🇺🇸 Offices out, data centers in.

📈 CHART WATCH 📉

🇺🇸 In gray, the nominal yield. In yellow, inflation expectations. And in …teal? Real yield.

For 2020 & 2021, incredibly well justified inflation expectations drove growth in nominal yield until the fastest hiking cycle in history was initiated by the Fed. From 2022 to well into 2023 after the cycle ended, it was growth in real yield pushing nominal yield up.

All of the above are stable lately.

📈 CHART WATCH 📈

🇩🇪 What do Germans think about shutting down their arms trade with Israel? Here’s how the ARD-DeutschlandTrend survey worded it:

Germany should no longer send weapons to Israel for the time being because of Israel's actions in the Gaza Strip.

Yes (blue), cut Israel off? No (red), continue selling them arms. Or “don’t know” (gray).

75% of Germans said “yes.”

It’s also broken down East/West, by age bracket, and by political party. The parties with the greatest interest in selling arms to Israel were SPD (21%) and CDU/CSU (18%), but all of the listed demographics were at least 70% against that.

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🌎 The total crypto market cap has cracked $4 trillion.

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🌎 The only two other times Brent crude traded this low against the S&P 500 were in 1999 & 2020.

🛢 CHART WATCH 🛢

🇺🇸🇯🇵🇪🇺 Global Inflation Rates

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🇮🇳🇺🇸🇷🇺 The U.S. share of India’s exports, and Russia’s share of India’s oil imports…

🆙 CHART WATCH 🆙

🇺🇸 Preseason estimates have been unseasonably—and historically—beat.

📊 CHART WATCH 📊

🇺🇸 🇯🇵 🇪🇺 Japanese & European Passenger Car Export Prices to North America showed a sharp decline.

That means as far as Japanese auto exports are concerned, foreign exporters are paying into the tariffs...

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