Category: Reddit Post

Pepperstone: A few decent market moves starting to develop, despite the rangebound and choppy trade seen in FX & equities…Treasuries extending earlier gains to day highs/yield tights led by the belly with 5s down 5bp on the day…

…that, in turn, is helping push gold to day highs with the yellow metal +1.5% testing $2,470/oz to the upside… …crude also gaining ground with front Brent back above $80bbl, while front WTI trades +3% on the day, set for a 5th straight daily advance, while also rising north of the 50- and 200-day moving averages submitted by /u/XGramatik [link] [comments]

Key Figures from the Olympics

Paris 2024 American gymnast Simone Biles will receive $38,000 for her gold medal. However, if she were from Kazakhstan, she would be bringing home $250,000, plus a brand-new apartment! Meanwhile, Indonesian medalists are gifted an entire cow! It turns out that the Indonesian bandy team really is playing for cows! The biggest prizes are in Hong Kong: $768,000 for gold and $192,000 for bronze. On the other hand, Australia offers the least: only $13k for gold and $7k for bronze. And, of course, no cow. Not even a kangaroo as a gift. submitted by /u/FXgram_ [link] [comments]

The delinquency rate on commercial mortgage-backed securities (CMBS) for office properties surged to 8.1% in July, marking an 11-year high.

https://preview.redd.it/j8jhc6mq09id1.png?width=990&format=png&auto=webp&s=66e7d4c2c93d3b5c38474cb4307239b732cffd11 Office CMBS loan delinquencies have QUADRUPLED over the past 1.5 years. The pace of rising delinquencies now exceeds that of the 2008 Financial Crisis. A top-rated AAA CMBS suffered a $40 million loss in May, the first occurrence of this magnitude since the 2008 Financial Crisis. Bankruptcies in commercial real estate are on the horizon. submitted by /u/XGramatik [link] [comments]

Taxman squeezing Coca-Cola, Elon Musk gets blocked in Venezuela, and there’s a new richest person in China

🇺🇸 S&P 500 technically marked its third consecutive week of decline, but the numbers are negligible: it’s more like it’s standing still. On Thursday, the indices rebounded sharply, delivering their best day since 2022—apparently due to a drop in unemployment claims. Bumble, the dating service, plummeted as it struggles to find men willing to pay for the privilege of browsing photos of unavailable women. Warner Bros. Discovery took a 12% hit in a single day after tweaking something in their accounting. The official reason? Losing NBA broadcasts. The real reason? People are losing interest in television altogether. 🥥 C*oca-Cola *is likely to lose billions of dollars in court against the IRS. To cover the upcoming penalty, the company will issue a special bond offering of over a billion dollars. They’re being hit with a $6 billion tax bill for the years 2007-2009, discovered eight years ago. Coca-Cola has decided to pay but will continue to contest the case. The problem is that Coca-Cola was funneling profits into low-tax countries and not into high-tax ones. Weird, right? 👖 The founder of the Temu marketplace, Colin Huang, has become the richest person in China, with a net worth of $49 billion. He overtook some guy in the bottled water business (seriously?). Interestingly, during the pandemic, Colin lost 87% of his wealth. But he’s since made it back. 🇻🇪 Elon Musk continues to fight on. Yesterday, the president of Venezuela blocked Twitter for 10 days, explaining that Musk incites hatred. Question to subscribers: who exactly does Musk incite hatred in? Reminder: Elon challenged Maduro to a fight and also sued a consortium of advertisers for boycotting ads on X. 🔪 S*amsung *is recalling… no, not cars, but kitchen stoves! The company promises to provide some kind of clamps or locks for over a million sold electric stoves. The issue? Cats and dogs jump onto the stovetop and accidentally turn it on. I can believe it with dogs—they’re mostly dumb. But cats? Accidentally turning on the stove? Don’t make me laugh! They’ve been waiting for this stove their entire lives! 📿 Humane’s brooch, which I’ve been trashing since its announcement, is going down the drain. Out of the announced $9 million in sales, customers have already returned $1 million worth of the product, and over 1,000 orders have been canceled. More of these idiotic devices have been returned over the summer than sold. Negative sales—a new trend! ⛵️ Miracle machines in Italy: the yacht of billionaire Laurene Powell Jobs collided with the yacht of billionaire Ricardo Salinas Pliego. No one was hurt, but Salinas now has a hole in the side of his yacht. Patching it up won’t be cheap! Good thing he’s a billionaire. 🦉 D*uolingo *is crushing the charts: their fifth consecutive profitable quarter, and what a quarter it is! A profit of $24 million—up 500% year-over-year. The owl now has over 100 million active users, with 8 million of them paying tribute to the bird. submitted by /u/XGramatik [link] [comments]

BREAKING: The number of US bankruptcies filed under Chapter 11 has surged to 2,462, the highest in 13 years.

https://preview.redd.it/bnhwr01uq6id1.png?width=1520&format=png&auto=webp&s=e570e185e70e0cb89e7bd419b4c9348b859ac94b Chapter 11 allows a company to reorganize under court supervision while continuing to operate, giving it a chance to restructure its finances and business operations. These bankruptcies have more than doubled in just two years. This spike follows widespread struggles among companies to meet debt obligations as the Federal Reserve hiked interest rates to the highest levels in 23 years. Now, markets are expecting 50 basis point rate cuts, with the US economy teetering on the edge of a recession. So much for a “soft landing. submitted by /u/XGramatik [link] [comments]

Tether CEO: MiCA regulations pose a threat to stablecoins.

