Looking at the recent sales transactions, house prices have accelerated significantly in the last 4 months to record levels, now growing at almost a 10% annualized rate
As a remainder, shelter costs / rents jave been putting upward pressure on core CPI and are expected to ease. Really? Source: Tavi Costa, Crescat Capital, Bloomberg
Soccerflation...Perks that Neymar Júnior will receive in Saudi Arabia:
• €100M-a-year salary • House with 25 bedrooms • 40x10 meter swimming pool and 3 saunas • 5 full-time staff for his house • Bentley Continental GT • Aston Martin DBX • Lamborghini Huracán • 24-hour driver • all bills for hotels, restaurants and various services during his OFF days will be sent to the club headquarters to be paid • Private plane at his disposal for his travels • €500,000 for each social media post that promotes Saudi Arabia Source: The world of Statistics
An horrible 20-year JGB auction today tailed the most since 1987, showing that investors require a higher yield to buy JGB
Rising JGB yields threaten bonds worldwide, so we see EU and US sovereign yields accelerating their rise this morning. Source: Althea Spinozzi aka "The Bond girl"
A tricky time for US government bonds...
US Treasuries are facing multiple headwinds - economic strength (Atlanta Fed's real-time GDP growth forecast is tracking close to 4% for the third quarter), an uptick in energy prices and FED QT. But another headwind is fading demand stemming from historical buyers of US Treasuries: 1- China US Treasury holdings just hit a 14-year low at less than $850bn 2- Saudi Arabia’s stockpile of US Treasuries fell to the lowest level in more than six year (less than $100B) 3 - As Japanese long-term yields rose (due to a tweak in their #monetarypolicy), the largest foreign holders of US Treasuries, Japanese investors, became less interested in US bonds and asked for a premium. Source cartoon: GISreportonline
Quote of the day by Ben Graham
Source: JC Parets
Bitcoin approaching support 28’000
Bitcoin (XBTUSD) is approaching December 2022 uptrend support at 28’000. Keep an eye. Source : Bloomberg
Dassault Systemes at a very interesting level
Dassault Systemes (DSY FP) is back on a very interesting level. After May breakout and a 3 months consolidation (13% down since June high), stock is testing October uptrend support. Keep an eye at this zone 35.75-36.25. Source : Bloomberg
Gold breaking double support
Gold (XAU) is breaking June support 1907 and 200 days Moving Average at 1905. Next support levels are 1856 (minor) and 1807 (major). Source : Bloomberg
