The U.S. housing market just broke 1,000,000 listings.
Excess inventory is piling up. Relative to buyer demand, we now have the highest inventory in close to a decade. Which is causing home prices to drop in over half the U.S. Source: Nick Gerli @nickgerli1
U.S. May. Nonfarm Payrolls: 139K, [Est. 130k, Prev. 177K]
May. Unemployment Rate: 4.2%, [Est. 4.2%, Prev. 4.2%] May. Average Hourly Earnings (MoM): 0.4%, [Est. 0.3%, Prev. 0.2%] May. Average Hourly Earnings (YoY): 3.9%, [Est. 3.7%, Prev. 3.8%] Source: Bloomberg
![U.S. May. Nonfarm Payrolls: 139K, [Est. 130k, Prev. 177K]](https://blog.syzgroup.com/hubfs/10-Jun-06-2025-02-36-54-5263-PM.jpg)
If you squint hard enough, you'll notice an outlier in the S&P 500 when it comes to Price/Sales vs YTD Return.
Source: Koyfin
Circle stock ($CRCL) surges 168% in blockbuster NYSE Debut as stablecoin giant goes public.
The stablecoin issuer's shares closed at $83.23, marking the crypto industry's second-largest public listing. The stablecoin giant's first day as a public company saw explosive trading activity, with 47.1 million shares changing hands as the stock swung between a daily high of $103.75 and low of $66.60. The dramatic price action pushed Circle's market capitalization to $16.7 billion by the closing bell, a remarkable turnaround for a company that had priced its IPO below its previous private market valuation. Circle's successful flotation represents the largest crypto-related public listing since Coinbase's 2021 debut and marks a watershed moment for the stablecoin sector. The Boston-based company raised $1.05 billion in an upsized offering that comes three years after a failed attempt to go public through a $9 billion SPAC transaction that collapsed in 2022. Source: www.blocklead.co
YouTube is now the No.1 platform on U.S. TVs, with a 12.4% share of total viewing and 25%+ among streamings.
Its ad + subscription revenue topped $50B last year. At Netflix's 12x sales multiple, YouTube alone could be worth $700B+. $GOOG $GOOGL $NFLX Source: Vlad Investment Bastion
Will Musk create a new political party?
Source: www.zerohedge.com, Polymarkets
Current state of affairs 🍿Markets situation yesterday summarized in one image courtesy of Trend Spider.
Tesla was a big laggard in the session, down more than 14%, after President Donald Trump said he was “very disappointed” in CEO Elon Musk. Musk shot back at President Donald Trump, saying in a post on X that “without me, Trump would have lost the election.” The feud further intensified after Trump called Musk ”‘CRAZY” and signaled that he might cut his companies’ government contracts.
U.S. treasury just bought back $10 billion of its own debt, the largest buyback ever
Source: Department of the Treasury
