S&P 500 ekes out sixth winning day as investors look past U.S. credit downgrade.
As shown below, US CDS (red line) barely moved on the news. And any way, investors are more focus on the green line (global trade policy uncertainty) than anything else. Source: zerohedge
🚨Are investors too complacent?
The US equities put/call ratio fell from the highest level in 12 months to the 2nd-lowest level this year. Since the 2022 bear market, the put/call ratio has rarely been this low. Source: Global Markets Investor
Since 2016, S&P 500 has only had 2 red months during the May-July period 📈📈📈
Source: barchart
Yes, 2025 is likely to be a record year for EU equities funds inflows (according to BofA/EPFR, +$110bn inflow annualized, which will be the biggest since '15).
But despite all the US bashing, it could be a very strong year for US equities inflows as well. Indeed, US equities funds are on course for $416bn inflow, the 2nd biggest year ever... Source: BofA, EPFR
The jump in long equity positioning last week was the largest on record, per Deutsche Bank!
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$1.2 Trillion of S&P 500 $SPX notional options exposure is set to expire on Friday with a max pain price currently sitting at 5,840
Source: Barchart
WARREN BUFFETT'S BERKSHIRE HATHAWAY JUST FILED A 13F UPDATING HIS PORTFOLIO FOR Q1'25.
Adds: $POOL, $STZ, $DPZ, $OXY, $SIRI, $VRSN Exits: $NU, $C Reductions: $CHTR, $DVA, $COF, $BAC, $TMUS, $FWONK HERE’S A LOOK AT ALL HIS HOLDINGS: Source: Wall St Engine on X
The ratio of the US Health Care sector to the S&P 500 is at its lowest level since January 2001.
The Health Care Sector is down 9% over the past year while the S&P 500 is up 14%. $XLV $SPY Source: Charlie Bilello
