Here’s what Wall Street is expecting for US CPI today
Source: WSJ
JUST IN: Federal Reserve will cut interest rates by 50 basis points as soon as June and 150 points by the end of this year, says State Street in call against Wall Street consensus
Source: Bloomberg, radar
Breaking News: Fitch revises outlook on china to negative
Source: Bloomberg, David Ingles
Costco is selling a lot of Gold
Source: Nostra, House of Gold, CNBC
JUST IN 🚨: Fidelity now holds more than 150,000 Bitcoin $BTC worth over $10.2 billion
Source: barchart
The 60/40 portfolio doesn't fit all macro regimes by Alfonso Peccatiello / The macro compass
The 60/40 portfolio (60% equities / 40% bonds) did work great for 3 of the last 4 decades, and that's because the macro regime was one of predictably low growth and inflation, and Central Banks ready to support markets and economies. But are you sure the next 10 years be the same as the last 10 years?
US breakeven inflation rates rising
Source: Win Smart; Goldman Sachs, Bloomberg
US smallcap stocks now account for less than 4% of the entire US equity market.
They now reflect the same percentage of the market as 1930 before the Great Depression. As AI-hype as spreads, small cap stocks have significantly underperformed large caps. Currently, more than one-third of the Russell 2000 index has negative earnings, down from ~45% in 2020. Small-cap stocks are now hated more than ever. Source: The Kobeissi Letter
