Intel slumps 5%📲 Debt ceiling deal close🇺🇲 US core PCE & UK retail sales 👀

FlowBank's hand-curated fresh financial news [header_noDither] 26.05.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The FlowBank Championship officially started! More details are on our [website](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgYQ5N6h-B70CW6X0W6czdzL9cB78MVwqFnV5xsp3lW8c6NSN6F7ZvbVyn-wv89K9nNVzTF2W6hDdSKVvd8vC7jfswgVG26Md40Snc2N43W3Km5HYN3W7gvj-51VCnW3W3mfRXz1CJYxHVsW3wj3KGmJXW5fmHv02HDhYyW6VLJtV3TrHQnW9bzNmL3XK4NbW4zYdkw5tGhSF34Vw1)and [IG page](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgYwMN1CsB4k7ZCxRW13kHLs4cS8YhW35Xbwj229k1DW6Ph6gS1ZS6PtN6J5NSCGhW6LW8CRNcn1_Kz4YW379SKX3R9h6fW42QpBb5k6fngW8j0BQH3Qt_VbW8XxN0Q9f2fPlW3Z4-9r5RmdnYW58rf153n3sWQW4fqqQK7M7888W17hxyJ2__VHzW2N57fq3L31HcN8vp2vlw-ZR037yN1). The Big Story [intel] While the AI chip boom pushed Nvidia close to the $1 trillion market cap, the Intel share price slumped 5%. The diverging share price suggests that investors are ditching traditional CPU chip makers, such as Intel, in favor of GPU makers like Nvidia & AMD as AI requires fewer CPU chips & more GPUs. [Start Trading](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX_32-MK5V1-WJV7CgV58N5gD1nKMGq9NW2BrSDT8MHT31W5L6LPx1Wq-vrW7KHsbb8L-6m6W5_FHNN1SZMflW1CDLK47_PN4KW40xwlY5hwylcW1wslmg6bK1PjW3dmy3w84nM_hW3G9LsL72gcZ7N3cl_4qcG962W8j252K5zW_hLW1y_f-g43xl84N4nbHH8J-8YBN4_JcQTKXl4hW2vRP8p3kntq0W3KH9RS1VJYS3W7HwwZF4VmrwzW9fgwZ94HqCtRW30NkFT7GZ24s3fTG1) Trader's Corner In focus • Gold trades below $1950, after hitting a 2-month low yesterday as treasury yields & the USD rose. Attention is on US core PCE. Hot inflation could fuel rate hike bets & pull Gold lower. • FTSE trades at an 8-week low ahead of UK retail sales data, which is expected to rise 0.3% MoM after falling 0.9% in March. Economic data • Aus. &UK retail sales • US Michigan confidence • US core PCE, durable goods Earnings • IntegraFin [Start Trading](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX_32-MK5V1-WJV7CgWs7W6CJ_1b2PsrSNW65F4457vvxf1W7n5QCw5TwZQmW459Kt436xYJNW4F7K344m_-0zW6PqbfB6ql43jN3yyMZnfF_nKN6ykBZCtj44HW5BlGhk7Mr51MW8wsry28cFFChW8bzms125SKfkW5ZTHhc7jHMKfW5YyFb-7q1mmYW6TC_TF4XPXkzW16mhNF87rxLpW1FSbNB6z4Y4SW5TBFFV6HBncRW6QnrgQ290nP_N5ZmyZkn6sN5W3fHkKk4KYG993jwF1) Market Recap European indices close lower on Tuesday, amid negative sentiment surrounding debt talks and after Germany tips into recession. The eurozone’s largest economy contracted -0.3% QoQ, after contracting -0.5% in Q4 