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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 16 Oct 2023 - - - #### Nobody can predict at the moment how the Middle East situation will unfold, but if history is a guide market impacts of geopolitical scares are usually short lived Will it be different this time? Source: Michel A.Arouet [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) ![Nobody can predict at the moment how the Middle East situation will unfold, but if history is a guide market impacts of geopolitical scares are usually short lived](https://blog.syzgroup.com/hubfs/1697321568513.jpg) ![Nobody can predict at the moment how the Middle East situation will unfold, but if history is a guide market impacts of geopolitical scares are usually short lived](https://blog.syzgroup.com/hubfs/1697321568513.jpg) 16 Oct 2023 - - - #### The bull-market is one-year old and the leadership has been unusual • Since 1980, every single end to a bear market and start of a new bull has been accompanied by a broad rally in stocks, with the Equal Weight Index and small-caps stocks outperforming the S&P 500. • This time is different: the S&P 500 is heavily influenced by the 10 largest companies, which have enjoyed outsized returns. The so-called "magnificent seven" (Amazon, Apple, Alphabet, Meta, Microsoft, NVIDIA and Tesla) are up 77% over the past 12 months. But the S&P 500 Equal Weight Index, which assigns the same weight to all the stocks that are included, is up a more modest 11% for the same timeframe. Small-cap stocks are up 5%. Source: Edward Jones [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![The bull-market is one-year old and the leadership has been unusual](https://blog.syzgroup.com/hubfs/1697301625920.jpg) ![The bull-market is one-year old and the leadership has been unusual](https://blog.syzgroup.com/hubfs/1697301625920.jpg) 16 Oct 2023 - - - #### Cash + Treasury Bills now account for 15% of BoA's Global Wealth AUM, the highest level since the onset of the pandemic and one of the highest levels since the GFC This could potentially limit the downside risk if that capital rotates back into stocks. Source: Barchart, BofA [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) ![Cash + Treasury Bills now account for 15% of BoA's Global Wealth AUM, the highest level since the onset of the pandemic and one of the highest levels since the GFC](https://blog.syzgroup.com/hubfs/1697321266583.jpg) ![Cash + Treasury Bills now account for 15% of BoA's Global Wealth AUM, the highest level since the onset of the pandemic and one of the highest levels since the GFC](https://blog.syzgroup.com/hubfs/1697321266583.jpg) 16 Oct 2023 - - - #### For the first time in the last 5 decades, rising interest rates have failed to cause Stock P/E multiples to contract Source: Barchart [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![For the first time in the last 5 decades, rising interest rates have failed to cause Stock P/E multiples to contract](https://blog.syzgroup.com/hubfs/1697358779067.jpg) ![For the first time in the last 5 decades, rising interest rates have failed to cause Stock P/E multiples to contract](https://blog.syzgroup.com/hubfs/1697358779067.jpg) 16 Oct 2023 - - - #### Two different years Two different reactions by growth stocks. Source: J-C Parets [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Two different years](https://blog.syzgroup.com/hubfs/1697323938975.jpg) ![Two different years](https://blog.syzgroup.com/hubfs/1697323938975.jpg) 16 Oct 2023 - - - #### stocks vs bonds Source: Brian Feroldi [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![stocks vs bonds](https://blog.syzgroup.com/hubfs/1697270305447.jpg) ![stocks vs bonds](https://blog.syzgroup.com/hubfs/1697270305447.jpg) 13 Oct 2023 - - - #### Yes, Hedge funds are short equities But don't forget the bigger picture: positioning among asset managers and leveraged funds is rather long... Source: TME, JP Morgan [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) ![Yes, Hedge funds are short equities](https://blog.syzgroup.com/hubfs/1697144318879.jpg) ![Yes, Hedge funds are short equities](https://blog.syzgroup.com/hubfs/1697144318879.jpg) 12 Oct 2023 - - - #### $100k invested in the S&P 500 ETF 30 years ago would be worth over $1.7 million today Was the road to 17x growth a straight line? Far from it... Source: Charlie Bilello [#ETF|](https://blog.syzgroup.com/syz-the-moment/tag/etf) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![$100k invested in the S&P 500 ETF 30 years ago would be worth over $1.7 million today](https://blog.syzgroup.com/hubfs/1697056388551.jpg) ![$100k invested in the S&P 500 ETF 30 years ago would be worth over $1.7 million today](https://blog.syzgroup.com/hubfs/1697056388551.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/306) [305](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/305) [306](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/306) [307](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/307) [308](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/308) [309](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/309) [❯](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/308) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/312?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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