#Europe’s Price and Earnings Dislocation Looks Extreme – Bloomberg
*The earnings consensus for next year is still 30% too high, according to Citigroup Inc. strategists. pic.twitter.com/QwGTFmYByg— Christophe Barraud (@C_Barraud) June 23, 2020
#Bankruptcy Tracker: Filings Soar to Match 2009 Record – Bloomberg
*Last week’s 13 cases equal peak of global financial crisis.
*Filings from all sectors now total 117, the most for the first half of a year since 2009.
*Link: https://t.co/NlxhBkNwGt pic.twitter.com/NGnjFGUXNs— Christophe Barraud (@C_Barraud) June 23, 2020
Chris Watling, chief market strategist at Longview Economics:
“80% of the markets we track have a valuation in the upper quartile relative to the market’s history — the greatest percentage on record using data since the mid-1990s.”
*Link: https://t.co/GybalOtnCQ pic.twitter.com/nBgwrcSWew— Christophe Barraud (@C_Barraud) June 23, 2020
The market capitilization of the largest five S&P 500 constituents jumped further to 21.3% yesterday, the highest in decades $spx pic.twitter.com/NheJoFtYxd
— MacroMarketsDaily (@macro_daily) June 23, 2020
Analysts are upgrading their price targets for S&P 500 stocks at the *FASTEST* pace ever now
At the S&P's bottom in March analysts were downgrading at the fastest ever
ALL prior instances of analysts chasing the rally led to a S&P 500 pullback/correction in the next 2-3 months pic.twitter.com/cT7QdUq2j5
— Troy Bombardia (@bullmarketsco) June 23, 2020