FREIGHT RATES ARE RISING AGAIN
"No news (out of Gaza) is bad news for Shipping-flation Freight rates out of China are rising rapidly again and we are likely to see the pass-through to goods-flation in the West already in May/June". Source: Andreas Steno Larsen
We've seen a pretty big move in Presidential betting odds over the last week
Trump now holds a 6.3 point lead on Biden and Republicans are now on top in the generic head to head. From @maximlott at https://lnkd.in/dT6EHQvp thru bespoke
A new set of polls reveals that Donald Trump is leading President Biden in five out of six critical battleground states
as young and non-white voters grow increasingly dissatisfied with the current president. Source: www.zerohedge.com, FoxNews
Sell in May and go away? Not in election years…
History shows that the mid-May to mid-June seasonal period is very strong during election years. Source: David Marlin, Goldman Sachs
The Suez Canal ship transit volume has deteriorated further.
Source: The Daily Shot
The chart below shared by Yahoo Finance newsletters thru Ryan Detrick, CMT shows that big starts to an election year (like '24) tend to see chop and weakness into June.
https://lnkd.in/eANaDtsN
Big Election Year Q1s Dip April-May Before Gains Last 7 Months.
2024 is 3rd best Election Q1 since 1950 tracking. Historically, there is a dip in April-May before gains till year-ned. There was only 2 losses in the last 7 months of election years since 1950 (2000 & 2008) Source: Ryan Detrick, CMT, AlmanacTrader
U.S. President Joe Biden reportedly intervened to prevent Israeli Prime Minister Benjamin Netanyahu from authorizing an immediate retaliatory strike against Iran
Following Iran's launch of approximately 300 attack drones and missiles at Israel. The New York Times reveals that despite support from some members of Israel's war cabinet for a response attack, the limited damage caused by Iran and Netanyahu's conversation with Biden resulted in the strike being called off. Source: i24 News
