US employment numbers are out... and what a miss... 😱
🚨 It is indeed a confusing US jobs report with ugly headline numbers. US economy added just 12k jobs, according to Establishment Survey, far below consensus forecast of +100k and down from +223k in September. 🚨 Private payrolls were negative 28k, below the Street’s +70k forecast and down from +192k in September. 🌪 August was revised down by 81,000, from +159,000 to +78,000, 🌪 September was revised down by 31,000, from +254,000 to +223,000 👉 Odds of a 25 bps Fed cut next week increase per SOFR. Source: HolgerZ, Bloomberg
Despite talks of de-dollarisation, America dominance has never been that strong:
• US stock exchanges capture more than half of global free-float market capitalisation • US share of global stock market is 2.3 times its share of global GDP — the highest-ever ratio Source: Agathe Demarais @AgatheDemarais
Tether's latest Q3 attestation reports $4.78 billion worth of Bitcoin when BTC was $63,473
At today's prices, that same amount of Bitcoin is worth $5.3 billion. In total, the value of their assets is over $6 billion more than the value of their liabilities. Source: Bitcoin News BitcoinNewsCom
🚨THIS IS ONE OF THE MOST OVERVALUED MARKETS IN HISTORY🚨
S&P 500 is expensive on 19 out of 20 metrics, according to the Bank of America analysis. Some metrics such as Shiller Price to Earnings ratio (CAPE) are over 100% above historical averages Source: Global Markets Investor
MicroStrategy just unveiled its bold new "21/21 Plan" to raise $42 billion in capital over the next 3 years.
The strategy includes $21 billion from equity and $21 billion from fixed income. With this capital injection, MicroStrategy aims to boost its Bitcoin holdings and enhance BTC yield, solidifying its commitment to Bitcoin as a core treasury reserve asset.
The share of US consumers expecting higher stock prices over the next 12 months hit 51.4%, the highest on record.
This is even higher than the previous records seen in 2018 and 2000 before the Dot-Com bubble peaked. The percentage has more than DOUBLED over the last 2 years as the stock market has seen one of the largest gains this century. The S&P 500 is now up 40% over the last 12 months marking its 4th best performance since 2000. Stock market sentiment has never been so euphoric. Source: The Kobeissi letter
"Buy Waste Management first thing in the morning"
Source: Not Jerome Powell on X
The BOJ kept interest rates steady on Thursday
The BOJ roughly maintained its forecast that inflation will hover near its 2% inflation target in coming years, signaling its readiness to continue rolling back its massive monetary stimulus. The Yen climbed as much as 0.9% on Ueda comments.
