JPMorgan analysts led by Marko Kolanovic are undeterred in their defensive model portfolio allocation. If
Category: Duly Noted
It’s All Relative: Magnificent 7 ‘Not Overvalued,’ One Bank Says
Is the “Magnificent 7” overvalued? If you’re exhausted with that query, you’re not alone. I’m
Global Equity Inflows Strongest In Two Years Amid Rally
Equity-focused ETFs and mutual funds saw a seventh week of inflows amid what some describe
Money Fund Assets Scale New Record. RRP Usage Falls Further
Money market funds raked in another $18.65 billion in the week to March 6, an
A Word On America’s New Debt Milestone
The Fed keeps insisting, in some cases against the evidence, that rate hikes are working
The Meme Stocks Are All Skewed Up
The rally on Wall Street, which looked poised for a breather on Tuesday, may or
Behind The ‘Bubble,’ Surging Cost Of Capital Forces Investor Rethink
Rally skeptics and those with an affinity for crash prophecies spent the last couple of
Kolanovic Sticks With It: Markets ‘Vulnerable To An Accident’
Marko Kolanovic’s sticking with it, where “it” means a cautious approach to frothy markets. In
BofA Raises S&P Target. Inflows To US Equities Continue
You didn’t need to be a gifted tasseographer to read between the lines last week
Money Market Fund AUM Soars To Staggering $6.06 Trillion
US money market funds saw their second-largest inflow of 2024 in the week to February
The Vol Regime In Six Easy Bullet Points
Stocks are reluctant to hold a selloff. In fact, we’re back in a regime where
‘An Incredibly Surprising Result’
I’ve been on (and on and on) about the extent to which windfall interest income
The Fed Put’s Alive And Well
Last month, I spent some time editorializing around a 2024 outlook piece which echoed many
Is Nvidia Surge A ‘Blow-Off Top?’ If So, What’s Next?
Are we witnessing a “blow-off top” in equities? To answer that, we have to define
Inflows To US Stock Funds Accelerate Amid AI Frenzy
US equity-focused ETFs and mutual funds saw their largest inflow of the year over the
Money Fund AUM Slips Second Week As Great MMF Debate Continues
This week’s money market fund flows update was mostly uneventful, although it was notable for
Why Nvidia Matters For Vol
Wednesday was Nvidia day in the US. On the off chance you’re just coming out
Minutes And Supply
A couple of notables. The Fed minutes skewed hawkish and reception for Wednesday’s 20-year supply
Chinese Banks’ ‘Record’ Rate Cut Is Meaningless
It’s hard to know whether, and to what extent, everyday market participants benefit from staying
Tech Funds On Track For Record Inflows Amid AI Frenzy
For what it’s worth, US equity-focused ETFs and mutual funds recouped a meaningful portion of
Stocks Could Rise 30% If Equity Allocations Return To 1999 Levels: JPMorgan
How far might stocks rally if investor equity allocations rose to levels consistent with those
Money Fund AUM Slips, RRP Drops Below $500 Billion
US money market funds shed assets over the latest weekly reporting period. Before anyone’s eyebrows
Pavlov Kills The VIX Spike
“You simply have to short vol spikes in unemotional, mechanical fashion.” That’s the muscle memory,
More US And Tech Exceptionalism
If you favor US equities over the rest of the world, nobody’s going to blame
Easy Money: A Quick Earnings Season Recap And A Word On Dividends
Guess what? Earnings season in the US went fine. Surprised? No? Me neither. I don’t
Famous Bear Likes The Large-Caps
Large-cap US equities have achieved their independence from bond yields. Not entirely, of course. Risk-free
Flows, Sentiment And Too Much Information
We’re far enough into 2024 to start talking about YTD “trends” in equity fund flows.
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