Finimize - 🇬🇧 The UK beat America

UK inflation swaggered in bang on target | Another EV maker went bankrupt |


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Today's big stories

  1. The UK beat the US and eurozone to inflation coming in on target, but some of the figures were easier on the eye than others
  2. These five massive shifts are reshaping the global economy – Read Now
  3. US carmaker Fisker filed for bankruptcy, becoming the latest company turned into scrap by the pressure of the EV industry

Land Of The Glee

Land Of The Glee

What’s going on here?

The UK announced that inflation was bang on target for the first time in three years, earning the country serious bragging rights over Europe and the US.

What does this mean?

British inflation came in at 2% for May, marking a major milestone in the fight against the steepest price rises in a generation. But the battle isn’t won yet. Core inflation, which excludes volatile food and energy prices, is still well above target at 3.5%. Services inflation is proving stubborn too, improving by only a smidge over the last month. So while the headline figure puts the Bank of England on track for interest rate cuts later this year, it won’t be rushing into anything. That’s why traders aren’t unanimously expecting the first cut until November – and why you can’t bank on any trimming of the 16-year-high interest rate from the central bank’s next announcement on Thursday.

Why should I care?

For markets: Hare and the tortoise.

The UK’s win puts the country ahead of the US and eurozone in their efforts to calm inflation. That’s some underdog story. British inflation notched the highest peaks and slowest drops out of the trio, making it seem that the UK would be stuck in the mud for the longest. But then, inflation started slipping in Blighty without budging elsewhere. The exact reason is hard to pinpoint, but aggressive rate hikes, effective energy price caps, and a stable currency will all certainly have helped.

The bigger picture: The win is a loss in disguise.

Remember, though, that even 2% inflation means prices are still rising. In fact, Brits are now up against prices that are more than 20% higher than they were in 2020. And unless the country's bosses suddenly do a synchronized act of goodwill and make wages high enough to cover that price increase, many households will continue to feel the strain.

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Analyst Take

Five Trends That Will Change How You Invest

Five Trends That Will Change How You Invest
Photo of Stéphane Renevier, CFA

Stéphane Renevier, CFA, Analyst

The global economy is on the brink of a game-changing few decades, set to veer sharply from the patterns we’ve seen in the previous ones.

It will mean shifts in interest rates, inflation, and growth – reshaping everything, including how you invest.

And much of it will be driven by five major swings that are already altering markets.

That’s today’s Insight: the trends that will change how you invest.

Read or listen to the Insight here

Bulls have horns for a reason

Change might scare some of us – but it excites plenty, too.

Case in point: when financial markets start moving as quickly as they are today, many investors take the opportunity to go against the grain or seek quick turnaround trades.

That’s where leveraged and inverse ETFs come in. The first lets traders amplify their high-conviction trades, while the latter lets traders bet on price dips without having to “short” assets. 

That means you could put a bigger bet on a market move or technical signal without accessing more capital. So if you’re a risk-tolerant trader, you’ll want to find out how to use them safely and effectively.

Our free guide with Direxion – a platform that specializes in tools for decisive investors – has the lowdown: discover how you could use leveraged and inverse ETFs to amplify your trades.

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An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. Click here to obtain a Fund’s prospectus and summary prospectus or call 866-476-7523. A Fund’s prospectus and summary prospectus should be read carefully before investing.

Leveraged and Inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and who actively manage their investments.

Direxion Funds Risks — An investment in the Funds involves risk, including the possible loss of principal. The Funds are non-diversified and include risks associated with concentration risk which results from the Funds’ investments in a particular industry or sector and can increase volatility over time. Active and frequent trading associated with a regular rebalance of a fund can cause the price to fluctuate, therefore impacting its performance compared to other investment vehicles. For other risks including correlation, compounding, market volatility and risks specific to an industry or sector, please read the prospectus.

Direxion Shares ETF Risks — An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF’s investments in a particular industry, sector or company, which can increase volatility. The leveraged and inverse ETF utilize derivatives, such as futures contracts and swaps which are subject to market risks that may cause their price to fluctuate over time. The leveraged and inverse ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index or underlying security for periods other than a single day. The leveraged and inverse ETFs may also be subject to leverage, correlation, daily compounding, market volatility and risks specific to an industry, sector or company. The non-leveraged ETFs are subject to certain risks, including imperfect index correlation and market price variance, which may decrease performance. The non-leveraged ETFs may invest in a relatively small number of issuers and, as a result, be subject to greater risk of loss with respect to its portfolio securities. The non-leveraged ETFs may experience greater fluctuation in its net asset value as compared to other investments. The non-leveraged ETFs may be appropriate for investors with a long-term investment time horizon, who primarily seek capital growth, and who are able to tolerate periods of prolonged price declines. Please read each ETF’s prospectus for a more complete description of the investment risks. There is no guarantee that an ETF will achieve its investment objective.

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Punch Drunk

Punch Drunk

What’s going on here?

Fisker filed for bankruptcy, becoming the latest EV maker to end up beaten and bruised by the volatile auto market.

What does this mean?

Fisker went public in 2020 and hit a peak valuation just shy of $8 billion in early 2021. But since then, it’s been stuck in reverse. The US firm fell short of sales targets in both Europe and the US last year, not least because it delivered only half of the roughly 10,000 new SUV models it made. To make matters worse, Fisker couldn’t snag financing from any major automaker. That forced it to halt operations, pause manufacturing, and cut its workforce. And those aren’t the only problems under the hood: Fisker’s cars are under investigation by the US auto safety regulator over complaints about their braking system.

Why should I care?

Zooming out: Slamming on the brakes.

Fisker is the latest casualty of the EV industry’s cutthroat climate, which recently sent Lordstown Motors and Arrival into the scrapyard. Supply chain issues, a price-cutting war between Tesla and Chinese producers, and trade tariffs have all hammered companies’ bottom lines. That, at a time when demand is waning. Drivers have been put off by generally high prices, as well as concerns about sparse charging points. It hasn't helped that high borrowing rates have made it tough for smaller brands to reach the manufacturing scale needed to pad out profit margins.

The bigger picture: The self-fulfilling pricing prophecy.

Cost-conscious eco-warriors might be able to nab a deal, though. Companies are making more cars than they’re selling, so they’re cutting prices to shift them. That’s making models – especially used ones – that bit more affordable. Case in point: the average price of a used EV fell below that of regular cars for the first time in February, and that gap is only getting wider. Problem is, that’s hardly incentivizing anyone to buy expensive, top-of-the-line EVs.

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