Below are some of the most interesting articles, quotes and charts I came across this week. Click here to subscribe to our free weekly newsletter and get this post delivered to your inbox each Saturday morning.
Ken Griffin shared some thoughts this week on the “sea change” markets have suffered in recent years.
'Citadel founder Ken Griffin said the world is facing unrest and structural changes that are pushing it toward de-globalization and causing higher baseline inflation that may last "for decades."' https://t.co/jvtIAyEDxC
— Jesse Felder (@jessefelder) November 9, 2023
As he points out, the world is facing growing “unrest”…
What an interesting chart.
This is the largest number of workers on strike in the history of the data.
Corporate profit margins remain comfortably above their typical averages, leaving room to absorb elevated labor costs as profits dwindle.
Needless to say that this… pic.twitter.com/Ckn6vMfwsv
— Otavio (Tavi) Costa (@TaviCosta) November 5, 2023
…along with key “structural changes”…
'Estimated annualized interest payments on the US government debt pile climbed past $1 trillion at the end of last month. That amount has doubled in the past 19 months, and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022.' https://t.co/YXEyJMAlKt pic.twitter.com/do4uhakTWl
— Jesse Felder (@jessefelder) November 7, 2023
…while the trend in globalization shifts into reverse…
— Jesse Felder (@jessefelder) November 10, 2023
…potentially playing catalyst for a wholesale shift in the investing paradigm.
"The relative value of real assets to financial assets is highly correlated with inflation (~70% since 1970), making them an excellent hedge against rising inflation and interest rates in coming years."
– BofA Hartnett pic.twitter.com/E9oPcLXO11
— Daily Chartbook (@dailychartbook) November 9, 2023
Thanks for reading and have a great weekend!