Biden is trying to punish some Chinese steel and aluminum products with 3x tariffs at 25% during his visit to Pittsburgh. The US is also reviewing China’s shipbuilding industry.
Canada is hiking capital gains taxes on companies and wealthy individuals from 50% to 66% in June. Individual taxpayers with gains over C$250,000 (USD$181,000) in a year will be hit. The gov wants the cash to make housing more affordable, which I guess will occur when companies and people move away because of the taxes.
EZ nat gas was up >20% in the last week due to Middle East tensions. Asian LNG prices reached their highest level since early Jan.
We’ve been talking about this for months. Higher-for-longer rates is not expected by investors and would cause a big shift in positioning for financial markets, per Reuters.
Analysts (and investors) are hoping that TSMC raises rev and cap ex forecasts on Thursday, per Bloomberg. This would come on the heels of ASML new orders missing expectations on waning demand for most advanced machines, per Bloomberg. The stock was down. So, if Taiwanese and South Korean chipmakers are not buying the Dutch co’s most advances machines….let’s guess why. Stockpiles of hardware used in smartphones, computers and cars. And China’s economy is weak, with inventories up.
Well, we can see that the US cares so much about AI that it let MSFT partner with UAE’s G42, per Axios.
Japan’s exports rose due to Chinese and US demand, but their imports were down because of pressured domestic demand, per Reuters. Maybe if their currency were stronger…
Housing starts show that inflation and rates matter. So, if the economy stays hot…inflation won’t decline…and housing will slip n slide.
Tesla is asking shareholders to approve Musk’s $56bn pay again…and to move from Delaware, which is where the pay package was shot down.