Retail Investors Went All in on the Rally
Rallies are self-defeating
Majority of Fund Managers Still See Bear Market
Seems right
Bank of Japan Remains an Outlier
A big bet on deflation
S&P 500 Earnings Yield Barely Beating Cash
Yield free risk
Visualized: The EV Mineral Shortage
Six times more mineral than conventional cars
Retail Sales Climb as Consumers Get Less Bang for Their Buck
Keep up with inflation
Germany’s Trade Imbalance with China Finally Blows out
What a surprise…
The Global Decline in Consumer Confidence
Everywhere and all at once
Half of American’s Say Their Financial Situation Has Deteriorated
But still optimistic
CPI Still Has Room to Drop
A disinflationary backdrop