European stocks trade at over 40% discount versus the US stock market, the biggest in at least 35 YEARS!
This comes as Europe's forward P/E ratio is ~13x, way below the S&P 500 P/E of 22x. Europe has rarely been so cheap on a relative basis. This is also valid on a sector-adjusted basis. Source: Goldman Sachs, Global Markets Investor, Datastream
🚀 JPMorgan analysts said the "debasement trade" is far from a passing trend, with both gold and bitcoin gaining structural importance in investor portfolios.
🚨 "The gold price appreciation over the past year has gone well beyond the moves implied by dollar and real bond yield shifts, and likely reflects the re-emergence of this 'debasement trade,'" JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Friday. Meanwhile, a record capital inflow into crypto markets in 2024 suggests that bitcoin is also becoming "a more important component" of investors' portfolios, they added. 👉 The debasement trade refers to a strategy where investors turn to assets like gold and bitcoin to hedge against the devaluation of fiat currencies, often driven by factors such as inflation, rising government debt and geopolitical instability. 🔴 Overall, with both gold and bitcoin gaining structural importance, the debasement trade is here to stay, according to the analysts. Last October, the analysts expressed bullishness on crypto heading into 2025, citing factors such as the debasement trade and growing institutional adoption, among others. Source: The Block Disclaimer: These are not investment recommendations. Cryptoasset investments can be complex and high risk.
Openai's valuation in context
Source: Chartr
Bitcoin vs. fiat
Source: ₿itcoinTeddy @Bitcoin_Teddy Disclaimer: These are not investment recommendations. Cryptoasset investments can be complex and high risk.
The correlation between US stocks and bonds over the last 3 years (0.73) is the highest on record.
Source: Charlie Bilello
It seems semiconductors etf $SMH is finally breaking out after weeks of consolidation
Source: TrendSpider
A shocking chart: The European Union imported last year more Russian LNG than ever.
Do as I say, not as I do Source: Javier Blas on X
US Federal finances illustrated in one chart
Source: JP Morgan
