$SPX/GDP, the 'Buffet' indicator, is back near the 2021 highs
Source: Swordfishvegetable
Everyone is aware of German deindustrialization by now, unfortunately industrial production in other major European countries is not looking much better.
Source: Michel A.Arouet, skhanniche
Bond markets are getting crushed this week: The bond tracking ETF, $TLT, is down 4% since Friday and on track for its worst week this year.
Why is this happening? - First, CPI inflation data showed that inflation JUMPED to 3.2% and is now up from 2 straight months. - Then, PPI inflation data nearly DOUBLED, rising to 1.6%, further igniting fears of a rebound in inflation. - Interestrate cuts are quickly being removed from market expectations. Source: The Kobeissi Letter
Why has the sp500 been moving higher despite rate cuts expectations being revised downward?
It is as simple as EPS 12 month estimates have soared. Up another 2% the past 12 months. Source: Ryan Detrick
JUST IN: Wealth advisor platform Cetera just approved Bitcoin ETFs to be offered to clients.
It has $475 billion in assets under administration and $190 billion in assets under management. Source: Bitcoin Archive, X
Bitcoin ownership distribution
- Eric Balchunas
The Chinese government has gone "Full BoJ style", purchasing $45b of ETFs in the past 2 months to pump up market.
They already own like 1/5 of all equity ETFs. They moved to buying small caps because it moves stocks more. Purchases could reach $100b this year. Source: Bloomberg, Eric Balchunas
A great thread by The Kobeissi Letter ->
While everyone is focused on AI, China has taken electric vehicles (EVs) to a whole new level. China currently has 2.5 MILLION EV chargers compared to just 130,000 in the US. China has an EV charger for every 7 cars while the US has an EV charger for every 18 cars. Meanwhile, China's EV chargers provide 4 kilowatt per hour compared to 1 kilowatt per hours in the US. To put this into perspective, the energy difference is like powering 17 standard light bulbs in the US versus 67 bulbs in China. Is China the new leader of EV technology?
