The Kobeissi Letter

The Kobeissi Letter

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Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: support@thekobeissiletter.com

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The Kobeissi Letter

The US corporate bond market is expanding rapidly: Total outstanding public investment-grade and high-yield bonds is up to a record $11 trillion. Since 2009, the market has grown +$8 trillion, or +267%. This has been driven by the growth in high-rated BBB and A debt, which now

The Kobeissi Letter

US manufacturing jobs are still trending lower: The US manufacturing sector shed -5,000 jobs in November, marking its 7th consecutive monthly decline. Over this stretch, manufacturing employment has fallen by -67,000 jobs, to 12.7 million, the lowest since March 2022. Since

The Kobeissi Letter

The US private equity market is frozen: Private equity firms have sold 321 companies year-to-date, putting the market on track for its weakest year since 2009. This is despite the number of companies held in private equity portfolios standing at a record 12,899. By comparison,

The Kobeissi Letter

AI dealmaking is making history: Top US start-ups have raised ~$150 billion in funding year-to-date, set for the 3rd-consecutive annual increase. This sits $58 billion above the 2021 record. The largest among these transactions was a $41 billion capital raise by OpenAI, backed

The Kobeissi Letter

Are commodity prices set to rise further? A net of 35 central banks have recently cut rates, the highest number since 2020. This marks a sharp reversal from 2022, when 30 major central banks on net were hiking their benchmarks. Historically, coordinated rate cuts have been a

The Kobeissi Letter

BREAKING: MicroStrategy stock, $MSTR, falls toward a new 52-week low, now on track to end 2025 down -48%.

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