🇯🇵 2025 Japanese House of Councillors election results…

Biggest Losses: The largest party, the Liberal Democratic Party (conservative) lost 18 seats, Komeito (centrist) lost 6 seats, and the communists lost 4.

Biggest Gains: Sanseitō (“ultraconservative”) went from 1 seat to 15, and the newly reformed Democratic Party for the People gained 12 for a total of 22.

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🇺🇸 Margin Debt As Percentage Of Real Disposable Personal Income

Retail is a big part of the market today, and yes, a whole lot of it involves margin…

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🇺🇸 The Dollar is once again rejected at the 50-day moving average.

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💸 Unlike its Dollar pair, Bitcoin has not hit a new all-time high against the Euro since January 20th.

By contrast, $BTCUSD has had 7 days with new all-time highs since then.

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Fantastic returns thus far this year in the defense industry:

🇩🇪 $HAG Hensoldt +201%
🇩🇪 $RHM Rheinmetall +200%
🇬🇷 $THEON Theon +141%
🇸🇪 $SAABB Saab AB +140%
🇺🇸 $KTOS Kratos +124%
🇺🇸 $ATRO Astronics +117%
🇫🇷 $EXENS Exosens +113%
🇺🇸 $RKLB Rocket Lab +102%

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🌍 Global Core Inflation (and 5 Year Range)

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🇪🇺 Total 2024 Population Change in European Countries

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🇺🇸 Retail gasoline & diesel prices remain relatively stable.

Retail gasoline prices for all grades averaged $3.25 per gallon (-9.5% y/y) last week for the third straight week. Prices remained above their low of $3.13 in the week of December 9. The recent high was $3.79 in the week ending April 22, 2024. Their all-time high of $5.11 occurred in the week ending June 13, 2022.

The retail price for on-highway diesel fuel rose to $3.81 per gallon (0.9% y/y) in the week of July 21 after rising slightly to $3.76 in the prior week. The latest diesel price stood well below a high of $4.63 in the week ending September 18, 2023 and a peak of $5.81 in the week ending June 20, 2022.

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🇺🇸 The S&P 493 outperformed the MAG 7 for a change.

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🇺🇸 2028 Republican Primary polling…

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🇺🇸 Homebuilders had their best day since November of 2022.

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🇮🇳 India’s Rising Role in the Global Economy

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🇺🇸 June CPI broken down into the three main categories & their respective parts by weighting on the left. On the right, each category’s percentage contribution to the increase in the consumer price index.

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🇺🇸 Medicare’s Hospital Insurance Fund will be depleted by 2033.

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🇺🇸🇯🇵🇩🇪🇫🇷🇬🇧 2025 GDP Growth Forecasts

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