The real price of the S&P500 has never exceeded the 1929 highs...
...If adjusted for M2 money supply growth 💸 Source. Nicolas Cheron
MicroStrategy now owns more Bitcoin than any country in the world.
Source: Bitcoin Magazine
ISM US manufacturing and services employment has simultaneously contracted for 3 consecutive months.
Over the last 20 years, this has happened ONLY twice, during the 2020 pandemic and 2008 Financial Crisis. More than 800 companies from manufacturing and services sectors claim that employment is falling. Meanwhile, according to US jobs data, the US job market has never been stronger. Are we going to see meaningful deterioration in jobs data in the coming months? Source: The Kobeissi Letter
GS: much of the remaining hot price inflation is also lagged catch-up inflation.
This applies to housing, health care, and car insurance and other regulated prices Mike Zaccardi, CFA, CMT
Stagflation fears are back.
Source: BofA Global Research; Mike Zaccardi
Don't fight the Mag 7?
The ratio of the Mag 7 vs the S&P 493 (S&P 500 ex Mag 7) has just hit another ATH. Source: Bloomberg, HolgerZ
$VVIX just made its lowest close in about 8 years
What is the Cboe VVIX Index? Volatility is often called a new asset class, and every asset class deserves its own volatility index. The Cboe VVIX IndexSM represents the expected volatility of the VIX®. VVIX derives the expected 30-day volatility of VIX by applying the VIX algorithm to VIX options. Source: Swordfishvegetable
Wall Street is turning less negative on China stocks
Source: Daily Compounding
