Jamie Dimon is warning about “people doing dumb things,” while Boaz Weinstein believes private credit is still in the very early innings of the wheels starting to come off.
Few areas feel more topical right now than software-backed loans. If anything, it looks like we’re still about two years away from the real surge in extend and pretend activity. Source: RBC, Bloomberg
It seems investors believe in the reflation story.
Source: Goldman Sachs, EPFR
Coca-Cola ($KO) now has a higher P/E multiple than Microsoft $MSFT
Source: Stock Unlock
Credit card stocks down big based on Citrini Research says AI agents will eventually transact on Stablecoin payment rails and bypass interchange.
Visa -4.4% Mastercard -6.3% American Express -7.9% Capital One -8.0% Source: Bearly AI @bearlyai
The Fwd P/E of the Tech sector is now at PAR with Consumer Staples.
In other words, the market is now valuing Tech at the same multiple as boring/slow growth Staples companies. That has only happened 3 times in the last 7 years: COVID, the 2022 Bear Market, and Liberation Day. Source: David Marlin
Looking for some squeeze opportunities?
Here are the highest short interest stocks with a market cap of more than $25 billion. Top five are $MSTR, $CHTR, $CRWV, $CVOIN and $KMB Source: Markets & Mayhem @Mayhem4Markets Goldman Sachs
2026 has so far seen the second strongest relative performance for equal weight versus cap weight since 1990
Source: Bespoke
how corporates are shifting their uses of cash.
The biggest standout here is that funds are not being returned to shareholders as before, i.e., dividends and buybacks have certainly taken a hit. Source: Goldman Sachs, Ayesha Tariq, CFA @AyeshaTariq
