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The US Q1 2024 GDP growth and inflation numbers today are a car crash. Growth is slowing, inflation is rising, and big firms (like Meta) are missing their numbers. US could be headed for a nightmare stagflation scenario.
LLOY looks fairly valued right now, at 7 x PE, broadly in line with the global bank average. Dont forget the car-loan DCA scandal is just a few months away from a ruling by the FCA, with costs potentially soaring into the billions. And Labour are shaping up for a whole new world of envy politics in 2025, such as a bank windfall tax, extra pension tax, and extra landlord tax. There's plenty of reason to be cautious.
LLOY may dip back into the 40s in the coming days. The Meta (Facebook) results and forward guidance this evening are an absolute train wreck. FTSE100 futures suggest the index will tumble back under the 8000 level tomorrow, dragging LLOY and others down with it.
Russia's GDP today is growing at a rate of 3-6% YoY. It's one of the fastest-growing economies on the entire planet. The war factories are humming at full capacity, 24-7-365. Western sanctions have had little to no effect.
The UK is already (much) closer to the USSR than we realise. The extortionate (and rising) tax, the vicious enforcement of wrongspeak and thoughtcrime, the growing restriction on freedom of domestic travel, the state nannying in every public space, the encroachment to control what the population say and do in their private home, the queues to see an NHS doctor longer than a 1970s USSR bread queue... All the signs are there.
Alright, people. We bought the dip. Now time to let it rip.
The (huge) buyback is underway. DEC is growing revenues, slashing debt and growing profit.
At a PE of 1, versus an oil-gas-sector average of 7, the upside potential here is eye-popping 🚀
Gunsup,
Fun fact... Israel-Iran is the world's first ever war in space.
Israels's Arrow 3 system -- made by IAI and Boeing -- is intercepting some Iranian ballistic missiles outside Earth's atmosphere. The planet's first off-Earth conflict was an intercept from a Houthi attack on Israel in Oct 2023. And now several more exoatmospheric intercepts from Iran were confirmed last weekend in Apr 2024... Star Wars is upon us.
FTSE 100 looks set to tank 100 points today. Israel-Iran tensions, Ukraine nuke plant meltdown fears, hotter inflation in US, China GDP growth meh, sticky wage growth in UK, unemployment wobble in UK, terror alerts rising everywhere from Russia to Australia to Paris. April is on track to be the worst month for the markets for some time.
MNG has plunged a staggering -20% in the past 3 weeks, during a period when the FTSE 100 overall has risen +1%. That is a very bearish sign. Wouldn't be a surprise to see this drift back down to test the 150-175p range.
Yup, a ridiculous headline. Iran is ~600 miles away from Israel, and it must cross the land of their worst enemy (Iraq) to get there. Meanwhile, Iranian drones are made with lawnmower engines! This was just a bit of theatre, for the Iranian masses in the domestic arena. Play some rockets and explosions on the evening TV news, and the people will think they got a win. WW3 is postponed (for now).