Syz the moment

Tough market! Source. Barchart

Zohran Mamdani — a democratic socialist who built his campaign around the rising cost of living — has been elected Mayor of New York City. Across the U.S., Democrats swept major elections in a stunning rebuke to Donald Trump and his Republican Party. From New Jersey to Virginia, the message from voters was clear: economic frustration is real, and leadership that listens matters. This election wasn’t just about politics. It was about people feeling squeezed, families struggling, and voters demanding change. With one year until the next midterms, Democrats suddenly have momentum — and Trump has a warning sign flashing bright red. In the words of political analyst Charlie Cook: “There are just a lot of voters of all different shapes, sizes and colours, who are ticked off by Trump.” 1 million New Yorkers just voted for a radical shift — in the city that symbolizes global capitalism itself. Source: FT

Source: Joe Weisenthal @TheStalwart

The ISM Manufacturing Index fell to 48.7 in October, marking the 8th STRAIGHT month of contraction. The US manufacturing sector has been in recession for 34 of the last 36 months. Backlogs of orders have been contracting for 3 years STRAIGHT. Source: Global Markets Investor @GlobalMktObserv

💥 Is there a banking crisis? Nope. 💵 A dollar funding crisis? Not really — at least, not yet. 🏦 Is the Fed secretly doing QE again? Also no. So… what’s actually going on? Here’s the real story 👇 After the U.S. government raised the debt ceiling in June, it started rebuilding its Treasury General Account (TGA) — basically Uncle Sam’s checking account at the Federal Reserve. The target? $850 billion. When money flows into that account, it’s pulled out of the financial system. Think of it as a liquidity drain — cash that could’ve been circulating in markets is now just… sitting there. 💧 Roughly $700 billion has been drained so far. And when that happens, bank reserves fall — which is exactly what we’re seeing today. Reserves are now sitting near multi-year lows (as a % of GDP). Less liquidity = more pressure in dollar funding markets. We can actually see that stress: ➡️ SOFR (the Secured Overnight Financing Rate — basically what banks pay to borrow short-term dollars) has ticked higher. Is it panic time? Not really. The current move is small compared to the September 2019 Repo Crisis, when the entire funding market froze and the Fed had to pivot hard from QT to QE overnight. So no, there’s no crisis — but there is a tightening squeeze in the plumbing of the financial system. Source: Tomas @TomasOnMarkets

Source: Ryan Detrick

Will Nvidia stock price action follow the step of the number 1 cryptocurrency ? Source: The Market Ear

Source: J-C Parets