TextSearch

Update: Italy and Spain have also been confirmed as a state that refused passage above its airspace to Bolivia’s Morales.Moments ago a rather surreal episode of international diplomacy, or rather lack thereof, took place when the airplane of Bolivian President Evo Morales was forced to land in Aus…

Bolivian President Plane Denied Passage Over French, Portuguese, Spanish, Italian Airspace Due To Snowden Suspicions | ZeroHedge HomePremiumContributorsChannelsAllBailoutCommoditiesCOVID-19CryptoEconomicsEnergyGeopoliticalMarketsMedicalMilitaryPersonal-FinancePoliticalTechnologyWeatherPartnersThe Market EarSpotGammaMerchAboutMoreRSSDonateAdvertiseLOGINLoginUsernamePasswordLoginCreate new accountReset your passwordThis site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.ZeroHedge ReadsAlt-MarketAntiWar.comBitcoin MagazineBombthrowerBULLIONSTARCapitalist ExploitsChristophe BarraudDollar CollapseDr. Housing BubbleFinancial RevolutionistForexLiveGains Pains & CapitalGefiraGMG ResearchGold CoreImplode-ExplodeInsider PaperLiberty BlitzkriegMax KeiserMises InstituteMish TalkNewsquawkOf Two MindsOil PriceOpen The BooksPeter SchiffQTR’s Fringe FinanceSafehavenSlope of HopeSpotGammaTF Metals ReportThe Automatic EarthThe Burning PlatformThe Economic PopulistThe Libertarian InstituteThe SakerThemis TradingValue WalkVisual Combat Banzai7Wolf StreetExpandBolivian President Plane Denied Passage Over French, Portuguese, Spanish, Italian Airspace Due To Snowden Suspicionsby Tyler DurdenTuesday, Jul 02, 2013 - 04:02 PMThis article is archived.Upgrade to premium to access all of the ZeroHedge archive.Already a member? Sign in.Introducing ZeroHedge Premium. Why Premium?PREMIUMJack's Lack Of CensorshipONLY $25/MONTHBILLED ANNUALLY OR $30 MONTHLYAll BASIC features, plus:- Ad-free environment- Unmoderated comment section- Premium commentary features including user tiering and comment tracking (coming soon)- Access to private, invitation-only Zerohedge twitter account- Exclusive access to The Market Ear content- Access to Newsquawk breaking news and market squawks, and discount for real-time commentary- Early glimpse at all our postsSELECTPROFESSIONALProject MayhemONLY $85/MONTHBILLED ANNUALLY OR $100 MONTHLYAll PREMIUM features, plus:- Access to our constantly updated research database via a private dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)- Notifications for new posts, breaking news and comment replies (coming soon)- Discord-based chat and commentary rooms (coming soon)Contact us about Enterprise Solutions priced at $5,000/moSELECT37,426Trending on ZerohedgeTesla Cybertruck Vs. Toyota Corolla In Real-World CrashWhat 'Great Replacement Theory'? Musk Exposes "Immense & Growing Size" Of Illegal Immigration InvasionThe New Blue Screen Of Death? "Your Vehicle Cannot Be Driven"Want more of the news you won't get anywhere else?Sign up now and get a curated daily recap of the most popular and important stories delivered right to your inbox.RIP Dash-for-Cash Guess that's why they call it a bull 1. Dow Jones Industrials closed at another all-time high and has traded green in 12 of the last 14 days 2. S&P 500 is on track for its 9th consecutive green week, which would be its longest winning streak in 20 years 3. Mega Cap Tech Stocks continue surging as the Nasdaq 100 hit an all-time high. IUXX is on track for its best year since 1999. What happens after ATH? "The S&P 500 has outperformed its long-term average one-, three-, six-, and 12-months later. The one-month returns are not quite as strong, suggesting a short-term overbought condition in some cases. One year latter, the S&P 500 has risen 13 out of 14 times by a median of 13.4%. If the S&P 500 can confirm the DJIA’s December 13 all-time high, it would support the case for further gains." Source: Ned Davis   RIP "dash for cash" It was an insane year in terms of money market inflows. Source: EPFR   The MMF ATH US money market funds total