Disinflationary trends in the US
Disinflationary trends in the US 1) CPI Inflation: 3.0%, Lowest since March 2021. 2) PPI Inflation: 0.1%, Lowest since August 2020. 3) Import Prices: -6.1%, Lowest since May 2020. 4) Export Prices: -12%, Lowest on record. Source: Charlie Bilello
Disinflation is on the way in Germany
Disinflation is on the way in Germany. Wholesale prices dropped 2.9% YoY in June, an acceleration from the 2.6% decline from May & the biggest annual decrease since June 2020. Lower wholesale prices could translate to falling #inflation in Germany. Source: HolgerZ, Bloomberg
The NASDAQ (in yellow) has been massively decoupling from the FED balance sheet (in purple)
Source: The Market Ear, Refinitiv
S&P 500 peak in January 2022 vs. peaks in October 2007 and March 2000...
Source: Charlie Bilello
Nasdaq vs Yield Curve
Source: AmplifyME/ Anthony Cheung
"AI is the 4th era and the biggest age of computing"
"AI is the 4th era and the biggest age of computing" A great visual from $AMAT's recent earnings presentation covering the three historic eras of computing, dating back to 1980, and the future potential of the new AI era. Source: Quartr
The spread between US CPI and PPI is a good omen for corporate profit margins
The spread between US CPI and PPI is a good omen for corporate profit margins. This is key to widening profit margins. Companies are able to boost the prices they charge consumers more and more relative to their input cost. The spread between y/y CPI and PPI remains at the widest levels since the current incarnation of PPI started in 2011. Source: Bespoke, Lisa Abramowicz
The sp500 has been anticipating the improvement in earnings (ex-Energy) expectations so far. Can these expectations be met?
Source: Bloomberg (Gina Martin Adams for the #chart)
