Outperformance of sp500 vs US 30-year Treasury bond is massive. What would it take to reverse the trend?
Source: Mac10
Italians make in real terms less today than they used to in 1990, one really needs to admire how calm they stay about it.
Chart: Michel A.Arouet, @heimbergecon
BREAKING: US consumers' average 5-10 year inflation expectations have spiked to 5.6%, the highest in 31 years.
This measure increased by ~2 percentage points in just a few months. By comparison, median inflation expectations are around 3%, in-line with the readings seen over the last 3 years. Meanwhile, CPI inflation has been above 3% for 38 consecutive months, the longest streak since the 1990s. Will inflation stay a major issue in H2 2024? Source: The Kobeissi letter, Bloomberg
Tesla is making the comeback of the year...
Tesla, $TSLA, is now the 12th largest public company in the world. Since the April 2024 low, Tesla stock is now up over 80% and has added $350 BILLION in market cap. The stock is also now just 1.5% away from being UP year-to-date after falling nearly 40% in the first 4 months. If $TSLA hits ~$257 per share, it will be one of the top 10 largest public companies in the world. Just 2 months ago, Tesla briefly fell off the top 20 list as worries over the EV market arose. Source: Kobeissi Letter
Latin phrases you should know...
Source: Massimo @RainMaker73
Kamala Harris and Joe Biden's odds of securing the Democratic presidential nomination have converged...
Source: Bloomberg, Michael McDonough
Odds of Biden winning democratic 2024 presidential nominee are collapsing as NYT said Biden told ally he is weighing whether to continue in race
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As of this morning, betting markets are giving VP Harris higher odds of being President after the 2024 Election than current President Biden.
The cross has happened. Source: Bespoke
