The Buffett Indicator (total value of all publicly-traded stocks/GDP) is near all-time highs and at a significantly higher level than during the Dot Com Bubble and the Global Financial Crisis.
Source: Macro Micro, Charlie Bilello
The US Money Supply decreased by 2% in 2023, the largest annual decline on record with data going back to 1959
This was the second straight annual decline which followed the record 40% expansion in the money supply in 2020-21. Source: Charlie Bilello
SGS breakout ?
SGS (SGSN SW) is up 6%, trying to breakout March 2022 downtrend ! Recent double bottom without any close below 72.06 is very positive news. Trend long term remains bullish. Keep an eye at it. Source : Bloomberg
European natural gas prices have fallen massively from 2022 levels, so why is German manufacturing doing so badly?
Because - even with all the declines since 2022 - naturalgas prices are over 60% ABOVE their historical averages. That's a huge adverse energy shock hitting Europe. Source: Robin Brooks
The Nasdaq 100:
- if you bought at the December 2022 low, you are up 64% - if you bought at the 2021 high. you are up 5%. - if you bought at March 2020 lows, you are up 150% Source: Bespoke, TME
Smart money is extremely bearish
Source: Game of Trades
Average 3-month ATM implied volatility (max/min range since 2008)
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'The Nasdaq 100 valuation has disconnected from real rates.'
Source: The Daily Shot, Win Smart
