It's now been 40 days since the SP500 had a down 1% day...
Source: Bloomberg, www.zerohedge.com
The US saw a total of 340 bankruptcies in the first 6 months of 2023.
This is more than the first half of 2020 when the US went into a full lockdown. It’s the highest number of first half bankruptcies since 2010. Businesses are feeling the pain of higher interest rates. Source: The Kobeissi Letter
Debt Tsunami Begins: US To Sell $1 Trillion In Debt This Quarter, 2nd Highest In History, As Budget Deficit Explod
The $1.007 trillion in upcoming marketable borrowing is the second highest on record; only the $2.753 trillion in Q2 2020 surpasses it. Source: www.zerohedge.com, US Treasury
The Citi US Economic Surprise Index is at the highest levels since early 2021.
Source: Bloomberg
US housing -> Lots of US Homeowners Want to Move. They Just Have Nowhere to Go
Locked into cheaper borrowing costs and unable to find a new place that fits their budgets, countless people are opting to remain in their current homes, adding to an acute shortage of available properties Source: Bloomberg
The top 10 stocks in the S&P 500 now account for a record 31% of the ENTIRE index
Just 8 years ago, the top 10 stocks accounted for 17% of the index. A few stocks continue to drive the entire market. Source: The Kobeissi Letter
Bonds are looking the most attractive vs stocks in decades, according to one metric
The gap between the earnings yield of the S&P 500 and the yield on the 10-year Treasuries dropped to around 1.1 percentage point last week, its narrowest since 2002. Source: Lisa Abramowicz
August SP500 seasonality
Source: Bloomberg
