19 maj. Correction. Quality of life, Sell-off in government bonds. Fransk fregatt.




Luftförsvarsfregatt
En försvarsaffär värd över 40 miljarder kronor.

https://englundmacro.blogspot.com/2026/05/sverige-koper-fyra-luftforsvarsfregatte.html


Stockholmsbörsen inleder tisdagen uppåt. 

FOMO fred och öppning i Hormuz

President Trump said he had called off military strikes planned for Tuesday in light of what he called positive developments at the negotiating table.
But mediators said Iran continues to insist on an end to hostilities, financial relief, reparations for war damage and a role overseeing the strategic Strait of Hormuz waterway while remaining at odds with U.S. demands regarding the closing or long-term suspension of its nuclear program.
The U.S. and Israel had been preparing to carry out new attacks on Iran within days, people in the region familiar with the matter said. 
Some said strikes could still happen as early as next week.
Wall Street Journal 19 May 2026

Strax innan klockan 17 handlades OMXSPI strax ovan nollan och OMXS30 strax under nollan, men fick sedan ny fart uppåt igen.


Stockholmsbörsen tappade fart den sista handelstimmen och stängde svagt upp.
Bidragande till den småsura avslutningen var stigande marknadsräntor, i framför allt USA, som spär på oron för kommande räntehöjningar från centralbanken Federal Reserve.




New York-börserna stänger på rött – tungt för molnbolag
Stigande marknadsräntor, oro för kriget i Mellanöstern och vinsthemtagningar bland AI-relaterade bolag bidrog till den smådeppiga stämningen.
https://www.di.se/live/new-york-borserna-stanger-pa-rott-tungt-for-molnbolag/



‘correction’ risk as high-flying stocks defy bond gloom

Wall Street indices have surged to a string of record highs despite anxiety over economic fallout from Iran war.


A sell-off in government bonds has pushed US bond yields to their highest level in more than a year as investors bet that oil prices stuck above $100 a barrel will fan inflation and spur central banks — including the Federal Reserve — to lift interest rates.

Financial Times 19 May 2026

https://www.ft.com/content/ce55bdaa-2c80-410b-91b9-4bec5459e570?syn-25a6b1a6=1


Bond yields are bursting through long-held landmarks, and the S&P fell 0.07%.

Across the developed markets, bond markets are staging a slow-motion car wreck. Even Japan is joining in now, and the phenomenon is truly global.

Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”

The ongoing failure to come up with a political or military resolution to the blockades of the Strait of Hormuz has steadily raised inflationary pressure. 

John Authers Bloomberg 19 May 2026

https://www.bloomberg.com/opinion/newsletters/2026-05-19/the-great-bond-car-wreck-in-slow-motion


Jobba i Milano, bo i Turin.

Giorgio Ferrero cycles through Turin’s quiet, arcaded streets to the city’s main train station. Within the hour he’s in Milan, zipping through traffic on a scooter to his job as a lawyer at Prada Group.

The roughly 140-kilometer (87-mile) commute from Italy’s former industrial capital to the country’s booming financial hub is a daily routine for a growing cohort of young executives who, like Ferrero, live in Turin while holding down jobs in Milan.

Asking prices for homes in Milan were more than 2.5 times higher than in Turin last year, while rentals cost 82% more, according to Immobiliare.it Insights.

“It’s a different life,” said Ferrero, 41, whose wife also commutes to Milan. 

“You gain quality of life, more space, calmer surroundings, being close to the mountains. Even the sea is within reach.”

Bloomberg 19 May 2026

https://www.bloomberg.com/news/features/2026-05-19/milan-s-wealth-boom-sends-rents-and-living-costs-soaring



Dagen innan

https://englundmacro.blogspot.com/2026/05/18-maj.html





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