HARD ASSETS ARE AT THEIR LOWEST vs. FINANCIAL ASSETS SINCE 1925
Source: BofA
The FT has tracked all of Softbank's IPO returns. And guess what... they are terrible
source: Evan Tindell
Since the end of 2012, the S&P 500 has more than tripled, rising by 216.2%
Of that increase, eight megacap stocks have accounted for just under half of the total gain. Source: Bespoke
There are few assets that can provide meaningful diversification benefit in a portfolio, particularly from a real return / purchasing power standpoint
In an environment where stocks and bonds are so highly correlated, notable to see the low correlation across commodities - Source: Bob Elliott.
In case you missed it: Tuesday's rally was not driven solely by the Magnificent 7
Russell 2000 index of small-cap stocks soared a staggering 5.4%, as investors bet the Fed is done raising rates and could be cutting interest rates much sooner than expected. Source: HolgerZ, Bloomberg
"Mag 7" darling Nvidia $NVDA finished the day with its highest closing price in history
And the stock has now traded green for 10 consecutive trading days, its longest winning streak since December 2016. Source: Barchart
Dividend stocks have been horrendous in 2023
The 100 highest yielding stocks in the S&P had an average total return of -7.94% through last Friday compared to an average gain of 8.94% for the 100 (exactly) stocks in the index that pay no dividend. Source: Bespoke
Stock markets care much more about US Treasury auctions now than they used to
Chart from Citi’s Stuart Kaiser thus Lisa Abramowitz
