Selected Fun Facts

Some fun facts about this year (courtesy Michael Hartnett of Merrill Lynch):

• US equities (+14%) are ahead of European equities (-6%) by the widest margin since 1976.
• US large cap is beating US small cap by 950 bps, the most since 1998.
• 50% of all government bonds globally yield less than 1%.
  • Notable exception: Venezuela US$-denominated bonds yield 22%.
• Apple’s market cap ($662 billion) is one-third greater than all Eurozone banks combined, and nearly as large as every listed company in Latin America ($695 billion).

• 13 Aug, 2015

  No Panic (Yet)

  Earlier this week, China devalued its currency 1.9% against the US dollar. On one level, this is not a big deal. China's ...

• 12 Apr, 2019

  Inversion

  Say "inversion" to a Californian, and the most likely word association is layer. Its our topography that causes this ...

• 21 Apr, 2015

  Valuation

  Most observers would agree that equities are rich (expensive, overpriced, etc.). Corporate profits are at record highs, ...