Shorts – Summaries

The Day Today 16th January 2023

BOJ offers to buy 1.3 trillion Yen of bonds to defend the 0.50% yield cap, following almost 5 trn on Friday. Mayor of New York travels to Mexican border to say “there is no room” in his city for busloads of migrants. Foreign investors bought net 64bn yuan of Chinese stocks in first nine trading days of the year, compared to…

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The Day Today 13th January 2023

China plans to take “golden shares” in Alibaba and Tencent. Japan 10 year yield breached the the wider band ceiling of 0.50% forcing emergency intervention from the BOJ. China exports and imports fall slightly less than expected. Apple CEO Tim Cook requests and receives total compensation pay cut of 40%. S Korea raises rates 25bp as expected and statement removes reference to the need for…

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The Day Today 12th January 2023

China CPI matches expectations at 1.8% y/y vs 1.6% prior while PPI comes in higher than expected at 0.7% from 1.3% prior. China outbound flight bookings at 15% of pre-pandemic levels. Starbucks requires its corporate workers to return to the office three days per week. BlackRock to cut 500 jobs, around 3% of its workforce, according to a source. TSMC, the world’s biggest…

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The Day Today 11th January 2023

Germany’s Foreign Minister makes unexpected visit to Ukraine, promises more weapons and “concrete offers” to help them join the EU. US House creates new committee for “the Strategic Competition Between the U.S. and the Chinese Communist Party”. UK and Japan to sign defence agreement today allowing forces to be deployed in each other’s countries. Wells Fargo to step back from mortgage market, concentrating on…

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The Day Today 10th January 2023

Fed Bostic says rates should go to 5% by early in the second quarter and then remain there for “a long time”. Fed Daly says the “case can be made for either” a 25bp or 50bp hike next time, rates need to go above 5% but how far is “not completely clear”. China suggests its Covid wave has peaked in many…

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