The Kobeissi Letter

@KobeissiLetter

Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: [email protected]

  1. #1

    US hiring plans are improving: US-based employers announced plans to add 16,095 jobs in July, marking a +47% increase from 10,933 in June, the strongest July total since 2022. By…

    The Kobeissi Letter @KobeissiLetter ·
    US hiring plans are improving: US-based employers announced plans to add 16,095…
  2. #2

    BREAKING: Unrealized losses on domestic bond holdings for Japan's 4 largest life insurers rose +7% in Q2 2026, to a record $96 billion. All 4 insurers, Nippon Life, Daiichi Life,…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: Unrealized losses on domestic bond holdings for Japan's 4 largest lif…
  3. #3

    Hedge funds are rapidly unwinding their bearish Yen bets following US-Japan FX intervention: Leveraged funds cut their net short Yen positions by -74,440 contracts, to 63,600 cont…

    The Kobeissi Letter @KobeissiLetter ·
    Hedge funds are rapidly unwinding their bearish Yen bets following US-Japan FX…
  4. #4

    The Kobeissi Letter for the week of August 10th has been published and may be viewed through the link below: https://t.co/9c65UCffkW The Chart of the Week for the week of August 1…

    The Kobeissi Letter @KobeissiLetter ·
  5. #5

    BREAKING: President Trump says he is “low keying it with Iran” and he is prepared to allow economic pressure to mount as opposed to ordering a new military offensive, per Axios. D…

    The Kobeissi Letter @KobeissiLetter ·
  6. #6

    BREAKING: Global equity funds attracted +$21.2 billion in inflows in the week ending August 5th. This follows +$27.7 billion in inflows the week prior and marks the 11th consecuti…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: Global equity funds attracted +$21.2 billion in inflows in the week e…
  7. #7

    BREAKING: President Trump has been floating the idea privately to senior aides that he's willing to "walk away" from the Iran War without a nuclear deal should Iran fully reopen t…

    The Kobeissi Letter @KobeissiLetter ·
  8. #8

    Key Events This Week: 1. July Existing Home Sales data - Tuesday 2. OPEC Monthly Report - Wednesday 3. July CPI Inflation data - Wednesday 4. July PPI Inflation data - Thursday 5.…

    The Kobeissi Letter @KobeissiLetter ·
  9. #9

    Wall Street is paying less attention to the Magnificent 7: Monthly mentions of the "Magnificent Seven" across news stories on the Bloomberg terminal are down to ~1,400, near the l…

    The Kobeissi Letter @KobeissiLetter ·
    Wall Street is paying less attention to the Magnificent 7: Monthly mentions of…
  10. #10

    BREAKING: China’s central bank officially added +20 tonnes of gold in July, its largest monthly purchase since October 2023. This follows +15 tonnes and +10 tonnes acquired in Jun…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: China’s central bank officially added +20 tonnes of gold in July, its…
  11. #11

    Record highs are back. What comes next? The S&P 500 has risen in 13 of the last 17 instances following a significant breakout to an all-time high over the last 30 years. Durin…

    The Kobeissi Letter @KobeissiLetter ·
    Record highs are back. What comes next? The S&P 500 has risen in 13 of the…
  12. #12

    South Korean retail investors are turning to US stocks amid domestic market turmoil: Retail investors from South Korea bought +$4.6 billion worth of US stocks in July, the largest…

    The Kobeissi Letter @KobeissiLetter ·
    South Korean retail investors are turning to US stocks amid domestic market tur…
  13. #13

    BREAKING: US corporate profits before tax as a % of GDP are up to a record 14%. This ratio has nearly doubled since the 2008 Financial Crisis. This also exceeds previous peaks of…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: US corporate profits before tax as a % of GDP are up to a record 14%.…
  14. #14

    Investors are worried about Big Tech's debt. Oracle's, $ORCL, 5-year credit default swap (CDS) has surged +70 basis points year-to-date, to a record ~215 basis points, the largest…

