The S&P 500's performance has been truly outstanding this year.
The index is up 9% year to date which is more than DOUBLE the average YTD return in an election year. In the past, the median return during a US presidential election year was about 11%. There are still several months until the presidential election but the index is on track to significantly exceed its historical performance. Source: The Kobeissi Letter
What is it this time?
Source: www.zerohedge.com
BREAKING 🚨: St. Louis Commercial Real Estate
The Former AT&T Building in St. Louis just sold for $3.6 million. In 2006, it sold for $205 million. A total loss of more than 98%. Source: Barchart
Price increases over last decade...
McDonald's: +100% Popeyes: +86% Taco Bell: +81% Chipotle: +75% Jimmy John's: +62% Arby's: +55% Burger King: +55% Chick-fil-A: +55% Wendy's: +55% Panera: +54% Subway: +39% Starbucks: +39% US Government Reported Inflation (CPI): +31% Source: Charlie Bilello
Bitcoin’s inflation rate will become lower than gold’s post-halving
Source: Bitcoin Magazine
Could an ECB rate cut change reverse this trend?
It might not be enough to offset some of teh structural issues the old continent is facing (overregulation, demographics, lack of tech innovation and energy dependence among others). Source: Bloomberg, Michel A.Arouet
Central bank purchases, mainly by China have been quoted as the main reason for recent gold rally.
Gold makes out only 4.3% of china’s reserves, there is still large room for further purchases. Source: Michel A.Arouet
The 10y annualized return of US Treasuries has dropped to a 65-year low of 0.6%.
The 2020s era of war, protectionism, fiscal excess, scarce energy/housing/labor killed the 4 decades-long bond bull market. Source: BofA; HolgerZ
