The share of US consumers expecting higher stock prices over the next 12 months hit 51.4%, the highest on record.
This is even higher than the previous records seen in 2018 and 2000 before the Dot-Com bubble peaked. The percentage has more than DOUBLED over the last 2 years as the stock market has seen one of the largest gains this century. The S&P 500 is now up 40% over the last 12 months marking its 4th best performance since 2000. Stock market sentiment has never been so euphoric. Source: The Kobeissi letter
"Buy Waste Management first thing in the morning"
Source: Not Jerome Powell on X
The BOJ kept interest rates steady on Thursday
The BOJ roughly maintained its forecast that inflation will hover near its 2% inflation target in coming years, signaling its readiness to continue rolling back its massive monetary stimulus. The Yen climbed as much as 0.9% on Ueda comments.
The Swiss National Bank made a solid nine-month profit on rising equities, bonds and gold prices, increasing the chances for a restart of profit distributions after a two-year break.
Switzerland’s central bank notched up a gain of 62.5 billion francs ($72 billion) for the first nine months of the year, it said on Thursday. Although the strong franc ate into the results, the SNB extended its profit during the July-September period. Source: Bloomberg
Central bank of India moves another 102 tonnes from London to its own vaults. It’s a trend.
Source: Times of India
NY POST COVER
Source: Benny Johnson @bennyjohnson on X
It seems the stock markets haven’t yet recognized that equity risk premiums have turned negative.
The yield on the 10y US bond is now higher than the earnings yield of the S&P 500... Source: HolgerZ, Bloomberg
JUST IN: US Bitcoin ETFs now hold over 1 million BTC
Source: Bitcoin magazine on X
