Bravo 👏
Source: Sven Henrich @NorthmanTrader
On Wednesday morning, Bitcoin flipped Google in market cap.
Yet compared to global assets, it’s barely a blip: 🏠Real Estate: $635T 📉Debt: $141T 📊Equity: $125T 🥇Gold: $23T ₿ Bitcoin: $2T Source: Priced in ₿itcoin ∞/21M @PricedinBTC on X
Global Markets Investor @GlobalMktObserv ‼️
China's gold buying has been truly historic: China's gold reserves hit a RECORD 73.5 million troy ounces. China has bought a whopping 10 MILLION troy ounces of gold over the last 30 months. In effect, gold's share of China's total foreign reserves hit 7.1%, an all-time high. Source: Global Markets Investor
As highlighted by Otavio (Tavi) Costa, we're currently seeing the biggest drop in the gold-to-silver ratio since 2008.
That move back then marked the start of a long downtrend that eventually took the ratio all the way to 31 over the next three years. Are we heading into a similar setup now? (except we're starting from an even more extreme level). We’ve just dipped below 100; in 2008, the peak was 85. Just to put it in perspective: If the ratio drops to 30 today, silver would be trading around $110 an ounce. Source: Bloomberg, Crescat Capital
Wow. Systematic macro hedge funds have reduced exposure to US equities to levels not seen since the COVID crash.
They sure have a lot of buying to do if the market stays bid. Chart: Goldman Sachs thru Markets & Mayhem
The BofA Fund manager survey can be used as a great contrarian indicator.
Even BofA's Hartnett is mocking how contrarian his Fund Manager Survey has become... Source: zerohedge
Warren Buffett looks at market cap-to-GDP as one indicator for how frothy or cheap the markets may be.
The S&P 500 recently traded around 168% market cap-to-GDP vs the global equity markets at around 90%. That suggests US stocks are .. exceptionally expensive. Chart: Goldman, Markets & Mayhem
BREAKING: Luis Antonio Tagle overtakes Pietro Parolin as the likely successor to Pope Francis.
If elected, Cardinal Tagle would be the first Filipino Pope in history. Source; Stocktwits
