223,000 tech layoffs in 2023, 60,000 more than 2022’s total, and we are only 7 months in; Nasdaq surpasses Dow by 30% this year, the largest margin since 1971.

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There have now been 223,000 tech layoffs in 2023 and we are only 7 months in.

That's 60,000 more tech layoffs than the entire year of 2022. pic.twitter.com/bcGE9hUdus

— The Kobeissi Letter (@KobeissiLetter) July 30, 2023

"The Nasdaq is outperforming the Dow by more than 30% this year – the widest margin on record in data going back to 1971." – @GunjanJS pic.twitter.com/t4IxNXUBun

— Pomp 🌪 (@APompliano) July 31, 2023

The pandemic bubble was dumb, but this AI bubble is even dumber. pic.twitter.com/wxdOXiKy1Y

— Mac10 (@SuburbanDrone) July 30, 2023

Every time Japan intervenes in YCC they're pumping liquidity into their market by buying bonds. Problem is they need to find that liquidity somewhere, usually by selling foreign treasuries.

So while they're boosting liquidity at home they're draining liquidity from US markets.

— Financelot (@FinanceLancelot) July 31, 2023