India’s dependence on Chinese imports keeps growing:
• In 2023-24 financial year China edged past the US to reclaim its position as India’s top trading partner • India’s imports from China rose by 56% since 2020, fuelling a 75% rise in country's trade deficit with China Source: Agathe Demarais, The Economist
So far in 2024, only 29.8% of the stocks in the S&P500 are outperforming the benchmark.
Source: Koyfin
Remarkable chart: gold in yen.
No further comments necessary. Source: Michel A.Arouet, Ht @AugurInfinity
BLACKROCK UPDATED THEIR WEBSITE.
$ETHA
Semi conductors Companies Ranked by Market Cap - @EricFlaningam on X:
1)The scale of the industry is incredible. Many public companies larger than $10B aren’t listed here. 2) $NVDA's performance over the last two years has to be one of the best tech stories ever. Incredible how they built their accelerated computing ecosystem for over a decade before the current infrastructure boom.
US 10y-3m yield spread has been negative for more than 440 days.
But no recession so far... Source: Kevin Gordon
Used car prices are crashing: Used car and truck prices are now down 17.5% since the 2021 peak, the largest decline in 15 years.
Over the last 35 years, there were only two times when prices of used vehicles saw a bigger drawdown: in 2004 and 2009. Overall, US wholesale prices of used vehicles have declined for 22 consecutive months. In June, average wholesale prices decreased by 8.9% year-over-year to $17,934. EV makers have been hit the hardest, with some EV prices falling over 40% since last year. The car market bubble has popped. Source: The Kobeissi Letter, Bloomberg
"The H1 results reflect LVMH's remarkable resilience, backed by the strength of its Maisons and the responsiveness of its teams in a climate of economic and geopolitical uncertainty."
Bernard Arnault Below $LVMH Q2 2024 organic revenue growth by business group by Quartr.
