Even though the Eurozone #debt -to-GDP level is declining (but remains well above the pre-Great Financial Crisis level), it will not change that much for the #ECB . Since the European debt crisis, Eurozone monetary policy has been set to support the weakest link. Recording a 7.1%

The Eurozone recorded a 3.6% budget deficit in 2023. This follows deficits of 3.7% (2022), 5.2% (2021), and 7.0% (2020). Yet, #debt -to-GDP has declined, also with a little help from #inflation , to 88.6%. Compared to the pre-Great Financial Crisis, which triggered the trend of

Monday blues for #gold . Bloomberg and other financial media suggest because of receding geopolitical tensions, but some 'good old profit-taking' may very well be at work here. Look at the magnitude of that rally.

Throwback Monday? Liz Truss, the shortest-serving prime minister, resigning after seven weeks, has caused structural damage to the UK ( #inflation -linked) bond market by coming up with a (mini) budget including an unfunded tax cut for the rich. If you wonder if fiscal policy and

De Nederlandse huizenprijzen zijn in de afgelopen 12 maanden met meer dan 5% gestegen. Sinds juni vorig jaar is de gemiddelde waarde van een koopwoning elke maand gestegen. In tegenstelling tot het verleden hebben hogere rentes weinig effect gehad op de waarde van een woning.

I will be traveling to #Paris by #Eurostar later!
Happy Monday!

#Gold in one picture?

Feyenoord
Real Madrid
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…
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Spice Girls!!!

… #Feyenoord

Yes, public #debt is about supply and demand. More public debt means more demand. But what if supply (investment) does not follow? What if debt rises by 5% of GDP with GDP rising just 1%. Where does the other 4% go?

Economists compete for wealth and prosperity, while states compete for power. And at some point, this may collide. Interesting perspective that is underappreciated by most economists and investors (likely including me)

#China home prices are down 29 out of the last 32 months. The reported declines add up to over 10%. China's currency, the yuan, has declined as well. #Gold is up 46% in yuan since the house price collapse started. In case you were wondering why the Chinese are buying gold.

Tijdens de ‘Corona’ crisis daalde de prijs van een vat olie naar min 37,63 dollar. Dat was één van de bizarste dingen die ik in de financiële markten heb gezien.
Maar een voetbalclub die met nog vier wedstrijden te spelen min één punt heeft, is toch ook best bijzonder.

The last couple of Fridays have brought no joy to stock markets. #NASDAQ down 2%.

The #correlation between long-duration bonds (iShares 20+ Year Treasury Bond ETF, TLT) and equities (S&P 500 Index, SPX, and NASDAQ, CCMP) has been higher than the correlation between Bitcoin and those stock market indices.
Data since the start of 2023, as the narrative of

#China Foreign Direct Investment is falling off a cliff!
(partly because of base effects)

Looking forward to speaking at next Friday's 'Grizzle Hard Money' event! And honored to be a lead partner with the Blokland Smart Multi-Asset Fund, with such a massive lineup. ⬇️
Grizzle