Goldman: Software sits at around the lowest vs semis in the past 15 years.

Everybody is trading options. Notional option volumes in the S&P 500 have now exceeded the Russell 2000's market cap.

BREAKING: Japan's 10-year Government Bond Yield surges to 1.84%, its highest level since April 2008.

Nixon shifted from pro-capitalist policies to pro-populist policies through his first term. Will Trump follow the same route?

Everyone rushed into call options last week, pushing down the put/call ratio to extremel levels. Downside risk in stocks this week.

Santa rally coming? US equity fund inflows have averaged +$70 billion in December over the last 10 years. We just published our weekly note here: open.substack.com/pub/easymark...

There is a chance we get a record number of FOMC dissents this meeting.

S&P 500 Price-to-Book ratio reaches record high...

The Non-Magnificent 7 stocks' weight in the S&P 500 index is COLLAPSING

Institutional investors are deploying cash: The cash allocation of global managers fell another -0.1 percentage points in November, to 3.7%, the lowest in 15 years.

For the first time in Fund Manager Survey history, investors are saying corporations (big-tech) are spending too much money on Capex.

The put/call ratio touched its highest level since April on Friday as investors rushed to hedge.

The pain in markets has primarily been in speculative “retail favorites”. The question every investor is thinking. Did the bubble pop? Our latest Substack: “Is this it?” open.substack.com/pub/easymark...

The pain in markets has primarily been in speculative “retail favorites”. The question every investor is thinking. Did the bubble pop? Our latest Substack: “Is this it?” open.substack.com/pub/easymark...

Bitcoin sentiment is at the lowest in 3 years

BREAKING: “Epstein had close ties to our own intelligence agency and Israel's intelligence agencies." - Republican Rep. Thomas Massie. How is a US senator saying not front page news?!

BREAKING: “Epstein had close ties to our own intelligence agency and Israel's intelligence agencies." - Republican Rep. Thomas Massie. How is a US senator saying not front page news?!

The Fear & Greed Index fell to 9 yesterday, the lowest level since April 11th.

Dead Internet theory is becoming more true by the day as AI outpaces human-generated content.

BREAKING: The median age of a first-time homebuyer in the US has surged to a record 40 years old. This is up from a median age of 33 years old in 2021 and 29 in 1981.

CTAs have become forced sellers. They loaded up on longs as we trended higher. Now GS estimates the amount to sell is… Over the next 1-month: - Flat tape: -$4.2bn - Up tape: +$0.4bn - Down tape: -$51.3bn

Global interest rates on the rise: Japan’s 10-year yield at its highest level since 2008. More on this in our latest note: open.substack.com/pub/easymark...

Global interest rates on the rise: Japan’s 10-year yield at its highest level since 2008. More on this in our latest note: open.substack.com/pub/easymark...

Consumer’s perceptions of current economic conditions just hit an ALL-TIME low. Stocks are on a different planet than the real economy.

Consumer’s perceptions of current economic conditions just hit an ALL-TIME low. Stocks are on a different planet than the real economy.

Oracle’s CDS spread (cost of default protection) is blowing-out! CoreWeave looks similar. The rest of the market is just beginning to notice. We think the AI bubble is about to pop. Read our latest: open.substack.com/pub/easymark...

Oracle’s CDS spread (cost of default protection) is blowing-out! CoreWeave looks similar. The rest of the market is just beginning to notice. We think the AI bubble is about to pop. Read our latest: open.substack.com/pub/easymark...

The ever-famous quilt chart. Gold still the YTD leader!

ISM Services Prices pointing to higher inflation to come…

The original k-shaped economy chart

30, 40, 50 year mortgages, these people just want homes, they go with the flow

Hmm what could be driving the drop-off in consumption…

If you are in Discord, join our live markets news feed. discord.gg/UyKfUmKA8

Mag-7 leading the way lower again today. “It’s not a bubble” they said. It may not be over by there certainly is some cracks in the AI-dream this week. If you missed it, we wrote about this heading into the week: substack.com/@easymarkets... #stocks #bubble

The median age of a first-time homebuyer in the US has surged to a record 40 years old. This is up from a median age of 33 years old in 2021 and 29 in 1981. (This is what is driving populism. Baby boomers are holding onto their wealth. Redistribution is desperately needed.)

U.S LAYOFFS IN OCTOBER HIGHEST SINCE 2003

Why have stocks been under pressure? People got too bullish. The put/call ratio entered the week at its lowest level in literally a decade. Too many people were buying

Weighting of Nvidia vs. countries in the All-Country World Index

Are we finally going to break the streak? November has been positive every time for the past decade.

Cisco's market cap reached 4% of nominal GDP in 2000, NVDA today stands at more than 16%. “It’s okay to say it…” Check out our latest Substack: open.substack.com/pub/easymark...

“Hindenburg Omen” hit last week. Sure enough market seeing some weakness today. Check out our latest article here: substack.com/@easymarkets...

Cisco's market cap reached 4% of nominal GDP in 2000, NVDA today stands at more than 16%. “It’s okay to say it…” Check out our latest Substack: open.substack.com/pub/easymark...

Asset owners are winning: The combined asset value of major asset classes has reached a record $261 trillion. This is equivalent to ~210% of the size of the global economy.

Investor margin debt is now higher than revolving credit card debt

Monday was the S&P's worst breadth day ever for an "up" day. Since 1990, the S&P has never had weaker breadth on a day that it closed positive. The index closed up 0.23% with a net advance/decline line of -294. Yesterday was the 5th worst.

The market needs a good outcome from this Trump-Xi meeting, Container-ship sailings from China to the U.S. are at their lowest level since the period after Liberation Day on April 2.

Payroll tax data (jobs indicator) is helpful to use while the government shutdown means less economic releases. Slowing significantly…

Tech eating the world: Tech stocks keep growing as a percentage of equities.

Somebody has been buying the opposite of the Economist covers and the portfolio is up huge. The latest trade for ‘Magazine Cover Capital’ is long BNDW (global bond ETF).

% of subprime auto borrowers who are 60+ days late on their car payments hit an all-time high of 6.4%