF: Lots of distress in frontier markets, but that has ZERO relevance for the big systemic EMs. The big EMs learned long ag…
RT @RobinBrooksIIF: Difficult times for frontier markets. Most important lesson: do NOT peg to US Dollar. Egypt devalued in 2016 and 2022 (…
RT @RobinBrooksIIF: Except for Chile, foreign investor interest in LatAm stagnated in the past decade. Foreign holdings of stocks & bonds w…
RT @RobinBrooksIIF: Cumulative real per capita GDP growth (from 2007 to 2021, in %) 1. USA (black): +12.9% 2. Sweden (grey): +10.4% 3. Ge…
RT @IsabellaMWeber: Our proposal with @SDullien for a cap on the price of households‘ basic natural gas needs is now widely discussed under…
RT @johnauthers: Very very much worth your time: twitter.com/simonh_dk/stat…
The European Commission will next week provide members with voluntary gas reduction targets ft.com/content/0b42d3… https://t.co/oZ1NwLSWcA
Sophia Loren pictured in her 300 SL in 1956 © Bridgeman Images ft.com/content/f8ecf1… https://t.co/nzsVPcU9yb
“The most important thing now is to get a clear demand signal"m Kathy Warden, CEO of Northrop Grumman on what the US mil-industrial complex needs to meet Ukraine war needs. ft.com/content/0f987e… Pairs well with Chartbook #120 on St Javelin adamtooze.substack.com/p/chartbook-12… https://t.co/kspnPUXbis
$52bn has been pulled out of EM bond funds this year. Emerging economies, depending on how you do the sums, account for a third to a half of global GDP. Their access to funding matters to global growth. @rbrtrmstrng excellent in unhedged today. ft.com/content/c67547… https://t.co/gglGmZuiqu
"dollar smile”: USD tends to rise when US econ is strong as capital flows to US assets. When US econ is wobbling -> whole world in trouble -> USD assets become safe havens. Only co-ordinated global growth reliably weakens USD. We are now @ safe-haven end. ft.com/content/c67547… https://t.co/0bPPG6sWqi
In 2021-2022 tightening, slow movement by Fed -> EM are ahead of curve. August Carstens of BIS “now they started very early on and what you can see is that they have managed to keep their exchange rates quite stable”. ft.com/content/d189b2… https://t.co/jUq7d1lkSU
In a world of central bank tightening, Hungary stands out, with its key policy rate up 385 basis points in just two months as the country faces inflation and a currency depreciation against the dollar at double digit rates. ft.com/content/d189b2… https://t.co/7jy0Ibj7z7
"A FT analysis found that central banks are now, more than at any other time this century, opting for large rate rises of 50 basis points or more, laying bare the challenges of tackling price pressures and higher US rates." Reverse currency wars. ft.com/content/d189b2… https://t.co/kb920Vj2zz
Rolls-Royce plans to test whether hydrogen can safely power a small aircraft in ground trials. Airbus is working with CFM International (Safran/GE) on a hydrogen burning engine. Global aviation needs options beyond sustainable fuels. ft.com/content/17f9d9… https://t.co/YwC3QzeCTO
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