IMPORTANT MACRO STATS TODAY:
1. Alphabet $Alphabet(GOOGL.US) is lining up a ~$15B multi-tranche bond deal, including ultra-long paper out to 2066 priced around +120 bps over Treasuries — strong signal of demand for duration at scale. Basically, everyone wants to buy Google's debt. 2. ChatGPT traffic hit 5.72B visits in Jan 2026, the 4th-highest month ever: +3.7% MoM rebound and +48.7% YoY, the fastest growth among the world’s top 10 sites. Good for $Microsoft(MSFT.US) $Oracle(ORCL.US). 3. Single-stock short selling just logged its largest weekly print on record (back to 2016) as per Goldman Sachs. Maybe...the shorts have to cover soon? Maybe they started covering on Friday?4. Bloomberg reports Chinese regulators are urging banks to cut back U.S. Treasury exposure due to volatility. 10yr still hovering around 4.2%. Trump needs to get yields down. 5. Retail continues to go into hard assets: $SPDR Gold Shares(GLD.US) saw +$16B inflows over the past year, with $9B in just 5 months (56% of annual total). $iShares Silver Tr(SLV.US) pulled in +$4B from individuals. I sold my $Global X Copper Miners(COPX.US) for a 10% move two weeks ago, I just think the metals are becoming too volatile and plenty of stocks offer that volatility without needing to pile into the metals. 6. U.S. consumers have more credit than ever before December credit rose +$24B to a record $5.11T; revolving credit (cards) jumped +$13.8B, the highest since Nov ’22. Ultimately, we've been seeing headlines like this for a year now -- until we see an issue in the labor market, not sure if this would matter as much. 7. Cash is piling back into sidelines as Money-market fund assets are +$85B week over week, snapping a two-week trend of MMFs showing net outflows. People are heading to cash after last week's volatility but maybe some stability this week will bring that cash back into markets. $7.8T still on the sidelines!Source: amit
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