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).

• 22 Dec, 2014

  Too Many Words

  Among monetary economists, there is a raging debate over the merits of the Fed's burgeoning balance sheet. Back in ...

• 31 Dec, 2018

  Book Wrap

  Time for my semi-annual book perspective. I read a lot of books, but truthfully, most of them I move through pretty ...

• 13 Dec, 2016

  Shock, Part 3 (The End of Pax Americana)

  We are all trying to make sense of the election of Donald J. Trump to the presidency, and a few weeks ago I outlined the ...