The "backwardation" of the monetary and credit cyclesIn 2022, the money and credit cycles in China and the United States diverged markedly. China chose to cut interest rates and money supply growth accelerated, with M2 increasing by RMB 25.8 trillion for the year 2023. The U.S., on the other hand, raised interest rates, and the year-over-year growth rate of money supply turned negative, with a net decrease in M2 of $504.3 billion.United States: "New tricks" for second mortgagesThe U.S. real estate market faces constraints of insufficient housing supply, and home prices continue to climb. The wealth effect on residents from rising home prices has been significant, but refinancing a mortgage is not cost-effective in the current environment of high mortgage rates. Therefore, Freddie Mac
May's Done! What's the June Game Plan?
The anticipated May sell-off in the market didn't materialize. As of May 30th, the S&P 500 rose by 4% this month. Thanks to Nvidia's earnings significantly exceeding expectations, both AI and semiconductor investors made substantial gains in May. --------------------- Share your profits in May! Has the May uptrend ended? How will you trade in June?
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