HedgeFunds are now the least bullish on Mag7 stocks since May 2023
Source: GS Prime, Barchart
Goldman: to escape deflation and for the rally to be sustainable, China's M1 has to overtake its M2.
For that to happen, China will need to unleash a historic credit impulse (record new debt creation, launch QE) and global inflationary shockwave. Source: zerohedge
GS: South Africa, Commodity heavy EMs (Peru, Chile), and North Asian equity markets have the highest sensitivity to China growth
Source: Mike Zaccardi, CFA, CMT 🍖, Goldman Sachs
Here's a bullish chart.
Achieving a 52 and multi-year high in the Discretionary over Staples performance ratio, in the Q4 period, is not bearish and historically a harbinger of higher equity prices by year-end. Source: @Seth Golden on X
‼️IN REALITY US JOB MARKET SHED 458,000 PRIVATE JOBS IN SEPTEMBER‼️
Not seasonally adjusted private sector workers FELL by 458,000 in Sep. Government jobs SPIKED 918,000 This largely came as young people left summer jobs and returned to school while teachers went back to work. Source: Global Markets Investor
Russia may be poised to make a notable shift in its precious metals strategy, with silver potentially emerging as a key asset in the country’s expanding State Fund.
According to a report released by Interfax this week and cited by Bloomberg, Russia’s Draft Federal Budget outlines plans to significantly bolster its holdings in precious metals over the coming years. Notably, the budget includes plans to acquire gold, platinum, palladium, and, for the first time, silver. The inclusion of silver in the State Fund's acquisition strategy marks a departure from recent trends. While central banks around the globe, particularly Russia, have set records in gold purchases following international sanctions, silver has largely remained off their radar. This latest development suggests that silver’s role in Russia’s financial strategy may be evolving. Source: The Jerusalem Post
Commodities, measured by the Bloomberg Commodity Index, are on the verge of breaking out!
Source: Bloomberg, Karel Merck on X
The Kraneshares CSI China Internet ETF $KWEB took in $700m on Wednesday, its biggest inflow ever
Source: Bloomberg, Katie Greifeld
