Syz the moment

Source: J.P.Morgan Asset Management

These #charts by Bank of America show that every single episode of a local peak in UST 2yr yield was followed by some risk-negative event over the past 40 years. Such episodes ranged from mild (Mexican peso crisis in Dec 1995; HY +95bp) to moderate (Asia FX crisis in Oct 1997; HY +350bp ) to severe (GFC; HY all-time wides). The lag between the peak in 2yr yield and subsequent event varies from just a couple of weeks to just over a year, with an average being 7 months. Source: BofA, www.zerohedge.com

Nasdaq has announced a "special rebalance" for the Nasdaq 100 to address the overconcentration and weight that the biggest tech companies have on the index. This is the first ever "special rebalance" carried out by the overseer of the index. Source: Bloomberg

Instagram’s "Threads" surpasses 100 million users. It just became the fastest company to attract 1 million users of any company EVER (including #ChatGPT). Source: Statista

The United States is the country with the most of wealth in the world. In fact, seven countries account for 69% of the world's wealth. These seven countries are the United States, China, Japan, Germany, the United Kingdom, France, and India. Source: Genuine Impact

Manufacturing Construction Spending in the US continues to hit new highs, increasing 76% over the last year - Source: Charlie Bilello 'Commerce Department figures show that spending on manufacturing structures came to nearly 0.5% of gross domestic product—the most since 1991. In the second quarter, that GDP share looks destined to be higher. Chalk it up to the CHIPS and Science Act and the Inflation Reduction Act, both passed in August last year.' - WSJ

The biggest hedge fund in the world says ChatGPT was able to pass its investment associate test and it's like 'having millions of them at once' Source: Business insider

As we enter us q2 earnings season, market expectations seem quite low Source: Bloomberg