4 Aug 2023
Bonds and equities re-correlate...The recent acceleration in yields appears to have had an effect on long-duration risk-assets...
Source: Bloomberg, www.zerohedge.com
4 Aug 2023
Amazon reported second-quarter earnings on Thursday that sailed past analysts’ estimates and issued guidance that points to accelerating revenue growth
The stock rose more than 10% in extended trading. AMZN Amazon Q2 FY23: • Revenue +11% Y/Y to $134.3B ($3B beat). • Operating margin 6% (+3pp Y/Y). • FCF $7.9B TTM. • EPS $0.65. AWS: • Revenue +12% Y/Y to $22.1B. • Operating margin 24% (-4pp Y/Y). Q3 FY23 Guidance: • Revenue ~$140B ($2B beat). Source: App Economy Insights, CNBC
3 Aug 2023
“.. when the S&P 500 is +10% or better YTD at the July-end mark.”
Source: Carl Quintanilla, Bloomberg
3 Aug 2023
Robinhood now makes much more collecting interest on client cash than from its core business.
This is $234 million that RH's customers should be collecting but they are currently handling to the Trading App. Source: www.zerohedge.com, Robinhood
3 Aug 2023
Do US cyclical equities look vulnerable given the extent of growth optimism currently priced in vs. the weakness of ISM manufacturing?
Source chart: Goldman
3 Aug 2023
Treasuries haven’t been this ineffective as a stock hedge since the 1990s. The one-month correlation between the two assets is now at its highest reading since 1996
Source: Lisa Abramowicz, Bloomberg
2 Aug 2023
Global Manufacturing PMIs and Global stocks seem to be in disagreement...
Source: Bloomberg, www.zerohedge.com
2 Aug 2023
It's now been 40 days since the SP500 had a down 1% day...
Source: Bloomberg, www.zerohedge.com
