Syz the moment

Institutional investors* cash allocation hit the lowest level ON RECORD. This comes as allocation to US equities hit a RECORD HIGH. What will happen when stocks begin to drop? *171 Fund Managers with $450 billion in assets Source: BofA, Global Markets Investor

President-elect Donald Trump expressed support for abolishing the debt ceiling, calling it a "meaningless concept" that Congress should eliminate entirely. Speaking to NBC News, Trump suggested that removing the debt ceiling would be the "smartest thing" lawmakers could do and offered to lead the charge if Democrats pursue it. He also criticized a recent funding deal reached by Congress, labeling it a "Democrat trap" and questioning House Speaker Mike Johnson’s leadership. Trump suggested a potential government shutdown could help set the stage for his administration, and revealed he had discussed the funding deal with Elon Musk, aligning their views on cost-related issues. Source GNF - Global News First

Two scenarios: dislocate from global M2 thanks to BTC-native buy side, or continue following it into a deep mid-cycle correction. Source: Joe Consorti, Bloomberg

The Ifo Business Index fell to 84.7 in December, down from 85.6 in November –its lowest level since May 2020. This is far below the long-term average of 96.6 and looks weak even compared to recent years. Since the start of the war in Ukraine, the index has averaged just 88.2. The latest drop was driven by a sharp decline in the expectations component, which fell from 87 in November to 84.4 in Dec. Analysts polled by Bloomberg had predicted a slight uptick and none saw a retreat of that scale. Source: Bloomberg, HolgerZ

Fund Manager cash allocations at a record low... Source: Callum Thomas, BofA

$NVDA -7.30% $TSLA +87.78% Source: Trend

Bitcoin Reserve for Trump to sign on Day 1 🚀

Source: Nomura thru zerohedge