2022, amid weak household spending. The Nasdaq closed 1.7% higher, thanks to a Nvidia-led surge in tech. However, the Dow closed lower as the energy sector slumped, and Intel dropped 5%. US GDP was upwardly revised to 1.3% annualized, from 1.1%. Today, European futures are mixed, and US futures are losing steam after yesterday's AI excitement. All eyes are on debt ceiling talks, where Bidden & McCarthy are close to a deal. Core PCE data is also in focus as a 25 bps rate hike in June is now 50% priced in. Chart Of the Day US Treasury yields have rebounded, with the 2-year rising for 10th session in a row. Markets are concerned about: the path of inflation and labor, the Fed, and the debt ceiling. Traders may also lighten up positions as we approach the long weekend after Nasdaq investors cheered Nvidia's massive jump post-earnings. [US 2y yields](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgMZTW8YRn7f6qY_PZW99-5bJ42M1VGW6-vlgr5SH74zW3sY98t2yFf_wW5Nh6Cy6qKZ4BVWvBB76WRckCN5Y9X-l7hxhmW3qv4Qy1t8mZjW8r87TC4j8lt1W1fn_bF7cj0FBW7X_1GH7Z_jvsW6cPL9W8_fYTYW7kYY0Q8v6NPCW2nXKbD2lCTqWW8_W7Y55s-qRRV2ZBvN7tVN-4W380s0M3VTrVYW4CCBHp6pqhps31by1) [LINKEDIN](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgRzsW55TKhZ7mWH3cW6G_HSb1PFxlcVbL_Pc1gvMKJW8wMS8L4b7N15W1JZ5ns83lrdDW1JrFmQ52mMQBMgS6N7rZQ7HW3BrKCk8_PxHcW8fKrgY6v1ZB1VhDzS66T-kT8N6KvfbKgxXnbW6s872f9869yfW3qfSZf44Fj8SW5t8l-x4vZHvjW143bsx7h308JW51C1D58ry1zNVSVSSH6ysj24W8gxkJZ4_qFvR2jT1)Highlights Oil re-tests March lows in 'flash crash' fashion 📉 🛢 Traders doubt Russia reduced output as planned. Demand worries continue to weigh on the black gold. And oil prices fell sharply before rebounding, in a sign of thin volumes. Click [here](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX_m2-MKpV1-WJV7CgX5jW2BYdR73DRtF-W83Xfyf5Fq6yvW2NYpFg306mbfW6M5QTd5mL1-0W7qB0ZW39lBypW3jBB0X1DkrnGW2rbZ041qDC66W2-K4Vn7n2_VJW6cVY6B7rNm2gN4cHGy2PL1tbVMVXXl1xDXMHVFF6nt6nHs-LW97rZc52C4mzwW8QD_ZD3vdm_nW4t2brb356NDwW5TYVXN3gS_PlW4D-9MW1Kw0G5VnP_L91fymnhN7wsfJqTzZ7-N6DBdJ-j91zpVv1b4y3RRlMxW2MFpjg8mvXWN3lC01)to read more. [wti FLASH CRASH](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgTCcW204T696t0Vc5W1syz_p3lnF1BVzfNp53Byq2ZN7XxdLd_HDWJW8yGykY8tH2CDW2qRj2Q2-h1QPW8zJh_81d6xF_W4zy9dr2HPgXNW2cnZ871LsxS9W8fYF7Z72-8DtW6tVCd431Ll0cW5_wC3h8PvzYXN4n2dV6X4j8VW95RbfW3hQJfmW4M6Fsf6w9V9XW3cWLQK5vjZnPW215ShF9frXyDVVK5mg8vvbnh33n71) [LinkedIn](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgT17W3yHRkr4jkL-SW8s_klb6YYYccW4lDZBm23wC_pW6ZK26v2VPB-dW6Xx8Sj2V3lZ6W5MfQ0W92zX28W8JxmP67V7ctSW6lpH8R30ZJWXW1f8MSY3x2qZ0W5s0FZY8HqWgtW4M3G819hXv1rW8m28cQ74wLVBVx0j2G4ngrcPW6Fhm529jtsk4W4sxZqV2NzRk4W89B2y23h0FhXW8vYWqh8m58bSW6HQdj31RB1TR3j641) poll: