The GRYNING | Portfolio is designed for decision makers - those who need leading research on where the market is going. I integrate long-term market insights with tactical trading strategies, technical and uniquely agnostic views for investors.
"hired for a different economic reality than the one we face today". - Sundar Pichai, CEO of Google and Alphabet as he announces (here) 12000 job cuts.
Crypto lender Genesis files for bankruptcy (here).
Tancent reveals it fired 100 people for corruption.
SBF continues to insist FTX US was solvent - please see his substack on how not to format a spreadsheet. This was followed by FTX head John Ray deciding he was open to restarting the exchanges solvent operations (here).
Coinbase has no more interest in operating in Japan.
The CEO of proudly "carbon neutral" pub chain Brewdog, claims pints should now cost £27.50 and many businesses won't survive 2023.
Zoltan Pozsar of Credit Suisse pens an oped in the FT arguing that the monetary order is being challenged by de-dollarisation efforts and central bank digital currencies.
A compelling argument against Zoltan’s thesis is presented by Michael Pettis (here).
Iran and Russia announce they want to issue a new stablecoin backed by gold.
JP Morgan's Jamie Dimon says he still hates bitcoin but loves blockchain.
The BoJ leaves its policy of Yield Curve Control unchanged (my thoughts here & here), and governor Kuroda tells WEF that he believes Japan still needs accommodative policy.
AllianceBernstein warns if the BoJ sticks with its yield-curve control policy and liquidity continues to worsen "it may be time to consider stopping investing in the country’s government bonds altogether" (here).
California's high gas prices could be down to nobody wanting to open a new gas station in the state.
Goldman Sachs has a bad week after facing news the Fed is investigating its consumer retailing unit Marcus.
Trafigura takes a large amount of copper out of the LME.
Locally for Gryning - there's a big rare earth discovery in Sweden.
ECB staff are losing faith in Christine Lagarde and her board as inflation bites. At Davos, she appeared very pleased at not giving CNBC's Geoff Cutmore any insight into her thoughts about the eurodollar exchange rate.
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