Germany is being hit by a heat wave and another drought.
Economically important waterway Rhine has lower & lower water levels. The depth of the Rhine at the gauge tower at Kaub has sunk to 1.06. Source: HolgerZ, Bloomberg
China's Inflation Rate Eases to Zero
Deflation in China? China's Consumer Price Index (CPI) year-on-year growth rate in June dropped to 0% (prev. 0.2%). Producer Price Index (PPI) year-on-year growth rate dropped to -5.4% (prev. -4.6%). Source: Bloomberg
S&P 500 Concentration Now Tops the Tech Bubble
The return spread between the seven largest S&P500 stocks compared to the rest of the index is now higher than when the Dot Com Bubble Burst. Source: Barchart, Bloomberg
Nvidia Insider Trading Alert
Tench Coxe, the 3rd largest $NVDA shareholder, just sold another 50,000 shares worth approximately $21.1 million. He acquired these shares in 1997! He previously sold 100,000 shares on May 30. Source: Barchart
SNB won’t let slowing inflation stop a rate hike
Source: Bloomberg
Global Yield Curves' (2s10s) inversion deepens, flashing recession signals
Source: Bloomberg TV Chart
Bitcoin jumps >$30k on speculation BlackRock ‘may know something.’
Last week, BlackRock submitted an application for a spot Bitcoin ETF, which would track Bitcoin’s underlying market price. Source: HolgerZ, Bloomberg
US real average hourly earnings turn positive again
US wages outpaced inflation on a YoY basis in May by 0.2%, ending the ignominious streak of 25 consecutive months of negative real wage growth. Source: Charlie Bilello
