All eyes on Jackson Hole this week
Looking at historical returns, it is rarely a big deal for markets. Will this time be different? Source: The Transcript
Retail investors are all in
Retail investors' inflows into U.S. stocks jumped over the last 2 weeks to their highest levels in at least 12 months. Aggregate net retail 5-day moving average purchases have more than DOUBLED in a month and hit~$1.7 billion last week. This comes after the S&P 500 fell ~7%, providing what proved to be a buying opportunity. Following the inflows, the S&P 500 surged over 8% from its low and is now 1.5% away from a new all time high. The risk appetite for stocks is still strong. Source: FT, The Kobeissi Letter
Massive money pours into the Invesco S&P 500 Top 50 ETF
Source: Bloomberg
"Unprecedented Swing": CTAs To Buy $86BN In Global Stocks This Week, The Most On Record
Source: zerohedge, Goldman
A person who invested $10k in the S&P 500 $SPY in 1993 would have faced:
• Asian Crisis, 1997 • Dotcom bubble, 2000 • GFC, 2007 • EU debt crisis, 2010 • Global pandemic, 2020 • Numerous recessions Yet, their initial investment would be worth $195k today (10% CAGR). Source: @KoyfinCharts
If July is a great month for the Nasdaq, September is not
Source: Bloomberg, zerohedge
Fear Index Vix dropped 27.3% this week, most since Nov 2023 as recession fears have faded and bulls are firmly back in control of the narrative.
Source: Bloomberg, HolgerZ
The VIX is now LOWER than it was before August 1st.... what a round trip...
Source: TradingView
