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Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
TODAY IS BLACK FRIDAY... Black Friday falls on the fourth Friday of November each year, with Cyber Monday following just three days later. The two shopping days are some of the busiest of the year in the United States, with an estimated $19.6 billion raked in over the 2021 Thanksgiving weekend in e-commerce revenue alone. U.S. shoppers keen to make the most of discounted prices were asked in a Statista survey which items they were planning on buying. As the following chart shows, clothing, electronics and shoes are among the most popular choices this year. In terms of other shopping behaviors, the same survey found that where 41 percent of U.S. respondents said they would be shopping via online stores, 28 percent were undecided and 25 percent planned on heading to brick-and-mortar shops. Source: Statista
That country now represents 15% of total sales, up from 9% last year. Chinese sanction evasion for higher powered chips? Source: Jaguar Analytics
Sales actually fell 4.1% MoM (far worse than expected and down for the 20th time in the last 23 months) with September's 2.0% MoM decline revised even lower to -2.2% MoM. That decline left existing home sales down 14.6% YoY... Fewer US existing homes are selling today than at any point since 2010. The 3.79 million annual rate is even below the lowest level of sales during the 2020 covid shutdowns (4.01 million). The chart below by Francois Trahan puts things in greater perspective and shows that when adjusting for population, this is one of the worse housing profiles we have seen in decades. On this "per household" basis October existing home sales data was worse than the lowest reading seen at the depths of the GFC. Source: François Trahan
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