Total Returns over last 3 years...
MSCI India ETF $INDA: +33% MSCI China ETF $MCHI: -41% Source: Charlie Bilello
Have you ever played Microsoft's games?
Microsoft is the world's largest gaming company, with an astonishing market capitalization of $2,441 billion. Some of Microsoft's popular games include Call of Duty and World of Warcraft. Genuine Impact
In case you missed it:
Fed Balance sheet has dropped <$8tn for 1st time since Summer 2021 on QT. Fed's total assets are now equal to 29.4% of US's GDP vs ECB's 50.9%, SNB's 111.5%, or BoJ's 125.7%. Source: Bloomberg, HolgerZ
Relative performance of prior bull market leader vs. the next bull market leader (beginning of bull market = 100)
Source: BofA, TME
In case you missed it: technology hit a new all-time relative high
And this is on an equally-weighted basis. So it is not just 7 stocks... Source: J-C Parets
Who has the losses on the books? Value of global bonds has lost another $1.04tn. This brings the total losses to $3.9tn since mid-July
Source: HolgerZ, Bloomberg
Long dated bonds: are investors in denial?
As $TLT and $ZROZ duration bond funds fell in price, their assets under management kept increasing as investors just kept pouring their funds in. Source: Lyn Alden
Plunging US Supply sends oil prices around the world soaring
>>> In recent months, the US had helped fill a void left in the market, routinely sending more than 4 million barrels every day to sate global appetite. Between overseas shipments and strong domestic demand, stockpiles quickly declined in the US. As oil stockpiles are running out in the US, they’re also running out in Europe, because it relies on US exports. As supplies collapse, cargoes of WTI Midland crude for January delivery to Asia are being offered for sale at premiums of $9 a barrel above benchmark Dubai oil, the highest premium seen this year, data compiled by Bloomberg show. In the futures market, the tightness in US supplies narrowed the gap between US crude and international benchmark Brent to under $3 a barrel, the smallest since May last year. Meanwhile, the spread between Brent and Middle East’s Dubai marker — also known as Brent-Dubai EFS — has skyrocketed (See below). Source: www.zerohedge.com
