TOP MARKETS NEWS: Week 06/27 – 07/03

Friday 07/01

Business Live – guardian

Powell Is The New Arthur Burns, Not The New Paul Volcker – Zerohedge
Car Sales in the US Slow on Rising Sticker Prices and Scant Supplies – bbg
El-Erian Says Receding Liquidity Is Biggest Risk to Markets – bbg
Larry Summers Says Risk of 2022 Recession Climbing, May Damp Inflation – bbg
US Manufacturing Growth Weakens to Two-Year Low as Orders Slump – bbg
Recession Fears Bolster Treasuries, Short-End Yields Plunge – bbg
Richest Billionaires Lose $1.4 Trillion in Worst Half-Year Ever – bbg
Nomura Now Forecasts Global Recession As Its Base Case – Zerohedge
World’s Top Pension Fund Writes Off Russia Stocks, Sells Bonds – bbg
JPMorgan Cuts US Economic Growth Forecasts ‘Perilously Close’ to Recession – bbg
Goldman Strategists Warn Risk of Stock Selloff Is Still High – bbg
Food Inflation Gets a Break as Wheat, Corn and Soy Oil Tumble – bbg
“One Of The Worst Downturns In Recent History”: Zuck Warns Facebook Employees To Brace For Layoffs – Zerohedge
Meta Slashes Plans to Hire Engineers by at Least 30% Amid Downturn, Reuters Says – bbg
Euro zone factory production falls in June for first time in two years -PMI – Reuters
Euro-Zone Inflation Hits Record, Boosting Calls for Big Hikes – bbg
European markets fall as caution persists after worst quarter since 2020 – cnbc
China Adds $45 Billion to Stimulus to Pay for Infrastructure – bbg
Here’s what China’s real estate debt crisis could mean for Asia junk bond investors – cnbc
Chinese Stocks in US Top S&P With Best Month in Three Years – bbg


Thursday 06/30

Business Live – guardian
US 10-Year Yield Slips Back Below 3% as Recession Fears Grow – bbg
Welcome To The Recession: Atlanta Fed Slashes Q2 GDP To -1%, Pushing First Half Into Contraction – Zerohedge

Micron warns weakening consumer demand will hurt smartphone sales – cnbc
Micron Plunges After Catastrophic Guidance Confirms Worst Fears – Zerohedge
First-Half FUBAR: Stocks Worst In 60 Years, Bonds & Bitcoin Worst Ever – Zerohedge

S&P 500 posts worst first half since 1970, Nasdaq falls more than 1% to end the quarter – cnbc
JPMorgan’s Michele Warns on Recession as Brutal First Half Draws to End – bbg
The market’s worst first half in 50 years has all come down to one thing – cnbc
Bank of America’s Crypto Users Shrunk by 50% in Bear Market – bbg
ECB Will Buy Italian, Greek Bonds Using Proceeds From German, French Bonds To Avoid Crash – Zerohedge
Italy Approves Energy Relief as Draghi Battles Spike in Prices – bbg
Stocks making the biggest moves midday: RH, Carnival, Universal Health Services and more – cnbc
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale – cnbc
S&P 500’s Worst First-Half Since 1962 Won’t Tell You Much About the Second Half – bbg
SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public – bbg
Technology Stocks Head for Historic Wipeout as US Economy Cools – bbg
Global Sovereign Sector Outlook Revised Downwards to Neutral – fitch
Barclays Gives £1,200 Raise to 35,000 UK Staff as Inflation Hits – bbg
Economists Sour on US Outlook After Consumer Spending Stumbles – bbg
US Consumer Spending Softens; Prices Rise Less Than Forecast – bbg
Initial Jobless Claims At 5-Month Highs As Layoffs Accelerate – Zerohedge
Fed’s Favorite Inflation Indicator Dips, US Spending Slows In May – Zerohedge
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs – cnbc
Stocks making the biggest moves premarket: Walgreens, Constellation Brands, RH and others – cnbc
Stocks, Cryptos Tumble To Close Out Catastrophic First-Half – Zerohedge
OPEC+ Ratifies August Supply Hike, Next Move Left Unresolved – bbg
IEA: Europe Will Have To Cut Gas Usage By Nearly One-Third – Zerohedge
German Energy Giant Crashes On Russian NatGas Supply Crunch, Triggering Bailout Talks – Zerohedge
European Power Prices Hit Fresh Highs as Winter Concerns Mount – bbg
Europe Junk Credit Gauge Above 600 for First Time Since 2020 – bbg
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs – cnbc
European markets see declines as recession concerns persist; Germany’s Uniper down 16% on gas supply fears – cnbc
China’s Tech Stocks Are Most Attractive in World, Invesco Says – bbg
China’s Shenzhen stocks rise as data shows factory activity grew in June; Asia stocks slip – cnbc



