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
The Top Performing S&P 500 Sectors Over the Business Cycle
Source: Barchart, Markets in Minute
The median sales price of a home in the US is now 560% of the median household income.
In 2008, it was 360% of the median household income. This is the least affordable housing market in history. Source: The Kobeissi Letter
