The Kobeissi Letter
Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: support@thekobeissiletter.com
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It's official: The Fed's Reverse Repo Facility (RRP) is now down ~$2.5 TRILLION from its peak in December 2022. The US is borrowing so much debt to fund deficit spending that the...
This has NEVER happened before: The correlation coefficient between Gold and the S&P 500 reached a record 0.91 in 2024. This means that Gold and the S&P 500 were moving in TANDEM...
Shocking stat of the day: Since 2021, China's real estate collapse has destroyed $18 TRILLION of Chinese household wealth. To put this in perspective, the US saw $11 trillion of...
China is in an economic "death spiral." Today, the yield on their 10-year government bond fell below 1.60% for the first time in HISTORY. Even as China rolls out pandemic-like st...
What just happened? The Fed cut interest rates by 25 basis points which is exactly what 97% of market participants wanted. But, the S&P 500 just posted its largest post-Fed drop...
Apollo with a HUGE call this morning: For the first time since the "Fed pivot" began, Apollo has officially declared inflation back on the rise. They warn of a potential repeat t...
WOW. MicroStrategy stock, $MSTR, just fell a MASSIVE -35% from its peak seen on November 21st. That's ~$30 BILLION of market cap erased in 4 trading days as #Bitcoin fell ~9% fro...
Interest rates are actually UP since the Fed cut rates last week. In fact, some products have seen interest rise 20+ bps over the last week, even as the Fed cut rates by 50 bps....
What in the world is happening to Gold? Gold prices are up a MASSIVE 28% in 2024 to a fresh record high of $2,660/oz. This puts Gold on track for its best annual return since 197...
The difference between the 2-year Treasury yield and the Fed interest rates dropped to -1.69%, the most in at least 35 years. This gap is now even larger than in 2008 and in 1989,...
While August CPI inflation is at 2.5%, inflation is much higher in many basic necessities: 1. Car Insurance Inflation: 16.5% 2. Transportation Inflation: 7.9% 3. Hospital Services...
Current situation: 1. Stocks are falling like the big tech bubble has popped 2. Oil prices are falling like we are entering a recession 3. Gold prices are falling like rate cuts...