✨🎉Serotonin, Dopamine, Endorphins, and Oxytocin: The Neurotransmitters of Well-being
Source: SEEMA YADAVSEEMA YADAV
58% of US households own stocks, the highest percentage on record
Source: Charlie Bilello
The gap between the Magnificent 7 and the S&P 493 (remaining 493 companies) is now 63%
This year, the Magnificent7 is up a massive 75% while the remaining 493 companies are up just 12%. Combined, the S&P 500 is up ~25%, more than doubling the S&P 493's total return. In other words, the Magnificent 7 is up 3 TIMES as much as the S&P 500 and ~6 TIMES as much as the S&P 493. Just 7 weeks ago, the S&P 493 was DOWN 2% this year. Source: The Kobeissi Letter
The stock market spent 2022 steadily declining and 2023 steadily gaining, to generally wind up about where it started
Source: Peter Mallouk
Simon White posted an excellent chart showing the potential short-term gain / long-term pain of the dual Yellen / Powell pivot
Phase 1: The Yellen Pivot. Early 2023, she decided skewing the Treasury's issuance towards bills. This bought time for risk assets, allowing Fed reserves to rise despite QT Phase 2: The Powell Pivot last week -> His dovish turn should buy more time for risk assets next year. He is literally trying to limit the growing amount of liquidity sucked from the government's ballooning interest-rate bill While this leads to short-term gain, there is a huge risk of long-term pain as these dovish operations have significantly increased long-term inflation risks and the prospect of even higher yields in the near-future. Source: Bloomberg, Macrobond
German federal government is set to trim federal debt sales next year following the German top court's 'debt brake' ruling. Berlin plans to issue ~€440bn in debt
That compares with a record volume of ~€500bn in 2023 Source: HolgerZ, Bloomberg
Assets Explained Simply
by Brian Feroldi
Antifragile: Things that gain from disorder
Source: Investment Books (Dhaval)
