Summer 2022.

Fed tightening expectations climbed following decent jobs report. The market is now pricing for the Funds Rate to be 3.48% on 12/22. A 75bp hike on 7/27 is widely assumed.

We are in Europe where the Euro has fallen to parity w the USD. Germany’s econ situation is stable for now. The Nord Stream 1 pipeline will be closed for “maintenance” on 7/11/22. If Gazprom ends all supplies, Germany will likely face a severe recession. Imports from Russia are at the highest levels since 2014 due to higher energy prices.

The ECB is reluctant to increase interest rates to help combat inflation, helping stronger EU countries in turn hurts weaker Euro countries with higher debt.

Hello from Hamburg.
Hello from Hamburg.
Hello from Hamburg.

Published by Andreas Koudellou

A senior associate focusing on early stage-companies. As a foodie I am a recognized expert on where to find the best dry-aged beef in NYC. I have a deep finance and international relations background, getting my start at the Council on Foreign Relations, UN and then on to HNW/UHNW capital management.

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