After adjusting for inflation, US retail sales fell 0.7% over the last year, the 11th consecutive YoY decline
That's the longest down streak since 2009. Nominal retail sales increased 3.0% YoY vs. a historical average of 4.7%. Source: Charlie Bilello
Did President Biden pop the AI nvidia bubble?
A similar boom/bust head & shoulders already happened in the recent past... Source: Bloomberg, www.zerohedge.com
Stunning to see that markets are beginning to price-in chances of rate HIKES all the way until December 2024
There's now a ~49% chance of a rate hike by January 2024. There is even an 11% chance of a rate hike in July 2024... Meanwhile, the 10-year note yield is nearing 4.90% right now. Will 8% mortgages soon going to look like a good deal? Source: The Kobeissi Letter
How To Analyze An Income Statement - FAST. Watch for these 10 green flags
By Brian Feroldi
Nvidia stock, $NVDA, is now down 7.5% as President Biden restricts AI chip sales to China
The stock has erased nearly $100 billion in value in just over 24 hours. Is it the the beginning of a new trade war with China? Source: The Kobeissi Letter
There is a different culture of public debt in Germany than in France
Nevertheless, French Finance Minister Le Maire hopes to find a compromise for new budget rules w/Germany. “We will continue to work w/Christian Lindner in the coming weeks to try to reach a Franco-German accord that could serve as a basis for a wider deal,” Le Maire said ahead of a meeting with his EU peers in Luxembourg. Source: HolgerZ, Bloomberg
The Israeli Shekel has fallen to its lowest price against the U.S. Dollar since early 2015
Source: barchart
Bernard Arnault lost his spot as the world’s 2nd-richest person as a selloff in luxury stocks pushed his net worth below that of Amazon's Jeff Bezos
Arnault is now worth $155.1bn, just below Bezos’s $156.3bn, acc to Bloomberg. Within 3mths, Arnault has become $58bn poorer. Source: HolgerZ, Bloomberg
