Beware the short squeeze... CTAs are now short $25 billion of US equities, one of the largest short positions in the 8 years...
Source: Barchart
*BREAKING* BOJ Buys More Bonds to Slow Rising Yields a Day After Tweak Central bank acts after 10-year yield touches decade high - BLOOMBERG
The Bank of Japan stepped into the bond market unexpectedly Wednesday to curb the pace of gains in sovereign yields, just a day after announcing it was loosening its grip on debt prices. The central bank’s unscheduled purchase operation statement came as the benchmark 10-year bond yield touched 0.97% — a fresh decade-high but still below the 1% cap it removed in favor of a more flexible policy setting. There was very little immediate market reaction to the move, with traders trimming one basis point off the 10-year yield before it recovered half of that. Bond futures pared losses and the yen, which is sensitive to shifts in interest rates, shed a fraction of its advance versus the dollar.
The US equity market ultra-dominance
Source: Michel A.Arouet, Bloomberg, Goldman Sachs
Another Uptober for Bitcoin. Largest cryptocurrency gained 28% in Oct, most since Jan2023
Source: Bloomberg, HolgerZ
Who's buying houses with record high prices and 8% mortgage rates. The answer?
Millennials are piling in to new mortgages even with the spike in rates. Since Q4 2021, Millennials have seen a ~20% increase in mortgage debt. This is the same group of people who just had student loan payments return at an average of $500/month. It's a tough time to be a Millennial... Source: The Kobeissi Letter, BofA
Bitcoin white paper turns 15 as Satoshi Nakamoto’s legacy lives on
“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi wrote in an Oct. 31 email in 2008. Bitcoin $BTC Golden Cross formation. Today, there is a Golden cross formation which just took place on $BTC - see chart below. Source: Barchart
15 great swiss inventions
Source: World of statistics
US To Borrow $1.5 Trillion In Debt This & Next Quarter, After Borrowing A Massive $1 Trillion Last Quarter
During the October – December 2023 quarter, Treasury expects to borrow $776 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $750 billion. The borrowing estimate is $76 billion lower than announced in July 2023, largely due to projections of higher receipts somewhat offset by higher outlays. During the January – March 2024 quarter, Treasury expects to borrow $816 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $750 billion. Source: www.zerohedge.com