CEO of Tether Paolo Ardoino expressed concern about the MiCA regulations. He criticised the European bill because of the strict rules and recalled the bankruptcy of Silicon Valley Bank. https://preview.redd.it/rqzwmyr1i3id1.png?width=714&format=png&auto=webp&s=ad298ee339e31a95b708b252986f1cac07fa9aba submitted by /u/Lor1al [link] [comments]

Consumer revolving credit dropped by $1.7 billion in June, marking the largest decline since March 2021. Americans are reaching their limit on taking on more credit.

https://preview.redd.it/fnm3eupfs2id1.png?width=857&format=png&auto=webp&s=c891c15dadfc3c59bc5f50922dfca68911f7b756 On a month-over-month basis, it decreased by 0.13%, making it the second decline in the last three months. For context, in the six years leading up to the 2020 Pandemic, the US only saw five months of revolving credit declines. The 3-month moving average growth has been decreasing for over two years, the longest downward streak since the 2008 Financial Crisis. This decline follows the average credit card interest rate hitting a new high of 22.8% in Q2 2024. submitted by /u/XGramatik [link] [comments]

In the US, 42 million credit cards and 3.3 million auto loan accounts are nearing default.

https://preview.redd.it/xdqa9xc132id1.png?width=1054&format=png&auto=webp&s=58ea8f6dd7400f94cf1d2ea8df4520bb228d3036 Credit card serious delinquency rates in the US rose to 7% in Q2 2024, the highest since 2011. Delinquencies of 90+ days have more than doubled since 2022. Meanwhile, serious delinquencies on auto loans have spiked to 3%, the highest level in 14 years. According to data from the NY Fed, there are currently around 600 million credit card accounts and approximately 110 million auto loan accounts in the US. submitted by /u/XGramatik [link] [comments]

Retail Investors Just Lost a Poker Game

During the recent market turmoil, mom’n pop investors sold about $1 billion worth of their stock. At the same time, what did institutional investors do? They bought $14 billion. If that doesn’t raise an eyebrow, consider this… For retail investors, their recent selling clocked in as a -2.5 standard deviation move below the 12-month average for stock market orders. But for institutional investors, their buying registered as a +2.9 standard deviation move above the 12-month average. What’s behind this enormous differential? Analyst Adam Khoo has a theory: Short term price movement is largely manipulated by market makers and algos (and later justified by ANAL-lyst using bullshit reasons) … e.g. driving prices down to scare and force weak holders to sell… it’s like a game of poker… bluff the weak hands to fold their cards so the pros can grab their money and their shares more cheaply. Whether Khoo is right or not, preventing a shakeout in your portfolio requires you to remember the most important truth of investing… You don’t own a “stock.” You’re a partial owner in a business. This distinction is critical. In the short-term, prices can wildly decouple from the value of an underlying business. So, if price is your central focus, it’s entirely reasonable that violent selloffs would shake you out of your position. But if your focus is on the underlying business itself – and assuming the business remains healthy – then the stock price is just an indicator suggesting one of three things: Buy more of the business if you want (when prices are abnormally low) Skim profits from your stake in the business if you want (when prices are abnormally high) Do nothing (when prices are somewhere in the wide middle, i.e., the majority of the time). But what about stop-losses? Stop-losses are another critical part of investing. They prevent small, acceptable losses from snowballing into massive, portfolio-busting losses. But stop-losses must be tailormade to each unique stock you hold. For example, a 35% stop loss might be appropriate for a volatile biotech that moves 10% a day, but it would be far too high for a low-volatility utility company that rarely moves 2% in a day. Source: InvestorPlace Digest None of this is actually applicable to CFD’s trading where you neither own a “stock” nor you’re a partial owner in a business, but a pure price speculator. submitted by /u/FXgram_ [link] [comments]

Wealth inequality is escalating at an unprecedented pace

https://preview.redd.it/j3pg2v3lc0id1.png?width=851&format=png&auto=webp&s=48cb904f4db2fbef13183ac4950e1c072359cb19 The top 40% of income earners in the US now control 83% of the nation’s total net worth, approaching an all-time high. The top 20% alone hold 71% of the total wealth, an increase of 10 percentage points over the past 20 years. Conversely, the bottom 40% of income earners possess just 8% of the wealth. Even more stark, the bottom 20% account for a mere 3% of the country’s wealth. In recent years, the rich have become significantly wealthier, while most consumers are struggling to keep up. submitted by /u/XGramatik [link] [comments]