Prices paid to US producers rose by more than forecast in September
The PPI for final demand advanced 0.5% from a month earlier, according to the Bureau of Labor Statistics. The cost of gasoline increased 5.4% The biggest driver of today's PPI beat: a near record surge in PPI Deposit Services. In other words high rates (and inflation) lead to higher rates (and inflation) Source: www.zerohedge.com
Chartr on bitcoin volatility
For the most prominent cryptocurrency, the chaos of the 2020-2022 era seems long gone. Bitcoin, which was often criticized for being too volatile, hasn’t seen a daily gain or loss of more than 10% this year. That's in stark contrast to 2022 and 2021 when it swung outside this range 9 and 11 times, respectively. All told, the price of Bitcoin has risen more than 60% this year, despite the continued crackdown on major exchanges such as Binance and Coinbase. But, even though Bitcoin is looking a little bit more stable, enthusiasm for the sector more broadly looks to have vanished, with venture capital funding for crypto companies and projects falling to a 3-year low.
Birkenstock opening is even uglier than the shoes...
Birkenstock stock opens 11% below $46 IPO price in trading debut flop. The German sandal maker’s debut is the worst opening for a listing of $1bn or more in New York in over 2yrs, Bloomberg reports. Out of more than 300 US IPOs of that size in the past century, only 9 have fared worse, the last being AppLovin, which opened 12.5% below its IPO price in April 2021, BBG data show. Source: HolgerZ, Bloomberg
How Companies Raise Capital
Watch these four balance sheet categories: by Brian Feroldi
Emerging market stocks have fallen to their lowest valuation relative to the S&P 500 in AT LEAST 36 years
Source: Barchart, Bloomberg
German inflation in September fell to its lowest rate since outbreak of war in Ukraine, confirming prior estimates
CPI slowed to 4.5% in September YoY from 6.1% in August. Headline CPI is now lower than Core CPI BUT food prices are already on the rise again. Compared to previous month, food has become 0.4% more expensive. Source: Bloomberg, HolgerZ
Visualizing China’s Dominance in Battery Manufacturing (2022-2027P)
by Elements / Visual Capitalist
Almost half of US listed firms have negative profit margins
They have been able to survive in artificially low interest rates and ample liquidity environment. Things have changed though. Source: GS, Michel A.Arouet
