Mind the gap: Assets in US money market funds have hit a fresh ATH at $6.5tn, although the relevant Fed Funds Rates have fallen and are likely to fall further.
Note however that the "relative" figures (i.e money market funds AuMs as a % of total assets AuMs) currently stand at all-time low whereas equities weight is at all-time high... Source. Bloomberg, HolgerZ
There it is: Trump now leads in every battleground state, according to Polymarket
(chart via BBG ECAN) Source: www.zerohedge.com
BREAKING 🚨: Chinese Stocks enter technical correction after falling more than 10% from the October 8th high
Source: Barchart
Bond market volatility is spiking:
The ICE BofA MOVE Index hit 123.8 points last week, the highest level since January. The MOVE index, also called the “VIX of bonds” is a metric measuring yield volatility of 2-year, 5-year, 10-year, and 30-year Treasuries. The index has skyrocketed 38% in just 3 weeks as yields started rising following the Fed's decision to cut rates by 50 bps. Over this period, the 10-year Treasury yield jumped from 3.64% to 4.10%. At the same time, the popular bond-tracking ETF, $TLT, fell by 6.8%. What happened to the "Fed pivot?" Source: The Kobeissi Letter, The Daily Shot
🔥LONG MAGNIFICENT 7 IS THE MOST CROWDED TRADE ACCORDING TO GLOBAL INVESTORS🔥
43% of global investors* believe Long Magnificent 7 is the most crowded trade, down from ~54% in August. Has the trade become overcrowded? *BofA survey of 195 participants with $503 billion assets. Source: Global Markets Investor
After Alphabet $GOOG, it is now the turn of Amazon $AMZN to go nuclear...
It's investing $500 million across 3 new projects: • Building 4 SMRs (small modular reactors) with Energy Northwest • Exploring SMR development with Dominion Energy • Leading SMR developer X-Energy's funding round Source: Stocktwits
India stocks foreign selling
Foreign Investors have dumped Indian Stocks EVERY SINGLE day this month for a total value of $6.7 billion. This month's selling is on track to surpass even March 2020. Source: Barchart, Bloomberg
Quote of the day by Morgan Housel:
Source: Compounding Quality
