House prices adjusted for inflation since 1975.
The charts for Canada, Australia, New Zealand, and the UK look like a s**tcoin during a pump. The Japanese real estate bubble of the 1990s is barely visible as a comparison... Source: Bloomberg, MacroAlf
Yesterday was one of the most distorted markets we've seen yet. Just 2% of the index contributed over 60% of the bullish momentum.
That means ONLY TEN companies were the cause of well over half of the move in $SPX yesterday. $NVDA single handedly contributed an additional 50bps to the return in $SPX. Source: Hedgeye
Nvidia has now surpassed Germany's DAX in market capitalization.
Valued at just under $2 trillion, the chip company, established in 1993, now exceeds the total value of the DAX, which includes 40 companies, some over 130 years old. Source : HolgerZ
Goldman Sachs' analysts no longer expect a U.S. interest rate cut in May and see four 25 basis point cuts this year.
"Because there are only two rounds of inflation data and a little over two months until the May (Fed) meeting, the comments suggest to us that a rate cut as early as May, which we had previously expected, is unlikely," Goldman Sachs analysts said in a note. They now forecast an extra cut next year instead, with an unchanged terminal rate forecast of 3.25-3.5%." source : goldmansachs, reuters
Nvidia has added nearly $250 billion in market cap so far today.
This puts the stock on track to post the biggest single-day market cap gain in stock market history. The previous record? -) Meta, 20 days ago ... source : The Kobeissi Letter, bloomberg
China to send more pandas to US
China's Wildlife Conservation Association is working with the National Zoo in Washington in an arrangement that could bring more pandas back to the United States, signalling improving diplomatic relations between the two superpowers. China has lent its beloved bears to zoos in various countries over the years as goodwill animal ambassadors and also fostered a modern Sino-U.S. "panda diplomacy" with the gesture.Back in November, the National Zoo in Washington returned three pandas to China as part of a more than 50-year-old legacy, leaving Georgia's Zoo Atlanta as the only one in the U.S. with a giant panda program. Source : reuters
Nice visual by Graphite Asset Advisory and John Haslett, CA(SA), FRM
𝗛𝗮𝗹𝗳 𝘁𝗵𝗲 𝗦𝘁𝗼𝗿𝘆: 𝗪𝗵𝘆 𝗔𝗽𝗽𝗹𝗲' 𝗶𝘀 𝗻𝗼𝘁 𝗮 𝟱𝟬% 𝗦𝗹𝗶𝗰𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗕𝗲𝗿𝗸𝘀𝗵𝗶𝗿𝗲 𝗛𝗮𝘁𝗵𝗮𝘄𝗮𝘆 𝗣𝗶𝗲 Apple isn't half of Berkshire Hathaway. Why? Because the pie is much bigger ! 𝗪𝗶𝘁𝗵 𝟲𝟱 𝗱𝗶𝘀𝘁𝗶𝗻𝗰𝘁 𝘂𝗻𝗹𝗶𝘀𝘁𝗲𝗱 𝗴𝗲𝗺𝘀 (swipe right for full list) in its treasure chest along with interest bearing cash and fixed income, Berkshire Hathaway's empire stretches far beyond the realms of just the listed stock market.
US financial conditions are very easy compared to Fed Funds...
Too easy? Bear in mind what the FOMC said in the Minutes on Wednesday: "Several participants mentioned the risk that financial conditions were or could become less restrictive than appropriate, which could add undue momentum to aggregate demand and cause progress on inflation to stall." Could this lead the fed to keep rates higher for longer? How long will the market be able to shrug off high rates and higher bond yields? Source: www.zerohedge
