China on Friday announced a five-year package totaling 10 trillion yuan ($1.4 trillion) to tackle local government debt problems, while signaling more economic support would come next year.
The debt swap program, however, fell short of many investors’ expectations for more direct fiscal support. Source: Bloomberg
🚨 THE SHOCKING CHART OF THE DAY >>>
THE FEDERAL RESERVES REVERSE REPO HAS FALLEN TO $155 BILLION WHICH IS THE FIRST TIME WE SEEN THIS LEVEL SINCE MAY 2021🚨 USUALLY WHEN IT FALLS IT LOWERS YIELDS BUT INSTEAD THEY’RE MOVING UP AND 10YR YIELDS FLEW TO 4.3% LAST WEEK. It was initially used to pull money out of the economy to reduce inflation. Then it went back into economy and then into equites. What's next? Source: Mike Investing on X
China economic surprise index turns positive
Source: David Ingles, Bloomberg
🚨 There is now a 99% chance of a 25 bps interest rate cut at next week's FOMC Meeting 🚨
Source: Barchart
It doesn’t matter who becomes president. The trend is clear:
More debt creation, more money printing Source: Seek Wiser, Quinten | 048.eth
😱 US JOB MARKET IS MUCH WEAKER THAN IT SEEMS 😱
Since January 2023, the number of jobs have been revised DOWN by A MASSIVE 471,000, the most since the 2008 Financial Crisis. Monthly nonfarm payrolls have been revised DOWNWARD in 14 out of the last 21 months. Source: Global Markets Investor
Core PCE is closer to 3 than 2
And ticked UP in the last month Source: Amy Niyom
Interesting point of view by Dr. Ed Yardeni:
"28 days since the 1st rate cut and 10-Yr. yield is up nearly +60bps. The 1995 Soft Landing rate cut cycle is almost a mirror image, as it also started its descent a few days later, a potential post-election outcome". There is one big difference though: the fiscal 6 debt situation in the US now vs. 1995... Source: Seth Golden @SethCL
