$1.1 trillion into US stocks so far in the roaring 20s.
Source: BofA via @ackmeni via Mike Zaccardi, CFA, CMT, MBA
Office CMBS Delinquency Rate Spikes to 10.4%, Just Below Worst of Financial Crisis Meltdown. Fastest 2-Year Spike Ever.
Office-to-residential conversions are growing, but are minuscule because not many towers are suitable for conversion. Source: www,wolfstreet.com, Wolf Richter
Ripple $XRP forms a God Candle as it becomes the world's 3rd largest cryptocurrency, valued at almost $140 Billion
Source: Barchart
New all-time highs are NOT a characteristic of downtrends
Source: J-C Parets
🚨 Saudi Arabia's U.S. Treasury Holdings are now the largest in more than 4.5 years
Source: Barchart, Bloomberg
Which assets are most correlated to the USD?
The U.S. dollar (USD) has weak correlations with major U.S. equities like the S&P 500 and Apple 💵 Source: @OANDA and Visual Capitalist https://lnkd.in/eFccw27e
The chart of the day:
France’s benchmark bond yield matched Greece’s for the first time on record, the latest milestone in a week marked by mounting anxiety over the fate of Prime Minister Michel Barnier’s government. The rate on 10-year French notes, traditionally considered among the safest in the euro area, briefly rose to 3.03% before paring the move. That was the same as comparable Greek bonds, a country once at the heart of the European sovereign debt crisis. Investors are concerned that France may struggle to pass a budget for next year, with the far-right National Rally party threatening a no-confidence vote to bring the government down if its demands aren’t met. While French bonds rallied after Finance Minister Antoine Armand said he is prepared to make concessions on the 2025 budget, that did little to dent months of underperformance. “France is not Greece,” said finance minister Antoine Armand. "France has . . . far superior economic and demographic power which means it is not Greece.” Humility at its best... Source: FT, LSEG
Crypto Stablecoin market value reaches $190 Billion, an all-time high 🚨
"Cash on the Sidelines" Source: Bloomberg
