Bottom-line: 아래 삼성의 스마트폰 차트가 성숙해버린 시장의 정의를 보여줌.
Sam’s chart of smartphone growth is the very definition of a plateaued, mature industry.
Sam’s chart of smartphone growth is the very definition of a plateaued, mature industry.
Bottom-line: 전년 대비 반도체 부문 투자를 축소하지 않는다는게 놀랍지만, 반대로 커다란 배가 어찌 한 번에 방향을 틀 수 있는가.
I was initially surprised that Samsung’s still projecting a chip capex increase in 2022, compared with 2021, but then it isn’t easy to turn around such a big ship, with so much critical mass in the industry.
I was initially surprised that Samsung’s still projecting a chip capex increase in 2022, compared with 2021, but then it isn’t easy to turn around such a big ship, with so much critical mass in the industry.
Bottom-line: 제이피모건자산운용과 오성자산운용의 매니저는 여전히 달러 강세에 확신을 가지고 있다고 함. 캐나다 중앙은행이 예상보다 낮은 금리인상을 함에 따라 여타 중앙은행 또한 강한 긴축적 태도를 선회할 것으로 기대가 형성되며 달러지수가 1개월 최저치를 기록 한 뒤에도 그렇게 생각함. 이들은 중앙은행의 최종금리에 아직 도달하지 않았고, 전세계 경기가 침체 위험에 직면한 상황에서 미국이 다른 국가 대비 나은 거시경제 환경에 놓일 것이므로 달러에 대한 수요는 여전할 것으로 봄. 최근까지 달러지수는 4개월 가까이 랠리를 하며 다른 국가의 통화를 다년 간 최저치로 끌어내렸음.
It’s too soon to write off the dollar’s dominance as the US rate-hike cycle may not be near its peak. That’s the firm conviction of money managers at JPMorgan Asset Management and Fivestar Asset Management even after a gauge of the greenback touched a one-month low on Thursday. Signs that aggressive Federal Reserve tightening is starting to take a toll are fueling bets for a slower pace of rate increases. But dollar bulls remain undaunted: a hawkish Fed, fears of a global recession and heightened geopolitical tensions in Europe should only bolster demand for the US currency, investors say. “At the moment it is difficult to see kind of what causes the dollar to weaken from here,” said Iain Stealey, international chief investment officer for fixed income at JPMorgan. “The Fed hasn’t hit the terminal rate yet, the US economy looks like it’s probably a bit more resilient than some other economies out there.”. Investors are pondering the dollar’s direction after a smaller-than-expected rate increase by the Bank of Canada spurred speculation of a dovish pivot by other central banks. A four-month rally in the greenback has rippled across the globe as a host of currencies tumbled to multi-year lows while import costs in developing nations soared.
It’s too soon to write off the dollar’s dominance as the US rate-hike cycle may not be near its peak. That’s the firm conviction of money managers at JPMorgan Asset Management and Fivestar Asset Management even after a gauge of the greenback touched a one-month low on Thursday. Signs that aggressive Federal Reserve tightening is starting to take a toll are fueling bets for a slower pace of rate increases. But dollar bulls remain undaunted: a hawkish Fed, fears of a global recession and heightened geopolitical tensions in Europe should only bolster demand for the US currency, investors say. “At the moment it is difficult to see kind of what causes the dollar to weaken from here,” said Iain Stealey, international chief investment officer for fixed income at JPMorgan. “The Fed hasn’t hit the terminal rate yet, the US economy looks like it’s probably a bit more resilient than some other economies out there.”. Investors are pondering the dollar’s direction after a smaller-than-expected rate increase by the Bank of Canada spurred speculation of a dovish pivot by other central banks. A four-month rally in the greenback has rippled across the globe as a host of currencies tumbled to multi-year lows while import costs in developing nations soared.
Bottom-line: 중국공산당 전국대표대회에서 후진타오가 중간에 퇴장하는 모습은 무언가 석연치 않았고, 건강상태 때문이라는 해명에도 불구 추측이 난무하고 있음. 10년에 한 번 열리는 이 정치적 행사에서는 일반적으로 원로를 대우하기 때문에 그가 혼란을 느끼며 퇴장하는 모습은 이례적임. 시진핑이 그동안 권력의 집권에 힘을 썼다는 것을 감안할 때, 그의 건강 상 문제든 혹은 권력에 반대했든 계획에 없던 제거였을 것임.
