Watch China’s Chip Sector

🇨🇳 🇨🇳 China: The top 10 domestic equipment manufacturers logged revenue of around 16.2 billion Chinese yuan ($2.2 billion) in the first half of the year, up 39% year-on-year, according to Shanghai-based CINNO Research

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GLP-1: Peaple Are Eating Less

🚨 🚨 Walmart says it is already seeing a drop-off in food consumption among customers who are using GLP-1 medicines. It’s also seeing a pick-up in sales in health and fitness items like yoga mats and athletic apparel

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Germany Is Getting Worse

🇩🇪 🇩🇪 Germany: The growth outlook is being cut further and further. Top economic research institutes now expect Germany’s GDP to contract by 0.6% in 2023, compared w/earlier projection of a 0.3% growth in April

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GBPUSD: Sell On Rallies

🇬🇧 🇬🇧 GBP Eases Towards 26-Week Low; Sell On Rallies

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Watch TotalEnergies

🇫🇷 🇫🇷 BREAKING: France’s TotalEnergies Trades At Record High

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Intervention? Get Ready For ¥152

🇯🇵 🇯🇵 Even If intervention takes place at ¥150, USD/JPY is headed to ¥152

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US 5-Year Yields Surge

🚨 🚨 5-Year Treasury Yield moved up to 4.67% today, highest since Aug 2007. Real 5-Year Yield (adjusted for expected inflation) of 2.44% is the highest since Nov 2008

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US Debt Servicing Costs Double

🇺🇸 🇺🇸 For nearly 20 years, it was effectively free for the US to issue debt as debt service costs were ~1.5%. Now, debt service costs have doubled to 3% and will rise toward 5% as rates skyrocket

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EUR/GBP Will Climb To 0.90

🚨 🚨 EURGBP Will Climb To 0.90. Poll suggests BOE may remain on hold at 5.25% until at least July 2024

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HSBC Buying Citi’s China Wealth Unit

🇨🇳 🇨🇳 HSBC is poised to buy Citi’s China consumer wealth unit, which manages more than $3 billion in assets

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