Today’s Animal Spirits is brought to you by Nasdaq:
See here for Nasdaq’s research on the shifting profile of retail investors.
On today’s show we discuss:
- Stanley Druckenmiller is taking a break
- Consumer Price Index summary
- Mainstreet is rushing for U.S. Government Bonds
- America’s inequality problem just improved for the first time in a generation
- Housing inventory is climbing
- Even deep-pocketed buyers are backing away from the housing market
- Home equity is still available in Q1 2022
- Axie Infinity is pivoting
- Everything is a pyramid scheme
Future Proof Festival:
- Days of Thunder
- We Own This City
- Stranger Things
- Knocked Up
- Meet the Parents
- Jurassic park
Interest rates on the first day of 2022:
2 year treasuries 0.7%
5 year treasuries 1.3%
10 year treasuries 1.6%
30 year mortgage 3.0%
Interest rates today:
2 year treasuries 3.2%
5 year treasuries 3.4%
10 year treasuries 3.3%
30 year mortgage 5.5%
— Ben Carlson (@awealthofcs) June 13, 2022
You got me curious, just did a quick search, only 6% of 2700 ETFs have done better than inflation over last year. It's basically all energy/commodity ETFs with a few exceptions such as the cash cow ETF, utilities and a couple alt ETFs. Pretty bleak tho.
— Eric Balchunas (@EricBalchunas) June 10, 2022
Scooter company Bird is down over 93% from its SPAC deal. It's valued at $183 M; it raised over $1 B pic.twitter.com/gN5JfgOXkU
— Eliot Brown (@eliotwb) June 7, 2022
— junkbondinvestor (@junkbondinvest) January 30, 2022
It’s official: The average US gas price is now over $5 a gallon
21 states and DC have over $5 gas prices. (California is over $6) Several more states are on the verge of $5: Del, NH, Conn, Wis. and West Va.
— Heather Long (@byHeatherLong) June 11, 2022
1/ This is really dumb on multiple levelshttps://t.co/k6fATRXvHn
— Brian Armstrong – barmstrong.eth (@brian_armstrong) June 10, 2022
Bird, Buzzfeed, Blue Apron, Real Real, Groupon, Smile Direct, and Oscar:
collectively raised $5.9B in venture
combined valuations in the public markets = $2.7B
— Chris Bakke (@ChrisJBakke) June 10, 2022
Wages are growing quickly, but many workers aren’t seeing those raises add to their purchasing power. ~45% of employed workers in May got an inflation-adjusted raise over the past year. pic.twitter.com/bAGlEKOty9
— Nick Bunker (@nick_bunker) June 10, 2022
Had to update this one for today's 6.13% rates.
The mortgage rate going from 3% (Jan) -> 6% (today) boxes out *18 million* households from qualifying for a $400K mortgage.
That's a 36% reduction in potential demand. pic.twitter.com/i10hMrmDMV
— Eric Finnigan (@EricFinnigan) June 13, 2022
This will go down as one of the worst 2-day streaks for mortgage rates in history.
For those hoping for more housing supply, be careful what you wish for. pic.twitter.com/V3xAomeHFV
— Tim Lucas 🏠 (@hellofromtim) June 14, 2022
"It's a hard fall from grace." After an epic two-year run, the country's luxury real-estate market is showing signs of cooling, while Austin's housing bubble is on the verge of bursting. https://t.co/BbCI6ZQVo0
— The Wall Street Journal (@WSJ) June 10, 2022
Never forget Michael Saylor encouraging unsophisticated investors to liquidate every asset they own to buy Bitcoin on leverage.pic.twitter.com/Wvv3c2JpOZ
— Nate Anderson (@ClarityToast) June 13, 2022
“Work-from-home fatigue may be settling in. .. The latest run of our survey showed a drop in the percentage of respondents that prefer to work from home, to 68% in June ’22 from 92% in March.” – B of A 👀 #WFH pic.twitter.com/riZokzk98A
— Carl Quintanilla (@carlquintanilla) June 10, 2022
Disney fires TV content chief Peter Rice, source says https://t.co/CFVsP3gJey
— CNBC (@CNBC) June 9, 2022
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