High global cost of capital hurts weak global balance sheets
Pakistan, Nigeria, Ethiopia, Egypt, DRC, Iran, Türkiye, Argentina account for 12% of world population (>1bn people) and they are all hit by inflation rates >30% (Argentina 250%, Türkiye 60%, DRC 50%), interest rates >20% & pressure of currencies. Source: BofA
Compounding doesn't rely on earning big returns
Merely good returns sustained uninterrupted for the longest period especially in times of chaos and havoc-will always win Source: Investment books (Dhaval)
Long large cap-growth relative to small cap value 12-month relative performance hit extreme level
Source: BofA
Wealth inequality keeps rising
The Top 1% of US earners now have more wealth than the middle class
BREAKING: BlackRock's Bitcoin ETF, $IBIT, hits a record $10 billion in assets under management
This is the fastest an ETF has hit $10 billion in assets under management, at 37 trading days. Just ~4% of all ETFs have reached the $10 billion mark. More history made by Bitcoin. Source: The Kobeissi Letter
Eurozone CPI slowed less than anticipated in Feb, highlighting stickiness in inflation
Headline inflation eased to 2.6% YoY in Feb, above 2.5% consensus estimate in BBG survey. Core inflation came down by 0.2%-pt to 3.1%, also an upward surprise compared to 2.9% consensus estimate. Source: Bloomberg
Thanks God for tech! Big tech is the only space seeing upward revisions
Source: TME, Barclays
The SP500 has now traded green in both January and February
When that has occurred (data going back to 1950), the $SPX finished the rest of the year higher 27/28 times with the final 10 months being higher 26/28 times. Seems pretty good for Bulls! 🐂 Source: barchart, H/T Ryan Detrick
