food for thought
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The first half of the year was a Tale of 2 Markets...
-Best of times: US large cap growth stocks, short duration bonds, US Dollar -Worst of times: Small caps, value, international, long duration bonds, Japanese Yen Source: Charlie Bilello
2024 has been the best H1 start out of all election years going back to 1952
Source: Grant Hawkridge
Hedgeye is unbeaten
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The Japanese Yen is at its lowest level since 1986 against the US Dollar, losing 53% of its value from the 2011 peak.
Markets know that japan has a binding constraint: the fiscal one. They thus need to intervene to keeps yield low which means that they can NOT intervene to strengthen the yen. And so the Yen keeps falling... $JPYUSD Source: Charlie Bilello, Robin Brooks
APPLE IS EXPECTING BIG IPHONE 16 SALES, BASED ON CHIP ORDERS.
STOCK CLOSED UP NEARLY 3% Apple $AAPL has reportedly increased its chip order with TSMC $TSM, With the increased order in place, Apple is supposedly preparing to sell between 90M and 100M units of the iPhone 16 - Apple Insider
China 10-year yield declines to historic low as rally extends
The yield on China’s benchmark bonds fell to a record low as investors continued to snap up the notes amid pessimism about the domestic economy. The onshore 10-year government yield declined two basis points to 2.18%, set to close at the lowest since Bloomberg began tracking the data in 2002. Yields on the 20- and 50- year bonds have been trading at their historic lows for months. Source: Bloomberg
Bridgewater Associates is launching a fund that uses machine learning as the primary basis of its decision-making.
The vehicle will debut with almost $2 billion of capital from more than a half-dozen clients and begin trading Monday, according to people familiar with the matter, who asked not to be identified discussing the strategy. Source: Bloomberg
