US 30Year Yield reaches 2007 High
The US 30-year yield rose to the highest level since 2007. This week's Treasury selloff came after US lawmakers managed to avert a government shutdown, prompting traders to increase bets that the Federal Reserve will raise rates in November.
Lindt & Spruengli testing June 2022 trendline support
Lindt & Spruengli (LISP SW) is back on June 2022 trendline support. Keep an eye on it. Source : Bloomberg
Hedge funds have now built the largest short position in U.S. Treasuries in history
Source: DB, barchart
The new safety trade
-> An incredible $993 billion has gone into money market funds since the Fed started raising rates in March 2020. Inflows to money market funds are well ahead those seen in 2015, 2004, 1999 and 1994 rate hike cycles. Why take risk on your "safety" trade when you can make 5% risk-free? Source: The Kobeissi Letter
On a growth-adjusted basis, the mega caps trade at the largest discount to the median S&P 500 stock in over six years
Source: TME, Goldman Sachs
New home buyers in the US
Source: Michel A. Gayed
A death cross on the Euro-dollar
Watch out the key 1.05 support level. There is not safety net underneath Source: TME Activate to view larger image,
Asset class and style returns by JP Morgan
As bonds and stocks fell simultaneously, commodities were the notable outperformer in Q3, returning 4.7% and echoing the market dynamics of 2022. Source: JP Morgan
