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The top 10 holdings in the S&P 500
now make up 30.5% of the index, the
highest concentration we've seen
with data going back to 1980 |
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00:01 -
26/09/23 |
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This spread continues to defy gravity. With the surge in
interest rates again today, the earnings yield for the
Russell 3000 index is now below 10-year yields for the first
time in 21 years |
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Markets are too bearish on China. China's exports are weak,
but that's cyclical payback for strong exports during COVID
when US households couldn't consume services and switched to
consuming goods. Current weakness in exports isn't about
de-coupling. It's just cyclical payback... |
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The S&P just hit its most oversold level of the year at more
than two standard deviations below its 50-DMA |
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Commercial real estate is starting to break down |
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