How will the US debt ceiling affect stocks❓ [Vote here, we would love to know your views 💡](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX_m2-MKpV1-WJV7CgDXdW1LCNvb678yLjW6DmWBj45ZMDBN7Kd2_Kcb_J3W17sFYM1KgblPW92NQr28Vpq8DW5zqNlG3F5qmzSczl1vZgDqW8GvHLD1lCbqFW52CL364g89W-W3Dm-kn8cZp9XW8HK6H45c46fyW5jLPJD2MSx9pW3J3CcP66p8ZKW4xf8zH71PhhDW5y-Mjb3D5z-9W1xTnTR37-LryW8g9CKl7y93-fM5420DbGVDvW8M_5Tv3sc9cYW6-Kcd8702DPhW7ZvRm07Gz3r3W9bmLQC3ZX74G3m_31) [INSTAGRAM](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgRbFW5yBkP12p5Ch1W5Zzz2N7G9YT3W7rk6xK5JJgxZW1K6rjC92FZ6jW2HnHNn8q4x5qF8W8HDkWj4xW2yVC8L8SH1PrW3Xm_Nk4lvS9zW8HYqpr8MWJgdW7DmqTm9jKZj-W5yFW5l80CDWPN3YJwv8-p7BPW1nBZpM22wsq2W5cVvJp11Pn70V-3RxM2NlCrzN3LFhthm47Fv3ctR1)Highlights How to manage risks?⁣ 📊 Click [here](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgPs7VtT57p61HgFBW8JH9kY35QK5sW9gqWbW7RPZZKW2k0Jbb2Y-zbWW5SnpbC8ypXkMMB-zz_ZnFl2VnjfDq9b24npW71W-VG1nT1xnW44G09L6TSkbZW13zS711B3FCDW7MSVTF4DB0zjW3BMPNK6ntl25V9fw1P1mCXKKN3B-0__9pGD5W8KgmYh3lsq_CW3qhfDD4lPSSP2b71)to see our page. [How to manage risks](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgL6rW3Rxdt095SXFsW4tvwxs8xxfMjV5W8ny5zhbnRW5tmQNJ95FGbyW4F4NJh2nRbfXW14h9JW2qk_TTW7gdFcK6hyV7VW4MKpC06fcVyWW7ljDBJ4pl71gW3WKZ634_3w2PN2381Wf7LslkW6hM0qH3J-1NdW1-Jdnh1CYfRRW1YTYqq17hMCTW3yVbB-497_QLW5MRKMp82_x-gW8b3w5y3KGSLLW3KL1Wz2wvMj-3f1G1) FlowBank Blog Are Low US Equity Premiums Really Bearish for Stocks? [Bond analysis](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgGK9N8nKh8v9ZN4FW2B6xFY5V7VBWW1j5SPk830cDrMh28ybf6D14W40hdn126f89JW45KCC07wTF8RW60PcTQ4cHfHcN3n_dqdGCmHNN3dJFdn8LbDkW3qcqT539l3MRW2hWxVY4jmb-RN4DldQryN0HcW5vzYmr9jkr6yW4nX7rS6b08GwW4V79lf5RNMXqW4wf-Rh7jRQsLW1fgZx743B9TMV6Yl4566zgnn3pjw1) US equity risk premium has reached its lowest point in a decade, reminiscent of the period just before the Global Financial Crisis. That doesn’t sound good, but are things different this time? Get more from FlowBank [Join our LinkedIn Community](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgGtCW2TkgVF5QMmhmW4xL8rr5HnRmDW4jK_YL3cJWz2W3V_FfZ5qmK9DW6ql-tt2bT3JMW4QSZ8C6XkgdtW4sBRyJ7_5t2FW3TGHhh6YgKTyW3-ndvb7Mt23gW38rtB37R9ZfgW3frf344sBDtlW4hb8nt2JS_MDW6ZkYpy8C4r4mW4NSGCr1K3pvyW8RpBHv798Qz-W6YW5y_7TJ_vcW4RCDRb56CT7sVXnLJZ8RdHh033Zf1) [Read our latest