Syz the moment

The Pimco 25+ Year Zero Coupon US Treasury ETF is off more than 60% from its high

Source: Barchart, FDIC, Alpine Macro

Source: Bespoke

House Republican leaders canceled a planned two-week recess as a government shutdown appeared more likely after they failed to pass a short-term spending bill with fewer than two days to avoid the shutdown. House Speaker Kevin McCarthy informed the GOP caucus of the canceled break at a closed-door meeting after more than 20 Republicans embarrassed him by voting with Democrats to defeat the bill. The government is scheduled to shut down at 12:01 a.m. ET Sunday if a funding bill is not approved by Congress and President Joe Biden. Source: Statista, CNBC

China Tech ETF $CQQQ: +62% Nasdaq 100 ETF $QQQ: +832% Source: Charlie Bilello

The game of chicken is on...The US government is now just 48 hours away from a SHUTDOWN. This comes less than 3 months after the largest debt ceiling crisis since 2011. Meanwhile, the government is borrowing over $14 billion PER DAY and spending $3 billion per day on interest expense alone. According to Goldman, a government-wide shutdown would reduce quarterly annualized growth by around 0.2% for each week it lasted after accounting for modest private sector effects. Goldman's baseline is that a shutdown could last for 2-3 weeks (the Trump government shutdown, the longest in history, lasted 35 days, from Dec 22, 2018 to Jan 25, 2019). - Meanwhile, Bloomberg also speculates that in an extreme tail event, the maximum hit to 4Q GDP would be a drag of 2.8% if the shutdown lasts for the entire quarter. Source cartoon: San Diego Tribune

It is the chart of India BSE small & medium IPO index Source: Amit Jeswani

>>> Energy as the standout cheap one< trades at a material discount to the S&P 500 due to lower growth characteristics and concerns about the duration of the cycle. Source: Goldman Sachs, TME