To date, Jungkook holds the top two longest-charting Korean solo tracks and longest-charting Korean b-sides on the purchase only list. “Euphoria,” along with “My Time,” his solo song from “Map of the Soul: 7,” also continued their historic sales streak on Billboard’s World Digital Song Sales ranking. The 2018 solo highlighting Jungkook's bright vocals and technical virtuosity also scored the highest streaming tally among all the Korean b-sides on Spotify. With about 292.8 million streams on Spotify, the catchy pop piece has officially broken the impressive record of PSY's global hit "Gangnam Style," for the most-played song by a male Korean artist on the platform. “There is this risk that the Fed will keep interest rates higher for longer, and it will cause something to ultimately break."Euphoria," Jungkook's alluring track from the Bangtan boys' repackaged album "Love Yourself: Answer," has bagged the two new career milestones. “There is a ‘CPI-mission accomplished’ state of mind among many investors at this point, and it’s not the case,” said Nitin Saksena, head of US equity derivatives research at Bank of America. Higher inflation could translate into rates not falling anytime soon. Inflation swaps are pricing in a 3.2% advance in headline inflation in July from a year ago and a 3.6% gain in August. One potential concern is that the easy year-over-year inflation data comparisons will start to drop out later this year, says 22V Research’s Dennis Debusschere. The US central bank is taking a data-dependent approach to future interest-rate hikes, Chair Jerome Powell said on Wednesday. Preliminary data on Thursday showed gross domestic product unexpectedly picked up steam in the second quarter, boosting confidence about the state of the economy and simultaneously fueling bets that the Fed’s campaign against inflation could go on for longer than expected. ![]() But if something goes wrong, it will be related to that.” “There’s an incredible level of confidence that the Fed can manage a ‘soft landing,’ with weaker growth and lower inflation without a recession. ![]() “The market is giving us a clear signal that bullish momentum has been building,” he said. Now neutral on US stocks, Paolini still thinks investors are underpricing potential risks to the economy. Like many on Wall Street, Luca Paolini, chief strategist at Pictet Asset Management, closed a short position on US equities earlier this month amid a relentless rally. Over the past 30 years, September and August have been the two worst months for the S&P 500, with a 0.4% drop in the former and a 0.2% decline in the latter. Then, seasonal patterns can create an additional headwind. This historically has translated into a flat performance for the stock market over the next three months, data compiled by Goldman Sachs Group Inc. The Cboe put-to-call ratio that tracks the volume of options tied to individual stocks is at the lowest level in more than a year. Whether that will happen is yet to be seen, but momentum seems to be getting stretched. ![]() ![]() (Between the premium and the strike price, the contract will be profitable if the S&P 500 falls at least 8.5% a year from now.) That’s the least in the bank’s data going back to 2008. For every $100 in notional - the value an options contract covers - investors now pay only $3.50 for an S&P 500 put option expiring a year from now with a strike price 5% below current levels, data compiled by Bank of America show. Wall Street traders eventually got the memo, ditching downside protection and pushing the cost of hedging against drops to fresh lows. Inflation has been slowly subsiding while the economy has stayed relatively resilient in the face of the most aggressive tightening cycle in decades. Of course, there are reasons for the S&P 500’s rally, now on pace for its fifth consecutive monthly gain.
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