Good Morning from #Germany, where FinMin is calling for calm in the growing US tariff dispute. “We don’t need more provocations right now — we need serious negotiations,” Lars Klingbeil said acc to BILD. He said he had discussed the issue directly w/US Treasury Secretary Bessent.

Iceberg ahead? Yields on 30y Japanese govt bonds have jumped 15-fold since 2020 — a dramatic shift for one of the most heavily indebted countries in the world.

TACO Trade (Trump Always Chickens Out) in action: US Stock Futures rise as Trump extends EU tariff deadline. Trump agreed to delay the date for a 50% tariff on goods from the EU to July 9 from June 1.

Good Morning from #Germany, where long-term interest rates have also shot up recently, steepening yield curve. 30y Bund yield has climbed 0.5ppts ytd.. The 2s/30s yield gap has widened to 1.31ppts, highest since 2019, making it less appealing for govt to issue ultra-long-term

Good morning from #Germany, which has just ended Japan’s 34y streak as the world’s top creditor nation. Germany’s rise is driven by its large current account surplus, which hit €248.7bn in 2024, thanks to strong exports. Japan’s surplus, by comparison, totaled €180bn acc to its

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Good Morning from #Germany, where seasonally adjusted unemployment rose by 34,000 in May — the biggest increase since mid-2022. The data adds to growing concerns that 2025 could be another year of economic stagnation, as ongoing tariff uncertainty weighs on both businesses and

US stock futures jumped and the Dollar strengthened after President Donald Trump's global tariffs were deemed illegal and blocked by the US trade court. Contracts for the S&P 500 and Nasdaq 100 gained 1.5% and 1.7% respectively, while shares in Nvidia rose over 5% in post-market

Good Morning from Germany, where term premiums on the bond market have also risen sharply. 30y German bonds are yielding well over 3%, 20y bonds are almost at 3%, while 10y bonds are at 2.75%.

#Nvidia is now back in the number two spot by market value, just behind Microsoft. These days, a company needs to be worth over a trillion Dollars to even make it into the top 10.

Late good morning from Germany, where inflation remains stubbornly above 2%, partly because food prices are rising by 2.8% and services are still 3.4% more expensive.

The S&P 500 rose 6.2% in May — its best May performance since 1990.

Debt has become dramatically more expensive for Japan in the past year. The highly indebted nation has to pay 100 basis points more for long maturities.

Good Morning from Germany where the Dax rose 6.67% in May — its strongest May performance since 2020, when it gained 6.68%.

For perspective: w/Nvidia’s results included, the Magnificent 7 saw their earnings grow 32% YoY in Q1 — far outpacing the S&P 493, which grew just 8%. Still, the Mag7 stocks are down for the year, while both the S&P 500 and the other 493 compss are slightly up.

Good Morning from Germany, where anticipation is building for the upcoming meeting between Chancellor Friedrich Merz and US President Donald Trump. The two leaders will meet at the White House on June 5 to discuss key issues incl the war in Ukraine, the Middle East, and trade

Europe stocks stage world-beating rally as trade war backfires. 8 of the world's 10 best-performing stock markets are in Europe this year, w/Germany's Dax rallying >30% in Dollar terms: Peripheral markets such as Slovenia, Poland, Greece, and Hungary also performing well.

OOPS! Morgan Stanley sees the Dollar falling ~10% on slowing US growth and amid continued uncertainty over Dollar's safe-haven status.

Good Morning from #Germany, where food prices have increased more sharply on avg than in any other European country since the COVID crisis. Despite its strong discount retail culture, Germany is no longer Europe's cheapest place for groceries—except when it comes to Nutella or

Elon Musk’s xAI seeks $113bn valuation in $300mn share sale ft.com/content/703e93…