Total US debt explodes to $35.7 trillion on Oct 1, up $345 billion from Sept 27. https://t.co/526h8TQ7AS pic.twitter.com/Isw0x0EOww

— zerohedge (@zerohedge) October 2, 2024

⚠️GLOBAL ECONOMY IS DRIVEN BY A MASSIVE DEBT BUBBLE⚠️

G7 countries debt-to-GDP ratios in 2024:

United States: 123%
United Kingdom: 104%
Italy: 139%
France: 112%
Japan: 255%
Germany: 64%
Canada: 105%

What is the long-term solution here? pic.twitter.com/sgA2qMfR4A

— Global Markets Investor (@GlobalMktObserv) October 2, 2024

The Eurozone economy suffers a fresh contraction at the end of the third quarter.

Eurozone Composite PMI Output Index at 49.6 (Aug: 51.0). 7-month low.
Eurozone Services PMI Business Activity Index at 51.4 (Aug: 52.9). 7-month low.
First month since December 2023 that… pic.twitter.com/AV40cMRG7w

— Daniel Lacalle (@dlacalle_IA) October 3, 2024

⚠️GLOBAL MANUFACTURING IS IN A RECESSION⚠️

Global manufacturing PMI has contracted for the 3rd straight month in September.

New export orders dropped globally at fastest rate in 11 months.

Data points to global trade volumes falling 3-4% year-over-year, the most since COVID. pic.twitter.com/cPsYmWiQCq

— Global Markets Investor (@GlobalMktObserv) October 2, 2024

Bullish sentiment is through the roof:

US equity futures positioning by investors excluding market-makers just hit a net long of ~$290 billion, the most on record.

Since the beginning of the year, net long positioning has more than DOUBLED.

This is also twice as high as during… pic.twitter.com/blWFQ98n2e

— The Kobeissi Letter (@KobeissiLetter) October 2, 2024

The US Citi Economic Surprise index has turned positive again, rising to the highest level since April. In the past week, bond traders have been getting concerned that they've priced in more weakness (and thus rate cuts) than warranted. pic.twitter.com/a90DONrpOz

— Lisa Abramowicz (@lisaabramowicz1) October 3, 2024

Downward revisions in jobs data are now the most prevalent since the 2008 Financial Crisis:

16 out of the last 19 jobs reports have been revised downward.

This year alone, 6 out of the last 7 reports have been revised lower by a total of 372,000 jobs.

To put this into… pic.twitter.com/vBYnuL6tAB

— The Kobeissi Letter (@KobeissiLetter) October 2, 2024

'Stock brokers in Hong Kong are having one of the busiest periods in their career, with a 31-year veteran describing the city's sudden rally as a "once in a century" event.' https://t.co/rf8aMpBFG0 pic.twitter.com/cQfg18xXrS

— Jesse Felder (@jessefelder) October 2, 2024