🚨 JUST IN: CANADA SLASHES RATES BY 50 BPS
Fifth cut in a row... Dropping the policy rate from 5% to 3.25% in 2024—150 bps total. But it’s not working fast enough: -Unemployment: 6.8% (highest in 8 years). -GDP per capita: Down 6 straight quarters. -Canadian Dollar $CAD at 4.5-year low -Former BOC Governor says “We’re already in a recession.” Market is pricing in another ~50bps of cuts by July 2025 ➡️ 2.75% overnight rate. Source: Genevieve Roch-Decter, CFA, Bloomberg
Draw your own conclusions
Source chart: @topdowncharts
What can wonder what happened in the US last month?
Source: NFIB
There is a reason why Americans are wealthier than others and keep getting wealthier.
What went wrong in Europe? 25 years ago Europe was more productive than the US. Source: Michael A. Arouet @MichaelAArouet
Nvidia's $NVDA has brought in $56.5 Billion of Free Cash Flow over the last year 👀
Source: Evan on X
⁉️WILL THE SEMICONDUCTOR SECTOR PULL DOWN THE S&P 500⁉️
US Semiconductor Sector has declined by 17% over the last 5 months and by 8% over the last few weeks. NVIDIA alone is down 9% over the last month. The chipmaker stock and the sector are testing now key technical levels. Source: Global Markets Investor @GlobalMktObserv
Elon Musk ($447B) is now worth more than Jeff Bezos ($249B) and Bill Gates ($165B) combined.
Source: Evan @StockMKTNewz
US rent prices are falling:
Median asking rent in the US declined 0.7% year-over-year in November to $1,595, the lowest since March 2022. 1-bedroom apartment rent prices fell 1.7%, to $1,450, reaching the lowest level in 3 years. 2-bedroom apartment rent prices declined 1.1%, to $1,671, to the lowest in 9 months. Furthermore, the median asking rent price per square foot dropped 2.2% to $1.79, the lowest since December 2021. This marks the 19th consecutive monthly decrease. Rent prices are cooling off. Source: The Kobeissi Letter
