As the yen teeters toward 160, Japan says it's ready to intervene in the Yen's collapse 24 hours a day if necessary 👀
Note that previous interventions have been unsuccessful, to say the least... Source: Barchart
The Nasdaq 100 and Bitcoin have moved in tandem for the past 4+ years.
With the recent Tech rally, the Nasdaq is showing its largest divergence versus Bitcoin during this time frame. Will we see bitcoin catch up or Tech catch down? Source: David Marlin
Mega Cap Tech Stocks hit their most overbought level in more than 6 years last week
Source: Barchart, Bloomberg
Was the recent trend of growth stocks outperforming value stocks an anomaly, driven mainly by lower capital costs that favored growth over profitability?
As shown below, history shows that US value outperformed US growth most of the time (using rolling 10-year Total Return) Source: Tavi Costa, BofA
Moscow to Mumbai.💥
The INSTC corridor is making progress every day. The International North–South Transport Corridor (INSTC) is a 7,200-km (4500 mile) long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and Europe. The objective of the corridor is to increase trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, Bandar Anzali, etc. Russia-Iran-India corridor is a game-changer that involves many countries and different modes of transportation. And quite a logistical and geopolitical accomplishment! Source: S.L Khantan
Prediction markets imply markedly higher odds of a Trump presidency than a Biden presidency ahead of next week's first presidential debate
w/the probability of a Republication sweep (42%) almost twice the odds of a Democratic sweep (22%). Source: GS thru HolgerZ
History shows an average 25% increase in volatility from July-Nov of election years...
Mike Zaccardi, CFA, CMT, BofA
The Citi US economic surprise index has fallen to about the most negative since 2022
h/t @daniburgz, Liz Abramowitz, Bloomberg
