Wait, so there's an earthquake in Venezuela that stops all oil production, and Trump chooses to strike Iran and end peace talks, cutting off even more oil? 🤔
The rally is finally spreading out beyond just a few big names:
In June, the equal-weight S&P 500 ETF ($RSP) is beating the regular S&P 500 ETF ($SPY) by +5.0 percentage points. That's the best monthly outperformance since 2009 and the second-best in over 20 years.
So far
Stock market leverage in Asia is starting to show cracks:
In Taiwan, stock trade defaults at securities firms hit $62 million in June so far — the highest monthly total since 2019. These happen when margin buyers can't pay or sellers can't deliver shares.
Defaults surged