This is $1 trillion in stacks of $100s. The US currently has $36 trillion in debt.
Source: X
JUST IN - US MACRO DATA RELEASED ⚡
👉 GDP (Q3), 3.1% Vs. 2.8% Est. (prev. 2.8%) 👉Jobless Claims, 220K Vs. 230K Est. (prev. 242K) 👉PCE Prices (Q3), 1.5% Vs. 1.5% Est. (prev. 2.5%) 👉Core PCE (Q3), 2.2% Vs. 2.1% Est. (prev. 2.8%)
America's massive leverage summarized in one chart
Source: The Rabbit Hole
Visualizing $102 Trillion of Global Debt
Source: Barchart @Barchart
🔈 BANK OF JAPAN JUST MADE THEIR INTEREST RATE DECISION: THEY WILL NOT BE RAISING INTEREST RATES. This is a relief for markets 👍
🚨 If Japan hiked rates, the US Dollar would weaken against the Yen. Anyone who is short the Yen then would have to sell off US equities in order to cover their short, which could've caused a decline in stocks. Most of those stocks would have been tech stocks. It also could have caused a sell off in Bitcoin as many people have borrowed against the Yen to put money into crypto. Basically it would be another edition of the Yen Carry trade which still has trillions of dollars tied into it. 😊 On a day like today, bulls really needed Japan to NOT raise rates. USD/JPY after the decision, up 0.27% Source: @amitisinvesting
BREAKING - Trump tells NBC he'd support abolishing the debt ceiling, calling it 'the smartest thing Congress could do' and suggesting it's more psychological than practical.
President-elect Donald Trump expressed support for abolishing the debt ceiling, calling it a "meaningless concept" that Congress should eliminate entirely. Speaking to NBC News, Trump suggested that removing the debt ceiling would be the "smartest thing" lawmakers could do and offered to lead the charge if Democrats pursue it. He also criticized a recent funding deal reached by Congress, labeling it a "Democrat trap" and questioning House Speaker Mike Johnson’s leadership. Trump suggested a potential government shutdown could help set the stage for his administration, and revealed he had discussed the funding deal with Elon Musk, aligning their views on cost-related issues. Source GNF - Global News First
The economic weakness in Germany is becoming chronic.
The Ifo Business Index fell to 84.7 in December, down from 85.6 in November –its lowest level since May 2020. This is far below the long-term average of 96.6 and looks weak even compared to recent years. Since the start of the war in Ukraine, the index has averaged just 88.2. The latest drop was driven by a sharp decline in the expectations component, which fell from 87 in November to 84.4 in Dec. Analysts polled by Bloomberg had predicted a slight uptick and none saw a retreat of that scale. Source: Bloomberg, HolgerZ
Santa Powell is coming to town.
Last FOMC interest rate decision of 2024 is today at 2PM ET, followed by the usual press conference. A 25bps rate cut looks like a done deal. Key questions:1) Why is he cutting while stocks are ATH and Core CPI above 3% 43 months in a row= 2) Will it be a "hawkish cut" with significant upside revisions to growth and inflation forecasts + downward revision to the dot plot? Merry Christmas Mr Powell Source image: TrendSpider
