HARD ASSETS ARE AT LOWEST RELATIVE TO FINANCIAL ASSETS SINCE 1925...
Source: BofA
$SPX/GDP, the 'Buffet' indicator, is back near the 2021 highs
Source: Swordfishvegetable
Everyone is aware of German deindustrialization by now, unfortunately industrial production in other major European countries is not looking much better.
Source: Michel A.Arouet, skhanniche
Bond markets are getting crushed this week: The bond tracking ETF, $TLT, is down 4% since Friday and on track for its worst week this year.
Why is this happening? - First, CPI inflation data showed that inflation JUMPED to 3.2% and is now up from 2 straight months. - Then, PPI inflation data nearly DOUBLED, rising to 1.6%, further igniting fears of a rebound in inflation. - Interestrate cuts are quickly being removed from market expectations. Source: The Kobeissi Letter
Why has the sp500 been moving higher despite rate cuts expectations being revised downward?
It is as simple as EPS 12 month estimates have soared. Up another 2% the past 12 months. Source: Ryan Detrick
JUST IN: Wealth advisor platform Cetera just approved Bitcoin ETFs to be offered to clients.
It has $475 billion in assets under administration and $190 billion in assets under management. Source: Bitcoin Archive, X
Bitcoin ownership distribution
- Eric Balchunas
The Chinese government has gone "Full BoJ style", purchasing $45b of ETFs in the past 2 months to pump up market.
They already own like 1/5 of all equity ETFs. They moved to buying small caps because it moves stocks more. Purchases could reach $100b this year. Source: Bloomberg, Eric Balchunas
