--- title: America’s equity market continues to lead the world description: Meanwhile, the widening performance gap highlights AI’s outsized role in equity markets. 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If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) ### America’s equity market continues to lead the world Meanwhile, the widening performance gap highlights AI’s outsized role in equity markets. Each week, the Syz investment team takes you through the last seven days in seven charts. [![Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/hubfs/charles-2.jpg)](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) [**Charles-Henry Monchau, CFA, CMT, CAIA**](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) Chief Investment Officer **Monday, 06/01/2026** | - [![Pdf](https://blog.syzgroup.com/hubfs/pdf%20(1).png)](https://blog.syzgroup.com/hubfs/Syz-Feature_WeekIn7Charts_260601.pdf?hsLang=en) - - - - #### Chart #1 —  ## The US stock market’s lead over global peers is remarkable The total market capitalisation of the US stock market has climbed to an unprecedented $75tr, setting a new record. At $14.84tr, China, the world’s second-largest equity market, remains far behind, with the US market valued at more than five times its size. In fact, the United States represents a larger share of global stock market value than the next nine largest markets combined. These markets include China, Japan, Hong Kong, India, Canada, Taiwan, South Korea, the United Kingdom, and France. Together, those nine countries account for approximately $58tr in market capitalisation, which is still more than $17 trillion less than the value of the US stock market on its own. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-15-42-0829-AM.png?width=491&height=639&name=image-png-Jun-01-2026-08-15-42-0829-AM.png) Source: Global Markets Investor, Voronoi --- #### Chart #2 —  ## Without AI, the market rally would appear far less robust Goldman Sachs’ TMT AI basket has surged 42% year-to-date. That compares with a 9.8% gain for the S&P 500 and only 3.5% for the S&P 500 excluding AI-related stocks. The contrast highlights the significant role AI has played in driving overall market performance this year. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-16-19-3460-AM.png?width=893&height=486&name=image-png-Jun-01-2026-08-16-19-3460-AM.png)Source: Bloomberg, HolgerZ --- #### Chart #3 —  ## The striking resemblance between the “Netscape cycle” and the “ChatGPT cycle” Nasdaq had gained 144.55% by 875 trading days following the launch of Netscape on 12/19/94. By comparison, Nasdaq was up 144.77% 875 days after the release of ChatGPT on 11/30/22. As always, past performance does not guarantee future results. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-17-22-2346-AM.png?width=954&height=475&name=image-png-Jun-01-2026-08-17-22-2346-AM.png) Source: Bespoke --- #### Chart #4 —  ## Hedge fund portfolios are approaching record levels of concentration The top 10 holdings in the median hedge fund long portfolio now represent 72% of total exposure, marking the highest level ever recorded. This matches the peak reached in 2018 and exceeds the temporary surge observed during the Great Financial Crisis. In effect, the average hedge fund is placing most of its portfolio on just 10 stocks, with very limited diversification beyond its largest positions. When positioning becomes this concentrated, any eventual unwinding tends to occur rapidly and with significant market impact. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-17-58-0519-AM.png?width=696&height=595&name=image-png-Jun-01-2026-08-17-58-0519-AM.png) --- #### Chart #5 —  ## The evolution of the top 10 companies by decade - 1985–2005: Manufacturing and production companies dominated the rankings for three consecutive decades. - 2015: The IT revolution reshaped the landscape, with technology firms taking the lead. - 2025: The emergence of AI is defining a new era, marking the beginning of what many view as the Super Decade of AI. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-19-49-4723-AM.png?width=704&height=959&name=image-png-Jun-01-2026-08-19-49-4723-AM.png) Source: niveshak @Sandeepnirvan a16z --- #### Chart #6 — ## Enhanced Games’s stock plunged 52% on Wednesday, just two days after its inaugural event The company was founded around a single concept: allowing athletes to use performance-enhancing drugs without restrictions in pursuit of breaking world records. Its first competition took place in Las Vegas on 24 May. Despite those ambitions, only one world record was set during the six-hour event. Fred Kerley, who had predicted that Usain Bolt’s 9.58-second world record would be “destroyed,” recorded a time of 9.97 seconds, fast enough to have finished last at the Paris Olympics. He also made four attempts to get into the starting blocks due to false starts and untied shoes. Among participants, 91% reported using testosterone, 79% used human growth hormone, and 62% used stimulants. Even so, they were unable to outperform natural athletes. The company’s stock has now fallen 81% over the past 19 days. After reaching a valuation of $1.2bn just months ago, the shares are currently trading at $2.92. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-20-53-5427-AM.png?width=906&height=521&name=image-png-Jun-01-2026-08-20-53-5427-AM.png) Source: Bull Theory   --- #### Chart #7 —  ## The strength of a brand premium The new Ferrari Luce is priced at $640,000 and delivers 1,035 horsepower, a 0–62 mph time of 2.5 seconds, and a quad-motor setup, with a starting price of €550,000. By comparison, the Tesla Model S Plaid offers 1,020 horsepower, accelerates from 0–60 mph in under 2 seconds, provides 368 miles of range, includes Full Self-Driving capability, and starts at $112,000. Based on those specifications, Ferrari is effectively charging an additional $528,000 for its brand and exclusivity. The Model S Plaid is 82% less expensive while offering quicker acceleration, greater range, and more advanced technology. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Jun-01-2026-08-21-37-0471-AM.png?width=515&height=677&name=image-png-Jun-01-2026-08-21-37-0471-AM.png)Source: Bull Theory @BullTheoryio --- #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Bond market vs US Treasury: who will yield?](https://blog.syzgroup.com/fast-food-for-thought/bond-market-vs-us-treasury-who-will-yield?hsLang=en) Nothing seems to curb the 10-year Treasury yield’s rise. Meanwhile, Japan’s currency defense is drying up it’s FX reserves and the S&P 500 is hiding something important. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 14/09/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [A record US-China yield gap?](https://blog.syzgroup.com/fast-food-for-thought/a-record-us-china-yield-gap?hsLang=en) Meanwhile, European countries are having their own bond crisis. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 07/09/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Nvidia’s record-breaking day](https://blog.syzgroup.com/fast-food-for-thought/nvidias-record-breaking-day?hsLang=en) Victoria’s Secret is back: a $100,000 investment has quadrupled since the Fashion Show’s return was announced. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 31/08/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. 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