There's the rest of the market .. and then there's $NVDA
Source: Markets & Mayhem
BREAKING: Elon Musk will interview Donald Trump at 8pm ET tonight on X.
Ahead of the interview, the European Commission issued a letter to Elon Musk demanding that he CENSOR Donald Trump in their upcoming interview. They are even threatening him with "legal obligations" if he fails to stop the "disinformation"... They talk about "ensuring freedom of expression" and of "information being protected"... Source: www.zerohedge.com
Copper Inventories have jumped to the highest level in more than 4 years signaling weak demand in Asia!
Source: Bloomberg, Barchart
March 22, 2000
Difficult to compare the internet bubble with the current ai mania. Source: Andrew Kuhn
Is the US regional bank crisis worsening?
Summit State Bank's Q2 Earnings Plummet. Q2 2024 Net Income: $928,000 Drops -67% from Q2 2023 Net Income $2,985,000. Earnings Decline: 69%. Stock Drop: -15%. $SSBI. Source: The Coastal Journal
The delinquency rate on commercial mortgage-backed securities (CMBS) for offices spiked to 8.1% in July, the highest in 11 years.
The delinquency rate of office CMBS loans has QUADRUPLED in 1.5 years. Delinquencies are currently rising at a faster pace than during the 2008 Financial Crisis. A top AAA-rated CMBS experienced a $40 million loss in May for the first time since the 2008 Financial Crisis. Source: The Kobeissi Letter
Bank of Japan owns ~80% of the country's ETFs and 7% of the entire Japanese stock market, according to Morningstar and the Tokyo Stock Exchange data.
Moreover, the BoJ holds ~55% of the Japanese government bonds. Huge distortions 👇 Source: Global Markets Investor
On average with the 4-year cycle... the next few months are sideways at best...
Source: Grant Hawkridge
