J.P. Morgan Kolanovic & Dubravko -> The recent rise in market cap concentration has been the steepest on record based on >60 years of history
Even narrower leadership than seen during the TMT Bubble. Source: Seth Golden
Most Expensive Euro on Record Has Traders Braced for Declines
As the Nominal effective exchange rate reached an all-time high, a dovish message from ECB this week can add pressure on the euro. Source: Bloomberg
A Pivotal Week for Central Bank's
Source: Bloomberg
Spanish conservative leader Alberto Nunez Feijoo won the most seats in Sunday’s election and is on track to govern with the support of the far-right group Vox, according to opinion polls.
Feijoo’s People’s Party is set to claim about 150 seats in the 350-strong parliament while Vox will get around 31, according to a survey by GAD3, which was published when voting closed at 8 pm in Madrid. The Socialists were set to win 112 seats. Source: HolgerZ, Bloomberg
Key reasons people miss buying great winning stocks
Source: Compounding Quality
Dow component returns in 2023...
Source: Charlie Bilello
FED QT continues w/balance sheet dropped by $22.4bn past week.
It is 6th week in a row that total assets shrink. Fed more than leveled the increase in the wake of the banking crisis from March. Fed balance sheet now equal to 31% of US's GDP vs #ECB's 53%, SNB's 121%, BoJ's 128%. Source: Bloomberg, HolgerZ
Nasdaq is still lagging the average bear market recovery performance, per Bloomberg.
Source: Cheddar Flow
