The Kobeissi Letter
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Tether bought 14 tonnes of gold, lifting holdings to 146 tonnes
Tether purchased 14 tonnes of gold in Q2 2026, increasing total holdings to a record 146 tonnes valued at approximately $18.8 billion. The company...
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ISM Manufacturing PMI jumps to 55.6, highest since May 2022
The US manufacturing recovery is accelerating: ISM Manufacturing PMI rose 2.3 points in July to 55.6, the highest since May 2022, marking a seventh...
SanDisk shares drop over 10% despite beating earnings estimates
SanDisk stock ticker SNDK dropped more than 10 percent after the company reported earnings that exceeded analyst expectations. The price reaction...
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Chinese investors pour $1.2B into gold ETFs over 14 days
Chinese investors are reallocating to gold-backed ETFs as equity volatility rises in China, signaling a preference for perceived safe-haven assets.
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US job openings fell 178,000 in June to 7.36 million
US job openings fell by 178,000 in June to 7.36 million, the lowest since March, marking a second straight monthly decline and a cumulative drop of...
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Markets cut September Fed hike odds to 47%, pricing extended pause
The probability of a Federal Reserve rate hike in September has fallen from 70% to 47%. If the Fed holds rates, it will mark the longest pause since...
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SpaceX unlocks 911.5M insider shares, doubling free float to 11.8%
A combined 911,500,000 SpaceX (SPCX) shares held by employees and early investors become eligible for trading tomorrow. This represents...
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Trump cancels Iran strike and announces deal to reopen Hormuz
President Donald Trump announced cancellation of a planned US military strike on Iran and said the parties have agreed on the perimeters of a deal....
Trump Media launched Truth API offering real-time Trump posts for $100k/month
Trump Media launched a paid data service named Truth API that offers faster access to Truth Social posts from President Donald Trump. The company’s...
US 30-year yield hits 5.27%, highest since 2007
The US 30-year Treasury yield has risen to 5.27%, the highest since June 2007. This is a 450 basis point increase from the 2020 low. At the current...
KOSPI jumps 15% as global chip stocks rally
South Korea’s KOSPI jumped nearly 15% amid a broad rally in global semiconductor equities. The move aligns with outsized gains across chipmakers,...
Over 1.2 million Korean retail accounts faced margin calls, KOSPI fell 18%
Goldman Sachs reports widespread stress among South Korean leveraged retail traders as of July 13: over 1.2 million margin accounts triggered margin...
