Quality is not cheap...
Source: Goldman
Halfway thru earnings season and buyback announcements are ticking up..
DB notes $85B announced last week. Source: DB
Goldman Sachs and HSBC are saying that funds and global investors are rotating out of US and Japanese stocks
To reposition on the Hong Kong stock market which appears to offer significantly better opportunity. Hong Kong listed companies mainly do business across Asia with limited interference from the Chinese government. Source: Bloomberg
Where did all the stocks go?
Since the late 1990s, the number of US publicly traded companies has plunged from just over 8K in 1996 to about 4.6K in 2022. (It’s bounced back a bit more recently.) Source: Quartr
Asset managers and leveraged funds remain very, very long US equities
Source: Bloomberg
Chinese stocks catching a very strong bid Monday.
The most-followed China stock index globally (MSCI China) is set to enter a bull market (note though it’s still a long way back to the top) Source: David Ingles, Bloomberg
The UAE's ascent.
Do you know that the UAE's stock markets have a larger market capitalization than Brazil's or Spain's? Do you also know that the UAE's IPOs have been 2nd worldwide in raising capital? Source: Ryan Lemand, PhD, Bloomberg
China stocks: still a long way to come back to the top...
Source: Bloomberg
