European equities are (almost) back at the 2021 high, a remarkable performance, all things considered. Was October the trough for global equities?

Fat and flat. Global equities, measured in EUR, haven't really been going anywhere for the past year. NB: Chart includes dividends.

Bonds are back. There is once more decent yield to be had in European credit bonds.

Thread

Record high container traffic at still lower prices: global supply chain pressures are a thing of the past.

Negative renter kommer ikke igen. Ny kommentar i Børsen: borsen.dk/nyheder/opinio…

ChatGPT has changed the world. It does lack in some areas, but my favorite use case is leveraging it to teach me things twice as fast. Here are the 10 best prompts to learn anything faster:

Inflationen kom som forventet - og den kommer ikke ned igen. Ny kommentar i Berlingske Thomas Bernt H.: berlingske.dk/kommentar/infl…

Hvis inflationen ikke kommer ned, så gør renterne det nok heller ikke.

Nvidia revenue, light blue is the company's guidance, amazing! You never pay enough for tech-winners!

Perhaps somewhat obvious, but still an important statement from Bank of England's Bailey and Pill: "We are no longer following our models". Applies to other central banks as well. Now we just need to weed out the r* nonsense! Ping Kenneth Praefke ft.com/content/b972f5…

The Swedish krona is now extremely undervalued vs. $ and €. We should all pile into Swedish assets here, but what to buy? Hit me!

Forsvind, havvind, og sundhed. Læg det hele sammen og både renter og inflation vil stige i de kommende årtier. Ny kommentar i Børsen: borsen.dk/nyheder/opinio…

Perhaps our relationship with money has changed, but the 6% y/y drop in M1 - the biggest on record - would normally suggest that a recession was approaching.

What needs to happen for Western companies to stop having commerciel relationships with Russia? Does bombing pizza restaurants and killing children count? Can you be an SFDR Article 9 fund and include such companies? theguardian.com/world/2023/jun…

Something has changed: US economic surprises - measuring the momentum of economic outcomes agains forecasts - have risen to new highs.

One reason why industry has been at odds with consumer speding is a very significant inventory drawdown. If growth doesn't slow now, then not only will production pick up, but so will inventories.