Unlike other products, Campbell's Condensed Tomato Soup cannot use shrinkflation to hide the effects of inflation. Watch out below the unit price per can...
Source: Moritz Wietersheim
A map of African countries that have signed military agreements with Russia.
Source: Jackson Hinkle, The Cradle
The Bank of Japan had to intervene twice this week to slow gains in govt bond yields, underscoring its determination to curb sharp moves in rates.
Nevertheless, the 10y Japanese yield has skyrocketed to 0.65%, well above the 0.5% from the YCC. Source: Bloomberg, HolgerZ
Junk bonds are outperforming as soft landing narrative builds
High-yield has returned 6.50% this year vs 3.70% for high-grade.
Junk bonds are emerging as a sweet spot in global fixed-income markets wracked by some of the worst volatility this year, as investors increasingly bet that major economies will avoid recession for now.
Source: Bloomberg
As highlighted by Tavi Costa, the implied demand for oil just surged to all-time highs
It was the largest weekly increase in 26 years. Meanwhile, US oil production remains ~7% below pre-pandemic levels with total operating rigs starting to contract for the first time in 3 years. Source: Bloomberg, Crescat Capital
A mixed message from the July US jobs report: the US economy added 187k jobs according to Establishment survey, a tiny bit below Street’s +200k forecast
According to the Household survey, the number of employed people rose by 268k. Because of this 268k number, unemployment rate dipped to 3.5%, down from 3.6% in June and below estimated 3.6%. Wages ran hot, coming in at +4.4% YoY (vs Street +4.2% and vs +4.4% in June). Source: HolgerZ, Bloomberg
Nasdaq has now been 'overbought' for 60 days
Its longest period since the run-up to the bursting of the dot-com bubble...
Who is the most active congressional trader?
Well, the answer lies with Josh Gottheimer, a Member of the U.S. House of Representatives in New Jersey's 5th congressional district. 📈His trade volume is significantly higher than the next most active trader💰！ Source: Genuine Impact
