Röd öppning Red Opening 3 November 2023

Not Even Thinking About Thinking About Rate Cuts

Jerome Powell “We’re not even thinking about thinking about raising rates,” he protested in June 2020. 

He kept to that line firmly for another a year, and didn’t hike rates until March 2022.

Now more or less everyone, including Powell himself, accepts that the Fed should have done that earlier

The receding belief in “higher for longer” has spurred the startling rallies for both stocks and bonds of the last few days. But how well based is it? 

It would take real trouble, combined with reasonably calm inflation expectations, for a central bank to cut. 

Inflation is receding but remains elevated. Worry about a recession is declining fast
 and is minimal.

That combination might be consistent with a strong stock market. It’s not consistent with rate cuts or falling bond yields:

John Authers Bloomberg 3 november 2023  

Nu gäller bara att investerarna inte blir fartblinda och 
tvingar Federal Reserve att ta i med hårdhandskarna igen.

U.S. Secretary of State Antony Blinken is expected to ask for a break in the fighting in the Gaza Strip and measures to protect the civilian population in the enclosure.

Government debt in the rich world is now higher, as a share of gdp,
than at any time since after the Napoleonic wars.


Apple överträffade analytikernas förväntningar  
Omsättningen landade på 89,5 miljarder dollar, 
vilket kan jämföras med analytikernas prognoser som låg på 89,4 miljarder dollar.

The US Housing Market Has Become an Impossible Mess

Americans with cheap loans don’t want to sell. 

Those without homes can’t afford to buy.

Housing Crisis Gets Worse for Americans on Mortgage Lock-In Effect - Bloomberg


Ray Dalio likens U.S. restrictions on China tech exports to embargo before Pearl Harbor

Hedge fund billionaire Ray Dalio says the West’s push to block China from accessing microchips is “very, very similar” to the policy the U.S. took towards Japan in the 1940s that is widely credited with escalating the Second World War. 

MarketWatch 2 November 2023

Prelude to the attack on Pearl Harbor

Jeff Bezos, the world’s third-richest man is returning to Miami where he  to high school and where his parents live — it’s as simple as that.

Bezos’s stepfather, Miguel, is a first-generation immigrant who arrived in Miami from Cuba in the 1960s at the age of 16

The uber-rich have far more money than they could ever spend, so they can afford to simply live in the places that make them happiest.

Bezos and partner Lauren Sánchez 

Bloomberg 3 november 2023 

Jeff Bezos, ursprungligen Jorgensen, grundare av  Amazon.com föddes 1964 i Albuquerque som son till Theodore (Ted) Jorgensen och Jacklyn Gise. 

Han har anor från Älmhult i Småland via sin farfars mormor Ida Christine "Minnie" Birn (född Andersdotter), som utvandrade till USA i slutet av 1800-talet.

2013 köpte Jeff Bezos The Washington Post för 250 miljoner dollar




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