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15 minutes ago β€’ Posted by Charles-Henry Monchau

Chart of the day: Bitcoin is outperforming the Nasdaq over the last 12 months

Bitcoin grabbed the headlines on Tuesday as it overtook Nasdaq's performance in the last 12 months...Source: www.zerohedge.com 

#Cryptocurrencies
Bitcoin vs. Nasdaq vs. S&P 500 last 12 months

1 hour ago β€’ Posted by Charles-Henry Monchau

Yuan slides after China unexpectedly suspends "counter-cyclical Factor" in FX Fixing

Source: www.zerohedge.com 

#Forex
Yuan vs. Countercyclical Factor

1 hour ago β€’ Posted by Charles-Henry Monchau

The "K-shape" recovery: Richmond Fed smashes expectations, hits record high

The K-shaped recovery continues, and even as some states seeing a sharp pullback in economic conditions, others are thriving. The mid-Atlantic states that comprise the Richmond Fed district are among the latter, and in fact according to the latest Richmond Fed manufacturing index, conditions have never been better with the index hitting the highest in its post-1993 record - source: Bloomberg, www.zerohedge.com 

#Macro
U.S Richmond Fed manufacturing index

1 hour ago β€’ Posted by Charles-Henry Monchau

Inflows into ESG ETFs are surging

Source: Bloomberg 

ESG ETFs AuMs

3 hours ago β€’ Posted by Charles-Henry Monchau

US equities - Strong vs. Weak balance sheets

Companies with strong balance sheets have outperformed companies with weak balance sheet year-to-date, as companies with weak balance sheet typically invest less (source: Goldman Sachs) 

#Stocks
US equities strong vs. weak balance sheets relative performance

3 hours ago β€’ Posted by Charles-Henry Monchau

U.S Presidential election: Trump could win with Pennsylvania and Nevada while losing other toss ups

Source: Financial Times 

U.S Presidential election: Potential scenarios based on electoral votes

4 hours ago β€’ Posted by Charles-Henry Monchau

Expressed in Bitcoin, an iPhone is not that expensive after all...

In 2010, you needed 8,557 bitcoins to buy an iPhone 4. In 2020, you just need 0.07 Bitcoins to buy an iPhone 12... 

#Cryptocurrencies
iPhone in Bitcoin

4 hours ago β€’ Posted by Charles-Henry Monchau

Another sign that the U.S Housing market is on fire

Home sales relative to inventories of completed homes - source: Bespoke 

Home sales relative to inventories of completed homes - source: Bespoke 

10 hours ago β€’ Posted by Charles-Henry Monchau

The roller-coaster ride of Big Hit Entertainment, the K-Pop South Korean stock

Since the trading on Big Hit Entertainment (352820.KS) began, the stock nearly doubled β€” from the IPO price of Won135,000 ($115) to Won270,000 ($236). From there they rose another 30% as the retail investors who had missed out on the lottery drove a trading frenzy. But by 9.15am, a downward march had begun. Big Hit shares are currently trading at about Won156,000. Big Hit’s up-down IPO aside, K-pop is a growing economic force. The combination of catchy tunes, synchronised dance routines, perfect skin and considerable social media savvy has brought in big money. The pandemic has also thrown up new opportunities. More than 7m fans tuned in to two online concerts held by the band this year after world tours were cancelled. However, even before a single Big Hit share changed hands, its IPO price already represented a valuation of nearly 60 times forward earnings. So maybe the sharp decline can be somewhat justified by a necessary valuation adjustment? - source: Source: FT 

#Stocks
Big Hit Entertainment (352820 KS)

13 hours ago β€’ Posted by Charles-Henry Monchau

U.S earnings season has been stronger than ever but share-price reactions to earnings haven't been as strong as beat rates

"The results so far this U.S earnings season have been stronger than ever. Through last Friday, 85% of the 271 companies that had reported Q3 results beat consensus bottom-line expectations. That's more than 25 percentage points above the average beat rate of ~60% seen over the last twenty years. The top-line beat rate for revenues has been almost as strong at 78%, while the percentage of companies raising guidance (17%) is higher than we've ever seen. Share-price reactions to earnings haven't been as strong as beat rates, but the numbers are still positive. So far this season, the average stock that has reported has gained 0.55% on its earnings reaction day (the first full day of trading after the earnings release). To get to that +0.55% full-day gain, the average stock has actually opened higher by 0.97% and then sold off by 0.44% from the open to the close of trading. So while we're seeing stocks gain in reaction to earnings, underneath the surface we've seen a stronger initial reaction to the news and then some intraday selling. Of the 271 stocks that have reported, 13 have gained more than 10% on their earnings reaction days. These 13 stocks are listed below. As a final note, when it comes to forward guidance, we're seeing the same extraordinary trend when it comes to what companies are saying about their future prospects". - source: Bespoke 

#Stocks
13 stocks have gained more than 10% on their earnings reaction days