Property foreclosure filings have been increasing recently
This is the result of high interest rates resulting in rising mortgage defaults. Source: Game of Trades
President Joe Biden and China’s President Xi Jinping have their first in-person meeting in about a year
This is the first time since 2017 that Xi has stepped foot on American soil. Although the US-China relationship is breaking, experts and U.S. officials caution not to expect markedly improved relations post-meeting. Mrs Yellen might be rather in favor of some kind of cooperation... Source image: Michel A.Arouet
Yesterday was the best market breadth day in the US since the Covid-19 stress exit...
Source: Lawrence McDonald, Bloomberg
Fund flows continue to move to the US at the expense of the rest of the world
Source: Michael A. Arouet, Goldman Sachs
US CPI has moved down from a peak of 9.1% in June 2022 to 3.2% today
What's driving that decline? Lower rates of inflation in Fuel Oil, Gas Utilities, Used Cars, Gasoline, Medical Care, New Cars, Food at Home, Electricity, Apparel, and Food away from Home. Shelter and Transportation are the only major components that have a higher inflation rate today than June 2022. Source: Charlie Bilello
Has there been a better pairs trade than long US, short world... ever?
This relationship has generated steady alpha for a decade and a half now. Growth over value and large over small have also been excellent long / short pairs. Source: Steven Strazza
When the book on 2023 closes, extreme sector divergence will surely be considered one of the major plot points
Technology and Communication Services are each up more than 40% YTD, while five of eleven sectors are in the red on the year. Source: Bespoke
US median home prices are contracting aggressively. In just 2 years, the % has gone from over 20% to -7.9%. This is THE sharpest collapse on record
Current levels have occurred ONLY 2 times in the last 60 years: 1. 1970 2. 2008 Both instances ended with equities declining more than 30%. Source: Game of Trades
