This is Bloomberg's measure of bond market liquidity, which compares actual yield curves to synthetic smooth yield curves for each country
The more kinks you have in the yield curve, the higher this index and the worse is liquidity. UK off the charts, France rising rapidly... Source: Robin Brooks
Based on forward P/E, US equities are trading at a 53% premium relative to the rest of the world
Source: Augur Infinity
The UK faces the doom loop of rising borrowing costs, growing deficits and a government facing a lot of bad choices to raise revenues
Yields on 30-year gilts have reached their highest levels since 1998. Source: Lisa Abramowicz @lisaabramowicz1, Bloomberg
What's next for gold?
Here's the technical analysis view from J-C Parets: "After spending months coiling beneath the 423.6% Fibonacci extension, Gold futures are now resolving higher. This has been the pattern time and time again. Gold pauses at an extension level, builds energy, then launches to the next target. Every one of those continuation patterns has marked the beginning of another leg higher, and this one looks no different. As long as this breakout sticks, we think 4,500 is next". Source: All Star Charts team
The secret to a long and happy life
Source: Compounding Quality
This is where AI gets its facts…
Source: Stocktwits, Visual Capitalist
September is historically the WORST month for US and global stocks
The S&P 500 and MSCI All-Country World Index have averaged a –2% return in September over the past decade. Stocks fell in 4 out of the last 5 Septembers, with the steepest drop in 2022 — exceeding 9%. Source: Global Markets Investor @GlobalMktObserv, Bloomberg
20-year US Treasuries are down ~38% since 2020, the worst drawdown in over a century
What was once seen as the world’s “safest” asset has instead delivered stock-like volatility. Deficits, inflation, and weak demand are forcing long yields higher. Source: stockmarket.news on X
