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US Tech is 37% more expensive than the rest of the stock market The only time Tech was pricier than today was in 1999-2003

00:01 - 15/06/22

After a 24% S&P 500 rally off the October lows, US equity investors are finally getting bullish again

Overseas investors are selling shares even in profitable internet giants such as Tencent and Alibaba and have become reluctant to back promising Chinese start-ups

The source of Turkey's financial stress is simple: the current account deficit rose (largely because of a big loosening of credit) without any real increase in the market's willingness to finance Turkey

OPEC+ production cuts were announced in Oct. '22, Apr. '23 and Jun. '23. Oil prices fell on each occasion. OPEC+ decision makers must ask themselves if their cuts make things worse. The global economy teeters on recession. OPEC+ cuts raise recession risk, making oil prices fall.