
*This is sponsored advertising content.
Good Morning Everyone!
Going back to 1957, a decline of 15% or more for the S&P has been followed by positive returns in the next 12 months in all but 2 occasions over the past 65 years — average return is +18.6%.


MARKET UPDATE
Last week S&P 500 declined for 6th straight week
Low was Thursday’s 3858, lowest level since March 25, 2021

10yr 2.9

Crude 109 -1%
Weaker on soft China economic data
China weak
April industrial production fell 2.9% y-o-y
April retail sales fell 11.1% y-o-y
April electricity consumption was down 1.3%
China’s oil demand fell 6.7% in April.
The Central Bank refrained from cutting interest rates
But reduced mortgage rates for first time buyers
U.S. vs. Canadian Banks

What do U.S. investors think about Canadian Bank outperformance?

Earnings None
CRYPTO
We’ve been here before:

Panic has subsided:

Bitcoin’s correlation with the Nasdaq remains tight:

And last week digital assets saw record weekly inflows for the year (led by Bitcoin):

Terra
LUNA-related exchange-traded products were halted in Europe
The token has lost 99.99% of its value
Do Kown submitted a “Revival Plan” on Friday to redistribute ownership of the network
The stablecoin supply is showing signs of contraction, indicating large net capital outflows from crypto at large:

Noteworthy: While USDC outflows have been the biggest contributor to the drop pictured above, Tether’s USDT supply has actually expanded over the same time period
MEME OF THE DAY

WallStreetBets woke up feeling bullish this morning:

Disclaimer: The publisher does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
Grit Capital Corporation is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN.
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and the publisher undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
The publisher, its affiliates, and clients of the a publisher or its affiliates may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.