1. IBIT Flows 5x Faster than S&P 500 ETF VOO
Bitcoin ETF flows. “$IBIT blew through the $80b mark last night, fastest ETF to get there in 374 days, about 5x faster than the previous record, held by $VOO, which did it in 1,814 days. Also at $83b it’s now 21st biggest ETF overall.”
2. S&P 500 Industrial Sector Record Outperformance.
3. S&P Dividend Yield 20 Basis Points from Internet Bubble Lows.
https://www.gurufocus.com/economic_indicators/150/sp-500-dividend-yield
4. The Share of U.S. Dollar Foreign Reserves Going Down for 25 Years.
5. SPACS, Reverse Mergers and Digital Assets Joining Up
Bloomberg-For dealmakers who cultivated crypto relationships through the industry’s troubled years — not to mention who hung in during the post-pandemic collapse of the SPAC boom — now is the time to cash in. The appeal of blank-checks is in their relative speed. Unlike IPOs that can take more than six months, a reverse takeover or SPAC deal can be agreed in weeks, according to Paul McCaffery, KBW’s co-head of digital assets.
A rebound in token prices and a more permissive US regulatory environment have emboldened crypto firms, leading to more deals, particularly among SPACs and reverse mergers.
6. Chipotle’s Economics vs. CAVA
7. High U.S. Government Debt Levels 30 Years in the Making.
8. US government to invest in rare earths production
Jonathan Josephs–Business reporter, BBC News•jonathanjosephs
Bloomberg/Getty
The US government is to become the biggest shareholder in the country’s only operational rare earths mine.
It is also going to take a series of other steps to underpin the future of the operation in Mountain Pass, California.
Rare earths are essential to huge amounts of modern technology, such as electric cars and wind turbines.
Access to these metals has been at the heart of a US-China trade war, with Beijing controlling about 90% of global processing capacity.
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MP Materials, which owns the mine, has entered into an agreement with the US Department of Defense that is designed to reduce America’s dependency on imports of rare earths.
The deal means that for the next 10 years the US government will commit to MP Materials receiving a minimum price of $110 per kg for its neodymium and praseodymium output.
These are two of the most in-demand of the 17 different rare earths for the global economy. They are crucial for making permanent magnets, which are found in everything from smartphones to MRI scanners and electric motors.
The move follows concerns that China has used its near total control of the industry to push prices down and force companies in other countries out of business.
https://www.bbc.com/news/articles/c3r91rngq2do
9. Support for Immigration Hits All-Time Highs.
10. What are People Asking ChatGPT?
