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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 10 Jul 2026 - - - #### 🚨 The labor market still refuses to crack.\* Initial jobless claims remain stuck in a remarkably stable range of 200,000–230,000, while continuing claims are hovering around 1.8 million. For more than two years, recession fears have dominated headlines. Yet the one indicator that typically flashes red before a downturn still isn't doing it. Yes, workers who lose their jobs are taking longer to find new ones, pushing continuing claims higher. But companies are not laying off employees at the pace you would expect ahead of a recession. That's the key distinction. 📌 The labor market is cooling, not collapsing. For the Federal Reserve, that's an important signal. As long as layoffs remain contained, policymakers can stay focused on inflation instead of rushing to support the economy. Jobless claims remain one of the strongest pieces of evidence that the U.S. economy is slowing—but not yet heading into an imminent recession. Source: YCC Macro [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![🚨 The labor market still refuses to crack.\*](https://blog.syzgroup.com/hubfs/5-Jul-10-2026-02-34-15-3205-PM.jpg) ![🚨 The labor market still refuses to crack.\*](https://blog.syzgroup.com/hubfs/5-Jul-10-2026-02-34-15-3205-PM.jpg) 10 Jul 2026 - - - #### To put things into perspective: The Nasdaq 100 is currently trading at ~23x NTM P/E which is broadly inline with its 10y average multiple and towards the lower end of its 3-4y range, Goldman says, Source: HolgerZ, Bloomberg [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![To put things into perspective: The Nasdaq 100 is currently trading at ~23x NTM P/E](https://blog.syzgroup.com/hubfs/4-Jul-10-2026-02-33-04-1198-PM.jpg) ![To put things into perspective: The Nasdaq 100 is currently trading at ~23x NTM P/E](https://blog.syzgroup.com/hubfs/4-Jul-10-2026-02-33-04-1198-PM.jpg) 10 Jul 2026 - - - #### Buffett never caught a 100x. His whole 60 year record averages 19.9% a year. The most boring number on this chart built on of the richest investors alive. Source: Rand Group [#Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) ![Buffett never caught a 100x.](https://blog.syzgroup.com/hubfs/3-Jul-10-2026-02-32-08-6675-PM.jpg) ![Buffett never caught a 100x.](https://blog.syzgroup.com/hubfs/3-Jul-10-2026-02-32-08-6675-PM.jpg) 10 Jul 2026 - - - #### Of the 20 top performing stocks in the first half (nearly all tech), only two are up so far in Q3, and the average QTD decline is 17%. Source: Bespoke @bespokeinvest [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Of the 20 top performing stocks in the first half (nearly all tech), only two are up so far in Q3, and the average QTD decline is 17%.](https://blog.syzgroup.com/hubfs/2-Jul-10-2026-02-31-26-0578-PM.jpg) ![Of the 20 top performing stocks in the first half (nearly all tech), only two are up so far in Q3, and the average QTD decline is 17%.](https://blog.syzgroup.com/hubfs/2-Jul-10-2026-02-31-26-0578-PM.jpg) 10 Jul 2026 - - - #### Someone just filed for a Nasdaq 100 and S&P 500 that owns everyone EXCEPT Elon Musk owned companies. Source: Evan on X [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Someone just filed for a Nasdaq 100 and S&P 500 that owns everyone EXCEPT Elon Musk owned companies.](https://blog.syzgroup.com/hubfs/1-Jul-10-2026-02-30-12-7732-PM.jpg) ![Someone just filed for a Nasdaq 100 and S&P 500 that owns everyone EXCEPT Elon Musk owned companies.](https://blog.syzgroup.com/hubfs/1-Jul-10-2026-02-30-12-7732-PM.jpg) 9 Jul 2026 - - - #### U.S. Strategic Petroleum Reserve (SPR) stocks fall to 43-year low Source: Hedgeye [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![U.S. Strategic Petroleum Reserve (SPR) stocks fall to 43-year low](https://blog.syzgroup.com/hubfs/9-Jul-09-2026-03-43-06-7425-PM.jpg) ![U.S. Strategic Petroleum Reserve (SPR) stocks fall to 43-year low](https://blog.syzgroup.com/hubfs/9-Jul-09-2026-03-43-06-7425-PM.jpg) 9 Jul 2026 - - - #### "A generational transfer in free cash flow is taking place" \- BofA Source: zerohedge [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![](https://blog.syzgroup.com/hubfs/8-Jul-09-2026-03-41-47-9140-PM.jpg) ![](https://blog.syzgroup.com/hubfs/8-Jul-09-2026-03-41-47-9140-PM.jpg) 9 Jul 2026 - - - #### As somewhat of a rarity this decade, small caps (Russell 2000) are outperforming large caps (S&P 500) so far in 2026. If sustained to the end of the year, it would end 5-years of consecutive annual outperformance by large caps. Source: Koyfin [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![As somewhat of a rarity this decade, small caps (Russell 2000) are outperforming large caps (S&P 500) so far in 2026.](https://blog.syzgroup.com/hubfs/7-Jul-09-2026-03-40-53-0222-PM.jpg) ![As somewhat of a rarity this decade, small caps (Russell 2000) are outperforming large caps (S&P 500) so far in 2026.](https://blog.syzgroup.com/hubfs/7-Jul-09-2026-03-40-53-0222-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/page/70) [69](https://blog.syzgroup.com/syz-the-moment/page/69) [70](https://blog.syzgroup.com/syz-the-moment/page/70) [71](https://blog.syzgroup.com/syz-the-moment/page/71) [72](https://blog.syzgroup.com/syz-the-moment/page/72) [73](https://blog.syzgroup.com/syz-the-moment/page/73) [❯](https://blog.syzgroup.com/syz-the-moment/page/72) [❯❯](https://blog.syzgroup.com/syz-the-moment/page/1225?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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