BIGGER THAN GOLD: WHEN INNOVATION OUTVALUES THE WORLD’S MOST HISTORIC STORE OF WEALTH
Source: Investorsight
Massive sell-off in Asian Markets this morning (and Korea market was closed)
Over $970 billion has been wiped out from Asian stock markets today. 🇯🇵 Japan: $350B erased (51 trillion yen) 🇨🇳 China: $360B erased (¥2.6 trillion yuan) 🇭🇰 Hong Kong: $110B erased (HK$860 billion) 🇹🇼 Taiwan: $140B erased (NT$4.1 trillion) 🇦🇺 Australia: $10B erased (A$15 billion) Nearly $1 trillion has been wiped out across Asia in a single trading session. Source: Crypto Rover
SPACEX HAS JUST CALLED OFF IT’S MAJOR TEST MISSION OF STARSHIP ROCKET AT THE LAST MOMENT
$SPCX Source: Gurgavin on X
Semiconductor Stocks
Semis have entered a technical correction and are on the verge of a bear market after falling 16% from June's all-time high Source: Barchart
Total Margin Debt has increased by more than 40% over the last 12 months
A level only seen at prior market tops, including the Dot Com Bubble and the Global Financial Crisis Source: Barchart, CNBC
Oracle's credit risk soared earlier this year to its highest level since the Dot Com Bubble
Source. zerohedge, Barchart
Cheapest bubble to burst ever?
If Korea's equity market was in a bubble this year and if that bubble had in fact just burst, would be the cheapest bubble to burst ever.. went from 8x earnings to 5x earnings now. Source: David Ingles @DavidInglesTV
For the first time since 1998, primary dealers are net short corporate bonds.
They've sold more credit exposure than they actually own—a dramatic shift from holding an average $16B of inventory in 2017. Most of the short position is in longer-dated bonds, where rising yields hurt the most. With credit spreads near multi-decade lows, the reward for taking that risk is minimal. If yields keep rising, dealers look well positioned. But if bonds rally, they could be forced to cover into a market with limited supply, accelerating the move. One thing history shows: credit markets often crack—or recover—before equities do. Source: Bull Theory
