Another damming poll for Biden: With 8 mths left until Nov election, Joe Biden’s 43% support lags behind Donald Trump’s 48% in the national survey of registered voters
The share of voters who strongly disapprove of President Biden’s handling of his job has reached 47%, higher than at any point in his presidency. The betting markets are now also backing Trump. PredictIt has him 6%-pts ahead. Source: Bloomberg, HolgerZ
Japan's Nikkei smashes 40,000 barrier as Asia markets track Wall Street gains
Source: HolgerZ, Bloomberg
Communication
Source: Seek Wiser
Inflows to crypto funds
The recent approval of bitcoin ETFs, which has enabled record crypto fund inflows, to the tune of $7.7 billion already which blows all of 2021's $5.2 billion inflows (the year when bitcoin hit its previous all time high) away, which also means that the current explosion in crypto is taking place with far less leverage. Annualize that, and you get a shocking number. Source: BofA
Bears right now
(picture courtesy of Barchart)
Total Put/Call Ratio drops to 0.74, the lowest level since December 28, 2021 👀 Retail continues to YOLO calls
Source: barchart
High global cost of capital hurts weak global balance sheets
Pakistan, Nigeria, Ethiopia, Egypt, DRC, Iran, Türkiye, Argentina account for 12% of world population (>1bn people) and they are all hit by inflation rates >30% (Argentina 250%, Türkiye 60%, DRC 50%), interest rates >20% & pressure of currencies. Source: BofA
Compounding doesn't rely on earning big returns
Merely good returns sustained uninterrupted for the longest period especially in times of chaos and havoc-will always win Source: Investment books (Dhaval)
