US earnings for the week
Source: Earnings Whispers
Close to $11T US Treasury bonds maturing in the next 24 months need to be refinanced
Current Funding Rate of these bonds hovers between1.6% to 1.9% The new one ranges between 3.4% and 4.6%. The debt service as a % of the US budget will explode from 8% to nearly 17%... Source: Lawrence McDonald, Manhattan Institute
The lessons from 2001-2004
We’re now in 2001 with respect to currently unprofitable companies. The market prices of all companies that were unprofitable in 2001 didn't make any progress in the 3 years that followed. Those that turned profitable by 2004 were a ~3x on average. Source: Value investigator
The S&P 500 closed above its 200d MA for the 5th time since the start of the 2022 bear market
Source: Yuriy Matso
Only 10% of US equity funds survived and outperformed the S&P 500 since 1992
Source: Lipper, S&P Dow Jones
Auto stocks including Tesla fall after Tesla radically cut prices on its electric vehicles in bid to boost flagging demand.
Tesla dropped prices by nearly 20% in the US on some versions of the Model Y SUV, its top seller. It also reduced base price of Model 3 by about 6%. Source: Bloomberg, HolgerZ
US will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress
Source: Bloomberg, HolgerZ
Commodities are up double digits in the last 3 months
Over the last 3 months, Gold broke out, then silver, copper, and others are already up double digits in the last 3 months. Will Energy & agricultural commodities be the next ones to move? Steep moves in commodity prices often lead to a ripple effect in the market. Source: Crescat Capital, Bloomberg
