Goldman ripped up their 2023 f'casts last wk...JPM turned bullish EUR over the weekend...MS now doing the same...that year-ahead consensus lasted a grand total of 16 days...
In these dark hours, tonight the colours of the Ukrainian flag shine bright on the
@EU_Commission
headquarters.
A symbol of our solidarity. Friendship. And steadfast support.
More than ever, the EU stands with Ukraine and its people.
"In the long term, Moderna aims to develop an annual supershot that could suppress numerous respiratory ailments, including Covid, flu, and others. 'Our goal is to give you several mRNAs in a single shot at your local CVS or GP every August or September'"
Watch again: President
@Lagarde
responds to criticism about negative interest rates and describes how they support companies and people in the eurozone
UK tax system has no incentive to save/invest at this point...income tax brackets frozen = more in higher bands thus lower tax free savings allowance...dividend allowance cut in half...CGT allowance too, and set to be halved again nxt yr...absolutely nonsensical policymaking...
wtf have they been smoking!?
TESLA INC, IN AN SEC FILING, SAYS EFFECTIVE AS OF MARCH 15, "TITLES OF ELON MUSK AND ZACH KIRKHORN HAVE CHANGED TO TECHNOKING OF TESLA AND MASTER OF COIN"
549,943 vaccine doses given in England yesterday, just shy of 1% of the entire population in a single day, we’re finally crushing this damn virus...a huge achievement by all involved!!
French government is giving over 30m people a one-off €100 "inflation compensation" payment. Multi-billion euro giveaway that some people will get in early 2022, ahead of elections in April.
Guess we will revisit those EU budget rules a but later then.
FT article on this morning's eurozone GDP...not one mention of the word "recession"...if the UK had 2 consecutive Qs of contraction, they'd be screaming about it on the front page...absolutely awful paper with shockingly low standards...
per Zoopla on UK housing...the crunch begins..."The number of homes hitting the market in May was 18% higher than the five-year average, while the number of buyers fell by 14% compared to the average"
h/t
@John_Stepek
That’s me done & dusted in front of the screens for 2022; what a 12 months it has been.
Thanks for the many laughs, jokes, insights & debates through the year - it all makes this much more fun!
Merry Christmas & Happy New Year to all! 🍻🎄
Spot on, Rishi. SPOT ON!
"Rishi Sunak has told young people that going into the office can be “really beneficial” to their careers and warned that video conferencing was no substitute."
How the hell is someone as incompetent as this employed as a policymaker?!
Give me strength.
*BOE'S TENREYRO LOOSER MONETARY POLICY NEEDED TO MEET CPI GOAL
*BOE'S TENREYRO SAYS IT'S A `MYTH' THAT QE IS MONEY PRINTING
*BOE'S TENREYRO SAYS COULDN'T AVOID INFLATION SURGE
JPM - hard landing for UK economy "looks increasingly likely", baseline f'cast is for peak Bank Rate @ 5.75%, sees risk BoE may need to hike as far as 7% (!!!) if elevated wage growth continues to offset impact of rising mortgage ates
Inflation takes are getting ridiculous...currently reading a piece referencing "inflation ex-food, energy, goods, education, holidays & airfares" to justify why BoE might pause...basically, strip out everything you can until you get a figure that justifies your priors...
This is just a bloody shambles...jobs market starting to soften, inflation sticky >10%, activity rolling over...BoE +25bp next month but Old Lady still itching to hit the pause button even tho no light @ end of tunnel...not sure how this is constructive for GBP m/t or l/t...
This is not a drill - Morgan Stanley's Mike Wilson turns bullish...
"with Powell not pushing back on the easing in financial conditions, equities appear to have the green light to ramp higher"
7mths running of CPI > 10%...9mths since we first broke the 10% mark...BoE can talk lagged policy effects & f'cast inflation falling as much as they like...but reality is they've failed at their sole job...this chart should be pinned on the wall of every office on Threadneedle St
ECB sources have come out to play again...why they can't say this damn stuff in the presser or statement is beyond me...yet they harp on about 'transparency' the entire time... 🙄
If BoE do nowt then core inflation will get worse…if BoE hike a little then it has no impact on inflation but dents growth…if BoE hike a lot then it has impact on inflation but kills economy…no good options & all a mess of their own incompetent making…
Jeremy Clarkson got it spot on when he described most of the people on this site - “Twitter now is just an opportunity for very left-wing people to express increasingly left-wing views to other left-wing people.”