Germany has significantly lagged behind the US in economic growth over the past 30yrs
Since 1980, the US econ has expanded tenfold, while Germany's has only grown fivefold. This disparity is partly due to faster population growth in the US. However, the underperformance since the 1990s is no accident. The US has capitalized on digitalization far more effectively, driving economic gains, whereas Germany has been slower to embrace technological transformation. A clear example of this is Volkswagen, which highlights Germany's cautious approach to modernization. Source: HolgerZ, Bloomberg
Apollo: "This is a soft landing"
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An important chart by J-C Parets >>> High Beta outperforming Low Volatility stocks is usually something we see in healthy market environments.
This year, however, High Beta has been struggling to make any progress vs their Low Volatility counterparts. "Beta" is essentially how volatile a stock is relative to its benchmark. So High Beta think $SMCI, $NVDA, $AMD, etc.. You have half the S&P500 High Beta Index in Technology and another 17% in Consumer Discretionary. In contrast, for Low Volatility think Berkshire Hathaway, Coca-Cola, Visa, Procter & Gamble. You'll find a lot of Financials, Consumer Staples, Utilities and Industrials in this group. Source: J-C Parets
RUSSIA ANNOUNCES 700% INCREASE IN GOLD/FX PURCHASES. MONTH BEFORE BRICS SUMMIT
Source: Tass, VBL’s Ghost
Crude Oil Back on Major Support Zone
Crude Oil WTI is back once again in the major support zone between 62.43-69.23. It's also testing the March 2022 downtrend line. Keep an eye on these very important levels. Source: Bloomberg
Markets tend to struggle from now until mid-October during Presidential election years
BofA
Gold is rising because of demand for "fallback money"
Source: Bloomberg
China weighs cutting mortgage rates in two steps to shield banks
Source: Bloomberg
