The February NFIB survey indicates small business uncertainty is nearing record highs since the 1970s (Apollo).
The Presidents chaotic behavior is crippling business decisions. Plans for expansion are at their lowest level since the pandemic. I still believe it is by design to slow the economy (@dailychartbook).
Businesses are increasingly mentioning tariffs, uncertainty, inflation and immigration (@TheTranscript_).
Credit card data in the DC area corroborates the employment concerns in the region (@rev_cap).
There appears to be a cost to countries who have decided to aggressively decarbonize their grids (@Schuldensuehner).
The next mega trend in renewables is utility-scale batteries (@Guay_JG).
Anecdote around the difficulty building in the developed world. Bureaucracy can kill.
Pharma, healthcare and biotech appear to be cheap (Cemblest).
Despite the relative cheapness of European stocks, they are now in the top quartile of valuations in the past 20 years (@WallStJesus).
The S&P 500 weakness has been nothing more than a garden variety drawdown to this point (@MikeZaccardi).
If the start of the year is any indication, it will be another year of depressed IPO volumes. We are a long way away from the euphoria of 2021 (@MylesUdland).
Last week was the 3rd worst week for the USD since 2020 (@KobeissiLetter).
A sign of the US’s declining global power, they have been unable to safeguard global maritime routes. Ships are still avoiding the Suez canal. I wonder what the annual costs of these trimps extending out 2 weeks are (@teortaxesTex).
