In case you missed it: technology hit a new all-time relative high
And this is on an equally-weighted basis. So it is not just 7 stocks... Source: J-C Parets
In a study of the educational backgrounds of 52 famous tech CEOs and founders, it was found that 10 out of the 52 either dropped out or were expelled like Bill Gates
By Genuine Impact
U.S. Treasuries have reached one of the most oversold levels in the last 36 years
This has typically foreshadowed events such as the October 1987 crash, the Dotcom Bubble, and the Nasdaq surge (Oct 2022) Source: Barchart, BofA
According to SWIFT, the U.S. Dollar was used for 46% of all international payment transactions in July, a RECORD high
Meanwhile, use of Euro is collapsing. De-euroization rather than de-dollarization? Source chart: Bloomberg
Chart by Tavi Costa -> Ammonia prices just had the steepest monthly increase on record.
Commodity cycles typically follow a rotational pattern, and these price spikes are not isolated incidents.Oil recently rallied, gasoline prices increased, natural gas started to rise, and now ammonia looks to be initiating its move. This is an inflationary era and an unmistakable one. Source: Tavi Costa, Bloomberg
The longest duration bond ETF ($ZROZ) is down over 60% from its peak in 2020 and now has a negative return over the last 10 years. Bond ETF Returns...
Source: Charlie Bilello
BREAKING: Average interest rate on a 30-year mortgage rises to 7.93%, its highest since July 2000
Since January 2021, less than 3 years ago, interest rates have gone from 2.65% to 7.93%. This means that homebuyers just 3 years ago would see their interest rate TRIPLE if they decided to move. This is exactly why existing home sales are at their lowest since 2010. The average new home is about to cost LESS than the average existing home for the first time since 2005. You know something is wrong when old costs more than new. Why sell if your mortgage rate triples? From The Kobeissi Letter
The drawdown for the long-term Treasury ETF $TLT is now more extreme that the S&P’s drawdown during the Dot Com Crash:
Source: Bespoke
