US Stock Market Capitalization as % of GDP...
1984: 42% 1994: 63% 2004: 93% 2014: 114% 2024: 187% Source: Charlie Bilello
The cost of buying a home in the US rises to $2,750/month, the second highest ever recorded, according to Reventure.
Prior to the pandemic in 2022, the average home in the US would cost $1,400/month. In other words, it is now 100% MORE expensive to buy a home in 2024 compared to 2020. Even at the peak of the 2008 Financial Crisis, the average home payment peaked at $1,550/month. The average US family would need to spend 44% of their PRE-TAX income to buy a home today. Source: The Kobeissi Letter, re.venture
US earnings season UPDATE: 1Q earnings reported so far are +7.0% above expectations. (Clone)
Source: Mike Zaccardi, BofA
US earnings season UPDATE: 1Q earnings reported so far are +7.0% above expectations.
Source: Mike Zaccardi, BofA
US vs. Europe: equity returns were very much similar before 2009...
Source: FT
US vs. Europe in one chart
Source: Michel A.Arouet
US job openings dropped in March to the lowest level in 3 years.
US available vacancies declined to 8.49 million from 8.81 million in February, hitting the lowest level since March 2021. Job openings have been declining for the past 2 years since the March 2022 peak of 12 million vacancies. Meanwhile, the quits rate has fallen to 2.1%, the lowest since August 2020. This suggests that many currently employed individuals are either losing confidence and/or are more dependent on their jobs. All eyes are on Friday's jobs report. Source: The Kobeissi Letter
US earnings season update >>>
Double beats are being rewarded by less than the historical average while double misses are being punished by more than usual. Source: BofA
