News and my thoughts from last week (03Mar2025)
How can the legacy media survive their self-destruction?
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has now erased -$450 BILLION of market cap over the last 24 hours. This comes after the company crushed earnings expectations, posting record quarterly revenue of $39.3B. -X user The Kobeissi Letter
January PCE inflation, the Fed's preferred inflation measure, falls to 2.5%, in-line with expectations of 2.5%. Core PCE inflation was 2.6%, in-line with expectations of 2.6%. This marks the first decline in PCE inflation since September 2024.
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Hedge funds are RUSHING to the exit at nearly a RECORD pace: Hedge funds have been selling US technology stocks in February at the fastest rate since the 2021 Meme Stocks Craziness. Over the last 5 days alone, they reduced their exposure at the 2nd-highest pace in 4 YEARS. - Global Markets Investor
Overvaluation is a part. For those who invested in AI, how long can they wait to reap their rewards. After the earnings of the Magnificent 7, can the S&P493 tank the market?
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Freddie Mac (Housing) delinquencies are now HIGHER THAN 2008
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US credit card debt has hit a record of $1.2 trillion
GERMAN COMPANIES' INSOLVENCIES ARE RISING - German company insolvencies SPIKED nearly 17% in 2024 in November (preliminary). In October, the increase was as much as 36%. In effect, the index of insolvencies rose to the highest in at least 7 YEARS. - X user Global Markets Investor
US CREDIT CARD DELINQUENCIES ARE RISING - US credit card serious delinquency rates for subprime borrowers rose to 22% in Q3 2024, the highest in over 12 YEARS. They account for ~23% of the consumer credit market, according to the Fed. - X user Global Markets Investor
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The US economy is more dependent on the stock market than EVER: The top 10% of US income earners now reflect a RECORD ~50% of all consumer spending. At the same time, the top 10% own ~87% of the stock market. A severe bear market could lead to a depression. All on the Fed? - X user Global Markets Investor
India is home to 1.4 billion people but around a billion lack money to spend on any discretionary goods or services, a new report estimates. Is this an issue of inflation meeting stagnant income? - BBC
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US auto loan serious delinquencies have been rising at an ALARMING pace: US auto loans serious (90+ days) delinquency rates hit the highest level since the Great Financial Crisis. Serious delinquencies have been surging for all age groups with the youngest hit the most. US car market BUBBLE is popping: US auto loans serious (90+ days) delinquency rates hit 3.0% in Q4 2024, the highest in 14 years - the Financial Crisis recovery period. Serious delinquencies now surpassed the 2001 recession and the 2020 Crisis levels - X user Global Markets Investor
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The US job market leading indicator is plummeting: The average weekly hours worked by Americans fell to 34.1, the lowest since the Great Financial Crisis and in line with the 2020 crisis low. Typically, hours worked decrease before LAYOFFS pick up. The US Job numbers have been revised DOWN by a whopping 600,000 for 12 months ending March 2024: The BLS reported in February job numbers were overstated by the most since 2009, the last year of the Great Financial Crisis. Expect more revisions to come. - X user Global Markets Investor
U.S. to Impose Hefty Port Fees on Chinese Ships: Proposal would impose millions in new fees on shipping giants Cosco and Maersk for entering U.S. ports - WSJ
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