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$SPY vs $RSP ratio

Narrow, thinning,carries excess debt with rates rising in france🔁AI "loop" Q: what straw could break the camel's back? $mags $nvda $ndx $smh

RT @LanceRoberts: While everyone was focused on the NUMBER of jobs last week, what is far more important is the TREND of jobs, which doesn'…

reuters.com/world/yemeni-gov… Fresh reporting: Saudi’s E-W Pipeline halted after a new attack damaged a pumping station at Khurais, east of Riyadh. An energy-sector source told AFP there was “big damage” and the pipeline stopped again❌ #wti #oil $vix $hyg $tnx $qqq $soxx

France is in a debt crisis. The problem is that the ECB has a track record of bailing countries out when things get tough. So politicians don't have an incentive to fix stuff, because they know the ECB will be there. Incentives are broken. The ECB is why. robinjbrooks.substack.com/p/…

I have argued that 2026 S&P EPS are overstated. Big tech is overearning: * Non recurring other income buoying results * Double and triple ordering buoying results * "Creative" depreciation schedules @tomkeene @annmarie @business @squawkbox @cnbcfastmoney @cnbchalftime @TheJudgeCNBC @carlquintanilla @saraeisen @guyadami @lisaabramowicz1 @KeithMcCullough @HedgeyeDJ @gnoble79 @convertbond @peterboockvar @whitneytilson

France budget deficit is epicenter🎯 pushes yields up⬆️ lifts borrowing interest rate "cost of capital"⬆️ AI spending pushes yields⬆️ ...causing a "loop" to France yields⬆️ Watch credit spreads💥💥 $mags $nvda $msft $aapl $goog $intc $meta $amzn $amd $smh $sox $soxx $qqq

RT @great_martis: CCC junk bonds just hit 17%. God help us all.

dollar looks like it is breaking out

One day the market will be more than just 5 hyperscalers using trillions in off balance sheet debt for circular transactions... but not yet: 14th day in a row of more 52 week lows than highs

MSFT, NVDA, AAPL and META alone added about 300 points to the S&P in Q3, more than 200% of the index's total gain. The other 499-ish stocks together subtracted about 150 points: Citadel

🚨 GOLDMAN SACHS DROPS DOOMSDAY STATEMENT: U.S. BONDS HAVE NO BUYERS Goldman Sachs just admitted the long end of U.S. Treasury market is “totally bidless.” Translation: almost nobody wants the 10- to 30-year debt the U.S. is trying to sell. No buyers. None. Zero. While Treasury Secretary Scott Bessent tells Congress we’re in an “illiquid period,” doubles then triples long-bond buybacks, taps the General Treasury Account to fund it and openly says “I am the house.” Yields are surging anyway. The 10-year has pushed toward 5.3% and the 30-year is even higher, levels not seen in years while Japan, one of the biggest foreign holders, keeps selling Treasuries and bringing money home. This was exactly warned by Japan’s @yutokanzakireal that the measures being prepared by Bank of Japan will affect the lives of billions of people and apologized to people of the West. Soon after, Scott Bessent intervened and effectively took over BoJ operations which Japanese policymakers heavily criticized. If the same ”bidless” condition hits the short-dated treasuries market, the entire U.S. debt market (and global) collapses. The U.S. debt crisis will turn into a global liquidity crisis.

10Y yield back up to 5.25%, erased the entire post-payrolls move

Equal Weight S&P 500 on track for its 7th consecutive red week, equaling its 2nd longest losing streak in history 🚨 The other two came during the Dot Com Bust and the 2022 Bear Market 🤯 👀

*US SENDING UP TO 10,000 MORE TROOPS TO MIDDLE EAST : WSJ *US SENDING THIRD AIRCRAFT CARRIER TO MIDDLE EAST: WSJ

Potential credit issues stemming from the Fed's hawkish pivot are now becoming apparent. 5-year CDS spreads have meaningfully widened for both IG & HY credit over the last two weeks. Monitoring this situation.

French 10-year bond yields are the highest relative to similarly-dated German bunds since the European debt crisis 14 years ago. France's borrowing costs have risen above those of Italy and Greece, with the nation facing one of the biggest fiscal deficits in the EU.

Almost 60% of S&P 500 stocks are trading below their 200-day moving average, the weakest market breadth since May 2025 🚨

Credit spreads widening and accelerating..

10 year Treasury reached ~5.34% its highest since 2002. 30-year reached 5.68%. Global duration rising: UK 30-year exceeded 6%, French Japan yields pushing multidecade extreme. Persistent yields tighten❌financial conditions Vix at two-week high Oil bouncing $qqq $soxx $mu $nvda