Quote by Warren Buffet
Source: Invest in Assets
Integrity
Source: Strati Georgopoulos
Best May for the S&P 500 in 15 years.
Looking at the 10 best monthly returns ever in May showed the future returns were quite impressive. When May return was above 4%, the rest of year up was double the average year (10.5% vs 4.9%) and June was up 1.0% on average vs negative. Source: Carson, Ryan Detrick
Atlanta Fed US Q2 GDP estimate plunges to 1.8% from 2.7% on May 31, and from 4.1% two weeks ago
Source: zerohedge
BREAKING: Mexico's stock market ETF, $EWW, crashes 11% after as the Mexican stock market posts its worst day since 2008.
The Mexican Peso also lost 4.5% against the US Dollar in its biggest one-day drop in years. This comes after Claudia Sheinbaum was elected as the next president of Mexico. Source: The Kobeissi Letter
BREAKING 🚨: Roaring Kitty
E*Trade is reportedly discussing whether to remove Roaring Kitty from its platform Source: Barchart
Japan owns $1.2 trillion of US Treasuries.
As Japanese yields rise, the domestic market will attract dollars away from US debt. "Rising long-term interest rates in Japan put upward pressure on long-term US Treasury yields:" Apollo's Torsten Slok Source: Bloomberg, Lisa Abramowitz
BREAKING: U.S. Banking System >>> FDIC warns that 63 Lenders are on the brink of insolvency due to banks sitting on $517 billion in unrealized losses
This is $39 billion higher than the $478 billion recorded in Q4 2023. The surge was driven by higher residential mortgage-backed securities losses held by banks due to rising mortgage rates. Q1 2024 also marked the 10th consecutive quarter of unrealized losses, an even longer streak than during the 2008 Financial Crisis. As “higher for longer” returns, unrealized losses are likely to continue rising. Source: BofA, The Kobeissi Letter
