Stocks rose, the yield curve steepened. Powell indicated he's good to cut rates before inflation returns to 2%. 2's10's curve is now just 22bps inverted on Fed cuts and steepening on the long end due to predictions that if elected Trump's policies would increase deficits and inflation. Trump named J.D. Vance is running mate and for some reason when I hear Vance I only think of The Office.
Nothing on the earnings front is causing any major concerns at the moment.
Retail Sales on the day ahead.
XTOD: The Rapper 50 Cent is reporting in talks with Organizers about appearing at the Republican National Convention in Milwaukee alongside Former President Donald J. Trump.
XTOD: The inventory spike in Texas/Florida right now is breathtaking. Active listings in these two states up to 249,000. The highest level in the last 7 years. And they continue to go up like a hockey stick. Don't be surprised if values in Texas/Florida are down by at least 10% by year end.
Meanwhile - Northeast US is still in massive inventory shortage.
XTOD: Scoop: Biden WILL announce plan to cap rents at 5% nationwide, sources say Would strip tax benefit from corporate landlords who dont comply Plan, which likely requires D control of Congress, comes as Biden emphasizes populist econ ideas after debate W/ @rachsieg https://washingtonpost.com/business/2024/07/15/rent-cap-biden-housing/
XTOD: jokes aside JD is a great choice, former VC, and very good on crypto. Trump 2.0 is signaling a pro tech, pro silicon valley, pro american dynamism outlook.
XTOD: "Unless you buy a stock at the exact bottom (which is next to impossible), you will be down at some point after you make every investment. Your success entirely depends on how dispassionate you are towards short-term stock price fluctuations. Behavior matters." — Joel Greenblatt
XTOD: The US isn’t a failed European country, it’s a working Latin American country. If it fails, it‘ll look more like Mexico than Scandinavia.
https://x.com/nickgerli1/status/1812833751547654449
https://x.com/JStein_WaPo/status/1812918420423254480
https://x.com/nic__carter/status/1812929676530032875
https://x.com/InvestingCanons/status/1812397524826648586
https://x.com/naval/status/1812649906588598455
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