Impressive!

This guy owns the key to all your questions

Wouldn’t be full combat mode without the 🔑

It will be very beneficial to the value of cash flows generating corporate entities.

Proud Golden Retriever owner here too

@ivanthek.bsky.social Not unique to the U.S.:
Canada Equalization Payments
Unconditional payments to provinces whose fiscal capacity falls below the national average. The goal is to enable all provinces to offer reasonably comparable public services at reasonably comparable levels of taxation.

Who is your top pick? #conclave

That is because she includes Canada

She should try ChatGPT next time

He got the big 6 on the first try today.

She is so good. Great episode.

Trapped investors in the 5700-5750 region!

The new dollar smile ☹️

Bessent said 14. Go figure.

Yes. I am heading to Washington for IMF WB and my in laws thought I was reckless.

Half brothers getting wet #golden #retrievers

white

Japan state pension fund switches to foreign benchmark index excluding onshore China shares Japan's Government Pension Investment Fund has switched the benchmark it uses for foreign equities for its $1.7 trillion of investments, to one that does not include onshore Chinese shares it said in a recent update.

Seems like this flew under the radar

www.reuters.com/markets/asia...

I was thinking: from 2020–2025, US retail—and even some institutions—developed a serious home‑bias. They’ve been conditioned to BTFD and rewarded for it. By the time they realize the trade’s broken, US equities could be much lower, and they’ll be left bag‑holding. Could Trump be the proverbial straw

Booze? I saw that cirrhosis was accelerating for younger cohorts in the US.

In recent years getting stretched

Hard to get anymore Canadian than that

Various dimensions but of course factor rotation played a roll. But also, China economy was growing quite aggressively, which benefited EU, Canada and other EM. We have the factor rotation in play, do not think China will be a catalyst this time around. Also % starting point of US vs ROW.

Agree that locally this is a bit overplayed but in regime change perception becomes reality and persistence and auto correlation from quarter to quarter is quite powerful like we saw from 2003 to 2007. US equities underperformed badly back then. IMHO we are pivoting to this (65% probability).

Sous vide is always the solution. Enjoy!

Microphone check 1-2: US 30-year real yield printing highest level since 2008.

Poor them but isn’t always the case ?