Chief Investment Officer på von Euler & Partners en del av Säkra. I marknaden sedan 2004. Fokus global tillgångsallokering. Tidigare aktieanalys och trading.
Oförändrad ränta är att vänta vid morgondagens Fed-besked, men frågan är vad nya ordföranden Warsh säger om framtiden. Marknaden står och väger mot höjning eller ej i slutet av året. #finanstwitter
“Private capital now earns twice as much of the lifetime returns of businesses that do eventually go public. You’d have to believe that SPCX’s market cap will exceed 20% of 2036 US GDP for it to buck this trend:” Carlyle’s Jason Thomas.
Is the Dollar weakness story over? The Dollar is up versus the G10 this year. That's about markets pricing Fed hikes, which I think is wrong. The Dollar versus EM is down. That's the leading signal to pay attention to. USD will fall sharply when war ends.
https://t.co/Ntw4FaInXz
5 out of the 7 stocks in the Magnificent Seven have actually underperformed the S&P 500 since the start of 2025, a very different picture than 2023-2024.
Only Google and Nvidia have outperformed.
US 10-year Treasuries are offering about the greatest amount of yield versus the S&P 500's earnings yield going back to 2003. Either earnings have to keep outperforming, or bonds will start looking like an increasingly attractive alternative.
There's really no sign - whatsoever - that US inflation is overheating. That has implications for the Dollar. Just imagine what'll happen to inflation when the war ends and oil prices fall. I think markets are wrong to price hikes for the Fed. Very wrong.
https://t.co/jGE8S66IPN
AI hyperscalers (Google, Amazon, Meta, Microsoft, and Oracle) have issued 47% more debt in the first 5 months of this year ($159 billion) than all of last year ($108 billion). Their YTD debt issuance exceeds the combined issuance from 2020-2024.
$GOOGL $AMZN $META $MSFT $ORCL
Räntehöjningar åter i förväntansbilden, det i kombination med en överstretchad techrörelse ledde fredagens nedgång. Stockholm håller emot, vilket än så länge får tolkas som att fredagen handlade om vinsthemtagningar. Men vi får se #finanstwitter