Daily Charts - Emerging Markets

Prices for luxury Swiss watches are near the lowest level in ~2 years on the secondary market as Rolex and Patek Philippe models continue falling from record highs in early 2022.

The population growth data has people making some interesting charts. To be fair, more than 1 person can live in a house but the math still doesn’t work. Hopefully, we can figure out how to build more housing.

There's an estimated $331B of fixed rate mortgages in Canada coming up for renewal in 2024. These borrowers could be renewing at materially higher rates.

Bloomberg’s spot commodities index is at almost exactly the price at which it entered the 1990s.

As markets celebrate the soft landing, I think it’s important to look at this chart of the Fed Funds Rate (FFR). The last time the FFR was this high we got the global financial crisis and the time before that dot com bust/Asian financial crisis.

Higher funding costs are causing bankruptcies to tick up.

This month has been the second-largest Treasury issuance in history.

The rise in yields, means credit investors have a lot more interesting things to look at.

Goldman thinks Emerging Markets will dominate global market cap over the next 50 years.

This is what the data looks like today, US market cap is more than 3x larger than EM.

Developed markets fall from 73% of the market to less than 50%.

They expect India India’s stock market to grow to the size of China's.

Some themes a macro hedge fund is playing on the long and short side.

Every D1 college in the US, interesting to see the West ex California.

Won’t be writing again until the 5th. Enjoy your long weekends!