AUM ($5.87 T)... Source: Bloomberg   MMF flows vs recession probabilities There have been several instances over the last 10 years when investors have aggressively rotated out of money market funds as the probability of a recession dropped. Source: Goldman   When MMF flows revert The last time MMF flows really reverted (2009) was a very good time to own equities and there was a "dash-out-of-cash" for 3 years.... Source: Goldman   A "lull" in volatility The end of a rate-hiking cycle tends to see a "lull” in equity volatility. Source: BNP Paribas   8 cuts "We expect three consecutive 25bp cuts in March, May, and June, followed by one cut per quarter (or every other meeting) until the funds rate reaches a terminal rate of 3.25-3.5% in 2025Q3. Our forecast implies 5 cuts in 2024 and 3 more cuts in 2025." Source: Goldman   Paying clients Paying clients have this week been able to read the following: 1. How truly magnificent the Magnificent 7 are 2. A deep-dive into the stretched sentiment & positioning 3. The best housing crash ever 4. If the Santa rally can continue. Become a paying subscriber here: https://www.zerohedge.com/premium 2 days ago at 3:38One asset class to rule them all109% Magnificent 7 hit a fresh All Time High. Now up 109% for 2023. Time for a quick recap thread on how truly magnificent they are. When I ruled the world The Magnificent 7 have a higher weighting in the MSCI World index than all of the stocks in the UK, China, France and Japan combined. Source: MSCI   Seas would rise when I gave the word The Big 6 are set to add $4.83 trn of market cap in 2023 – that amount ‘added’ is larger than the current nominal GDP of every country not named the US or China ..(GS) The biggest companies can’t possibly get any bigger…  Why not 20%....? Source: Bilello   Tech crushing it on inflows Globally, tech inflows are well ahead this year. Source: Barclays   Room to buy Allocation to technology according to FMS is only 0.3 stdev above its long-term average. Source: BofA FMS   Hmmmm.....are you telling me this is the top? Question: "Are you more or less inclined to be long the ‘magnificent 7’ stocks (i.e. AAPL, MSFT, GOOGL, AMZN, NVDA, TSLA and META) after their Q3 earnings reports?" Source: JPM cross-asset survey   Very long Magnificent 7 Hedge fund exposure at record highs (but relatively...). Source: GS Prime   Earnings drive stocks NDX vs SPX in terms of price relative and earnings relative. Source: Goldman   Why not 45x? Average P/E ratio of Magnificent 7 now stands at 35x. Source: Bloomberg   NVDA and the overbought fallacy It’s “overbought” or “at resistance” (and expensive) and can’t possibly go any higher… Source: Bilello 2 days ago at 9:42Upgrade to PremiumToday's Top Stories PreviousTesla Cybertruck Vs. Toyota Corolla In Real-World CrashWhat 'Great Replacement Theory'? Musk Exposes "Immense & Growing Size" Of Illegal Immigration InvasionThe New Blue Screen Of Death? "Your Vehicle Cannot Be Driven"After Maine, Matt Taibbi Asks 'Is There Any Way This Ends Well?'Escobar: How Yemen Changed Everything"We Have Reached A Breaking Point"Study Finds COVID Vaccination Independently Associated With Long COVID SyndromeUS Military Launches Highly Classified Unmanned Space PlanePowell's Pivot Adds $20 Trillion To Global Debt/Equity Markets In 2023; 'Fiat Alternatives' FlyChina & Iraq Begin Construction Of New City Near Baghdad Next Contact Information+Assistance and Requests: Click hereTips: [email protected]: [email protected]: [email protected]: Click hereAbuse/Complaints: [email protected] Reading+Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" GuideIt would be very wise of you to study our privacy policy and our (non)policy on conflicts / full disclosure.Here's our Cookie Policy.  How to report offensive commentsNotice on Racial Discrimination. Discrimination NoticePrivacy PolicyDisclosureDisclaimerAdvertise with ZeroHedgeCopyright ©2009-2023 ZeroHedge.com/ABC Media, LTD