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BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH As expected, Fed Chair Kevin Warsh delivered a distinctly hawkish message at Jackson Hole, signaling that the Fed will raise interest rates if inflation does not fall soon. “The Fed’s 2% objective, measured by the PCE price index, is a firm and fixed target. Price stability is not self‑executing, nor is inflation necessarily mean

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH The S&P 500 dropped 1.4% last week despite recovering 0.4% on Friday, ending a week marked by mixed retailers and tech earnings reports, and rising bond yields which occurred despite a surprise intervention from the US Treasury in an effort cap long term yields, announcing a potential doubling in the existing bond buyback program

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH The recent tech selloff was quickly erased and forgotten about as investors’ enthusiasm returned last week, enabling US stocks to close at a fresh record high, despite credit markets remaining more circumspect with free cash flow estimates still heading lower in the face of massive capex spending from Ai hyperscalers which tapped

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Last week’s major event was the downfall of a 22-year old “wunderkind” (“Leopold Aschenbrenner, a former Opean AI researcher) who had worked at FTX’s Future Fund (Sam Bankman-Fried) who had raised his AUM to USD45bn at some point in July for his “Situational Awareness” hedge fund before dropping -67% in a couple of weeks, trigger

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US equity markets continued to face the pressure from Iran war spiraling a new with contagion spreading to the Red Sea, establishing a potential second chokepoint at the Bab el-Mandeb Strait (connecting the Middle East and especially Saudi Arabia to the West via the Suez Canal) and D. Trump vowing to consider a “massive attack, b

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US stocks finished the week softer but not nearly as bad as Taiwan’s and Japan major index, down respectively 6.5% and 4.0%, still leaving indices and especially the tech heavy Nasdaq nursing losses for the week with multiple signs of bubbles faltering. After trading as high as $225 and being IPOed at $135 a share a week earlier,

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH While stocks showed some impressive resilience last week, it was tainted by a fairly counterintuitive trading pattern, evident in the way SP500 futures traded, immediately rewarding higher yields and the war in Iran restarting. At the same time, the story around SPCX lost further momentum as the stock traded back close to where i

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH In a holiday shortened period, US stocks closed the week higher, but not the Nasdaq and even less so the so-called AI trades (semis and hyperscalers) as investors rotated more towards “value” sectors, including large mega caps (such as AAPL, MSFT and Alphabet), enabling the Dow Jones to close at a fresh record high with some note

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Risk off prevailed for most of the past week with cross asset market instability rising and the Nasdaq driving stocks lower. Massive leverage in ETF’s and options-related hedging activity led to increase volatility in the AI trade and semiconductors in particular. Since weeks, whether it's active or passive funds, hedge funds or

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH During his inaugurating first press conference as Fed Chair K. Warsh pinpointed persistent US inflationary pressures and reminded the Fed’s responsibility to deliver on its price stability objective of 2%. This was good news but also took some market participants by surprise, leading to a rerating of expectations for a Fed rate h

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Last week action was incapsulated for the most part in last Friday’s all-round selloff which hit across markets, signaling a distinct return of risk aversion of which the catalyst was the “good news” of a seemingly much stronger than expected Non-farm payrolls on Friday which led to some rerating of US monetary policy tightening

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH As US stocks completed their ninth consecutive weekly gains, closing at fresh all-time highs at the end of the week, BoA strategist M. Harnett lamented about the biggest bubble since the railroads but fighting the move took even more courage as the US gears for historic IPO’s and a Fed likely to signal top policy tightening. One

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US stocks gained for an eight consecutive week last week, supported by expectations of a nearing resolution and optimism about the upcoming mega IPOs of SpaceX and OpenAI. In that context, BoA CIO Hartnett jumped out of the fence over the week end saying that “AI is the biggest bubble since the railroads (when it comes to the con

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH While US stocks managed to close marginally higher and for the seventh consecutive week (despite some serious roller coaster action), the bond market sell off last week was global with yields rising in the UK, Japan, Germany, Europe as a whole and Australia as a confluence of factors conjured from a political crisis in the UK, su

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US stocks witnessed another week of (moderate) gains, still finishing April at all time highs with 81% of stocks so far in the reporting period, beating expectations. The Fed’s decision on Wednesday to leave rates unchanged, keeping an easing bias, despite an unusually fractious FOMC vote that saw four officials break from the co

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US stocks climbed, led by the Nasdaq 2% weekly gain, still taking in stride the Middle East war as they remained driven by continued positive AI headlines and big earnings performance that propelled the semi sector 8% higher. The breadth among tech was not that great however with IBM and ServiceNow ending the week 10% lower. WTI

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report. Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Last week, global markets short squeezed further, embracing the scenario of appeasement and peace …which may or may not materialize at the look of the week end’s events. While D. Trump seemed in a hurry to declare victory on all points of his negotiation with Iran, Iran responded over the week end by restoring its authority on th

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report . Have a nice start of the week. Marc Bentin, Bentinpartner GmbH US stocks fluctuated to the tune of D. Trump’s Truth Social frustrated rage where he oscillated between genociding comments “a whole civilization will die tonight, never to be brought back again” (a comment that would have better suited Adolf Hitler than a US President) before holding a more conciliatory tone, opining “I agree t

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report . Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Wall Street staged a dramatic comeback with stocks climbing as oil fell on hopes that the war may be nearing a conclusion. US President D. Trump called on other nations to take control of the Strait of Hormuz, expressing his frustration that the monthlong war remains unresolved. “You’ll have to start learning how to fight for yo

BentinPartner Weekly Dear Reader, Please find below our latest Weekly Trend Report . Have a nice start of the week. Marc Bentin, Bentinpartner GmbH Risks to global markets and the global economy significantly increased last week with little sign of the TACO or central bank put surfacing. De-risking intensified, leading to cross asset selling in stocks, bonds, precious metals and even certain commodities except oil and gas. Major US equities broke key support levels last wee