Global Markets Investor (newsletter author)
Macro/equity commentator posting regular data-driven charts and analysis on U.S. indices, valuations, and flows.
Gold Overtakes Treasuries in Central Bank Reserves
🔥Gold is making history: Gold now makes up 24% of global central bank reserves, surpassing US Treasuries at 21% for the first time since the mid 1990s. This is a complete reversal from Q4 2015, when Treasuries made up 33% of reserves and gold 9%.👇 https://globalmarketsinvestor.beehiiv.com/p/foreign-central-banks-are-dumping-us-treasuries-at-the-fastest-pace-in-years
Fed Faces Record $245 Billion Cumulative Loss
⚠️The Fed's losses are MASSIVE: The Fed's cumulative losses sit at near a RECORD $245 billion. This represents the gap between what the Fed pays commercial banks in interest on their reserves and what it earns on its bond holdings. 👇 https://globalmarketsinvestor.beehiiv.com/p/the-federal-reserve-s-cumulative-losses-are-massive
Gold ETFs Record $5.5B Outflows Signal Potential Correction
🔴What is happening with Gold ETF flows? The largest gold-backed ETFs, including $GLD, $IAU, and $GLDM, saw a record -$5.52 billion in combined outflows last week. A breather before the next leg higher, or the start of a bigger correction?👇 https://globalmarketsinvestor.beehiiv.com/p/us-stocks-posted-the-worst-week-since-october-amid-surging-oil-prices-weekly-market-recap-trading-we
US Banks Hold $300B Private Credit Exposure, Wells Fargo Leads
⚠️US banks have ~$300 billion in exposure to private credit: Wells Fargo leads with $59.7 billion in loans to private credit funds. JPMorgan, which recently marked down software-linked loans and curbed lending, has $22.2 billion in exposure.👇 https://globalmarketsinvestor.beehiiv.com/p/us-stocks-posted-the-worst-week-since-october-amid-surging-oil-prices-weekly-market-recap-trading-we
Geopolitical Wars Drive Stocks Down as Oil Spikes
🔴Watch oil prices: In past geopolitical conflicts, stocks were negatively correlated with oil. The longer the conflict lasted and the higher oil prices went, the deeper the drawdown, with the worst being -19.3% during the 2011 Libyan Revolution 👇 https://globalmarketsinvestor.beehiiv.com/p/the-iea-has-proposed-the-largest-emergency-oil-release-from-strategic-reserves-in-history
Global Debt Surges to Record $348 Trillion, Crisis Deepens
‼️Global debt CRISIS is reaching INSANE levels: World debt SPIKED +$29 trillion in 2025, to $348 trillion, the highest EVER. This was the 2nd LARGEST annual increase in HISTORY. Global government debt hit a record $107 trillion.👇 https://globalmarketsinvestor.beehiiv.com/p/us-stocks-dropped-amid-rising-ai-and-geopolitical-uncertainty-weekly-market-recap-trading-week-09-20-a312
Record Broad Money Growth Threatens Purchasing Power
⚠️Broad money supply in developed countries is surging: Broad money across advanced economies rose to a record $74.1 trillion in 2025. This comes after a massive +25% surge during 2020–2022 before growth eased back to trend. It has risen over $50 trillion since...
Iran Continues Massive Oil Shipments to China via Hormuz
🚨Iran is still pushing oil through the Strait of Hormuz: At least 11.7 million barrels of Iranian crude have passed through the strait since February 28, all headed to China. Many tankers have "gone dark," switching off their GPS tracking systems...👇 https://globalmarketsinvestor.beehiiv.com/p/the-iea-has-proposed-the-largest-emergency-oil-release-from-strategic-reserves-in-history
US Job Data Overstated, Recent Revisions Cut 94k Jobs
⚠️US employment numbers have been grossly OVERSTATED: The US job market has seen revisions in ALL months of 2025 and 11 months of 2024. Over the last 3 months, US employment has been revised DOWNWARD by -94,000 jobs.👇 https://globalmarketsinvestor.beehiiv.com/p/february-us-jobs-report-was-a-disaster
High Oil Prices Slightly Lift Inflation, Minimal GDP Hit
‼️$100 oil prices have a surprisingly modest impact on the US economy: A persistent oil shock through 2027 would push headline inflation up +0.7 percentage points at peak, while core inflation and unemployment each rise just +0.1 percentage points. Real GDP effect...
Hedge Funds Bet Heavily Against US Dollar
‼️Hedge funds are EXTREMELY BEARISH on the US Dollar: Net dollar positioning of hedge funds and other asset managers is down to -$18.9 billion, near the most bearish level in at least 3 years. Hedge funds are getting caught off guard. 👇 https://globalmarketsinvestor.beehiiv.com/p/us-stocks-dropped-amid-rising-ai-and-geopolitical-uncertainty-weekly-market-recap-trading-week-09-20-a312
US Private Credit Stocks Face Massive Outflows and Declines
⚠️US private credit stocks are under PRESSURE: Blue Owl stock is down -50% in 12 months, dropping below its $10 listing price from 2021. Meanwhile, Blackstone's $82 billion private credit fund saw -$1.7 billion in net OUTFLOWS over the last month👇 https://globalmarketsinvestor.beehiiv.com/p/us-private-credit-stocks-are-under-heavy-pressure
Record Hedge Activity Signals Unprecedented Investor Fear
🚨Investors are hedging against a market crash at a record pace: Combined put open interest in credit ETFs, $HYG, $LQD, $JNK, and $BKLN, plus call open interest in the Treasury ETF, $TLT, is up to a record 15.9 million contracts. This has...
Retail Money Floods Korean Funds Amid Record Market Crash
đź”´THIS IS INSANE: South Korean equity funds saw $3.7 BILLION in inflows last week, bringing the year-to-date total to a record $21 BILLION. The vast majority of these flows were driven by retail investors. Meanwhile, the Korean KOSPI index has CRATERED -24% from...
Foreign Investors Trigger Record South Korean Stock Selloff
🚨Has the South Korean market gone TOO FAR? Foreign investors dumped a record 6.8 trillion won ($4.7 billion) of South Korean stocks on Friday, the largest single-day selloff EVER.👇 https://globalmarketsinvestor.beehiiv.com/p/us-stocks-dropped-amid-rising-ai-and-geopolitical-uncertainty-weekly-market-recap-trading-week-09-20
