Bloomberg Surveillance TV: April 24, 2024
==========
The Bloomberg Surveillance TV episode on April 24, 2024, covers the latest in finance, economics, and investment. The episode features interviews with Kate Moore, Head of Thematic Strategy at BlackRock Global Allocation Team, Tiffany Wilding, Managing Director at PIMCO, and Henrietta Treyz, Director of Economic Policy Research at Veda Partners. Kate Moore discusses the upcoming week for Big Tech earnings and the critical questions they need to answer about the equity market. Tiffany Wilding looks ahead to key GDP and inflation data, noting that the 'hot' US economy is not consistent with moderating inflationary pressures. Henrietta Treyz comments on Congress' new aid package for Ukraine, Israel, and Taiwan, suggesting that Congress members want to be on the right side of history. The episode is available as a podcast.
https://www.bloomberg.com/news/audio/2024-04-24/bloomberg-surveillance-tv-april-24-2024
nostr:note1x563lh7ph5d4x27af32kqwkpa67g89z6uydvjvjfw577a0wqhahqtuvk04
Bloomberg Surveillance TV: April 24, 2024
==========
The Bloomberg Surveillance TV episode on April 24, 2024, covers the latest in finance, economics, and investment. The episode features interviews with Kate Moore, Head of Thematic Strategy at BlackRock Global Allocation Team, Tiffany Wilding, Managing Director at PIMCO, and Henrietta Treyz, Director of Economic Policy Research at Veda Partners. Kate Moore discusses the upcoming week for Big Tech earnings and the critical questions they need to answer about the equity market. Tiffany Wilding looks ahead to key GDP and inflation data, noting that the 'hot' US economy is not consistent with moderating inflationary pressures. Henrietta Treyz comments on Congress' new aid package for Ukraine, Israel, and Taiwan, suggesting that Congress members want to be on the right side of history. The episode is available as a podcast.
https://www.bloomberg.com/news/audio/2024-04-24/bloomberg-surveillance-tv-april-24-2024
nostr:note17c86ja328j4vkl5430yfr96d3vx5ywlum55mhnue33j5p44gy9js9xgnt7
Artificial Intelligence Offers an Opportunity to Improve EV Batteries
==========
Chemix, an AI-powered EV battery developer, has completed a $20 million Series A funding round led by Ibex Investors. The startup uses algorithms to design and optimize novel batteries for electric vehicle makers. The funding will be used to scale its technology. AI offers an opportunity to improve EV batteries by speeding up battery development, ensuring EVs are more efficient and can stay on the road longer.
Risks of War Are Weighing on Europe’s Leaders
==========
Europe's leaders are preparing for the risk of a new war on the continent following Russia's invasion of Ukraine. German soldiers participated in a multinational training exercise in Hohenfels, Germany. The article discusses the concerns and preparations of European leaders in response to the escalating tensions. The author is Karl Maier and the article was published on April 24, 2024.
Morgan Stanley’s Wilson Is Steering Clear of Bold S&P 500 Calls
==========
Morgan Stanley's Mike Wilson is avoiding making bold S&P 500 calls and instead focusing on finding opportunities beneath the surface. Wilson, the firm's chief US equity strategist, stated that they haven't talked much about the index in the last four or five months and are trying to focus on relative-value trades.
Bloomberg Surveillance: Rates and Media
==========
The Bloomberg Surveillance podcast hosted by Tom Keene and Paul Sweeney covers the latest in finance, economics, and investment. In this episode on April 23rd, 2024, the following topics were discussed: Stephen Stanley, Chief Economist at Santander, talked about recent inflation data and what the Fed is watching this week. Thierry Wizman, Director: Global Currencies & Interest Rate Strategist at Macquarie Futures, discussed FX weakness, volatility, and what the bond market is signaling about the US economic outlook. Ian Whittaker, Managing Director and Owner at Liberty Sky Advisors, shared insights on streaming wars, Meta earnings, and tech regulation. Lisa Mateo presented newspaper headlines. The podcast is available on YouTube and a newsletter can be subscribed to on the Bloomberg website.
https://www.bloomberg.com/news/audio/2024-04-23/bloomberg-surveillance-rates-and-media-podcast
Bets on Old Economy Stocks Lift European Fund Above Its Peers
==========
Daniel Avigad, manager of Lansdowne Partners' $2.6 billion long-only European equity strategy, has outperformed the benchmark index by betting on old-economy stocks such as industrials and electrical engineering. The TM Lansdowne European Special Situations Fund has gained nearly 14% in the past year, beating the MSCI Europe Net Total Return Index. Avigad has stayed away from Europe's luxury and consumer-related stocks and focuses on identifying cash generative business models that can return money and grow. The fund's top holdings include Schneider Electric, Vinci, and Michelin.
