The Fed's balance sheet is now at its lowest level since January 2021, down $1.6 trillion from its peak in April 2022.

How much more QT is needed to unwind the massive QE from March 2020 - April 2022?

$3.2 trillion.

Will that unwind ever happen?

Probably not - Fed announced…

KNICKS WIN!!!!

Apple $AAPL CEO Tim Cook just confirmed:

Apple has “big plans to announce” from an “AI point of view” during its iPad event next week as well as at the company’s annual developer conference in June - CNBC

BREAKING: Apple stock, $AAPL, surges after the company announces a $110 BILLION share buyback, the largest in history.

Apple reported quarterly revenue of $90.8 billion and EPS of $1.53, both of which were above expectations.

However, revenue in Greater China was down by 8.1%…

Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10% CNBC cnbc.com/2024/05/02/app…

Call your magnificent 7.

Everyone waiting for a Fed cut like a drug addict waiting for their next fix.

BREAKING: Israeli strikes near Damascus

Stocks were choppy yesterday after the Fed but it's been a smooth ride higher today. Will the April jobs report keep the rally going tomorrow? Economists expecting 233K jobs added, slowdown from 303K in March. Unemployment rate forecast to hold steady at 3.8%.

The below, from NBC News, helps explain why voters' perception of the Biden Administration's economic management remains so low despite two years of an unemployment rate below 4%, a very strong historical performance.
As more households get priced out of basic consumer…

Israel says Turkey's Erdogan is breaking agreements by blocking ports for trade reuters.com/world/middle-e…

Peloton CEO Barry mccarthy steps down and does not hold back in his memo:

“I once described turnarounds as a full contact sport; intellectually challenging, emotionally draining, physically exhausting, and all consuming. From where I sit today, that pretty much summarizes my…

$PARA on $26bn potential $SONY & $APO bid

Up 10% since tweet

x.com/SpecialSitsNew…

Private-equity firm Apollo Global Management and Sony Pictures have submitted an offer letter for Paramount Global wsj.com/business/deals… via The Wall Street Journal

JPMAM ETF exec Bryon Lake to join Goldman Sachs Asset Management as a partner, source says pionline.com/exchange-trade… via Pensions & Investments Kathie O'Donnell

Emerging Markets are up 8 of the last 9 days. And like nobody is talking about it.

Trump Auditions VP Picks Before Wealthy Donors in Palm Beach via ⁦Bloomberg⁩ bloomberg.com/news/articles/…

Turkey Halts All Trade With Israel: Officials via ⁦Bloomberg⁩ bloomberg.com/news/articles/…

Global Central Bank Update:
-Czech Republic lowered rates for the 4th meeting in a row, 50 bps cut to 5.25%.

Emerging markets managers eye impact of U.S. presidential contest amid pivotal elections across the globe pionline.com/emerging-marke… via Pensions & Investments