The S&P 500 is up 18.4% in the first 168 trading days of 2024, the 15th best start to a year going back to 1928 and best start to a presidential election year ever.
Source: Charlie Bilello
BREAKING: Global net gold purchases by central banks reached 483 tonnes in the first half of 2024, the most on record.
This is 5% higher than the previous record of 460 tonnes set in the first half of 2023. In Q2 2024, central banks bought 183 tonnes of gold, marking a 6% year-over-year increase. On the other hand, this was 39% lower than the 300 tonnes of purchases seen in Q1. The largest buyers were the National Bank of Poland, the Reserve Bank of India, and the Central Bank of Turkey. Why are central banks stocking up on gold? Source: The Kobeissi Letter
BREAKING: The right-wing AfD and the anti-woke BSW emerge as clear winners in the German state elections of Saxony and Thuringia, while the globalist government parties suffer a crushing defeat.
Source: Dr. Simon Goddek on X
Today's society
Source: Moral Wisdom
Now that the Fed has given the "all clear" for cuts, the global easing cycle that is likely to gather force
Between 50 - 100 bps in cuts are priced for most central banks across advanced economies for this year alone. Source: Robin Brooks
Big gold buying lately
From BofA, @ISABELNET_SA thru Mike Zaccardi, CFA, CMT, MBA
The sp500 is up 18.1% in the first 163 trading days of 2024, the 18th best start to a year going back to 1928 and 2nd best start to a presidential election year ever. $SPX
Source: Charlie Bilello
Will the share buyback effect soon fade?
Since 2000, Share Buybacks have comprised ~100% of net equity purchases. Such has been a huge support for higher asset prices. That is all fine until you run out of cash to execute buybacks. Source: h/t @ISABELNET_SA, BofA, Lance Roberts
