The average home price in the US is up over 53% in the last 5 years, more than double the increase in wages. The widening gap between prices and incomes has led to the least affordable housing market in history.

Excess liquidity is moving sharply lower, which may not bode well for global risk appetite

US Home Prices hit another all-time high in November, rising 3.8% over the prior year. Meanwhile, affordability remains near record lows.

One reason DeepSeek's model was much cheaper to train is based on it being an MoE (or mixture of experts) model

China is the first country in history to record a trade surplus of 1$ trillion, per Bloomberg