#EuropeanFund #EquityStrategy #OldeconomyStocks #Industrials #ElectricalEngineering #BenchmarkIndex #Outperformance #CashGenerativeBusinessModels #LuxuryStocks #ConsumerrelatedStocks #SchneiderElectric #Vinci #Michelin
State Street's Farley: US, Global Economy Reasonably Strong
==========
Dan Farley, State Street Global Advisors, Investment Solutions Group CIO, discusses the US and global economy, Fed moves, and bank earnings. He believes that in the near term, the US and global economy are reasonably strong and that earnings need to deliver to support valuations. However, he sees red flags and warns of potential vulnerabilities in the future. Farley also discusses the concentration of certain stocks, the Fed's restrictive stance, and the impact of economic strength on corporate profitability and consumer resilience. He mentions cracks in employment data and the mix between full-time and part-time employment. Farley is less overweight on US equities and overweight on cash, but still likes high-yield investments and gold. He believes that the carry on higher yields and the technical factors support these investments. Farley also mentions the impact of central bank buying on gold prices. Overall, he sees a reasonably strong economy in the near term but warns of potential challenges in the future.
https://www.bloomberg.com/news/videos/2024-04-23/farley-us-global-economy-reasonably-strong-video
Milei Trumpets Quarterly Budget Surplus in Argentina TV Address
==========
President Javier Milei announced Argentina’s first quarterly fiscal surplus since 2008 during a televised speech. The crisis-prone South American nation posted a quarterly fiscal surplus of 0.2% of gross domestic product to start the year, as well as a third consecutive monthly surplus in March. Argentina achieved its rare surplus by slashing three quarters of transfers to provincial governments and halting nearly 90% of public works. Milei has devalued the currency by more than 50%, halved the number of government ministries, removed hundreds of price controls, and started to cut generous energy and transport subsidies.
#Argentina #BudgetSurplus #FiscalPolicy
BOJ to Hold Rates With Focus on Hawkish Signals to Buoy Yen
==========
The Bank of Japan is expected to leave its benchmark interest rate unchanged as the yen trades around a 34-year low. Governor Kazuo Ueda and the board members are set to keep the short-term rate around 0% to 0.1%. The weak yen could spur cost-push inflation, and some executives at businesses that benefited from the depreciation of the currency have started to express concerns about the overall impact. The BOJ may send a clearer signal of policy normalization this time around, with a possible front-loading of a rate hike in June or July. The BOJ's latest quarterly inflation forecasts and its characterization of the risks to its view are among the easiest ways the central bank could flick at the possibility of earlier rate hikes. Governor Ueda hasn't ruled out responding to exchange rates with a policy move if the impact on prices is seen to be 'non-negligible.' The yen fell to 154.85 versus the dollar overnight, the weakest level since June 1990. Bets by leveraged funds and asset managers on yen weakness increased to more than 173,000 contracts through April 16, the most on record in Commodity Futures Trading Commission data going back to 2006. The BOJ is likely to discuss raising its projection for consumer prices excluding fresh food from the current 2.4% in the current fiscal year, and forecast price gains of around 2% in its first projection for fiscal 2026. The recent rise in oil prices in addition to the surprisingly strong results of spring wage talks make it almost certain inflation forecasts will be revised higher. Three quarters of BOJ watchers say the assessment of the risk balance, and whether upward risks are highlighted, will be more important than usual this time. Governor Ueda said that if underlying inflation continues to go up, they would be very likely raising interest rates. A policy reaction function has shifted under Ueda's leadership, with priority placed on returning Japan to a world with positive interest rates. However, the rate gap between BOJ and the Fed is just too wide for Japan to address on its own. Any move by the BOJ aimed at buoying the yen could be overshadowed several hours after the policy announcement, with the US set to release the Federal Reserve's preferred inflation gauge. Bond traders are closely watching to see if the BOJ indicates a shift in its bond buying plans. A reduction could be taken as a signal of an additional normalization step. After its March meeting, the BOJ pledged to keep buying almost the same amount of bonds as previously, or about ¥6 trillion ($38.8 billion) per month. Ueda last week said the bank thought it would be 'dangerous' to completely exit the market in one go.
#BankOfJapan #InterestRates #Yen #Inflation #MonetaryPolicy
nostr:note1mve5q72q29agm4a6uf5lcjgk9r2k7n2lhzw6lwwksxt2zw0qq7es8y6dxt
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
nostr:note1mve5q72q29agm4a6uf5lcjgk9r2k7n2lhzw6lwwksxt2zw0qq7es8y6dxt
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
nostr:note1mve5q72q29agm4a6uf5lcjgk9r2k7n2lhzw6lwwksxt2zw0qq7es8y6dxt
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
nostr:note1mve5q72q29agm4a6uf5lcjgk9r2k7n2lhzw6lwwksxt2zw0qq7es8y6dxt
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions