This is BCA's "Chart Of The Week": Has momentum turned in equities?
Two momentum signals: 1) Value vs. Growth just flipped positive for the first time since mid-2024. 2) Small vs. Large has been rising since late 2024. BCA team noted this rare alignment has historically fueled multi-quarter cyclical outperformance. Source: BCA
Best performing SP500 stocks ytd
Source: Shiny Stocks ⚒️ @shinystocks on X
Speculators have built the largest short small cap stock futures position in at least the last decade
Source: Barchart, Bloomberg
The 12-month rolling sum of foreign flows into longer-term US assets reached an all-time high in June.
That's well after all the chaos in April around "Liberation Day" and all the weirdness on Russia and China. Markets just don't care. They continue to see US "exceptionalism..." Source: Robin Brooks @robin_j_brooks on X
$RSP (Equal Weight S&P 500) vs $SPY (S&P 500 Worst relative performance since the Global Financial Crisis.
Source: Trend Spider
85% of bonds in the world are trading at less than 5% yield
Source: Apollo
President Trump is reportedly eyeing 11 names to replace Fed chair Powell
Full List: 1. David Zervos -- Chief Market Strategist at Jefferies 2. Kevin Warsh -- Former Federal Reserve Governor 3. Rick Rieder -- CIO for Global Fixed Income at BlackRock 4. James Bullard -- Former St. Louis Fed President 5. Michelle Bowman -- Fed Vice Chair for Supervision 6. Chris Waller -- Fed Reserve Governor 7. Philip Jefferson -- Fed Vice Chair 8. Marc Summerlin -- Former economic advisor in the George W. Bush admin 9. Lorie Logan -- Dallas Fed President 10. Kevin Hassett -- Director of the National Economic Council 11. Larry Lindsey -- Former Fed Reserve Governor Polymarket lists Waller at +250 for next Fed Chair. Source: Polymarkets, Shay Boloor @StockSavvyShay
Over the last few weeks, markets have been moving higher partly due to the fact that investors have been pricing in more rate cuts.
With July PPI and core CPI prints surprising on the upside this week, odds of rate cuts in September and beyond are moving lower. Could it trigger a decent market correction? Source image: @RealStockCats
