via @DowdEdward:
The stock market is in the process of topping. The Growth Factor vs the Value factor is flipping. There is not enough market cap in value to to offset this rotation and keep the indices up. It started a few weeks ago and once it picks up we will see levered Quants unwind fast. pic.twitter.com/y0MsyzT9TK
David Rosenberg: The stock market has yet to catch on that the US economy is already cooling off significantly.
The stock market has yet to catch on that the US economy is already cooling off significantly. In the past month, just one-third of the high-frequency data have beaten expectations; over half have missed! <1/2>
— David Rosenberg (@EconguyRosie) August 7, 2018
And so far in August, all five indicators missed (both ISMs, payrolls not to mention a -0.2% print on aggregate hours worked, construction and auto sales). Bernanke was right about Wile E. Coyote…just don’t look down at the data! <2/2>
— David Rosenberg (@EconguyRosie) August 7, 2018
‘We now have record low correlation at the same time we have high valuations, and the combination is bad for the market.’ https://t.co/4wJgXnxqgt pic.twitter.com/IXppEtiAae
— Jesse Felder (@jessefelder) August 9, 2018
Macro hedge funds have been caught off-guard by the recent rise in equity indices. Their performance show the biggest negative beta vs % changes of MSCI World since 2008. (measured over past 15 days) $SPY #meltup pic.twitter.com/bMlFfmgclR
— Martin Enlund 🦆🚁 (@enlundm) August 8, 2018
US 🇺🇸
Consumer Confidence Is At Multi-Year Highs.
However, delinquencies are rising… pic.twitter.com/2jv5YJipcU
— Daniel Lacalle (@dlacalle_IA) August 9, 2018
Check this out https://t.co/wwuB4KRNw0 pic.twitter.com/s8aPCINDa1
— Rudolf E. Havenstein Remembers (@RudyHavenstein) August 8, 2018
Chart: Are lumber futures pointing to softer US housing activity? pic.twitter.com/SR4Qa1hspM
— (((The Daily Shot))) (@SoberLook) August 9, 2018
Chart: The situation looks bleak for US pig farmers – pic.twitter.com/4x4CrL8zeG
— (((The Daily Shot))) (@SoberLook) August 9, 2018
$GS sector analysts see futures risks from the trade war, including corporate profits pic.twitter.com/AUXTJbPnV1
— ℭhi 🛢️ (@chigrl) August 9, 2018