The S&P 500 has not had a weekly drop of 2% or more since the week of October 23rd, 2023.
There have only been a total of TWO weekly drops in the entire 2024 so far. Since October 2023, the S&P 500 has added almost $11 TRILLION in market cap. That's more than 4 TIMES the value of the Canadian stock market added in 5 months. $11 trillion in market cap is also the same value of China's entire stock market. Source: The Kobeissi Letter
SUMMARY OF US MARCH ADP JOBS REPORT:
1. The U.S. economy added a higher-than-expected 184,000 jobs in March, as per ADP, easily beating forecasts for +148,000. 2. The number of monthly job gains was the highest in eight months (July 2023) 3. February number was also revised upwards. 4. Wage growth accelerated for those who changed jobs, rising +10% from a year earlier. Key Takeaway: The pickup in jobs growth supports the case that the labor market remains strong, and the economy continues to hold up better than expected. The ADP report does not point to imminent Fed rate cuts as markets continue to push back the timing of the first move. Source: Jesse Cohen, Trading Economics
The Bitcoin halving is now only about 16 days away 👀
https://bitbo.io/halving/ Source: Bitcoin Magazine
The era of fiscal dominance
source: MacroAlf. Inflation-adjusted US fiscal deficits popping up at: - World War I - World War II - Great Financial Crisis - Covid - 2023 Find the outlier...
All these US representatives are outperforming Warren Buffet...
Source: Snowden on X
Eurozone inflation cools, setting stage for June rate cut:
Headline CPI slowed to 2.4% YoY in March from 2.6% in February below consensus forecast of 2.5%. Core CPI slowed to 2.9% from 3.1%, again below economists' expectations to reach lowest level in >2yrs. But there were signs that inflationary pressures have yet to ease in labor-intensive parts: Service Price inflation +4.0% YoY, unch from 4 preceding mths. (via DJ, Bloomberg thru HolgerZ).
Is there a chance for the us to start slowing down the pace of debt increase?
Well... think about this: "I'm the king of debt. I'm great with debt. Nobody knows debt better than me." - Donald Trump Source: Ronald-Peter Stoeferle, CMT, CFTe, MSTA
The Imminent Inclusion of Indian Sovereign Bonds in EM Bond Indices is Attracting Huge Foreign Inflows👇
Source: Neha Sahni, JP Morgan
