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
To the moon!!! US Treasury boosts April-June borrowing estimates to $243b from $202b.
US reiterates a cash-balance estimate of $750bn for the end of June. US Treasury cites lower cash receipts for bigger borrowing estimates. No Mrs Yellen, this is not virtual reality... (picture stollen to Jim Bianco)
Here's the most shocking part of Q1 us GDP numbers...
Source: www.zerohedge.com
Where did all the stocks go?
Since the late 1990s, the number of US publicly traded companies has plunged from just over 8K in 1996 to about 4.6K in 2022. (It’s bounced back a bit more recently.) Source: Quartr
