Japanese stocks soared to a new all-time high for the first time in almost 35 years but based on global valuation metrics, they could still have room to run...
Source: Bloomberg, Barchart
Germany economic challenges in one chart
Source: Statistisches Bundesamt
In case you missed it: Global debt surged by >$15tn in 2023 reaching a new record high of $313tn.
55% of this rise originated from mature markets, mainly driven by US, France, & Germany. BUT global debt-to-GDP ratio saw a decline of ~2ppts to 330% in 2023, acc to IIF. This marked the third consecutive annual drop. Source: HolgerZ, IIF
Net worth of Warren Buffet by Age
By Compounding Quality
In case you missed it... European gas price falls to pre-energy crisis level
Strong imports of liquefied natural gas, warm weather and demand reduction as a result of high prices in recent years have all helped keep gas stored in the EU’s underground storage facilities at historically high levels during this winter, putting pressure on prices. The price of Title Transfer Facility (TTF), the European benchmark, fell to as low as €22.53 per megawatt hour on Friday, the lowest since May 2021, on course for a third consecutive weekly decline. Source: FT
The Magnificent 7 are now up ~1,700% since 2015 compared to the S&P 500's ~140% gain.
Even the Nasdaq Composite Index, the largest tech index in the world, is up just ~230% since 2015. Source: DB, TME
Nvidia is destroying Intel's datacenter market share.
$NVDA $INTC
Tech has fully decoupled from yields.
Nasdaq has been unphased in front of higher rates (see chart) Source: TME