Research](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgPkvW3ChJn97GwF0NVwzRF04SZk4jW3RcF4v1KMJr6N7Mj8B_C7gShW7mW2tT4KDth4W1WHCFW95tlQxW9f2fT71WWP-vN26D070GPGhNW4ph1jS85hXxTW8KHTHV8KjSGRN7gw5nGGtJpZW1CNy_b61yVkJW8RrNx48vsBH4N8wvb_yMtzB_W72NS6P5c7rtYW4Gl5y_4x-Z6bN6jM9JGhH6bWW5Dvs9R5nFvbW3cq41) [Subscribe to Flow TV](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgCH_W2mkNkM447gmjW1Trq7d7x7_dJW7H0gNW3mLPT5W8TWg-d5CXNqlW8BxsRv473_9dW3N7DMd1YGgvMVV-M5B1nqGZZW2gjG-l3Zct3qW7zYhpy1krPZXW8fD_pB48T4mzW1FS4fZ5YSjGbN2LYRdllbW6yW7kYMpL5lwg_mW34Q7pG1Mgg4NW66HkXP57RV47W6xGmvj37H_9V2pQ1) [flowbank-logo-2022-green-3] [Facebook](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgMqFN2g6t41nNwbwW5D5nj63MQNSCW320rPy4ch_XgW2NRDYc8fpytDW90HXdD99t7M2W3Znr4-83ZG1QVN8X0w8czVN_W1zRgjc8Q6vgWW1dHJf76lKFYlW6x7NyW8zmZvhW5t73nY6mMW9VW7njS4z5bPkGBW6Y8b6s7KMHH9W2QR0JQ88x381W3yfcC512QVF6VqB6cX6C94bD3qfQ1) [LinkedIn](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-N2-MJQV1-WJV7CgCFTN4gh253hvfCCW1z8z0697NdTnW3DgK9k1kKH60Vq10PM6sfpWrW4vBFtl88cl6SW4BSWLD6wW3sTN7q7J68tVDt9W4hj6Ds1ywBq_N9b6rKydLxvXW7D4gRR8vl0jnW8W4Jr76rMZbrW2MxPBy7H04KnW1R-jpt5_RnThW5M_mLJ6dx47PW2n4X6q40P2WQW6RZzG38tCp-SN2rl47_ST9P8W56KkDC1t0Dtk333z1) [Twitter](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgLJWMcbrrsrzKfdN49D5Xqt0Qt2W2nLLD72lbFB2V8zz9r5Nddw6W32j14X7SVd5wW8Hblyy73vCxDVywyJ-7HHkSmN74cwtZbCVjpW6kq3D39m29lnW22R0C06jgD2_VThhJs2zj6qfW5c1GKK5YXz3PVBn27F2DlT7QW6fY_HB68QG6nW3mr0PJ9kdTp_W8Rc3zJ7wrFhV36G01) [Instagram](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX-t2-MJwV1-WJV7CgJ4hW8hPr5L1krwDyN6LQHwxHmn9RW1975gw9kDwbqW1PJDbT2R3VnQVR6dH96ZdmZzVMjJdL7yLKDVW4jgXSx3PHz6pVpwXvn2tYdfYW2w4SJ44BDlphW8RWmhj1Z6YkDW6_WBSq1VfwzYW24VXsK7ksVVKW6vs50W5YyZ8JN80x3D-B4vgcW5HgBq76718F4W3f0cRS7Dr1kj3jBF1) [YouTube](113/cXx8Z04/VWYhDG8TK6XTW34LLPL8pp0yPW5j5c_V4_0lJpN1-yX_32-MK5V1-WJV7CgQt3W1cgrhH7SztNkW5wK7pR1LPjSCW18dbWF1rqn78W88fM5n3kfdWyW13ZsWF7DBsTWVzZ2Q85RRVFqW4Rk7ht1tGj38W12B6vK18JkHRVNvvPQ3TG8pcW5xC1GP1Dh2JTW3LvmyH4qK3qMW5HDvNM5fKG0LVjZxm_2JwFFDW95sBLq6BlP_QW30xt9Z1VM0gtW4gZGcS48M1Q1W1_P4Lr3hb82TW5skjDb2D9p25N32yGJR2M429W7Y3C3-5JvXcb2gw1) FlowBank SA, Esplanade de Pont-Rouge 6, P.O. Box 1303, 1211 Geneva 26, Switzerland, +41 (0) 22 888 60 00 [Unsubscribe]( [Manage preferences]( This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error, please notify us immediately, and delete it from your system. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. Although we scan attachments, we advise you to carry out your own virus check before opening any attachment.