WONDERING WHY US STOCKS HAVE BEEN RALLIED SO HARD THIS YEAR
Part of the reasons is share buybacks which currently stand at all-time highs. As shown on the chart below, US share repurchase authorization announcements hit $988 billion, the most on record. This is 3 TIMES HIGHER THAN in 2020 and up 21% year-over-year. Source: Global Markets Investor, Goldman Sachs
Turkey is running the narrowest current account deficit since 2021.
Kudos to Finance minister Mehmet Simsek and his economic team for this turnaround. This is an impressive adjustment! Source: Robin Brooks
Food inflation is accelerating
Source: @Kurtsaltrichter on X, www.tradingeconomics.com
⁉️WHO OWNS THE MOST SHARE OF THE US STOCK MARKET⁉️
US households own 38% of the total equity market, the most among other participants. This equals to roughly $33 trillion. This is followed by foreign investors and active mutual funds with 18% and 12% shares respectively. Source: The Kobeissi Letter
😱 The shocking chart of the day: US consumers' inflation expectations for the next 5-10 years skyrocketed to 7.1% in October, the highest in over 40 years.😱
This metric has DOUBLED in just several months, according to the University of Michigan Consumer Survey. To put this into perspective, median inflation expectations have been at ~3% for the last 3 years. Consumer sentiment has been severely damaged by rising prices of necessities, and expectations are getting worse. This comes as core CPI inflation has been above 3% for 41 months, the longest streak since the early 1990s. Inflation is still a major concern for Americans. Source: The Kobeissi Letter
$NVDA 🚨BREAKING🚨 Nvidia's Blackwell chip is sold out for the next 12 months!
In a meeting with Morgan Stanley, Nvidia executives revealed that the Blackwell chip is sold out for the next 12 months. Morgan Stanley predicts Nvidia's market share will continue to grow in 2025. Source: The Future Investors
Small traders are extremely long in US equities.
Source: Guilherme Tavares i3 invest on X
The gold / silver ratio is 83.5.
Since 1968, this ratio has spent only 10% of the time above current levels. Sometimes switching to silver didn't work (look at 1990). But in 1995, 2003, 2008 and 2018, switching paid off.
