In today’s briefing:
- Ohayo Japan | US Stocks/Bond Sell Off (Again) On Debt Impass;NUGGET: Sapporo HD-Using AI to Get Edge
- Where Are We in the Semiconductor Cycle?
- SPAC Talk : Terminal Value
Ohayo Japan | US Stocks/Bond Sell Off (Again) On Debt Impass;NUGGET: Sapporo HD-Using AI to Get Edge
- OVERSEAS. SPX -0.7%, down again on inability to get a debt deal; Yellen’s warnings keep coming; Fed Minutes – Officials mixed on hikes/pause; NVIDIA-BLOW OUT AI DRIVEN GUIDANCE
- JAPAN. NKY Futs -0.3% Discount to Cash; US debt limit weighs on Japans; Fujitsu MTP – to return ¥600bn to shareholders over 3 yrs; Watch Advantest today on NVIDIA’s guidance
- NUGGET. Next Gen drinks development takes off as Sapporo Holdings(2501 JP) seeks competitive edge in drinks development by using AI
Where Are We in the Semiconductor Cycle?
- The steep part of the chip collapse has run its course, and prices are now following cost
- Revenues will rise once demand growth fully offsets price decreases, probably in the fourth quarter
- The market will regain profitability only after a new shortage develops, which may be the middle of 2024
SPAC Talk : Terminal Value
- At the risk of sounding monotonous, while the SPAC IPO market remains pretty much comatose, there continues to be solid flow of liquidations.
- The number of SPACs electing to liquidate their trust funds has risen to 19 for May and scheduled for June thus far.
- YTD, 107 SPACs have thrown in the towel and elected to liquidate.
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