■ 기업도 빈부격차에 시달린다 S&P500의 선행 어닝은 팬데믹 이후 고점을 회복한 반면(오른쪽), 러셀은 그보다 한참 아래에(왼쪽) 있습니다. (출처는 맨 아래)

Great chart from Joey. Just adding a potential explanation for the gap. Inside the black box are the deficit of US (blue) and Germany (Orange) during the same time as Joey's chart. The US just ran a more than three times higher deficit (% of GDP) compared to Germany since 2020.

Relax guys. GDPNow estimate jumped to 4.2% (from 3.0%), due to Manufacturing ISM (49.1 vs 47.1 prior). Look at Consumption (PCE). Do you really think consumption can double, when wage increases are falling (look at ECI)?

Strong growth in ISM Services. But you cannot have it both ways. Above trend growth and low inflation. Look at Prices 64! (56.7 prior month). If the trend continues inflation will accelerate again.

Good luxury sector discussion with Anita Sharma ૐ Worth your time. 👇👇👇

Very good thread on financial stress indicator.