- So, Weight Watchers puns (down 25% premarket). Let's have them.... $WW
Newsquawk Wed 11 Aug 2021 11:13 You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
- The street expects US CPI to rise +0.5% M/M in July, and the annual rate to pare back by 0.1ppts to 5.3% Y/Y. The core CPI metric is forecast to rise +0.4% M/M, though the annual rate is seen easing by 0.2ppts to 4.3% Y/Y. UBS' big data analytics flags the possibility of upside to the consensus, noting that food, energy, and core prices all continued higher in the month. The bank is however expecting core goods prices (ex-apparel and transport) to begin falling in the autumn after notable strength in recent years. "We have seen some initial signs of a weakening of supply drivers of inflation in the ISM (lower delivery time and prices paid indexes) and demand drivers in the PCE data (lower share of core goods in consumption spending), but our guess is that the June slowdown was a blip and we are still a few months away from a sustained weakening," the bank wrote. Fed officials' base case still frames inflation upside as transitory, although key policymakers have been hedging...
- Equity bourses/futures are mixed but relatively contained around the unchanged mark in minimal newsflow; ES -0.1%, Euro Stoxx 50 +0.2% USD retains an underlying bid to the detriment of peers across the board though EUR/USD remains above current YTD lows US Senate passed the infrastructure bill as expected, most GOP Senators pledged to not help Democrats on the debt ceiling; subsequently passing the USD 3.5trl Democrat resolution Core debt is subdued pre-CPI as concession ahead of US issuance creeps in though EGBs are off lows post a 2031 Bund outing North Korea said it will make South Korea and the US feel a "massive security crisis every minute" Looking ahead, highlights include US CPI, Fed's Bostic & George, supply from the US
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- adds: "The exercise has become mostly about crafting language to put the other party in a bind" Newsquawk Wed 11 Aug 2021 10:28
- And while politicians pat themselves on the back for doing a hard day's work, Politico notes: "The vote-a-rama is meaningless in some ways. The amendments — as well as the underlying resolution — are all non-binding." Newsquawk Wed 11 Aug 2021 10:28
- $TSLA is planning to produce five more version Model Y at the Shanghai Gigafactory, Electrek reports Newsquawk Wed 11 Aug 2021 10:18
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EQUITIES
European equities (Eurostoxx 50 +0.2%) trade with marginal gains with the Stoxx 600 once again printing a fresh record high. Fresh macro developments for the region remain sparse with some of the discrepancies between individual indices dictated by earnings. The APAC lead was a relatively mixed one, whilst US futures currently trade with marginal losses after the SPX and DJIA rose to record highs during yesterday’s session. Developments stateside have seen the US Senate vote 50-49 to approve the USD 3.5trl Democratic Budget plan and thus pave the way for developing the budget bill and implementing priorities of the Biden administration. Elsewhere, the taper timeline...
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- On a serious note... this from @TheAthletic a few weeks ago explains https://t.co/CZqrvUGBoR Newsquawk Wed 11 Aug 2021 09:43
- PSG chairman Money McMoneybags says PSG would not have signed Messi if it could not meet financial fair play rules https://t.co/o2eIqpRlHf Newsquawk Wed 11 Aug 2021 09:38
- RT @CNBCJulianna: "Being short Dollars doesn't seem like the place to be" - Global Head of FX Strategy, @jpmorgan Private Bank on the bala… Newsquawk Wed 11 Aug 2021 09:33
- UBS says it matters because the so-called "flippening" reflects network effects that drive prices ... also significant as these two embody competing visions Newsquawk Wed 11 Aug 2021 09:08
- UBS: $BTC vs $ETH * Biggest debate in crypto: if/when ETH might wrest BTC's crown * BTC "market cap" more than 2x, still has ~two-thirds more active addresses * But ETH is starting to gain in traded volumes, trade intensity, transaction counts, overall fees #TheFlippening https://t.co/YGhw0xZCOa Newsquawk Wed 11 Aug 2021 09:08
- Leaving jokes about the summer's footie aside... Credit Agricole: $GBP The Champion of Europe https://t.co/b0jqSxWLWR Newsquawk Wed 11 Aug 2021 08:58
- RT @AbasAslani: #Iran president Raisi submits the list of candidates for his cabinet to the parliament: Amirabdollahian as Foreign Minister… Newsquawk Wed 11 Aug 2021 08:53
- Tim Duy Fed timeline: Moves tapering ball fwd again in Sep (perhaps with language to the effect that the economy is “on track” to make substantial progress), formally announces taper in Nov and begins tapering soon thereafter over a course of 9 months, and hikes rates in Q1'23 Newsquawk Wed 11 Aug 2021 07:53
- European Movers: Spirax-Sarco +4.5% Avast +3.6% ABN AMRO +3.5% Admiral +1.6% Vestas -7.0% ThyssenKrupp -4.0% Evotec -2.0% E.ON -0.4% Newsquawk Wed 11 Aug 2021 07:07
- ING: We may well have seen the trough in both USD and EUR rates this summer, but we expect USD rates will rise much faster from here. With Fed tapering coming into view, the divergence with ECB QE policy will become more obvious. Newsquawk Wed 11 Aug 2021 06:42
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