Today’s Animal Spirits is brought to you by YCharts:
See YCharts latest monthly market wrap for June here.
On today’s show, we discuss:
- Getting Long-Term Bullish
- America’s Retirees Are Investing More Like 30-Year-Olds
- Disney World Hasn’t Felt This Empty in Years
- The ‘Great Resignation’ Is Over. Can Workers’ Power Endure?
- Housing Market Update: The Average U.S. Home Is Selling Above Its Asking Price For the First Time in Nearly a Year
- Lurking Beneath Home Prices: Hidden Costs
- The Modern Farmhouse Is Today’s McMansion. And It’s Here to Stay.
- How to Blow Up a Timeline
- Here’s who helped Elon Musk buy Twitter
- Amazon CEO Asks His Hollywood Studio to Explain Its Big Spending
Tropical Bros Shirts:
11 of the most interesting charts surfaced this week 🧵
1/ Retail is back, says JP Morgan.
"Retail investors saw the greatest buying in 15 months, with buying in single stocks coming back; Equity ETFs saw strong inflows as well." pic.twitter.com/FgMSKkf6mx
— Koyfin (@KoyfinCharts) July 6, 2023
"Some claim that institutional investors are the "smart" money and retail investors are better contrary indicators …But our BofA Securities Equity Client Flows suggest the opposite" pic.twitter.com/lqFFHKWggI
— Gunjan Banerji (@GunjanJS) July 9, 2023
GOLDMAN: ".. $NFLX mgmt has executed its password sharing initiative in excess of our prior assumptions .. and overall industry competition has become more muted .. Since we added NFLX to the Sell list on June 10, 2022, NFLX shares are up 135% vs the S&P500 of 12.5%."
— Carl Quintanilla (@carlquintanilla) July 5, 2023
* USED VEHICLE YEAR-OVER-YEAR PRICE DECLINE SECOND LARGEST EVER
— Carl Quintanilla (@carlquintanilla) July 10, 2023
TRAVEL UPDATE: Yesterday, TSA Officers nationwide screened 2,883,595 individuals – beating our previous travel record of 2,882,915 on the Sunday after Thanksgiving in 2019. This is the highest number of passengers the agency has screened on record.
— TSA (@TSA) July 1, 2023
Lemme point out the obvious: Tech bros were wrong about what was happening even just in their corner of the universe. https://t.co/4NEuJ2p0rt
— Justin Wolfers (@JustinWolfers) July 9, 2023
Big Tech companies may have resumed their hiring based on job openings. Total job openings for $GOOG, $AMZN, $MSFT and $META are up 100%, 40%, 85%, and 162%, respectively since the end of Q1, although they are all still down a fair amount from a year ago pic.twitter.com/93FghFmr3U
— Weng (@AznWeng) July 10, 2023
It's Over, Johnny. pic.twitter.com/vOMIpw3lx9
— Bespoke (@bespokeinvest) July 7, 2023
The US added 3.8M jobs in the last year, including:
1M in Health Services & Private Education
800k in Leisure & Hospitality
600k in Government & Public Education
470k in Professional & Business Services
400k in Goods-Producing Industries
200k in Trade, Transportation & Utilities pic.twitter.com/n3UJmiihsr
— Joey Politano 🏳️🌈 (@JosephPolitano) July 7, 2023
The average 30-year fixed mortgage rate jumps to 7.22%.
That's a new high mark for 2023.
Spread: 315 bps pic.twitter.com/On1xuBBSg7
— Lance Lambert (@NewsLambert) July 6, 2023
A take I’m convinced is true: Michael is right *for now*, but we’ll see sub 3% 30 year mortgage rates within the next 10 years.
The whole structure of debt in this economy is predicated on low rates and will pull rates lower at some point (either thru crisis or anemic growth). https://t.co/HEV3hv9vC7
— Cullen Roche (@cullenroche) July 7, 2023
#NEW Among the 100 largest markets, only 1 market (Austin) saw a seasonally adjusted month-over-month home price decline in May.
The other 99 markets posted an increase.
— Lance Lambert (@NewsLambert) July 7, 2023
An advisor adds an unbelievable amount of value in 3 areas:
1: Peace of mind (nothing is overlooked).
2: Expertise (you cannot know what you do not know). 3: Objectivity (remove unhelpful emotions from your decision-making).
What else would you add?
— Peter Lazaroff (@PeterLazaroff) July 3, 2023
DANNY MEYER, on tipping: ".. If you’re just taking out food, and it was just a transaction — I give you money, you give me a cup of coffee — I don’t think there’s any obligation to tip whatsoever .."
— Carl Quintanilla (@carlquintanilla) July 7, 2023
— IMDb (@IMDb) July 7, 2023
It’s SUPER rare for a movie franchise to have 4 installments rank in the 90s on @RottenTomatoes. TOY STORY has done it for animation. SPIDER-MAN & the MCU have done it, but with multiple series. 007 has done it, but w/ 2 Bonds. #MissionImpossible out here making history! pic.twitter.com/r5wq8MGyHJ
— Erik Davis (@ErikDavis) July 6, 2023
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