The finale of the Communist Party’s most important political event is normally carefully noscripted to extol China’s top leaders. But at President Xi Jinping’s coronation last weekend, former leader Hu Jintao’s mysterious exit stole the headlines. The 79-year-old appeared confused as he was led off stage halfway through the closing session of the twice-a-decade leadership reshuffle, sparking intense speculation over what exactly happened to him. Several hours later, the official Xinhua News Agency tweeted Hu felt unwell and needed to rest. “Now, he is much better,” the outlet added. “Xi’s longstanding obsessions with political process and party unity suggest Hu’s removal was unlikely to have been planned, whether Hu experienced a health issue or started protesting against Xi’s dominance of the leadership reshuffle,” said Neil Thomas, a China analyst at Eurasia Group, a political risk advisory and consulting firm.
The finale of the Communist Party’s most important political event is normally carefully noscripted to extol China’s top leaders. But at President Xi Jinping’s coronation last weekend, former leader Hu Jintao’s mysterious exit stole the headlines. The 79-year-old appeared confused as he was led off stage halfway through the closing session of the twice-a-decade leadership reshuffle, sparking intense speculation over what exactly happened to him. Several hours later, the official Xinhua News Agency tweeted Hu felt unwell and needed to rest. “Now, he is much better,” the outlet added. “Xi’s longstanding obsessions with political process and party unity suggest Hu’s removal was unlikely to have been planned, whether Hu experienced a health issue or started protesting against Xi’s dominance of the leadership reshuffle,” said Neil Thomas, a China analyst at Eurasia Group, a political risk advisory and consulting firm.
Bottom-line: 유럽 중앙은행은 예상 된 바와 같이 75bp의 금리인상을 했으며, 추가적인 인상 여지를 둠. 장기대출프로그램의 경우 이자율을 11월 23일부터 조정하고, 조기상환 날짜를 줄 것이라 함.
The ECB lifted interest rates by 75 basis points, as anticipated, and “expects to raise interest rates further.” The policy statement also says that officials will adjust the interest rates applicable to TLTROs from November 23, and will offer banks additional voluntary early repayment dates.
The ECB lifted interest rates by 75 basis points, as anticipated, and “expects to raise interest rates further.” The policy statement also says that officials will adjust the interest rates applicable to TLTROs from November 23, and will offer banks additional voluntary early repayment dates.
Bottom-line: 인플레이션 목표치를 5배 초과하는 현재 상황에서 중앙은행은 경제보다 물가를 낮추는데 계속 집중할 것이라 함.
With inflation almost five times the ECB’s medium-term target, the central bank has given precedence to lowering prices over shielding the economy. A lot of the impulse is coming from hawkish members of the ECB’s governing council like Germany’s Joachim Nagel who has been pushing for more hikes arguing that inflation currently poses the greatest risk to the euro zone economy.
With inflation almost five times the ECB’s medium-term target, the central bank has given precedence to lowering prices over shielding the economy. A lot of the impulse is coming from hawkish members of the ECB’s governing council like Germany’s Joachim Nagel who has been pushing for more hikes arguing that inflation currently poses the greatest risk to the euro zone economy.
Bottom-line: 두 정책 모두 은행이 유동성을 확보하고 있음에 따른 이득을 줄이는 방향임.
Another technical detail in the ECB’s statement: minimum reserves held by credit institutions with the Eurosystem will now be remunerated in line with the deposit rate, rather than the higher main refinancing operations rate. Both this decision and the one on TLTROs will lower the profits banks make on liquidity they hold.
Another technical detail in the ECB’s statement: minimum reserves held by credit institutions with the Eurosystem will now be remunerated in line with the deposit rate, rather than the higher main refinancing operations rate. Both this decision and the one on TLTROs will lower the profits banks make on liquidity they hold.
Bottom-line: 페이스북에 투자하는 주주들은 메타버스에 비싼 값을 지불하고 있음. 올해 주가 하락으로 6,770억 달러의 시가총액이 사라졌으며, 동시에 세계 20위 기업에서 밀려났음. 그럼에도 불구 이 부진의 늪이 끝날 기미는 보이지 않음.
Meta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent’s market value has collapsed by a whopping $677 billion this year, forcing it out from the ranks of the world’s 20 largest companies. The punishment shows no signs of easing anytime soon. Meta’s stock is down as much as 25% after it spooked investors with ballooning costs to fund its version of virtual reality and a decline in revenue.
Meta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent’s market value has collapsed by a whopping $677 billion this year, forcing it out from the ranks of the world’s 20 largest companies. The punishment shows no signs of easing anytime soon. Meta’s stock is down as much as 25% after it spooked investors with ballooning costs to fund its version of virtual reality and a decline in revenue.