11 Dec 2023
% Below All-Time High (total returns)...
Dow ETF $DIA: 0% S&P 500 ETF $SPY: -1.0% Nasdaq 100 ETF $QQQ: -1.7% Russell 2000 Small Cap ETF $IWM: -21% ARK Innovation ETF $ARKK: -68% Source: Charlie Bilello
8 Dec 2023
A chart for the history books
Source: Michel Arouet, BofA
8 Dec 2023
The correlation between US stocks and bonds over the last 2 years is the highest we've seen since 1993-95
Source: Charlie Bilello
8 Dec 2023
The S&P 500 technology sector's relative strength versus the broad market is at its highest level since March 2000
Source: Charlie Bilello
7 Dec 2023
How much of the bonds outperforming stocks market action we've seen in the last couple weeks is a function of strong rebalancing flows given bond underperformance this year?
As highlighted by Bob Elliott, even part of this years 1.5tln pension fund stock/bond imbalance happening now could have quite an impact.
7 Dec 2023
Regarding the stock market, the sp500 is exactly at the same level it was two years ago today, December 6, 2021. As the black line shows, the change in the index is up just 0.17%
Meanwhile, the 3-month T-Bill (orange line) is up 6.3% over the same period. Source: Bianco Research
7 Dec 2023
JUST IN: SpaceX has initiated discussions about selling insider shares at a valuation of $175 billion or more
The shares are expected to be sold at $95 each. The $175 billion valuation is a premium to the $150 billion valuation obtained this summer. If SpaceX went public, it would be one of the largest IPOs of all time. Source: The Kobeissi Letter
6 Dec 2023
Most of this year's Dax rally is driven by higher EPS expectations, not P/E expansion. Dax has gained 18% year-to-date while Dax P/E has expanded only 6% from 11.5 to 12.2
Source: Bloomberg, HolgerZ
