'It is a misconception that commodities fall in a recession - on average they rally through one.'
Source: Bloomberg
FUN FACTS >>> Usain Bolt The "Chicken McNuggets" diet In 2008, Usain Bolt won gold in 100m (9.69 secs) and 200m (19.30 secs) at the Beijing Olympics while only eating McDonald’s.
He didn’t want to take risks on food, so Bolt had 100 Chicken McNuggets a day during his 10-day stay in the country (1000 nuggets total). "I should have gotten a gold medal for all that chowing down," Bolt wrote in his biography Faster than Lightning. Source: Trung Phan on X
CHINA 10-YEAR YIELD FALLS TO A FRESH RECORD LOW
So, what is the Chinese bond market signaling about the Chinese economy? Source: Bianco research
Russell 2000 Outperformance vs S&P 500 continues.
RTY vs SPX break out is at its widest levels since Feb 2000, > +9% MTD Source: Bloomberg, HolgerZ
JUST IN 🚨: There is now a 100% chance of a 25 bps interest rate cut by September, according to CME FedWatch
Source: Barchart
Corporate Insiders are dumping shares at the fastest pace in AT LEAST a decade 🚨🚨🚨
Source: Barchart
Is there more drawdown ahead for the S&P500?
Over the last ~100 years, median year has a SPX peak to trough drawdown of 13%. Believe it or not current drawdown has only been 5%... Source: GS
India quickly catches up to China as the world’s largest emerging market.
Indian stocks comprise nearly 20% of the MSCI Emerging Markets index, while China has dropped to a quarter from 40% in 2020. The narrowing gap has become one of the biggest issues for investors in emerging markets this year as they debate whether to put capital into an already red-hot Indian market, or into Chinese stocks that are relatively cheap, but are being hit by an econ slowdown. https://lnkd.in/ddkSqFy5 Source: FT, Charlie Bilello
