Estimated People's Bank of China (PBOC) gold holdings
Source: World Gold Council, Gainesville Coins
Bearish Bets against the Japanese Yen reach highest level in 17 years
Source: Barchart, Bloomberg
A great chart by Quartr about swiss luxury giant Richemont
In 1987, Bernard Arnault created $LVMH. In 1988, Johann Rupert created richemont $CFR.SW – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest luxury company (with $RMS being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its top line at 5% per year. Looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. Quartr just created this infographic, mapping out every acquisition since Richemont's inception.
Chinese gold ETFs have cornered the bulk of the inflows in Asia this year.
Source: David Ingles
And the Winner is…
Via @PendulumFlow thru Michel A.Arouet
The Power of Vision or Why Exceptional Founders Embrace the Future, Define Their Destiny, and Forge the Path to Remarkable Success...
Source: R yan Junee
Looks like saudi arabia's balance of payments breakeven oil price (oil price that avoids a current account deficit) is now close to $85 a barrel...
This could explain why there is some scale back from NEOM + the need for oil prices to stay higher for longer... Source: Brad Setser
Global PMIs recovering nicely.
Source: Markets & Mayhem reposted Ayesha Tariq
