Straight from the Desk
Syz the moment
Live feeds, charts, breaking stories, all day long.
- All
- us
- Food for Thoughts
- equities
- Bonds
- technical analysis
- bitcoin
- sp500
- Stocks
- inflation
- China
- macro
- Federal Reserve
- Crypto
- investing
- ETF
- Central banks
- performance
- AI
- gold
- earnings
- Rate
- Real Estate
- markets
- Commodities
- debt
- Treasury
- tech
- yield
- nvidia
- Germany
- Japan
- europe
- bank
- nasdaq
- oil
- fed
- cpi
- warren-buffett
- Forex
- apple
- useful
- interest
- humor
- interest-rates
- market cap
- dollar
- energy
- returns
- GDP
- quotes
- hedge fund
- geopolitics
- magnificent-7
- valuations
- asset
- ECB
- finance
- BOJ
- crudeoil
- india
- sentiment
- Swiss
- highyield
- Volatility
- economy
- options
- recession
- semiconductor
- vix
- growth
- mortgage
- Money Market
- cash
- Positioning
- charts
- exports
- trading
- bubble
- ipo
- tesla
- ESG
- deficit
- price
- sales
- EM
- UK
- assetmanagement
- bearish
- wages
- EV
- Flows
- credit-card
- russia
- saudiarabia
- spending
- Turkey
- cocoa
- futures
- index
- meta
- revenue
- watches
- yen
- EUR
- bankruptcy
- chart
- consumers
- profit
- supply
- unemployment
- Brazil
- Election
- amazon
- car
- copper
- credit-rating
- cryptocurrencies
- currencies
- seasonality
- $nycb
- Asia
- FUNDS
- Renewable
- airlines
- insider
- manufacturing
- spx
- FUND
- africa
- deflation
- investmentgrade
- microsoft
- spy
- taiwan
- yuan
- Alternatives
- SMCI
- SuperBowl
- compounding
- concentration
- debt-ceiling
- france
- jobs
- lvmh
- msci
- pricing-power
- private markets
- productivity
- sec
- smallcaps
- sustainable
- switzerland
- world-economy
- Focus
- charlie-munger
- chatgpt
- dowjones
- economic surprise
- fixed income
- greed
- halvings
- income
- leadership
- liquidity
- luxury
- moneydebasement
- retirement
- russel2000
- sharebuybacks
- silver
- tax
- world
- BOE
- EM Sovereign
- Granolas
- Hong Kong
- Industrial-production
- Market Outlook
- Nikkei
- TIPS
- brics
- ceo
- corporate
- cost-of-living
- dividend
- emerging-markets
- ethereum
- fashion
- gas
- greece
- lending
- monetarypolicy
- opec
- saudiaramco
- snb
- storytelling
- trump
- unicorn
- valentine's-day
- venture capital
- vietnam
- Beware
- CTAs
- Coinbase
- Convexity
- Crypto corner
- Deindustrialization
- GlobalAgg
- Italy
- Marketing
- Nestle
- Precious-Metals
- Rally
- SoftBank
- ToyotaMotor
- UAE
- bankrupt
- behavior
- booking.com
- calls
- childbirth
- cisco
- climate
- coal
- cobalt
- cocacola
- construction
- counterparty-risk
- cta
- demographics
- design
- dragonyear
- elon musk
- eurozone
- fees
- financial-stress
- football
- golf
- hedgeye
- hungary
- imf
- intel
- international-women's-day
- job-cuts
- jpmorgan
- korea
- kpi
- lng
- marriage
Bank credit has now entered contraction territory. After witnessing one of sharpest declines on record
Since 1974, this has only happened ONCE: → The Financial Crisis. Back then, this metric reached levels as low as -5%. At the current rate, the risk of a credit event is on the rise. Source: Game of trades
Prices paid to US producers rose by more than forecast in September
The PPI for final demand advanced 0.5% from a month earlier, according to the Bureau of Labor Statistics. The cost of gasoline increased 5.4% The biggest driver of today's PPI beat: a near record surge in PPI Deposit Services. In other words high rates (and inflation) lead to higher rates (and inflation) Source: www.zerohedge.com
Looking at the September US payroll numbers through another lens
Unadjusted total payrolls rose by 585K and yet private payrolls dropped by 399K. All of the unadjusted jobs in September came from the government, which added a whopping 984K jobs (mostly teachers). What if all the mess in Washington (shutdowns, political gridlock in Congress, etc.) and rising cost of debt put a cap on the fiscal support? Where are the jobs going to come from? Source: www.zerohedge.com, Bloomberg
Is ADP the start of something big or an anomaly, knowledge_vital asks as ADP report for September saw a huge drop in new jobs to just 89k vs. 150k forecast, & down from +180k in Aug
The 89k is the softest number since Jan 2021. Large comps drove downside, they shed 83k jobs in September. Souce: HolgerZ, Bloomberg
In case you missed it...
The credit default swap (CDS) prices for the US rose sharply during the small banks crisis back in spring, and then went down as the crisis subsided quickly. These prices have been rising steadily since early summer. US CDS are now above Spain, which is considered a higher risk country from a sovereign credit risk perspective. Source: Bloomberg
Investing with intelligence
Our latest research, commentary and market outlooks