U.S. Home prices hit record high of $426,900!
Source: Barchart
BREAKING: Donald Trump announces that he will create a US government Bitcoin strategic reserve if elected president.
This would be a stockpile of Bitcoin similar to the Strategic Petroleum Reserve. Former U.S. President Donald Trump promised to build a “strategic Bitcoin stockpile” for the United States at the Bitcoin 2024 conference in Nashville on Saturday. The Republican presidential candidate's keynote address followed a week of growing rumors and reports on the matter with a relatively vague announcement to the packed room of Bitcoiners. "As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future,” Trump said. “I hope you do well.” Source: Decrypt Activate to view larger image,
In the US, if your income and net wealth has not increased by 25% since 2020 you are poorer now than four years ago...
Source: Michel A.Arouet
Under the surface, the US equity market looks stronger than before...
This might be counterintuitive to many investors who got hurt this week on their large-cap growth positions, the market looks actually healthier than it was a few weeks ago...As highlighted by the great J-C Parets, there are plenty of new all-time highs everywhere: DJ Industrial average, S&P 500 equal-weight, Mid-cap 400, etc. A mentioned by J-C Parets, we just saw the most amount of stocks on the NYSE above their 200 day moving average that we've seen this entire bull market. We also saw the most amount of stocks on the NYSE and the Nasdaq hitting new 52-week highs that we've seen this whole bull market. You can go sector by sector and you'll see. Source: J-C Parets
Expect a pickup in volatility as we head towards elections.
History shows us that market volatility tends to increase ahead of election day, and then subside afterwards, regardless of who is in power. This could be in part because some uncertainty is lifted after the election is over, and markets can again focus on opportunities ahead. Source: Edward Jones
Easing US inflation in June👏
✅Headline PCE prices: 0.1% m/m ✅Core PCE prices: +0.2% m/m 🎯Moving toward Fed's 2% target: ⤵️Headline inflation -0.1pt to 2.5% yoy, IN-LINE with expectations. This is the lowest level since February '21 and down from 7.2% two years ago... ↔️Core inflation is flat at 2.6% yoy, at the lowest level since March '21. This is slightly above expectations (2.5%), which is not such a big surprise as PCE data from yesterday's GDP report revealed a similar picture. Source: Gregory Daco, BEA, EY-Parthenon
🚨 Breaking! US GDP growth surpasses expectations, hitting 2.8% (est. 2.0%, prev. 1.4%).
GDP Annualized QoQ Contribution: Consumption 1.57 pp (prev. 0.98 pp) Government Spending 0.53 pp (prev. 0.31 pp) Investment 1.46 pp (prev. 0.77 pp) Exports 0.22 pp (prev. 0.17 pp) Imports -0.93 pp (prev. -0.82 pp) Source: MacroMicro
CTAs will dump stocks over the next week in EVERY SINGLE SCENARIO warns Goldman Sachs.
If the market trades lower, CTAs are projected to sell more than $7 billion worth of equities.
