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SA Sentiment Survey
"Survey Monday" has turned into "Survey Tuesday" this week due to the holiday weekend. Take the latest SA Sentiment Survey for May, which explores hot topics and the investing decisions discussed by the Seeking Alpha community.
Click here to take the poll and don't forget to share your thoughts in the WSB comments section!
Eye on Japan
Japan has lost its status as the world's top creditor nation for the first time in 34 years, even as the country has maintained a strong investment appetite abroad. While its overseas assets topped JPY 500T ($3.47T) for the first time ever in 2024, it still trailed Germany's international investments.
The numbers: Japan's net external assets totaled a record JPY 533.05T (~$3.71T) in 2024, up 12.9% from a year ago, driven by a weaker yen and increased investments abroad. However, Germany's net external assets stood at JPY 569.65T (~$3.96T) last year, benefiting from a significant trade surplus. "Given that Japan’s net external assets have also been steadily increasing, the ranking alone should not be taken as a sign that Japan’s position has changed significantly," said Finance Minister Katsunobu Kato.
Bond market: In other news, Japan's finance ministry is reportedly considering trimming super-long bond issuance and has sent out a questionnaire to seek input from several market participants. This follows last week's auction of 20-year government bonds, which attracted the weakest demand in over a decade.
The move comes as Japan seeks to unwind its ultra-loose monetary policy, which has pushed domestic bond yields to multi-year highs and is raising concerns over higher debt-servicing costs. "The recent fragility in the Japanese government bond market seems to have justifiably spooked the finance ministry into action," said John Hardy, global head of macro strategy at Saxo, adding that "bond vigilantes were clearly on strike beyond the 10-year maturity in JGB auctions." Take the WSB survey here.
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What else is happening...
Trump delays EU tariffs, reprieve lifts market sentiment.
Tesla (TSLA) struggles in Europe as April sales plunge.
Volvo Cars (OTCPK:VOLAF) to lay off 3,000 workers.
Southwest's (LUV) checked bag fees kick in this week.
Trump Media (DJT) to raise $3B to spend on crypto.
Russia's aerial attacks on Ukraine draw Trump's ire.
France and Vietnam ink major deals, new Airbus order.
European port congestion threatens shipping costs.
SA Asks: What are the best robotaxi stocks now?
Goldman cuts forecast for weight loss drug market.
Today's Markets
In Asia, Japan +0.5%. Hong Kong +0.4%. China -0.2%. India -0.8%.
In Europe, at midday, London +0.9%. Paris +0.3%. Frankfurt +0.9%.
Futures at 6:30, Dow +1.4%. S&P +1.6%. Nasdaq +1.7%. Crude +0.2% to $61.67. Gold -2.1% to $3,294.80. Bitcoin flat at $109,771.
Ten-year Treasury Yield -4 bps to 4.47%.
On The Calendar
Companies reporting today include Okta (OKTA) and PDD Holdings (PDD).
See the full earnings calendar on Seeking Alpha, as well as today's economic calendar.
