BofA's Fund Manager survey shows the mag7 is still the most crowded trade.
Source: BofA
Container transportation costs have indeed doubled over the past 6 weeks but it is important to see the full picture. Relative to the pandemic peaks, transportation prices are still 75% lower...
Source: Bastion notes, Oxford Economics
Who's ordering Aircraft ?
Source: Win Smart
The silent bullmarket...
Global mutual funds' active weighting of Japanese stocks has not risen in the past six months. Source: TME, Factse
Did you know that Brazil has been leading Latin America in solar panel purchases? 🤔
Source: Markets & Mayhem
Life below zero...
JAPAN 2-YEAR YIELD FALLS BELOW ZERO FOR FIRST TIME SINCE JULY
IOWA REPUBLICAN CAUCUS: TRUMP MADE HISTORY BY WINNING ALL 99 COUNTIES AND WINNING BY THE LARGEST MARGIN EVER.
The Iowa caucus on January 15 launches the long designation process of the Republican and Democrat candidates to the US presidential election. On that day, only Republicans will vote (Democrats will hold their own later in 2024). While Iowa is a small state, and not very representative of the country’s population (90% of Iowa’s population is white and in past elections, the Iowa caucuses have rarely predicted what will happen in other primaries), it is seen as very important for candidates to gather positive momentum for the remaining of the campaign and the following state caucus and primaries. In the current context, the Iowa caucus may already provide a hint on whether any challenger to Trump within the Republican party has the potential to compete with the former President, or not. Rival campaigns and many political pundits had argued that if Trump failed to top 50% of the vote, he wouldn't meet expectations.
Current market mood...
Source: Michel A.Arouet
