Straight from the Desk

Syz the moment

Live feeds, charts, breaking stories, all day long.

30 Jan 2024

As a reminder. The bank never goes bankrupt and G7 countries will NOT default on their claims. Adjustment takes place through money debasement

There are 3 ways to invest at a time of FIAT currency: 1/ Spend 2/ Invest in risk assets 3/ Invest in store of values

18 Jan 2024

🟥 The delinquency rate for credit card loans in 2023 has risen sharply

Which, based on historical patterns, suggests that the economy might be heading towards a recession.

15 Jan 2024

$JPM JP Morgan Chase Q4 FY23.

CEO Jamie Dimon: Deficit spending and supply chain adjustments “may lead inflation to be stickier and rates to be higher than markets expect." • Net revenue +12% Y/Y to $38.6B ($1.2B miss). • Net Income $9.3B. • Non-GAAP EPS: $3.97 ($0.37 beat). • CET1 ratio of 15.0%. • Expect FY24 NII of $90B (+1% Y/Y).

22 Dec 2023

Bank credit is contracting sharply

This has only happened ONCE in the last 50 years. Source: Game of Trades

8 Dec 2023

The average credit card interest rate right now has risen to 27.81%

And that's with U.S. credit card debt hitting new record highs north of $1,000,000,000,000 Source: Hedgeye

1 Dec 2023

Is the US banking crisis really over?

Unrealized losses on investment securities held by US banks hit $684 billion in Q3, according to the FDIC. This marks a 22.5% jump compared to unrealized losses seen last year. The jump was primarily driven by rising mortgages rates reducing the value of mortgage-backed securities held by banks. Despite these challenges, the FDIC states that banks remain "well capitalized." This comes as usage of the Fed's emergency funding facility for banks hit another record high of $114 billion. Source: The Kobeissi Letter

28 Nov 2023

As highlighted by The Kobeissi Letter >>> Buy Now Pay Later spending soars 20% compared to last year on Black Friday

It's also expected to jump 19% on Cyber Monday to a record $782 million. As excess savings in the US have gone from $2 trillion to zero, Americans are relying on debt more than ever. In other words, "deals" that are 20% off are being financed with credit card debt that has a 30% interest rate...

27 Nov 2023

Hong Kong local bank rate (HIBOR) jumped to its highest level in 16 years

Source: Barchart, Bloomberg

Thinking out loud

Sign up for our weekly email highlighting the most popular posts.

Follow us

Thinking out loud

Investing with intelligence

Our latest research, commentary and market outlooks