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More →Savita Subramanian: Stocks face competition from bonds, with more risk of disappointment than upside
Bank of America's Savita Subramanian said that for the first time in decades, the stock market is facing real competition from bonds. She warned that elevated investor sentiment means the stock market now faces greater risk of disappointment than room for further gains. The risk-reward on the current 10-year U.S. Treasury note has exceeded 5%, while her team's valuation framework suggests the S&P 500's returns over the next 10 years may fall short of that level. "The bond market is genuinely attractive again for the first time in decades," Subramanian said in an interview with Bloomberg Television.
Bank of America: Bonds are attractive for the first time, and U.S. stocks may underperform Treasuries over the next decade.
Bank of America's head of equity and quantitative strategy, Savita Subramanian, said bonds have become a genuinely competitive alternative asset to the stock market for the first time in decades. She warned that investor sentiment is currently elevated, making stocks more vulnerable to negative shocks, with limited room for upside surprises ahead. The U.S. 10-year Treasury yield has already surpassed 5%, while Bank of America's valuation model suggests the S&P 500's annualized return over the next decade may fall short of that level. She noted that U.S. policymakers are working to avoid excessively high long-term interest rates, and demographic shifts mean the ceiling for U.S. rates may be lower than in the 1970s and 1980s. In addition, artificial intelligence could bring deflationary effects, easing long-term inflation and rate pressures. Against this backdrop, the environment for bond allocation has become more favorable, as U.S. Treasury yields may struggle to sustainably rise above 6% to 7%.
QQQ off-exchange short sale volume ratio reported at 70.21%
Bjie.com US stock data: QQQ's off-exchange short selling volume accounted for 70.21% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it rose by 3.1216 percentage points.
DEX 24-hour trading volume reached 9.937 billion USD.
CoinWorld data: Within the period, DEX 24-hour trading volume was 9.937 billion USD, an increase of 22.31% compared with the previous statistical period under the same scope. Among them, the DEX trading volumes of the five monitored public chains were: Ethereum 3.152 billion USD; Solana 2.039 billion USD; BSC 746 million USD; Base 1.051 billion USD; Arbitrum 109 million USD.
US single-stock options open interest stands at 419,349,498 contracts.
BiJie Network US stock data: US single-stock options open interest stands at 419,349,498 contracts, of which 257,907,011 are calls and 161,442,487 are puts.
Bitget lists perpetual contracts for 4 stocks including USDE and VKTX.
Bitget has announced the listing of perpetual contracts for four stocks: USDE, VKTX, PCVX, and XP. These contracts are settled in USDT and support up to 20x leverage and 24/7 trading. As of now, the Bitget platform supports a total of 337 stock contract underlying assets.
TRON DEFI Summer S3 is underway, and USDD holders can participate in a $600,000 Boost reward pool.
According to news from Bijie, TRON DEFI Summer S3 is currently underway, and USDD holders can participate in a $600,000 Boost reward pool. As a stablecoin in the TRON ecosystem, USDD users can enter JustLend DAO through Binance Wallet DEFI to participate in this reward pool. Holding 100 USDD is enough to join the S3 event, and while users earn the base annualized yield, they can also stack Boost incentives, unlocking more use cases for stable assets. In addition, users can swap USDT for USDD at a 1:1 ratio with zero slippage through PSM, and the deposited USDD can continue to serve as eligible collateral, balancing yield and capital flexibility. The real-time APR may change with the market, so please refer to the rate displayed on the event page.
SPY off-exchange short sale volume ratio reported at 58.91%
Bjie.com US stock data: SPY's off-exchange short selling volume accounted for 58.91% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it rose by 6.4332 percentage points.
Shell (SHEL.US) forecasts strong third-quarter oil trading performance: refining margins soar to a record $42 per barrel.
Shell has signaled strong oil trading results for the third quarter: refining margins have surged to a record $42 per barrel. The company expects its oil trading business to deliver strong third-quarter results, as tightening global fuel supplies drive refining margins to an all-time high.
A senior Democratic member of the U.S. House of Representatives is introducing a draft law
A senior Democratic lawmaker in the U.S. House of Representatives is introducing a draft bill aimed at clarifying what legal liability AI developers should bear when AI agents under their control cause harm.