The stock market is signaling some softening ahead for US labor markets.

(1/6) If your currency was rapidly depreciating what would you buy to protect your purchasing power? The answer for Euro and Pound holders has overwhelmingly been #Bitcoin This is notable because we did not see the same trend in previous crises in 2020 or 2021 A brief 🧵

August saw the biggest monthly drop in U.S. job openings since April 2020.

Max Tegmark Nuclear war probability is rising rapidly

Epic: non-profitable tech basket tracked by ⁦⁦Goldman Sachs⁩ has undercut its June low and is at lowest since April 2020, -74% from peak last year [Past performance is no guarantee of future results]

Top 1% of Americans (by wealth) own 53.1% of all stocks in United States; top 10% own almost 89% and bottom 50% own less than 1% ⁦Federal Reserve⁩ ⁦Jim Bianco⁩

U.S. dollar’s impact in one chart: companies with larger concentration of sales in U.S. (blue) have significantly outperformed (YTD) those with larger % of sales from abroad (orange) … gap is now ~15% [Past performance is no guarantee of future results]

RIP Takeoff 😢

US construction spending on electronics manufacturing facilities has been surging amid reshoring efforts. Source: Wells Fargo

Retail investors keep boosting their purchases of Tesla as prices drop. Source: Vanda Research

"The 25 biggest US banks gained $120 billion in deposits in the days after SVB collapsed. All the banks below that level lost $108 billion over the same period. It was the largest weekly decline in smaller banks’ deposits in dollar terms on record." - WSJ wsj.com/articles/small…

It's funny how history rhymes.

The housing market is in a tough spot Mortgage rates are now higher than even the peak seen during the Financial Crisis

As mortgage rates surge to the highest levels since 2000, the mortgage market is going deeper into a state of paralysis. A gauge of US mortgage applications for home purchases fell to a 28-year low last week.

“US importing more from Mexico than #China for first time since 2003” - B of A desk / Hartnett #decoupling

The US Strategic Petroleum Reserves (SPR) now stand at their lowest since 1983. However, the SPR now holds just 46 days of supply, by far the lowest on record. In May 2020, before the SPR depletion began, it held a record 92 days of supply. The historical average is 65 days of

OUCH! US debt interest bill rockets past a cool $1tn a year. It’s 4% of annual US GDP. It has doubled in 19 months. It is equivalent to 16.3% of the entire Federal budget for fiscal year 2022. bloomberg.com/news/articles/… (HT Jim Bianco)

I'm reading this paper on US savings and consumption by the Fed. At first, when you look at this, the US looks so weak in savings because it basically shows US consumers spending down their savings vs super thrifty foreign ones. libertystreeteconomics.newyorkfed.org/2023/10/spendi…

BREAKING: US crude oil production has officially hit a record 13.4 million barrels per day. Daily oil production has increased by 22% over the last 4 years. Since 2008, production has skyrocketed 350% from ~3.8 million barrels per day. The US is now the world’s largest oil

Qatar accounts for 34% of global helium production, which means war in Iran is acting as a huge supply shock for semiconductors and chip production (and baloons?) ⁦Arbor Data Science⁩ ⁦USGS⁩