What a day...
The US 10-year note yield fell sharply to 4.49%, after CPI inflation hits 3.2% in October. The 10-year note yield went down 20 basis points in 24 hours. Meanwhile, the U.S. Dollar Index $DXY had its biggest drop in more than a year. Source: The Kobeissi Letter, Barchart
Fund flows continue to move to the US at the expense of the rest of the world
Source: Michael A. Arouet, Goldman Sachs
It looks like the bears are throwing the towel...
Burry's bet against America..
JUST IN: Futures now show a 0% chance of additional rate hikes with rate cuts beginning in May 2024
Prior to today's CPI report, there was a 30% chance of at least one more rate hike ahead. Rate cuts were expected to begin in June 2024. Now, markets are pricing-in at least 4 rate CUTS in 2024. Markets are betting that the Fed is done. Source: The Kobeissi Letter
The Shanghai Cooperation Organization (SCO) is a Eurasian entity uniting political, economic and security interests
It serves as a counterweight to Western influence in the region. Source: Visual Capitalist
What kills bull markets
Nice visual by @safalniveshak thru Brian Feroldi
Dividend stocks have been horrendous in 2023
The 100 highest yielding stocks in the S&P had an average total return of -7.94% through last Friday compared to an average gain of 8.94% for the 100 (exactly) stocks in the index that pay no dividend. Source: Bespoke
Looks like it will be one of the most crowded trades to come
61% of Fund Managers from BofA Fund Manager survey expect lower bond yields, most on record, despite 2nd highest ever saying fiscal policy is too stimulative. Source: BofA, HolgerZ
