The market has gone ahead of historical average return
Source: Goldman Sachs
The power of scarcity. Comparing the profitability of Ferrari $RACE and Volvo $VOLCA
Source: Quartr
China’s housing market slump is deepening, which is putting pressure on industrial metals.
Here are new home prices (month-over-month). Could it be a positive for GOLD demand? Source: Ronnie Stoeferle, The Daily Shot
Wow. The average S&P500 stock has been on average 4.5x as volatile as the broader index!
Chart: Goldman Sachs Source: Markets & Mayhem
Bitcoin is back to the lower end of this range
$BTC plunges >5% as funds see most outflows over 2 weeks since ETF approval. Bitcoin investment products saw ~$600mln in outflows for a 2nd consecutive week. Source: J-C Parets, HolgerZ
BREAKING: The CBO has raised the US government's deficit forecast for Fiscal Year 2024 from $1.5 trillion to $1.9 trillion, or 6.7% of GDP.
This would be the highest deficit since 2021 when the deficit hit $2.8 trillion in response to pandemic lockdowns. By 2034, the deficit is expected to reach $2.9 trillion or 6.9% of GDP, totaling a whopping $22.1 trillion over the 2025-2034 period. The CBO projection also assumes that net interest will reflect over 50% of the budget deficit over the next decade. These numbers all assume no recessions and lower interest rates. What happens if rate cuts are delayed and a recession hits? Source: The Kobeissi Letter, CBO
$NVDA is now down 13% since Jim Cramer said "Nvidia, so far, so good"
Source: The Kobeissi Letter
The Great Bitcoin Crash of June 2024.
Source: John Osterman
