Daily Archives: June 3, 2020

Just to put things into perspective. US stocks very expensive after the recent rally. S&P 500 12 month forward multiple now at 22, S&P 500 24 month multiple at 24, highest since the dot-com bubble at the turn of the century. (via DB) pic.twitter.com/WtlO443Hiy

— Holger Zschaepitz (@Schuldensuehner) June 3, 2020

Good morning from #Germany, where the stock market has completely decoupled itself from the real economy. After the rally over 12,000 points, the German stock index Dax is valued at a P/E of 20, highest level since the dot-com bubble at the turn of the century. pic.twitter.com/44rCyPkIwA

— Holger Zschaepitz (@Schuldensuehner) June 3, 2020

???????? #SPX | More than 97.5% of S&P 500 stocks closed above their 50-dma yesterday (1st time in the 21st century) – Bloomberg pic.twitter.com/PQPgNAu1tf

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? JPMorgan’s Math Shows Why U.S. Stocks Can Keep Rallying – Bloomberg
*Link: https://t.co/AQEtg1JwDi pic.twitter.com/TQfSuAsxDV

— Christophe Barraud???? (@C_Barraud) June 2, 2020

???????? #SPX | With the first-quarter earnings season winding down in the U.S., it’s time to look at the scorecard and it’s not pretty.
*Only two-thirds of S&P 500 Index members managed to beat profit expectations (the fewest since 2012) according to Bloomberg data. pic.twitter.com/YneVyUrknY

— Christophe Barraud???? (@C_Barraud) June 2, 2020

Americas

???????? #WhiteHouse Weighs Options for Next Stimulus Bill – WSJhttps://t.co/pt0BOPYv3e

— Christophe Barraud???? (@C_Barraud) June 2, 2020

???????? ???? #USTR launches investigations into countries' digital taxes – The Hillhttps://t.co/VnOPPCOYiu

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? A separate Reuters/Ipsos poll found that #Biden’s lead over #Trump among registered voters expanded to 10 percentage points – the biggest margin since the former vice president became his party’s presumptive nominee in early April.https://t.co/uUcOxQBCpH

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? Illinois Becomes First to Tap #Fed Loans After Bond Yields Surge – Bloomberg
*State is poised to borrow $1.2 billion from central bank
*Illinois is at risk of being first U.S. state cut to junkhttps://t.co/aqm7ArFORp

— Christophe Barraud???? (@C_Barraud) June 3, 2020

Asia

???????? #Australia’s Economy Contracts, Ending Three-Decade Expansion – Bloomberg
*Link: https://t.co/X3B30v6nZt pic.twitter.com/duVg4JtwI6

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? #CHINA MAY CAIXIN PMI SERVICES: 55.0 V 47.3E (highest since Oct. 2010)
– PMI Composite: 54.5 v 47.6 prior (highest since Jan. 2011)
*Link: https://t.co/4D9XeYsgxu pic.twitter.com/cWsq9eE61f

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? #SouthKorea announces $29 billion third stimulus budget to fight virus misery – Reutershttps://t.co/T0TxWLnVA3

— Christophe Barraud???? (@C_Barraud) June 3, 2020

Europe

???????? #Germany | Merkel Forced to Delay Stimulus Package Amid Coalition Impasse – Bloomberghttps://t.co/Z5PMVLzsdD

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? #Coronavirus: Ministers to unveil £10bn trade credit scheme – Sky Newshttps://t.co/ngTgSZcK8B

— Christophe Barraud???? (@C_Barraud) June 3, 2020

???????? The Swiss economy slumped the most in at least four decades as a result of the coronavirus pandemic, with private consumption and investment plummeting.#SWISS Q1 GDP Q/Q: -2.6% V -2.1%E; Y/Y: -1.3% V -0.9%E pic.twitter.com/x1LDTKB3yq

— Christophe Barraud???? (@C_Barraud) June 3, 2020