Global Equity Funds have seen inflows $84 billion over the last 6 weeks, the highest amount in 2 years
source : deutsche bank, barchart
The stock market rally continues in Germany.
The Dax is heading for its 9th daily gain in a row. The rally is being driven by the Dax "Glory 5" stocks - an index consisting of SAP, Siemens, Allianz, Munich Re, and Deutsche Telekom. These 5 stocks have outperformed the Dax Price Index by almost 100%-pts over a 10 year period. Source: HolgerZ, Bloomberg
Not all Tech stocks are magnificent...
$AAPL and $TSLA the main downside outliers...
6 out of the top 20 stocks in the SP500 this year are in the Semiconductor space
Nvidia once again leading everything w/ a gain of +66%. $NVDA . Source: Charlie Bilello
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
Long large cap-growth relative to small cap value 12-month relative performance hit extreme level
Source: BofA
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
🚨 February numbers are in and the Mag 7 are now the 𝗙𝗮𝗻𝘁𝗮𝘀𝘁𝗶𝗰 𝟰 year to date
Nvidia , Meta , Microsoft and Amazon driving all the gains while Apple , Google and Tesla fall out of the 7. Source: John Haslett, CA(SA), FRM
