⚡️☢️🗣🇹🇼Recession in factories in Taiwan | Industrial production falls amid weak global demand .
It fell 14.5% last month from a year earlier, the biggest decline since May 2009 - just after the global financial crisis - for any month other than January and February (those months are often misrepresented by the Lunar New Year holiday) .
Structural crisis? Never heard about it...😁
It fell 14.5% last month from a year earlier, the biggest decline since May 2009 - just after the global financial crisis - for any month other than January and February (those months are often misrepresented by the Lunar New Year holiday) .
Structural crisis? Never heard about it...
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☝️☢️🗣 - 🇺🇸🏦〽️American First Republic Bank collapsed 29% after the market opened.
FRB has released statement yesterday after trading day close. What is in there? It shows that in principle it is impossible to rely on bank statements in the context of "Statements of income" when assessing the potential risks of banks.😏
Despite the fact that the FRB was almost destroyed, the bank reported a profit of 229 million compared to 364 million a year earlier.🙈
The problem is that the bank took on super-expensive loans at 4.8% rates, with a weighted average yield on loans of 3.73%, and on securities at 3.08%, creating a huge gap in returns between liabilities and assets, which in the short term will lead to huge losses🤓
And it has reported profit🙈. Now spread this over whole small and mid banking sector and you understand what is going on...🤔
FRB has released statement yesterday after trading day close. What is in there? It shows that in principle it is impossible to rely on bank statements in the context of "Statements of income" when assessing the potential risks of banks.
Despite the fact that the FRB was almost destroyed, the bank reported a profit of 229 million compared to 364 million a year earlier.🙈
The problem is that the bank took on super-expensive loans at 4.8% rates, with a weighted average yield on loans of 3.73%, and on securities at 3.08%, creating a huge gap in returns between liabilities and assets, which in the short term will lead to huge losses
And it has reported profit🙈. Now spread this over whole small and mid banking sector and you understand what is going on...
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☝️☢️🗣 - 🇺🇸According to The Economist , America's banks are missing hundreds of billions of dollars.
They said: over the past year, commercial banks have sunk by half a trillion dollars, a drop of almost 3%. This makes the financial system more fragile as banks have to contract to pay off their deposits.
They said: over the past year, commercial banks have sunk by half a trillion dollars, a drop of almost 3%. This makes the financial system more fragile as banks have to contract to pay off their deposits.
⚡️☢️🇺🇸 🔊Consumer confidence in the US fell to its lowest level since July amid a deteriorating outlook
"Consumers have become more pessimistic about the outlook for both business conditions and the labor market," said Ataman Oziildirim, senior director of economics at the Conference Board.
"Consumers have become more pessimistic about the outlook for both business conditions and the labor market," said Ataman Oziildirim, senior director of economics at the Conference Board.
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⚡️🇺🇸☢️🗣Thus far, one of the key takeaways from this earnings season is that profits have begun to disappoint while revenues have remained resilient.
This is a common trend during a business cycle downturn.Recent reports indicate that corporate profits have fallen by 13%. Source
This is a common trend during a business cycle downturn.Recent reports indicate that corporate profits have fallen by 13%. Source
⚡️🛢☢️🇨🇳Rumors are making rounds that Saudi Arabia is selling oil for yuan, which it converts into gold on the Shanghai International Gold Exchange (SGEI). Zerohedge
The local currency's share of cross-border payments and receipts in China rose to a record high of 48% at the end of the month from near zero in 2010. The share of the dollar fell to 47% from 83% in the same period, the data showed.
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▪️This is a warning from Goldman Sachs Group Inc.'s Scott Rubner, whose data shows that systematic money managers purchased more than $170 billion in global stocks over the past month, bringing fund exposure to its highest level since early 2022.
▪️Now that their positioning is close to peak, this group is more inclined to be sellers in the coming weeks. Shares could be sold for $276 billion in a big downturn.📉
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⚡️🇺🇸☢️🗣There are more and more arguments to launch the QE machine at the FRS: now they have added a shortfall in taxes .
But QE is still not coming. It is difficult to say what is more here: the struggle between competing clans (new money is also new purchases of assets, and if there is no money, then the valuation of assets falls) or stupidity. The bet on a monetary contraction that does not work in conditions of structural inflation leads to exactly the opposite result from the officially declared one. Inflation does not decrease to the desired values, the economy falls into recession and, in addition, the budget crisis. In general, they successfully steered, you can’t say anything. Another six months of such games and we can safely expect a combination of recession + hyper.🤓
But QE is still not coming. It is difficult to say what is more here: the struggle between competing clans (new money is also new purchases of assets, and if there is no money, then the valuation of assets falls) or stupidity. The bet on a monetary contraction that does not work in conditions of structural inflation leads to exactly the opposite result from the officially declared one. Inflation does not decrease to the desired values, the economy falls into recession and, in addition, the budget crisis. In general, they successfully steered, you can’t say anything. Another six months of such games and we can safely expect a combination of recession + hyper.
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⚡️🇺🇸☢️🗣 Tucker Carlson "free" video, after FOX era
⚡️🇺🇸☢️🗣Stocks Face Hit as $800 Billion Stimulus to Fade, Citi Says
▪️Equities and other risk assets will take a hit when central banks withdraw as much as $800 billion of stimulus deployed to prop up the global economy, according to Citigroup Inc.
▪️The risk rally has been fueled by the injection of over $1 trillion of central bank liquidity, and high-frequency liquidity indicators suggest this is already stalling, Matt King, Citi’s global markets strategist, wrote in a note published late Tuesday in New York.
“We now expect almost all of them to stall or go into outright reverse. We think this could subtract $600 billion — 800 billion in global liquidity in coming weeks, undermining risk in the process,” he wrote in the note. “With peak liquidity past, we would not be at all surprised if markets were now to experience a sudden pressure loss,” he said.
▪️Equities and other risk assets will take a hit when central banks withdraw as much as $800 billion of stimulus deployed to prop up the global economy, according to Citigroup Inc.
▪️The risk rally has been fueled by the injection of over $1 trillion of central bank liquidity, and high-frequency liquidity indicators suggest this is already stalling, Matt King, Citi’s global markets strategist, wrote in a note published late Tuesday in New York.
“We now expect almost all of them to stall or go into outright reverse. We think this could subtract $600 billion — 800 billion in global liquidity in coming weeks, undermining risk in the process,” he wrote in the note. “With peak liquidity past, we would not be at all surprised if markets were now to experience a sudden pressure loss,” he said.
🏦🇺🇸 U.S. economic growth slowed more-than-expected in the first quarter as low business investment and destocking held back consumer spending.
▪️US GDP grew by 1.1% in the first quarter of 2023 on the back of the highest consumer spending in almost two years. Household spending growth rate was 3.7%
▪️The median forecast for a Bloomberg poll of economists assumed GDP growth of 1.9% and an increase in personal consumption of 4% year on year.
▪️US GDP grew by 1.1% in the first quarter of 2023 on the back of the highest consumer spending in almost two years. Household spending growth rate was 3.7%
▪️The median forecast for a Bloomberg poll of economists assumed GDP growth of 1.9% and an increase in personal consumption of 4% year on year.
Bloomberg.com
US Economic Growth Slows to 1.1% as Business Investment Slumps
US economic growth slowed in the first quarter by more than expected as tepid business investment and a pullback in inventories tempered a pickup in consumer spending.