Morning Brew November 9 2021
Senior Relationship Manager
Summary: Are we too certain of y year end rally? Cryptos at ATH
After everybody called for a year end rally, equities seem scared of their strength, triggered not least by Elon Musk’s tweet if he should sell 10% of his stock holdings. Tesla fell app 5% yesterday. The Dow lost 0.3% and S&P500 as well as the Nasdaq 0.1%. The Dax so far fails to reach new highs and trades at 16015 in the December future.
US Yields remain below 1.50 and the USD under pressure, EURUSD trades near 1.16 after testing the 1.15 to the downside last week, the USD Index trades just below the 94 level and GBPUSD at 1.3570. Gold and Silver at 1824 and 24.40, Gold needs to break the 1835 for significant upside potential, currently we remain in the range.
Bitcoin and Ether trade at new all-time highs at 68000 and 4810
Todays agenda is slim with only the ZEW at 11:00 but tomorrow the US CPI will be released at 14:30 and will be the center of attention.
Reuters reports of high level meetings in China, suggesting there is a lot of attention on the real estate crisis in the country. Rating agency Fitch is downgrading Kasia to CCC on liquidity worries.
Softbank shares can rise by 10% on an announced share repurchase
Today: Bayer AG , Coinbase Global, NIO, DoorDash, National Australia Bank, BioNTech, Palantir Technologies
Wednesday: Credit Agricole SA, adidas AG, afirm Holdings, Walt Disney Infenion, Allianz, NTT, Tencent and EDF
Thursday: Siemens, Merck, Brookfield Coupang
Friday: Pingduoduo, Deuschte Telekom, Cie Financiere Richemont, Tokyo Electron, Sumitomo Mitsui Financial
Astrea Zendca Hapag Lloyd
Latest Market Insights
Quarterly Outlook Q3 2022: The Runaway Train
- Central banks' attempts to kill inflation is a paradigm shift, which could end in a deep recession.
Tangible assets and profitable growth are the winnersWith US equities officially in a bear market, the big question is where and when is the bottom in the current drawdown?
Understanding the lack of investment appetite among oil majorsThe everything rally seen in recent quarters has become more uneven, as its strength is driven by commodities in short supply.
The pressure is on as the wind leaves the sailsWith cryptocurrencies in sharp decline, are we entering a crypto winter or is the bear market a healthy clean-up of the crypto space?
Why the Fed can never catch up and what turns the US dollar lower?Many other central banks are set to eventually outpace the Fed in hiking rates, taking their real interest rates to levels higher than the Fed will achieve.
Bank of Japan: Swimming against the tideThe Japanese economy has gone from the age of deflation to rapidly rising prices in no time, leaving the Bank of Japan in a pickle.
Green transformation detour and bear market hibernationWith the impending risk of global econonomic derailment, we share the five things investors need to consider in this new half year.
Crisis redux for the eurozone?Whether there's going to be a recession in Europe or not, the path towards a stable economy will be agonizing.
Technical Outlook: Gold, Oil and a remarkable multi-decade perspective on EquitiesThe Nasdaq bubble pattern, USDJPY resistance, crude oil uptrend losing steam and the technical outlook for USD.
China: the train of new development paradigm left the station two years agoChina is transiting to a new development paradigm, as they are hit by deteriorating terms of trade, a slower global economy and an uncertain future while continuing attempts to contain the pandemic.