Animal Spirits: Lengthy-Time period Bullish

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“Listed here are years when $SPX was down (20%) or worse on the 9-month mark. Ex-2008, issues bought higher between then and year-end.” – B of A desk pic.twitter.com/JwSxVEJqEE

— Carl Quintanilla (@carlquintanilla) October 3, 2022

ETFs utilized by purchase and maintain traders have seen regular inflows as common, even in Sept as ‘massive lengthy’ advisors nonetheless unfazed. In the meantime, ETFs utilized by merchants seen web zero flows for just a few months now, uncommon sample that’s outcome not of inactivity however ppl coming in then bailing. pic.twitter.com/rPwocMlRSD

— Eric Balchunas (@EricBalchunas) October 3, 2022

GOLDMAN: A weaker financial system “will drive households to proceed promoting shares. .. inflicting a shift in investor mindsets from TINA (‘There Is No Different’) to TARA (‘There Are Affordable Alternate options’) ..
We anticipate households to promote $100 billion in equities in 2023.” [Kostin] pic.twitter.com/rzyULor37M

— Carl Quintanilla (@carlquintanilla) October 3, 2022

The Sept Chicago PMI was 45.7 this AM. Badly lacking the consensus 51.8 and even beneath 49.5, the bottom of 24 estimates by way of Bloomberg.

Only one time has this measure been this low, and it was NOT a recession, Dec 2015.

The opposite 7 instances, it has been 45.7 it was in a recession. pic.twitter.com/bfsUNKjWCw

— Jim Bianco biancoresearch.eth (@biancoresearch) September 30, 2022

FED’S MESTER: RECESSION WON’T STOP FED FROM RAISING RATES

— *Walter Bloomberg (@DeItaone) September 29, 2022

US TREASURY SECRETARY YELLEN: I DON’T SEE ANY ERRATIC FINANCIAL MARKET CONDITIONS.

— Breaking Market Information ⚡️ (@financialjuice) September 27, 2022

GM ends Q3 with 359,292 autos in seller stock — “practically 3 times the stock accessible” on the finish of Q3 2021, notes @knowledge_vital.

The dramatic soar displays “provide chain/manufacturing normalization. As provide chains normalize, so too will inflation.”$GM

— Carl Quintanilla (@carlquintanilla) October 3, 2022

Unbelievable decline in transport charges … value to ship 40-ft container from Shanghai to Los Angeles has fallen by 74% from peak and is again to August 2020 ranges pic.twitter.com/GB40j4SatH

— Liz Ann Sonders (@LizAnnSonders) September 30, 2022

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Animal Spirits: Lengthy-Time period Bullish

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