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The Kobeissi Letter
US stocks are falling behind at a historic pace:
The Euro Stoxx 600 index outpaced the S&P 500 by 17 percentage points this quarter, the most on record.
This comes as the Stoxx 600 index rallied +12% in US Dollar terms while the S&P 500 dropped -5%.
Double digit outperformance by European stocks has only happened twice since 2000, in Q4 2022 and Q4 2000.
Furthermore, European stock funds have seen $21 billion of net inflows this year.
At the same time, the US Economic Policy Uncertainty Index is now 70% ABOVE 2008 levels.
More volatility is ahead.
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US stocks are falling behind at a historic pace:
The Euro Stoxx 600 index outpaced the S&P 500 by 17 percentage points this quarter, the most on record.
This comes as the Stoxx 600 index rallied +12% in US Dollar terms while the S&P 500 dropped -5%.
Double digit outperformance by European stocks has only happened twice since 2000, in Q4 2022 and Q4 2000.
Furthermore, European stock funds have seen $21 billion of net inflows this year.
At the same time, the US Economic Policy Uncertainty Index is now 70% ABOVE 2008 levels.
More volatility is ahead.
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet
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The Kobeissi Letter
Barclays with a massive call:
President Trump's reciprocal tariffs on Wednesday may impact as many as 25 countries.
This could be the largest wave of tariffs in a single day in US history.
Buckle up. https://t.co/whaDI0m7IR
tweet
Barclays with a massive call:
President Trump's reciprocal tariffs on Wednesday may impact as many as 25 countries.
This could be the largest wave of tariffs in a single day in US history.
Buckle up. https://t.co/whaDI0m7IR
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet
Offshore
Photo
The Kobeissi Letter
The Kobeissi Letter for the week of March 31st has been published and may be viewed through the link below:
https://t.co/6TDuawkxql
The Chart of the Week for the week of March 31st has been published. View or sign up for FREE through the link below:
https://t.co/jCCx3iTj1h
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The Kobeissi Letter for the week of March 31st has been published and may be viewed through the link below:
https://t.co/6TDuawkxql
The Chart of the Week for the week of March 31st has been published. View or sign up for FREE through the link below:
https://t.co/jCCx3iTj1h
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Offshore
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The Kobeissi Letter
BREAKING: Nasdaq 100 futures fall nearly -200 points at the open as markets prepare for “reciprocal tariffs day.”
Two-day losses now exceed -600 points. https://t.co/uOnqsg0GRQ
tweet
BREAKING: Nasdaq 100 futures fall nearly -200 points at the open as markets prepare for “reciprocal tariffs day.”
Two-day losses now exceed -600 points. https://t.co/uOnqsg0GRQ
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet
Offshore
Photo
The Kobeissi Letter
BREAKING: The S&P 500 is now on track to open in correction territory as investors prepare for reciprocal tariffs.
3-day losses in the S&P 500 are set to exceed -$2.5 trillion at the open. https://t.co/n3X7rfq8kQ
tweet
BREAKING: The S&P 500 is now on track to open in correction territory as investors prepare for reciprocal tariffs.
3-day losses in the S&P 500 are set to exceed -$2.5 trillion at the open. https://t.co/n3X7rfq8kQ
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet
Offshore
Photo
The Kobeissi Letter
Another day, another record high for gold.
Gold has added +$8.5 trillion of market cap since October 2023.
We’ve seen more than 50 all time highs over the last 12 months.
Keep watching gold. https://t.co/Gx0GJzz1V5
tweet
Another day, another record high for gold.
Gold has added +$8.5 trillion of market cap since October 2023.
We’ve seen more than 50 all time highs over the last 12 months.
Keep watching gold. https://t.co/Gx0GJzz1V5
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet
Offshore
Photo
The Kobeissi Letter
BREAKING: Japan’s stock market falls nearly -4% as investors prepare for President Trump’s “Liberation Day.” https://t.co/u6UbR2tcoE
tweet
BREAKING: Japan’s stock market falls nearly -4% as investors prepare for President Trump’s “Liberation Day.” https://t.co/u6UbR2tcoE
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet