Syz the moment

Vacancies fell in November to 8.79 million, lowest since 2021 Quits rate dropped to lowest level in more than three years Source: www.zerohedge.com, Bloomberg

Abu Dhabi’s largest listed company, led by a key member of the emirate’s royal family, is setting up a new holding firm with assets worth 100 billion dirhams ($27 billion) across sectors ranging from financial services to mining. The new firm, called 2PointZero, will be transferred into Abu Dhabi’s $239 billion International Holding Co. Its holdings will include portions of Sheikh Tahnoon bin Zayed Al Nahyan’s sprawling empire, according to a statement late Tuesday. Lunate, Abu Dhabi’s newest fund, will be part of 2PointZero. International Resources Holding, which last month invested more than $1 billion in Zambia’s Mopani copper mine, will also be transferred into the vehicle. Other holdings will include private investment firm Chimera, Egypt’s Beltone Financial, crypto miner Citadel Technologies and Middle East-focused Sagasse Investments. Source: Bloomberg

Their justification? Politics. - 5 voting commissioners are Democrats. - Democrats don't like 'crypto'. - Applicants haven't satisfied the SEC's requirements. - There is not political justification to approve a Bitcoin ETF. Eric Balchunas continues to give a +90% chance of approval due to a number of factors, especially the SEC's significant change in behaviour by way of engaging with applicants and providing them with guidance on updating their applications. Source. Bitcoin Archive

Two years ago, just ~30% of Americans thought it was a bad time to buy a home. Even in 2008, during the worst housing crisis of all time, this metric did not top 85%. In a market with high rates and supply levels 40% below the historical average, affordability is at all time lows. Source: The Kobeissi Letter

"In the few places where full Level 5 autonomous cars are being tested in real world conditions (San Francisco, Austin), they have blocked ambulances on their way to the hospital, hampered other emergency responders, caused accidents, increased congestion and run over pedestrians, one instance of which reportedly resulted in the resignation of Cruise’s CEO. Waymo has added technology to reportedly allow firefighters to take control of its vehicles if they stop moving. LiDAR (autonomous vehicle technology) stocks have collapsed by 85% from their peak - see chart below. A possible backlash might be coming from citizens who believe, as in the case of the despised urban scooter plague, that convenience for some results in dangers and inconvenience for others. Tesla is experiencing problems even at Level 2, which requires driver oversight. The NHTSA investigated a series of crashes involving Tesla autopilot and found that its methods of insuring driver compliance are inadequate and can lead to “foreseeable misuse”. In December, Tesla issued a recall of 2 million vehicles to update the software to require greater driver compliance". Source: JP Morgan, www.zerohege.com

Source: Win Smart, CFA

Source: HolgerZ, Bloomberg

Source: Barchart