🇺🇸 The only S&P 500 sector to appreciate in price last week was Utilities ($XLU).

📈 CHART WATCH 📈

🇺🇸 The University of Michigan’s inflation expectations have cooled considerably.

Inflation Expectations peaked at 6.6% in May, now down to 4.5% in July. 5 Year Inflation Expectations have fallen to 3.4% in July from 4.4% in April.

📉 CHART WATCH 📉

🇮🇱 The main equity index of Israel ($TA35) has appreciated 75.8% in 666 days since October 8th. In Dollar terms, it’s almost double at 98.16%. It has largely been a relentless climb for the Israeli market (it did fall a little over 5% during the short-lived ceasefire this winter) since the pager bombings.

Looking at the rate of change (2nd chart, vertical timeline markers identical to above), there are 3 major positive thrusts (ROC > 10):

(1) in the 3rd-6th weeks of the conflict;
(2) during the anti-humanitarian blockade in March-May of this year, after the dubious “ceasefire” shattered; and
(3) after the June attack on Iran.

📈 CHART WATCH 📈