It seems China is having a tough time getting away from its Covid Zero policy. Last week it felt like the country was starting to ease restrictions; this week some cities are facing tougher measures again after case numbers had increased. China stocks and oil lower on that news. Bitcoin and other cryptos again approaching their lows from around 2 weeks ago, as the extent of FTX becomes obvious and other firms are struggling with the fallout. A couple of economic data points this week will give more insight into the state of the German economy, arguably important for Europe going into this winter: Producer price index today, business and consumer confidence later this week. Have a good start to the week
𝘿𝙚𝙖𝙧 𝙘𝙤𝙢𝙢𝙪𝙣𝙞𝙩𝙮 The Yield Curve Inversion Is The Deepest Since 1980s - This Is A Big Deal🚨 𝗪𝗵𝘆 𝗮𝗿𝗲 𝘁𝗵𝗲𝘆 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁? Yield curve inversions have, historically, been one of the best recession forecasting tools we have. It has correctly predicted recessions for the last 50 years, the timing of that recession, however, can range anywhere from 5-24 months. 𝗧𝗵𝗶𝘀 𝗽𝗮𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝗿 𝘆𝗶𝗲𝗹𝗱 𝗰𝘂𝗿𝘃𝗲, 𝗵𝗼𝘄𝗲𝘃𝗲𝗿, 𝗵𝗮𝘀 𝗻𝗼𝘄 𝗯𝗲𝗲𝗻 𝗶𝗻𝘃𝗲𝗿𝘁𝗲𝗱 𝗳𝗼𝗿 𝗺𝗮𝗻𝘆 𝗺𝗼𝗻𝘁𝗵𝘀 𝗮𝗹𝗿𝗲𝗮𝗱𝘆.🔥🔥🔥 What’s striking is that the current spread between the 10-year yield and 2-year yield (-70bps) is now greater than what we experienced before the dot com bubble and the global financial crisis. This indicator is important because the Fed monitors it, this consequently shapes their outlook on monetary policy. 𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗮 𝗻𝗼𝗿𝗺𝗮𝗹 𝘆𝗶𝗲𝗹𝗱 𝗰𝘂𝗿𝘃𝗲 𝗹𝗼𝗼𝗸 𝗹𝗶𝗸𝗲 𝗮𝗻𝗱 𝘄𝗵𝘆?
$NTES Q3 results mentioned that the contract with Blizzard will be ending January 2023, which might have scared some investor, even though it was stated that this license only represented low single digits percent of total revenue and does not include the agreement from Diablo Immortal. Nonetheless, we see a 10.1% increase in net revenue YoY which includes an increase in Games and related of 9.1% and an increase of 22.5% of Cloud Music. Really glad to see Cloud Music doing well. While, Games increase is decent thanks to games like Identity V, Naraka: Bladepoint, Knives Out and Diablo Immortal, I have even higher hopes for the future as the company has a lot of content ready to be delivered during the end of 2022 and early 2023, including titles like Harry Potter: Magic Awakened (inter