🏦 Wall Street was wrong

Airbus bagged the world's juiciest order from IndiGo | China's banks cut lending rates | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for June 21st in 3:09 minutes. 🤖 Investing can be complex, but AI is here to simplify it. Join Magnifi’s Ian Rosen for [Your Guide to Investing with Artificial Intelligence]( on July 11th and learn how AI is helping wily investors stay ahead of the curve. [Get your free ticket]( Today's big stories - Airbus bagged the biggest aircraft order in history from India’s IndiGo - Here’s how Wall Street’s 2023 forecasts are working out so far – [Read Now]( - Chinese banks cut their benchmark lending rates for the first time in almost a year Plane Sailing [Plane Sailing] What’s going on here? Airbus, the European aircraft behemoth, just hit a sky-high record, [inking]( a deal to sell 500 planes to IndiGo. What does this mean? The global aviation industry has been on a rollercoaster ride lately. A few years ago, it was all about grounded fleets and massive losses. But fast forward to today, and we’re seeing soaring profits and gung-ho airlines outbidding each other with record orders. The Paris Air Show, taking place this week after a four-year hiatus, is the perfect stage to showcase that newfound pizzazz – and Airbus has gone and stolen the show, bagging the biggest aircraft order in history from IndiGo, India’s largest airline by market share. Why should I care? Zooming in: Possible turbulence. All that gusto has got some industry veterans warning that airlines might be biting off more than they can chew. Just months ago, Air India set a record with an order for 470 aircraft. Add to that the huge purchases by Ryanair and Saudi startup Riyadh Air earlier this year, and we’re looking at announced deals nearing 1,500 airplanes. See, if economic growth slows and travel demand dips after the post-pandemic rush, airlines could find themselves back in the red. And if that proves to be the case, then they could be back to their loss-making ways sooner than Ryanair starts [charging]( passengers to use the toilet. The bigger picture: High-flying future. This deal is more than just a feather in the cap for the aviation industry: it’s a testament to India’s growing global stature. After all, India recently leapfrogged China to become the world’s most populous nation – and unlike China, India’s population is predominantly young and growing. So, with half of its population under 30 and over two-thirds in the working age bracket, it’s no wonder India’s on track to become the world’s fastest-growing major economy in the near future. You might also like: [How to invest in the airline industry.]( Copy to share story: [/plane-sailing]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Plane Sailing&utm_campaign=daily-global-21-06-2023&utm_source=email) Analyst Take The Pros Got It Wrong: How The Big Calls For 2023 Are Panning Out [The Pros Got It Wrong: How The Big Calls For 2023 Are Panning Out]( By Russell Burns, Analyst Every January, the best-known names across Wall Street release their [predictions for the coming year](. They usually [make headlines]( for a while, and then mostly get forgotten. But [this year’s been a banger](, and a lot of those experts have been scrambling to update those forecasts. So, as we rush up to [2023’s halfway mark](, it seems like a great time to take a look at how the big calls for this year are panning out, how they’re changing, and what to look for as we head into the second half. That’s today’s Insight: [the stock market rally, the 60/40, and the big calls that went wrong.]( [Read or listen to the Insight here]( SPONSORED BY MAGNIFI Artificial intelligence could change the world, starting with your investments Big businesses will use artificially intelligent solutions to transform their books. You could too. Just check out [Magnifi](: the app and web-based platform has harnessed the power of conversational artificial intelligence so that you can [streamline your entire investment process](. [Add your different accounts](, and Magnifi will break down exactly what you could change to [better diversify your portfolio]( and tip your [risk-reward profile]( more toward the nicer half. And if you have specific questions or stocks you want to research, just [ask Magnifi’s chatbot]( and you’ll get a top-notch answer in seconds – no more clunky calculations or spreadsheets. You’ll keep total control over your investments, mind you: think of Magnifi as [your investing copilot](, not a self-driving plane. All that, in a platform with [no minimum investment fee](. Make sure artificial intelligence doesn’t leave you behind: [get 50% off Magnifi’s ultra-modern investing tools](. [Find Out More]( Advisory services are offered through Magnifi LLC, an SEC Registered Investment Advisor. All investments involve risks, including possible loss of principal. