Probably nothing
Source: Bianco Research L.L.C.
Should we get prepared for a choppy quarter???
The S&P 500 has gained ~1.0% on average in the first quarter after a US presidential election since 1950. It also historically comes with elevated volatility as market swings widen to both directions. On average, the first year of a new presidential cycle has seen an 8.2% average return. Source: The Kobeissi Letter, J-C Parets
Believe it or not, retail ETF gold flows continued to be negative on a net basis last year.
Source: Bloomberg, The Methodical Investor
President-elect Donald Trump on Tuesday announced a $20 billion FOREIGN investment to build new data centers ACROSS THE UNITED STATES, according to CNBC.
Emirati billionaire Hussain Sajwani, a Trump associate and founder of the property development company DAMAC Properties, is pledging “at least” that amount, the president-elect said at his Florida home Mar-a-Lago. “They may go double, or even somewhat more than double, that amount of money,” Trump said of Sajwani’s company. The “first phase” of the plan will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said. Source: Stocktwits, CNBC
$JPM JPMorgan is preparing to tell all its employees to return to the office 5 days a week
according to Bloomberg
U.S. Dollar vs. World Currencies in 2024
Source: Barchart, Visual Capitalist, Voronoi
Yields spike after somewhat hot US economic data with US 10y now at 4.67%:
ISM Prices Paid Index came in higher than expected, signaling potential future inflation. At the same time, JOLTS job openings unexpectedly increased, with previous month's data also revised upward. Source: Bloomberg, HolgerZ
Howard Marks, Co-Chairman of Oaktree Capital and one of the world's most respected value investors, is cautioning about froth in the market and believes we are due for either:
1) a large correction in the market OR 2) 10-year returns of between +2 and -2% Source: Barchart
