There are some interesting dynamics at play within equity leadership ... never a great sign when trucking stocks are struggling ... meanwhile, the two biggest publicly traded pawn shops are near highs. Hmmm. Happy Sunday. FT
β At the end of 2023, Bloomberg ranked me as "Top Forecaster" for:
πΊπΈ Economy π₯ (I won this title 11 times over the last 12 years)
*I got the 2nd place for πͺπΊ & π¨π³ Economies π₯
Yet long-term #Treasuries are surging in yield. Is it the strong job market or lack of confidence in the Fed to tame inflation to 2% that is driving Treasuries?
#LEI#recession#bonds
πΊπΈ *US AUG. LEADING INDICATOR FALLS 0.4% M/M; EST. -0.5% (17th straight drop) - BBG
*On a YoY basis, the index fell 7.6%.
*Usually, this level is associated with #recession.
Existing home inventory succumbs to higher mortgage rates as current homeowners to stay put. Will Home Depot and Lowe's benefit from higher spending on repairs & upgrades?
$HD #HD $LOW #LOW#housing
πΊπΈ #Housing | Existing Home Sales on Track To Reach a 13-Year Low β
*The correction is likely to continue in the coming months as existing home inventory remains depressed and demand is weakening amid high #mortgage rates and prices.
https://t.co/VnR7U7T4HP
πΊπΈ #Housing | 30-Year Fixed-Rate Mortgage Hit Highest Level Since 2000
*This situation is expected to have a significant effect on closed sales from August to October.
*This could potentially lead to existing home sales reaching a 13-year low β
https://t.co/hR2QFDNCeA
πΊπΈ #Housing | 30-Year Fixed-Rate Mortgage Hit Highest Level Since 2000
*This situation is expected to have a significant effect on closed sales from August to October.
*This could potentially lead to existing home sales reaching a 13-year low β
https://t.co/hR2QFDNCeA
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β‘οΈ General admission tickets on 20 and 23 August
β‘οΈ Hospitality packages on 18, 20 and 23 August
Buy now: https://t.co/oNj2SNwpMA
#BackingGreen βοΈπ
πΊπΈ #Dollar Bearish Bets Climb to Record High Among Asset Managers - Bloomberg
*Institutional investors raised dollar shorts by 18% last week
https://t.co/pUC8bd6GkL
$TSM, the worldβs foundry, cut CY23 rev to -10% y/y & said, in the short term, when the CapEx of the CSP are fixed, the AI processor is cannibalizing the DC processor. China demand is also worse than expected. SOXX Index +45% YTD & demand weakening again. Selling most semi longs.
πΊπΈ *US JUNE LEADING INDICATOR FALLS 0.7% M/M; EST. -0.6% (15th straight drop) - BBG
*On a YoY basis, the index fell 7.8%.
*Usually, this level is associated with #recession.
πΊπΈ US bankruptcies in the first six months of 2023 were the highest since 2010 β among the companies covered by S&P Global Market Intelligence - Bloomberg
https://t.co/J1hra0R0la