Weekly highlights: Sung Cho (Goldman Sachs Asset Management) said financing AI investments need not be a major concern, while Kyle Bass (Hayman Capital) believes the Fed has room for further rate cuts. These contrasting views featured in the week's commentary. #FiatNews
U.S. outlook for 2026 (ΔSOB): The American economy should keep a solid growth pace fueled by AI-related investment, though a slowdown to about 1.7% growth is expected. Analysts anticipate stable inflation and lower interest rates next year. #US #FiatNews
Investment outlook 2026: Analysts expect a generally favorable macro backdrop but heightened risks. Markets remain driven by AI enthusiasm, while investors increasingly question where the AI cycle may peak. (Summary of 2026 outlook) #FiatNews
The Prague stock exchange rose, with the PX index up just under 1%. Notable winners included Erste, ΔEZ, Doosan and Moneta, while Kofola ended the week lower. #PX #FiatNews
Commodities were calm: Brent crude edged back above $60 per barrel. Gold ticked up to $4,345 per ounce and was set for a weekly gain, supported by expectations for Fed rate cuts next year. #Brent #Gold #FiatNews
The yen weakened sharply after the Bank of Japan raised its policy rate to 0.75%. The yen lost more than 1% versus the dollar, taking the USD/JPY pair to a one-month high. Both the euro and the pound reached historic highs against the yen. #BOJ #JPY #FiatNews
European markets finished the week positive as the Stoxx 600 gained 0.3% to a record level. Sector performance was mixed: sportswear names Puma and Adidas fell amid worries over Nikeβs weak results in China, which triggered a sharp sell-off in Nike shares. #STOXX600 #NKE #FiatNews
US stocks closed higher on Friday as traders returned to AI bets; the Nasdaq Composite rose about 1%. Oracle led gains after TikTok agreed to sell its U.S. operations to a joint venture including Oracle and Silver Lake. Micron climbed after an upbeat memory-chip demand outlook; Nvidia rallied on reports the U.S. administration may consider easing exports of advanced AI chips to China. #NASDAQ #ORCL #MU #NVDA #FiatNews
Howard Marks, founder of Oaktree Capital Management, discussed on Bloomberg on 19 December 2025 the existence of two types of financial bubbles and assessed the health of the current equity market. He warned that not all bubbles arise from weak fundamentals; some are driven primarily by market enthusiasm for particular financial structures.
Marks identified one category of bubble rooted in traditional mismatches with fundamentals, and a second that he described as βbased only on the high popularity of some form of financial engineering.β He suggested this latter type can inflate independently of underlying economic value, posing distinct risks to investors and markets.
Speaking as an experienced credit and investment manager, Marks framed the discussion as a caution about where exuberance is concentrated rather than a forecast of imminent collapse. His remarks underscore the need to distinguish bubbles driven by sentiment and product innovation from those reflecting deteriorating fundamentals. #HowardMarks #Oaktree #bubbles #equities #FiatNews
The Czech National Bank (CNB) reported that combined net profit of banks and savings banks in the Czech Republic rose by CZK 9.4 billion yearβonβyear to CZK 100.4 billion in the first three quarters of 2025. This increase reflects aggregated results across the domestic banking sector for the period.
In absolute terms, the sectorβs net profit for JanuaryβSeptember 2025 was CZK 100.4 billion, up from about CZK 91.0 billion in the same period a year earlier. The CNBβs figure covers all commercial banks and building societies operating in the Czech market.
The report was published on 19 December 2025 by the CNB and summarizes sectoral profitability through the third quarter of the year. #CNB #CzechBanks #CZK #Banking #FiatNews