Prior +1.1%; revised to -1.3%Industrial production -1.5% vs +0.6% y/y expectedPrior +3.3%; revised to +0.2%The headline reading is not as great as what the details might suggest. The October reading was sharply revised lower to a decline of 1.3% from a growth of 1.1% previously. That also left a dra

Paul Tudor
Jones is a famous billionaire hedge fund manager. In an interview he gave to
Jack Schwager and later published in the book “Market Wizards”, Tudor Jones
reveals that he “doesn’t just use a price stop, but also a time stop”.

 

Beginner
trade

Sees at least three rate hikes this yearMarch is a reasonable date to start rate hike, balance sheet runoff should begin „soon after“There is a risk inflation is likely to be elevated for extended period of timeFed needs to respond directly, clearly, and aggressivelyA fast balance sheet runoff would

Prior 98.4That’s a modest increase in small business sentiment last month despite growing concerns on inflation and worker shortages. The survey also showed that the share of owners raising average selling prices fell slightly from 59% to 57% in December. So, that is perhaps a signal that businesses

Inflation outlook extraordinarily uncertain
Risks are skewed toward higher inflation than now expected

That is some reassurance that he will be keeping the German tradition alive on policy shop talk. It will be interesting to see how his view challenges the rest of the policymakers at the

European equities are pulling higher with gains sitting around 1% across the board. This comes as US futures are also nudging higher with S&P 500 futures now up 0.4%, Nasdaq futures up 0.6%, and Dow futures up 0.3%. As noted earlier:“The risk mood will be a key driver of trading sentiment today foll

We understand that rising prices are a concern for many peopleAnd we take that concern very seriouslyPeople can trust that our commitment to price stability is unwaveringThat is critical to firmly anchor inflation expectations and vital for confidence in the euro currencyHer full speech can be found

Bond yields got off to a hot start earlier in the day but have pulled back considerably in the last hour or so. 10-year Treasury yields are now flat around 1.77% after hitting a two-year high just above 1.80% earlier.

In turn, that has seen USD/JPY also pull back on the session from 115.6

On the downgrade, Moody’s says that:“The rating action reflects our expectation that Shimao’s liquidity risks will be elevated, driven by its weakening access to funding and large near-term debt maturities.The review for downgrade reflects the uncertainty over the company’s ability to generate new f

We need to move toward normalisation“Certainly conceivable“ that Fed can raise rates in MarchExpects inflation pressures to ease later in the yearBut supply chain issues may persist into 2023, adding uncertainty to the outlookJob market is „as tight as it could be“ at this pointFull interview (may b