AI Generated Content, Heteronomics

Heteronomics AI

AI Generated Content

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul><li>The Euro area unemployment rate stayed at 6.4% in May 2024, indicating a stable labour market as it is below long-run and one-year averages.</li><li>Economic indicators showed moderate GDP and employment growth, reflecting a cautious sentiment in the market.</li><li>Services sector is expanding while the manufacturing sector is contracting, suggesting sector-specific challenges and potential inflationary pressures.</li></ul><div><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></div>

The Euro area unemployment rate stayed at 6.4% in May 2024, indicating a stable labour market as it is below long-run and one-year averages.Economic indicators showed moderate GDP and employment growth, reflecting a cautious sentiment in the market.Services sector is expanding while the manufacturing sector is contracting, suggesting sector-specific challenges and potential inflationary pressures.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Euro area Unemployment Rate 6.4% (consensus 6.4) in May-24

Chief Economist, Heteronomics

Phil Rush

Chief Economist

<ul><li>EA inflation matched consensus expectations of 2.5% y-o-y in June despite German softness as a Benelux surge offset it, with the outcome 6bps above our forecast.</li><li>Services inflation was responsible for the upside again, as it was worryingly stuck at 4.1%, suggesting there has been no underlying progress in the past several months.</li><li>The stability of headline outcomes to past expectations reassures the ECB, keeping September alive for another cut, assuming its peers deliver on their bias to start soon.</li></ul><p></p>

EA inflation matched consensus expectations of 2.5% y-o-y in June despite German softness as a Benelux surge offset it, with the outcome 6bps above our forecast.Services inflation was responsible for the upside again, as it was worryingly stuck at 4.1%, suggesting there has been no underlying progress in the past several months.The stability of headline outcomes to past expectations reassures the ECB, keeping September alive for another cut, assuming its peers deliver on their bias to start soon.

External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

External broker reports(aggregated public sources)

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<div><ul><li>The Nevi Purchasing Managers' Index fell from 52.5 to 50.7 for the month of June.</li><li>The recovery of the Dutch manufacturing industry is still continuing, but is clearly slowing down.</li><li>A slight decrease in the number of new export orders is one culprit.</li></ul></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Nevi Purchasing Managers' Index fell from 52.5 to 50.7 for the month of June.The recovery of the Dutch manufacturing industry is still continuing, but is clearly slowing down.A slight decrease in the number of new export orders is one culprit.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Slight Decline in Exports Slows Down Recovery in Dutch Manufacturing Industry

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Government Hikes Windfall Tax on Crude Oil to Rs.6,000 per Tonne from Rs.3,250</li>
<li>Larsen &amp; Turbo Secures Significant Offshore Order worth Rs. 2,500 crores from ONGC</li>
<li>Mahindra &amp; Mahindra Total volume Rise 11% YoY to 69,397 Units in June 2024</li>
</ul>


Government Hikes Windfall Tax on Crude Oil to Rs.6,000 per Tonne from Rs.3,250
Larsen &amp; Turbo Secures Significant Offshore Order worth Rs. 2,500 crores from ONGC
Mahindra &amp; Mahindra Total volume Rise 11% YoY to 69,397 Units in June 2024


#22 India Insight: Increase in Windfall Tax on Crude Oil, L&T Offshore Order, M&M Volume Rise

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Greetings from Copenhagen! We’ll take a look at freight rates, copper, and crude from an inflation angle.</li><li>But before we do that, let’s have a quick look at Henry Hub.</li><li>The front-month Henry Hub natural gas prices continue to face downward pressure, primarily influenced by an abundance in gas stock levels.</li></ul>

Greetings from Copenhagen! We’ll take a look at freight rates, copper, and crude from an inflation angle.But before we do that, let’s have a quick look at Henry Hub.The front-month Henry Hub natural gas prices continue to face downward pressure, primarily influenced by an abundance in gas stock levels.

Energy Cable: Increases in freight rates not transferring into goods inflation (for now)

Netherlands
Insights on Netherlands

Euro area Unemployment Rate 6.4% (consensus 6.4) in May-24

The Euro area unemployment rate stayed at 6.4% in May 2024, indicating a stable labour market as it is below long-run and one-year...

Heteronomics AI

EA: ECB Not Yet Stuck By Service Prices

EA inflation matched consensus expectations of 2.5% y-o-y in June despite German softness as a Benelux surge offset it, with the outcome 6bps...

Phil Rush

Slight Decline in Exports Slows Down Recovery in Dutch Manufacturing Industry

The Nevi Purchasing Managers' Index fell from 52.5 to 50.7 for the month of June. The recovery of the Dutch manufacturing industry is still...

ABN AMRO

#22 India Insight: Increase in Windfall Tax on Crude Oil, L&T Offshore Order, M&M Volume Rise

Government increases windfall tax on crude oil, Larsen & Turbo wins Rs. 2,500 crore offshore order from ONGC, Mahindra & Mahindra sees 11% YoY...

Sudarshan Bhandari

Energy Cable: Increases in freight rates not transferring into goods inflation (for now)

Greetings from Copenhagen! We’ll take a look at freight rates, copper, and crude from an inflation angle. But before we do that, let’s have a...

Steno Research

Euro area Unemployment Rate 6.4% (consensus 6.4) in May-24

The Euro area unemployment rate stayed at 6.4% in May 2024, indicating a stable labour market as it is below long-run and one-year...

Heteronomics AI

EA: ECB Not Yet Stuck By Service Prices

EA inflation matched consensus expectations of 2.5% y-o-y in June despite German softness as a Benelux surge offset it, with the outcome 6bps...

Phil Rush

Slight Decline in Exports Slows Down Recovery in Dutch Manufacturing Industry

The Nevi Purchasing Managers' Index fell from 52.5 to 50.7 for the month of June. The recovery of the Dutch manufacturing industry is still...

ABN AMRO

#22 India Insight: Increase in Windfall Tax on Crude Oil, L&T Offshore Order, M&M Volume Rise

​Government increases windfall tax on crude oil, Larsen & Turbo wins Rs. 2,500 crore offshore order from ONGC, Mahindra & Mahindra sees 11% YoY...

Sudarshan Bhandari

Energy Cable: Increases in freight rates not transferring into goods inflation (for now)

Greetings from Copenhagen! We’ll take a look at freight rates, copper, and crude from an inflation angle. But before we do that, let’s have a...

Steno Research

Government increases windfall tax on crude oil, Larsen & Turbo wins Rs. 2,500 crore offshore order from ONGC, Mahindra & Mahindra sees 11% YoY...