"Learn as you go"
Source: Strati Georgopoulos
OIL AND THE DOLLAR SQUEEZE...
Most think oil up must be accompanied with the dollar trading down, but the latest surge in oil has taken place with the dollar squeezing hard as well. Source: TME
Corporate profit margins jump to highest level in 73 years 👀
Source: Bloomberg, Barchart
JUST IN: Personal interest payments in the US hit a record $506 BILLION in July
During the first 7 months of 2023, Americans paid a total of $3.3 TRILLION in personal interest. This is up a staggering 80% since 2021 and nearly above the entire 2022 total. The worst part? These numbers do NOT include interest on mortgage payments. Source: The Kobeissi Letter, FRED
Is the 60/40 portfolio overvalued?
In August 2021, the combined valuation of overall equities and US Treasuries had reached its most expensive level in 130 years. To put the current valuation imbalance into perspective, its recent peak was a staggering 61% higher than its previous peak in the early 2000s. Although prices have corrected somewhat, particularly in the Treasury market, multiples are still elevated today. Source: Tavi Costa, Bloomberg
US High Yield spreads moved down to 3.78% this week, the tightest we've seen since April 2022
Source: Charlie Bilello
The top 3 country equity ETFs in 2023:
1) Argentina $ARGT: +34.7% 2) Greece: $GREK: +32.5% 3) Nigeria $NGE: +29.8% Just like everyone predicted. Source: Charlie Bilello
Nikkei 225 Index breakout ?
Nikkei 225 Index (NKY Index) traded today for the first time above the June consolidation resistance. This is a continuation trend pattern. Source : Bloomberg
