Brace for the World Economy's Most Important Week of the Year


Video commentary for June 11th 2018

Eoin Treacy's view
A link to today's video is posted in the Subscriber's Area.

Some of the topics discussed include: News heavy week ahead so how are markets looking? Silver firm, gold steady, Tesla extends rebound, Yen weak, Nikkei first step above the base, Pound pulls back, Treasury yields consolidating below 3%.

Brace for the World Economy's Most Important Week of the Year
This article by Simon Kennedy for Bloomberg may be of interest to subscribers. Here is a section:

Trump and North Korea leader Kim Jong Un convene in Singapore for their on-off summit, the first such meeting ever.

Trump last week predicted “great success” and said it’s possible he could sign an agreement with Kim to formally end the Korean War. Back in Washington, the government releases a monthly report on inflation that will be a key gauge of how hot -- or not -- the U.S. economy is getting.

Trump, Kim Said to Be Planning One-on-One Talk at Summit Start

These Are the Dealmakers Behind Trump and Kim

What a Trump-Kim Deal May Look Like

Eoin Treacy's view
The Trump – Kim conference is going to be short with both planning to leave Singapore tomorrow afternoon Singapore time. That means an outcome, whether positive/negative will be available by the open on European markets Tuesday. It is in both their interests to appear strong but they both need to come away with a win so the most likely scenario is to agree to meet again.Continues in the Subscriber's Area.

How Fitbit is trying to transform healthcare, and itself
This article by Mark Sullivan for Fastcompany.com may be of interest to subscribers. Here is a section:

In the future, Fitbit hopes to leverage Google’s machine learning capabilities to draw even deeper insights from the combined data sets. For instance, machine learning algorithms might be able to see indications in the data that a user is at high risk for a certain disease, then proactively treat them for it.

The Google machine learning is just one of the deliverables in Fitbit’s recently-announced partnership with Google Cloud. The combined Fitbit and Twine Health services and data will be served up to healthcare providers via Google’s cloud and healthcare API. Google could also give Fitbit the scale it needs to integrate with large hospitals and insurers. It’ll also give Fitbit a HIPAA-compliant data repository that can connect with the electronic medical records (EMR) systems used by health providers.

Eoin Treacy's view
Fitbit did not only fail to pick up on the evolution of smart watches but compromised on the quality of its products when it sought to reduce prices. That is why I personally dumped our family’s Fitbits and decamped for Garmin and Apple.Continues in the Subscriber's Area.

Bitcoin Tumbles Most in Three Months Amid South Korea
This article by Eric Lam and Jiyeun Lee for Bloomberg may be of interest to subscribers. Here it is in full:

Bitcoin extended losses for a third day, tumbling 12 percent Sunday as South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

The largest cryptocurrency declined to $6,749 as of 2 p.m. in New York, the biggest drop since March 14, according to data compiled by Bloomberg from Bitstamp pricing. That widens Bitcoin’s losses for the year to 53 percent. Peer cryptocurrencies Ethereum and Ripple fell 11 percent and 12 percent, respectively.

Coinrail said in a statement on its website that it’s reviewing its system due to hacking attempts. The exchange says it has managed to freeze all exposed NPXS, NPER and ATX coins, and that other cryptocurrencies are now being kept in a cold wallet. The statement is the only content available on the exchange’s homepage, and contact information could not immediately be located.

The exchange trades more than 50 different cryptocurrencies and was the 98th largest, with a 24-hour volume of about $2.65 million, according to data from Coinmarketcap.com.

Eoin Treacy's view
Cryptocurrency exchanges are hacked with uncomfortable regularity with relatively large percentages of investors having had their portfolios stolen via hacking operations at exchanges or from plain old ransomware. Here is a section from an article on CNBC from last Friday:

Roughly $1.1 billion worth of cryptocurrency was stolen in the first half of 2018, and unfortunately for owners, it's pretty easy to do, according to cybersecurity company Carbon Black.
Criminals use what's known as the dark web to facilitate large-scale cryptocurrency theft. There are now an estimated 12,000 marketplaces and 34,000 offerings related to cryptotheft for hackers to choose from, the company said in a study released Thursday.
"It's surprising just how easy it is without any tech skill to commit cybercrimes like ransomware," Carbon Black Security strategist Rick McElroy told CNBC. "It's not always these large nefarious groups, it's in anybody's hands."
The necessary malware, which McElroy said even occasionally comes with customer service, costs an average of $224 and can be priced as low as $1.04. That marketplace has emerged as a $6.7 million economy, according to the study.

Biggest Electric-Vehicle Battery Maker Soars 44% on Debut
This article by Ma Jie for Bloomberg may be of interest to subscribers. Here is a section:

Shares of the world’s biggest maker of electric-vehicle batteries jumped on their trading debut as investors bet on rising demand for new-energy cars worldwide.

Contemporary Amperex Technology Ltd. rose by the maximum 44 percent to 36.20 yuan at 10:17 a.m. in Shenzhen, China, valuing the company at about $12.3 billion. The manufacturer sold a 10 percent stake at 25.14 yuan a share in its initial public offering on May 30.

Investors are confident that CATL, as the company is known, can fend off rivals including Panasonic Corp. and continue to win orders as automakers move toward electric vehicles. CATL, whose customers include Volkswagen AG, had reduced the size of its IPO by more than half compared with its original ambitions because of declining margins and a cap imposed by Chinese authorities on price-earnings ratios in IPOs.

Eoin Treacy's view
CATL produces more batteries than Tesla and is likely to continue to do so well into the future considering the pace of factory building it has planned. China has every intention of dominating the battery sector both because it is the largest auto market but also because it has a clear aim to become globally competitive in auto exporting. Additionally, as an energy importer it has a clear reason to reduce imports of oil if at all possible. That suggests China will be investing heavily in batteries for the foreseeable future. Continues in the Subscriber's Area.

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