The NYSE A-D Line keeps making new highs. The US equity bull market is not just 7 stocks.
It's not just Tech. And it's not just large-caps. Yes some correction and rotation can take place from time to time. But it remains a bull market until proven otherwise. It's just a bull market... And it has been for over 2 years now. Source: J-C Parets
Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments.
Global chip stocks fell sharply, with ASML , Nvidia and TSMC posting declines amid reports of tighter export restrictions from the U.S. and a ramp-up of geopolitical tensions fueled by comments from former U.S. President Donald Trump. ASML’s Netherlands-listed shares were down 11%, while Tokyo Electron shares in Japan closed nearly 7.5% lower. The moves came after Bloomberg on Wednesday reported that the Biden administration is considering a wide-sweeping rule to clamp down on companies exporting their critical chipmaking equipment to China. Washington’s foreign direct product rule, or FDPR, allows the U.S. to put controls on foreign-made products even if they use the smallest amount of American technology. This can affect non-U.S. companies. Source: CNBC
Historically, bonds acted as efficient portfolio hedges only when inflation is <2%.
Below is the rolling 24-month correlation between US stocks and Treasury bonds. Source: Mike Zaccardi
July has been up 9 years in a row and the first half of July is one of the strongest periods of the year.
This strength shouldn't be too surprising. But be aware historically July peaks on the 17th, so tomorrow. Source: Ryan Detrick
Unproductive debt...
Every new dollar of US debt generates just $0.58 of GDP Source: Mike Zaccardi, BofA
NEW:US Spot Bitcoin ETFs hit $16 billion inflows 🚀
Source: Bitcoin Magazine
The amount raised by the former president is a record second-quarter haul that almost matches the sums raised during his entire 2016 campaign, according to an analysis of federal filings
Fundraising groups aligned with Donald Trump raised more than $400mn for his presidential election campaign between April and June — a record second-quarter haul that almost matches the sums raised during his entire 2016 campaign, according to a Financial Times analysis of federal filings. The figure, which is likely to grow as more of the political action committees that help fund campaigns report this weekend, is three times the first-quarter total and roughly double their contributions from the same period of the 2020 election. The massive windfall, which puts the Republican on track to outpace his Democratic rival President Joe Biden, came from small donors furious at Trump’s criminal conviction in New York and billionaires flocking to his campaign. Source: FT Link >>> https://lnkd.in/eijfGTMR
As highlighted by Corporate Rebels >>> In most traditional organizations, managers see only the tip of the iceberg – just a fraction of the issues.
According to Sidney Yoshida, only 4% of problems are known to executives. Being able to "fill thef gap" is key. And this is where smaller and more nimble structure can make a difference.
