China has been steadily trimming its holdings of U.S. Treasuries, diversifying reserves into assets such as gold and other currencies while reducing exposure to dollar-denominated debt, per SCMP
But China modestly increased its holdings of US Treasuries in May after they hit an 18-year low in April, per SCMP
But China modestly increased its holdings of US Treasuries in May after they hit an 18-year low in April, per SCMP
Shocking stat of the day:
US semiconductor ETFs have attracted +$46 billion in inflows so far in 2026, on track for their largest annual inflow in history.
This also equals ~31% of their total assets under management.
Year-to-date, these funds have now attracted more than DOUBLE the combined total recorded between January 2017 and December 2025.
As a result, cumulative inflows since 2017 have risen to a record +$68 billion.
Last week alone, these funds attracted another +$2.3 billion in inflows.
Investors have never poured this much money into semiconductor ETFs before.
US semiconductor ETFs have attracted +$46 billion in inflows so far in 2026, on track for their largest annual inflow in history.
This also equals ~31% of their total assets under management.
Year-to-date, these funds have now attracted more than DOUBLE the combined total recorded between January 2017 and December 2025.
As a result, cumulative inflows since 2017 have risen to a record +$68 billion.
Last week alone, these funds attracted another +$2.3 billion in inflows.
Investors have never poured this much money into semiconductor ETFs before.
Everyone is scared of how top heavy this market is. I look at the same chart and see a setup.
The 250 smallest firms in the S&P 500 are down to just 8% of the index. Lowest in over a decade.
When concentration gets this stretched, capital eventually rotates back down the cap scale. The forgotten become the leaders.
Still too early to call the turn. But this is the time to start building your small-cap watchlist, not ignore it.
The 250 smallest firms in the S&P 500 are down to just 8% of the index. Lowest in over a decade.
When concentration gets this stretched, capital eventually rotates back down the cap scale. The forgotten become the leaders.
Still too early to call the turn. But this is the time to start building your small-cap watchlist, not ignore it.
Everyone wants US stocks.
Foreign private sector net purchases of US stocks rose +$35.2 billion MoM in May, to $121 billion, the 2nd-largest inflow on record.
This marks the 2nd consecutive monthly increase.
By comparison, the record monthly inflow was ~$130 billion in November 2024.
Year-to-date, foreign private investors have purchased ~$270 billion of US stocks.
To put this into perspective, foreign investors dumped -$31 billion and -$28 billion of South Korean stocks in June and May, respectively, the two largest monthly outflows on record.
Furthermore, foreign investors also sold -$18 billion of Taiwanese stocks in June, the 2nd-largest sale on record.
Global capital continues to favor US equities over the rest of the world.
Foreign private sector net purchases of US stocks rose +$35.2 billion MoM in May, to $121 billion, the 2nd-largest inflow on record.
This marks the 2nd consecutive monthly increase.
By comparison, the record monthly inflow was ~$130 billion in November 2024.
Year-to-date, foreign private investors have purchased ~$270 billion of US stocks.
To put this into perspective, foreign investors dumped -$31 billion and -$28 billion of South Korean stocks in June and May, respectively, the two largest monthly outflows on record.
Furthermore, foreign investors also sold -$18 billion of Taiwanese stocks in June, the 2nd-largest sale on record.
Global capital continues to favor US equities over the rest of the world.
ASIAN MARKETS TELL TWO VERY DIFFERENT STORIES
🔴 Nikkei 225: -4.03%
🔴 KOSPI: -3.15%
🟢 Hang Seng: +2.04%
🟢 Shanghai Composite: +0.49%
The AI-driven selloff continues to weigh on Japan and South Korea, with semiconductor stocks leading the losses.
At the same time, investors are rotating back into Chinese equities, lifting Hong Kong and mainland markets despite rising global uncertainty.
🔴 Nikkei 225: -4.03%
🔴 KOSPI: -3.15%
🟢 Hang Seng: +2.04%
🟢 Shanghai Composite: +0.49%
The AI-driven selloff continues to weigh on Japan and South Korea, with semiconductor stocks leading the losses.
At the same time, investors are rotating back into Chinese equities, lifting Hong Kong and mainland markets despite rising global uncertainty.
