Steack-flation...Cattle Futures have once again closed at an all-time high. Steaks are going to be getting expensive!
Source: Barchart
Jamie at Barclays conference on Monday - some key takeaways:
- JPMorgan Chase CEO Jamie Dimon said Monday that while the U.S. economy is doing well, it would be a “huge mistake” to believe that it will last for years. - Topping his concerns include central banks reining in liquidity programs via “quantitative tightening,” the Ukraine war, and governments around the world “spending like drunken sailors,” the CEO said. - “To say the consumer is strong today, meaning you are going to have a booming environment for years, is a huge mistake,” Dimon said. - JPM's Dimon doesn’t find fixed income attractive despite the rise in rates: “I would not be a buyer of Treasuries at 4.2%, nor would I be a buyer of credit spreads at these spread levels,” Dimon said at the Barclays conf. He wouldn’t be surprised to see 10yr Treasury yields at 5.5% or oil at $120-150. Source: CNBC, HolgerZ
FAT over AI: the match...
while headlines are all about artificial intelligence darling Nvidia, the weight-loss drugs champions Eli Lilly and Novo Nordisk stocks performance has been spectacular as well. Two year chart shows that $LLY is well ahead of "hot" $NVDA...and $NVO is practically "there"... Source: The Market Ear, Refinitiv
The updated FTX asset report that scares the altcoins / crypto community... A $3.4bn selling tsunami?
Source: Crypto Rower
After hitting a 16-year low against the U.S. Dollar, China's currency had its biggest gain in almost 3 weeks after the country issued a warning not to bet against its currency
Source: Barchart, FT
Cryptocurrencies were again under pressure today with bitcoin testing $25k
There are fears that altcoins face significant downside as FTX potentially seeks to dump its $3.4BN digital asset holdings. This is happening as BTC is close to a 'death cross' - 50DMA dropping below 200DMA... Source: Bloomberg, www.zerohege.com
Median US home prices are now contracting at a level only seen 2 times in the last 60 years:
- 1970 - 2008 Both ended in severe recessions Source: FRED, Game of Trades
Priceless Life Advice from Charlie Munger
Source: Investment Books (Dhaval)