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk. See Terms and Conditions at magnifi.com Discount available for new Magnifi members only. When you support our sponsors, you support us. Thanks for that. China’s Chop [China’s Chop] What’s going on here? Chinese banks did a bit of a pivot on Tuesday, [cutting]( their benchmark lending rates for the first time since the dog days of last summer. What does this mean? China’s economy kicked off the year at a sprint, but recently, it’s been more of a leisurely stroll. Retail sales, industrial production, and infrastructure spending all dipped in May, which is why the Chinese central bank decided to [trim]( both short-term and medium-term interest rates last week, marking the first cuts since August 2022. Chinese banks followed suit on Tuesday, shaving their own benchmark lending rates. Both the one-year and five-year “loan prime rates” got a 0.1 percentage point trim, leaving them at 3.55% and 4.2% respectively. The game plan: to make borrowing cheaper and give the Chinese economy a much-needed adrenaline shot. Why should I care? Zooming in: Real estate, real difficult. Investors were crossing their fingers for a bigger, 0.15-percentage-point cut to the five-year rate. You see, that rate’s tied to mortgages, and a heftier cut could have given a greater boost to the country’s ailing property market. And this isn’t small beans we’re talking about: after all, the property sector accounts for a whopping [24%]( of China’s economy. So, many economists think that it’ll take more than this to breathe life back into the property market – like financial lifelines for cash-strapped developers or government incentives aimed at reducing mortgage down payments. The bigger picture: The crowd goes mild. May’s economic slowdown has some economists adjusting their predictions. JPMorgan, UBS, and Standard Chartered all trimmed their 2023 growth forecasts to 5.5% or lower last week. And not to be outdone, Goldman Sachs joined the choir over the weekend, lowering its own forecast from 6% to 5.4%. But let’s not lose perspective: these new estimates still outstrip China’s official 5% growth target – its least ambitious one in over thirty years. You might also like: [How China’s mortgage boycotts could hit your portfolio.]( Copy to share story: [/chinas-chop]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=China’s Chop&utm_campaign=daily-global-21-06-2023&utm_source=email) 💬 Quote of the day "Never trust people who smile constantly. They're either selling something or not very bright." – Laurell K. Hamilton (an American fantasy and romance writer) [Tweet this]( SPONSORED BY CME GROUP You could hedge your portfolio better than ever with futures [Futures]( are different than trading straight stocks, it's true. But when you strip out the jargon, they’re simply [contracts that let you buy or sell an asset]( for a set price sometime in the future. That’s a trick to have. You could [use futures to profit]( if an asset’s price changes as you expect it to, or to cover your back by [using the trade as a hedge.]( And really, it's just another asset traders can use to express their opinion on the markets when you look at it step-by-step. This [free guide]( walks you through [what futures are, key terms]( you should know, a [worked example of trading them](, and their risks. Therefore, if you want to get to grips with futures, [check out the free CME x Finimize Futures 101 guide here](. Disclaimer CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc. [Discover the guide]( When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up Soon... All events in UK time. 🔥 [Co-Trading: A New Way To Beat The Market](: 5pm, June 26th 🚀 [Your Guide To Investing With Artificial Intelligence](: 5pm, July 11th 🤖 [Artificial Intelligence & Crypto Investing](: 7pm, July 20th 🎉 [Modern Investor Summit 2023](: 12pm, December 5th and 6th 🎯 On Our Radar 1. The naked truth. Here are some memorable moments in the controversial [history of nude art](. 2. Sorry, beautiful people. Google Shopping’s introducing a new AI feature, and models could be [in trouble](. 3. Rich and relishing it. Here’s what [being wealthy]( feels like. 4. It sounds like I, Robot. But this [robotic shape-shifter]( is meant to help on future space missions. 5. Forget the tortured geniuses. You don’t need [to suffer]( to make great art. ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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