The concentration Risk
“Never before has the fate of hedge funds turned on so few stocks: According to quarterly filings compiled by Goldman Sachs, the top 10 holdings on average made up 70% of a fund’s long portfolios, the highest since at least 2002” https://www.bloomberg.com/news/articles/2019-02-27/hedge-funds-cool-on-stocks-but-ones-they-like-they-really-like?srnd=premium …
Something is not right
Fed conundrum: the S&P 500 (black) is back to its average level in 2018, but market pricing has swung from 2 hikes on average for 2019 to 20% of a cut (blue) and gone from flat in 2020 to 100% chance of a cut (red). This decoupling from financial conditions is unsustainable…
That did not age well
Just your regular reminder that the Fed cuts rate on average 5 months after their last hike
The estimates keep on getting trimmed
Global economic growth forecasts continue to fall. In the past two months, another cut, led by the Eurozone and Japan.Focus economics