Wednesday 06/29

Recession worries weigh on markets; food prices drive up shop inflation – business live – guardian

Bonds & The Dollar Bid As Recession Risks Rise, Black Gold & Breakevens Battered – Zerohedge
Dow rises modestly in volatile trading as Wall Street struggles to recover – cnbc
Analyst Earnings Estimates Are Most Wrong During Recessions – Zerohedge
David Rosenberg: The stock market is signalling that a recession is coming – fp
The Best Early Recession Indicator – Zerohedge
Recession-Doubter Neil Dutta Turns Cautious on US Economy After Fed Signals – bbg
Why Is The VIX So Low? A Surprising Answer Emerges In The Market’s Microstructure – Zerohedge
Citigroup’s Family Office Clients Are Seizing on the Market’s Wild Swings – bbg
83% Of Americans Cut Back On Spending As Economy Careens Towards Crisis , Poll Finds – Zerohedge
SNB Likely to Halt Foreign Currency Purchases, Credit Suisse Says – bbg
Stocks making the biggest moves midday: Bed Bath & Beyond, Carnival, Upstart and more – cnbc
Central bank heads warn world economy faces new inflationary era – guardian
A New Inflation Era Leaves Powell and Lagarde Seeking Answers – bbg
We Believe NIO Plays Valeant-esque Accounting Games to Inflate Revenue and Boost Net Income Margins to Meet Targets – grizzlyreports
SPACs Send Warning Before Hitting $183 Billion Wall of Deadlines – bbg
Stellantis Warns of Car Market Collapse If EVs Don’t Get Cheaper – bbg
Bailey Says BOE Will Set Policy to Offset Inflationary Pay Rises – bbg
Bailey Says BOE Has Option to Act More Forcefully on Inflation – bbg
Stocks making the biggest moves premarket: General Mills, Carnival, Bed Bath & Beyond and more – cnbc
Bond market rebound is bad news for the economy: Gary Shilling – bbg
Futures Slide Amid Renewed Recession Fears After China Doubles Down On “Covid Zero” – Zerohedge
US Q1 GDP Revisions Scream Stagflation – Zerohedge
NFTs Have ‘Fallen Off the Cliff’ as Sales Sink to Lowest in Year – bbg
Credit Suisse to End Negative Rates for Swiss Franc Balances – bbg
JPMorgan Piles On With Estimate Cuts Before Earnings – bbg
US Personal Spending Is Revised Sharply Lower in First-Quarter Data – bbg
Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll – cnbc
Sell Tesla Stock, Analyst Says. His Earnings Forecast Is Higher Than His Peers’ – forbes
Swiss Franc Rises to Parity With Euro for First Time Since March – bbg
Germany Doubles Next Year’s Borrowing Target as Pressures Mount – bbg
German Inflation Eases on Temporary Government Relief Measures – bbg
Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy – cnbc
JPMorgan Sees China as Equity ‘Safe Haven’ Due to Policy Easing – bbg
Hong Kong’s Hang Seng index leads losses; consumer confidence in Japan, South Korea falls – cnbc
Biggest Currency Rout Since 1997 Puts Asia Central Banks in Bind – bbg


