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).

• 24 May, 2016

  Floating Oil

  Oil has had a nice recovery this year (see graph for Brent, YTD), up about 18% to over $48/barrel today. Of course, this ...

• 28 Aug, 2015

  Picking Up the Pace

  Lost amidst the market turmoil this week were a number of reports of a strengthening US economy. Consumer confidence ...

• 3 Dec, 2014

  Petropolitics-II (Implications)

  Declining oil prices provide a net benefit to the global economy. A rule of thumb is every $10/barrel transfers around ...