Global institutional investors have never held so little cash:
Cash allocation by fund managers is down to just 3.2%, the lowest since data began in the 1990s.
This marks a -1.6 percentage point decline since April, one of the fastest drops since the survey started.
Cash… pic.twitter.com/4hoUh1JNNa
— The Kobeissi Letter (@KobeissiLetter) January 22, 2026
BREAKING: The Cass Freight Index dropped -7.5% YoY in December, to 0.93, nearly matching the 2020 pandemic lows.
This index tracks North American freight shipments and is one of the most important indicators of US shipping activity.
This marks the 35th consecutive monthly… pic.twitter.com/8RQnhPukSH
— The Kobeissi Letter (@KobeissiLetter) January 22, 2026
I tried to warn people. Now we're seeing knock-on effects where memory prices are forcing profitable companies to suddenly halt production of products.
There will be mass layoffs soon. https://t.co/QTkAUThtRD
— Financelot (@FinanceLancelot) January 22, 2026