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Otavio (Tavi) Costa
11.2K posts
Otavio (Tavi) Costa
@TaviCosta
Founder & CEO of Azuria Capital LLC. Macro thinker, history student, value-oriented investor. Native of Sao Paulo, Brazil 🇧🇷 E-mail: [email protected]
- So, the US government not only sold its oil reserves, but it also decided to sell its sour crude rather than sweet. To be clear: The current US refinery infrastructure *requires* sour crude to operate. This is the whole reason why despite the US being the largest oil producer
- Buying conditions for houses just declined to the lowest level in history.
- Silver is now officially considered a critical metal in the US. Game on.
- Meanwhile.... China continues to dump US Treasuries. Their holdings just reached new decade lows.
- Truly remarkable. Nasdaq is just 2.6% from all-time highs while only 35% of its members are above 200-day moving average. Such breath deterioration only happened at the peak of tech bubble. Beware of times when the generals lead but the soldiers don't follow.
- Foreign central banks now officially hold more gold than US Treasuries — for the first time since 1996. Let that sink in. If you think this buying streak is ending, just look at what happened in the 1970s. This is likely the beginning of one of the most significant global
- Fair to say that consumer confidence in China has completely collapsed........
- QT ended up being transitory..... The Fed's balance sheet is now on a V-shape recovery
- The Fed is trapped. Let’s dive in deeper. Thread 👇👇👇
- It's official. Silver just reached its highest quarterly close in history. Game on.
- It’s official. The US Treasury curve is now more than 70% inverted. In the last 50 years of history, every time we have surpassed this threshold a recession followed. We are now at 76% with the Fed still hiking rates and doing QT.
- US state and local governments just experienced the worst decline in income tax revenues ever recorded. This was the second steepest year-over-year percentage decline in history, with only the GFC having a worse outcome. Note that Federal tax receipts are also dropped again,
- "Nothing good happens below the 200-day moving average." — Paul Tudor Jones
