#us #equities #volatility
Dow Jones volatility is now ABOVE bitcoin volatility (using last 10d realized)... Source: BofA
#nasdaq
Nasdaq 100 ETF ($QQQ) at a critical juncture. A break from its current support could accelerate the downside. Source: Bloomberg, Crescat Capital
#china #banking
Banking assets in China have grown 7 fold since the Global Financial Crisis. That completely dwarfs the growth of other major economies. China’s banking assets are almost 3x of its GDP. Hong Kong is close to 9.3x today. Source: Crescat Capital, Bloomberg
#us #earnings
Third-quarter earnings season begins next week with several big banks reporting; Citigroup, JP Morgan Chase, Morgan Stanley all set to report. Source: Earnings Whispers
#sp500 #presidential-cycle
S&P Performance from November through April in Mid to Pre-election Years. Source: waynewhaley
#reits #commodities
Cross-assets chart of the day: real estate (Dow Jones US REIT index) expressed in commodity prices ($REIT:$CRB). Will the asset rotation last? Source: Tuur Demeester
#us #equities #sector #performance
Energy stocks continue to significantly disconnect from the rest of the market. Let’s not forget: - At 11% FCF yield, the overall sector remains cheap; - It remains a low weight in main benchmarks and is underinvested by most fund managers; - While the sector is not ESG friendly, many Oil majors are now becoming more responsible and are investing into Renewables. Source: Crescat Capital, Bloomberg
#german #mortgages
It‘s a huge difference if someone buys property with 0,8% or 4% mortgage just one year later.. Yields of German mortgage-backed securities (so-called Pfandbrief) have risen to highest level since 2011. Consumers have to pay almost 4% for 10y mortgage loans, 4 times as much as at the start of the year. Volume of mortgage loans has slumped 16% YoY. Source: HolgerZ, Bloomberg
