📑 Research Notes for 2023-04-03
This week, we look at OPEC's surprise cut, Chinese war preparations, China and Brazil's trade deal, falling U.S. M2 money supply, and a coordinated G7 crypto regulation push.
We conduct extensive investment research and share the most interesting content that we come across every week. Here is a curated list of this week’s top observations.
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Last Week’s Market Performance Heatmap
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OPEC+ Members Announce Voluntary Oil Output Cuts to Support Prices and Balance Market.
OPEC+ members, including Saudi Arabia, have announced voluntary oil output cuts in an effort to support oil prices and balance the market. The cuts will begin in May and continue through July, with Saudi Arabia taking the largest reduction of 1 million barrels per day. The move comes as global oil demand remains weak.
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Change is Coming - Xi Jinping Prepares China for War with US, Says Foreign Affairs Report.
Chinese President Xi Jinping has reportedly told his military commanders to prepare for war, according to a report in Foreign Affairs. The report suggests that Xi is seeking to strengthen China's military capabilities and is preparing for a potential conflict with the US. The move comes amid rising tensions between the two countries over issues such as trade, technology, and human rights. The report argues that the US needs to take China's military buildup seriously and develop a comprehensive strategy to counter it.
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China and Brazil Strike Deal to Ditch Dollar for Trade.
China and Brazil have agreed to use their own currencies instead of the US dollar in bilateral trade transactions. The move is aimed at reducing their dependence on the US dollar and increasing trade between the two countries. The agreement was signed during a virtual meeting between the two countries' central bank governors.
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US Money Supply Falling at Fastest Rate Since 1930s.
The US money supply is falling at the fastest rate since the 1930s, according to data from the Federal Reserve. This is due to a decrease in the amount of money being created by the central bank, as well as a decrease in the amount of money being lent by commercial banks. The decrease in the money supply could lead to a decrease in economic activity and potentially a recession.
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G7 Agrees to Implement Common Crypto Regulations by 2023 in Hiroshima Meeting.
The G7 finance ministers and central bank governors have agreed to work towards implementing common regulations for cryptocurrencies by 2023. The decision was made during a meeting in Hiroshima, Japan, where the officials discussed the potential risks and benefits of digital currencies. The G7 countries include the United States, Canada, Japan, Germany, France, Italy, and the United Kingdom. The move towards regulation is seen as a way to prevent money laundering and other illegal activities associated with cryptocurrencies.
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Curated by Joseph Lu, CFA®
Joseph is the founder and managing director of Conscious Capital Advisors, and a CFA® Charterholder.
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