    The Kobeissi Letter @KobeissiLetter ·
    Investors are worried about Big Tech's debt. Oracle's, $ORCL, 5-year credit def…
  15. #15

    US crude oil inventories are experiencing an unprecedented decline: Total US crude oil inventories have fallen for 17 consecutive weeks, the longest streak on record. This surpass…

    The Kobeissi Letter @KobeissiLetter ·
    US crude oil inventories are experiencing an unprecedented decline: Total US cr…
  16. #16

    BREAKING: Berkshire Hathaway has begun deploying the $397.4 billion cash pile that Warren Buffett accumulated for 14 consecutive quarters. Details include: 1. Instead of continuin…

    The Kobeissi Letter @KobeissiLetter ·
  17. #17

    This is absolutely incredible. Corporate America is currently on pace for the biggest earnings beat EVER recorded. S&P 500 companies are beating earnings per share estimates b…

    The Kobeissi Letter @KobeissiLetter ·
  18. #18

    BREAKING: The S&P 500 closes at the highest level on record, up another +3.6% this week. The S&P 500 added +$2.5 trillion in market cap this week.

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: The S&P 500 closes at the highest level on record, up another +3.…
  19. #19

    Layoffs across the information sector are accelerating: The layoff rate in the information sector jumped +0.7 percentage points in June, to 2.3%, the 3rd-highest since the 2020 pa…

    The Kobeissi Letter @KobeissiLetter ·
    Layoffs across the information sector are accelerating: The layoff rate in the…
  20. #20

    Most people don't realize how big of a growth wave we are currently experiencing. So far, with 88% of S&P 500 companies reporting earnings, the index has posted +50.4% growth…

    The Kobeissi Letter @KobeissiLetter ·
  21. #21

    US productivity growth is accelerating: US labor productivity rose +1.4% annualized rate in Q2 2026, more than double the +0.6% expected. This follows an upwardly revised +0.8% in…

    The Kobeissi Letter @KobeissiLetter ·
    US productivity growth is accelerating: US labor productivity rose +1.4% annual…
  22. #22

    BREAKING: Global physical gold-backed ETFs posted +$3.0 billion in inflows in July, the largest monthly intake since April. This pushed global gold ETF holdings up +23 tonnes, to…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: Global physical gold-backed ETFs posted +$3.0 billion in inflows in J…
  23. #23

    US refiners have shifted away from Saudi oil: US imports of Saudi Arabian crude fell to zero in July, marking the first full month without imports since 1985, according to prelimi…

    The Kobeissi Letter @KobeissiLetter ·
    US refiners have shifted away from Saudi oil: US imports of Saudi Arabian crude…
  24. #24

    BREAKING: Gold futures surge above $4,400/oz to their highest level since June 5th on news that the US economy lost -23,000 jobs in July. Gold is now up more than +10% in over the…

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: Gold futures surge above $4,400/oz to their highest level since June…
  25. #25

    BREAKING: The US economy unexpectedly loses -23,000 jobs in July, well below expectations of +85,000. The unemployment rate fell to 4.1%, below expectations of 4.2%. June's jobs n…

    The Kobeissi Letter @KobeissiLetter ·
  26. #26

    BREAKING: Spot silver prices rise +5% toward $65/oz, now up over +12% this week. Gold futures are nearing $4,400/oz, now at a fresh 8-week high.

    The Kobeissi Letter @KobeissiLetter ·
    BREAKING: Spot silver prices rise +5% toward $65/oz, now up over +12% this week… BREAKING: Spot silver prices rise +5% toward $65/oz, now up over +12% this week…
  27. #27

    ANNOUNCEMENT: We are excited to present The Kobeissi Letter’s 2025 performance report. Our analysis provided a net return of +30.7% in 2025, outperforming the S&P 500's 2025 r…

    The Kobeissi Letter @KobeissiLetter ·
    ANNOUNCEMENT: We are excited to present The Kobeissi Letter’s 2025 performance… ANNOUNCEMENT: We are excited to present The Kobeissi Letter’s 2025 performance…