В целом, поддерживаем позицию Миши Бьюрри по вопросам «Sell» & «This time is different».
На картинке изображены ставки по федеральным фондам (белым, правая шкала) и обвал индекса SP500 (желтым) на 42% в 2001-2002 годах. Есть такое золотое правило — американские рынки всерьез не падают, пока ФРС не начинает снижать процентные ставки = признание реального сокращения экономики. Это как с рецессией, которую объявляют постфактум, эдак через 9-12 месяцев.
В целом, поддерживаем позицию Миши Бьюрри по вопросам «Sell» & «This time is different».
На картинке изображены ставки по федеральным фондам (белым, правая шкала) и обвал индекса SP500 (желтым) на 42% в 2001-2002 годах. Есть такое золотое правило — американские рынки всерьез не падают, пока ФРС не начинает снижать процентные ставки = признание реального сокращения экономики. Это как с рецессией, которую объявляют постфактум, эдак через 9-12 месяцев.
But Telegram says people want to keep their chat history when they get a new phone, and they like having a data backup that will sync their chats across multiple devices. And that is why they let people choose whether they want their messages to be encrypted or not. When not turned on, though, chats are stored on Telegram's services, which are scattered throughout the world. But it has "disclosed 0 bytes of user data to third parties, including governments," Telegram states on its website. Anastasia Vlasova/Getty Images Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future.
from fr
