Bonds and stocks are tanking together... Are Chinese banks selling US Treasuries to 'fund' their yuan intervention?
Source: Bloomberg, www.zerohedge.com
Bitcoin selling intensifies wth
Some of it has been attributed to legal uncertainties surrounding Greyscale's lawsuit against the SEC, with a ruling coming as early as Friday Evergrande's bankruptcy isn't helping the mood. Source: Markets & Mayhem
Are US consumers heading for trouble?
Only $200 billion is left in excess savings, which is keeping households afloat. 2 months ago, this number was at $500 billion. At current rate, savings will be depleted by September 2023 Source: Game of trades
There is bearish divergence spotted between the market (SP500) and % of stocks above their 200-day MA
The last occurrence led to significant downside for equities. Source: Game of Trades
Walmart on Thursday raised its full-year forecast, as the discounter leaned on its low-price reputation to draw grocery customers and drive online spending
The big-box retailer beat Wall Street’s expectations for sales and profits. E-commerce sales for Walmart U.S. also jumped 24%. Walmart said it now expects full fiscal-year consolidated net sales to increase by about 4% to 4.5%. It said adjusted earnings per share for the year will range between $6.36 and $6.46. That compares with its prior guidance for consolidated net sales gains of 3.5% and an adjusted earnings per share range of between $6.10 and $6.20. Source: App Economy Insights, CNBC
The Rise and Fall of WeWork
Source: TVisualCapitalist
Unprecedented times in Argentina
- On Monday, Argentina’s central bank raised interest rates to 118%. - Forex: you now get a record 350 Argentine Pesos for each US Dollar. - Argentina 30-year mortgage is now at a record 82.2%. - For the first time since 1991, their inflation rate is above 100%. Source: The Kobeissi Letter
Looking at the recent sales transactions, house prices have accelerated significantly in the last 4 months to record levels, now growing at almost a 10% annualized rate
As a remainder, shelter costs / rents jave been putting upward pressure on core CPI and are expected to ease. Really? Source: Tavi Costa, Crescat Capital, Bloomberg
