Total return indexes - the long view
Source. Compounding Quality
Long-Dated Treasuries have officially entered a bull market after $TLT surged higher by more than 20% from the 16-year low it hit on October 23
Source: Barchart
Bottom? Will the Turmoil In Used Rolex and Patek Market End After Fed's Pivot?
Extract from a zerohedge article: The secondary market for pre-owned Rolex and Patek Philippe watches has been spiraling down since peaking in early 2022, mainly because the Federal Reserve ended helicopter-dropping trillions of dollars in stimulus checks and was forced to begin the most aggressive interest rate hiking cycle in a generation to curb inflation. Now, the Fed's bizarre, unexpected pivot this week has spurred hope that a bottom nears for the luxury watch market. Bloomberg spoke with Christy Davis, a co-founder of Subdial, a UK-based secondary watch market dealer and trading platform, who believes the turmoil in the secondary luxury watch market is ending. "As we look toward 2024, the potential for a soft landing of stable and eventually declining rates is reason for optimism in the watch market," Davis said. Source: www.zerohedge.com
Markets are full risk-on since November 9th
The Nasdaq 100 and the S&P 500 have underperformed the equal weighted indices. They got beat up pretty badly by the Russell 2000 and have been left in the dust by Regional Banks and $ARKK (Ark Invest Innovation ETF). Source: Peter Tchir of Academy Securities
The Magnificent 7 have a higher weighting in the MSCI World Index than all of the stocks in the UK, China, France and Japan combined
Source: MSCI AllSpring Global Investments
Quartr just created this infographic that illustrates the 12 largest luxury companies by market cap
Four fun facts: → $LVMH's market cap is 50% larger than the bottom 10 companies *combined*. → $RMS is by far the largest single-brand company on the list, 3.5x the size of $RACE for example. → Despite owning 10+ brands including iconic maisons such as Gucci, Saint Laurent, and Bottega Veneta, $KER's revenue is "only" ~€20B, compared to Hermès' >€13B. → Tiffany & Co. got acquired by LVMH during the pandemic at a $16B valuation, which would place them at #7 on this list. Source: Quartr Activate to view larger image,
Believe it or not...
On December 14, the GDPNow model nowcast of real GDP growth in Q4 2023 is 2.6%.
Goldman Trader: Are $6 Trillion In Money-Market Funds About To Flood The Stock Market
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