Trade recession across Asia? China just reported a deeper-than-forecast drop in exports
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms. That’s worse than what analysts had expected. A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to have dropped by 5% during that time, according to the poll. This drop is consistent with weakness just about everywhere in the region. Source: David Ingles, CNBC, Bloomberg
Most of Africa is a no fly zone right now
Source: financelot
China's Inward Foreign Direct Investment Falls To The Lowest Level On Record...
Indeed, Inward FDI fell further in Q2: The preliminary Q2 Balance of Payments (BOP) data released last week showed China's current account still enjoys a healthy surplus, but the financial account continues to see notable net outflows. In particular, inward Foreign Direct Investment (FDI) fell to the lowest level since the series started in 1998. Source: SAFE, www.zerohedge.com
The US Corporate Debt Maturity Wall
$230bn ($525bn Annualized) of Corporate Debt Matures in the Remainder of 2023 $790bn matures in 2024 $1,070bn matures in 2025 Source: Ayesha Tariq, Goldman Sachs
"SOFT LANDING" is becoming mainstream
Source: Bloomberg, Citi
Charlie Munger on complex DCF models
Source: Brian Feroldi
VIX seasonality suggest some volatile months ahead for stocks
Vix Seasonality
The Magnificent Seven have added nearly $4.2T in market cap this year, led by Apple’s $AAPL $781B increase and Nvidia’s $NVDA $745B rise
Microsoft $MSFT, Amazon $AMZN, and Meta $META all have added over $500B as well. Will it last? Source: Beth_Kindig
