Markets
Who is Buying Treasuries at Auction?
July 14, 2023
In the last three auctions, dealers bought just 16% of the 10-year notes offered, on average. In contrast, investment funds are now taking down more than half of the average auction.
In the last three auctions, dealers bought just 16% of the 10-year notes offered, on average. In contrast, investment funds are now taking down more than half of the average auction.
Public transportation usage closely follows office usage.
In 1974, there was only $400 billion set aside in dedicated retirement vehicles. In the first quarter of 2023, that number had ballooned to $35 trillion. This is double the $17.8 trillion in 2007.
For years, the fear of overpopulation was labeled a global threat. The actual problem seems to be underpopulation.
As the S&P 500 raced towards a bull market in the first half of 2023 driven by an AI stock boom, bullish options volume began to rise.
Supply chains faced long wait times and extreme cost of goods during the COVDI-19 pandemic. As of July 2023, supply chains are showing their least stress of this century.
A Long-Term Look at Improving Miles Per Gallon Numbers
Some highlights from our recent posts.
Over the last several days, fixed-income markets have been attempting to reverse yields lower. Driving this is a belief that inflation has been vanquished. With crude oil rallying and a base effect pushing year-over-year inflation higher, the Fed might not see it this way.
Today's topics include a good explanation of why no one knows what comes next, global stock rally, UPS strike costs add up, past "peak globalization", a dovish PBOC, some believe the inflation fight is over, some don't, some aren't sure, excess savings, looking ahead for commerical real estate, and avoiding US Dollar long positions
Today's topics include the S&P 500's return since the start of the Fed's hiking campaign, assessing the inflation fight, checking on junk bond market, Howard Marks says watch for market cycles, watching bank earnings for net interest margins, betting against the dollar, how big is too big?, less inverted yield curve, and the impact of remote work