👉 A very important chart about global liquidity...
While the fed is still in qt mode (it has decreased the size of its balance sheet by $200B between May and September), the PBOC is in qe mode having increased its balance sheet by $560B between May and September... Ne-net liquidity is increasing. With global central banks cutting rates at the most aggressive pace since the pandemic and with the PBOC expanding the size of its balance sheet almost 3x more than the Fed is reducing it, it will be interesting to see the consequences on inflation + on gold, silver, etc. Source chart: Jeff Weniger
The US Bond Market has now been in a drawdown for over 50 months, by far the longest in history.
Source: Charlie Bilello
⁉️WHO OWNS THE US PUBLIC DEBT⁉️
~33% of the $35.7 trillion federal debt is held by government funds, including Social Security and the Fed. Over 25% is owned by foreign governments with the most held by Japan and subsequently China. ~15% is held by mutual investment funds. Source: Global Markets Investor
Since the launch of ChatGPT, the 6 biggest tech companies have added $8.2T in market value.
Nvidia added the most, with more than $2.5B! $NVDA $MSFT $META $AAPL $AMZN $GOOGL Source: Bloomberg Opinion, The Future Investors
BREAKING 🚨: The "Yen carry trade unwinding risk" is unwinding
Japanese Yen has fallen through the 150 level against the U.S. Dollar for the first time in 2.5 months Source: Barchart
😱 The shocking chart of the day: CHINESE DEBT SIZE IS ABSOLUTELY MIND-BLOWING😱
China's debt-to-GDP ratio hit a MASSIVE 366% in Q1 2024, a new record. Since 2008, the ratio has more than DOUBLED. Breakdown: Non-Financial Corporates: 171% Government: 86% Households: 64% Financial Corporates: 45% Even with this huge debt, China cannot achieve a 5% GDP growth target. How much additional leverage do they need to boost growth? And at what cost? Source: Global Markets Investor, IIF, Wells Fargo
$NVDA back at all-time highs, but now trading 16% cheaper on a trailing P/E basis. ☕️
Source: Trend Spider
Is "America's exceptionalism" too much of a crowded trade?
Watch out The Economist cover below 👇
