In today’s briefing:
- CX Daily: Marriage Loses Its Luster in China
- Ifo Watch: Signs of Disinflation Bottoming Out in Germany?
- Portfolio Watch: Equities Running Out of Gas?
- The Weekly Market Monitor – Reality Check!
CX Daily: Marriage Loses Its Luster in China
- Marriage / Charts of the Day: Marriage loses its luster in China
China-U.S. /: Xi calls for stable ties in meeting with California Governor Newsom
Zhongzhi /: Shareholder in Zhongzhi-linked trust firm delists amid deepening liquidity crisis
Ifo Watch: Signs of Disinflation Bottoming Out in Germany?
- Takeaways: Some very gloomy signs in the IFO survey details with Capital Goods production expectations nose-diving in a recessionary fashionOn the other hand, the highly cyclical Chemicals industry, a large consumer of Natural Gas, is rebounding for the third month running.
- Price pressures remain low in the forward looking survey, but there are signs of a stabilization/rebound.
- EUR-flation is likely to bottom below 2%, but price pressures could re-emerge already during the spring according to the Ifo Survey.
Portfolio Watch: Equities Running Out of Gas?
- Welcome to our weekly Portfolio Watch! Every week, we assess the risk/reward across asset classes and explain our decisions in our own portfolio.
- We once again note the great diversification effects from Energy over the past week.
- Front month Nat Gas has been on the move in the US despite relatively weak flow data, which is a strong harbinger of an improving underlying demand dynamic in the industrial sector due to the tick-up in orders books in cyclical- and energy intensive sectors such as Chemicals.
The Weekly Market Monitor – Reality Check!
- This week, the approval of a spot Bitcoin ETF took another leap forward. And a poll among investors reveals that this will be a game-changer.
- Equities tumbled again, and earnings are to blame. Google is down hard as the ‘Magnificent 7’ delivered mixed earnings, nowhere near good enough, given they are priced for perfection!
- And that’s not all. The spike in real yields suggests a whopping decline of 25%(!) of the P/E ratio of the S&P 500 Index.
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