🚨CANADA INFLATION UNEXPECTEDLY RE-ACCELERATES.
May CPI +2.9% vs 2.6% expected. Did they cut rates too soon? Should the Fed worry about cutting too soon as well? Source: CTV News
$525 billion in bank losses should concern everyone.
Source: BofA, Red pill rick
BREAKING: Donald Trump is reportedly in talks to speak at the 2024 Bitcoin convention in July.
This would make Trump the first presidential candidate to speak at a crypto event. Most recently, Trump said he "will end Biden's war on crypto" at a rally in Wisconsin. Source: The Kobeissi Letter
$DECK bought HOKA in 2012 for ~$1.1 million.
A decade later, the company has grown HOKA's revenue from less than $3M to over $1.4B (FY23). That's close to a 500x increase. Is HOKA one of the most impressive consumer product acquisitions of all time? Source: Quartr
If you ever feel bad, remember that in 2019 SoftBank owned 4.9% of $NVDA and sold it all for a $3.3B profit
Today, that stake would have been worth over $160 BILLION. Source: Stocktwits
CAUTION: In the US, Credit card interest rates have skyrocketed to a shocking 21.47%
Moreover, credit card debt has crossed the $1 trillion mark. And personal interest payments have risen to over $500 billion. To make things worse, excess savings have now run out Source: Game of Trades
Nvidia, $NVDA, is making some INSANE moves:
From June 20th through June 24th, Nvidia lost $600 BILLION of market cap in 3 trading days. Today, the stock has added $250 BILLION in market cap from its pre-market low. That's an $850 billion swing in market cap over just 4 trading days. To put this in perspective, that's a swing of 1.5 TIMES the value of Tesla, $TSLA, in just 4 days. Nvidia is casually swinging almost $1 trillion of market cap in just 4 days with no news. Truly historic. Source: The Kobeissi Letter
Asset Managers have built the largest Japanese Yen short position in history
Source: Bloomberg, Barchart
