Germany’s Dax index ended the year 2024 with a 18.85% gain after 20.3% rally in 2023
meaning the German benchmark index concluded its biggest 2-year run in more than a decade, even though Germany's GDP shrank in 2023 and probably also in 2024. 👉 SAP, Siemens Energy and Rheinmetall are among top performers. 👉 Chinese competition and lagging demand weigh on automakers. Source: Bloomberg, HolgerZ
The US Treasury's annual interest expense surpassed $1.117 trillion this year — making it the second-largest government expense.
At the current issuance schedule & interest rates, it will surpass Social Security at $1.46 trillion in 2025 to become the largest government expense. Source: Bloomberg, Joe Consorti
Next year, $3.08 trillion in US Treasury notes and bonds—about 12% of the total—will mature.
At current rates of ~4.46%, rolling this debt would raise the interest expense 54% over the current average coupon of 2.88%. That is an extra $48.7 billion in annual interest expense. Source: Bloomberg, Joe Consorti
In the US, buying a home in 2024 costs 42% more than renting one
Source: John Burns Research
JUST IN: Bloomberg says BlackRock’s spot Bitcoin ETF is the ‘Greatest Launch in ETF History’ 🚀
Source: Bloomberg, Bitcoin Magazine
BREAKING: US credit card defaults jumped to $46 billion in the first 9 months of 2024, the highest since 2010.
Credit card defaults are now up over 50% year-over-year. Defaults of seriously delinquent credit card loan balances have more than doubled over the last 2 years. Bottom-income consumers were hit the hardest due to years of elevated inflation and interest rates. Additionally, the savings rate of the bottom third is now 0%, according to Moody’s. Source: FT, The Kobeissi Letter
Top 20 ski resorts as ranked by Property residential price per m2 (sqm)
Source: Savills Research thru Bogdan KOWAL on linkedin
Flying with a 737-800 is becoming stressful... what a month... (or maybe just a coincidence)
Source: Lee Seng Foo🇲🇾李成富 @sengfoo88 on X
