Inflation has been a boost to sp500 companies top-line growth
Now that inflation starts to cool down, could it work the otehr way around? here's the view from Morgan Stanley: "Our boom/bust framework would suggest inflation as it relates to corporate earnings (i.e., pricing) falls toward zero or even below. This is likely to have a significant impact on sales growth and, consequently, on earnings growth as negative operating leverage takes hold." Source: TME
While WTI oil hit $86, the rig count is still in plunge mode...
*A cumulative $4.9T of investments in global upstream oil and gas are needed by 2030 to meet market needs and prevent a supply shortfall" ---International Energy Forum (IEF) and S&P Global Commodity Insights. Source: Lawrence McDonald, Bloomberg
Keynes on successful investing:
by Brian Feroldi
Total Global Debt is now estimated to be over $300 Trillion and has been rising exponentially since 1971
Source: TheBTCTherapist
$862bn in deposits have left the banks since the Fed began to raise interest rates
Source: Apollo, TME
Trafigura says ‘fragile’ oil market may be prone to price spikes as higher interest rates and underinvestment squeeze the market according to a Bloomberg article
- The consensus view is for prices to remain near current levels, but the market is “more fragile than it looks,” Ben Luckock, the co-head of oil trading said in an interview at APPEC in Singapore. Brent crude is nearing $90 a barrel after OPEC+ heavyweights reduced supply — curbs that could continue further. - “One reason is underinvestment in new oil production,” he said on Monday. “Combined with higher interest rates, which make it more expensive to hold oil in storage, it means there isn’t much slack or flex in the system. Put all together, and you have a market that’s susceptible to price spikes.” - Oil options traders are showing confidence in the recent sustained surge in prices, bolstering wagers that crude will rally toward $100, even as questions remain over China’s outlook. However, Luckock and other attendees at the conference said it wasn’t all bad when it came to nation’s economy.
HAPPY BIRTHDAY GOOGLE!
OTD in Tech History 4 September 1998, Google was founded by Larry Page and Sergey Brin, while they were PhD students at Stanford University. Below a Timeline and FAQ about Google (by officetimeline.com): 1) When was Google created? The search engine Google started development in 1996, and it was originally named Backrub, which later became Google, a play on the term “googol”. Google Inc. was officially founded on September 4, 1998 to market Google Search. 2) What does Google mean? The name Google is a creative spelling of googol, the mathematical expression for the number 1 followed by 100 zeros. The term googol was coined back in 1930s, and is attributed to Milton Sirotta, the 9-year-old nephew of American mathematician Edward Kasner. Also, google has become a verb, meaning “to use the Google search engine to search for information about someone or something on the internet”. Today, the meaning of the term google has widened even more and is often used as “to look up information online” using any search engine.
Is the market too complacent? retail investor flows are exceeding 2021 highs
Source: Topdown charts, vanda research via FT
