A weaker China will hurt Asia's commodities market, said Sean Yokota of SEB

Eurozone returns to growth in second quarter as inflation falls on.ft.com/3OASfAd

South America braced for economic hit from return of El Niño on.ft.com/3QeuHSV

I keep being asked what I make of the UFO thing in Congress yesterday, so here it is: I watched a few clips and saw some people who seemed to believe stuff saying extraordinary things without presenting extraordinary evidence. Therefore I have nothing more to say, other than: It

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Dow Jones prints fresh session low at 75.68. #forex #dow jones #index #pricemoves #news #forex market #technicalanalsis #windsorbrokers

By my estimates, Putin's rating in Russia fell below 30% in the 24 hours of Prigozhin's 'coup d'etat'. The bloody murderer turned into a limping duck, his 'macho' image shattered both in Russia and abroad

It's really like Russia had two presidents today - the real one, a

Robert Peston Oh jeez Robert Peston please stop.

Germany also has its highest borrowing cost since 2009.

It is lower than the UK because the Eurozone has a chronic deflationary problem due to its large unemployed population and they all bring each other down.
Also, Germany has lower debt-GDP.

Normally, you’d hear about the authority telling banks to steer clear of medium of money laundering. ft.com/content/da31d2…

A brief thread on gilts. Apologies, it's an arcane subject. But the market in government debt, much more than the Bank of England, determines the interest rate homeowners and businesses pay. Today, the yield on 2 year money rose by 26 basis points. 1/6

.@NVIDIA is now the fifth largest U.S. company by market cap, ahead of Buffett’s Berkshire Hathaway. Find out why in the latest Frank Talk: ow.ly/ULu550OCs1c

Check out this article: Hong Kong’s Hang Seng drops more than 2% with tech stocks under pressure; yen strengthens worldfin.news/hong-kongs-han… #businessnews #finance

This is going to be huge. As a regular in HK there is a real buzz about crypto in HK. Get in quick.

Inflows into municipal bond mutual funds were positive for the sixth straight week, bringing total net inflows in 2023 to $8.4 billion. Compare that to the same time last year, when investors yanked some $9.1 billion out of muni funds.

QT vs asset prices J.P. Morgan

'QE by its nature is a giant swap, inserting cash (reserves) into the econ system, and removing non-cash assets (govt bonds, mortgages, and sometimes even corp bonds and ETFs)...'

1/3

am.jpmorgan.com/us/en/asset-ma…

Sofia Horta e Costa Onshore funds could have also added to this by reallocating their exposure from onshore A shares to offshore China listings in HK, especially during the dip.

MSCI China A at ~2x P/B vs offshore $HSI at ~1x.

More evidence that international funds are reducing their China exposure. I charted the average daily net flows in/out of mainland stocks via the two exchange links with Hong Kong. That's the pink line.

This month's pink line is the most negative in history.

Transfer on death and payable on death designations are a simple way to pass accounts to your heirs. Learn about their advantages and disadvantages. #WealthPlanning