The Economist in October 2020 (left) vs. today (right)
This week in The Economist: "Why Biden must withdraw - The president and his party portray themselves as the saviours of democracy. Their actions say otherwise"
📢 China's public spending on scientific research is now above America's
• Chinese researchers focus mostly on applied fields, whereas US still leads on basic research • Beijing has precise priorities: AI, quantum, chips, neuroscience, genetics, biotech, deep space/oceans Source: Agathe Demarais, OECD
BREAKING: Nancy Pelosi has sold her Tesla, $TSLA, position worth ~$500,000.
She has also purchased an addition $1.2 million of Nvidia, $NVDA, and $5 million of Broadcom, $AVGO. Nancy Pelosi made millions buying nvidia, $NVDA, over the last two years. It appears that she is now doubling down on semiconductors stocks. Are chip stocks setting up for favorable legislation and/or US support ⁉ Source: The Kobeissi Letter
Another new low for the Citigroup US surprises index on the back of poor macro numbers this week (ADP employment, ISM services, etc.)
Source: Bloomberg, Ronald-Peter Stoeferle, CMT, CFTe, MSTA
Bets of a Kamala Harris nomination are exploding
Source: Bloomberg
BREAKING: US consumers' average 5-10 year inflation expectations have spiked to 5.6%, the highest in 31 years.
This measure increased by ~2 percentage points in just a few months. By comparison, median inflation expectations are around 3%, in-line with the readings seen over the last 3 years. Meanwhile, CPI inflation has been above 3% for 38 consecutive months, the longest streak since the 1990s. Will inflation stay a major issue in H2 2024? Source: The Kobeissi letter, Bloomberg
Kamala Harris and Joe Biden's odds of securing the Democratic presidential nomination have converged...
Source: Bloomberg, Michael McDonough
Odds of Biden winning democratic 2024 presidential nominee are collapsing as NYT said Biden told ally he is weighing whether to continue in race
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