So brutal but so true from @psarofagis
Source: @Eric Balchunas
Countries promised to move away from coal, oil and natural gas at last year’s climate summit. New research shows they’re burning more than ever before.
One year after world leaders made a splashy promise to shift away from fossil fuels, countries are burning more oil, natural gas and coal than ever before, researchers said this week. Global carbon dioxide emissions from fossil fuels are on track to reach a record 37.4 billion metric tons in 2024, a 0.8 percent increase over 2023 levels, according to new data from the Global Carbon Project. It’s a trend that puts countries farther from their goal of stopping global warming. The increase was not uniform across the globe. Emissions will most likely decline this year in the United States and Europe, and fossil fuel use in China slowed. Yet that was offset by a surge in carbon dioxide from India and the rest of the world. Source: NYT
With their massive market caps and impressive price appreciation, the Magnificent7 stocks have played a crucial role in driving the S&P 500 index’s performance.
Without them, S&P 500 returns since December 2022 would be much closer to average, still good, mind you, but more average. 🤣 @ISABELNET_SA thru Lance Roberts on X
Why is altcoin season delayed?
Here's the view by Ki Young Ju on X: "Compared to the last cycle, the nature of capital flowing into Bitcoin has shifted. The current Bitcoin rally is primarily driven by demand from institutional investors and spot ETFs. Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins. Moreover, as they operate outside of crypto exchanges, asset rotation becomes inherently less feasible. While institutional investors might allocate funds to major altcoins via ETFs or investment vehicles, minor altcoins still rely on crypto exchange users to buy them. For altcoins to reach a new all-time high market capitalization, they will require a significant influx of fresh capital to crypto exchanges. The altcoin market cap below its previous ATH indicates reduced fresh liquidity from new exchange users. If Bitcoin retail FOMO reignites, exchange user activity might increase, potentially setting the stage for an altcoin season. However, Bitcoin's future growth is expected to come from ETFs, institutions, and maybe govts, rather than retail traders on crypto exchanges".
Swisscom Back on Demand Zone
Swisscom (SCMN SW) recently posted a strong swing, suggesting that the May consolidation could be over. Keep an eye on the demand zone between 486.80-505 for potential price action. Source: Bloomberg
Vision is everything...
In 1965, Singapore was forced a tiny island of 2M people forced out of Malaysia. No army. No resources. No fresh water. Then ONE man's ruthless vision built modern Asia's greatest success... Source: Great post by Oscar Hoole on X
The S&P 500 is currently on pace for back-to-back years with a total return above 20%.
The last time that happened: 1998-1999. $SPX Source: Charlie Bilello
US Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show - CNBC
Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according to minutes from the November meeting released Tuesday. The meeting summary contained multiple statements indicating that officials are comfortable with the pace of inflation, even though by most measures it remains above the Fed’s 2% goal. With that in mind, and with conviction that the jobs picture is still fairly solid, Federal Open Market Committee members indicated that further rate cuts likely will happen, though they did not specify when and to what degree.
