$MRNA Moderna falls to its lowest closing price since the onset of Covid
Shares down more than 95% since the 2021 all-time high - absolute collapse Source: Barchart
📢 MICHAEL BURRY HAS SOLD EVERY SINGLE STOCK HE OWNED.
HE DID START A NEW POSITION IN ESTEE LAUDER THATS HIS ONLY CURRENT POSITION 😨 Michael Burry didn’t just trim his longs. He loaded up on PUTS. 🔴 He’s betting against: • $NVDA (900k shares) • $BABA, $PDD, $JD, $BIDU (China) • $TCOM ‼️ Nearly 50% of his portfolio is a short on $NVDA alone. The Big Bear is back🐻 Source: GURGAVIN on X, Michael Burry Stock Tracker
In case you missed it
US Core PPI fell to 2.4%, lower than expectations 👀It is the lowest MoM print since April 2020 lockdowns Here are the PPI details 🥶🥶🥶 PPI MoM: -0.5% vs 0.2% exp. PPI YoY: 2.4% vs 2.5% exp. PPI Core YoY: 3.1% vs 3.1% exp. Source: Mike Zaccardi, CFA, CMT 🍖
During a huge risk-on advance, US High yield spreads have tightened 152 bps since April 7.
With spreads now at 309 bps above Treasuries, credit market investors are back to pricing in a very optimistic outlook with no recession and few defaults. Source: Charlie Bilello, Y Charts
A clean multi decade breakout?
Source: The Long View, @HayekAndKeynes
The ratio of the US Health Care sector to the S&P 500 is at its lowest level since January 2001.
The Health Care Sector is down 9% over the past year while the S&P 500 is up 14%. $XLV $SPY Source: Charlie Bilello
In case you missed it...
Tesla $TSLA now up more than 50% over the last 3 weeks Source: Barchart
Gold extends slide, selling off for 5 of the past 7 days, and dropping below the 50DMA amid lull in Chinese retail/ETF buying,
as the tariff truce eases fears of sharp currency devaluations for now. Source: zerohedge
