The biggest driver of US equity demand has been buybacks, with $5.5T of purchases since 2000
Source: Markets & Mayhem, Bloomberg
🏇 The race to $4 Trillion...
Apple $AAPL $3,369,000,000,000 NVIDIA $NVDA $3,320,000,000,000 Microsoft $MSFT $3,051,000,000,000 Who will be the first to hit $4 trillion market cap? Source: Trendspider
Halloween Day Massacre $SPY
$953 BILLION was wiped out from the US stock market yesterday. Bloomberg, WallStreetbets
😱 Do you remember Beyond Meat ?
Source: Radar
Despite talks of de-dollarisation, America dominance has never been that strong:
• US stock exchanges capture more than half of global free-float market capitalisation • US share of global stock market is 2.3 times its share of global GDP — the highest-ever ratio Source: Agathe Demarais @AgatheDemarais
MicroStrategy just unveiled its bold new "21/21 Plan" to raise $42 billion in capital over the next 3 years.
The strategy includes $21 billion from equity and $21 billion from fixed income. With this capital injection, MicroStrategy aims to boost its Bitcoin holdings and enhance BTC yield, solidifying its commitment to Bitcoin as a core treasury reserve asset.
It seems the stock markets haven’t yet recognized that equity risk premiums have turned negative.
The yield on the 10y US bond is now higher than the earnings yield of the S&P 500... Source: HolgerZ, Bloomberg
The other "Trump Trade": $DJT vs. $NYT
Trump Media $DJT $10.5B New York Times $NYT $9.2B Source: Lawrence McDonald, Bloomberg data.