ETH/SPX ratio is testing major long-term support near the lower end of its multi-year range.
Bulls are hoping for a reclaim of the red resistance zone to turn this into a deviation below the range.
Failure to hold here would mark a loss of the 4-year range and confirm a bearish trend in relative strength.
Bulls are hoping for a reclaim of the red resistance zone to turn this into a deviation below the range.
Failure to hold here would mark a loss of the 4-year range and confirm a bearish trend in relative strength.
THE COST OF AI IS COLLAPSING
The cost of AI has declined as much in the last three years as personal computer prices fell over the first 15 years of the PC revolution.
As models become cheaper to train and run, the cost of deploying AI across products and services continues to fall.
Lower costs are accelerating adoption, making advanced AI accessible to more businesses, developers, and consumers than ever before.
The cost of AI has declined as much in the last three years as personal computer prices fell over the first 15 years of the PC revolution.
As models become cheaper to train and run, the cost of deploying AI across products and services continues to fall.
Lower costs are accelerating adoption, making advanced AI accessible to more businesses, developers, and consumers than ever before.
Strategy Sells $263.5M in MSTR Shares, Makes No Bitcoin Purchases
Strategy said it sold 2.73 million MSTR shares for $263.5 million in net proceeds between July 13 and July 19. The company made no bitcoin purchases during the week, leaving its holdings unchanged at 843,775 BTC, acquired for $63.69 billion at an average price of $75,476 per BTC. Its U.S. dollar reserve increased to $3.225 billion.
Strategy said it sold 2.73 million MSTR shares for $263.5 million in net proceeds between July 13 and July 19. The company made no bitcoin purchases during the week, leaving its holdings unchanged at 843,775 BTC, acquired for $63.69 billion at an average price of $75,476 per BTC. Its U.S. dollar reserve increased to $3.225 billion.
AI is accelerating US business formation:
The number of businesses in AI-related sectors, including professional, scientific, and technical services, has grown +45% since the launch of ChatGPT in November 2022.
By comparison, the number of construction businesses has increased +10% over the same period.
Furthermore, business creation has risen +20% across the broader US economy.
The Census Bureau now projects +29,700 new businesses will form monthly nationwide over the next year, up +17% YoY.
Professional services are expected to account for more than 5,000 new businesses per month, a record for the sector and up +24% YoY.
AI is fueling a new wave of entrepreneurship.
The number of businesses in AI-related sectors, including professional, scientific, and technical services, has grown +45% since the launch of ChatGPT in November 2022.
By comparison, the number of construction businesses has increased +10% over the same period.
Furthermore, business creation has risen +20% across the broader US economy.
The Census Bureau now projects +29,700 new businesses will form monthly nationwide over the next year, up +17% YoY.
Professional services are expected to account for more than 5,000 new businesses per month, a record for the sector and up +24% YoY.
AI is fueling a new wave of entrepreneurship.
NEW: Australian woman gives birth to identical quadruplets — estimated to occur in 1 in every 15 million pregnancies.
Hedge funds are dumping US tech stocks at a record pace:
Hedge funds have sold information technology stocks in 6 of the last 8 weeks.
This brings total 8-week sales to the largest in at least 10 years.
Last week alone, technology was the most-sold US sector among hedge funds.
As a result, tech exposure as a % of total market exposure is down to its lowest since February 2026.
At this rate, tech exposure could fall to its lowest in at least 5 years as early as next week.
Hedge funds are rapidly moving to the sidelines.
Hedge funds have sold information technology stocks in 6 of the last 8 weeks.
This brings total 8-week sales to the largest in at least 10 years.
Last week alone, technology was the most-sold US sector among hedge funds.
As a result, tech exposure as a % of total market exposure is down to its lowest since February 2026.
At this rate, tech exposure could fall to its lowest in at least 5 years as early as next week.
Hedge funds are rapidly moving to the sidelines.
IBCI Weekly rises to 9.52 points, still in Accumulation Zone 🟢
The indicator returned to level of two months ago
#Bitcoin 🔻🔺
The indicator returned to level of two months ago
#Bitcoin 🔻🔺