Foreign investors are piling into US markets:
Foreign holdings of US securities have hit ~$27 trillion in 2023, near the all-time highs seen in 2021. Since 2009, foreign investments in US markets have skyrocketed by 180%. This comes after the S&P 500 has gained 573% during this time materially outperforming other markets such as the EU, Canada, and Japan. Meanwhile, foreign investors’ share of the $78 trillion US equity market has risen to ~17%, an all time record. Source: Bloomberg, The Kobeissi Letter
Reckless Trading
Source: WSJ
Nvidia's relative volume is getting crazier, yesterday's its traded about as much as the rest of the Top 20 list combined.
Source: Eric Balchunas, Bloomberg
India’s stock markets erase $371 billion after ruling BJP falls short of election expectations
India’s markets saw their largest one-day loss in four years after the electoral performance of Prime Minister Narendra Modi’s ruling Bharatiya Janata Party fell short of expectations. The All India Market Capitalization index, tracked on the Bombay Stock index, dropped over $371 billion on June 4 alone. The losses on Tuesday meant the Sensex index erased all its gains this year in a single day, going from a 5.85% year-to-date gain on Monday to a 0.22% loss position. Source: CNBC https://lnkd.in/df_9zjkZ
JUST IN: BlackRock and Citadel to start a new stock exchange based in Texas that is set to compete against the New York Stock Exchange
Source: Barchart
The $SPX is the most concentrated since 1964.
Restated, it has been 60 years since four stocks have accounted for this big a share of the $SPX. Source: Jim Bianco
90 years of bull & bear markets:
Source: Invest In Assets 📈
Friendly reminder that markets are always wrong about future Fed funds rate.
Source: Michel A.Arouet
