blackrock the largest asset manager in the world with 9 trillion in assets says interest rates will rise another 75bps but janet yellen says they aren’t going higher around the world the dedollarization trend is in full swing   countries–like china and brazil–have recently stepped up their efforts to avoid the dollar but dethroning it could take decades   meanwhile hedge funds are betting on a reversal in the usd in the coming months   leveraged funds were net short all major currencies against the dollar last week for the first time since january 2022 consumer sentiment ticked up in april but their outlook for shortterm inflation rose sharply   expectations for 1year inflation jumped to 46 from 36 in march the sharpest increase since may 2021   longterm inflation expectations 5year on the other hand have remained unchanged for 5 consecutive months at 29 us retail sales declined for the second straight month in march   as interest rates rise americans are spending less on bigticket items like vehicles furniture and appliances   overall sales dropped 1 monthovermonth much more than the 04 decline expected by economists   the decline suggests the fed’s efforts to slow down the economy are working albeit slowly general motors gm is planning to replace apple’s aapl carplay app on many of its new electric vehicles with its own display screen software   the strategy echoes that of other ev makers like tesla tsla which aims to capitalize on potential billions from vehicles’ digital real estate and services   revenue in the region rose nearly 50 over the period   the company will be opening its first stores in the country this week and is adding local production at an increasing rate credit suisse cs investment fund outflows have accelerated over the last 3 weeks   since its merger with ubs redemptions have reached 56 billion   however 240 million in net inflows from april 56 offer an early sign that investor uncertainty may be easing is the current bear market for us stocks approaching its final leg   sectors that typically perform best at the end of a bear market—stapes healthcare and utilities—have been improving   meanwhile the performance of industrials and financials are in line with their averages toward the end of previous bear markets efforts to bring new liquified natural gas lng projects online in the us are facing headwinds   many projects are being delayed as increased competition between developers and rising costs make it difficult to secure longterm purchase agreements   even so the war in ukraine has kept demand for american fuel exports strong as critical regional bank earnings approach the biggest us banks are thriving with jpmorgan citi and wells fargo posting strong profits comfortably topping estimates   jpm  432 eps vs 341 expected 3934 billion in sales vs 3619b expected   c  219 eps vs 165 expected 2145 billion in sales vs 1999b expected   wfc  123 eps vs 113 expected 2073 billion in sales vs 2008 expected   xai corp shortly after calling ai “one of the biggest risks to the future of civilization” elon musk created his own ai company   warning morgan stanley’s mike wilson warns the sp 500’s rally is at risk due to poor market breadth inflation and rising yields   defamation dominion voting systems and fox news go to trial today 2 years after the former filed a 16 billion defamation suit   climate g7 countries have pledged to accelerate the phasing out of fossil fuels in favor of renewables   logistics freight shipments and transportation costs fell 4 and 12 yoy in march respectively   tiktok montana lawmakers approved a bill to ban tiktok across the state   home decor target is expanding its designer partnerships in an effort to compete with lowe’s and home depot   bank policy global regulators are considering stricter rules on smaller us banks that would require them to be prepared for faster runs on deposits   ethereum ether hit an 11month high after seeing 21 billion in postshapella withdrawals   chasing yields defi protocol gamma has watched total value locked tvl double in the past month   shaq shaquille o’neal has been served legal documents in the ftx classaction lawsuit   stablecoins lawmakers have released a new discussion draft bill to provide a regulatory framework for stablecoins in the us   exploit lending protocol hundred finance lost 7 million after a hack on the optimism blockchain   biotech merck  co will acquire prometheus biosciences in a 108 billion deal   retail bid apollo global management has made a takeover bid for uk online retailer the hut group thg   metals miners vale sa anglo american and freeportmcmoran are among the miners that have expressed interest in teck resources’ base metals unit