The importance of Nvidia and Tesla for the US equities market
Source: Mac10
US commercial real estate prices prices are down sharply this year with offices building prices down ~30%
On top of declining prices, there are nearly $1.4 TRILLION of commercial real estate loans coming due by 2025. Meanwhile, rates on the commercial real estate loans have more than doubled since they were issued. Last but not least, vacancies in commercial real estate are skyrocketing (which means rent revenue is down). The coktail of rising rates on loans that need to be refinanced and declining income looks like a rather toxic one. Source: The Kobeisi Letter
The last time 10Y yields were this far above $SPX dividend yields was September 2007, the month stocks peaked
Source: zerohedge
Rice likely to get even more expensive as India imposes additional restrictions
India further tightens rice exports as the government sets a floor price of $1,200 per tonne for basmati rice exports. India also imposes a 20% tax on rice sales abroad. Rice is a staple food for half the world. Source: Barchart, Bloomberg
Zillow expects U.S. home prices to jump by 6.5% over the next 12 months
Source: Barchart, Fortune
The US and China are the ones investing massively in innovation and the future
Europe is lagging and prefer first to debate about regulating AI. Thsi could have serious consequences in terms of competitivity, productivity and economic growth. Source: Standard Chartered, Michael A.Arouet
As Torsten Slok from Apollo posted this weekend, a US corporate default cycle has started the markets are not paying attention
Source: Vignesh Vijayakumar
The U.S. has accumulated as much debt in the last 10 years as in the entire 100 years before that
From 1923 - 2013: $16 trillion , From 2013 - 2023: $16 trillion Source: FRED