Tuesday 06/28

Business Live – guardian

‘Bad News’ Is Bad News Again: Stocks Slammed On Macro Meltdown, Bonds Shrug – Zerohedge
Dow Plunges Nearly 500 Points, Recession Fears Resume As Consumer Confidence Hits New Low – forbes
Dow falls nearly 500 points as bear market bounce loses steam – cnbc
Goldman Finally Admits “Large Cuts To Earnings” Are Imminent – Zerohedge
Stocks making the biggest moves midday: Nike, Las Vegas Sands, Boston Beer and more – cnbc
Goldman Sachs Sees Losses From Consumer Push Exceeding $1.2 Billion This Year – BBG
Consumer Confidence Crashes In June, Richmond Fed Survey Plunges To COVID Lockdown Lows – Zerohedge
Stocks making the biggest moves in the premarket: Nike, Spirit Airlines, Occidental Petroleum and more – cnbc
Futures, Commodities Jump After China Cuts Quarantine – Zerohedge
ECB To Launch “First Line” Of Bond Crash Defense On Friday, Same Day QE Ends – Zerohedge
“More Money In Your Pocket” – Newsom To Helicopter Drop $17 Billion In “Inflation Relief” Stimmy Checks – Zerohedge
ECB to Activate First Line of Defense in Bond Market on Friday – bbg
US Profit Margin Estimates Are Too Optimistic, Goldman Strategists Say – bbg
Earnings Recession Coming As Fed Hikes Rates – Zerohedge
The First Cut Might Not Be The Deepest – Zerohedge
European markets head for negative open as global investor confidence dips – cnbc
China Stocks Outperform On Unexpected COVID Shift – Zerohedge
China Cuts Quarantine in Half for Travelers and Close Contacts – BBG
Asia-Pacific stocks mixed as investors weigh economic concerns – cnbc
“The Rubicon Has Been Crossed”: The BOJ Now Owns More Than 50% Of All Japanese Bonds – Zerohedge


Monday 06/27

Business Live – guardian

Banks Unveil Post-Stress-Test Dividend/Buyback Plans, Morgan Stanley Jumps On Boost To Both – Zerohedge
JPMorgan keeps dividend unchanged as rivals including Morgan Stanley boost payouts after Fed test – cnbc
Nike earnings top Wall Street’s expectations, despite inflation in the U.S. and Covid lockdowns in China – cnbc
‘Good News’ Sends Stocks & Bonds Lower; Oil & Gas Prices Soar – Zerohedge
Stocks fall and begin week with losses as rebound attempt stalls – cnbc
SPACs wipe out half of their value as investors lose appetite for risky growth stocks – cnbc
Biden Drains US Strategic Oil Reserve To Lowest Since 1986; UAE Warns Not To Expect Any Help From OPEC – Zerohedge
Stocks making the biggest moves midday: Coinbase, Spirit Airlines, Robinhood and more – cnbc
Welcome To QT: Terrible 5Y Auction Prices With Huge Tail As Foreign Demand Tumbles – Zerohedge
Don’t get ‘sucked back in’: Fund manager says investors should learn from past bear markets – cnbc
G7 Set To Impose “Price Caps” On Russian Oil; Unclear What This Actually Does – Zerohedge
Citigroup cuts S&P 500 target to reflect blend of recession, soft landing scenarios – iqstocks
Dallas Fed Plunges As Respondents Unleash Unprecedented Slamdown Of “Disastrous” Biden Administration – Zerohedge
US Durable Goods Orders Unexpectedly Jumped In May – Zerohedge
Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies – cnbc
Economic Outlook U.S. Q3 2022: The Summer Of Our Discontent – spglobal
Stocks making the biggest moves premarket: Spirit Airlines, BioNTech, Robinhood and more – cnbc
Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears – cnbc
Key Events This Week: Central Bankers In Sintra, European CPI, US PCE And ISM – Zerohedge
European markets head for higher open as positive global momentum continues – cnbc
Russia slides into historic debt default as payment period expires – cnbc
Bank of Japan’s government bond holdings exceed 50% of total – eunews
Russia Defaults on Foreign Debt for First Time Since 1918 – BBG
Hong Kong’s Hang Seng rises 2% led by Chinese tech stocks – cnbc
High inflation calls for timely and decisive central bank action: BIS – bis