Corporate bonds yield less than the Fed funds rate for the first time in 30 years
Source: Tavi Costa, Bloomberg
Improving market breadth for US equities
More stocks made new 52-week highs yesterday than when the major averages were at all-time highs a little over a year ago. Source: Steven Strazza
How often do active investment managers BEAT the S&P 500?
Source: Saxo
US earnings this week
Source: Earnings Whispers
Only 0.01% of the world holds 1 Bitcoin (BTC)
There are less than 1,000,000 people who hold at least 1 BTC in an address they control. Source: Glassnode
As your time horizon extends, the probability of negative returns declines
Source: BofA
The Itraxx Xover index below 400bps for the first time since April 2022!
The spread of the Markit iTraxx Xover index, which is a good indicator of investor sentiment on European high yield, fell below 400 basis points for the first time since April 2022. The index is tightening by 25 basis points today following Ms. Lagarde's reassuring comment on the growth outlook. Source: Bloomberg
Best January since 1975 for US Investment Grade bonds
U.S. investment grade (IG) bonds recorded their best January performance (+4%) since 1975! After having its worst year in 2022 (-15.8%), the IG bond market is recovering thanks to the slowing of the Federal Reserve's monetary policy tightening and a better than expected economic outlook. Source: Bloomberg
