Bets of a Kamala Harris nomination are exploding
Source: Bloomberg
Nvidia in 2024 vs. Cisco Systems in 2000..
Nvidia recently earned the most valuable company in the world status with an EV of $3.3 trillion, a record 11.7% of total US GDP at its recent peak on June 18, more than twice as high as Cisco’s achievement in 2000. It also has an even richer multiple of 41 times revenues. Will be future growth be up to the lofty market expectations? Source: Crescat Capital, Bloomberg, Tavi Costa
Outperformance of sp500 vs US 30-year Treasury bond is massive. What would it take to reverse the trend?
Source: Mac10
Italians make in real terms less today than they used to in 1990, one really needs to admire how calm they stay about it.
Chart: Michel A.Arouet, @heimbergecon
BREAKING: US consumers' average 5-10 year inflation expectations have spiked to 5.6%, the highest in 31 years.
This measure increased by ~2 percentage points in just a few months. By comparison, median inflation expectations are around 3%, in-line with the readings seen over the last 3 years. Meanwhile, CPI inflation has been above 3% for 38 consecutive months, the longest streak since the 1990s. Will inflation stay a major issue in H2 2024? Source: The Kobeissi letter, Bloomberg
Tesla is making the comeback of the year...
Tesla, $TSLA, is now the 12th largest public company in the world. Since the April 2024 low, Tesla stock is now up over 80% and has added $350 BILLION in market cap. The stock is also now just 1.5% away from being UP year-to-date after falling nearly 40% in the first 4 months. If $TSLA hits ~$257 per share, it will be one of the top 10 largest public companies in the world. Just 2 months ago, Tesla briefly fell off the top 20 list as worries over the EV market arose. Source: Kobeissi Letter
Latin phrases you should know...
Source: Massimo @RainMaker73
Kamala Harris and Joe Biden's odds of securing the Democratic presidential nomination have converged...
Source: Bloomberg, Michael McDonough
