Animal Spirits: Lengthy-Time period Bullish

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“Listed below are years when $SPX was down (20%) or worse on the 9-month mark. Ex-2008, issues acquired higher between then and year-end.” – B of A desk pic.twitter.com/JwSxVEJqEE

— Carl Quintanilla (@carlquintanilla) October 3, 2022

ETFs utilized by purchase and maintain buyers have seen regular inflows as ordinary, even in Sept as ‘large lengthy’ advisors nonetheless unfazed. In the meantime, ETFs utilized by merchants seen internet zero flows for just a few months now, uncommon sample that’s consequence not of inactivity however ppl coming in then bailing. pic.twitter.com/rPwocMlRSD

— Eric Balchunas (@EricBalchunas) October 3, 2022

GOLDMAN: A weaker economic system “will drive households to proceed promoting shares. .. inflicting a shift in investor mindsets from TINA (‘There Is No Different’) to TARA (‘There Are Cheap Alternate options’) ..
We anticipate households to promote $100 billion in equities in 2023.” [Kostin] pic.twitter.com/rzyULor37M

— Carl Quintanilla (@carlquintanilla) October 3, 2022

The Sept Chicago PMI was 45.7 this AM. Badly lacking the consensus 51.8 and even under 49.5, the bottom of 24 estimates through Bloomberg.

Just one time has this measure been this low, and it was NOT a recession, Dec 2015.

The opposite 7 occasions, it has been 45.7 it was in a recession. pic.twitter.com/bfsUNKjWCw

— Jim Bianco biancoresearch.eth (@biancoresearch) September 30, 2022

FED’S MESTER: RECESSION WON’T STOP FED FROM RAISING RATES

— *Walter Bloomberg (@DeItaone) September 29, 2022

US TREASURY SECRETARY YELLEN: I DON’T SEE ANY ERRATIC FINANCIAL MARKET CONDITIONS.

— Breaking Market Information ⚡️ (@financialjuice) September 27, 2022

GM ends Q3 with 359,292 autos in vendor stock — “almost thrice the stock obtainable” on the finish of Q3 2021, notes @knowledge_vital.

The dramatic leap displays “provide chain/manufacturing normalization. As provide chains normalize, so too will inflation.”$GM

— Carl Quintanilla (@carlquintanilla) October 3, 2022

Unbelievable decline in transport charges … value to ship 40-ft container from Shanghai to Los Angeles has fallen by 74% from peak and is again to August 2020 ranges pic.twitter.com/GB40j4SatH

— Liz Ann Sonders (@LizAnnSonders) September 30, 2022

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