Hedge funds are shorting stocks again, boosting leverage to new record. Chicago PMI plunges to four-month low, sinks to 40.5 in May. Supercore PCE turns negative for the first time since covid.

The Chicago Purchasing Managers’ Index fell for a second straight month to its lowest level in four months. The index sank to 40.5 this month from 44.6 in April, falling short of the 45.1 forecast. The latest reading marks the …

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The rate cut boosts bank profits but fails to lower mortgage rates, while the US 30-year and 3-month yield spread edges up.

https://twitter.com/RJRCapital/status/1836734007062470665 US 30 Yr minus the 3-month pic.twitter.com/f1UqwiYV2Z — Michael J. Kramer (@MichaelMOTTCM) September 19, 2024 https://twitter.com/RJRCapital/status/1836735432463102043 hedge funds starting to hedge with short bonds ETFs Macro furus long bonds in shambles — Alessio (@AlessioTMAD) September 19, 2024 Cuts ✂️ …

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