Treasury longs extend
The latest JP Morgan client survey shows the most outright long positions since 2019. Source: Bloomberg
NYSE Airlines Index rallied to hit another new 52-week high yesterday
Source : J-C Parets
ECB Balance Sheet is almost unchanged ahead of this week's meeting.
Total assets now at €7,714.4bn, equal to 57% of Eurozone GDP vs Fed's 32%, SNB's 121%, BoJ's 130%. Source: HolgerZ, Bloomberg
Turkish Lira disastrous performance in one chart
Turkish Lira (blue) is down -55% in the last 10 years in real terms. That's worse than Sri Lanka (pink), which is down -27%, and worse than Pakistan (orange), which is down -8%. Chart also shows Brazil undervaluation. These are all commodity importers. Brazil doesn't belong here. Source: Robin Brooks
AI is the new buzz
“Artificial Intelligence” as a percentage of Total Bloomberg news is skyrocketing and nears “Internet” news during the 2000 bubble. Source: Michael A.Gayed
US CPI continues to cool down
Overall US CPI moved down to 4.0% in May, the 11th consecutive decline in the YoY rate of inflation and the lowest level since March 2021. US Core CPI (ex-Food/Energy) moved down to 5.3% YoY, the lowest reading since November 2021. Source: Charlie Bilello
JAPAN'S NIKKEI CLOSES ABOVE 33,000 FOR THE FIRST TIME SINCE 1990
Source: www.investing,.com
A new all-time-high for Apple
« Apple closes at record high in latest sign of Big Tech’s dominance. The stock rose 1.6% to $183.79 yesterday, bringing its year-to-date gain to 41%. This is Apple’s first closing high since January 2022. Stock nears a $3tn valuation following 2023’s surge” – source: Bloomberg, HolgerZ
