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1. Yields Hit One-Year High Before CPI/PPI Data

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2. Apple iPhone Slumps to Third Place in China

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3. Apple Correction -12%

Chart to watch with AAPL huge market weighting.

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4. Home for Rent Stocks

^{From WSJ: Shares of single-family landlords Invitation Homes INVH ( 1.90% increase - green up pointing triangle) and American Homes 4 Rent (AMH 1.25% increase) are trading at 35% and 20% discounts to their net asset values, respectively, according to real-estate analytics firm Green Street. Invitation Homes’ stock has traded at a particularly large discount to NAV since interest rates began to rise in early 2022, but the gap has widened by 10 percentage points in the past year.} 

^{Put another way, while the average house in the metro areas where Invitation Homes owns its properties sells for $415,000 based on Green Street’s analysis of prevailing market values, the company’s share price implies that investors think $310,000 is more appropriate.}

Invitation Homes

American Homes

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5. UNG Natural Gas Fund +17% YTD

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6. Biotech No Bounce

XBI -4% YTD….and -12% in last 6 months.

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7. Mag 7 Pulls Away from Euro Granola Stocks

Europe gains have also been concentrated in one group of stocks.

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8. Share Total of U.S. Debt by Presidential Term

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9. Iran Exports 90% of Oil to China

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10. Increased ChatGPT Use

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