BCA finds that a surge in IPO activity is historically associated with weaker forward S&P 500 returns and less multiple expansion.
Source: BCA Research
The Bank of Japan is set to HIKE RATES next week:
49 of 51 economists surveyed by Bloomberg expect the BOJ to raise its key interest rate by +25 basis points to 1.0% at its June 15-16 policy meeting. This would mark the highest level since 1995 and the first time above 1.0% in more than 3 decades. The same survey shows economists expecting a further hike to 1.25% by year-end, implying 2 rate increases in 2026 alone, with ~71% expecting hikes roughly once every 6 months. This comes as the Iran war-driven energy shock has pushed Japanese inflation risks higher, with 60% of survey respondents flagging a rising risk of the BOJ falling behind the curve in fighting inflation. The BOJ's decision on its government bond purchase reduction program will also be closely watched, with the majority of analysts expecting the central bank to slow or pause its tapering from April 2027. The Bank of Japan is gradually closing the gap with other major central banks. Source: Global Markets Investor, Bloomberg
Who owns Anthropic
Stocks World @anandchokshi19
What a day for semiconductors
Source: Finviz
Yesterday was a "TACO-Thursday", with Trump's rhetoric intraday-flipping from 'blowing the sh*t out of Iran' to a 'no strikes
Deal pretty much wrapped up' sparking a plunge in oil (ignoring denials), spike in stocks, and big drop in yields (shrugging off hot headline PPI and ECB rate-hikes). CNN reports that this is the 38th time that President Trump has declared a peace deal is imminent... Source: zerohedge
The SuperCore PPI (i.e., no food, energy or trade) has been accelerating for 11 months.
Source: Bernstein Advisors
"The relationship between what the US government's debt is doing and stock prices has flipped in a big way. In fact, this is the most extreme yields-stocks relationship this entire market cycle."
Source: Daily Chartbook
South Korea’s KOSPI just exploded almost +8%, making it one of the biggest rallies in the index’s history.
Over ₩600,000,000,000,000 ($400+ BILLION) was added to South Korea's stock market on hopes for an end to the Middle East conflict. A buy-side sidecar was triggered shortly after the market opened. Source: Bull Theory
