🇺🇸 The market capitalization of the MSCI USA Index as a percentage of the MSCI All Country World Index reached its highest in nearly two decades earlier this month and now sits just below that at about 58% – Bloomberg pic.twitter.com/Il7DP1pFdj
— Christophe Barraud🛢 (@C_Barraud) September 16, 2020
We know forward P/E for S&P 500 is approaching dot com-era levels, but PEG ratio has also gone parabolic (4-standard deviation move) given collapse in long-term earnings growth & lack of guidance moving forward @bcaresearch @Refinitiv #IBES pic.twitter.com/S99SNDcTGN
— Liz Ann Sonders (@LizAnnSonders) September 17, 2020
– QE goes on.
– Low rates through 2023.
– Twin deficits at record levels.
Just a big picture reminder:
National debt has grown over 3.5x nominal GDP since the break of the gold standard.
Only one way out folks…
Monetary debasement. pic.twitter.com/CXf3Z587Mn
— Otavio (Tavi) Costa (@TaviCosta) September 16, 2020
Welcome to The Twilight Zone. A new cycle high in US real retail sales with a new cycle low in US consumer confidence. This is what happens when transfer payments hit 38% of household income, more than double that of GFC & almost 4X the normal 10-12% post GFC. Thanks Jerome! pic.twitter.com/d8UxZdwG1d
— Julien Bittel, CFA (@BittelJulien) September 17, 2020
Sentiment toward Richard Branson's fortune has been a pretty, pretty good reflection of risk appetite in 2020.
February: he can do no wrong
April: he's got no money
September: let mom-and-pop blindly hand him their money pic.twitter.com/NrJdRvioQH
— SentimenTrader (@sentimentrader) September 17, 2020