Friday, June 28, 2024

Bonds tumble after debate

And Nike's worst day in 23 years
 
   
     
Friday, June 28th
 
"Beware of looking for goals: look for a way of life. Decide how you want to live and then see what you can do to make a living WITHIN that way of life."

— Hunter S. Thompson
---------- Markets Today ----------
 
🌏 Asia-Pacific: Up
🇪🇺 Europe: Down
🇺🇸 United States: Up
🛢️ Oil: Down
⚡ Crypto: Down

 
------- Major Market Events -------
 
Inflation only rose a little: Core PCE measure came in at 3.4% (link)
 
Nike's worst day in 23 years: The stock is down 17%. (link)
 
Buffet donates billions: Another $5.3 billion of his wealth goes to charities (link)​​
🤔 My Thoughts 

Well, I guess there's no getting around the elephant in the room:

The Presidential debate last night. We're not going to dive into much into politics, but I think it was clear to everyone who watched that Biden is simply not on a cognitive level to handle his job. Now, whether they try to replace him or not is anyone's guess. But his lackluster performance has caused bonds to jump today....

The 10-yr and 30-year are both up over 1% today. Signaling that Biden's decline is a fundamental threat to the U.S. market. These next five months will be super interesting! 
 
How Senators Consistently Outperform 90% of the market

Back in 2023, the S&P 500 produced a whooping 24% return…

But as high as that was, many members of congress managed to outperform the S&P 500…

Heck some congressmen made as much as 2 times, 3 times and even as high as 9 times the S&P 500’s returns.

Here’s how they did it and how you can too.
 
To Better Trading,

Alex Reid
Wealthpin
 
WealthPin
   
     
   
 

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