Τα Διαγράμματα της ημέρας

The disconnect between Fed net liquidity (grey) and the S&P 500 (purple) is growing by the day

00:01 - 27/07/22

ECB deleveraging continues. Ahead of this weeks meeting, CenBank shrank its balance sheet by €18.6bn to  €7,186.9bn as matured bonds were not replaced by new ones. ECB's total assets are now equal to 53% of Eurozone GDP vs Fed's 31%, SNB's 121%, BoJ's 129%.

US Home Price Appreciation by City...

Call volume is outpacing put volume significantly of late, in yet another sign of exuberant market expectations

What's going on in German manufacturing is very bad. Headline manufacturing PMI (black) and forward-looking orders - inventories (blue) are worse than at the height of the energy shock in 2022. A sign that the energy shock is far from over and is weighing on "Standort" Germany..